With earnings season in gear,S&P Global Market Intelligence presents a snapshot of recently reported financialresults for companies in the insurance space.
Managed care
The companyreported adjusted net income for the quarter of $47.0 million, or $1.06 per share,compared with $23.5 million, or 53 cents per share, in the year-ago quarter.
The S&PCapital IQ consensus GAAP EPS estimate for the quarter was 62 cents.
WellCareHealth Plans increased its full-year 2016 adjusted EPS guidance to a range of $4.55to $4.70, compared with the previous guidance of $4.35 to $4.60 per share.
Property and casualty
Diluted net income per share was $11.15 for the quarter, comparedwith $13.49 in the prior-year period.
Operatingearnings attributable to common stockholders for the quarter increased to $136.6million, or 77 cents per share, from $121.4 million, or 73 cents per share, in theprior-year quarter.
The S&PCapital IQ consensus normalized EPS estimate for the quarter was 73 cents.
Grosspremiums earned decreased to $98.8 million for the quarter from $109.6 million inthe year-ago quarter. The company attributed the decrease to normal policy attritionand a decrease in rates for new and renewal homeowners multiperil business.
Totalrevenues increased to $69.0 million for the quarter from $54.9 million in the year-agoquarter. Loss and loss adjustment expenses increased to $29.5 million from $23.9million a year earlier, due to $4.9 million in gross catastrophe losses relatedto a series of tornadoes in Florida during the quarter, an increase in earned premiumsand an increase in the company's Florida homeowners ultimate loss ratio.
Net operatingloss for the quarter was C$4.0 million, or a loss of 33 cents per share, comparedwith net operating income of C$2.1 million, or 17 cents per share, in the prior-yearquarter.