Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
AXA Posts 28.8 Percent Gain in Gross Revenue for 1st Half
Sep 21 2000 // Following a strong performance by its U.S. Financial Unit, AXA Financial, the French Group posted a net increase of 28.8 percent for its consolidated revenues to € 41 billion ($34.85 billion) for the first half of...
Playing the Green: Insuring Golf Courses
Sep 18 2000 // It’s a well known fact in the insurance industry that we are also, in large part, the golf industry. Nine times out of 10, a golf tournament will accompany a convention. Want to raise money for charity? Sponsor a...
Best Drops Amwest Group Rating to ‘B’
Sep 18 2000 // On Aug. 28, 2000, the financial strength rating of Amwest Group was downgraded from “A-” (Excellent) to “B” (Fair) by A.M. Best Co. The downgrade, applicable to Amwest Surety Insurance Company and...
Inspire: 2001 Revenues Could Be Affected By Pulled Contracts
Sep 15 2000 // INSpire Insurance Solutions Inc. may see its 2001 revenues cut due to the actions of troubled insurer Millers American Group. Millers is pulling out of some contracts and doing more business in-house as it plans to sell...
Allianz Capital Sales Boost 1st Half Profits – Targets U.S. Fund Manager
Sep 14 2000 // Allianz AG posted a 30 percent rise in 1st half profits to €1.6 billion ($1.38 billion) from €1.2 billion ($1.03 billion) last year. The gains, which exceeded analysts expectations, were due primarily to the disposals...
Commentary on First Half 2000 Results
Sep 14 2000 // The property/casualty insurance industry reported a statutory rate of return of 5.6 percent (on an annualized basis) during the first half of 2000, down from 8.2 percent during the first half of 1999 and 6.6 percent for...
Best Drops Amwest Group Rating to ‘B’
Sep 14 2000 // Amwest Group’s parent is the publicly-traded insurance holding company, Calabasas, Calif.-based Amwest Insurance Group Inc., primarily an underwriter of surety bonds which also writes property/casualty insurance...
P/C Industry’s First-Half Net Income Plunges; Combined Ratio at 109.2 for 2000
Sep 14 2000 // The U.S. property/casualty industry’s net income after taxes dropped to $10 billion in this year’s first half, down 32.5 percent from $14.9 billion a year ago. The industry’s surplus fell $7.6 billion, or...
Swiss Re Posts “Surprise” 1st Half Profit
Sep 13 2000 // Swiss Re posted a surprising 28 percent gain in net profits of SwFr 3.26 billion ($1.85 billion) for the 1st half of the year compared to SwFr 2.56 billion ($1.45 billion) in 1999. Although gross premiums written did rise...
New Catastrophe Model Estimates Annual Losses in Excess of $5 Billion
Sep 8 2000 // Applied Insurance Research announced the release of a new severe thunderstorm model for the United States. The model incorporates sophisticated statistical techniques and the most current information about thunderstorm...
NAPSLO Survey Shows Net Revenues for MGAs, Brokers Grow
Sep 4 2000 // Average pretax profit and net retained revenues for MGAs and brokers increased in 1999, according to the results of the Income & Expense Survey recently completed for the National Association of Professional Surplus...
L/H PROFITS DROP $203 MILLION
Sep 4 2000 // The nation’s life and health insurers experienced a $203 million, or 1.6 percent, decline in operating profits during the first three months of 2000, as compared to the year-earlier period, according to a study by...
SCOR Reports Lower 1st Half Earnings
Sep 1 2000 // French reinsurer SCOR announced first half results which were somewhat lower than anticipated. Net earnings dropped from 1999’s €70 million ($62.3 million) to €36 million ($32 million) for the period. “The...
ING Posts 28 Percent Profit Gain
Aug 25 2000 // Dutch financial services giant ING posted a hefty 28 percent rise in first half net profits on Thursday, and raised its earnings forecast for the year 2000 by 20 percent from 15 percent. The earnings increase will reflect...
Moody’s Increases Estimates of Lloyd’s Losses
Aug 22 2000 // Moody’s Investors Service issued a new statement on Monday which forecast increased losses at Lloyd’s of as much as £3 billion ($4.5 billion) for the last three years. Moody’s previous loss estimates,...
Life, Health Insurers’ Operating Profits Drop; Capital Gains Rise
Aug 22 2000 // The nation’s life and health insurers experienced a $203 million, or 1.6 percent, decline in operating profits during the first three months of 2000, as compared to the year-earlier period, according to a study by...
Fremont General’s 2Q Combined Ratio Hits 259 Percent
Aug 21 2000 // Fremont General Corporation, the nationwide insurance and financial services holding company, posted a combined ratio for second quarter 2000 of 259.0 percent, compared to 95.7 percent reported for second quarter...
RLI Releases 2Q 2000 Earnings
Aug 18 2000 // RLI released a second quarter earning report showing net operating earnings of $6.9 million, or $.70 per diluted share. This compares to the $7.6 million, $.74 per share, result from the same period in 1999. Other results...
SCPIE 2Q, Six-Months Results Reflect Increase in Premiums
Aug 18 2000 // SCPIE Holdings Inc. reported results for the second quarter and six months ended June 30, 2000. For the second quarter, operating income per share was 47 cents compared to operating income per share of 66 cents in the same...
An Estimated $100 Million in Insured Losses Ignited by Wildfires
Aug 15 2000 // Nearly 65,000 wildfires have burned more than 4.3 million acres this year, causing an estimated $100 million in insured property damage, according to the Insurance Information Institute (I.I.I.). Currently, 82 wildfires...
