Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
PCI: Fla. Businesses Hit Hard by Charley
Aug 26 2004 // Florida businesses appear to have suffered a significant portion of the overall damage from Hurricane Charley, according to the Property Casualty Insurers Association of America (PCI). Wednesday’s estimate by the...
CNA Announces Preliminary Loss Exposure Estimate Related to Hurricane Charley
Aug 26 2004 // CNA Financial Corporation reported its preliminary estimate of net losses related to Hurricane Charley. While it is too early to estimate precisely the financial impact on CNA of this catastrophe, based upon information...
RLI, CFC, Midland Issue Charley Loss Estimates
Aug 26 2004 // Two Cincinnati insurers and Peoria, Ill.-based RLI issued preliminary loss estimates relating to Hurricane Charley, which swept across portions of the Southeastern United States nearly two weeks ago. Cincinnati Financial...
PXRE Estimates Charley Losses at $13 to $18 Million
Aug 25 2004 // The Bermuda-based PXRE Group Ltd. announced that it expects to incur a net loss arising from Hurricane Charley of $13 to $18 million, after tax and reinstatement premiums. President and CEO Jeffrey L. Radke commented:...
IPC Sees Charley Losses Between $35-$45 Million
Aug 25 2004 // Bermuda’s IPC Holdings, Ltd. said that, based upon a preliminary analysis of initial information available, it expects third quarter, 2004 earnings to be negatively impacted by Hurricane Charley in the range of $35...
Aspen Puts Charley Losses between $35-50 Million
Aug 25 2004 // Aspen Insurance Holdings Limited announced that its loss estimates resulting from Hurricane Charley are in the range of $35 to $50 million after reinsurance and tax. CEO Chris O’Kane commented: “We have...
Safeco Estimates Losses From Hurricane Charley
Aug 25 2004 // Seattle-based Safeco announced that claims stemming from Hurricane Charley are estimated at $45 million in pretax catastrophe losses. This figure represents the estimated losses both from claims received through Aug. 24,...
Fairfax Puts Charley Losses at $40 Million
Aug 24 2004 // Canada’s Fairfax Financial Holdings Limited announced that its initial estimate of aggregate potential net losses relating to Hurricane Charley will be “in the range of US $35 million to US $40 million after...
White Mountains, Montpelier Re Hurricane Charley Loss Estimates May Top $100 Million
Aug 24 2004 // In separate announcements Bermuda’s White Mountains Insurance Group, Ltd. and its insurance operation, Montpelier Re Holdings Ltd., released estimates of losses the companies may suffer as a result of claims from...
Ohio Casualty Corp. Announces Loss Estimates from Hurricane Charley
Aug 24 2004 // Ohio Casualty Corporation announced that it expects net catastrophe losses in the range of $6 to $8 million before-tax from Hurricane Charley. The catastrophe loss impact for Hurricane Charley is expected to add...
Right This Way! Hotels Make Room for Risk Management
Aug 23 2004 // In the months after the Sept. 11 terrorist attacks, the U.S. hospitality industry took a one-two punch. Travel and tourism plummeted as worried Americans canceled vacation plans and cautious businesses cut back on trips....
PartnerRe, Converium, Transatlantic and SCOR Give Preliminary Loss Estimates from Hurricane Charley
Aug 20 2004 // Bermuda-based PartnerRe Ltd. estimated that claims relating to its exposure to Hurricane Charley are expected to be between $35 and $45 million. Transatlantic Holdings, Inc. announced from New York that its estimated net...
AIG Estimates Charley Losses at $80 to $100 Million
Aug 20 2004 // American International Group, Inc. has issued an initial estimate of its total expected losses from Hurricane Charley, indicating that the total after tax would be in a range of $80 to $100 million. “This total...
Panel Takes Fresh Look at Terrorism
Aug 20 2004 // In a code orange New York, the International Association of Industrial Accident Boards and Commissions (IAIABC) took a fresh look at terrorism and its relation to workers’ compensation at its recent 90th Annual...
Unitrin’s Q2 Profit Up Nearly $40 Million
Aug 18 2004 // Chicago-based property/casualty insurer Unitrin Inc. has reported second-quarter net income of $62.4 million (91 cents per common share), 57 percent higher than the $22.7 million (34 cents per common share) in profit the...
Cincinnati Financial’s Q2 Profit Up 84% From a Year Ago
Aug 17 2004 // Property/casualty insurer Cincinnati Financial Corp. reported second-quarter net income of $155 million, or 91 cents per diluted share, up 83.9 percent from $84 million, or 50 cents per share, from a year ago. Net income...
Allianz Posts Strong 1st Half Results
Aug 17 2004 // Germany’s Allianz Group reported a very strong first half for 2004 with total revenues of 49.5 billion euros ($61 billion). Net income was 1.289 billion euros ($1.59 billion), an increase of more than 1.1 billion...
Fitch Sees Improving Workers’ Comp Market, But Warns Earnings May Be at Cyclical Peak
Aug 17 2004 // Fitch Ratings has issued a brief comment noting that it expects the workers’ compensation insurance market to continue to improve in 2004. However, the new report warns that profitability may peak in 2004 as pricing...
RMS: $6 to $8 Billion Insured Losses from Charley
Aug 17 2004 // Catastrophe modeling firm Risk Management Solutions (RMS) has estimated insured losses from Hurricane Charley at $6 to $8 billion based on a detailed reconstruction of the storm’s windfield and damage pattern. RMS...
EMC’s Profit Up 70% From Last Q2
Aug 16 2004 // Des Moines, Iowa-based property/casualty insurer and reinsurer EMC Insurance Group Inc. reported second-quarter net income of $3.4 million, or 30 cents per share, compared to $1.4 million, or 12 cents per share, a year...
