Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Moody’s Estimates Lloyd’s Losses at £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 £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...
Fiduciary, Non-Profit Liability
Sep 16 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...
Eastern European Floods Cause Widespread Damage
Sep 16 2002 // The floods that devastated Eastern Europe throughout August may have been caused by global warming, or by one of the 100-200 year storms probability theory predicts, or maybe just bad luck. They were in any case, the most...
£150 Million Preliminary Estimate of Insured Losses in French Floods
Sep 12 2002 // The cost to France’s insurance industry from the severe flooding in three southeastern departments (See Insurance Journal Website Sept.10) will be around £150 million ($147 million) according to preliminary...
PartnerRe, Converium Estimate E. European Flood Losses
Sep 9 2002 // Bermuda’s PartnerRe upped its earlier loss estimate from claims due to the recent floods in Eastern Europe from around $100 million to between $110 and $120 million. Swiss-based Converium indicated its pretax losses...
Tampa’s Stadium Sacked with Losses
Sep 6 2002 // The Tampa Bay Buccaneers’ home arena, Raymond James Stadium, lost its insurance, and according to Associated Press reports, it will likely have to pay much more for new coverage due to heightened terrorism concerns...
Docucorp Has Record 4thQ and Year
Sep 6 2002 // Docucorp(R) International, a Dallas-based provider of enterprise information solutions to insurance and other industries, announced record revenues of $72.6 million and record net income of $6.0 million for fiscal year...
Zurich Posts Huge 1st Half Net Loss, Slightly Over $2 Billion
Sep 5 2002 // The equity storms that have battered the earnings of many of Europe’s biggest insurers in the first half of 2002 became a class 5 hurricane for the Anglo-Swiss Group Zurich Financial Services (ZFS) which posted a net...
AIR Releases Terrorism Loss Estimation Model
Sep 4 2002 // Boston-based AIR Worldwide, which is now a subsidiary group within the ISO, announced the release of the “AIR Terrorism Loss Estimation Model.” “The new catastrophe model, the first commercially available...
SCOR 1st Half Net Profit Down 58% to €21 Million – In Talks with Gerling
Sep 4 2002 // SCOR, France’s largest reinsurer, reported that its 1st half net income had dropped 58 percent to € 21 million* from € 50 million* in the same period last year, due to the now familiar problem of declining equity...
AXA Confirms 17% Increase in 1st Half Operating Earnings to €1.02 Billion
Sep 3 2002 // France’s AXA Group confirmed its earlier estimates (See IJ Website Aug. 21) by officially posting 17 percent growth in operating earnings to €1.022 ($1 billion) for the period ended June 30, compared to €876...
Sept. 11 Revisited: The Future of the Industry
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
WTC Claims Dispute, $7.1 Billion at Stake
Sep 2 2002 // Despite recent court ordered settlement procedures, the legal dispute pitting Swiss Re and 21 other insurance companies against Silverstein Properties, the master leaseholder on the twin towers of the World Trade Center,...
