With earnings season in gear, S&P Global Market Intelligence presents a snapshot of recently reported financial results for companies in the insurance space.
Life and health
Ping An Insurance (Group) Co. of China Ltd.'s first-half consolidated net profit attributable to shareholders of the parent company was up by 68.1% year over year to 97.68 billion Chinese yuan.
The life and health insurance businesses' operating profit, after tax, increased by 36.1% to 48.43 billion yuan. Ping An Property & Casualty's operating profit grew 69.5% year over year to 10.04 billion yuan.
As of Aug. 14, US$1 was equivalent to 7.02 Chinese yuan.
NN Group NV logged a 30.7% year-over-year increase in second-quarter net result to €606 million from €463 million.
EPS for the quarter increased to €1.78 from the year-ago €1.34. Net operating return on equity was 8.8%, compared to 11.7% a year earlier.
The operating result declined to €445 million from €508 million a year ago.
Samsung Life Insurance Co. Ltd. recorded second-quarter net profit of 309 billion South Korean won, slightly up from 305 billion won in the prior-year quarter.
Insurance profit for the quarter decreased to 337 billion won from 358 billion won a year earlier due to a deterioration in loss rate.
As of Aug. 14, US$1 was equivalent to 1,217.04 South Korean won.
Aegon NV reported first-half net income of €618 million, up 26% from €491 million a year ago, reflecting realized gains and lower other charges.
Net underlying earnings dipped 4% year over year to €833 million from €863 million as a result of outflows in fee businesses in the U.S. and increased investments to support growth.
Syncora Holdings Ltd.'s first-half operating income came in at $42.0 million, or 48 cents per share, compared with an operating loss of $45.3 million, or a loss of 52 cents per share, in the year-ago period.
The company reported first-half net income attributable to controlling interest of $37.4 million, or a loss of 41 cents per share, versus a net loss attributable to controlling interest of $107.5 million, or a loss of $1.24 per share, in the first half of 2018.
Achmea BV booked net result of €234 million in the first half, compared with €133 million in the first half of 2018.
The company's result before tax was €284 million, up from €200 million in the prior-year period.
Total income amounted to €13.41 billion, versus €10.86 billion a year ago.
General Insurance Corp. of India posted profit after tax of 1.08 billion Indian rupees for the quarter ended June 30, compared with 7.71 billion rupees in the prior-year quarter.
EPS after extraordinary items was 0.62 rupees for the quarter, compared with 4.40 rupees in the prior-year period.
As of Aug. 14, US$1 was equivalent to 71.53 Indian rupees.