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In This List

Earnings roundup: Assured Guaranty, AIG, Manulife earnings up YOY in Q2

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did


Earnings roundup: Assured Guaranty, AIG, Manulife earnings up YOY in Q2

With earnings season in gear, S&P Global Market Intelligence presents a snapshot of recently reported financial results for companies in the insurance space.

Financial guaranty

Assured Guaranty Ltd. booked second-quarter operating income of $141 million, or $1.38 per share, up from $74 million, or 66 cents per share, in the year-ago quarter.

Net income amounted to $142 million, or $1.39 per share, versus $75 million, or 67 cents per share, in the prior-year period.

Life and health

Manulife Financial Corp. reported second-quarter net income attributed to shareholders of C$1.48 billion, or 73 Canadian cents per common share, up from C$1.26 billion, or 61 cents per common share, in the year-ago period.

Core earnings grew year over year to C$1.45 billion, or 72 cents per common share, compared with C$1.43 billion, or 70 cents per common share, in the year-ago quarter.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 71 cents.

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Legal & General Group PLC reported first-half profit after tax attributable to equity holders of £874 million, up year over year from £771 million.

EPS for the period came in at 14.74 pence, compared to 13.00 pence in the year-ago period. Return on equity fell to 20.2% from 20.3%.

The group's operating profit rose to £1.01 billion from £909 million a year earlier.

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Primerica Inc. booked second-quarter adjusted operating income before income taxes of $123.9 million, or $2.21 per share, an increase from $112.8 million, or $1.93 per share, in the prior-year quarter.

Net income for the period was $97.4 million, or $2.28 per share, versus $86.7 million, or $1.95 per share, in the year-ago quarter.

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National Western Life Group Inc.'s second-quarter earnings from operations, excluding net realized gains and losses on investments, amounted to $34.0 million, or $9.62 per class A share, up from $30.3 million, or $8.58 per class A share, in the prior-year period.

Net earnings attributable to class A shares were $32.7 million, or $9.53 per share, versus $31.5 million, or $9.18 per share, in the 2018 second quarter.

Multiline

Ageas SA/NV's second-quarter net result rose to €354.6 million from €193.5 million in the prior-year period.

Property and casualty

American International Group Inc. posted second-quarter after-tax adjusted income of $1.27 billion, or $1.43 per share, compared with $961 million, or $1.05 per share, the previous year.

Net income was $1.10 billion, or $1.24 per share, versus $937 million, or $1.02 per share, in the prior-year period.

The S&P Global Market Intelligence consensus estimate for normalized EPS for the period was $1.16.

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MS&AD Insurance Group Holdings Inc.'s net income attributable to owners of the parent for the quarter ended June 30 rose 14.5% to ¥95.99 billion from ¥83.86 billion a year ago.

EPS for the fiscal first quarter increased year over year to ¥164.58 from ¥141.69.

Ordinary profit dropped to ¥117.92 billion from ¥125.40 billion, while ordinary income increased to ¥1.498 trillion from ¥1.462 trillion.

As of Aug. 6, US$1 was equivalent to ¥106.34.

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Insurance Australia Group Ltd.'s full-year 2019 net profit after tax rose 16.6% to A$1.08 billion from A$923 million year over year.

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Liberty Mutual Holding Co. Inc.'s second-quarter net income attributable to the company fell to $399 million from $981 million in the year-ago period.

Consolidated net income from continuing operations for the quarter came in at $399 million, down from $509 million in the prior-year period.

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ProAssurance Corp. recorded second-quarter net income of $11.5 million, or 21 cents per share, down from $28.4 million, or 53 cents per share, in the second quarter of 2018.

Non-GAAP operating income came in at $4.1 million, or 8 cents per share, compared with $26.0 million, or 48 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the period was 15 cents.

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United Fire Group Inc. logged a second-quarter adjusted operating loss of $14.9 million, or a loss of 59 cents per share, compared with an adjusted operating loss of $868,000, or a loss of 3 cents per share, in the prior-year quarter.

The net loss was $4.2 million, or a loss of 17 cents per share, compared with net income of $157,000, or 1 cent per share, in the year-ago period.

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Sirius International Insurance Group Ltd. booked second-quarter net income attributable to common shareholders of $7 million, or 5 cents per share, down from $98 million, or 78 cents per share, in the year-ago period.

The operating loss attributable to common shareholders for the quarter was $19 million, versus an operating income attributable to common shareholders of $41 million, in the prior-year quarter.

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Third Point Reinsurance Ltd. reported second-quarter net income available to common shareholders of $53.1 million, or 57 cents per share, up from $19.6 million, or 19 cents per share, in the year-ago quarter.

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Global Indemnity Ltd. logged second-quarter net income of $14.7 million, or $1.02 per share, an increase from $7.2 million, or 50 cents per share, in the prior-year quarter.

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NI Holdings Inc. posted second-quarter net income attributable to the company of $2.5 million, up from $226,000 in the year-ago quarter.

Basic EPS for the quarter was 11 cents, up from 1 cent in the prior-year period.

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Hallmark Financial Services Inc.'s second-quarter operating earnings increased to $7.6 million, or 42 cents per share, from $4.7 million, or 26 cents per share, in the prior-year period.

Net income for the quarter was $13.0 million, or 71 cents per share, up from $5.1 million, or 28 cents per share, in the second quarter of 2018.

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Protective Insurance Corp. recorded second-quarter net income of $1.5 million, or 11 cents per share, down from $2.5 million, or 17 cents per share, in the year-ago quarter.

Reinsurance

Munich Re logged second-quarter consolidated result attributable to equity holders of €993 million, up from €724 million a year ago.

EPS climbed year over year to €6.88 from €4.84.