Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Playing The Green: Insuring Golf Courses
Oct 9 2000 // It’s a well known fact in the insurance industry that we are also, in large part, the golf industry. Nine times out of 10, a golf tournament will accompany a convention. Want to raise money for charity? Sponsor a...
Calif. Sits on Epicenter of National Quake Survey
Oct 2 2000 // According to the first national survey of earthquake risks, 75 percent of all losses are expected to occur in California. But quakes are not a problem for just the Golden State, as the study shows that other areas of the...
Hiscox 1st Half Profits Lowered by Lloyd’s Losses
Sep 29 2000 // Hiscox Plc, which does business independently and in the Lloyd’s market as syndicate 33, saw 1st half profits drop to £100,000 ($146,000) from £1.4 million ($2.04 million) in the same period last year as a result...
InsWeb Raises Revenue Outlook for Second Half of 2000
Sep 29 2000 // Updating its previously announced revenue expectations for the second half of fiscal 2000, Redwood City, Calif.-based InsWeb raised its previous outlook of $8 million to now exceed $9 million. Hussein Enan, InsWeb CEO,...
Industry Tallies Ohio Tornado Losses
Sep 28 2000 // The combined damage caused by a tornado that ripped through Xenia, Ohio Sept. 20 and storms in several other counties, has been estimated at more than $33 million in insured losses, according to the the Ohio Insurance...
Cincinnati Financial Underwriting Profits Expected to Drop for Q3
Sep 28 2000 // Cincinnati Financial Corp. expects decreased underwriting profitability at its property casualty insurance affiliates in the third quarter due to large losses from fires and commercial liability. The insurer’s...
Property/Casualty Insurers Watch Profits Fly Out the Window
Sep 25 2000 // ISO, NAII Report First-Half Net Income for Insurers Plunged; Fitch Adopts Negative P/C Outlook It hasn’t gone to hell in a handbasket yet, but the outlook for the property and casualty industry is far from good. On...
AXA Posts 28.8 Percent Gain in Gross Revenue for 1st Half
Sep 21 2000 // Following a strong performance by its U.S. Financial Unit, AXA Financial, the French Group posted a net increase of 28.8 percent for its consolidated revenues to € 41 billion ($34.85 billion) for the first half of...
Playing the Green: Insuring Golf Courses
Sep 18 2000 // It’s a well known fact in the insurance industry that we are also, in large part, the golf industry. Nine times out of 10, a golf tournament will accompany a convention. Want to raise money for charity? Sponsor a...
Best Drops Amwest Group Rating to ‘B’
Sep 18 2000 // On Aug. 28, 2000, the financial strength rating of Amwest Group was downgraded from “A-” (Excellent) to “B” (Fair) by A.M. Best Co. The downgrade, applicable to Amwest Surety Insurance Company and...
Inspire: 2001 Revenues Could Be Affected By Pulled Contracts
Sep 15 2000 // INSpire Insurance Solutions Inc. may see its 2001 revenues cut due to the actions of troubled insurer Millers American Group. Millers is pulling out of some contracts and doing more business in-house as it plans to sell...
Allianz Capital Sales Boost 1st Half Profits – Targets U.S. Fund Manager
Sep 14 2000 // Allianz AG posted a 30 percent rise in 1st half profits to €1.6 billion ($1.38 billion) from €1.2 billion ($1.03 billion) last year. The gains, which exceeded analysts expectations, were due primarily to the disposals...
Commentary on First Half 2000 Results
Sep 14 2000 // The property/casualty insurance industry reported a statutory rate of return of 5.6 percent (on an annualized basis) during the first half of 2000, down from 8.2 percent during the first half of 1999 and 6.6 percent for...
Best Drops Amwest Group Rating to ‘B’
Sep 14 2000 // Amwest Group’s parent is the publicly-traded insurance holding company, Calabasas, Calif.-based Amwest Insurance Group Inc., primarily an underwriter of surety bonds which also writes property/casualty insurance...
P/C Industry’s First-Half Net Income Plunges; Combined Ratio at 109.2 for 2000
Sep 14 2000 // The U.S. property/casualty industry’s net income after taxes dropped to $10 billion in this year’s first half, down 32.5 percent from $14.9 billion a year ago. The industry’s surplus fell $7.6 billion, or...
Swiss Re Posts “Surprise” 1st Half Profit
Sep 13 2000 // Swiss Re posted a surprising 28 percent gain in net profits of SwFr 3.26 billion ($1.85 billion) for the 1st half of the year compared to SwFr 2.56 billion ($1.45 billion) in 1999. Although gross premiums written did rise...
New Catastrophe Model Estimates Annual Losses in Excess of $5 Billion
Sep 8 2000 // Applied Insurance Research announced the release of a new severe thunderstorm model for the United States. The model incorporates sophisticated statistical techniques and the most current information about thunderstorm...
NAPSLO Survey Shows Net Revenues for MGAs, Brokers Grow
Sep 4 2000 // Average pretax profit and net retained revenues for MGAs and brokers increased in 1999, according to the results of the Income & Expense Survey recently completed for the National Association of Professional Surplus...
L/H PROFITS DROP $203 MILLION
Sep 4 2000 // The nation’s life and health insurers experienced a $203 million, or 1.6 percent, decline in operating profits during the first three months of 2000, as compared to the year-earlier period, according to a study by...
SCOR Reports Lower 1st Half Earnings
Sep 1 2000 // French reinsurer SCOR announced first half results which were somewhat lower than anticipated. Net earnings dropped from 1999’s €70 million ($62.3 million) to €36 million ($32 million) for the period. “The...
