Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Q4 Reports: Earnings Continue to Disappoint
Feb 20 2012 // The Hartford Q4 Profit Down 79% Hartford Financial Services Group reported $127 million for its 2011 fourth-quarter net income, down 79 percent from one year ago. Results were dragged down by higher net capital losses and...
U-Haul Parent to Strengthen Loss Reserves on Discontinued Workers’ Comp Business
Feb 20 2012 // Reno, Nev.-based AMERCO (Nasdaq: UHAL) announced earlier this month that following an internal review of its property and casualty subsidiary’s excess workers’ compensation business, Repwest will take a third...
Fairfax Financial’s Quarterly Loss Widens on Cat Claims
Feb 17 2012 // Fairfax Financial Holdings, the property and casualty insurer run by investment guru Prem Watsa, said on Thursday that its fourth-quarter loss widened by 56 percent due to catastrophe claims and losses on the...
State Auto Increases Specialty Business in 2011
Feb 16 2012 // State Auto Financial Corp., headquartered in Columbus, Ohio, reported fourth quarter 2011 net income of $100.6 million, or $2.49 per diluted share, versus $37.6 million, or $0.94 per diluted share, for the fourth quarter...
Meadowbrook Reports Revenue Increase, Higher Combined Ratio in 2011
Feb 16 2012 // Meadowbrook Insurance Group Inc., headquartered in Southfield, Mich., reported an 11.6 percent increase in revenue for the full year 2011 and a GAAP combined ratio of 99.7 percent compared to 95.0 percent in 2010. Net...
Lexington Offers International Student Tuition Income Loss Coverage
Feb 16 2012 // Lexington Insurance Co. has introduced HELP – International Catastrophe, a coverage designed to reimburse colleges and universities for the loss of tuition-related income that results when an enrolled international...
PERILS Estimates Windstorm Andrea Property Losses at $350 Million
Feb 15 2012 // According to PERILS, the Zurich-based catastrophe data provider, initial loss estimates for property losses caused by windstorm Andrea, which struck Western Europe at the beginning of January, are €267 million [$350...
Marsh & McLennan Posts $256M Q4 Profit, Up 26% From Prior Year
Feb 14 2012 // Marsh & McLennan Companies reported $256 million for its 2011 fourth-quarter net profit, up 26.1 percent from one year ago when it posted $203 million profit. For the 2011 full year, Marsh & McLennan posted net...
Lloyd’s Estimates Thai Flood Losses at $2.2 Billion
Feb 14 2012 // Lloyd’s announced that it is estimating its overall net claims from the flooding in Thailand last year to be in the $2.2 billion range. The figure is based on an industry loss estimate of between $15 and $20...
Earnings Report: Montpelier Re
Feb 13 2012 // Q4 2011 Q4 2010 Gross premiums written —- $91.7 mn $102.3 mn Full year – 2011 2010 $725.5 mn $720.0 mn Net premiums earned ——- $148.3 mn $162.2 mnn Full year – 2011 2010 $622.7 mn $625.4 mn Net...
Obama Budget Seeks Higher Taxes on Big Business
Feb 13 2012 // President Barack Obama’s 2013 budget proposal, released on Monday, calls for raising hundreds of billions of dollars from U.S.-based global companies, while ending cherished deductions and tax breaks for oil...
North Carolina Insurers Still Hoping for Medical Loss Ratio Waiver
Feb 13 2012 // The U.S. Department of Health and Human Services is going overtime as it decides whether to stick with federal standards that could mean $12 million in rebates for more than 58,000 North Carolina residents who buy their...
Best Analyzes Impact of Flood Losses on Thai Insurance Industry
Feb 10 2012 // A.M. Best Co. has released a briefing that provides updated estimates of insurers’ losses from the Thailand floods. The overall industry wide insurers’ loss estimates from the floods have increased 50 percent...
Hanover Posts $49M Q4 Profit; Pricing Improved in Commercial Lines
Feb 10 2012 // The Hanover Insurance Group, based in Worcester, Mass., reported $49.3 million for its 2011 fourth-quarter net income, down 15.6 percent from one year ago when the insurer posted $58.4 million profit. For the 2011 full...
Earnings Reports: Everest Re, XL Group
Feb 10 2012 //
Have Insurers Lost the Capacity to Run an Underwriting Profit?
Feb 9 2012 // We frequently hear people ask, “When is the next hard market going to come?” And by that they typically mean double-digit increases in premium growth for a sustained period of time. Of course, no one knows. But...
The Hartford Reports $127M Q4 Profit, Down 79% From One Year Ago
Feb 7 2012 // Hartford Financial Services Group reported $127 million for its 2011 fourth-quarter net income, down 79 percent from one year ago when the company posted $619 million profit. Results were hurt by higher net capital losses...
Best Upgrades Fremont Ratings; Affirms Auto Club Group, P/C Members
Feb 7 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Michigan-based...
Selective Posts $16M Q4 Profit; Jan. Commercial Renewal Rates Up 4.5%
Feb 7 2012 // Selective Insurance Group, based in Branchville, New Jersey, reported $16.1 million for its 2011 fourth-quarter net income, down 32 percent from one year ago when the insurer posted $23.8 million profit. For the 2011 full...
