Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
WCIRB’s Summary of 1Q Experience Reveals Cont’d Price Increases
Aug 30 2002 // The WCIRB’s recently released summary of statewide first quarter 2002 experience shows sharp increases in insurer rates as well as continued deterioration in loss development. Average insurer rates on policies...
Fortis 1st Half Net Profit Falls 18% to $1.49 Billion
Aug 29 2002 // Fortis, the Belgian-Dutch insurance and financial services group, posted an 18 percent decline in net profits to €1.52 billion ($1.49 billion), compared to €1.85 billion ($1.82 billion) in the 1st half of...
Near North Posts 20% Revenue Increase in 1st Half
Aug 29 2002 // Chicago-based broker Near North National Group announced a 20 percent increase in consolidated revenues and net income for the first half of the year, which it attributed mainly to increased business from clients, rather...
Hannover Re, Converium Expect Minimal Flood Losses
Aug 22 2002 // Many analysts expect that the floods in Eastern Europe could end up costing the continent’s insurers as much as $3 billion, but two leading reinsurers, Hannover Re and Converium, both issued statements yesterday...
Court Gives Go-Ahead for Independent Appraisal in WTC Loss
Aug 21 2002 // A New York court ruled Aug. 19 that Larry Silverstein, the leaseholder of the World Trade Center, and his insurers should appoint independent appraisers who should make an attempt to come to an agreement on the value of...
European Flood Update – Losses in the Billions
Aug 19 2002 // Even as German Chancellor Schroeder met with other European leaders in Berlin on Sunday to find ways of dealing with the unprecedented floods sweeping across Eastern Europe, workers in Budapest struggled to contain the...
S&P’s Maintains Negative Outlook for European Reinsurers
Aug 16 2002 // Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over...
ebix.com Reports Profitable 2ndQ Results
Aug 15 2002 // ebix.com Inc., an international supplier of software and e-commerce solutions to the property and casualty industry, announced results for the second quarter ended June 30, 2002. ebix.com reported second quarter net income...
S&P’s: ACE Europe Reports $90 Million Loss for 2001
Aug 15 2002 // Standard & Poor’s Ratings Services said that its ratings and outlook on Belgium- based insurer ACE Insurance S.A.—N.V. will not be affected at this time by the company’s reported negative net income of...
Acceptance Companies Notes Loss
Aug 14 2002 // Iowa-based Acceptance Insurance Companies Inc. announced a net after-tax loss of $5.2 million, or $0.36 per share, for the three months ended June 30, 2002. This compares with a net after-tax loss of $888,000, or $0.06 per...
GAINSCO Reports 2ndQ Loss of $4.8M
Aug 14 2002 // Texas-based GAINSCO INC. released its financial results for the second quarter of 2002, including a net loss of $4.8 million. This compares to a second quarter 2001 net loss of $7.9 million (net loss applicable to common...
Endurance Specialty Reports 2ndQ Net Income of $31.3M
Aug 13 2002 // Bermuda-based Endurance Specialty Insurance Ltd. reported net income of $31.3 million for the second quarter ended June 30, 2002. Gross premiums written and acquired for the period were $264.3 million. Net premiums earned...
The Seibels Bruce Group Notes 2ndQ Profit 2002
Aug 13 2002 // South Carolina-based The Seibels Bruce Group Inc., posted a net profit of $1.0 million, or $0.11 per share (basic and diluted) in the second quarter This is compared with a net profit of $1.1 million, or $0.13 per share...
Zurich Financial Reports $100M Realized WorldCom Loss
Aug 12 2002 // Swiss insurer Zurich Financial Services AG reports it has a realized capital loss of approximately $100 million on investments related to WorldCom Inc., according to a Dow Jones report. A Zurich spokesperson said the...
Workers’ Comp Loss Costs Expected to Decrease for Some Colo. Employers
Aug 12 2002 // Workers’ compensation costs for some Colorado employers may decrease on average about 10.2 percent later this year. Insurance Commissioner William J. Kirven III announced that the National Council on Compensation...
HCC Announces 32 Percent Increase in 2ndQ Net Earnings
Aug 12 2002 // HCC Insurance Holdings Inc. of Houston announced financial results for the second quarter and six months of 2002. Second quarter net income totaled $26.8 million, a 32 percent increase from the second quarter of 2001. Net...
CNA Moves to 2ndQ profit on rising premiums
Aug 9 2002 // CNA Financial Corp. reported it swung to a second-quarter profit, able to raise prices on many of its policies. CNA, which is 87 percent-owned by holding concern Loews Corp., posted net income of $35 million, or 16 cents a...
SCOR Reports 16 Percent Rise in Premium Income
Aug 8 2002 // For the first six months of the year French reinsurer SCOR registered a robust 16 percent rise in premium income at constant exchange rates. The company attributed the rise to improving non-life reinsurance rates and the...
Argonaut Reports $6M in Quarterly Net Income
Aug 8 2002 // Texas-based Argonaut Group Inc., a specialty insurer, announced financial results for the three- and six-month periods ending June 30. In addition, the company’s board of directors declared a regular quarterly cash...
Partner Re Reports Record Operating Results
Aug 6 2002 // Bermuda-based PartnerRe Ltd. reported record operating results for the second quarter 2002, and reaffirmed its prior earnings guidance for the full year. PartnerRe President & CEO, Patrick Thiele, commented,...
