Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
The Hartford to Purchase Fortis; Fourth Quarter Core EPS Up 10 Percent
Jan 26 2001 // The Hartford Financial Services Group has announced that it will acquire the individual life insurance, annuity and mutual fund businesses of Dutch-Belgian bank-insurance giant Fortis Inc. for $1.12 billion in...
Crawford Reports 2000 Results
Jan 26 2001 // Crawford & Company has announced financial results for the fourth quarter and year ended December 31, 2000, showing revenues declined 11 percent, from $191.2 million reported in 1999 to $170.2 million in...
Heavy Losses Feared in India Quake
Jan 26 2001 // Damage reports are still coming in from the huge earthquake, estimated to have measured 7.9 on the Richter scale, which struck near the town of Bhuj in the Indian State of Gujarat at 8:50 a.m. local time this morning. At...
Insurers 2000 Cat Losses Total $4.3 Billion, 53 Percent Below 10-Year Average
Jan 24 2001 // U.S. property/casualty insurers paid $4.3 billion in catastrophe claims, making 2000 the second-lowest year for catastrophe losses in the last 10, according to estimates by Insurance Services Office’s Property Claim...
Quotesmith.com Reports Net Loss
Jan 24 2001 // Quotesmith.com expects a net loss of between $8 million and $9 million in 2001 on revenues of roughly $11 million – a figure based on projected marketing expenses. The company does not intend to increase quarterly...
Florida-Based Insurer Brown Brown Reports 29 Percent Increase in Net Income
Jan 23 2001 // Brown & Brown Inc. has reported a 29 percent gain in fourth-quarter net income. But the big gain was not reflected in the company’s stock, which closed at $32.75 a share, down $2.25. Earnings for the fourth...
The St. Paul Companies Reports Fourth-Quarter and 2000 Results
Jan 23 2001 // The St. Paul Cos. has reported 2000 net income of $993.5 million, or $4.24 per diluted share, up 24 percent from 1999. Net income for the fourth quarter of 2000 was $193.5 million, or $.83 per diluted share, an increase of...
Allmerica Says Loss Impact to be Offset
Jan 23 2001 // Allmerica Financial Corp. expects fourth-quarter net operating earnings to be reduced by 29 cents per share due to catastrophic losses from winter storms. The company pointed out, however, it would recognize a tax benefit...
SAFECO Announces Fourth-Quarter and Year-End 2000 Results
Jan 22 2001 // Safeco has reported lower profits for 2000, and an operating loss for the fourth quarter. For the full year 2000, SAFECO reported net income of $114.6 million, or $0.90 per diluted share, on revenues of $7.1 billion....
RSA Doubles Storm Loss Estimates
Jan 19 2001 // Britain’s Royal & Sun Alliance announced that loss estimates for the fourth quarter of 2000 are between £180 million ($267.5 million) and £200 million ($297 million) almost doubling the previous...
Brown & Brown Announces Record Earnings for 2000
Jan 19 2001 // Brown & Brown has announced record earnings for the year 2000. Earnings per share increased 23.4 percent to $1.16 for the year 2000, compared with $.94 per share for the year 1999. Net income for 2000 rose 23.9...
Citigroup Profits Rise 11 Percent
Jan 17 2001 // Citigroup Inc.’s fourth-quarter profits rose 11 percent, helped by solid growth in its consumer banking business. The company earned $3.33 billion or 65 cents a share, in the quarter, compared with $3 billion, or 58...
It’s a Surety Thing: Companies Are On the Move in the Surety Market
Jan 15 2001 // For the past decade, the surety market has been profitable and today, competition remains strong. Underwriters come and go while the economy plays a major role in this segment of the industry. Even with big losses in 1999,...
Safeco to Announce Fourth Quarter Loss
Jan 12 2001 // Safeco Corp. expects to report an operating loss of 5 cents to 10 cents per share for the fourth quarter, falling well short of analysts’ predictions of a profit of 19 cents per share. The Seattle company’s...
RLI Reports Modest Growth for 2000; Underwriting Results Mixed
Jan 11 2001 // RLI Corp. reported fourth quarter net operating earnings of $6.3 million ($.63 per diluted share), a 15 percent per-share decline over the $7.4 million ($.74 per share) result from the same quarter last year. Year-end...
Equitable Still Seeking a Buyer, Aims To Cap Losses
Jan 8 2001 // Struggling U.K. Mutual insurer Equitable Life has reportedly been having talks with pension fund managers aimed at capping the expected losses from guaranteed annuity payments it has been ordered to make. The talks are...
Missouri Property, Liability Insurance Profitable
Jan 8 2001 // Virtually all lines of Missouri property and casualty insurance, including liability coverage, remained profitable in 1999, although margins fell slightly from the previous year, based on data from the National Association...
Welcome to our First Ever
Jan 8 2001 // The demarcation between years always seems to take on a contemplative aspect. We look back to where we’ve been, and then look forward to weigh our expectations. Will the market continue to harden? Will the dot-coms...
Calif. Insurance Executive Leaves Firm for Non-Profit Sector
Dec 29 2000 // Greg Gallion, current vice president of American Title Co. in Bakersfield, Calif. will become chief executive of the nonprofit blood bank Houchin Blood Services where he has served as a board member for four...
Munich Re Survey Shows Natural Disasters Increase – Less Losses
Dec 29 2000 // Munich Re has released a survey of the natural disasters which occurred in the year 2000, citing over 850 worldwide catastrophes, 100 more than last year, but finds that the economic consequences were less, as many of them...
