Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
RMS Launches ‘Paradex’ Model for European Windstorms
Feb 15 2008 // Risk Management Solutions (RMS) announced the launch of “the first parametric index for assessing insured industry losses from windstorms in Europe.” The new model -” Paradex Europe Windstorm”...
Monte Carlo Hotel-Casino Fire Loss Estimated to be Near $100 Million
Feb 15 2008 // A fire that sent gamblers fleeing from the Monte Carlo hotel-casino on the Las Vegas Strip in January will cost close to $100 million in repairs and lost business, casino operator MGM Mirage Inc. said. The company has...
Max Capital Reports Drop in Q4 Net Income; FY up 29% to $303 Million
Feb 14 2008 // The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended December 31, 2007, of $62.4 million, or $1.00 per fully diluted share, versus net income of $95.4 million, or $1.50 per fully diluted...
Quarterly Profit Down 62% at Marsh
Feb 12 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...
AIG Downplays $5B Write-Down; Rating Agencies, Wall Street Concerned
Feb 12 2008 // While American International Group Inc. sought to downplay its miscalculation of losses on a derivatives portfolio as not “material to the company,” Wall Street was abuzz with speculation over whether the...
S&P Revises Outlook on AIG
Feb 12 2008 // American International Group Inc. may be quite sanguine about its financial outlook (See related article), but Standard & Poor’s Ratings Services isn’t quite as confident. S&P announced that it has...
Liberty Mutual’s Profit Dips Almost 7% in 2007
Feb 11 2008 // Liberty Mutual Group said its 2007 profit dipped nearly 7 percent compared with unusually strong 2006 results, as greater insurance industry competition led to pressure to cut policyholder rates. The nation’s...
