Aug 11 (Reuters) - Several insurers have reported lower
earnings for the second quarter hurt by the soft market, lower
rates and increased competition.
Insurers, which have been recording strong earnings over
the past two years helped by fewer large claims, earned lower
premiums for the quarter taking a hit from a fall in insurance
rates.
The insurance rate that U.S. insurers charge for some types
of business coverage fell as much as 30 percent in the quarter,
although catastrophe rates rose in some areas, according to a
survey conducted by the Council of Insurance Agents and
Brokers.
Following are some insurance companies that reported
quarterly results in the last two weeks and the amounts they
earned as premiums.
Cincinnati Financial Corp (CINF.O)
Q2 earnings $0.38/shr vs $2.02/shr
Operating earnings $0.42/shr
Reuters Estimates $0.28/shr
Net premium earned $794 mln vs $822 mln
Net investment income $130 mln vs $150 mln
Share performance (12 months) Down 30 percent
Aspen Insurance Holdings Ltd (AHL.N)
Q2 earnings $1.44/shr vs $1.14/shr
Operating earnings --
Reuters Estimates $1.08/shr
Net premium earned $397.3 mln vs $451.2 mln
Net investment income $70.5 mln vs $78.8 mln
Share performance (12 months) Up 14 percent
Mercury General Corp (MCY.N)
Q2 Earnings $1.29/shr vs $1.27/shr
Operating Earnings $0.86/shr
Reuters Estimates $0.98/shr
Net Premium earned $711.2 mln vs $754.1 mln
Net investment income $39.0 mln vs $40.8 mln
Share performance (12 months) Down 7 percent
Markel Corp (MKL.N)
Q2 earnings $8.29/shr vs $12.15/shr
Operating earnings --
Reuters Estimates $7.00/shr
Net premium earned $503.7 mln vs $531.2 mln
Net investment income $76.5 mln vs $77.2 mln
Share performance (12 months) Down 28 percent
United America Indemnity Ltd (INDM.O)
Q2 earnings -$0.26/shr vs $0.69/shr
Operating earnings -$0.22/shr
Reuters Estimates $0.41/shr
Net premium earned $100.7 mln vs $136.6 mln
Net investment income $17.1 mln vs $19.3 mln
Share performance (12 months) Down 33 percent
Allied World Assurance Holdings Ltd (AWH.N)
Q2 earnings $1.56/shr vs $1.96/shr
Operating earnings $1.64/shr
Reuters Estimates $1.96/shr
Net premium earned $268.9 mln vs $303.1 mln
Net investment income $72.3 mln vs $73.9 mln
Share performance (12 months) Down 15 percent
ProAssurance Corp (PRA.N)
Q2 earnings $1.27/shr vs $1.06/shr
Operating earnings --
Reuters Estimates $1.18/shr
Net premium earned $115.8 mln vs $132.7 mln
Net investment income $41.3 mln vs $44.5 mln
Share performance (12 months) Up 1 percent
Amtrust Financial Services Inc (AFSI.O)
Q2 earnings $0.43/shr vs $0.35/shr
Operating earnings $0.46/shr
Reuters Estimates $0.38/shr
Net premium earned $115.9 mln vs $130.4 mln
Net investment income $14.2 mln vs $13.0 mln
Share performance (12 months) Down 1 percent
FPIC Insurance Group Inc (FPIC.O)
Q2 earnings $1.16/shr vs $1.01/shr
Operating earnings $1.17/shr
Reuters Estimates $1.10/shr
Net premium earned $42.8 mln vs $49.4 mln
Net investment income $7.6 mln vs $7.7 mln
Share performance (12 months) Up 48 percent
American Physicians Capital Inc (ACAP.O)
Q2 earnings $1.11/shr vs $1.44/shr
Operating earnings $1.11/shr
Reuters Estimates $1.10/shr
Net premium earned $31.4 mln vs $34.9 mln
Net investment income $9.2 mln vs $11.2 mln
Share performance (12 months) Up 29 percent
--Reuters Estimates figure excludes any special items
(Compiled by Amiteshwar Singh and Santosh Nadgir in Bangalore)
