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Insurance earnings roundup, Aug. 7

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Insurance earnings roundup, Aug. 7

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

Property and casualty

ProAssurance Corp. reported second-quarter operating income of $21.4 million, or 40 cents per share, compared with $36.0 million, or 67 cents per common share, in the prior-year quarter.

Net income was $19.5 million, or 36 cents per share, compared with $43.1 million, or 81 cents per share, in the year-ago quarter.

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National General Holdings Corp. reported a second-quarter net loss available to common stockholders of $5.1 million, or a loss of 5 cents per common share, compared with net income available to common stockholders of $44.3 million, or 41 cents per common share, in the second quarter of 2016.

Second-quarter operating earnings attributable to the company were $11.9 million, or 11 cents per common share, compared with $46.4 million, or 43 cents per common share, in the year-ago period.

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Argo Group International Holdings Ltd. reported second-quarter adjusted operating income of $40.7 million, or $1.31 per common share, compared with $37.0 million, or $1.20 per common share, in the second quarter of 2016.

The company saw net income of $46.0 million, or $1.48 per common share, in the second quarter, compared with $30.9 million, or $1.00 per common share, in the second quarter of 2016.

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Hallmark Financial Services Inc. reported a second-quarter net loss of $3.4 million, or 18 cents per share, compared with net income of $1.1 million, or 6 cents per share, for the same period in 2016.

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Federated National Holding Co. reported second-quarter net income attributable to shareholders of $4.9 million, or 37 cents per share, up from $991,000, or 7 cents per share, in the prior-year quarter.

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Tiptree Inc. reported a second-quarter net loss attributable to class A common stockholders of $4.4 million, or a loss of 15 cents per class A common share, compared with net income attributable to class A common stockholders of $6.1 million, or 17 cents per class A common share, in the prior-year quarter.

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Atlas Financial Holdings Inc. reported second-quarter net income attributable to common shareholders of $5.5 million, or 45 cents per common share, compared with $4.8 million, or 38 cents per common share, in the year-ago period.

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Kingsway Financial Services Inc. posted a second-quarter net loss attributable to common shareholders of $7.9 million, or a loss of 37 cents per share, compared with a net loss attributable to common shareholders of $596,000, or a loss of 3 cents per share, in the year-ago quarter.