Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Acceptance Posts $131 Million Q3 Loss, Plans to Exit Crop Insurance
Nov 19 2002 // Acceptance Insurance Companies Inc. reported an estimated after-tax net loss of $131 million, or $9.23 per share, for the third quarter of 2002. The figure includes the previously reported loss from crop insurance...
Still in the Black, 3rd Qtr Results Slip for Atlantic American
Nov 18 2002 // Atlantic American Corporation, based in Atlanta, reported a net income of $1.0 million, or $0.03 per diluted share, for the third quarter ended September 30, 2002 compared to net income of $2.1 million, or $0.08 per...
Scor Expects $404 Million 2002 Loss, Recovery Plan Under Way
Nov 18 2002 // In a bulletin released today France’s Scor SA, the world’s 7th largest reinsurer, announced that it expects to post a 400 million Euro ($404 million) loss for the full year, following a net loss of 425 million...
Seibels Bruce Reports Profitable Third Quarter
Nov 18 2002 // The Seibels Bruce Group Inc. of Columbia, S.C. announced financial results for the quarter that ended September 30, 2002, reporting a net profit for the quarter of $1.8 million, or $0.21 per share (basic and diluted). This...
Allianz Posts $2.52 Billion Q3 Net Loss, $933 Million 1st Nine Months
Nov 15 2002 // Germany’s Allianz announced that it would report a net loss for the third quarter of 2.5 billion Euros ($2.525 billion) and a net loss of 924 million Euros ($933 million) for the first nine months of 2002 due to a...
CNA WTC Losses Put at $468 Million Pre-Tax
Nov 15 2002 // CNA’s most recent Form10-Q filing with the Securities and Exchange Commission put overall net pre-tax losses from the attacks on the World Trade Center at $468 million net of reinsurance; after tax losses are...
Generali Posts $402.7 Q3 Loss
Nov 15 2002 // While it wasn’t in the same league with Allianz, Italy’s Generali posted a 401 million Euro ($402.7 million) loss in the third quarter, compared to a 171 million Euro ($171.7 million) profit in the same period...
Brown & Brown Makes Management Changes
Nov 15 2002 // Florida’s Brown & Brown Inc. announced that its Board of Directors elected Jim W. Henderson as president and COO of the company. At the same time, Linda S. Downs, regional executive vice president, was tapped to...
Liquidator Seeks Recovery from Australian Gov’t. for HIH Losses
Nov 14 2002 // Tony McGrath, the KPMG accountant who’s in charge of liquidating failed Australian insurer HIH, has filed a claim against the Australian government alleging that negligent supervision on the part of its insurance...
Midland Ups Estimates of Losses from Hurricane Lili
Nov 14 2002 // The Cincinnati-based Midland Company announced that it has reevaluated the projected impact of losses from Hurricane Lili on its October underwriting results for its American Modern Insurance Group subsidiary. It now...
Tornado Losses in Tenn., Ohio and Other Eastern States Expected to Be $290M
Nov 14 2002 // The tornadoes that swept across the eastern United States this past weekend could cost insurers $290 million – making it one of the top five costliest tornado events, according to the Insurance Information Institute...
No Loss Figures Yet for Storm-Ravaged States
Nov 13 2002 // It will be another day or two before State Farm Insurance Company will have information on the amount of insured losses resulting from a series of strong storms that hit eastern and southeastern states Nov. 10 and 11. At...
AXA Posts 2.5% (5.3% Comparable) Revenue Gain for First 9 Months
Nov 13 2002 // France’s AXA earned total revenues of Euro 56.911 billion in the first nine months of the year, compared to Euro 55.539 billion in the same period last year, a 2.5 percent increase. Factoring in exchange rate...
GAINSCO Sees Improvements in 3rd Qtr. 2002
Nov 13 2002 // Fort Worth-based GAINSCO Inc. reported net income for the third quarter 2002 of $0.2 million, which represents a net loss applicable to common shareholders of $0.6 million., and a net loss of $0.03 per common share, basic...
COLO. WORKERS’ COMP LOSS COSTS TO DECREASE
Nov 11 2002 // Beginning Dec. 1, 2002, workers’ compensation loss costs for Colorado will decrease an average of 10.5 percent. Although individual employer workers’ compensation premiums are affected by other rating factors,...
Three Strikes to Lower Agency Value
Nov 11 2002 // In the past year or so there have been some notable acquisitions of agencies that were pushing the agency value envelope. For some cases, banks were making their platform acquisition and thus willing to pay top dollar to...
A.M. Best: A&E Losses Increase in 2001, Reversing Two-Year Decline
Nov 11 2002 // The property/casualty industry is expected to ultimately incur more than $121 billion in net asbestos and environmental losses, according to the special report, “Largest Increase in A&E Losses to Date Seen in...
A&E LOSSES RISE IN 2001
Nov 11 2002 // A special report recently released by A.M. Best Co., “Largest Increase in A&E Losses to Date Seen in 2001,” suggests that the property/casualty industry will ultimately incur more than $121 billion in net...
Trenwick Reports $135 Million Q3 Operating Loss
Nov 8 2002 // Bermuda-based Trenwick Group Ltd. reported an operating loss of $135 million, or $3.67 per share, for the third quarter of 2002 and an operating loss of $142.6 million, or $3.88 per share for the first nine months of...
CNA Reports $38 Million Q3 Net Operating Income
Nov 8 2002 // Chicago-based CNA Financial Corporation reported third quarter net operating income from continuing operations of $38 million, or $0.17 per share, as compared with a net operating loss from continuing operations of $160...
