Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Australian Government Steps In As HIH Loss Estimates Mount
May 15 2001 // The Australian government plans to bail out at least some of the policyholders left stranded by the collapse of HIH Insurance last March, as loss estimates continue to mount. However HIH’s U.S.-based subsidiaries,...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2001 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
SAFECO TALLIES 1STQ PROFITS ON INVESTMENTS
May 13 2001 // Seattle-based SAFECO has reported a quarterly profit, noting gains from selling investments, increased life insurance earnings, and having to pay out less in storm claims through the winter. SAFECO noted first-quarter net...
Operating Profits Grow, But Overall Net Drops at Allianz Ireland
May 9 2001 // Allianz Ireland, the German insurer’s Irish subsidiary, registered a 54 percent increase in operating profits, reflecting an 11 percent increase in premiums, but still posted a drop in overall profits of 74 percent...
XL Capital Ltd. Reports 1Q 2001 Results
May 8 2001 // XL Capital Ltd reported that net income for the first quarter ended March 31, 2001 was $218.9 million (or $1.73 per share) compared with $223.8 million (or $1.77 per share) in the first quarter of 2000. According to a...
PartnerRe Q1 Net Income Dips as Premiums Rise
May 8 2001 // Bermuda’s PartnerRe Ltd. reported net operating earnings of $55.6 million for the first quarter, a slight decrease from the $57.1 million recorded last year. Net premiums written, however, increased to $597.8 million...
Canada Fairfax Reports 1Q 2001 Earnings
May 7 2001 // Canada’s Fairfax Financial Holdings Ltd. reported net income for the first quarter ended March 31 of $30.9 million (or $2.11 per share), down from $35.9 million (or $2.58 per share) for the same period in 2000. The...
Benfield Greig-E.W. Blanch to Create Third Largest Global Re Broker
May 7 2001 // On April 16, London-based Benfield Greig Group plc and E.W. Blanch Holdings Inc. of Dallas announced an agreement on merger terms. Benfield offered to purchase the outstanding shares of EWB for $13.50 a share, valuing the...
PROGRESSIVE REPORTS PROFIT
May 7 2001 // Progressive Corporation reported profit for the first quarter of 2001, reversing a year-ago loss for the Ohio-based company as it nudged insurance premiums up and held down the cost of claims. Progressive’s operating...
SCPIE Holdings Reports First-Quarter Results
May 5 2001 // For the first quarter ended March 31, SCPIE Holdings Inc., one of the nation’s major providers of healthcare liability insurance reported net operating income (excluding realized investment gains and losses) of $1.5...
CGNU Posts 12% Q1 Profit Increase to $636 Million
May 3 2001 // CGNU, Britain’s largest insurer, posted a healthy 12 percent gain in first quarter operating profits to £445 million ($636 million). Life, pension products and general insurance all registered gains over last...
Lloyd’s Posts 23% Gain in U.S. Premium Income
May 2 2001 // Led by a strong performance in its surplus lines business, Lloyd’s announced a 23 percent gain in U.S. premium income for the year 2000 to $5.9 billion from $4.8 billion in 1999. “This increase is a reflection...
Q1 Earnings Increase at ACE, PXRE, Annuity Life
May 2 2001 // Three Bermuda-based insurance groups, including the island’s largest insurer, ACE Limited, all posted significant earnings increases for the year’s first quarter. Despite adopting stricter accounting rules, ACE...
RLI Corp. Release First Quarter Earnings
May 1 2001 // RLI Corporation, a property/casualty underwriter based in Illinois, released its first quarter earnings of $7.1 million, compared with $6.5 million from the same quarter in 2000. Included in the result are net operating...
American Financial Profits Down
Apr 30 2001 // American Financial Group Inc., a Cincinnati-based insurer, reported a 71 percent drop in net profits in the first quarter after investment losses and higher costs. The company earned $13.1 million a share in the quarter,...
ISO Estimates Insurers To Pay $705 Million in First-Quarter Cat Damage
Apr 30 2001 // U.S. property/casualty insurers will pay homeowners and businesses in Texas $65 million for insured property losses from catastrophic events in the first quarter of this year. Only Washington and Mississippi incurred...
American Financial Profits Down
Apr 28 2001 // American Financial Group Inc., a Cincinnati-based insurer, reported a 71 percent drop in net profits in the first quarter after investment losses and higher costs. The company earned $13.1 million a share in the quarter,...
Swiss Re 2000 Profits Rose 21 % To $1.74 Billion
Apr 27 2001 // Swiss Re’s 2000 net profits rose 21 percent to SwFrs. 2.966 billion ($1.74 billion) on strong growth in all sectors, life, non-life, and return on investments. The company also announced a 20-for-1 stock split...
AIG’s First-Quarter Income Increases
Apr 27 2001 // American International Group Inc. (AIG), the largest underwriter of commercial and industrial insurance in the U.S., reported solid first-quarter results. AIG’s income, excluding the cumulative effect of an...
Chubb Profits on the Rise
Apr 26 2001 // Chubb Corp. reported that first-quarter operating profits increased 15 percent, mainly due to higher premiums and reduced costs for its commercial insurance. Net written premiums grew 9 percent, or 11 percent excluding the...
