Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Midland Co. Reports Lower Operating Income
Feb 12 2002 // Citing higher-than-normal fire losses, ongoing challenges in its manufactured housing sector, and higher non-catastrophe weather related losses, Cincinnati-based specialty insurance products and services provider, The...
CNA Surety Announces 4Q Decrease in Net Income
Feb 12 2002 // CNA Surety Corporation reported that net income for the fourth quarter of 2001 decreased to $0.6 million, or $0.01 per share, from $12.0 million, or $0.28 per share, for the same period in 2000. Operating earnings, after...
Commercial Auto Agents: Between a Rock and a Hard Market
Feb 11 2002 // The cyclical ups and downs of the multisegmented arena referred to collectively as commercial auto are nothing new. Though the years referred to as “soft” and “hard” vary in both length and...
Before Diving in, Agents Attracted by Captive Profits Must Analyze Challenges
Feb 11 2002 // Thinking of forming an agency captive? An agent-owned captive insurance company involves an agency capitalizing either a domestic insurance company or an offshore insurance company. Richard Turner, president of...
Building Profitability into the Commercial Auto Market
Feb 11 2002 // Like most property and casualty insurance lines, the commercial auto insurance market has witnessed rate increases over the past year and expects to see more. And, as in other lines, underwriters are scrutinizing accounts...
21st Century Insurance Group Reports 4Q Net Loss of $41M
Feb 8 2002 // California-based 21st Century Insurance Group reported a net loss for the year ended Dec. 31, 2001, of $27.6 million, or $0.32 diluted loss per share, compared to net income of $12.9 million, or $0.15 diluted earnings per...
PMA Capital Posts Profit, Despite Q4 Dip
Feb 7 2002 // Philadelphia-based PMA Capital Corporation announced that its net after-tax operating income in the fourth quarter was $5.8 million, or $0.25 per diluted share, compared with $7.0 million, or $0.32 per diluted share, for...
RSA Ups Loss Reserves, Warns on Earnings
Feb 6 2002 // The U.K.’s Royal & Sun Alliance announced increases in its loss reserves totaling £401 million ($571 million), principally from rising estimates of future asbestos claims, which more than doubled, and...
Insurer W.R. Berkley to Report 4Q Loss
Feb 6 2002 // According to Reuters, W.R. Berkley Corp. reported Feb. 5 that it will claim a loss in the fourth quarter as it takes charges to add reserves related to loss-making contracts, along with its exposure to both Enron Corp. and...
Donegal Expects Q4 Loss
Feb 5 2002 // Pennsylvania-based Donegal Group Inc. announced that it expects a fourth quarter operating loss of between $.03 and $.08 per share on a diluted basis resulting in operating income for the full-year 2001 of between $.69 and...
The Hartford Reports 4% Increase in 4Q
Feb 5 2002 // The Hartford Financial Services Group reported fourth quarter operating earnings of $1.06 per share versus $1.09 per share in the fourth quarter of 2000. Net earnings per share were $0.58 versus $1.18 in the fourth quarter...
Bill Restricting Credit-Based Scores Would Cause ‘Staggering’ Premium Hike
Feb 1 2002 // According to the National Association of Independent Insurers (NAII), pricing restrictions in pending legislation on insurers’ use of credit-based insurance scores would require low-risk consumers to pay...
Marsh and McLennan Reports 4thQ 2001
Jan 31 2002 // Marsh & McLennan Cos. Inc. announced its fourth-quarter 2001 profit fell nearly 50 percent, impacted by several one-time items. Reuters reported the New York-based company owns mutual fund firm Putnam Investments,...
U.K. Insurers Fear Big Losses as Storm Ravages Country
Jan 30 2002 // A violent storm sweeping in off the North Sea over the weekend has left a trail of devastation in Northern England, Wales and Scotland. With wind gusts reaching 120 mph. The storm caused the deaths of 7 persons, halted...
Max Re Posts 166% Increase in Q4 Net Income
Jan 29 2002 // Bermuda-based Max Re Capital Ltd. reported net income for the three months ended December 31, 2001 of $10.1 million, or $0.26 per share, compared with net income of $3.8 million, or $0.14 per share for the same period last...
XL Takes Q4 Charges on Enron, Air Crash, Other Losses
Jan 29 2002 // XL Capital Ltd announced that its fourth quarter results will include charges for increased prior period casualty reinsurance loss reserves and several large loss events, mainly its exposure to Enron’s bankruptcy,...
CNA Financial Announces Preliminary 4thQ and Year-End Results
Jan 28 2002 // CNA Financial Corporation announced that it expects a 2001 fourth-quarter net loss between $20 million and $35 million, compared with net income of $193 million for the same quarter in 2000. Included in the 2001 fourth...
When Good Employees Go Bad: Crime Insurance for Employee Dishonesty & Fraud
Jan 28 2002 // • A California man pled guilty to knowingly receiving, possessing and without authorization appropriating stolen trade secret information belonging to his former employer—specifically, customer and order information in...
Port Authority Revenues Stable Despite 300% Rise in Premiums
Jan 25 2002 // The Port Authority of New York and New Jersey reported $2.7 billion in gross operating revenues for 2001, slightly more than last year, despite a 300 percent increase in its insurance premiums from around $4 million to $16...
RenRe Reports Solid Gains in Q4 Net Income
Jan 25 2002 // Bermuda’s RenaissanceRe continued its steady earnings growth, despite the Sept. 11 attacks, as it posted “a 29% increase in net operating income available to common shareholders for the fourth quarter of 2001,...
