Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
XL Estimates European Flood Losses at $50 Million, Investment Downturn to Affect Earnings
Oct 15 2002 // XL Capital Ltd. led off the Bermuda Angle Conference at the Fairmount Southampton Princess Hotel in Bermuda with the announcement that the company’s 3rd quarter earnings would be hit by an estimated net loss from the...
Recent Losses Increase Pressure to Raise Hull Rates
Oct 15 2002 // The Joint Hull Committee (JHC), a cooperative organization between the London-based International Underwriting Association (IUA) and Lloyd’s Underwriters’ Association, announced that recent hull losses would...
WEISS REPORTS P/C INSURERS POST $5.5B PROFIT IN 1stQ 2002
Oct 14 2002 // The nation’s property and casualty insurers reported a $5.5 billion profit for the first three months of 2002, representing a $260 million, or 4.9 percent, increase over the same period last year, according to Weiss...
2001 Market Share For Insurers in Texas
Oct 14 2002 // The 2001 premium and loss data for Texas verifies everything you heard from the insurance companies ā it was a really bad year. Here are the highlights in review: ā¢ Texas accounts for 7 percent of the national premium...
Brown & Brown Sees Record Earnings
Oct 11 2002 // Florida-based insurance holding company Brown & Brown Inc. announced a record 50.6 percent increase in quarterly earnings for the third quarter of 2002 over the third quarter of 2001. The company posted earnings of...
Fitch Ratings Expects Low Losses From Hurricane Lili
Oct 10 2002 // Fitch Ratings announced the release of a special report titled, “Hurricane Lili: Storm Weakens before Landfall, Low Insured Losses Expected as a Result,” which predicts damages from the hurricane will not...
Republic Western Profitable for Second StraightQ
Oct 10 2002 // Richard Amoroso, president and CEO of Phoenix-based Republic Western Insurance Company (RepWest), announced that the Company achieved profitability for the second straight quarter in calendar year 2002. In addition to...
Swiss Re Sigma Study Analyzes 2001 Losses, Equity Decreases
Oct 10 2002 // Swiss Re’s latest Sigma report, No.4/2002, offers an analysis of the non-life insurance industry, and how it is adjusting to “two major shocks – the catastrophic losses of 2001 and the ongoing stock...
Max Re Expects to Post 3Q Loss
Oct 4 2002 // Max Re Capital Ltd., one of Bermuda’s larger p/c reinsurers, announced that it expects to report a net operating loss for the three months ended September 30, 2002, mainly due to lowered returns on its...
Aon Study Reports Homeowners Marketplace Still Not Earning Its Cost of Capital
Oct 4 2002 // Aon Corporation announced the results of Aon Re Worldwide’s comprehensive study of the U.S. homeowners marketplace. The results of the study reveal that the homeowners insurance industry, despite recent rate and...
EQECAT To Help Canadian Insurance Bureau Redefine CRESTA Zone Boundaries for Earthquake Loss Exposure
Oct 3 2002 // Oakland-based EQECAT has been selected by the Insurance Bureau of Canada (IBC) to participate in a major industry study that will revise and redraw the Canadian CRESTA zone seismic boundaries. The study plans to use...
ISO to Bolster A-Plus Loss-History Databases in Verifying Policy Coverage
Oct 2 2002 // Insurance Services Office, Inc. (ISO) is bolstering its Automobile-Property Loss Underwriting Service (A-PLUSTM) by developing a new database that will help underwriters, brokers and agents quickly verify coverage and...
Moody’s Estimates Lloyd’s Losses at Ā£5 Billion for 2000/2001
Oct 1 2002 // Moody’s Investors Service’s latest forecasts for the Lloyd’s Market indicate it will lose around Ā£5 billion ($7.8 billion) for the 2000 and 2001 years of account. According to the report, the loss...
Fiduciary, Non-Profit Liability
Sep 30 2002 // Nuts & Bolts: Rockwood Programs has introduced the Rockwood Protector Fiduciary Liability Plan, and the Rockwood Guardian Not-For-Profit Liability Plan. The Fiduciary Liability Plan protects the personal and corporate...
An Exact Science: Insuring Biotech Takes Know-How
Sep 30 2002 // As far as commercial property and casualty coverages are concerned, it goes without saying that individual companies require specific types of policies to most effectively address risks inherent to their industries. The...
P&C Net Income Sees 1st Half Surge; Surplus Dips on Weak Investment Results
Sep 25 2002 // The U.S. property/casualty industry’s net income after taxes rose 66.4 percent to $4.6 billion in first-half 2002 from $2.8 billion in first-half 2001, primarily because of improved underwriting results. But the...
AAI Says P&C First-Half Results Could be Better
Sep 25 2002 // The six-month profit increase earned by property & casualty insurers reported recently by A.M. Best Co. is a step in the right direction, but conditions in the industry aren’t as rosy as such improved financials...
Indiana Tornado Losses Will Prove Costly
Sep 25 2002 // The tornadoes that ripped through Indiana last week will prove costly. Preliminary estimates put the costs of repairing the damages in Marion County alone at $29,797,800. An article in the Indianapolis Star reported that a...
Weiss Reports P/C Insurers Post $5.5B Profit in 1stQ 2002
Sep 24 2002 // The nation’s property and casualty insurers reported a $5.5 billion profit for the first three months of 2002, representing a $260 million, or 4.9 percent, increase over the same period last year, according to Weiss...
ACE Q3 Earnings Hit by $90 Million in European Flood Losses
Sep 19 2002 // Bermuda’s ACE Limited announced today that an accumulation of losses resulting principally from the recent floods in Eastern Europe will impact operating income in the third quarter of 2002, by “approximately...
