Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Transatlantic Holdings Releases First Quarter Results
Apr 27 2000 // Transatlantic is a leading international reinsurer headquartered in New York, with assets of $5.5 billion and stockholders’ equity of $1.7 billion. Its subsidiaries include Transatlantic Reinsurance Co. and Putnam...
AIG Releases First Quarter Results
Apr 27 2000 // Excluding net realized capital gains, income increased 15.5 percent to $1.36 billion, compared to $1.18 billion in the first quarter of 1999. Income before taxes, minority interest and realized capital gains for the first...
Chubb Earnings Lower
Apr 25 2000 // The Chubb Corporation reported lower operating earnings and net income for the first quarter of 2000, partially a result of weather-related losses in the homeowners’ business. In addition, there were a number of...
Hartford Financial Life Earnings Up
Apr 24 2000 // First-quarter earnings posted today by Hartford Financial Services Group, driven by strong results from Hartford’s Life business, will beat Wall Street expectations. Core earnings were $226 million for the quarter,...
American Names Set to Take on Lloyd’s of London on Home Turf
Apr 24 2000 // The accusations are fierce, the stories heart-wrenching. Lost homes, marriages, fortunes and even lives are piling up on the doorstep of Lloyd’s of London, which has been accused for years of not disclosing potential...
1999 Financial Results Expose Another Rough Year for Insurers
Apr 24 2000 // The results are in for the property/casualty industry’s fourth quarter and year end, and they don’t look any better than 1998. In fact, with the exception of a small acceleration of premium growth, 1999 was...
Allstate Profits Drop; Cat Claims to Blame
Apr 20 2000 // Allstate Corp.’s first-quarter operating profits fell 27 percent, due largely to higher than expected catastrophe claims. The country’s number two property-casualty insurer announced that operating profit,...
Progressive Losses Stack Up
Apr 19 2000 // Progressive Corp.’s first-quarter report shows $47 million in losses, mostly due to payments on claims from U.S. storm damage last year. The Ohio-based insurer reported a net loss of $46.6 million, down from a profit...
Hilb, Rogal and Hamilton Co. First Quarter Results
Apr 19 2000 // Hilb, Rogal and Hamilton Co.’s (HRH) total revenues for the first quarter rose 33.3 percent to $67 million, up from $50.3 million a year ago. The comparison reflects American Phoenix Corp. revenue additions as well...
SAFECO Announces First Quarter Underwriting Loss
Apr 19 2000 // Seattle-based SAFECO Corp. announced that both Property & Casualty and Life & Investments operations performed below expectations during the first quarter. The underwriting loss is expected to be in the...
Citigroup Announces 52 Percent Increase in Profits
Apr 17 2000 // First-quarter 2000 might be the charm for Citigroup Inc., the world’s largest financial services firm. Initial reports indicate a 52 percent rise in first-quarter profits. Most of the gains are due to success in the...
SAFECO First Quarter Profits Unremarkable
Apr 14 2000 // SAFECO Corp. expects first quarter profits to fall far short of Wall Street expectations due to a wide range of factors including inadequate premiums to costly storms in Texas. The Seattle-based company expected to post...
WORKERS’ COMP MARKET OVERVIEW
Apr 3 2000 // CALIFORNIA STILL CRAZY AFTER ALL THESE YEARS By Sky Barnhart “After five years of product being given away, it’s a crazy, crazy market, and it’s put a lot of people on the producers’ side out of...
Australia Juggles Mergers & Disasters
Apr 3 2000 // Driven in part by 1999’s particularly poor results, and perhaps encouraged by the recent mega-merger announcements from Europe (CGU-Norwich Union and Deutsche Bank-Dresdner Bank), Australia’s insurance/...
The Unraveling of Superior National
Mar 30 2000 // Editor’s Note: This article was written by Standard & Poor’s analyst Darin Feldman, and is printed with permission. In its 1998 annual report “Survival of the Fittest,” Superior National...
Loss Forces Re-Australia To Run Off Book
Feb 21 2000 // Large losses have reduced Reinsurance Australia’s capital to the point that it no longer meets the requirements for its Australian reinsurance license, thus forcing the company to formally stop writing new...
AXA Earnings Increase Estimated at 15 Percent
Feb 11 2000 // Even though net income will be reduced by around 100 million Euros ($98 million) caused by the year-end storms which struck France, AXA S.A. announced a significant estimated earnings increase of 15 percent over 1998...
Allianz Estimates Europe Storm Losses at Over $600 Million
Feb 3 2000 // Germany’s Allianz reported that the storms which swept Europe at the end of December had resulted in claims estimated at 625 million Euros ( $612 million). $107 million in claims for property and automobile damages...
Markel Reports Record Earnings
Feb 3 2000 // Markel Corporation announced record earnings from core operations for the year ended December 31, 1999, while net income decreased to $7.20 per diluted share from $10.17 per diluted share in 1998. The decrease in 1999 net...
French Insured Storm Losses Put at $4.4 Billion
Feb 2 2000 // Confirming previous estimates, the Federation Francaise de Societes d’Assurance reported Monday that over 3 million damage claims had been filed as a result of the storms which hit France at the end of December....
