Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
Natural Disasters More Severe and More Costly
Feb 23 2004 // According to a recently released report from Munich Re, fatalities caused by natural catastrophes were up 450 percent in 2003, while insured losses reached $15 billion. More ominous was the reinsurer’s conclusion...
Michigan Still a Loss Ratio Laggard
Feb 23 2004 // The U.S. Census Bureau’s 2000 census estimated the Michigan’s population at almost 10 million. About 83 percent of the adult residents had graduated from high school and about 22 percent had earned a...
HCC Notes 2003 Results and 2004 Earnings Guidance
Feb 20 2004 // Houston-based HCC Insurance Holdings Inc. reported results for the fourth quarter and for the full year that ended Dec. 31, 2003. Net earnings for the fourth quarter 2003 increased significantly to $50.5 million, or $0.77...
Zurich Bounces Back with $2.1 Billion 2003 Net; Best Comments
Feb 20 2004 // Zurich Financial Services (ZFS) has rebounded strongly. After its disastrous $3.4 billion loss in 2002, the company reported net earnings of $2.1 billion for 2003, a return on equity of 12.5 percent. Other highlights cited...
APCapital Q4 Barely Profitable; $76 Million Loss for Year
Feb 19 2004 // East Lansing, Mich.-based medical liability insurer American Physicians Capital Inc. announced net income of $102,000, or 1 cent per share for the fourth quarter of 2003. For the year, the company reported a net loss of...
WCIRB Report on Q3 2003 Insurer Results Released
Feb 18 2004 // The WCIRB has compiled a summary of insurer reports of loss and premium experience valued as of September 30, 2003. The report shows that statewide insurer written premium for the first three quarters of 2003, prior to...
Arch Capital Reports $83.7 Million Q4 Net; $280.6 Million Full Year
Feb 18 2004 // Bermuda-based Arch Capital Group Ltd. reported that its net income for the 2003 fourth quarter was $83.7 million, or $1.22 per share, compared to $43.5 million, or $0.65 per share, for the 2002 fourth quarter. Net income...
