Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Zenith National Pleased With Continued Improving Numbers
Nov 1 2002 // California-based Zenith National Insurance Corp. reported operating income after tax of $7.0 million, or $0.37 per share, for the third quarter of 2002 compared to an operating loss after tax of $22.8 million, or $1.30 per...
Moody’s Expecting Modest Losses for P/C Insurers’ Investment Portfolios
Nov 1 2002 // Moody’s reports that further decline is likely for many U.S. P/C insurers’ investment portfolios because of credit losses resulting from exposure to troubled companies. However, in the newly released report,...
A.M. Best Says Chubb Ratings Unaffected by Pretax Charge to Increase Revenues for 3rdQ Asbestos Liabilities
Oct 31 2002 // A.M. Best Co. stated the financial strength rating of A++ (Superior) of the Chubb Group of Insurance Companies, (NYSE: CB) (Warren, NJ), the “aa” senior debt ratings of The Chubb Corporation, Chubb Capital...
XL Capital Reports Q3 results-$184 Million Net, $221 Million Operating
Oct 31 2002 // Bermuda’s XL Capital Ltd’s third quarter results seem to have trumped rival ACE Limited with a reported net income available to ordinary shareholders for the quarter ended September 30 of $184 million, or $1.34...
Ohio Casualty Reports $69.9 Million Q3 Loss
Oct 31 2002 // Ohio Casualty Corporation announced a net loss of $69.9 million, or $1.14 per share, for the third quarter ended September 30, 2002, compared to net income of $44.2 million, or $.73 per share, in the same period last...
W.R. Berkley Corp. Sees 3rd Q Profit
Oct 30 2002 // W. R. Berkley Corporation reported third quarter operating income of $42 million, or 81 cents per share, compared with an operating loss of $12 million, or 28 cents per share, a year ago. For the first nine months of 2002,...
Willis Post Q3 Gains in Operating and Net Profits
Oct 30 2002 // Willis Group Holdings Limited, the world’s third largest global insurance broker, announced third quarter operating revenues before taxes and interest of $64 million, compared to a $72 million loss in the same period...
Heavy Loss of Life in Vietnam Building Fire
Oct 30 2002 // A fire which broke out in the International Trade Center Building in Ho Chi Min City (ex-Saigon) Tuesday afternoon has claimed the lives of at least 59 people, and possibly many more according to newspaper reports. Offices...
ACE Posts Q3 Increases in Operating Earnings, Net Loss Narrows
Oct 30 2002 // ACE Limited reported net operating income of $158 million for the quarter ended September 30, 2002 compared with a net operating loss of $390 million for the same quarter in 2001. It also announced a net loss for the...
SCOR Warns of $246 Million 2002 Loss
Oct 30 2002 // France’s SCOR Group, the world’s 8th largest reinsurer, issued a profit warning today, stating that: “a net loss estimated at around EUR 250 million [$246 million] is expected for the full year...
Chubb Notes Written Premiums Grow By 33 Percent
Oct 30 2002 // The Chubb Corporation reported that net written premiums grew 33 percent as insurance rates continued to rise in all three strategic business units and as the company continued to attract new customers. Chubb had an...
SAFECO Reports Continued Earnings With 3rdQ Net Income Increase
Oct 29 2002 // SAFECO reported continued earnings growth as third-quarter net income increased to $75.2 million, or $0.59 per diluted share. Income before charges and realized gains increased to $86.4 million, or $0.68 per diluted...
Baldwin & Lyons Posts $6.1 million Q3 Operating Profit
Oct 29 2002 // Indianapolis-based specialty insurer Baldwin & Lyons (B&C) announced that third quarter operating income, which excludes capital gains/losses, were $6.1 million, its highest quarterly return ever, reaching 52...
Lloyd’s Leads the Way to Profitable Industry
Oct 29 2002 // “Too many of us believe that the insurance market is dictated to by the insurance cycle.” Those were the words of Julian James, director of Worldwide Markets at Lloyd’s of London. James spoke before a...
Colo. Workers’ Comp Loss Costs to Decrease
Oct 28 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,...
Harleysville Reports 16% Commercial Premium Growth
Oct 28 2002 // The Harleysville Group Inc. of Harleysville, Pa. announced results for the third quarter of 2002. Company chairman and CEO Walter Bateman noted that commercial lines also achieved a combined ratio of 100 percent....
Converium Posts Narrow Q3 Loss on Reserve Strengthening
Oct 28 2002 // The Swiss-based Converium Group, the world’s 8th largest reinsurer, reported a pre-tax operating loss of $71.2 million for the three months ended September 30, compared to a pre-tax operating loss of $344.7 million...
AON STUDY REPORTS HOMEOWNERS MARKETPLACE STILL NOT EARNING ITS COST OF CAPITAL
Oct 28 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...
Reinsurance Market Tries to Reel In Profits
Oct 28 2002 // A year ago the reinsurance industry faced the biggest loss event in its history – the attacks on the WTC and the Pentagon. Nevertheless, commentators were almost unanimous in predicting that the market would harden,...
Reinsurance and the Reaction to September 11
Oct 28 2002 // As I am writing this, President Bush is pushing Congress to consider the insurance terrorism bill that has been floating around Congress for months. When asked recently to describe what measures should be taken in order to...
