Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Travelers Reports Improved 2ndQ Income from Last Year
Jul 18 2002 // Travelers Property Casualty Corp. reported that operating income increased 14 percent over the prior year quarter to $356.8 million or $0.36 per share compared to $314.3 million or $0.31 per share for the prior year...
ISO Reports Record 2001 Underwriting Losses, Poor Investment Results behind PnC Industry’s First-Ev
Jul 10 2002 // The property/casualty insurance industry recorded its first-ever net loss after taxes in 2001, stemming from sharply higher underwriting losses and substantial deterioration in investment results, according to Insurance...
Weiss Ratings Reports PnC Insurers Suffer $9B Loss in 2001
Jul 9 2002 // The nation’s property and casualty insurers reported a $9 billion loss in 2001, compared to a $27 billion profit in 2000, according to research by Weiss Ratings Inc. By year-end, claims surged to a record $381...
SEPT. 11 INSURED-PROPERTY LOSS ESTIMATE TOPS $20B:
Jul 8 2002 // Insured-property losses from the Sept. 11 terrorism attack are now estimated at $20.3 billion, up from the $16.6 billion that Insurance Services Office Inc.’s (ISO) Property Claim Services (PCS) unit had reported...
Cincinnati Financial Reports $45M Cat Losses for 2ndQ
Jul 4 2002 // Cincinnati Financial Corporation announced it expects to record approximately $45 million of pre-tax catastrophe losses and $35 million in losses greater than $1 million in its property casualty insurance subsidiaries will...
European Insurers Face WorldCom Losses
Jun 27 2002 // Most of Europe’s larger insurance companies have some exposure to losses resulting from the meltdown of WorldCom, the telecommunications giant which announced Tuesday night that it had improperly accounted for around...
P/C Industry’s 1stQ Net Income Falls 7.3 Percent
Jun 27 2002 // The U.S. property/casualty industry’s net income after taxes dropped 7.3 percent to $5.1 billion in first-quarter 2002 from $5.5 billion in first-quarter 2001, according to just released information from Insurance...
CAS Spring Meeting Predicts Hard Markets to Continue
Jun 21 2002 // Many of the events that made 2001 the worst year ever for property/casualty insurance will continue to keep the industry in a hard market throughout of this year, said panelists at the Spring Meeting of the Casualty...
U.K. Asbestos Losses Estimated at $1.75 Billion
Jun 20 2002 // A study by the London office of Credit Suisse First Boston reports that claims from asbestos related illnesses are expected to cost U.K. insurers around $1.75 billion over the next 40 years. The estimate takes into account...
Insured-Property Loss Estimate from Sept. 11
Jun 19 2002 // Insured-property losses from the Sept. 11 terrorism attack on the World Trade Center and the Pentagon are now estimated at $20.3 billion, up from the $16.6 billion that Insurance Services Office, Inc.’s (ISO)...
eAutoclaims Revenues Grow
Jun 18 2002 // Florida-based eAutoclaims, Inc., which provides online claims management solutions for the auto insurance industry through both an applications services provider (ASP) and outsourcing services, announced financial results...
Insurers & Contractors Trying to Nail DownProper Coverage
Jun 10 2002 // If you’re placing coverage for contractors, there are three factors that determine what obstacles you will encounter: location, location, location. The real question is whether it will stay that way or whether...
Insurers & Contractors Trying to Nail Down Proper Coverage
Jun 10 2002 // If you’re placing coverage for a client who is a contractor, there are three factors that determine what obstacles you will encounter: location, location, location. The real question, however, is whether it will stay...
Calif. Insurers’ Homeowner Profits Drowning in Water Damage Claims
Jun 6 2002 // Rising household water damage claims have cost California insurers billions of dollars and are constricting the homeowners insurance market, according to a study done by the Insurance Information Network of California. The...
Watch the Skies, Weather Still Causing Trouble for Homeowners Markets
May 27 2002 // For the past year, while the Texas homeowners insurance market reeled from the effects of mold claims on premium (and still does), homeowners markets in other states have begun bracing themselves for similar nightmare...
Non-Profit Social Service
May 27 2002 // Nuts & Bolts: Arrowhead Wholesale Brokerage has available a program for non- profit social service. Endorsements-professional liability, sexual abuse. Brokerage business. Dollars: Policy limits are property as needed;...
Storms Expected to Impact State Auto Financial Earnings
May 24 2002 // Ohio-based State Auto Financial Corporation estimates that storms would contribute between $20 to $22 million to losses in the second quarter, adding 9 to 10 direct loss ratio points to second quarter results. The company...
ING Q1 Net Up Slightly on Strong Insurance Sales
May 24 2002 // The Netherlands ING Group reported a 0.4 percent increase in net profit for the first quarter of 2002 compared to the same period in 2001, to €1.136 billion ($1.05 billion), the figure also represents a 19.8 percent...
S&P Maintains Negative Outlook on Japan’s P/C Insurers
May 23 2002 // Standard & Poor’s announced that its outlook on Japan’s non-life insurance industry remains negative following the release this week of insurers’ financial results for fiscal 2001. “Earnings...
Standard and Poor Takes State Farm off Watch, Lowers Ratings
May 20 2002 // Standard & Poor’s has removed from CreditWatch and lowered the counterparty credit and financial strength ratings on State Farm’s core operating units to double-‘A’-plus from...
