Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
ACE Reports $3 Million Q3 Net Loss
Oct 28 2004 // Bermuda’s ACE Limited reported a net loss for the third quarter ended Sept. 30, 2004 of $3 million or $(0.05) per common share after payment of preferred dividends, compared with net income of $355 million or $1.22...
Willis Q3 Results Show Declines; 9-Month Increase
Oct 28 2004 // Willis Group Holdings Limited reported that net income for the third quarter of 2004 was $75 million, or $0.45 per diluted share, compared with $99 million, or $0.59 per diluted share, a year ago. The international...
St. Paul Travelers Looks to Bring Top Line in Commercial Up as it Unveils Q3 Report
Oct 28 2004 // The St. Paul Travelers Cos. Inc. (NYSE:STA) has reported net income of $340 million for the third quarter ended Sept. 30, 2004, or $0.51 per basic share and $0.50 per diluted share, compared to $426 million, or $0.98 per...
Fitch Drops Marsh & McLennan’s Senior Debt
Oct 28 2004 // Fitch Ratings has downgraded the senior debt and long-term ratings on Marsh & McLennan Companies Inc. (Marsh) to ‘BBB’ from ‘A-‘. The short-term ratings on Marsh remain at ‘F2’. All...
S&P Announces Reaction to Recent MMC Developments
Oct 27 2004 // Following recent developments at Marsh & McLennan, Standard & Poor’s Ratings Services has issued a bulletin, which sets forth its initial reaction to the changes (See related articles). S&P said its...
AIG Private Client Creates Loss Prevention Unit
Oct 27 2004 // AIG Private Client Group, a division of the property and casualty insurance subsidiaries of American International Group, announced the creation of a Department of Loss Prevention to minimize high net worth...
Guy Carpenter Unveils Reveal for Workers’ Comp Risks
Oct 27 2004 // Guy Carpenter & Company Inc. has announced the introduction of the Reveal model, a refined exposure rating tool that helps to identify the drivers of costly excess losses within workers’ compensation...
Converium Reports $116.3 Million Q3 Loss
Oct 26 2004 // Embattled Swiss reinsurer Converium Holdings AG has reported a $116.3 million third quarter loss in financial statements released today. The company said the results reflect “the continuing satisfactory underlying...
Allmerica Reports Big Jump in 3d Quarter Results
Oct 26 2004 // Allmerica Financial Corporation (NYSE: AFC) in Worcester, Mass. has reported third quarter net income of $17.7 million, or $0.33 per share, compared to net income of $11.4 million, or $0.21 per share, in the third quarter...
State Auto Financial Unveils Q3 Report
Oct 26 2004 // Ohio-based State Auto Financial Corp. reported third quarter net income of $5.0 million, or $0.12 per diluted share, versus $15.6 million or $0.38 per diluted share for the same period in 2003. Net operating earnings(a)...
Infinity Notes Rise in Net Earnings From Q3 2003
Oct 26 2004 // Alabama-based Infinity Property and Casualty Corp., a provider of personal automobile insurance with an emphasis on nonstandard auto insurance, reported that net earnings for the third quarter of 2004 were $23.0 million or...
Chubb Sees Growth in Q3
Oct 26 2004 // The Chubb Corporation (NYSE: CB) on Tuesday reported that net income in the third quarter of 2004 was $364.0 million or $1.88 per share, compared to $259.8 million ($1.37 per share) in the third quarter of 2003. Operating...
LOSSES FROM 4 FLA. HURRICANES WILL EXCEED ANDREW’S RECORD:
Oct 25 2004 // Insurance claim payments to victims of the four Florida hurricanes to date will exceed $22 billion, surpassing the insurance payout from Hurricane Andrew, the costliest natural disaster in history, according to the...
HURRICANE IVAN LOSSES IN ALABAMA $279M TO $325M:
Oct 25 2004 // Alabama-based The Alfa Insurance Group and Alfa Corporation have commented on the effects of Hurricane Ivan. “Hurricane Ivan had a significant impact on certain counties in Alabama and created a large number of...
TDI SEES IMPROVED LOSS RATIOS:
Oct 25 2004 // The Texas Department of Insurance reported that second quarter 2004 financial results submitted to TDI indicate a number of Texas homeowners insurance providers are improving their loss ratios—a result of efforts to...
Workers’ Comp Loss Prevention, Going Beyond the Safety Dance
Oct 25 2004 // You work hard, yet you’re frustrated. Why is your client still suffering from employee injury problems and escalating workers’ compensation insurance cost regardless of your efforts? So, is the solution to do...
SAFECO ESTIMATES 3Q CATASTROPHE LOSSES:
Oct 25 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...
Professional Liability: Will the Cycle Remain Unbroken’
Oct 25 2004 // Some say it’s over—the hard market, that is. Certainly in some areas of professional liability this is true. Many renewal premiums in 2004 are flat, or are even dropping by 10 percent or more. Not withstanding the...
Take Two: Looking at the Med-Mal Crisis from Both Sides
Oct 25 2004 // National editor Andrea Ortega-Wells recently moderated a “Take Two” debate discussing the hot topic of medical malpractice, and what, if any, reforms are needed. The debate featured Paula Sweeney, partner with...
Torchmark 1st Q Income Up 10 Percent
Oct 21 2004 // Torchmark Corporation (NYSE: TMK) of Birmingham, Ala. reports that for the quarter ended September 30, 2004, net income was $1.12 per share ($124 million) compared with $.94 per share ($108 million) for the year-ago...
