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Earnings roundup: Athene, CNA Financial log higher earnings YOY in Q2

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Earnings roundup: Athene, CNA Financial log higher earnings 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.

Life and health

Athene Holding Ltd. reported second-quarter adjusted operating income of $370 million, or $1.95 per share, up from $288 million, or $1.47 per share, in the second quarter of 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $1.81.

Net income was $720 million, or $3.75 per class A share, compared with $257 million, or $1.30 per class A share, in the year-ago quarter.

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Brighthouse Financial Inc. logged second-quarter adjusted earnings of $254 million, or $2.19 per share, compared with $153 million, or $1.27 per share, in the prior-year period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $2.27

The company recorded net income available to shareholders of $377 million, or $3.27 per share, for the quarter, compared with a net loss available to shareholders of $239 million, or a loss of $2.01 per share, in the prior-year period.

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American Equity Investment Life Holding Co. reported second-quarter non-GAAP operating income of $99.6 million, or $1.09 per common share, compared with $86.6 million, or 95 cents per common share, in the second quarter of 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 95 cents.

The company posted second-quarter net income of $18.6 million, or 20 cents per common share, down from $93.9 million, or $1.03 per common share, in the year-ago quarter.

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Health Insurance Innovations Inc. posted second-quarter adjusted net income of $9.9 million, or 71 cents per share, up from $8.9 million, or 53 cents per share, in the prior-year quarter.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 40 cents.

Net income attributable to the company was $2.3 million, or 20 cents per share, for the period, compared with $1.8 million, or 14 cents per share, in the year-ago period.

The company raised its full-year 2019 adjusted net income per share guidance to a range of $4.00 to $4.25 from the previously expected range of $3.80 to $4.05.

The S&P Global Market Intelligence consensus normalized EPS estimate for the year is $3.93.

Multiline

Horace Mann Educators Corp. reported second-quarter core earnings of $7.1 million, or 17 cents per share, compared with $5.3 million, or 13 cents per share, in the prior-year quarter.

Second-quarter net income was $93.8 million, or $2.24 per share, compared with $5.9 million, or 14 cents per share, in the year-ago period.

Property and casualty

CNA Financial Corp. reported second-quarter net income of $278 million, or $1.02 per share, compared with $270 million, or 99 cents per share, in the year-ago quarter.

Core income for the period was $294 million, or $1.08 per share, up from $270 million, or 99 cents per share, in the prior-year quarter.

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Kemper Corp. recorded second-quarter net income of $122.1 million, or $1.84 per share, up from $37.6 million, or 73 cents per share, in the second quarter of 2018.

The company also reported adjusted consolidated net operating income of $91.5 million, or $1.38 per share, compared with $36.5 million, or 70 cents per share, in the year-ago quarter.

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Argo Group International Holdings Ltd. reported second-quarter adjusted operating income of $16.8 million, or 48 cents per common share, down from $32.9 million, or 95 cents common share, in the second quarter of 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 43 cents.

The company saw net income of $28.8 million, or 83 cents per common share, in the second quarter, compared with $41.8 million, or $1.20 per common share, in the prior-year quarter.

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Tiptree Inc. reported second-quarter net income attributable to common shareholders of $11.8 million, or 32 cents per share, compared with $826,000, or 2 cents per share, in the prior-year quarter.

Reinsurance

Greenlight Capital Re Ltd. posted second-quarter net income attributable to common shareholders of $15.3 million, or 42 cents per share, compared with a net loss attributable to common shareholders of $37.4 million, or a loss of $1.01 per share, in the prior-year quarter.

Title

Investors Title Co. reported second-quarter net income attributable to the company of $5.5 million, or $2.90 per common share, versus $6.9 million, or $3.66 per common share, in the year-ago period.