Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
LOSSES FOR ALLSTATE
Jun 26 2000 // April and May produced $340 million in catastrophe losses for Allstate Corp., whose June 15 announcement triggered a 7 percent reduction in the company’s stock value. The estimated losses were in addition to severe...
Penn-America Group Second Quarter Results Expected to Fall Short of Analysts’ Estimates
Jun 22 2000 // Penn-America Group, Inc. expects second quarter earnings estimates to be lower than the consensus estimate of $0.21 per share. This lower expectation reflects losses in the company’s commercial property portfolio....
Allstate’s Announced Catastrophe Losses Trigger Stock Downturn
Jun 16 2000 // There were no April Showers or May Flowers for Allstate Corp. this year. Rather the two spring months produced $340 million in catastrophe losses for the direct writer, whose announcement yesterday triggered a 7 percent...
P/C Industry’s Net Income Drops by a Third in First Quarter 2000
Jun 14 2000 // The U.S. property/casualty industry’s net income after taxes dropped 35.4 percent to $5.8 billion in first-quarter 2000, down from $9 billion in first-quarter 1999, according to Insurance Services Office, Inc. (ISO)...
I.I.I. Economist Comments on First Quarter 2000 Results
Jun 14 2000 // The property/casualty insurance industry reported a statutory rate of return of 7.0 percent (on an annualized basis) during the first quarter of 2000, down from 10.7 percent in same quarter of 1999 but up from 6.6 percent...
Historic or Brand New -It’s a High-Valued Home Sweet Home
Jun 12 2000 // It’s spring home-buying season, and realtors throughout California are reporting that despite interest rate fluctuations and a seesawing stock market, the real estate market is hotter than ever. From Ventura to...
Heavy Rains Cause Flood Loss in U.K.
Jun 6 2000 // Unseasonably heavy rains over the weekend caused extensive flood damage in northeast England. “Almost 30 hours of continuous rain caused the river Calder to burst its banks, flooding the town of Todmorden. Water was...
InsWeb To Trim Staff, Revenues Expected To Fall Short
Jun 5 2000 // Reuters news service reported the company said it would cut 40 percent of its staff of more than 200 as it discontinues certain operations and consolidates its main businesses. Revenues for the second quarter are expected...
Farmers Offers Loss Reporting Via the Internet
Jun 2 2000 // Once a Farmers customer accesses the Claims web page, they will be able to enter information such as their policy number, details surrounding the loss, where they can be contacted and the best time for Farmers to contact...
French Insurance Association Ups Storm Loss Estimates
May 31 2000 // Federation Francaise des Societes d’Assurance (FFSA) president Denis Kessler said yesterday that the loss estimates from last winter’s storms, Lothar and Martin, would top 45 billion francs ($6.4 billion)...
WCIRB Reports Final Summary of 1999 Year-End Results for California
May 26 2000 // On May 25, the Workers’ Compensation Insurance Rating Bureau (WCIRB) released its final summary of year-end statewide results, updating a preliminary summary released April 7, 2000. The WCIRB continues to report...
ING 1st Quarter Profits Up 32 Percent
May 26 2000 // Holland’s ING Group announced earnings increases in both its banking and insurance sectors for the 1st quarter. Net pretax profit from combined operations rose 32 percent from €775 million ($697.5 million) to...
Lloyd’s Amlin Plc Posts Profit For 1999
May 19 2000 // Not all Lloyd’s underwriters are losing money. Amlin Plc, reporting on an annual basis for the first time, posted a 1999 pre-tax profit of £18.3 million ($27 million). Amlin owns 57.8 percent of three Lloyd’s...
Stirling Cooke Brown Reports $1 Million 1st Quarter Loss
May 16 2000 // Bermuda based insurance broker and program manager Stirling Cooke Brown Holdings Ltd., posted a $1 million net loss for the 1st quarter, compared with net income of $3.6 million last year. Total revenues for the quarter...
American Re Announces $58.9 Million 1st Quarter Loss
May 15 2000 // American Re Corp., the U.S. subsidiary of Munich Re, announced a 1st quarter loss of $58.9 million, compared with profits of $57 million for the same period last year. “The result for the first quarter of 2000...
Frontier Reports $13.6M First Quarter Net Loss
May 15 2000 // Frontier Insurance Group Inc. announced its first quarter 2000 unaudited results. The report shows a net loss of $13.6 million for that period compared to net income of $13.1 million for the first quarter of 1999. In...
A Good 1st Quarter For International Insurers, As Earnings Reports Show Increase
May 10 2000 // ACE Ltd. isn’t the only insurance company to see earnings increase in the 1st quarter. Despite some difficulties, notably the December storms in Europe, most earnings reports have been positive. It seems most of the...
Reliance Reports Greater Than Expected Losses
May 10 2000 // U.S. insurer Reliance Group Holdings has reported greater-than-expected first-quarter losses based on poor underwriting performance. The New York-based company has seen share prices plummet 86 percent over the last two...
American Safety Reports First-Quarter Loss
May 9 2000 // American Safety’s first quarter 2000 included a net operating loss of $1.8 million, compared to earnings of $1.7 million for the first quarter 1999. However, net premiums for first quarter 2000 increased 116 percent...
Royal & Sun Profits Fall
May 5 2000 // Royal & Sun Alliance Insurance Group shares fell nearly five percent Thursday on word that the British financial service company’s first quarter profits fell 4.8 percent. Turning around the group’s...
