Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Citigroup Profits Rise 11 Percent
Jan 17 2001 // Citigroup Inc.’s fourth-quarter profits rose 11 percent, helped by solid growth in its consumer banking business. The company earned $3.33 billion or 65 cents a share, in the quarter, compared with $3 billion, or 58...
It’s a Surety Thing: Companies Are On the Move in the Surety Market
Jan 15 2001 // For the past decade, the surety market has been profitable and today, competition remains strong. Underwriters come and go while the economy plays a major role in this segment of the industry. Even with big losses in 1999,...
Safeco to Announce Fourth Quarter Loss
Jan 12 2001 // Safeco Corp. expects to report an operating loss of 5 cents to 10 cents per share for the fourth quarter, falling well short of analysts’ predictions of a profit of 19 cents per share. The Seattle company’s...
RLI Reports Modest Growth for 2000; Underwriting Results Mixed
Jan 11 2001 // RLI Corp. reported fourth quarter net operating earnings of $6.3 million ($.63 per diluted share), a 15 percent per-share decline over the $7.4 million ($.74 per share) result from the same quarter last year. Year-end...
Equitable Still Seeking a Buyer, Aims To Cap Losses
Jan 8 2001 // Struggling U.K. Mutual insurer Equitable Life has reportedly been having talks with pension fund managers aimed at capping the expected losses from guaranteed annuity payments it has been ordered to make. The talks are...
Missouri Property, Liability Insurance Profitable
Jan 8 2001 // Virtually all lines of Missouri property and casualty insurance, including liability coverage, remained profitable in 1999, although margins fell slightly from the previous year, based on data from the National Association...
Welcome to our First Ever
Jan 8 2001 // The demarcation between years always seems to take on a contemplative aspect. We look back to where we’ve been, and then look forward to weigh our expectations. Will the market continue to harden? Will the dot-coms...
Calif. Insurance Executive Leaves Firm for Non-Profit Sector
Dec 29 2000 // Greg Gallion, current vice president of American Title Co. in Bakersfield, Calif. will become chief executive of the nonprofit blood bank Houchin Blood Services where he has served as a board member for four...
Munich Re Survey Shows Natural Disasters Increase – Less Losses
Dec 29 2000 // Munich Re has released a survey of the natural disasters which occurred in the year 2000, citing over 850 worldwide catastrophes, 100 more than last year, but finds that the economic consequences were less, as many of them...
InsWeb Reports Solid Fourth Quarter Results
Dec 21 2000 // InsWeb, a provider of online insurance services, raised its revenue outlook to approximately $5 million for the fourth quarter of fiscal 2000. “InsWeb is enjoying a solid quarter, despite a traditionally slower...
More Floods Hit U.K., as Insurers Assess October Losses
Dec 15 2000 // Even as battered Britain was cleaning up the damages caused by severe floods in October, a new combination of heavy rain and high tides threatened Wales and the Southwest; the Severn river crested at over 14 1/2 feet,...
Cairnstone Re Executives Project Double-Digit Increase for Medical Stop Loss Coverage
Dec 14 2000 // Rates for employer stop loss medical insurance will rise significantly again next year as the health reinsurance marketplace continues to stabilize, according to executives with Cairnstone Re, an underwriter and medical...
Chinese Insurers Look To Public Offerings, as Earnings Increase
Dec 13 2000 // While foreign companies line up to enter the Chinese insurance market, China’s domestic insurers are doing so well that they’re looking to public offerings to raise additional funds. According to a report from...
Bermuda Tax Proposals: ‘Closing a Loophole’ or ‘ Pork Barrel Polics”
Dec 11 2000 // The taxation of foreign insurers, reinsurers, captives banks and financial service providers, involves some very complex international issues, heavily charged with “political considerations.” HR 4192, or the...
Premium Income Rises at Allianz – Eyes U.K. Acquisition
Nov 27 2000 // German insurance giant Allianz AG announced that premium income for the first 9 months of the year reached a record €50.9 billion ($42.675 billion) a 15.5 percent rise over 1999. Property and casualty operations...
Buse Named President of IIAA’s For-Profit Subsidiaries
Nov 27 2000 // Paul A. Buse has been named president of the Independent Insurance Agents of America’s for-profit subsidiaries, IIAA Membership Services Inc. and IIAA Agency Administrative Services Inc. As president, Buse will...
Equipment Breakdown Coverage: Not Your Father’s Boiler & Machinery Insurance
Nov 27 2000 // Equipment breakdown coverage: it’s the modern-day descendant of what has been traditionally referred to as boiler and machinery insurance. And today’s businesses need it just as much as they did in the old...
Fremont Cuts P/C Staff, Focuses on Thrift & Loan Profits
Nov 27 2000 // As part of a cost-cutting initiative, Santa Monica, Calif.-based Fremont General Corp. has reduced the production and claim service offices of Fremont Compensation Insurance Group from 41 to 24. Of these remaining offices...
ING : Profits Up – Barings Out
Nov 20 2000 // At the same time that Dutch financial services giant ING announced increased profits for the first 9 months of the year, it also confirmed widespread rumors that it was “reviewing the future positioning of its...
Liability Coverage for Breaches of Contract
Nov 20 2000 // Knowledgeable people think that liability insurance is for accidents. Standardized liability insurance policies-homeowners, auto and commercial general liability-are worded so that the idea of an accident is at the heart...
