Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
New Livestock Insurance Could Spare Repercussions of an Unexpected Loss
Jul 27 2001 // The Hartford Financial Services Group, a major insurer of livestock, has created a new insurance program to target the fast-growing fish farming business. Whether a fish farm is an indoor or outdoor operation, The Hartford...
Missouri Working on Directive on Workers’ Comp Loss Control
Jul 27 2001 // Representatives of the insurance industry and the state workers’ compensation division met July 23 to discuss implementation of a new law that would significantly reduce requirements for insurers to report their loss...
A.M. Best Assigns Rating to NIAC and Affiliated Companies
Jul 26 2001 // A.M. Best Co. assigned an “A-” (Excellent) financial strength rating to Nonprofits’ Insurance Alliance of California (NIAC) and “B++” (Very Good) ratings to Alliance of Nonprofits for...
MMC Reports Increased 2Q, Six Months Results
Jul 26 2001 // Marsh & McLennan Companies, Inc. (MMC), reported increased revenues and earnings for the quarter ended June 30, 2001. The company stated that consolidated revenues rose 1 percent to $2.5 billion, net income grew 6...
The St. Paul Companies Reports Second-Quarter Results
Jul 25 2001 // The St. Paul Companies announced second-quarter 2001 operating earnings from continuing operations of $90.8 million, or $0.39 per diluted share, compared with $144.5 million, or $0.63 per share, in the second quarter of...
SAFECO Announces Changes to Create Long-term Earnings, 2Q Results Affected by Severe Weather
Jul 24 2001 // Investigators from the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division arrested a Yuba City man on seven felony counts of insurance fraud, grand theft and attempted grand...
Reliance Insurance 1817-2001 – R.I.P’
Jul 23 2001 // Reliance Group Holdings (RGH), the parent company of Reliance Insurance Company (RIC), one of America’s oldest insurers which traces its roots back to 1817, filed for bankruptcy protection in the Southern District of...
Canadian Auto Losses Continue to Rise
Jul 19 2001 // Losses related to auto insurance continue to climb in the Atlantic region of Canada following a report released by The Insurance Bureau of Canada (IBC). According to Don Forgeron, regional vice-president of the IBC, costs...
Storms Impact Ohio Casualty Profits
Jul 19 2001 // Losses from severe storms will cut into profits for Ohio Casualty Corp. for second-quarter earnings, increasing the loss the car, home and business insurer was slated to report for the quarter. Based in Fairfield, the...
Q1 Results: P/C Industry Premiums Up; Net Income, Surplus Down
Jul 16 2001 // The U.S. property/casualty industry’s net income after taxes dropped 5.4 percent to $5.6 billion in first-quarter 2001 from $5.9 billion in first-quarter 2000, according to Insurance Services Office Inc. (ISO) and...
SAFECO Estimates 2Q Loss
Jul 12 2001 // SAFECO announced it expects to report an operating loss for the second quarter of between $0.25 and 0.30 per share. This compares with analysts’ current consensus estimate of a loss of $0.19 per share, with some...
Tropical Storm Allison Rains on Chubb Profits
Jul 11 2001 // The Chubb Corp. announced its second quarter profits would drop by more than 25 percent from last year, mainly due to losses from Tropical Storm Allison, which did much damage in Texas, Louisiana and other parts of the...
RSA Acquires Independent’s Loss Adjustment Unit
Jul 10 2001 // Royal & Sun Alliance picked up another piece of the U.K. ‘s Independent Insurance, when it reached a deal with the failed insurer’s liquidators PricewaterhouseCoopers to pay £3 million ($4.2 million)...
P/C Net Income, Surplus Drop in First Quarter
Jul 9 2001 // The U.S. property/casualty industry’s net income after taxes dropped 5.4 percent to $5.6 billion in first-quarter 2001 from $5.9 billion in first-quarter 2000, according to Insurance Services Office, Inc. (ISO) and...
A.M. Best Study Reports P/C Premiums Show Strong Growth, Earnings Remain Depressed During 1Q 2001 J
Jul 5 2001 // According to an A.M. Best Co. special-report excerpt published in the July 2 issue of BestWeek, property/casualty net premiums written showed the strongest growth since the tail end of the last hard market in the second...
Q1 Results: P/C Industry Premiums Up; Net Income, Surplus Down
Jun 27 2001 // The U.S. property/casualty industry’s net income after taxes dropped 5.4 percent to $5.6 billion in first-quarter 2001 from $5.9 billion in first-quarter 2000, according to Insurance Services Office Inc. (ISO) and...
Mitchell Intnl. Announces Nationwide Availability of Total Loss Settlement Solution
Jun 26 2001 // San Diego, Calif.-based Mitchell International, a source for information software and e-business solutions for the insurance and automotive repair industries, announced nationwide availability of iNTOTAL.COM, an...
Cincinnati Financial Profits Take Hit
Jun 25 2001 // Second-quarter profits for Insurer Cincinnati Financial Corp. appear to be taking a hit due to larger-than-usual storm losses along with other major insurance claims. Based in Cincinnati, the company insures cars, homes...
Flood Insurance Claims-Be the Calm After the Storm: Facts Every Agent and Consumer Needs to Know
Jun 25 2001 // After a community has experienced a flood, restoring homes and businesses can be a long and difficult process. While the cleanup process can seem overwhelming at best, a careful, orderly approach will help your insured...
Progressive Reports May Results
Jun 18 2001 // The Progressive Corporation, based in Mayfield Village, Ohio, reported a GAAP combined ratio of 97.5 for May. Net premiums written for the month gained 11 percent to $557.0 million, compared with $502.4 million last year....
