Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allcity Reports Further Losses
Nov 16 2001 // Brooklyn-based Allcity Insurance Company, a member of the Empire Group, announced third quarter net losses of $3.856 million, and a nine month loss of $18.913 million, but stated that the ongoing reorganization of the...
Preserver Posts 3Q, Nine Month Loss; Notes Improvement in NJ Auto
Nov 15 2001 // New Jersey-based Preserver Group announced a third quarter net after tax loss of $199,860, and a nine month net after tax loss of $306,247, even as it noted that its operations in the State’s private passenger...
Allianz Posts $1.17 Billion Net Profit for 1st Nine Months, Increases WTC Loss Estimates
Nov 15 2001 // Germany’s Allianz Group announced a profitable first nine-months, despite increased estimates of claims from the terrorist attacks on the World Trade Center, and costs relative to the acquisition of Dresdner...
Warren Buffett Explains $679M Loss, Gives Shareholders Update
Nov 15 2001 // In a letter to shareholders posted on Nov. 9, Warren Buffett did his best to explain to shareholders the recent unprecedented loss at Berkshire Hathaway Inc., calling the results of the third quarter “anything but...
AXA Reports 2.5% Revenue Growth to $49.4 Billion for 1st Nine Months, Despite U.S. Slowdown
Nov 14 2001 // France’s AXA reported that global consolidated revenues for the first nine months of the year totaled €55.539 billion ($49.429 billion), a 2.5 percent increase over last year’s comparable figures, despite...
Arch Capital Reports 3Q Net Operating Income of $465,000
Nov 14 2001 // Arch Capital, which has extensively restructured its operations over the past year, announced that its after tax operating income for the 3rd quarter, excluding net realized investment gains and losses and equity in net...
NYC Plane Crash Tragedy Preliminary Loss Estimates $600 to $800 Million
Nov 13 2001 // Yesterday’s crash of an American Airlines A-300-600 into a residential neighborhood in Queens is likely to result in claims totaling between $600 and $800 million according to preliminary estimates. While it’s...
Amerisure Insurance Sees Significant Earnings Growth
Nov 13 2001 // Michigan-based Amerisure Insurance, a regional property and casualty insurance group, experienced significant earnings growth through the third quarter 2001, reporting direct written premiums of $326.7 million, and net...
A.M. Best Foresees Asbestos, Environmental Losses
Nov 12 2001 // A.M. Best Co. expects the property/casualty industry to incur upwards of $121 billion in net asbestos and environmental losses, according to the company’s special report, “Final Data Support A.M. Best’s...
Driversshield.com Corp Revenue Expected to Exceed $50 Million
Nov 12 2001 // Driversshield.com Corp. announced that the three long-term exclusive contracts with auto insurance companies that it has secured within the past 90 days should yield anticipated annualized revenue well in excess of $50...
HCC Files 3Q Loss, Prepares to Exit Workers’ Comp
Nov 12 2001 // HCC Insurance Holdings Inc. posted a third-quarter net loss, citing claims from Sept. 11 and reserve charges for discontinued businesses. The company also announced it will also exit the workers’ compensation...
PAULA Financial Nets Profit, Names New CEO
Nov 12 2001 // California-based PAULA Financial announced net income of $0.20 per share for the third quarter of 2001 compared to a net loss of ($0.26) per share for the 2000 period. Year to date the Company reported net income of $0.27...
Fire Loss Claim Doesn’t Add Up
Nov 12 2001 // Nestor Alfredo Milon, 54, of Silverlake, surrendered to Los Angeles Superior Court after being charged with one count of insurance fraud by the Los Angeles County District Attorney’s Office. Milon, who has been...
Silverstein Claims Pair of Losses in WTC Disaster
Nov 12 2001 // The man who held the master lease on the World Trade Center is standing by his claim that the loss of the Twin Towers on Sept. 11 was two losses, not one, despite the call by insurer Swiss Re that there was only one loss...
RSA Reports 9 Month Results Down 36 %, Seeks to Raise Capital
Nov 9 2001 // The U.K.’s Royal & Sun Alliance reported that group operating results were $472 million for the first nine months of the year, compared with $738 million for the same period last year, a 36 percent drop. Most of...
Aon Reports Third-Quarter Profits Fall 48 Percent
Nov 8 2001 // Chicago-based Aon Corp. said Nov. 7 third-quarter profits dropped 48 percent, as it paid out life insurance benefits for staff who died in the destruction of the World Trade Center, according to a Reuters report. The firm...
PartnerRe, Max Re Report 3Q Losses
Nov 7 2001 // Two Bermuda-based reinsurers, PartnerRe and Max Re, have posted third quarter net losses of $338.5 million and $8.7 million respectively, primarily due to claims related to the attacks of Sept.11. PartnerRe confirmed...
American Financial Group Notes Quarterly Loss
Nov 6 2001 // Insurer American Financial Group Inc. said Nov. 2 its quarterly loss widened because of losses from asbestos and the Sept. 11 attacks, and that it plans to cut its annual dividend in half. It also forecast 2002 earnings...
Prudential U.K. Confirms $1.2 Billion Deal with Winterthur, 2,100 Job Losses Expected
Nov 5 2001 // Prudential U.K. confirmed reports which first appeared last week that it has reached an agreement to sell its general insurance business to Switzerland’s Winterthur, the insurance arm of Credit Suisse/First Boston,...
The Hartford Reports Third Quarter Operating Loss of 22 Cents Per Share
Nov 2 2001 // The Hartford Financial Services Group Inc. reported an operating loss of $52 million for the third quarter of 2001, reflecting a $440 million loss related to the Sept. 11 terrorist attack. The results also reflect a $130...
