Insurers cutting profit estimates
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The string of hurricanes that struck Florida and other states has begun to wash away profit projections made by some Cincinnati-based insurance companies.
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A move by insurers to stop compensating people with a condition showing asbestos exposure fails.
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Bradford & Bingley reports a sharp fall in profits after writing down the value of its sub-prime assets.
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The 2004 hurricane season is expected to be costly for insurers, with early estimates of $8bn (Â£4.5bn) of losses from just one of the storms that have hit the United States this year.
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AUSTIN - Texas&#39; largest medical liability insurance provider said Monday it will cut its rates by 5 percent starting in January.
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Marsh & McLennan Cos. MMC.N, the  insurance broker at the center of a bid-rigging probe, on  Tuesday said it will lay off 3,000 employees, or 5 percent of  its work force, and reported third-quarter profit tumbled 94  percent.
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After increasing at double-digit rates for most of the last five years, corporate profits are about to decline for the second straight quarter, if analysts are correct.
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Allstate Corp.  the second largest home and auto insurer in the United States, on Wednesday said profits fell largely because of hurricane related damage claims.
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Saying that weakness in the housing  market was taking a toll on its swimming pool equipment  business, diversified manufacturer Pentair Inc.  on  Tuesday cut its earnings outlook for the third quarter and full  year, and said it was taking steps to cut costs.
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Top health insurer WellPoint Inc.  WLP.N on Monday posted lower quarterly profit on special  items and charges linked to its recent merger with Anthem,  sending shares of most HMOs lower.
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Sony Corp. on Thursday cut its operating  profit estimate for this business year by 31 percent, citing  sharply falling prices of televisions, DVD recorders and other  key products, and weak demand for chips.
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The commercial insurer said profit declined on lower premiums and investment income, but the results still beat Wall Street expectations.
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A slowing  economy may be a drag on corporate profits, some analysts say.
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Giant life insurers MetLife Inc and Prudential Financial Inc  said on Wednesday that profits fell in the fourth quarter, hurt by investment losses and, in the former's case, comparison with a large investment gain a year ago.
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Wine and spirits company Constellation Brands Inc.  said on Thursday that quarterly profit fell sharply, hurt by a plan to cut the amount of wine it ships to U.S. distributors and lower results from its British business.
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Marsh &amp; McLennan, the broker at the centre of America&#39;s insurance scandal, yesterday said it was cutting 3,000 jobs worldwide, including about 280 in the UK, as it reported a 94pc slump in third-quarter profits.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) , which has been at the center of a bid-rigging scandal rocking the insurance industry, on Tuesday said it will cut 3,000