Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
InsWeb Estimates Lower Results in Second Quarter
Jun 12 2001 // Online insurance marketplace InsWeb Corporation announced that net loss for the second quarter ending June 30, 2001, would be wider than consensus estimates due to ‘disappointing’ growth in its auto insurance...
KKR, Plumeri Set to Profit from Willis’ Share Sale
Jun 11 2001 // Willis Group Holdings released a prospectus in connection with its public share offering giving compensation figures for CEO Joseph Plumeri, who took over management of the world’s third largest insurance broker last...
The Middleton Group Releases its Biannual Compensation Survey: How Does Your Agency Compare’
Jun 11 2001 // Not surprisingly, compensation continues to be the single largest agency expense. The average independent agency in the U.S. spent between 62.2 percent and 66.3 percent on compensation in 2000, according to The Middleton...
After Deal with iwix.net Goes Sour, ebix.com Turns to Esurance
Jun 11 2001 // On May 29, Atlanta-based ebix.com struck a deal with Esurance Inc., a national quote-to-claims Internet-based provider of personal auto insurance. Under the terms of the deal, Esurance will offer instant online auto...
How Does Your Agency Compare’ The Middleton Group biannual compensation survey
Jun 4 2001 // Not surprisingly, compensation continues to be the single largest agency expense. The average independent agency in the U.S. spent between 62.2 percent and 66.3 percent on compensation in 2000, according to The Middleton...
GAINSCO, INC. Reports First Quarter Losses
Jun 4 2001 // Nonstandard property and casualty insurance holding company, GAINSCO, INC., reported a $1.2 million net loss for the first quarter 2001, compared to a first quarter 2000 net loss of $0.1 million. Fort Worth-based GAINSCO...
HCC Insurance Holdings Increases Earnings for First Quarter
Jun 4 2001 // Houston-based HCC Insurance Holdings Inc. announced that earnings increased for the first quarter of 2001 over the same period last year. The company said net earnings increased by 27 percent to $15.2 million or $0.28 per...
Fortis Reports Q1 Profits Fell 5% to $687 Million
Jun 1 2001 // Fortis, the Dutch-Belgian financial services and insurance group, announced that net profits for the first quarter were 5 percent lower than last year’s figures, but reaffirmed its goal of increasing 2001 overall net...
State Auto Financial Announces Profitable Year at
May 31 2001 // State Auto Financial Corporation’s tenth annual meeting featured a recap of 2000, the sixth straight year the company has achieved an underwriting profit. State Auto Chairman Robert H. Moone stated that while the...
HIH Liquidator Confirms Minimum $1.4 Billion Loss
May 28 2001 // KPMG partner Tony McGrath, the provisional liquidator for Australia’s HIH Insurance Ltd., released his provisional estimates on Friday confirming the insurer’s mounting debts – the minimum deficit now...
ING Posts 10.6% Q1 Profit Gain To $997 Million
May 23 2001 // Holland’s ING Group, one of the world’s leading insurance and financial services companies, earned net profits of $997 million for the first quarter of 2001, a 10.6 percent increase over last year’s...
Tokio Marine Bucks Japan’s Economic Slump With 41 % Profit Increase
May 21 2001 // Tokio Marine & Fire Insurance Co. Ltd. reported that net profits grew 41 percent to 43.14 billion yen ($352 million) for the period March 2000/2001, despite the continuing economic slump affecting the Japanese...
A.M. Best Report: Asbestos Claims Surge Set to Dampen Earnings
May 21 2001 // The property/casualty industry may be facing a surge in asbestos claims that could cumulatively cost the industry as much as $65 billion. This new estimate of ultimate asbestos-related losses is nearly two-thirds higher...
Preparing to Sell or Merge Your Agency
May 21 2001 // One of the most difficult decisions that an owner will have to make is whether to sell an agency or to merge with another party. For the typical owner, more time has been spent working and building up the business than...
Zurich Profit Picture Still Unclear After Annual Meeting
May 18 2001 // Rolf Hüppi, Zurich’s Financial Services Chairman and CEO, painted a mixed picture for investors at the company’s annual shareholders meeting, even as his dual role was reaffirmed by a large...
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...
