Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
SAFECO Tallies 1stQ Profits on Investments
Apr 23 2002 // Seattle-based SAFECO has reported a quarterly profit, noting gains from selling investments, increased life insurance earnings, and having to pay out less in storm claims through the winter. SAFECO noted first-quarter net...
Philadelphia Consolidated Posts 38% Q1 Net Income Gain to $10.7 Million
Apr 22 2002 // Philadelphia Consolidated Holding Corp. of Bala Cynwyd Pa. reported that its net income for the first quarter ended March 31, 2002 increased 38.4% to $10.7 million from $7.7 million for the same period in 2001. It also...
Allianz Finalizes 2001 Net Profit at $1.42 Billion, Defends Dresdner Acquisition
Apr 19 2002 // Germany’s Allianz Group had an off year in 2001, along with most of the rest of the insurance industry. The company announced its definitive results yesterday, showing a net profit of €1.6 billion ($1.42...
P/C Industry Suffered First-Ever Net Loss in 2001
Apr 19 2002 // The events of Sept. 11 and declines in interest rates and the stock market all contributed to make 2001 the worst year ever for the property/casualty industry, according to just released numbers from Insurance Services...
Hiscox Posts $46 Million Loss; Places $33 Million in Cat Bonds
Apr 16 2002 // The U.K.’s Hiscox Group, which operates as a retail insurer as well as running Lloyd’s Syndicate 33, reported a £32.5 ($46.5 million) loss for 2001, largely as a result of claims related to the attacks on...
FREMONT GENERAL SEES PROFIT, CONSIDERS SALE
Apr 15 2002 // California-based financial services company Fremont General Corp. has reported a fourth-quarter profit, moving from a loss from a year earlier, when it recorded large losses in its workers’ compensation insurance...
2001: The Insurance Industry’s ‘Annus Horribilis’
Apr 15 2002 // In future years property/casualty insurers will no doubt look back on the year 2001 and shudder. Right now they’re too busy coping with the reality of the industry’s “annus horribilis,” to borrow...
Commentary: Credit Histories Benefit Consumers
Apr 15 2002 // It is time to set the record straight and dispel some of the myths being advanced in Texas and across the country about why insurance companies use credit history. The truth is that credit history is a valid predictor of...
Aon Addresses Tornado/Hail Loss
Apr 15 2002 // Aon announced that its reinsurance services unit has assembled substantial capacity for clients that are exposed to potentially significant tornado/hail losses. The capacity is available on either an indemnity or index...
The Illusion of Protection: Terrorism, War and Workers’ Compensation
Apr 15 2002 // The impact of the terrorist attacks of September 11th on the property/casualty insurance industry can hardly be overstated—the largest catastrophe loss ever; an unprecedented convergence of coverages, creating a...
The Midland Co. Reports Record High Operating Earnings
Apr 12 2002 // The Midland Company, a specialty insurance products and services provider headquartered in Cincinnati, Ohio, reported that net operating income (net income excluding capital gains/losses and the effects of any changes in...
Lloyd’s Change to Annual Accounting Creates $4.45 Billion Loss Estimate for 2001
Apr 11 2002 // Lloyd’s decision to begin reporting the profits and losses of its syndicates on an annual basis, rather than over three years, produced some costly results, with last year’s losses estimated at £3.11...
Swiss Re Confirms $98 Million Loss for 2001
Apr 10 2002 // Swiss Re, the world’s second largest reinsurer, confirmed that it suffered a net loss of CHF 165 million ($98.64 million) in 2001, compared to 2000 net income of CHF 2.966 billion ($1.77 billion). The company...
Highlands Group Reports $277 Million Q4 Loss, Plans Reorganization
Apr 4 2002 // The Highlands Insurance Group reported a net loss of $276.9 million ($21.07 per share) for the fourth quarter of 2001, compared with a net loss of $115.1 million ($8.70 per share) in the fourth quarter of 2000. The results...
EQECAT Developing Compensation Loss Cost Models for WCIRB
Apr 4 2002 // EQECAT Inc. has been awarded a contract to develop the earthquake loss costs for the Workers’ Compensation Insurance Rating Bureau (WCIRB) of California. The loss costs are to be incorporated into their rate filing...
Danielson Holding Corp. Reports $14.33M Loss on Revenues of $94.1M
Apr 3 2002 // Danielson Holding Corporation reported a loss of $14.33 million ($0.74 per diluted share) on revenues of $94.1 million for the year ended Dec. 31, 2001, compared with income of $1.03 million ($0.05 per diluted share) on...
Allcity Posts $18 Million Loss for 2001
Apr 2 2002 // Brooklyn-based Allcity Insurance Company reported a net loss of $18,048,000 or $2.55 per share for the year ended December 31, 2001 compared to a net loss of $30,800,000 or $4.35 per share for the comparable 2000...
Aon Unveils Tornado/Hail Loss Solutions
Apr 2 2002 // Aon announced that its reinsurance services unit has assembled substantial capacity for clients that are exposed to potentially significant tornado/hail losses. The capacity is available on either an indemnity or index...
Travelers Announces $5B in IPO Earnings
Mar 28 2002 // Travelers’ Property Casualty Corp. announced the $5 billion earnings as a result of its record-breaking IPO and bond sales offered last week, the largest of any U.S. insurer, according to Reuters Securities. The...
U.K.’s Claims Direct Reports Loss
Mar 28 2002 // Claims Direct, the U.K. company which provides insurance settlement services, reported that it expects a loss of £22 million ($31.3 million) for its fiscal year ending March 31. The company, which had a great deal of...
