Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
CNA Financial Announces Net Loss for 4Q, Year-End
Feb 15 2002 // CNA Financial Corporation reported a fourth quarter 2001 net loss of $22 million compared with net income of $193 million for the same quarter in 2000. Total net loss for the year ended Dec. 31, 2001 was $1.6 billion...
PXRE Posts Q4 Gains, Net Loss for the Year, Approves Capital Increase
Feb 14 2002 // Bermuda’s PXRE Group Ltd. reported that its net income in the fourth quarter increased 56 percent to $8.342 million from $5.335 million for the same period in 2000. Revenues rose 18 percent to $59.964 million, while...
ACE, XL Report Q4 Earnings, Full Year Results
Feb 13 2002 // Bermuda’s two largest insurers, ACE and XL, both announced disappointing fourth quarter results, with ACE’s net income down around 60 percent to $46.265 million for the period, and XL recording a net loss of...
Willis Reports Record Q4, Full Year Earnings
Feb 13 2002 // Global insurance broker Willis Group Holdings Limited reported record revenue and operating earnings growth for both the fourth quarter and year ended December 31, 2001. “Operating cash earnings for the fourth...
Zenith Reports Year-End Net Loss of $23.8M
Feb 13 2002 // California-based Zenith National Insurance Corp. reported a net loss for the year ended Dec. 31, 2001 of $23.8 million, or $1.35 per share, compared to a net loss for the year ended Dec. 31, 2000 of $46.8 million, or $2.72...
PartnerRe Posts Strong Growth, But WTC Attacks, Enron Hit Earnings
Feb 12 2002 // Bermuda’s PartnerRe Ltd. reported results for the fourth quarter and full year which reflected the tumult felt by many insurers in 2001. While net premiums written rose 30 percent to $1.825 billion, the company...
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...
