Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Ark. to Extend Insurance Program to Low-Income Workers
Mar 8 2006 // The Bush administration has approved an Arkansas program to offer insurance to thousand of low-income workers, a spokesman for Gov. Mike Huckabee said. Huckabee was scheduled to announce the plan, expected to affect 80,000...
Generali Posts 15% 2005 Profit Rise to $2.3 Billion; Unveils Growth Plan
Mar 7 2006 // The Generali Group announced impressive preliminary results for 2005 and an ambitious growth plan at a general meeting yesterday, March 6, in Milan. 2005 profits rose 15 percent to €1.918 billion ($2.3 billion). The...
Reinsurance Ruling Reduces Cigna Net Income by $14 Million
Mar 7 2006 // Cigna Corporation in Philadelpha today reported that it has received an adverse ruling from a London arbitration panel concerning a dispute over a retrocessional reinsurance arrangement related to a portion of its runoff...
TWIA to present Texas Legislature with a two-fold agenda
Mar 6 2006 // Unlike insurers of last resort in states like Louisiana and Florida, the Texas Windstorm Insurance Association does not enjoy federal tax-exempt status. TWIA’s Board of Directors and its Executive Director Jim Oliver...
SCOR Premium Income up 25%
Mar 6 2006 // France’s SCOR Group noted a 25 percent rise in worldwide premium income follwing the January renewal season. Non- life and credit & surety treaties totaled €1.041 billion ($1.256 billion). The reinsurer said...
Bancinsurance Corp. Lists Record Earnings for 2005
Mar 3 2006 // Ohio-based Bancinsurance Corporation, a specialty property and casualty insurance holding company, released its financial results for the three and twelve months ended December 31, 2005. Highlights for the 2005 fiscal year...
R&M Releases Historical Loss Study
Mar 3 2006 // Dublin-based Research and Markets has announced the addition of “Historical Loss Development Study – 2005” to their offering. The bulletin notes that the study “has been produced since 1969 to...
Allied World Posts $23.9 Million Q4 Net Loss; $159.8 Million Full Year
Mar 3 2006 // Bermuda-based Allied World Assurance Holdings, Ltd. has reported a net loss of $23.9 million for the fourth quarter 2005, compared to net income of $103 million for the fourth quarter 2004. The net loss for the twelve...
Quanta Reports Increased Q4 Loss; Best Lowers Ratings
Mar 3 2006 // Quanta Capital Holdings Ltd. has reported preliminary financial results for the fourth quarter and full-year ended Dec. 31, 2005, “subject,” the company said, “to completion of review by its...
2005: A Rough Year for Swiss Re; Net Income Down 41% to $1.1 Billion
Mar 2 2006 // Big reinsurance companies also take big hits when natural catastrophes occur. So its not too surprising that Swiss Re’s 2005 earnings report reflects the overall losses from an exceptionally violent year. Net profits...
AXA Records Strong 2005; Net Profit up 12% to $4.98 Billion
Mar 1 2006 // France’s AXA Group announced big earnings increases for the year 2005 with net profits up 12 percent to €4.173 billion ($4.98 billion). “Last year, AXA showed strong growth momentum, particularly in Life...
Liberty Mutual Group Chairman Pleased with 2005 Numbers
Mar 1 2006 // Liberty Mutual Group reported net income of $253 million and $1.027 billion for the three and 12 months ended Dec. 31, 2005, respectively, representing decreases of $312 million and $218 million from the same periods in...
Swiss Re <em>sigma</em> Report Notes $83B Insured 2005 Cat Losses
Feb 28 2006 // Swiss Re’s latest sigma report examines the natural catastrophes and man-made disasters of 2005. Among other findings it notes that “more than 97 000 people lost their lives” as a result of one of the...
Converium Releases Earnings Restatement; Q3, 9 Month Results
Feb 28 2006 // Zurich-based Converium announced the completion of an extensive review and a restatement of prior year financial statements ahead of its 2005 earnings release scheduled for March 15. It also released final figures for the...
Platinum Posts Losses – $103.3 Million Q4; $138.2 Million Full Year
Feb 28 2006 // Bermuda-based Platinum Underwriters Holdings, Ltd. has reported a net loss to common shareholders of $103.3 million, or $1.94 per basic common share, for the quarter ended December 31, 2005 and a net loss of $138.2...
Coface Revenues Top $1.443 Billion
Feb 27 2006 // The French international business-to-business trade facilitator and insurer, Compagnie Francaise d’Assurance pour le Commerce Exterieur SA (Coface), announced that it’s consolidated revenues for 2005 increased...
Hurricanes Drive 39% Decline in Net Income for Giant State Farm
Feb 26 2006 // Hurricane losses and loss adjustment expenses totaling $6.3 billion (after reinsurance) contributed to a reduction in State Farm’s 2005 net income. The company is reporting an after-tax net income from all sources of...
PXRE Posts $446.5 Million Q4 Loss
Feb 23 2006 // The Bermuda-based PXRE Group Ltd. reported a net loss before convertible preferred share dividends of $446.5 million for the quarter ended December 31, 2005 compared to net income before convertible preferred share...
IAG Reports $340.7 Million 6 Month Profit; To Return $147.8 Million; S&P Sees No Rating Change
Feb 23 2006 // Insurance Australia Group Ltd. (IAG), the country’s biggest auto and home insurer, posted a six-month profit for the period ended Dec. 31, 2005 of A$461 million (US$340.7 million). However, overall policy sales...
QBE Reports 2005 Profits Up 27% to $806 Million
Feb 23 2006 // The directors of Australia’s QBE Insurance Group Limited announced that net profit after tax for the 2005 financial year increased by 27 percent to A$1.091 billion (US$806 million). Profit before tax was up 37...
