Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Hanover Insurance Profit Soars 61% in 3d Quarter
Oct 30 2007 // With fewer catastrophe claims to pay, Hanover Insurance Group Inc.’s profit jumped 61 percent in the third quarter, the company reported this week. Net income for the third quarter of $53.9 million, or $1.03 per...
Analyst: Wildfire Losses Estimated To Be At Least $1.5 Billion
Oct 29 2007 // Using the latest information on current and forecast fire perimeters and observed wind speeds, catastrophe risk modeling company AIR Worldwide Corp. estimates insured losses from California wildfires will be at least 1.5...
Earnings Recap: ACE, Arch, Everest Re, Montpelier Re, PartnerRe, Transatlantic Re, Willis
Oct 26 2007 // A number of international companies have recently published their earnings results for the third quarter of 2007 and the first nine months of the year. Highlights of these reports – in alphabetical order – are...
Chubb Reports 3d Quarter Net Income Up 22%
Oct 26 2007 // The Chubb Corp. reported that net income in the third quarter of 2007 was $738 million or $1.87 per share, compared to $604 million or $1.43 per share in the third quarter of 2006. Operating income, which the company...
Fitch: Calif. Wildfires May Be Largest U.S. Wildfire Insured Loss Ever
Oct 25 2007 // Insured losses from wildfires continuing to spread in Southern California could likely become the costliest catastrophe insured loss event in 2007 and may potentially become the costliest wildfire catastrophe insured loss...
Homeowners Insurers Not Earning Cost of Capital Despite Rate Increases
Oct 24 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...
Brown & Brown Posts 14.8% Third-Quarter Increase
Oct 23 2007 // Brown & Brown Inc. announced its net income for the third quarter of 2007 of $46,216,000, or $0.33 per share, an increase of 14.8 percent from the $40,270,000, or $0.29 per share, reported for the quarter ended Sept....
Lexington Waives Deductible for NER Registered Losses
Oct 23 2007 // The National Equipment Register teamed up with Lexington Insurance Company, a member company of American International Group Inc. (AIG) to help their clients recover stolen equipment and reduce the costs associated with...
Insurance Industry Assessing Calif. Wildfires, Sends in Assistance
Oct 23 2007 // Insurance industry professionals are rallying the troops, bringing in claims professionals and others to assist in battling several major wildfires burning across Southern California. On Sunday, Gov. Arnold Schwarzenegger...
Analyst: Calif. Fires Should Not Result in Large Insurer Losses
Oct 23 2007 // The 11 wildfires burning in Southern California should not result in large individual insurance company losses, according to a recent report by Goldman Sachs Analyst Thomas Cholnoky. Instead, he predicts nontraditional...
Insurers Say Calif. Wildfire Claims May Reach $500 Million
Oct 23 2007 // Exclusive Video California Wildfires: Insurance Industry Assesses Impact California Wildfires: Insurers On Site at Evacuation Centers The insurance industry is estimating that the damage from the wildfires in southern...
PartnerRe Releases Q3 Results
Oct 22 2007 // Bermuda-based PartnerRe will release its 2007 third quarter and nine month results after the market close today, October 22, 2007. The Company’s senior management will conduct a dial-in conference call, which will...
Council says Hurricane Humberto Caused $30M in Losses in Texas
Oct 22 2007 // Officials with the Insurance Council of Texas say Hurricane Humberto, which hit the state last month, caused about $30 million in insured losses in Texas. Humberto made landfall on Sept. 13 near High Island, a coastal town...
Everest Re to Release Q3 Earnings Today; Conference Call Details
Oct 21 2007 // Bermuda’s Everest Re Group will release its third quarter 2007 earnings after the close of trading on the NYSE today, October 22, 2007. A conference call discussing the results will be held at 8:30 a.m. Eastern Time...
Fireman’s Fund Adds Green Amendments to Builders Risk Policy
Oct 18 2007 // Fireman’s Fund Insurance Co. announced the introduction of new green amendments to its builders risk insurance policy. New green buildings undergoing construction and existing buildings undergoing green renovations...
Bottom Line: Allstate’s Aggressive Personal Lines Strategy Paying Off
Oct 17 2007 // When a series of killer hurricanes walloped the Gulf Coast in 2005, costing Allstate Corp. a record quarterly loss of $1.55 billion, the company tried to make sure its bottom line would never be hit so hard again. The...
Calif. DOI Partners with CAL FIRE To Prevent Fire Losses
Oct 16 2007 // California Insurance Commissioner Steve Poizner joined CAL FIRE Director Ruben Grijalva yesterday in signing a memorandum of understanding (MOU) to help prevent and mitigate fire losses in the Golden State. The state faces...
Total Bank Insurance Revenue Up in First Half of 2007
Oct 16 2007 // The nation’s bank holding companies increased their total insurance revenue 1.0 percent to $21.7 billion in the first half of 2007 from $21.4 billion during the same period in 2006. CitiGroup (NY), Wells Fargo &...
AIR Raises Typhoon Krosa Loss Estimates – $200 to $600 Million
Oct 12 2007 // AIR Worldwide’s preliminary estimates of insured losses caused by Typhoon Krosa originally assessed the damage in Taiwan (See IJ web site Oct. 11). However, the storm subsequently crossed the South China Sea, and has...
Mercury General to Share Q3 Results on Nov. 5
Oct 10 2007 // Los Angeles-based Mercury General Corp. will announce its results for the third quarter on Nov. 5, 2007, and will host an investor conference call and Webcast that same day at 10 a.m. Pacific Time. Interested parties can...
