Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
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...
