Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allstate Profits Drop; Cat Claims to Blame
Apr 20 2000 // Allstate Corp.’s first-quarter operating profits fell 27 percent, due largely to higher than expected catastrophe claims. The country’s number two property-casualty insurer announced that operating profit,...
Progressive Losses Stack Up
Apr 19 2000 // Progressive Corp.’s first-quarter report shows $47 million in losses, mostly due to payments on claims from U.S. storm damage last year. The Ohio-based insurer reported a net loss of $46.6 million, down from a profit...
Hilb, Rogal and Hamilton Co. First Quarter Results
Apr 19 2000 // Hilb, Rogal and Hamilton Co.’s (HRH) total revenues for the first quarter rose 33.3 percent to $67 million, up from $50.3 million a year ago. The comparison reflects American Phoenix Corp. revenue additions as well...
SAFECO Announces First Quarter Underwriting Loss
Apr 19 2000 // Seattle-based SAFECO Corp. announced that both Property & Casualty and Life & Investments operations performed below expectations during the first quarter. The underwriting loss is expected to be in the...
Citigroup Announces 52 Percent Increase in Profits
Apr 17 2000 // First-quarter 2000 might be the charm for Citigroup Inc., the world’s largest financial services firm. Initial reports indicate a 52 percent rise in first-quarter profits. Most of the gains are due to success in the...
SAFECO First Quarter Profits Unremarkable
Apr 14 2000 // SAFECO Corp. expects first quarter profits to fall far short of Wall Street expectations due to a wide range of factors including inadequate premiums to costly storms in Texas. The Seattle-based company expected to post...
WORKERS’ COMP MARKET OVERVIEW
Apr 3 2000 // CALIFORNIA STILL CRAZY AFTER ALL THESE YEARS By Sky Barnhart “After five years of product being given away, it’s a crazy, crazy market, and it’s put a lot of people on the producers’ side out of...
Australia Juggles Mergers & Disasters
Apr 3 2000 // Driven in part by 1999’s particularly poor results, and perhaps encouraged by the recent mega-merger announcements from Europe (CGU-Norwich Union and Deutsche Bank-Dresdner Bank), Australia’s insurance/...
The Unraveling of Superior National
Mar 30 2000 // Editor’s Note: This article was written by Standard & Poor’s analyst Darin Feldman, and is printed with permission. In its 1998 annual report “Survival of the Fittest,” Superior National...
Loss Forces Re-Australia To Run Off Book
Feb 21 2000 // Large losses have reduced Reinsurance Australia’s capital to the point that it no longer meets the requirements for its Australian reinsurance license, thus forcing the company to formally stop writing new...
AXA Earnings Increase Estimated at 15 Percent
Feb 11 2000 // Even though net income will be reduced by around 100 million Euros ($98 million) caused by the year-end storms which struck France, AXA S.A. announced a significant estimated earnings increase of 15 percent over 1998...
Allianz Estimates Europe Storm Losses at Over $600 Million
Feb 3 2000 // Germany’s Allianz reported that the storms which swept Europe at the end of December had resulted in claims estimated at 625 million Euros ( $612 million). $107 million in claims for property and automobile damages...
Markel Reports Record Earnings
Feb 3 2000 // Markel Corporation announced record earnings from core operations for the year ended December 31, 1999, while net income decreased to $7.20 per diluted share from $10.17 per diluted share in 1998. The decrease in 1999 net...
French Insured Storm Losses Put at $4.4 Billion
Feb 2 2000 // Confirming previous estimates, the Federation Francaise de Societes d’Assurance reported Monday that over 3 million damage claims had been filed as a result of the storms which hit France at the end of December....
XL Capital Announces Impact of European Storm Losses
Feb 2 2000 // XL Capital Ltd. announced today that net operating earnings for the 4th quarter 1999 earnings will be reduced by $125 million, or $0.97 per share, after tax as a result of the impact of losses from two major windstorms...
Non-Profit Nursing Homes Receive TDI Assistance
Feb 2 2000 // Non-profit nursing homes and assisted living facilities in Texas will soon be admitted into the state’s Medical Liability Insurance Underwriting Association for the first time since 1982, with for-profit facilities...
Equitable Still Seeking a Buyer, Aims To Cap Losses
Jan 8 2000 // 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...
