Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
The Facts About Credit Information and Insurance
Feb 21 2005 // The use of credit history, one of many underwriting tools, is not a new concept and one that has received strict scrutiny from insurance regulators and consumer advocates around the country. Some insurers have used...
U.S. P/C INSURERS CONTINUE TO BOOST LOSS RESERVES FOR OLD BUSINESS:
Feb 21 2005 // For U.S. property/casualty insurers, periodic glimpses of rising profitability have been overshadowed by relentless price-cutting, natural and man-made catastrophes, and claims inflation. Following an unprecedented surge...
INSURERS TO PAY $5.9M FOR LOST SOCAL AIRPORT REVENUE:
Feb 21 2005 // Officials with the city of Los Angeles announced that they reached a $5.9 million settlement with their insurers due to the Sept. 11, 2001 terrorist attacks, according to the Associated Press. The Federal Aviation...
The Facts About Credit Information and Insurance
Feb 21 2005 // The use of credit history, one of many underwriting tools, is not a new concept and one that has received strict scrutiny from insurance regulators and consumer advocates around the country. Some insurers have used...
S&P Report Says Hurricane Losses Puts Pressure on Insurers’ Equity
Feb 18 2005 // The shareholders’ equity of many insurers and reinsurers is coming under greater pressure than anticipated as P/C losses from the 2004 hurricane season continue to rise with new estimates, according to a report by...
Endurance Posts $113 Million Q4 Net Income; 37.6% Increase for Full Year to $356 Million
Feb 17 2005 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $113.1 million or $1.71 per diluted share for the fourth quarter of 2004 versus net income of $88.9 million or $1.31 per diluted share in the fourth...
Montpelier Re Reports $102.4 Million Q4 Net Income; $240.3 Million Full Year
Feb 17 2005 // Bermuda-based Montpelier Re Holdings Ltd. reported net income of $102.4 million, or $1.53 diluted earnings per share, for the three months ended December 31, 2004 and net income of $240.3 million, or $3.55 diluted earnings...
HCC Sees Increased Earnings for Q4, Full Year 2004
Feb 17 2005 // Houston-based HCC Insurance Holdings Inc. released results for the fourth quarter and full year ended Dec. 31, 2004, reporting increased earnings for both the quarter and the year. Net earnings for the fourth quarter 2004...
Madrid’s Towering Inferno a Total Loss
Feb 16 2005 // The biggest fire in Madrid’s long history ravaged the 32-story Windsor Building in the heart of the Spanish capital on Sunday night and on into Monday morning. News reports on European TV stations showed an immense...
Munich Re Confirms Profit Forecast with $2.34 Billion 2004 Net Earnings
Feb 16 2005 // Munich Re announced 2004 net earnings of 1.8 billion euros ($2.34 billion), confirming its earlier revised estimates of between $2.22 billion and $2.48 billion (See IJ Web site Jan.23). The move back to profitability...
Meadowbrook 2004 Year-End, 4Q Results Improve
Feb 15 2005 // Meadowbrook Insurance Group’s net income for the fourth quarter of 2004 and for the entire year of 2004 was up. Net income for the entire year of 2004 was up to $14.1 million from net income of $10.1 million for...
RTW Sees 12th Consecutive Profitable Quarter
Feb 15 2005 // Minnesota-based RTW Inc., a provider of products and services to cost-effectively manage both insured and self-insured workers’ compensation programs, reported net income for the fourth quarter ended Dec. 31, 2004 of...
Assurant Sees 2004 Net Income of $350.6 Million
Feb 15 2005 // Assurant Inc., a provider of specialized insurance and insurance-related products and services, reported its results for the fourth quarter and the year ended Dec. 31, 2004. J. Kerry Clayton, president and CEO, noted,...
CAAA: Workers’ Comp Carriers’ Profits up 25%-36%
Feb 15 2005 // Fourth quarter and 2004 annual earnings statements from leading California workers’ compensation insurance carriers are coming in, and profits are reportedly up by 25% to 36% over 2003 – and 2003 was already...
W.R. Berkley Reports Q4 Net Income of $116M
Feb 14 2005 // W. R. Berkley Corp. reported net income for the fourth quarter of 2004 of $116 million, or $1.31 per share, a 25% increase from $93 million, or $1.07 per share, a year ago. Fourth quarter 2004 net operating income...
Odyssey Re Holdings Corp. Unveils Q4 Report
Feb 11 2005 // Odyssey Re Holdings Corp. this week reported its fourth quarter and full year 2004 results. Net income amounted to $50.9 million, or $0.74 per common share for the quarter ended Dec. 31, 2004, compared to $47.6 million or...
Philadelphia Consolidated CEO Pleased with Q4 Report
Feb 11 2005 // Philadelphia Consolidated Holding Corp. on Friday reported net income for the quarter ended Dec. 31, 2004 increased 58.0% to $32.4 million ($1.38 diluted and $1.45 basic earnings per share) from $20.5 million ($0.89...
Kingsway Notes 54% Gain in Net Income
Feb 10 2005 // Toronto-based Kingsway Financial Services Inc. announced financial results for the quarter and year ended Dec. 31, 2004, and the declaration of an initial quarterly dividend of 5 cents per share. For the fourth quarter net...
Brown & Brown’s 2004 Results Set Record Levels
Feb 10 2005 // Brown & Brown, Inc. with offices in Daytona Beach and Tampa, Fla. announced record earnings for 2004, the 12th consecutive year the company has hit record highs in both revenues and net income. Net income for 2004...
ISO: Insurers Pay a Record $27.3B in 2004 Cat Losses
Feb 9 2005 // U.S. property/casualty insurers paid a record $27.3 billion for insured property losses to homeowners and businesses from 22 catastrophic events last year—surpassing losses from 2001 that included the Sept. 11...
