Allied World Assurance Company Holdings, AG ( AWH ) reported second-quarter 2014 operating income of
Allied World Assurance Company Holdings, AG ( AWH ) reported second-quarter 2014 operating income of 76 cents per share. Earings lagged the Zacks Consensus Estimate by 13.6% and fell 22.4% year over year.
The quarter experienced lower premiums written in the Reinsurance segment, weak underwriting performances and a decline in the investment income. Total expense also escalated in the quarter.
Including net realized investment gains of 77 cents and foreign exchange loss of 1 cent, the property and casualty insurer reported a net income of $1.52 per share, rebounding from the year-ago loss of 2 cents per share.
Net premiums written of Allied World declined 4.7% year over year to $553.9 million in the reported quarter.