Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Lexington Insurance Co. Sues to Recoup Losses in Iowa Mansion Fire
Feb 27 2008 // An insurance company that insured a $3 million Bettendorf house destroyed in a fire is suing several businesses to recover its losses. Lexington Insurance Co. blames the fire on the contractors who built the home, the...
AIG Expected to Post Rare 4Q Loss on Write-Down
Feb 27 2008 // American International Group , the world’s largest insurer, is expected to report a quarterly loss Thursday, with crippled mortgage investments taking a $5 billion bite out of its derivatives...
QBE Net Profits up 30% to US$1.786 Billion
Feb 26 2008 // Australia’s QBE Insurance Group announced that operating profit after tax for the year ended 31 December 2007 was up 30 percent to a record A$1.925 billion ($US1.786 billion). Other key highlights for the year were...
CNinsure Reports Q4, FY Financial Results
Feb 26 2008 // China’s CNinsure Inc. has announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2007. The bulletin noted that the earnings announcement “contains translations of...
Coastal Growth, Not Global Warming, Blamed for Rising Storm Losses
Feb 25 2008 // A hurricane that hit Miami in 1926 would cause up to $157 billion in damage if it were to strike today, according to a recent study. U.S. storm costs are rising because of higher populations and wealth on the coasts, not a...
Montpelier Re Q4 Net Drops; FY Net up Slightly; Book Value Increased
Feb 25 2008 // Bermuda-based Montpelier Re Holdings Ltd. led off its earnings report with the good news. The Company reported a fully converted book value per share of $17.88 as at December 31, 2007, an increase of 5.4 percent and 17.6...
Munich Re 2007 Profit Rises 11.9% to $5.835 Billion
Feb 25 2008 // The Munich Re Group announced consolidated profits for 2007 of €3.937 billion ($5.836 billion), surpassing its increased profit guidance of €3.5 to €3.8 billion ($5.18 to $5.63 billion) announced in August. The...
Hedging Against Losses
Feb 24 2008 // How to navigate risk and find coverage solutions for hedge funds and their managers Hedge funds manage financial risk every day. Managers constantly seek out new strategies and investments, and then weigh the potential...
Growing Market Share and Revenue Through Financial Services
Feb 24 2008 // For years, property casualty (P/C) agencies have been making the jump into offering personal insurance — life, long-term care and disability — as an adjunct to their traditional products. Brokers have realized that the...
AIG’s $5 Billion Write-Down Has Rating Agencies, Wall Street Concerned
Feb 24 2008 // Some observers speculate the fallout could lead to additional woes for AIG including possibly CEO Sullivan’s exit While American International Group Inc. sought to downplay its miscalculation of losses on a...
Things to Consider When Estimating Subprime D&O Losses
Feb 24 2008 // There are likely to be more securities class action lawsuits in 2008 than any year since the passage of the Private Securities Litigation Reform Act in 1995. In addition, the subprime-related litigation wave is likely to...
Quarterly Profit Down 62% at Marsh; 2007 Revenues Up 8%
Feb 24 2008 // Quarterly profits at Marsh & McLennan dropped 62 percent, as fourth quarter and annual revenues rose 8 percent. The giant insurance brokerage reported that fourth quarter net income dropped to $85 million, or 16 cents...
Allianz Releases 2007 Earnings Figures
Feb 21 2008 // Germany’s Allianz SE has released its official earnings report for 2007, which shows some declines from the preliminary earnings announcement it released last month (See IJ web site –...
Platinum Reports Q4, FY Net Income Gains
Feb 21 2008 // Platinum Underwriters Holdings, Ltd. refused to follow the current earnings report script – declines in the fourth quarter, increases for the full year. The Bermuda-based reinsurer reported fourth quarter net after...
For Anglo-Dutch Reed, Insurance is ‘Jewel’ in Acquisition of ChoicePoint
Feb 21 2008 // Reed Elsevier announced the acquisition of U.S. risk-management business ChoicePoint Inc for $4.1 billion, including debt, and said it would intensify a cost-saving drive and sell an advertising-dependent information...
Kingsway Reports Q4, FY Loss
Feb 20 2008 // In its earnings report (in U.S. dollars) released last week Toronto-based Kingsway Financial Services Inc. reported a fourth quarter loss of $103.5 million, and an $18.5 million loss for the full year. The Company said the...
Flagstone Re Q4 Net Income Drops; FY Net Earnings Near $168 Million
Feb 20 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited posted a rise in basic book value per share to $14.17, despite a drop in fourth quarter earnings to $51.4 million, or $0.60 per diluted share, compared to $63.6 million,...
Willis ‘CyPro’ to Cover Business Interruption, Costs from Data Loss
Feb 20 2008 // Willis Group Holdings has launched a new facility to cover business interruption and recovery costs stemming from malicious and accidental loss of data. Willis described its CyPro, as a “new suite of products,”...
6 Fla. Workers’ Comp Cos. Ordered to Refund ‘Excess’ Profits
Feb 20 2008 // Florida Insurance Commissioner Kevin McCarty has ordered six workers’ compensation insurance companies to return $4.2 million in what his agency says are excessive profits to their policyholders. By law,...
Farm Losses from Tennessee Tornadoes Top $29 Million
Feb 18 2008 // Agriculture officials say storm-related farm losses in Tennessee’s Macon County could surpass $29 million. The county’s livestock and tobacco industries were particularly hard-hit by the tornado that claimed at...
