Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
S&P: Japan Non-Life Insurers ‘Show Improvement in Profits’
Nov 29 2007 // A report from Standard & Poor’s Ratings Services concludes that Japan’s top nine non-life insurers recorded ¥173 billion ($1.575 billion) in interim net profits for the first half of fiscal 2007 (ended...
Millea Group Ups Profit Forecast; Subprime Exposure $245 Million
Nov 20 2007 // Japan’s Millea Group – Tokio Marine, Nichido and Nissin Fire – increased its profit forecasts for the fiscal year ending March 2008 by Yen 7.7 billion ($70 million), despite some exposure to subprime...
Employers Holdings Reports Net Income of $29.9 Million in Q3
Nov 20 2007 // Reno, Nev.-based Employers Holdings Inc. reported results for the third quarter and nine months ended Sept. 30, 2007. Consolidated net income was $29.9 million, or $0.58 per share, for the third quarter of 2007, compared...
Catastrophic Events Raise Business Interruption Questions
Nov 18 2007 // Agents advised to discuss extended coverage provisions and contingent business interruption insurance Several recent and relatively recent events — the wildfires in southern California, Hurricane Katrina in August 2005...
Catastrophic Events Raise BI Coverage Questions
Nov 18 2007 // Several recent and relatively recent events — the wildfires in southern California, Hurricane Katrina in August 2005 and the Sept. 11, 2001, terrorist attacks — have raised awareness of how, and whether, business...
Looking for Profits at Marsh
Nov 18 2007 // MMC’s CEO Cherkasky searches for more insurance commissions The Marsh & McLennan Companies, or MMC, has seen its once dominant position atop the brokerage world assailed by changing conditions, Eliot Spitzer,...
Actuaries Have Special Role When Explaining Credit Scores and Losses
Nov 16 2007 // By explaining why there is an association between credit scores and insurance losses, insurers and actuaries can promote a better understanding of why credit scores are a useful underwriting tool, attendees of the Casualty...
SCOR’s Nine-Month Income Jumps 93% to $437 Million
Nov 16 2007 // France’s SCOR Group posted significant earnings gains for the first nine months of 2007, with net income up 93 percent to €299 million ($437 million) and gross written premiums up 62 percent to €3.381 billion...
AIR Estimates Chile Earthquake Insured Losses Not Over $80 Million
Nov 16 2007 // AIR Worldwide Corporation announced that it estimates insured losses from a major earthquake that struck the coast of Chile on Wednesday will likely not exceed $80 million. AIR noted that the “USGS has issued a...
Greenlight Reports $2.1 Million Q3 Loss
Nov 15 2007 // Cayman Islands-based Greenlight Capital Re, Ltd. reported a net loss of $2.1 million for the third quarter of 2007 compared to a profit of $17.5 million for the same period in 2006. On a fully diluted per share basis, the...
S&P Report on Bermuda’s Re/Insurers – Cautious, but Optimistic
Nov 14 2007 // Analysts from Standard & Poor’s Ratings Services have pit together an analytical report on Bermuda’s insurance and reinsurance industry, following what S&P sees as “another excellent...
Safeco Estimates Calif. Wildfire Losses at $35 Million
Nov 12 2007 // Seattle-based Safeco is estimating that claims stemming from the recent California wildfires will amountto $35 million in pretax catastrophe losses. That figure represents the estimated losses both from claims received...
Looking for Profits at Marsh
Nov 12 2007 // The Marsh & McLennan Companies, or MMC, has seen its once dominant position atop the brokerage world assailed by changing conditions, Eliot Spitzer, more competition and its own internal restructuring. Although MMC...
Citigroup Inc., Former CEO Sued Over Subprime Mortgage Losses
Nov 9 2007 // Citigroup Inc., former CEO Charles Prince and other executives were sued in federal court this week over losses related to the bank’s subprime mortgage-backed securities portfolio. The shareholder derivative lawsuit,...
Earnings Reports Summaries: Allianz, Allied World, CastlePoint, Hannover Re
Nov 9 2007 // The following companies, listed in alphabetical order, have recently reported third quarter and nine-month earnings results. To obtain the complete report, supplemental information, as well as the details of...
Marsh 3d Quarter Disappoints Cherkasky
Nov 8 2007 // In the third quarter for Marsh & McLennan Companies, Inc. (MMC), overall profits were up largely thanks to the sale of Putnam Investments and the consulting services performed well but the mood was dampened by...
AIG 3d Quarter Profit Down 27%; Vows Mortgage Exposure Under Control
Nov 8 2007 // Troubled residential mortgage and credit markets hurt American International Group Inc.’s third-quarter profit. Net income fell 27 percent compared to the third quarter last year. The giant insurer reported losses in...
Validus Q3 Net Surges to $136.5 Million
Nov 7 2007 // Bermuda-based Validus Holdings Limited reported net income for the quarter ended September 30, 2007 of $136.5 million, or $1.90 per diluted common share, compared with $69.7 million, or $1.19 per diluted common share, for...
Max Capital Group Q3 Net up 250% to $66.8 Million
Nov 7 2007 // The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended September 30, 2007, of $66.8 million, or $1.05 per diluted share, compared to net income of $26.5 million, or $0.42 per diluted share,...
Swiss Re Q3 Net Off 5% to $1.28 Billion in ‘Turbulent Quarter’
Nov 6 2007 // Swiss Re’s third quarter earnings report revealed a five percent drop in net income to CHF 1.469 billion ($1.28 billion) compared to CHF 1.55 billion ($1.35 billion) in the third quarter of 2006. The results actually...
