Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Net Income Dips at Safety Insurance for 3d Quarter
Nov 6 2007 // Safety Insurance Group, Inc. in Boston reported third quarter 2007 net income for the quarter ended Sept. 30, 2007 was $22.9 million, or $1.42 per diluted share, compared to $29.1 million, or $1.81 per diluted share, for...
Munich Re’s 9-Month Profit Jumps 17.5% to $4.84 Billion
Nov 5 2007 // Maybe money can’t buy happiness, but it can certainly improve the bottom line. Munich Re has just announced a €3.348 billion ($4.843 billion) profit for the first nine months of 2007, a 17.5 percent increase, which...
Max Capital Earnings Announcement Today; Conference Call Details
Nov 5 2007 // The Bermuda-based Max Capital Group Ltd. will hold an investment community conference call today, November 5, 2007, at 10 o’clock a.m. Eastern Time, to discuss the Company’s third-quarter 2007 financial results...
Five Tips in Dealing with Wildfire Losses
Nov 4 2007 // Here we go again: another disaster, another insurance test. Will Southern Californians whose homes and businesses were destroyed or damaged by wildfires fare better with their insurance providers than Katrina’s...
Homeowners insurers not earning cost of capital despite modest rate increases
Nov 4 2007 // The countrywide prospective return on equity for the homeowners line of insurance for 2007 is 7.0 percent, up from 5.4 percent in 2006, according to an analysis by Aon Re Global, a unit of Aon Corp. The year-over-year...
News Currents
Nov 4 2007 // Catastrophic wildfires sweep across Southern California Industry estimates insured losses at more than $1.5 billion and rising Insured losses are continuing to accumulate from Southern California wildfires that burned in...
States under cover
Nov 4 2007 // Natural catastrophes — and the affordability and availability of property insurance in disaster-prone areas — have been on center stage in coastal states from the Northeast to the Gulf Coast. This fall, the...
Aspen Reports Record Q3 Results; Conference Call Today, Details
Nov 2 2007 // Bermuda-based Aspen Insurance Holdings reported record results for the third quarter of 2007. The Company gave the following highlights: from the earnings report: — Record third quarter net income of $117.2 million...
Endurance Q3 Net $131.4 Million
Nov 2 2007 // Bermuda’s Endurance Specialty Holdings Ltd. reported net income of $131.4 million and $1.81 per diluted common share for the third quarter of 2007 versus net income of $128.2 million and $1.74 per diluted common...
Aon Cutting 2,700 Jobs in Overhaul Aimed at Saving $240M Annually
Nov 2 2007 // Insurance brokerage Aon Corp., faced by fierce competition and falling rates, said Wednesday it will cut 2,700 jobs as part of a restructuring plan that will eventually save it about $240 million a year. The elimination of...
International, Personal Lines Drive Liberty Mutual 3d Quarter
Nov 1 2007 // Liberty Mutual Group reported net operating income of $390 million for the three months ended September 30, 2007, an increase of $3 million over the same period in 2006. Results in the quarter include a 9.6% increase in...
Analyst: Safeco’s Earnings Per Share Likely to Be Lower
Oct 31 2007 // Goldman Sachs announced it is lowering its 2007 earnings per share estimate for Safeco by $0.55 to $6.20, primarily to reflect the third quarter EPS shortfall, as well as higher fourth quarter catastrophe losses expected...
