2015 financial results News

Validus Reports $22 Million Hike in 3rd Quarter Net Income to $66.7 Million

Validus Holdings Ltd. reported net income of $66.7 million, or $0.78 per diluted common share, for the third quarter ended Sept. 30, 2015, compared to $39.7 million, or $0.41 per diluted common share, for the same period last year. For …

Aviva CEO: Jump in New Business Will Allay Fears About Friends Life Acquisition

Aviva Plc Chief Executive Officer Mark Wilson said a 25 percent jump in new business in the first nine months of the year should allay concerns that his 5.6 billion- pound ($8.6 billion) acquisition of Friends Life Group Ltd. was …

Arch Capital Reports Q3 Net Income of $74.5M, vs. $223.2M in Q3 2014

Bermuda-headquartered Arch Capital Group Ltd. reported net income available to common shareholders for the third quarter ending 2015 was $74.5 million, or $0.60 per share, compared to $223.2 million, or $1.64 per share, for the same period last year. For …

Argo Group Reports Q3 Net Income of $35.3M vs. $44.7M for Q3 2014

Bermuda-headquartered Argo Group International Holdings Ltd. reported net income of $35.3 million, or $1.24 per diluted share, compared to $44.7 million, or $1.54 per diluted share, for the third quarter of 2014. Net income for the nine month period ended …

Ping An Profit Rises 32% as Higher Premiums Offset Stock Market Slump

Ping An Insurance (Group) Co., China’s second-largest insurer, said third-quarter profit rose 32 percent as higher premium income and banking revenue helped offset the impact of a stock market rout on investment returns. Net income climbed to 13.6 billion yuan, …

Everest Re Reports Q3 Net Income of $88.6M, Compared to $274.9M in Q3 2014

Everest Re Group Ltd. reported third quarter 2015 after-tax operating income available to common shareholders of $200.2 million, or $4.53 per diluted common share, compared to after-tax operating income of $280.5 million, or $6.12 per diluted common share, for the …

XL’s Q3 Operating Net Income Down to $70.8M on Integration Costs, Cat Losses

Dublin-headquartered XL Group reported third quarter operating net income of $70.8 million, or $0.23 per share, down from $187.1 million, or $0.70 per share, in the prior year quarter. The current quarter’s results include approximately $55.2 million in integration costs …

Greenlight Re Posts Q3 Loss on Poor Investment and Underwriting Performance

Greenlight Capital Re Ltd. posted its third-straight unprofitable quarter on losses in the investment portfolio overseen by hedge-fund manager David Einhorn. The net loss for the period ended Sept. 30 widened to $219.7 million, or $5.98 a share, from $51.8 …

Update: Lloyd’s of London H1 Profit Decreases 28% on Competitive Pressures

Lloyd’s of London insurance market posted a 28 percent drop in first-half pretax profit on Thursday and said pricing remained tough in a competitive market. The insurance and reinsurance markets have attracted new players in recent years, drawn by high …

UK’s Towergate Reports H1 Before Tax Loss of $88.8M, vs. $23M Profit in H1 2014

Towergate Insurance, the UK insurance intermediary, reported a before tax loss of £58 million ($88.8 million) during the first half, compared with a £15 million ($23 million) before tax profit in the same period of 2014. The company reported income …