Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Midland Sees Q3 Profit Despite Hurricanes
Oct 12 2004 // Cincinnati-based specialty insurer the Midland Co. projected a third-quarter profit, despite volatile weather conditions during the quarter. “We are anticipating earnings per share for the third quarter to be between...
Affirmative Notes Negligible Losses from Hurricanes
Oct 12 2004 // Texas-based Affirmative Insurance Holdings Inc., a provider of personal non-standard automobile insurance, has reported it has experienced negligible losses from the four hurricanes that impacted the southeastern United...
Disaster Recovery Planning Heads Report Partnership to Help Businesses Prevent Loss
Oct 12 2004 // The Institute for Business & Home Safety (IBHS) and the Global Partnership for Preparedness (GPP) have announced a partnership to pilot test a new disaster planning toolkit at the launch of the Global Partnership for...
ACE Limited Comments on Impact of 3Q CAT Losses
Oct 12 2004 // ACE Limited announced that it estimates total net catastrophe-related charges during the third quarter across the entire ACE Group of Companies will be approximately $480 million pre-tax. This total includes the previously...
Safeco Estimates 3Q Catastrophe Losses
Oct 12 2004 // Seattle-based Safeco announced that its aggregate pretax catastrophe losses for the third quarter are estimated at $195 million. The estimated effect on third-quarter net income is $127 million after tax, or $0.96 per...
SAFECO ESTIMATES LOSSES FROM HURRICANE FRANCES:
Oct 11 2004 // Seattle-based Safeco announced that its pretax catastrophe losses stemming from Hurricane Frances are estimated at $28 million. This figure represents the estimated losses both from claims received through Sept. 20, 2004...
$13 TO $15 B HURRICANE DAMAGE LOSSES ESTIMATED:
Oct 11 2004 // The triple-whammy hits of hurricanes Ivan, Frances and Charley combined probably produced about $13 billion to $15 billion in losses, according to catastrophe modeler Risk Management Solutions of Newark, Calif. The losses...
Storm Losses Lead Florida Regulators to Take Over American Superior
Oct 11 2004 // State regulators have placed American Superior Insurance Co. into receivership because it was overwhelmed by homeowners claims. The small company, with offices in Plantation, Fla., has about 60,000 policyholders. The state...
Amlin Estimates Net Losses from Hurricanes and Typhoons at $133 Million
Oct 10 2004 // Amlin, a leading Lloyd’s insurer, has released its estimates for losses relating to Hurricanes Charley, Frances, Ivan and Jeanne, together with Typhoon Songda, indicating that gross claims are around $263 million...
EMC Reports Q3 Estimated Losses from Jeanne
Oct 8 2004 // Iowa-based EMC Insurance Group Inc. has reported that the company’s reinsurance segment anticipates that losses associated with Hurricane Jeanne, which hit the State of Florida on Sept. 25, will be capped at $1.5...
Everest Re Holdings Estimates Hurricane, Typhoon Losses at Around $120 Million
Oct 7 2004 // Everest Reinsurance Holdings, Inc., a wholly owned subsidiary of Bermuda’s Everest Re Group, Ltd. announced that its share of the aggregate estimated losses previously announced by the Group from the Florida...
St. Paul Travelers Ivan Losses Around $94 Million
Oct 7 2004 // St. Paul Travelers announced that it estimates losses from Hurricane Ivan to be approximately $94 million, after tax and reinsurance. It said the losses were attributable to its business segments as follows: —...
The Midland Co. Projects Q3 Profit Despite Hurricanes
Oct 7 2004 // The Midland Company, a Cincinnati-based provider of specialty insurance products and services, has projected a third quarter profit, despite volatile weather conditions during the quarter. “We are anticipating...
Vesta Offers Preliminary Hurricane Loss Estimates
Oct 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its gross loss, before reinsurance, from Hurricane Ivan is expected to be in the range of approximately $7.0 to $12.0 million and approximately $23.0 to $37.0 million...
Alfa Corp. Reports on Ivan Losses
Oct 7 2004 // Alabama-based The Alfa Insurance Group and Alfa Corporation have commented on the effects of Hurricane Ivan. Alfa’s Chairman, President and CEO, Jerry Newby, noted, “Hurricane Ivan had a significant impact on...
Wellington Puts Hurricane Losses at $27 Million
Oct 6 2004 // U.K. Lloyd’s insurer Wellington Underwriting plc announced that the net impact on the Group’s profit before tax for 2004 from the recent hurricanes would be approximately £15 million ($27 million). Wellington...
PXRE Estimates Hurricane Losses at $80-$105 Million
Oct 6 2004 // PXRE Group Ltd. announced from Bermuda that it estimates it will incur claims from Hurricanes Charley, Frances, Ivan and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, of $80 to $105 million....
P/C Insurers’ Loss Reserves “Remain Deficient” Says Best Report
Oct 6 2004 // A special report from A.M. Best Co. confirms that “a key driving factor of property/casualty rating downgrades over the past several years has been the impact of significant adverse loss and loss-adjustment expense...
Max Re Estimates Hurricanes’ Impact on Q3 Earnings at $20 to $25 Million
Oct 5 2004 // Bermuda’s Max Re Capital Ltd. announced that preliminary estimates indicate that the Company’s 2004 third quarter earnings will be negatively impacted by $20 to $25 million as a result of Hurricanes Charley,...
Endurance Estimates Hurricane Claims at $115 Million
Oct 5 2004 // Bermuda-based Endurance Specialty Holdings Ltd. reported that estimated aggregate potential claims from hurricanes Charley, Frances, Ivan, and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, is...
