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
Liberty Mutual Holding Co. Inc. and its subsidiaries collectively reported fourth-quarter 2017 net income attributable to the companies of $205 million, compared with $143 million in the prior-year quarter.
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National General Holdings Corp. reported fourth-quarter 2017 operating earnings attributable to the company of $30.0 million, or 28 cents per share, down from $32.8 million, or 30 cents per share, in the year-ago period.
The company saw a net loss attributable to common shareholders of $9.9 million, or a loss of 9 cents per share, compared with net income attributable to common shareholders of $39.2 million, or 36 cents per share, in the fourth quarter of 2016. Reported net income included a one-time charge of $25.8 million from National General's revaluation of deferred tax assets as a result of the Tax Cuts and Jobs Act.
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AMERISAFE Inc. reported fourth-quarter 2017 operating net income of $13.2 million, or 69 cents per share, down from $20.0 million, or $1.04 per share, in the year-ago quarter.
Net income was $649,000, or 3 cents per share, versus $19.1 million, or 99 cents per share, in the fourth quarter of 2016. Net income for the quarter included $12.6 million, or 66 cents per share, from the revaluation of net deferred tax assets from recent tax reform.
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Kinsale Capital Group Inc. reported fourth-quarter 2017 adjusted net income of $7.8 million, or 36 cents per share, compared with $6.9 million, or 32 cents per share, in the year-ago quarter.
Net income was $5.9 million, or 27 cents per share, down from $6.9 million, or 32 cents per share, in the year-ago period. Net income for the quarter includes $1.9 million, or 9 cents per share, for the revaluation of deferred tax assets from U.S. tax reform.