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Insurance earnings roundup, May 5

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Insurance earnings roundup, May 5

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

Life and health

reportedfirst-quarter net income attributed to shareholders of C$1.05 billion, or 51Canadian cents per common share, up from C$723 million, or 36 cents per commonshare, in the year-ago period.

Theyear-over-year increase in net income attributed to shareholders was primarilydue to gains from interest rate movements and higher core earnings, partiallyoffset by lower-than-expected returns on alternative long-duration assets.

Coreearnings, a non-GAAP measure, grew 14% year over year to C$905 million, or 44cents per common share, from C$797 million, or 39 cents per common share, inthe year-ago quarter. The increase reflected strong growth in new businessvolumes, particularly in Asia, and C$75 million related to changes in foreigncurrency rates, partially offset by higher macro hedging costs.

TheS&P Capital IQ consensus normalized EPS estimate for the quarter was 43cents.


reportedfirst-quarter net earnings attributable to common shareholders of C$620million, or 62.3 Canadian cents, down from C$700 million, or 70 cents pershare, in the prior-year quarter.

TheS&P Capital IQ consensus GAAP EPS estimate for the first quarter was 70cents.


reported first-quarter net income attributed to commonshareholders of C$98.3 million, or 96 Canadian cents per share, versus C$104.9million, or C$1.03 per share, in the year-ago period.

TheS&P Capital IQ consensus GAAP EPS estimate for the quarter was C$1.02.

For2016, the company expects EPS in the range of C$4.20 to C$4.60. The S&P Capital IQconsensus GAAP EPS estimate for 2016 is C$4.30.


reportedfirst-quarter net earnings attributable to class A shares of $16.8 million, or$4.88 per class A share, compared with $20.7 million, or $6.03 per class Ashare, in the first quarter of 2015.

Earningsfrom operations, excluding net realized gains and losses on investments, were$15.7 million, or $4.44 per class A share, versus $20.7 million, or $5.85 perclass A share, in the year-ago period.


Managed care

reportedfirst-quarter net income attributable to the company of $3.5 million, or 14cents per share, versus $14.8 million, or 56 cents per share, in the year-agoperiod.

Proforma net income for the period was $3.4 million, or 14 cents per share,compared with $9.0 million, or 34 cents per share, in the year-ago quarter.


Mortgage guaranty

first-quarter netincome of $48.0 million, or 52 cents per share, compared with $34.8 million, or38 cents per share, in the year-ago quarter.

TheS&P Capital IQ consensus GAAP EPS estimate for the quarter was 49 cents.

Comprehensiveincome totaled $61.3 million, compared with $39.7 million in the 2015 firstquarter.


Multiline

a first-quarter net loss of$2.1 million, or 4 cents per share, compared with net income of $13.5 million,or 26 cents per share, in the first quarter of 2015.

Consolidatednet operating loss was $600,000, or 1 cent per share, versus consolidated netoperating income of $21.8 million, or 42 cents per share, in the year-agoquarter.


Property and casualty

first-quarter operatingincome of $144.7 million, or $9.32 per share, compared with $131.2 million, or $8.19 per share, in thefirst quarter of 2015.

Netearnings attributable to stockholders totaled $154.5 million, or $9.96 pershare, versus $125.2 million, or $7.82 per share, in the year-ago period.


first-quarter operating earnings of $20.2million, or $1.36 per share, compared with $20.9 million, or $1.43 per share,in the year-ago period.

Netincome for the quarter was $22.9 million, or $1.54 per share, compared with$25.9 million, or $1.77 per share, for the comparable period in 2015.


reported afirst-quarter net loss of $51.1 million, or 49 cents per share, compared withnet income of $50.5 million, or 47 cents per share, in the first quarter of2015.


reported first-quarter operating earnings of $7.6million, or 68 cents per share, compared with $10.4 million, or 90 cents pershare, in the first quarter of 2015.

Netearnings for the period were $7.7 million, or 69 cents per share, compared with$11.2 million, or 97 cents per share, in the year-ago quarter.


first-quarteroperating income of $12.0 million, or 69 cents per share, versus $8.8 million,or 34 cents per share, in the first quarter of 2015.

Netincome totaled $7.1 million, or 41 cents per share, compared with net income of$6.8 million, or 26 cents per share, for the same period in 2015.


first-quarterafter-tax operating income of $8.3 million, or 55 cents per share, comparedwith $3.8 million, or 26 cents per share, in the first quarter of 2015.

Netincome was $14.1 million, or 94 cents per share, compared with net income of$6.2 million, or 42 cents per share, for the same period in 2015.


TrupanionInc. reported first-quarter net loss of $2.6 million, or 9cents per share, compared with a loss of $4.9 million, or 18 cents per share,in the first quarter of 2015.

The S&P Capital IQ consensus GAAP estimate for thequarter was a per-share loss of 12 cents.


HallmarkFinancial Services Inc. reported first-quarter net income of $4.1 million, or 21cents per share, compared with $5.3 million, or 28 cents per share, for thesame period in 2015.