Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Horace Mann Issues Earnings Warning
Jul 7 2000 // Horace Mann Educators Corp. expects second-quarter results to fall well below analyst expectations based on non-catastrophic property-loss claims. The company made the announcement today, saying it also is planning several...
Calif. Low-Income Car Insurance Pilot Program Launches Tomorrow
Jun 30 2000 // A plan geared to reduce the number of uninsured motorists in Los Angeles and San Francisco will begin Saturday, with civic leaders nationwide watching closely to see if it might work in their communities. The program,...
RAA First-Quarter Reinsurance Results Released
Jun 27 2000 // Results of a survey of statutory underwriting results, conducted by the Reinsurance Association of America (RAA) show a group of 32 property/casualty reinsurers wrote $5.9 billion of premiums during the first quarter of...
ALLSTATE’S CATASTROPHE LOSSES HIGH
Jun 26 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 June 15 triggered a 7 percent...
P/C Industry’s Net Income Dropsby a Third in First-Quarter 2000
Jun 26 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)...
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...
