- AIG announced a $1 billion sale of Corebridge Financial shares, reducing ownership to approximately 15%, and expects to repurchase $5-$6 billion of shares in 2025.
- The company increased quarterly dividends by 12.5% to $0.45 per share, marking three consecutive years of double-digit growth.
- Strong capital ratios and recent debt issuance, including $1.25 billion in May, support financial flexibility and a low debt-to-capital ratio of 17.9%.
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- Ameriprise reported adjusted operating EPS growth of 7% to $9.11 with a strong margin of 27%.
- Ameriprise returned 81% of operating earnings to shareholders in the quarter and plans to increase payout ratio to 85% for the second half of the year.
- Asset management operating earnings increased 2% to $222 million with margins at 39%.
- Free cash flow generation remains strong with a 90% free cash flow conversion rate across segments.
- Retirement and Protection Solutions earnings increased 9% to $214 million, driven by favorable life claims and strong interest earnings.
- Return on equity remains very strong at 52%, among the industry's best.
- The bank's total assets increased 6%, with good loan growth and spread earnings.
- Total revenues increased 4% driven by asset growth and strong transactional activity.
- Wealth management client assets grew 11% to a record $1.1 trillion, with wrap assets up 15%.
- The company has significant headroom in capital, estimated at around 10 digits according to rating agency models.
- Management emphasizes that they are generating capital faster than they can effectively utilize it.
- The company is considering returning excess capital to shareholders through dividends and share repurchases, with no immediate plans for debt issuance.
- Rob Berkley highlighted that the company's capital ratios are at an all-time high, with substantial cushion for growth or shareholder returns.
- The company has proactively refinanced debt at low interest rates, extending maturity to 2037, strengthening financial stability.
- Management maintains a flexible approach, ready to seize buyback opportunities or pay dividends depending on market conditions.
- American Express reported record revenues of $17.9 billion, up 9% year over year in Q2 2025.
- Capital position remains strong with CET1 ratio at 10%, stress capital buffer at the lowest permissible 2.5%, and ROE of 36%.
- Delinquency rates remained flat and write-off rates declined, reflecting strong credit quality.
- Earnings per share were $4.08, up 17% excluding last year's gain from the sale of the certified portfolio.
- Net card fees reached record levels, up 20% FX adjusted, more than doubling since 2019.
- Net interest income grew at a double-digit pace driven by balance sheet growth and margin expansion.
- Operating expenses grew 9% excluding certified, driven by investments in risk management and technology, but operating leverage improved with expenses as a percentage of revenue down from 25% to 21%.
- Reaffirmed full-year guidance of 8% to 10% revenue growth and EPS between $15 and $15.50.
- Returned $2 billion to shareholders including $0.6 billion dividends and $1.4 billion share repurchases.
- Total card member spending increased 7%, with strong growth in goods and services and restaurant spending, offset by softer airline and lodging spend.
- Morgan Stanley reported record revenues of $18.2 billion and EPS of $2.80 for Q3 2025, highlighting exceptional financial performance.
- The firm demonstrated a robust return on tangible equity of 23.5%, reflecting strong operating leverage across its business segments.
- Total client assets increased by $1.3 trillion over the past year to reach $8.9 trillion, underscoring the firm's scale and client engagement.
- The firm maintains excess CET1 capital over 300 basis points, indicating significant capital strength and buffer.
- Management emphasized the importance of earnings durability and capital resilience amid geopolitical and economic uncertainties.
- The firm’s strategic focus remains on delivering consistent earnings and capital growth, with ongoing investments in technology and client services.
- After-tax net investment income was $101 million, generating 13 points of ROE, up 50 basis points from Q2 2024.
- Book value per share increased 9% in the first half of 2025, driven by profitability and reduced after-tax net unrealized fixed income security losses.
- Excess and Surplus lines grew 9% with a combined ratio of 89.8%, while Personal Lines combined ratio improved to 91.6%, 26.5 points better than a year ago.
- Expense ratio increased by 60 basis points due to higher expected employee compensation after lower profit-based payouts last year.
- Fully diluted EPS was $1.36 and non-GAAP operating EPS was $1.31 for the quarter.
- Insurance segments grew 5%, with combined ratios at or below the 95% long-term target for Excess and Surplus and Personal Lines.
- Selective Insurance Group delivered an operating return on equity of 10.3% in Q2 2025 with investment income increasing 18% year-over-year.
- Standard Commercial Lines reported a combined ratio of 102.8%, including 4.8 points of unfavorable prior year casualty development.
- The GAAP combined ratio was elevated primarily due to prior year casualty reserve development; catastrophe losses were 6.7%, better than anticipated.
- The overall combined ratio for the quarter was 100.2%, impacted by 3.8 points of unfavorable prior year casualty reserve development and 6 points of catastrophe losses.
- Underlying combined ratio improved 170 basis points year-over-year to 89.7% for the quarter.
- Pathward has successfully closed the gap to its target asset mix, emphasizing balance sheet optimization in 2025.
- The company moved more than half of its consumer portfolio to held-for-sale, generating a $14.3 million credit provision release.
- Liquidity remains strong at $2.3 billion, with plans to redeploy liquidity from asset sales.
- The sale of the consumer portfolio is expected to impact net interest margin and pre-tax income in 2026, but guidance remains unchanged.
- Management highlighted the importance of maintaining an optimal asset mix to support future growth and risk management.
- The balance sheet strategy includes a focus on risk-adjusted returns and risk management through divestitures.
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