Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Unitrin Tabs Full Hurricane Losses at Less Than $15M
Oct 17 2004 // Chicago-based Unitrin, Inc. announced that it expects its net losses resulting from Hurricanes Charley, Frances, Ivan and Jeanne combined will be less than $15 million after-tax. Unitrin had previously disclosed that its...
S&P Lowers FSR for Fireman’s Fund, Some Subs
Oct 15 2004 // Standard & Poor’s Ratings Services has lowered its counterparty and financial strength ratings on Fireman’s Fund Insurance Co. (FFIC) and some of its rated subsidiaries and its financial strength ratings...
St. Paul Travelers Sees $94 Million in Ivan Losses
Oct 14 2004 // The St. Paul Travelers Cos. announced that it estimates losses from Hurricane Ivan to be about $94 million, after tax and reinsurance. The St. Paul, Minn., insurer said about $49 million of its losses came on its...
Survey Says Nearly 8 in 10 Calif. Homeowners in Fire Danger Areas Think Wildfire Losses ‘Unlikely’
Oct 14 2004 // Seventy-eight percent of California homeowners living in identified fire danger areas believe that it is “somewhat” or “very” unlikely their home will be damaged or destroyed by a wildfire,...
AIG Reports on Hurricane, Typhoon Losses; $500-$515 Million After Tax Net Losses Expected
Oct 14 2004 // American International Group Inc. (AIG) has issued an estimate of its total expected losses relating to Hurricanes Charley, Frances, Ivan and Jeanne, and Typhoons number 16 (Chaba), 18 (Songda) and 21 (Meari) in Japan. AIG...
CFC Tabs Jeanne Losses at About $8 Million
Oct 12 2004 // Property/casualty insurer Cincinnati Financial Corp. announced an estimate of $8 million for pretax catastrophe losses resulting from Hurricane Jeanne and updated estimates for prior storms. Including Jeanne, third-quarter...
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...
