Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
InsWeb Reports Solid Fourth Quarter Results
Dec 21 2000 // InsWeb, a provider of online insurance services, raised its revenue outlook to approximately $5 million for the fourth quarter of fiscal 2000. “InsWeb is enjoying a solid quarter, despite a traditionally slower...
More Floods Hit U.K., as Insurers Assess October Losses
Dec 15 2000 // Even as battered Britain was cleaning up the damages caused by severe floods in October, a new combination of heavy rain and high tides threatened Wales and the Southwest; the Severn river crested at over 14 1/2 feet,...
Cairnstone Re Executives Project Double-Digit Increase for Medical Stop Loss Coverage
Dec 14 2000 // Rates for employer stop loss medical insurance will rise significantly again next year as the health reinsurance marketplace continues to stabilize, according to executives with Cairnstone Re, an underwriter and medical...
Chinese Insurers Look To Public Offerings, as Earnings Increase
Dec 13 2000 // While foreign companies line up to enter the Chinese insurance market, China’s domestic insurers are doing so well that they’re looking to public offerings to raise additional funds. According to a report from...
Bermuda Tax Proposals: ‘Closing a Loophole’ or ‘ Pork Barrel Polics”
Dec 11 2000 // The taxation of foreign insurers, reinsurers, captives banks and financial service providers, involves some very complex international issues, heavily charged with “political considerations.” HR 4192, or the...
Premium Income Rises at Allianz – Eyes U.K. Acquisition
Nov 27 2000 // German insurance giant Allianz AG announced that premium income for the first 9 months of the year reached a record €50.9 billion ($42.675 billion) a 15.5 percent rise over 1999. Property and casualty operations...
Buse Named President of IIAA’s For-Profit Subsidiaries
Nov 27 2000 // Paul A. Buse has been named president of the Independent Insurance Agents of America’s for-profit subsidiaries, IIAA Membership Services Inc. and IIAA Agency Administrative Services Inc. As president, Buse will...
Equipment Breakdown Coverage: Not Your Father’s Boiler & Machinery Insurance
Nov 27 2000 // Equipment breakdown coverage: it’s the modern-day descendant of what has been traditionally referred to as boiler and machinery insurance. And today’s businesses need it just as much as they did in the old...
Fremont Cuts P/C Staff, Focuses on Thrift & Loan Profits
Nov 27 2000 // As part of a cost-cutting initiative, Santa Monica, Calif.-based Fremont General Corp. has reduced the production and claim service offices of Fremont Compensation Insurance Group from 41 to 24. Of these remaining offices...
ING : Profits Up – Barings Out
Nov 20 2000 // At the same time that Dutch financial services giant ING announced increased profits for the first 9 months of the year, it also confirmed widespread rumors that it was “reviewing the future positioning of its...
Liability Coverage for Breaches of Contract
Nov 20 2000 // Knowledgeable people think that liability insurance is for accidents. Standardized liability insurance policies-homeowners, auto and commercial general liability-are worded so that the idea of an accident is at the heart...
Liability Coverage for Breaches of Contract
Nov 20 2000 // Knowledgeable people think that liability insurance is for accidents. Standardized liability insurance policies-homeowners, auto and commercial general liability-are worded so that the idea of an accident is at the heart...
Reliance Group Reports $546 Million Loss for Third Quarter
Nov 15 2000 // Reliance Group Holdings reported a net loss of $546.5 million, or $4.76 per diluted share, for the third quarter, including an after-tax charge of $215.8 million for increasing net loss reserves by $332 million pretax. It...
AXA Posts Record $53 Billion Consolidated Revenue for 1st Nine Months
Nov 14 2000 // France’s AXA Group announced that consolidated revenues had risen 28.9 percent (14 percent on a comparable basis, which reconciles currency fluctuations and accounting procedures) to a record €61.8 Billion ($53.15...
American Re Announces 3Q, Year-to-Date Results
Nov 14 2000 // American Re Corp., a member of the Munich Re Group and one of the leading writers of reinsurance in the U.S., reported net income to its common stockholder of $14.0 million for the quarter ended September 30, 2000,...
Calif. Workers’ Comp Puts Damper on American Financial Group 3Q Results
Nov 14 2000 // American Financial Group Inc. (AFG) announced a $10.8-million loss ($.18 per share) for third quarter 2000. The loss includes $22.8 million, after-tax ($.39 per share), for strengthening the loss reserves of its California...
Fremont General Cuts WC Losses, Continues to Reduce P/C Workforce
Nov 14 2000 // Fremont General Corp.reported net income of $10,936,000 for the third quarter of 2000, comprised of net income from continuing operations of $6,272,000 and an after tax gain on the extinguishment of debt of $4,664,000. The...
Berkshire Hathaway Earnings Up
Nov 13 2000 // Warren Buffett’s Berkshire Hathaway has reported third-quarter profits this year nearly doubled those from 1999. Modest insurance holdings gains helped Berkshire see a 90-percent increase in net earnings for the...
ZENITH REPORTS LOSS
Nov 13 2000 // Zenith National Insurance Corp. reported an operating loss after tax of $5.1 million, or 30 cents per share, for the third quarter of 2000, compared to an operating loss after tax of $38.8 million, or $2.26 per share, for...
GOOD NEWS FOR MARSH
Nov 13 2000 // Marsh & McLennan Companies (MMC) reported strong revenues and earnings for both the quarter and nine months that ended Sept. 30. For the quarter, MMC’s revenues rose 14 percent to $2.5 billion from $2.2 billion...
