The clock is ticking for Peter Hancock. The American International Group Inc. chief executive officer has posted three straight quarterly losses and will probably report Tuesday that profit in the three months ended June 30 fell 32 percent, according to analysts surveyed by Bloomberg. Hancock has presided over a 12 percent stock slump this […]
AIA first-half operating profit rises 9%
AIA Group Ltd., the third-largest Asia-based insurer by market value, said operating profit rose 9 percent in the first half, as business growth in Hong Kong and China helped to offset weaker stock markets and regional currencies. After-tax operating profit climbed to $1.96 billion in the six months to May 31, from $1.8 billion a […]
2016 Half-Year Results: Aspen Insurance Holdings reports Q2 earnings $0.89/shr
Brief-Aspen Insurance Holdings reports Q2 earnings $0.89/shr Aspen Insurance Holdings Ltd * Aspen reports results for second quarter and six months ended June 30, 2016 * Q2 operating earnings per share $0.40 * Q2 earnings per share $0.89 * Q2 earnings per share view $0.69 — Thomson Reuters I/B/E/S * Aspen Insurance Holdings Ltd says […]
2016 Half-Year Results: XL Group outperforms despite 57% drop in operating profits
XL Group became the latest carrier to report significantly lower second quarter operating earnings driven by preannounced catastrophe losses. The XL Catlin combine said operating profits were $106.4mn, representing a 57 percent decline on the $245.8mn generated in Q2 2015. But at 0.37 a share, the performance was well ahead of Wall Street analysts’ consensus […]
The headache for life insurers who relying on fixed-income to fuel earnings
Let’s say you have billions of dollars you need to invest to make a reliable income. What do you do? A) Buy relatively safe bonds, even though such debt is paying almost nothing; B) Expect to earn less on your investments; C) Buy riskier debt that pays a higher rate but has a greater chance […]
2016 Half-Year Results: JLT shrugs off Brexit insurance worries as profits dip 7% halfway
JLT’s chief executive has shrugged off fears about the impact of the UK’s Brexit vote on his insurance brokerage business. Dominic Burke, who was one of the few financial industry executives to publicly support leaving the EU ahead of the UK referendum, said JLT was well placed to cope. “Europe is still a small, single-digit part of […]
Axis Capital operating profit slumps 50%
Axis Capital Holdings Ltd. AXS, -0.68% said its second-quarter operating earnings fell 50% on catastrophe losses related to natural disasters and weather events including the Fort Murray wildfires in Canada. The Bermuda based insurer posted roughly $109 million in pretax catastrophe losses, $5 million higher than its recent guidance. In addition to the wildfires, the losses also […]
Chubb’s operating earnings soar to $1.06 billion
The wildfires in Alberta, Canada, have cut into Chubb’s profits, and other insurers should also show the effect on their earnings. Chubb Ltd. said its second-quarter operating earnings surged on growth in premiums and net investment income, despite elevated losses for such natural disasters as the Fort McMurray wildfires in Canada. Operating earnings are a widely […]
Navigators shares up 7% on sale speculation
The Navigators Group Inc. (NAVG) was among the biggest gainers on the Russell 2000 for Tuesday July 26 as the stock popped 6.6% to $93.78, representing a gain of $5.81 per share. Some 256,492 shares traded hands on 2,377 trades, compared with an average daily volume of 46,726 shares out of a total float of 14.53 […]
2016 Half-Year Results: Hiscox is celebrating what it calls a good 6mths
Hiscox has posted an improved H1 pretax profit of £206m, from £135.1m, with gross written premiums up at £1.29bn, from £1.1bn. Interim dividend was 8.5p a share, from 8.0p. “Our retail businesses continue to grow in strength and profitability. Hiscox London Market and Hiscox Re have been disciplined in tough markets,” said CEO Bronek Masojada. […]