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Earnings roundup: Anthem, Globe Life book higher YOY net income in Q3

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Earnings roundup: Anthem, Globe Life book higher YOY net income in Q3

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

HDFC Life Insurance Co. Ltd.'s profit after tax and extraordinary items rose to 3.09 billion rupees for the fiscal second quarter from 2.87 billion rupees in the year-ago period.

Net premium income grew year over year to 74.54 billion rupees, compared with 67.78 billion rupees in the previous year. Net commissions climbed to 3.66 billion rupees from 2.64 billion rupees on a yearly basis.

As of Oct. 22, US$1 was equivalent to 70.82 Indian rupees.

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Globe Life Inc. reported third-quarter net income of $201.8 million, or $1.82 per share, up from $178.7 million, or $1.55 per share, in the prior-year quarter.

Net operating income rose to $192.4 million, or $1.73 per share, from $182.7 million, or $1.59 per share, a year ago.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $1.69.

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Storebrand ASA posted third-quarter operating profit of 586 million Norwegian kroner, compared with 685 million kroner in the prior-year quarter.

As of Oct. 22, US$1 was equivalent to 9.14 Norwegian kroner.

Managed care

Anthem Inc.'s third-quarter net income rose to $1.18 billion, or $4.55 per share, from $960 million, or $3.62 per share, in the previous year.

Adjusted net income grew year over year to $1.27 billion, or $4.87 per share, from $1.01 billion, or $3.81 per share.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $4.82.

Anthem also raised its 2019 outlook. The company now expects GAAP net income to be greater than $18.45 per share, including around 95 cents per share of net unfavorable items. Excluding these items, adjusted net income is now expected to be greater than $19.40 per share.

The company previously expected GAAP net income to be greater than $18.34 per share, including around 96 cents per share of net unfavorable items. Excluding these items, adjusted net income was expected to be greater than $19.30 per share.

The S&P Global Market Intelligence consensus normalized EPS estimate for 2019 is $19.38.

Multiline

Gjensidige Forsikring ASA reported profit before tax of 1.27 billion Norwegian kroner for the third quarter, or 1.99 kroner per share, up from 964 million kroner, or 1.75 kroner per share in the same quarter of 2018.

Property and casualty

Employers Holdings Inc. posted third-quarter adjusted net income of $28.4 million, or 88 cents per share, compared with $32.7 million, or 98 cents per share, in the third quarter of 2018.

The company's net income for the period was $32.8 million, or $1.01 per share, down from $47.6 million, or $1.43 per share, in the prior-year period.