Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Utilities Market Still Softening Despite ‘Mega’ Claims: Willis
Aug 4 2010 // Insurance rates in the power sector are expected to soften further in 2010, despite the existence of many of the conditions that would normally presage a hardening market, according to the latest Power Market Review from...
State Auto Reports Net Loss of $26.2M in Q2 2010
Aug 4 2010 // State Auto Financial Corp. has reported a second quarter 2010 net loss of $26.2 million versus a net loss of $3.2 million for the second quarter of 2009. State Auto’s combined ratio for the quarter was 115.2 versus...
July’s Catastrophes Cause Widespread Losses Globally: Aon Benfield
Aug 3 2010 // Floods in Pakistan and China have taken thousands of lives and damaged hundreds of thousands of homes, according to a new report on catastrophic events in July by a reinsurance team. A European heatwave, wildfires in...
Marsh Revenue Up 9% in Q2
Aug 3 2010 // Global insurance broker Marsh’s revenue in the second quarter of 2010 rose 9 percent to $1.2 billion from the same period in 2009. Revenue growth in international operations was 6 percent, reflecting 3 percent growth...
Mercury General Reports Q2 Net Premiums Written Down 1 percent
Aug 2 2010 // Mercury General Corp. reported it spent $12.1 million in the second quarter of 2010 supporting Proposition 17, a California ballot initiative that did not pass. Nevertheless, the Los Angeles-based insurer reported net...
Top 25 Carriers’ First Quarter Results Show Soft Market May Have Finally Hit Bottom
Aug 2 2010 // The American psychologist and philosopher William James once said, “Pessimism leads to weakness, optimism to power.” This may be the adage of the Top 25 Property/Casualty companies based upon the dollar amount...
Aon’s Q2 Results Boosted by Acquisitions, Brokerage Business
Jul 30 2010 // Aon reported net income of $153 million in the second quarter 2010, compared to $149 million for the prior year quarter. Net income from continuing operations increased 22 percent to $179 million, compared to $147 million...
New International Accounting Standard Aims to Clarify Insurers’ Profits
Jul 30 2010 // A global accounting standard setter proposed a new rule for measuring insurers’ profitability on Friday, aiming to shine a light on a sector criticised by investors for being a “black box” that keeps them...
Seabright Has Q2 Net Loss of $15.5 Million
Jul 30 2010 // SeaBright Holdings Inc. reported a second quarter net loss of $15.5 million or $0.74 per basic and diluted share, primarily due to the recognition of adverse development of prior years’ loss reserves. This compares...
SCOR’s Q2 Net Income up 32% to $157 Million; $204 Million Half Year
Jul 29 2010 // French reinsurer SCOR had a very satisfactory second quarter with net income of €120 million ($156.75 million), compared to €91 million ($119 million) in the second quarter 2009, a 32 percent rise. The increase...
Everest Re Posts $156.7 Million Q2 Net Income; CEO Taranto to Step Down
Jul 29 2010 // The Bermuda-based Everest Re Group reported second quarter 2010 after-tax operating income, which excludes net realized capital gains and losses, of $184.8 million, or $3.18 per diluted common share, compared to after-tax...
Aspen Q2 Net Steady at $109 Million; Operating $105 Million
Jul 29 2010 // Bermuda-based Aspen Insurance Holdings Limited reported net income after tax for the second quarter of 2010 of $108.9 million, or $1.28 per diluted share. Operating earnings, which excludes capital gains/losses, was up...
Endurance Reports Q2 Net Income of $58.6 Million; $57.7 Million Operating
Jul 29 2010 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $58.6 million and $0.97 per diluted common share for the second quarter of 2010, compared to net income of $149.1 million and $2.42 per diluted common...
RenRe Reports $210 Million Q2 Net Income: $140 Million Operating
Jul 28 2010 // Bermuda,-based RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $210.2 million or $3.66 per diluted common share in the second quarter of 2010, compared to net income available to common...
ACE Reports $677 Million Q2 Net Income; Operating $688 Million
Jul 28 2010 // ACE Limited reported net income for the quarter ended June 30, 2010, of $677 million, or $1.98 per share, compared with $535 million, or 1.58 per share for the same quarter last year. Income excluding net realized...
Montpelier Re Reports $70 Million Q2 Net Income; $73 Million Operating
Jul 27 2010 // Bermuda-based Montpelier Re Holdings Ltd., which specializes in short-tail reinsurance and other specialty lines, reported financial results for the second quarter ended June 30, 2010. Fully converted book value per share...
Pareto’s 80/20 Continued. Shrinking your book for growth
Jul 26 2010 // Pareto was right. The 80/20 rule works in insurance. If you applied the 80/20 rule to your book you’ve probably discovered that the top 20% of your clients generate 80% of your revenue. Now what do we do with this...
Report Forecasts Rough Sailing for Canadian Insurers’ Results
Jul 26 2010 // Investors hoping for improved results from Canada’s insurers may want to brace for disappointment, with weak stock markets and lower bond yields seen taking take a bite out of quarterly earnings. Analysts said the...
Weather Claims Erode Travelers Profits
Jul 23 2010 // Weather-related claims of nearly $440 million dragged down profits by 9 percent at Travelers, which reported second quarter net income of $670 million, down from the $740 million the insurer earned in the year-ago...
Louisiana, Texas Gain Jobs in June; Arkansas, Oklahoma Post Losses
Jul 21 2010 // The South Central states of Louisiana and Texas posted job gains for the month of June, but Arkansas and Oklahoma saw slight losses in employment. The Louisiana Workforce Commission reported Louisiana’s seasonally...
