Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
New Earthquake Risk Models Likely To Reduce Insured Loss Estimates
Aug 6 2009 // Newark, Calif.-based Risk Management Solutions (RMS) has unveiled its next-generation models for North America earthquake risks, covering the United States and Alaska, Canada and Mexico. The new models are likely to lead...
Insurance Broker Marsh Revenues Fell 7% in Q2 But Profit Rose
Aug 5 2009 // Marsh & McLennan Companies Inc. posted a second quarter net loss of $193 million, attributable to the declining value of its security consulting business and private equity investments. Last year for the same quarter...
Improved Profitability Forecast for Marsh, Guy Carpenter
Aug 5 2009 // Marsh & McLennan Cos. Inc. , the No. 2 global insurance broker, posted quarterly results in line with expectations on Wednesday and forecast improved profitability for its brokerage business, sending its shares up 4.3...
Swiss Re’s Q2 Net Loss Surprises Analysts But P/C Insurance Profitable
Aug 5 2009 // Swiss Re posted a surprise second-quarter net loss on Wednesday as charges on corporate bond hedges, securitized products and its own credit spreads ate up operating returns. Zurich-based Swiss Re said it made a net loss...
Bank Insurance Brokerage Fee Income Up 15% in Q1
Aug 4 2009 // First-quarter bank holding company (BHC) insurance brokerage income of $3.03 billion was up 15.0 percent from $2.63 billion in fourth quarter 2008, which marked the lowest point of quarterly insurance income since 2005,...
Investments Hurt Some U.S. Captives But Underwriting Income Up Overall
Aug 3 2009 // U.S. captive insurers’ net income declined approximately 66 percent in 2008 for a composite of 186 captive companies represented in an A.M. Best Co. special report. This reflects realized losses of $1.2 billion for...
Mercury General Reports Q2 Net Income of $114.4 Million
Aug 3 2009 // Los Angeles-based Mercury General Corp. has reported its results for the second quarter of 2009. Net income in the second quarter 2009 was $114.4 million compared with net income of $70.7 million for the same period in...
2008 Losses Lead to Record Insurance Payments to Midwest Farmers
Aug 3 2009 // The National Crop Insurance Services (NCIS) trade group says a record $8.6 billion in crop insurance indemnity payments has been distributed to U.S. farmers for crop losses in 2008, and a lot of that money went to farmers...
Top 20 Banks in Insurance Brokerage Fee Income
Aug 3 2009 // Top 20 Banks in Insurance Brokerage Fee Income (2008/Nationally) Rank 2008 Insurance Brokerage Fee Income Bank Name City, State Web site 1 $860.34 million Branch Banking and Trust Co. Winston Salem, N.C. www.bbt.com...
Top 20 Bank Holding Companies in Insurance Brokerage Fee Income
Aug 3 2009 // Top 20 Bank Holding Companies in Insurance Brokerage Fee Income (2008/Nationally) Rank 2008 Insurance Brokerage Fee Income Bank Holding Company Name City, State 1 $1.60 billion Wells Fargo & Co. San Francisco, Calif....
Pennyslvania’s Harleysville Sees Second Quarter Profits Climb
Jul 31 2009 // Pennsylvania-based Harleysville Group Inc. saw second quarter profits climb 115 percent to $20.1 million, up from $9.3 million in the year-ago quarter. At the same time, revenues at the insurer fell nearly 7 percent to...
The Hartford Posts Net Loss of $15M in Q2; P/C Combined Ratio at 90.4%
Jul 31 2009 // The Hartford reported a second quarter 2009 net loss of $15 million compared with second quarter 2008 net income of $543 million. Even so, Ramani Ayer, chairman and chief executive officer of The Hartford, said the insurer...
RenaissanceRe Posts $271 Million Q2 Net Income; $368 Million 6 Months
Jul 30 2009 // Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $271.2 million or $4.32 per diluted common share in the second quarter, compared to net income available to common...
HRH Acquisition Helps Boost Willis’ Revenues by 19% in Q2
Jul 30 2009 // Willis Group Holdings Limited (NYSE: WSH) reported the company’s total second quarter revenues were up by 19 percent, an increase due primarily to the HRH acquisition. Total reported revenues for the quarter ended...
Endurance Q2 Net Income Rises to $149 Million; 1H to $227 Million
Jul 30 2009 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $149.1 million and $2.42 per diluted common share for the second quarter of 2009, compared to $103.3 million and $1.54 per diluted common share in the...
Montpelier Re Reports $159 million Q2 Net Income; $211 Million 1H
Jul 30 2009 // Bermuda-based Montpelier Re Holdings Ltd. reported net income and comprehensive income of $159 million ($1.81 per share) and $163 million ($1.85 per share), respectively, for the quarter ended June 30, 2009, compared to...
Texas Enacts Windstorm Insurance Reforms; Will They Be Enough?
Jul 30 2009 // During the recently completed 81st Legislative Session, the Texas legislature adopted the most significant reforms to the Texas Windstorm Insurance Association (TWIA) since 1997 with the passage of House Bill 4409 (HB...
Travelers Earnings Fall 20% in Q2; Net Premiums Down Slightly
Jul 30 2009 // Travelers Cos. Inc. said on Thursday that second quarter earnings fell about 20 percent on lower investment income and underwriting profit. An increase in premium levels helped Travelers’ net policy sales keep pace...
XL’s Book Value Increased in Q2, Despite Profit Decline
Jul 29 2009 // Bermuda-based XL Capital Ltd. announced that its book value rose in the second quarter, lifting its stock as much as 3 percent, as unrealized losses on some assets narrowed. Net profit fell 66 percent on foreign exchange...
Arthur J. Gallagher Reports Q2 Results; Slight Drop in Organic Revenue
Jul 29 2009 // Arthur J. Gallagher & Co. reported a slight drop in organic revenue of just 0.3 percent for the second quarter 2009 for its combined insurance brokerage and risk management units. For the quarter ending June 30, 2009,...
