trending Market Intelligence /marketintelligence/en/news-insights/trending/w4f6Abfk3SvWlaZlYr2TzQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Insurance earnings roundup, May 10

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February


Insurance earnings roundup, May 10

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

Financial guaranty

reported first-quarternet income attributable to common shareholders of $9.4 million, or 21 cents pershare, compared with $387.0 million, or $8.56 per share, in the fourth quarter of2015.

Operatingearnings were $218.1 million, or $4.82 per share, compared with $481.0 million,or $10.64 per share, in the prior quarter.

The sequentialdecline in operating earnings and net income in the first quarter was mainly dueto lower accelerated premiums and a lower benefit in RMBS loss and loss expensesincurred. The lower RMBS benefit was due to the positive impact in the fourth quarterof 2015 from the $995 million RMBS settlement with JP Morgan.


Life and health

first-quarter 2016 underlyingnet income of C$582 million, or 95 Canadian cents per share, compared with C$516million, or 84 cents per share, in the first quarter of 2015.

The S&PCapital IQ consensus normalized EPS estimate for the quarter was 90 cents.

The companyreported net income of C$540 million, or 88 Canadian cents per share, compared withC$441 million, or 72 cents per share, in the year-ago quarter.


first-quarter net loss attributableto the company of $42.8 million, or a loss of $7.44 per share, compared with a netloss attributable to the company of $74.0 million, or a loss of $12.87 per share,in the year-ago period.

Comprehensiveloss attributable to the company was $37.6 million for the quarter, compared witha loss of $76.2 million in the prior-year period.


Managed care

reported first-quarternet income of $200,000, or less than 1 cent per share, down from $2.2 million, or3 cents per share, in the first quarter of 2015.

Adjustednet income for the quarter was $5.7 million, or 7 cents per share, compared with$1.5 million, or 2 cents per share, in the prior-year quarter.

Totalrevenues rose to $396.2 million for the quarter, compared with $355.5 million inthe year-ago quarter.


Property and casualty

reported a first-quarternet loss of $5.5 million, or a loss of 13 cents per share, compared with net incomeof $486,000, or 1 cent per share, in the prior-year quarter.

Lossbefore income taxes was $8.4 million for the quarter, compared with income beforeincome taxes of $804,000 in the year-ago quarter.

The companyreported a loss ratio of 96.1% for the quarter, compared with 76.6% for the prior-yearquarter, due to unfavorable development related to previous periods of $10.3 million,primarily caused by an increase in bodily injury severity and greater than usualsubsequent payments on previously closed claims.