Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Should D&O insurers have a loss prevention role?
Feb 25 2007 // Why don’t directors and officers insurers insist on corporate governance reform from their insureds as a precondition of coverage, the way property and workers’ compensation insurers condition their coverage on...
A look behind the very good property/casualty results for 2006
Feb 25 2007 // News Currents The numbers, or estimates, for the property/ casualty insurance industry for 2006 are in. Dr. Robert Hartwig, president and chief economist of the Insurance Information Institute, sat down with Insurance...
Hospitality industry faces more than just traditional P/C losses
Feb 25 2007 // Whether you study the growth curve in the “baby boomer” generation or generation “X” or “Y,” it is clear that we have a collision course of increased scope of risk, changing...
French Insurance Giant AXA’s 2006 Profit Rises 18%
Feb 23 2007 // French insurance giant AXA SA said Thursday that improving sales in its life insurance and asset management businesses helped lift 2006 profit 18 percent. Beating analysts’ predictions, AXA’s net income rose to...
Fairfax Q4 Net $159 Million; $227 Million Full Year
Feb 23 2007 // Toronto-based Fairfax Financial Holdings recorded net earnings in US dollars of $159.1 million for the fourth quarter of 2006 and $227.5 million for the 2006 year ($8.45 and $11.92 per diluted share, respectively). The...
Agents Could Benefit from Incentive Pay Plans Replacing Contingent Income
Feb 22 2007 // Incentive pay plans for agents that some insurers are implementing to replace discontinued contingency compensation could work out better for agents than the programs they are replacing. A handful of major carriers banned...
Allianz Preliminary Earnings Report-Net Income up 60% to $9.2 Billion
Feb 22 2007 // Germany’s Allianz released strong growth figures in its preliminary earnings report with net income for the year up by 60 percent from just under €4.4 billion ($5.77 billion) in 2005 to more than €7 billion ($9.2...
A.M. Best: Reforms Create a Profitable Calif. Workers’ Comp Market
Feb 20 2007 // The workers’ compensation environment in California has experienced a metamorphosis over the past few years, changing a historically unprofitable line of business into an appealing and profitable line that has seen...
Platinum Posts $86 Million Q4 Net; $330 Million Full Year
Feb 20 2007 // Bermuda’s Platinum Underwriters Holdings, Ltd. reported net income of $86.0 million, or $1.28 per diluted common share, for the quarter ended December 31, 2006 and net income of $329.7 million, or $4.96 per diluted...
ING Net up 14%
Feb 16 2007 // ING Groep NV, the Dutch bank and insurance company, posted a 14 percent rise in net profit Thursday, mostly due to strength in its insurance arm and lower tax rates. Net profit was a company record €2.10 billion ($2.73...
Peerless Combats Construction Equipment Losses with LoJack
Feb 15 2007 // Peerless Insurance, a member of Liberty Mutual Group, has teamed with LoJack Corp., to reduce construction equipment theft and boost recovery. The insurer is making the LoJack for Construction Equipment police-operated...
Arch Capital Reports $239 Million Q4 Net; $692.6 Million Full Year
Feb 14 2007 // The Bermuda-based Arch Capital Group Ltd. has reported net income available to common shareholders for the 2006 fourth quarter of $239.3 million, or $3.12 per share, compared to $100.9 million, or $1.34 per share, for the...
Allied World Posts $128.4 Million Q4 Net; $442.8 Million Full Year
Feb 14 2007 // Bermuda’s Allied World Assurance Company Holdings, Ltd. reported net income of $128.4 million, or $2.04 per diluted share, for the fourth quarter 2006 compared to a net loss of $12.3 million, or $0.24 per diluted...
Car Airbags Can Cause Permanent Hearing Loss, Study Says
Feb 14 2007 // A researcher at a national hearing conference will present data that predicts 17 percent of people exposed to deployed airbags in American cars will suffer from permanent hearing loss. His data also shows, contrary to what...
Brown & Brown Sees Record Earnings in ’06; Nears $1 Billion Revenues
Feb 13 2007 // Large Florida-based insurance broker Brown & Brown, Inc. announced record earnings for 2006, with net income rising to $172,350,000, or $1.22 per share, an increase of 14.5 percent over the $150,551,000, or $1.08 per...
Marsh & McLennan 4Q Profit Soared
Feb 13 2007 // Global services firm Marsh & McLennan Companies, Inc. (MMC), parent company of giant insurance broker Marsh, reported that its fourth quarter 2006 consolidated net income was $226 million, an increase of more than 500...
Commercial clients ‘swallow a bitter pill’ when it comes to cat coverage
Feb 12 2007 // When it comes to property catastrophe insurance coverage, many commercial clients are being forced to swallow a bitter pill in the form of steep prices, new limits on policies, higher deductibles and a shortage in the...
Lessons learned from 2005’s Katrina and 2006’s calm hurricane season
Feb 12 2007 // It’s been more than a year since Katrina made landfall and businesses are still recovering. Then the 2006 Atlantic hurricane season came and went with barely a blip — despite initial projections by some that...
Mitigating the everyday catastrophe
Feb 12 2007 // Fire, water, hail and wind reel in big losses for business, but many could be prevented The exposures faced by businesses in catastrophe-prone areas have been well-documented post-Katrina and facility owners and managers...
Industry forecast predicts slower premium growth in 2007 and 2008
Feb 12 2007 // Despite slow-down, industry still anticipates underwriting profits Most insurance industry analysts predict slower P/C premium growth for 2007, according to an Insurance Information Institute’s annual survey of Wall...
