Aug 6, 08:23 PM

AIG Tops Estimates While MetLife Misses in Mixed Insurer Quarter

American International Group posted stronger-than-expected second-quarter results, helped by lower catastrophe claims in its property-casualty unit. Adjusted earnings rose to $1.81 a share, beating the $1.61 consensus, while net income reached $1.1 billion, or $1.98 a share on a GAAP basis. Net premiums written totaled roughly $6.9 billion and catastrophe losses were limited to $170 million, contributing to a combined ratio of 89.3%, better than the 90% analysts anticipated. Adjusted return on equity improved to 9.7%, and book value per share climbed to $74.14. MetLife’s quarter was softer. Adjusted revenue slipped to $17.92 billion, missing forecasts of $18.73 billion, and adjusted earnings of $2.02 a share fell short of the $2.16 estimate. Return on equity came in at 11.7%, well below the 15.5% analysts projected, and book value per share was $35.79. The divergent results underscore the uneven performance among major U.S. insurers as they contend with volatile markets and elevated claims costs.

#American International Group #MetLife

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AIG Tops Estimates While MetLife Misses in Mixed Insurer Quarter

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