Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
IRC Reports Increase in Losses in NY No-Fault Auto Claims
Apr 21 2001 // According to a new study by the Insurance Research Council (IRC), a division of the American Institute for CPCU and the Insurance Institute of America, losses in Personal Injury Protection (PIP) claims rose by 79 percent...
The Hartford Introduces Enhanced Commercial Coverage
Apr 21 2001 // The Hartford Financial Services Group now offers enhanced commercial coverage to accommodate an e-economy. Since many small and mid-sized companies are expanding their use of the Internet to incorporate it as a business...
Progressive Reports Quarterly Profit
Apr 20 2001 // Progressive Corporation reported profit for the first quarter of 2001. This reverses a year-ago loss for the Ohio-based company as it nudged insurance premiums up and held down the cost of claims. Progressive reports...
A.M. Best Reports U.S. Continued Weakening in U.S. Property/Casualty Results for 2000
Apr 16 2001 // According to a new A.M. Best Co. report, property/casualty results for the fourth quarter and the full year 2000 continued to weaken as the effects of the prolonged soft market overshadowed the benefits of price firming....
P/C Earnings Fall 7.5 Percent in 2000; Surplus Down for First Time Since 1984
Apr 16 2001 // The property/casualty insurance industry’s net income after taxes fell 7.5 percent last year to $20.2 billion from $21.9 billion the year before, according to figures released by the Insurance Services Office Inc....
P/C Earnings Fall 7.5 Percent in 2000; Surplus Down for First Time Since 1984
Apr 11 2001 // The property/casualty insurance industry’s net income after taxes fell 7.5 percent last year to $20.2 billion from $21.9 billion the year before, Insurance Services Office Inc. and the National Association of...
Australian Insurer HIH Seeks Bankruptcy Protection as Losses Mount
Apr 9 2001 // HIH Insurance Ltd., following in the footsteps of ReAC and GIO, became the latest Australian insurance company to be forced to the wall by mounting losses. Rumored to be in deep trouble for the last six months, the...
Combined Ratio for 2001 on Track to Hit Record High, ISO President Says
Apr 2 2001 // Amid signs that the property/casualty insurance market is improving, insurers’ prospects for greater profitability may actually be diminishing in today’s rapidly slowing economy, an industry leader warned. At...
Lloyd’s Optimistic Despite ’98,’99 Loss Figures
Mar 28 2001 // Lloyd’s announced preliminary estimates Tuesday that it would suffer an overall loss of at least £1.11 billion ($1.6 billion) for its 1999 year of account. It had already announced losses in 1998 of £1.06 billion...
Generali Posts 74 % Net Profit Gain to $1.28 Billion
Mar 27 2001 // Italy’s Assicurazioni Generali SpA posted net profits of €1.452 billion ($1.28 billion) for the year 2000, a healthy 74.1 percent gain over 1999. A capital gain of €273 million ($245 million) from its sale of its...
Combined Ratio for 2001 on Track to Hit Record High, ISO President Says
Mar 26 2001 // Amid signs that the property/casualty insurance market is improving, insurers’ prospects for greater profitability may actually be diminishing in today’s rapidly slowing economy, an industry leader warned. At...
WORKERS’ COMP IN CALIFORNIA: A Barren Landscape
Mar 26 2001 // Three months into the new year, the picture for the California workers’ comp market is not pretty, and it’s likely to get worse. Developments in recent weeks-including lowered ratings, carrier losses, declining...
Rig Loss Scares Off Petrobas’ Insurers
Mar 26 2001 // The explosion and fire which ripped through the world’s largest oil rig, killing 10 workers, and eventually causing the structure to sink in 3000 feet of water off the coast of Brazil, could not have occurred at a...
Fortis Posts 19% Net Profit Gain to $2.46 Billion
Mar 23 2001 // Fortis, the Belgian-Dutch financial services group, released its 2000 results showing a healthy gain of 19 percent in net operating profit to €2.768 billion ($2.463 billion) compared to €2.136 billion ($1.9 billion) in...
American Safety Reports Q4, Year End Results
Mar 22 2001 // American Safety Insurance Group reported fourth quarter and year end results for 2000 Wednesday, saying net operating earnings for the fourth quarter decreased by 50 percent to $726, 661 compared to the year-earlier...
Brazil Oil Rig Sinks, Losses Could Reach $650 Million
Mar 21 2001 // Despite five days of round-the-clock efforts to save it, the 40-story oil rig, the world’s largest, owned by the Brazilian state oil company Petrobas, sank Tuesday afternoon in over 3000 feet of water 80 miles off...
Moody’s: Losses Loom for Lloyd’s
Mar 21 2001 // Moody’s Investors Service Ltd. is forecasting that Lloyd’s of London will report losses of $5.23 billion for the four years of 1998 and 2001. Under Lloyd’s three-year accounting system, the next results...
BAND CROWS ABOUT LOST PROFITS
Mar 19 2001 // Band members of the rock group Black Crowes have sued Lloyd’s of London in L.A. Superior Court, alleging that it has failed to reimburse the group for lost profits and expenses its members suffered when former Led...
Combined Ratio for 2001 On Track to Hit Record High, ISO President Says
Mar 19 2001 // Amid signs that the property/casualty insurance market is improving, insurers’ prospects for greater profitability may actually be diminishing in today’s rapidly slowing economy, an industry leader warned. At...
Swiss Re Study Finds Lower Cat Losses, Rising Rates
Mar 16 2001 // A recent study released by Swiss Re, confirms that insured catastrophe losses for 2000 totaled $10.6 billion, falling significantly below those in 1999, which reached $32.9 billion.The survey also concluded that p/c...
