Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
State Farm: $6.3B P/C Underwriting Loss, $2.1B Operating Loss in 2008
Feb 27 2009 // The net worth for the State Farm group decreased in 2008 by $10.4 billion to end the year at $53.3 billion, the company reported. The primary reason for the decrease was the $9.2 billion decline in the value of the...
Employers Holdings Reports Net Income Dropped 15.4% in 2008
Feb 26 2009 // Reno, Nev.-based Employers Holdings Inc. reported net income for the fourth quarter of 2008 of $15.9 million compared with $31.8 million in the fourth quarter of 2007. Net income includes amortization of the deferred...
Amerisafe’s Q4 Profit Sinks 69%
Feb 25 2009 // Louisiana-based Amerisafe Inc., a writer of high hazard workers’ compensation insurance, said its fourth-quarter profit fell 69 percent due to $13.4 million in realized capital losses. Net income for the quarter...
SeaBright Revenue Up 5.2% in Q4; Up 5% for Year-End 2008
Feb 25 2009 // SeaBright Insurance Holdings Inc., based in Seattle, Wash., reported net income for the fourth quarter 2008 increased 2.3 percent year-over-year, to $10.2 million compared to net income of $10.0 million for the same period...
Chubb Offers Coverage to Upgrade Green After Home Loss
Feb 24 2009 // If a home is damaged or destroyed, homeowners may want to rebuild with green materials and processes, but the additional cost can be prohibitive. Now, homeowners can obtain insurance through the Chubb Group of Insurance...
Kingsway Financial Loss Worse Than Forecast
Feb 23 2009 // Toronto-based Kingsway Financial Services Inc. said Friday its quarterly loss came in even deeper than it had estimated a week ago, leading the company to chop its dividend and sending its shares 15 percent lower. The loss...
American National Reports Losses
Feb 23 2009 // Galveston, Texas-based American National Insurance Company announced a fourth quarter 2008 net loss of $34,564,000, compared to net income of $53,332,000 for the same period in 2007. Other-than-temporary impairments of...
Guyana Insurer Blames Stanford Group for Losses
Feb 23 2009 // A leading insurance company in Guyana says it has lost nearly $1.5 million in pension funds after investing with Texas financier R. Allen Stanford. Spokesman Hewley Nelson says the “Hand in Hand” company began...
AIG Reportedly Facing $60 Billion Loss; In Talks For More Government Aid
Feb 23 2009 // American International Group Inc., rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be...
Kentucky Ice Storm Death Toll at 35; Early Losses at $130 Million
Feb 22 2009 // Kentucky officials say the Jan. 27 storm that blanketed the region with ice and snow took 35 lives. About 769,000 customers lost power at its peak, and almost 50,000 were still without power two weeks later. More than 100...
Implications of the 2008 Farm Bill
Feb 22 2009 // Could Reduce Agent Commissions, But Create New Insurance Categories The Food, Conservation and Energy Act of 2008 (the Farm Bill) authorizes farm programs for the next five years. The Act’s provisions encompass a...
Valuing the Deal: It’s What You Keep That Matters
Feb 22 2009 // We talk with clients all the time about the mergers and acquisitions (M&A) marketplace, advising owners on positioning their businesses for the best exit whether they are three months or three years away from...
New Mexico Bill Lets Courts Combine Fraud Losses
Feb 20 2009 // The New Mexico Senate passed a bill that would increase insurance fraud penalties by empowering courts to combine the insurance money stolen by multiple schemes into one larger dollar amount that triggers longer sentences...
France’s Winter Storm Klaus Property Losses Pegged at $1 Billion Euros
Feb 20 2009 // Catastrophe risk modeling firm AIR Worldwide has updated its insured loss estimates of property losses in France from winter storm Klaus to between 500 million and 1 billion Euros. These losses represent damage to...
Harleysville Premiums Up 5% in Q4; Combined Ratio 98.5%
Feb 20 2009 // Pennsylvania-based Harleysville Group Inc. (NASDAQ:HGIC) reported fourth quarter net written premiums increased 5 percent to $214.5 million in 2008, compared to $203.6 million in the same period in 2007. Net written...
BNP Paribas Has Q4 Loss; Braced for Tough Year
Feb 19 2009 // BNP Paribas, the French bank embroiled in plans to carve up struggling rival Fortis, posted an expected fourth-quarter loss and said market conditions would remain tough in 2009. France’s biggest bank by market...
Kentucky Ice Storm Death Toll at 35; Early Losses at $130 Million
Feb 13 2009 // Kentucky officials say the Jan. 27 storm that blanketed the region with ice and snow has taken 35 lives. About 769,000 customers lost power at its peak, and almost 50,000 are still without power. The state has received a...
Nevada Workers’ Comp Loss Costs, Risk Rates to Decrease
Feb 13 2009 // Nevada Insurance Commissioner Scott Kipper has approved revised workers’ compensation voluntary loss costs and assigned risk rates filed by the National Council on Compensation Insurance (NCCI). The revised loss...
Arthur J. Gallagher Q4 Net Income Drops 80%
Feb 13 2009 // Arthur J. Gallagher reported net income for the fourth quarter dropped 80 percent. The Itasca, Illinois-based company’s fourth quarter net income declined to $4.7 million or $0.05 per share from $23.4 million or...
RenRe Q4 Loss $44.6 Million; FY Income Drops 95% to $29 Million
Feb 13 2009 // Bermuda-based Renaissance Re Holdings reported a $44.617 million net loss for the fourth quarter of 2008. Net income for the full year was $29.02 million, compared to $612.436 million in 2007, a 95 percent decline....
