Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Hannover Re Posts 2010 Growth as Net Income Tops $1 Billion
Mar 9 2011 // Germany’s Hannover Re reported a “very pleasing year,” as after tax group net income rose to €748.9 million [$1.043 billion], from €733.7 million [$1.021 billion], despite the operational business...
SCOR Reports 13% 2010 Net Income Gain to $582 Million
Mar 8 2011 // French reinsurer SCOR Group continued to strengthen its financial position in 2010, posting net income of €418 million [$582.5 million] up 13 percent from 2009, and premium income of €6.7 billion [$9.34 billion], up 5...
Report Highlights 50% Jump in Asbestos, Environmental Losses
Mar 7 2011 // A soon to be issued report from A.M. Best details an increase in U.S. property/casualty insurers’ asbestos and environmental (A&E) incurred losses. The industry faced a 50 percent rise in 2009, after a 47...
Best Affirms CNA and Subs Ratings
Mar 3 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of CNA Insurance Companies and its P/C members, as well as the ICR of...
State Farm Posts $1.8 Billion Net Income for 2010 Despite Underwriting Losses
Mar 3 2011 // State Farm reported $1.8 billion in after-tax net income in 2010, compared with $800 million in 2009. The improvement “was driven by the P-C companies’ improved results,” said the bulletin, which also...
York Specialized Loss Adjusting Acquires Texas-based BC Johnson Assoc.
Mar 1 2011 // York Specialized Loss Adjusting (York SLA), a division of New Jersey-based York Risk Services Group Inc., announced it has acquired BC Johnson Associates, a provider of specialized loss adjusting and risk assessment...
QBE Group Posts $1.278 Billion 2010 Net Profit; $1.168 Billion Underwriting
Mar 1 2011 // The Australia-based QBE Group reported net after tax profits of *$1.278 billion for 2010, a 17 percent decrease from the $1.532 billion reported for 2009. However, the decline was almost entirely due to a drop in...
Validus Comments on NZ Quake Loss Estimates; Q1 Loss Activity
Mar 1 2011 // Bermuda-based Validus Holdings, Ltd. Has issued a comment on worldwide loss activity occurring in the first quarter of 2011, including the February 22 New Zealand earthquake. The 6.3 magnitude earthquake which struck the...
Flagstone Re Estimates $60-$80 Mn in Queensland Losses; NZ Quake in Process
Mar 1 2011 // Flagstone Reinsurance Holdings announced that its preliminary estimate from loss events that have occurred in Australia in the first quarter of 2011 is expected to be between $60 to $80 million, net of reinstatement...
Hiscox Posts Good Earnings, Despite a ‘Difficult Year’
Feb 28 2011 //
Chartis 4Q Loss Tied to Reserve Strengthening
Feb 25 2011 // American International Group Inc. reported net income of $11.2 billion for the quarter ended Dec. 31, 2010, and $7.8 billion for the full year 2010. Included in the 2010 fourth quarter results is a previously announced...
RBS Recovery Undermined by Irish Losses
Feb 24 2011 // Royal Bank of Scotland’s high bad debt charges in Ireland and a drop in investment banking income overshadowed the bank’s return to profit in the final months of 2010. Stephen Hester, chief executive of the...
Employers Holdings Reports Q4 Income of $20M
Feb 24 2011 // Reno, Nev.-based Employers Holdings Inc. has reported fourth quarter net income of $20.1 million compared with $11.3 million in the fourth quarter of 2009, an increase of $8.9 million in net income. The company said net...
Main Street America Group Reports Strong 2010 Results, Eyes Expansion
Feb 23 2011 // Jacksonville, Fla.-based The Main Street America Group reported that its 2010 financial results included 99.2 combined ratio, 9.1 percent net premium growth, a 16.8 percent return on equity and surplus growth of $78...
Medical Losses, Top Line Growth Top Challenges for Workers’ Comp
Feb 21 2011 // The workers’ compensation industry in the years ahead will exist much as it has for decades in many respects. Policyholders will purchase coverage from either an agent or a company, with a portion of the market...
Argo Group Q4 Net Income Drops to $12.8 Million, FY to $82.6 Million
Feb 18 2011 // The Bermuda-based Argo Group International Holdings, Ltd. posted lower net income figures for the fourth quarter of 2010 and for the full year. Highlights for the three months ended Dec. 31, 2010 were listed as...
Fairfax Financial Posts Q4 Loss on Investments
Feb 18 2011 // Toronto-based Fairfax Financial Holdings said Thursday it fell to a fourth-quarter loss as its stock and bond portfolios were hurt by rising interest rates and a decision to hedge investments. The Toronto-based property...
State Auto Sees Improvements in Q4 2010
Feb 18 2011 // State Auto Financial Corp., headquartered in Columbus, Ohio, reported fourth quarter 2010 net income of $37.6 million, or $0.94 per diluted share, versus $14.4 million, or $0.36 per diluted share, for the fourth quarter of...
Best Report Highlights 50% Jump in Asbestos, Environmental Losses
Feb 17 2011 // A soon to be issued report from A.M. Best details an increase in U.S. property/casualty insurers’ asbestos and environmental (A&E) incurred losses. The industry faced a 50 percent rise in 2009, following a 47...
Swiss Re 2010 Net Income up on Buffet Loan Repayment, but Miss Forecasts
Feb 17 2011 // Swiss Re struck a note of confidence on its pricing power and hiked its dividend, saying capital had recovered since it turned to U.S. billionaire Warren Buffett for help in the financial crisis. The world’s...
