Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Acceptance Insurance Companies Reports Losses
Nov 2 2001 // Iowa-based Acceptance Insurance Companies Inc. reported an after-tax net loss of $9.5 million, or $0.66 per share, for the third quarter of 2001. The company’s continuing crop insurance operations generated an...
Trenwick Group Posts $96.1 Million 3Q Net Loss
Nov 1 2001 // Bermuda-based Trenwick Group reported a third quarter net loss of $96.1 million, and an overall loss for the first nine months of the year of $128 million, due in large part to Sept. 11 catastrophe losses in the period of...
Industry Weathering World Trade Center Losses, Uncertainties Remain
Nov 1 2001 // Despite the record losses terrorism wreaked on the insurance industry since the Sept. 11 attacks on the World Trade Center, the global insurance business not only remains on solid footing with the powerful backing of...
CNA Surety Corp. Third Quarter Net Income Down From 2000
Oct 31 2001 // Chicago-based CNA Surety Corporation reported net income for the third quarter of $12.0 million, or 28 cents per share, compared to $13.3 million, or 31 cents per share, for the comparable quarter in 2000. Operating...
ACE Posts 3Q Net Loss of $390.1 Million
Oct 30 2001 // Bermuda’s ACE Limited became the latest insurer to report a third quarter loss due to the impact of the Sept. 11 attacks. ACE said that its net loss during the period, excluding net realized gains (losses),...
Berkley Corp. Reports Sept. 11 After-Tax Losses At $23M; Eliminates 2 Business Lines October 30, 20
Oct 30 2001 // W. R. Berkley Corporation reported that operating income, excluding losses related to the Sept. 11 event, was $11 million, or 36 cents per diluted share, for the third quarter ended Sept. 30, compared with $9 million, or...
Mercury General Corp. Reports Third-Quarter Operating Profit
Oct 30 2001 // California auto insurer Mercury General Corp. reported its third-quarter net operating profit rose as the number of premiums written increased by 16 percent. The company said net operating earnings were $30.2 million, or...
PartnerRe See 3Q Loss, Will Raise $350 Million
Oct 29 2001 // Bermuda’s PartnerRe, which already announced estimated net losses from the Sept.11 attacks of around $400 million, announced additional losses of around $25 million, and said it would report a third quarter operating...
Time-Tested Lloyd’s Turns to Address U.S. Disaster Losses
Oct 29 2001 // Lloyd’s of London, the world’s oldest and most visible insurer, has set about dealing with the aftermath of the terrorist attacks of Sept. 11. Two weeks after the event, it released its projected net loss...
Will Reinsurance Rebound from Terrorist Strikes in the U.S.’
Oct 29 2001 // If the nautical term best applied to the reinsurance industry last year this time would have been “Steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve qui...
Silverstein Stands Firm on Two WTC Losses
Oct 26 2001 // Larry Silverstein isn’t about to back down on his claim that the loss of the twin towers of the World Trade Center constituted two separate loss events, and has reportedly called the claim by Swiss Re that there was...
Attacks Cause W.R. Berkley to Post 3Q Loss, Will Discontinue Some Lines
Oct 26 2001 // W.R. Berkley Corp. announced that the effects of after tax losses of $23 million related to the attacks of Sept. 11 had caused it to post a net loss for the 3rd quarter of $47.2 million. The Greenwich Conn.-based company...
ACE Posts Net 3Q Loss of $442 Million; Announces $1 Billion Share Offering
Oct 25 2001 // Bermuda’s ACE Ltd. reported a net loss for the quarter ended Sept. 30 of $442.6 million compared with net income of $140.8 million in 2000 and said that “the loss per share, after deducting preferred dividends,...
Lloyd’s Confirms S&P WTC Gross Loss Figure
Oct 24 2001 // Lloyd’s confirmed an earlier report from Standard & Poor’s that gross losses from the events of September 11 will be around £5.4 billion ($7.7 billion). The net loss estimate of £1.3 billion...
XL Reports 3Q Net Loss of $840 Million
Oct 24 2001 // Bermuda’s XL Capital Ltd. announced that it was posting a net loss for the 3rd quarter ended Sept. 30 of $840 million, or a loss of $6.57 per share, compared with net income of $139.5 million, or income of $1.10 per...
The Midland Company Reports Third Quarter Results
Oct 24 2001 // Cincinnati, Ohio-based The Midland Company, a highly focused provider of specialty insurance products and services, reported third quarter 2001 results ahead of its previous announcement. For the quarter ended Sept. 30,...
The St. Paul Companies Reports Third-Quarter Results
Oct 24 2001 // The St. Paul Companies announced a 2001 third-quarter after-tax operating loss from continuing operations of $545 million, or $2.62 per share. In the year earlier period, the company reported after-tax operating earnings...
SAFECO Reports 3Q Results, Strengthens Reserves by $240M
Oct 23 2001 // SAFECO reported third-quarter income, before charges, of $7.8 million or $0.06 per diluted share. Including $240 million in reserve strengthening and previously announced restructuring charges, SAFECO posted a net...
Hiscox Increases WTC Loss Estimates to
Oct 22 2001 // U.K. insurer Hiscox plc, which operates in the Lloyd’s market and independently, announced that it now expects net losses from the September 11 attacks on the U.S. to total around £30 ($43.5 million) rather...
Property Insurers to Exclude Acts of Terrorism, and to Price Premiums for Larger Maximum Losses Oct
Oct 22 2001 // Property and Casualty insurers, already wary of terrorism before the September 11 attack, are very likely to begin pricing “terrorist attack risk” separately from other coverages, according to a new forecast...
