Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
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,...
S&P’s Maintains Negative Outlook for European Reinsurers
Sep 2 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...
SOME COLO. WORKERS’ COMP LOSS COSTS TO DECLINE
Sep 2 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...
A Year Later, Industry Takes Stock of Itself
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,...
AMER. NAT’L LOWERS INCOME REPORT
Sep 2 2002 // Texas-based American National Insurance Company revised its previously reported second quarter 2002 net income from $20,983,000 to $6,075,000. The company stated that the revision resulted from a reclassification between...
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...
