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Earnings roundup: Aon's adjusted Q2 net income rises YOY

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

Magellan Health Inc. reported second-quarter net income attributable to the company of $13.6 million, or 53 cents per share, an increase from $5.5 million, or 23 cents per share, a year ago.

Adjusted net income for the period was $23.3 million, or 92 cents per share, versus $14.1 million, or 59 cents per share, the previous year.

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Multiline

Grupo Catalana Occidente SA's first-half attributable result climbed 8.8% to €187.2 million compared to €172.1 million for the 2017 first half.

Consolidated profit for the period was €205.8 million, up from €190.2 million a year ago.

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Property and casualty

Aon PLC reported second-quarter net income attributable to shareholders of $48 million, or 19 cents per share, compared with $769 million, or $2.93 per share, in the second quarter of 2017.

Results included $36 million, or 14 cents per share, of unfavorable impact from the adoption of the Financial Accounting Standards Board's new revenue recognition standard.

Adjusted net income attributable to Aon shareholders from continuing operations was $424 million, or $1.71 per share, versus $346 million, or $1.31 per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the latest quarter was $1.64.

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PartnerRe Ltd. posted second-quarter net income available to common shareholders of $124.7 million, down from $191.2 million a year ago.