Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allianz German Group Total Earnings up 30% to $2.14 Billion
Mar 22 2006 // Allianz Sachgruppe Deutschland, which incorporates all of the global insurer’s German P/C business, announced that total earnings after tax for 2005 were €1.79 billion ($2.14 billion), compared to the €1.25...
S&P Lowers American Steamship Mutual Ratings to ‘B+’
Mar 22 2006 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on American Steamship Owners Mutual P&I Assn. Inc. (American Club) to “B+”...
Consumer Group Accuses Geico of Unfair Underwriting Practices
Mar 21 2006 // A U.S. consumer group has made claims that Geico Corp. uses rate-making methods that directly base eligibility and premiums solely upon the educational background and occupation of consumers. The Consumer Federation of...
Hub, Citizens Bank on ‘Not Your Typical’ Insurance Agency Deal
Mar 21 2006 // “Not Your Typical Bank,” the slogan used by Citizens Financial Group in its popular consumer-friendly ads, seems to apply to the bank’s latest move, the selling off of its respected insurance agencies. It...
For O & G operators, contracts and coverages go hand in hand
Mar 20 2006 // (Editor’s note: This is the third article in a series addressing risk management for the Oil and Gas operator. The first appeared in the Aug. 22, 2005, issue of Insurance Journal-Texas/South Central, the second ran...
RMS CEO sees bigger catastrophe losses
Mar 19 2006 // Speaking at the World Insurance Forum in Bermuda, Hemant Shah, Risk Management Solutions CEO, warned that insurers should be preparing to increase their reserves for catastrophe losses, not only due to the unprecedented...
News Currents
Mar 19 2006 // Berkshire’s Buffett still high on insurance despite catastrophe risk Gen Re misfortunes overcome by Geico’s stellar performance, Buffett says Warren E. Buffett, the billionaire chairman of giant Berkshire...
Allianz Nearly Triples 4Q Profit
Mar 17 2006 // Insurer Allianz Group said Thursday its fourth-quarter profit nearly tripled as earnings in its banking and asset-management units and improved investment income protected it from losses related to last year’s...
North Pointe Holdings Corp. Reports Fourth Quarter Results
Mar 17 2006 // Southfield, Mich.-based North Pointe Holdings Corporation reported financial results for the fourth quarter ending December 31, 2005. Fourth quarter results include pre-tax expenses attributable to hurricane losses and...
Most Losses in Texas Panhandle Fires Are Uninsured
Mar 16 2006 // Wildfires in the Texas panhandle have blackened hundreds of thousands of acres and leveled ranch houses and barns in its path. Unfortunately, most of the destruction including ranch land and cattle has been uninsured,...
AIG Issues 2005 Annual Report; Net Income for Year was $10.48B
Mar 16 2006 // American International Group Inc. (AIG) has filed its Annual Report on Form 10-K for the year ended Dec. 31, 2005 with the Securities and Exchange Commission. Net income for the full year 2005 was $10.48 billion or $3.99...
Ebix Inc. Sees 20.6% Revenue Gain
Mar 15 2006 // Atlanta-based Ebix Inc., which provides software and IT services to the insurance industry, said in a report on its financial results for the fourth quarter and year ended Dec. 31, that its revenue rose 20.6 percent in...
American Physicians Service Group Sees Increased Q4, Annual Results
Mar 15 2006 // Austin, Texas-based American Physicians Service Group Inc. announced revenue increases for the fourth quarter and year-end 2005. APS is a management and financial services firm with subsidiaries and affiliates, which...
Munich Re’s 4Q Profit Quadruples Despite Gulf
Mar 15 2006 // Munich Re AG, the world’s largest reinsurer by gross premiums, said Tuesday its fourth-quarter profit quadrupled and its annual earnings rose despite the furious series of hurricanes that struck the Gulf of Mexico...
Hiscox Weathers Hurricanes, But 2005 Profits Decrease
Mar 14 2006 // Hiscox Plc, the U.K.-based Lloyd’s and specialty insurer, released its 2005 preliminary results on Monday, March 13. Although Hiscox was one of many companies whose earnings were adversely affected by last...
Safety Insurance Net Income Soared in 2005; Loss Ratio Improves 10 Points
Mar 12 2006 // Safety Insurance Group, Inc. in Massachusetts reported net income for 2005 was $95.2 million, or $5.97 per diluted share, compared to $45.0 million, or $2.90 per diluted share, for 2004. Safety’s book value per share...
Southwest Risk Launches Apartment Guard Loss Control Program
Mar 10 2006 // Southwest Risk, LP, a wholesale broker in Dallas, Texas, announced the launch of Apartment Guard, a proprietary loss control program for apartments. Apartment Guard is designed to educate apartment property owners,...
R&SA 2005 Operating Profits Soar 171% to $1.215 Billion
Mar 10 2006 // The restructuring efforts at the U.K.’s Royal & SunAlliance paid off handsomely in 2005. The Group reported a 171 percent increase in operating profits to £698 million ($1.215 billion), compared to £258...
IBHS Annual Conference to Focus on Property Loss Reduction
Mar 10 2006 // “Making the Right Connections” is the theme for the Institute for Business & Home Safety’s (IBHS) 2006 Annual Conference on Property Loss Reduction. The event is scheduled for Nov. 16-17 at the...
JLT 2005 Profits Down 20%
Mar 8 2006 // Jardine Lloyd Thompson Group plc. has reported a 20 percent drop in pretax profits in its preliminary earnings report. The U.K.’s largest insurance broker said that profit “before tax, exceptional items and...
