Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
TDI: Data Shows Improvement in Homeowners Market
Mar 16 2004 // The Texas homeowners insurance market has turned the corner and is regaining momentum to be more competitive, according to year-end reports that carriers file with the Texas Department of Insurance (TDI). TDI said the top...
Aegon Reports 16% 2003 Profit Rise to $2.187 Billion
Mar 15 2004 // Aegon, the Netherlands’ insurer and financial services giant, reported fourth quarter net income rose 32 percent to 470 million euros ($573 million), while full year earnings rose 16 percent to 1.793 billion euros...
Navigators Releases 2003 Q4 and Full Year Numbers
Mar 10 2004 // The Navigators Group Inc. reported net income of $7,685,000 or $0.80 per diluted share for the year ended Dec. 31, 2003 compared to $16,397,000 or $1.89 per diluted share for the year ended 2002. The net loss for the 2003...
SCPIE Holdings Announces 2003 4thQ, Year-End Results
Mar 9 2004 // Los Angeles-based SCPIE Holdings Inc., a provider of healthcare liability insurance, reported results for its fourth quarter and full year ended Dec. 31, 2003. The company also announced that its Board of Directors has...
P/C Insurers’ Profits Double First Three Quarters of 2003; Industry’s Underwriting Loss Sees Improvement
Mar 9 2004 // Property and casualty insurers earned $22.9 billion during the first nine months of 2003, representing a $12.1 billion, or 112 percent, increase over the $10.8 billion profit reported during the same period in 2002,...
OHIO CASUALTY LAYS OFF 260:
Mar 8 2004 // Insurer Ohio Casualty Corp. announced that its 2004 fourth-quarter profit was $27.7 million, down 5 percent from last year’s $29.1 million. Meanwhile, the Fairfield, Ohio-based company boasted that a company-wide...
Model Behavior or Behavior Modeling’ Tools to Put Your Submission on Top
Mar 8 2004 // Underwriting risk is a tricky business whether in a hard or soft market. Competence and experience will always be a hard combination to find, but is greatly valued by strong companies. It’s amazing that even the best...
PCI Answers Questions on Use of Loss Reports in Nevada
Mar 8 2004 // The use of loss history reports on individual dwellings is an important and necessary tool that insurers need to help them underwrite homeowners’ policies in Nevada. That’s the message delivered by the Property...
Berkshire Hathaway’s Fourth Quarter Earnings Soar; Profits Driven by Insurance Operations
Mar 8 2004 // Berkshire Hathaway Inc. reported that fourth-quarter earnings more than doubled, partly due to the company’s $1.7 billion pre-tax underwriting profit from insurance operations, because “that’s where the...
New Swiss Re Sigma Study Reviews 2003 CAT Losses
Mar 3 2004 // Natural and man-made catastrophes caused the deaths of more than 60,000 people worldwide last year, according to Swiss Re’s latest sigma report. Over two thirds of these were the victims of earthquakes. Overall...
Market Analyst Summarizes Calif. Results in 2002 NAIC Report on W.C. Profitability
Mar 1 2004 // In late January 2004, the National Association of Insurance Commissioners (NAIC) released its “Report on Profitability by Line by State” for 2002. The NAIC report provides complete, direct income statement data...
P/C Results Lift AXA Earnings
Mar 1 2004 // France’s AXA Group, Europe’s second largest insurer, reported net profits of 1 billion euros ($1.251 billion), buoyed by a strong recovery in its P/C division. The results exceeded analysts’ forecasts,...
AIA Says Calif. Applicant Attorneys’ Deceptive Claims About Insurer Profits is Pure Spin
Feb 27 2004 // As the California legislature prepares to act on Governor Schwarzenegger’s proposed overhaul of the state’s expensive, dysfunctional workers’ compensation system, the special interest group with the most...
Ascent Assurance Notes Q4 Results
Feb 27 2004 // Ascent Assurance, Inc. (AASR.OB) today reported net income, excluding preferred stock dividends recorded as interest expense, of $66,000 for the fourth quarter of 2003 as compared to a net loss of ($758,000) for the fourth...
FPIC Insurance Group Unveils Q4 and Year 2003 Numbers
Feb 26 2004 // Florida-based FPIC Insurance Group, Inc. reported net income of $4.9 million, or $0.49 per diluted share, for the fourth quarter 2003, compared to net income of $5.0 million, or $0.53 per diluted share, for the fourth...
ProAssurance Reports Q4 and Year-End 2003 Results
Feb 24 2004 // Alabama-based ProAssurance Corporation reported Net Income of $38.7 million, or $1.33 per diluted share, for 2003, more than triple 2002’s Net Income of $12.2 million. Net Income for the fourth quarter of 2003 was...
Ark. Outlines Expectations for Renewals, Cancellations and Underwriting
Feb 24 2004 // On February 20, 2004, the Arkansas Insurance Department issued the following directive on cancellations, nonrenewals and discriminatory underwriting practices for property and casualty insurance: The Department recognizes...
Unreimbursed Property/Casualty Losses Often Overlooked Tax Deduction Says III
Feb 24 2004 // With less than two months left until tax day, taxpayers are sifting through their files to assess last year’s gains and losses. An often-overlooked deduction is unreimbursed property and casualty losses, according to...
AUTO RESIDUAL MARKET LOSSES RISE
Feb 23 2004 // The Property Casualty Insurers Association of America reported that residual market plans for private passenger auto insurance continue to result in significant losses. The private passenger auto residual market increased...
MICH., MO. SHARED AUTO PLANS HAD UNDERWRITING LOSSES:
Feb 23 2004 // A new report by the Property Casualty Insurers Association of America (PCI) shows that residual market plans for private passenger auto insurance continue to result in significant losses for insurance companies, and...
