Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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...
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,...
Federal Government, Insurers Tout Importance of Cyber Coverage
Oct 28 2002 // Recently, the White House unveiled the National Plan to Secure Cyberspace, an initiative urging insurers and companies to assess and manage exposures to cyber risk. Among other things, the plan calls for developing new...
High Medical Costs, Big Losses Hinder Workers’ Comp Market
Oct 28 2002 // Workers’ compensation, affected both by the capacity shortage across commercial lines after Sept. 11 and ever-increasing health insurance costs, remains an extremely difficult cover to place, and is likely to stay...
AXIS Specialty Announces Strong Q3 Results
Oct 25 2002 // AXIS Specialty Limited, one of the largest of Bermuda’s new insurers, announced that it produced $92.1 million in net income for the third quarter and $153.8 million for the nine months ended September 30. The...
State Auto Financial Q3 Net Falls, Despite 57.6% Rise in Operating Revenue
Oct 25 2002 // Ohio’s State Auto Financial Corporation (STFC) reported third quarter net earnings of $5,885,000, a decrease of between 3 and 5 cents per share. “Net reported earnings per share were $0.15, basic and diluted,...
Cincinnati Financial Posts Strong Q3 Gains
Oct 25 2002 // Cincinnati Financial Corporation reported that its net operating income, which excludes realized capital gains and losses, was $83 million, or 51 cents per diluted share, for this year’s third quarter versus $38...
Crawford Reports Drop in Income, Revenues
Oct 24 2002 // Atlanta-based Crawford & Company reported lower revenues and income for both the third quarter and nine months ended September 30, 2002, compared with the same periods the previous year. Third quarter 2002 revenues...
ISO Estimates Insurers’ 3rdQ Catastrophe Losses Reach $675M
Oct 24 2002 // Insurers are expected to pay $675 million to homeowners and businesses for insured-property losses from six catastrophic events in the third quarter of this year, according to preliminary estimates by the Insurance...
