- Adjusted operating income was $378 million, flat from prior quarter, driven by lower compensation expenses offset by Western outflows and lower average AUM.
- Assets under management ended the quarter at $1.61 trillion, increased from the prior quarter due to positive markets and strengthening flows, partially offset by long-term outflows at Western Asset Management.
- Equity net outflows were $645 million, impacted by market volatility affecting growth strategies; positive net flows into large cap value, international, and emerging market strategies.
- Fixed income net outflows improved to $1.3 billion; excluding Western, fixed income net inflows were $3.5 billion, driven by Franklin Templeton Fixed Income and Brandywine Global.
- Institutional pipeline of 1 but unfunded mandates rose by net $4 billion to a record $24.4 billion, including $14.8 billion in new wins across all asset classes and multiple regions.
- Long-term net outflows totaled $9.3 billion, an improvement from the prior quarter's $26.2 billion outflows; excluding Western Asset Management, long-term net inflows were $7.8 billion this quarter.
- Multi-asset and alternatives generated combined $4.3 billion in positive net flows; multi-asset flows have been positive for 16 consecutive quarters.
- Over half of mutual fund AUM outperformed peer median across 3-, 5-, and 10-year periods; mutual fund investment performance increased in 3-, 5-, and 10-year periods but declined in 1-year period due to a large yield fund.
- Western net outflows moderated to the lowest since September 2024; money market balances grew with cash management net inflows for 4 of the last 5 quarters, increasing cash management AUM to $72 billion.
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- Capital returned to shareholders totaled $650 million year-to-date, including $150 million in dividends and $500 million in share repurchases, with plans to repurchase shares toward the upper end of the $500 million to $1 billion range for 2025.
- Closed Block segment earnings declined significantly to $3.9 million from $24.4 million due to unfavorable Long-Term Care (LTC) benefits experience, with the LTC net premium ratio rising to 94.9%.
- Colonial Life segment increased adjusted operating income slightly to $117.4 million from $116.9 million, with premium growth of 3.6% and a benefit ratio of 48.3%, producing an ROE of 18.6%.
- Core operations premium growth was 4.6% in the quarter, driven by strong persistency and natural growth within the in-force block, keeping the company on track for its full year premium growth outlook of 3% to 6%.
- Group disability benefit ratio was 62.2%, higher than the prior year due to lower recoveries but still within the low 60s expected range, with a robust ROE in excess of 25%.
- Group life and AD&D benefit ratio increased to 69.7% from 65.4%, driven by higher average claim size, consistent with expectations of around 70%.
- Holding company cash ended the quarter at $2 billion with a risk-based capital ratio of approximately 485%, well above targets.
- International segment showed solid premium growth of 12% on a constant currency basis, with adjusted operating income slightly down to $41.6 million from $42.5 million, impacted by inflation differences.
- Investment income from alternative assets yielded 7% annualized, slightly below the long-term target of 8% to 10%, with total alternative invested assets valued at $1.5 billion.
- Unum Group reported second quarter 2025 adjusted after-tax operating income per share of $2.07, down from $2.16 in the same period last year, reflecting earnings pressure mainly from claims experience in group products and the Closed Block.
- Unum U.S. supplemental and voluntary lines saw adjusted operating income increase to $123.2 million from $115.2 million, with a benefit ratio of 44.3%, improved from 45.1% due to favorable benefits experience.
- East West Bancorp reported record quarterly revenue and net interest income in Q2 2025, with average loan and deposit growth of 2% quarter-over-quarter.
- Efficiency ratio was 36.4%, with total operating noninterest expense at $230 million, in line with full-year guidance.
- Income tax expense was $92 million with an effective tax rate of 22.9%, including a $6 million one-time expense related to California's tax changes.
- Net interest income grew to $617 million, up $17 million from Q1, with a 16.7% adjusted return on tangible common equity and a 1.6% return on average assets.
- Total average deposits grew 2% quarter-over-quarter, with strong growth in noninterest-bearing deposits and commercial deposit segments.
- Total noninterest income was $86 million, with fee income at $81 million, the third highest quarter for fees in company history.
- Credit quality remained strong with stable nonperforming loans and charge-offs at 11 basis points, unchanged from Q1.
- Deposit growth was strong at over $2 billion, with total assets growing to $69 billion including a $425 million preferred stock offering.
- Net interest income reached a quarterly record of $547 million, driven by $2.3 billion loan growth in Q2.
- Net interest margin remained stable at 3.54%, within the target range.
- Noninterest expenses rose by $15.4 million to $381.5 million, primarily due to higher salaries, benefits, and marketing expenses.
- Noninterest income increased by $7.5 million to $124.1 million, driven by mortgage banking and wealth management revenue growth.
- Tangible book value per share continued to grow, maintaining a consistent upward trend since becoming public.
- Wintrust reported record quarterly net income of $195.5 million, up from $189 million last quarter.
- Consolidated operating income for Q2 2025 was $1.1 billion, up from $410 million in Q2 2024, driven largely by unrealized gains on the equity portfolio.
- Expense ratio increased to 36.3% from 34.5% due to severance, professional fees, and controllable expense increases, with a commitment to reduce controllable expenses over time.
- Favorable reserve development of 6 points was reported in the first half of 2025 despite reserve strengthening in runoff lines.
- Gross written premiums in Markel Insurance were down 2% in Q2 2025 but net earned premiums were up 3%, reflecting underwriting actions to improve profitability.
- Investments operating income rose to $822 million in Q2 2025 from $100 million a year ago, with a 5.4% return on the equity portfolio and $597 million in mark-to-market gains.
- Markel Group shares have compounded at an annual growth rate of over 16% over the last 5 years.
- Markel Insurance combined ratio was 96.9% in Q2 2025 versus 93.8% a year ago, impacted by adverse development in discontinued product lines and runoff businesses.
- Markel Insurance operating income declined to $128 million in Q2 2025 from $177 million a year ago due to less favorable prior year loss development and a higher expense ratio.
- Markel Ventures funded all capital expenditures internally and generated cash for share repurchases and other uses.
- Markel Ventures revenues increased 7% to $1.55 billion in Q2 2025, with operating income up 17% to $208 million, driven by acquisitions and growth in construction services.
- Net investment income was $228 million in Q2 2025, slightly up from $220 million in Q2 2024, with fixed income yields improving but moderated by lower short-term interest rates.
- Effective fee rate remained stable at 59 basis points.
- Effective tax rate was 25.3%.
- Ending AUM rose to $88.9 billion from $87.6 billion, positively impacted by market appreciation.
- Liquidity improved to $323 million from $295 million in the prior quarter.
- Net inflows into open-end funds were offset by institutional net outflows.
- Operating margin decreased slightly to 33.6% from 34.7%.
- Q2 revenue increased 1.1% to $135 million, driven by higher average AUM and day count.
- Reported earnings of $0.73 per share, slightly down from $0.75 sequentially.
- Total expenses increased 2.9% due to higher compensation, distribution fees, G&A, and talent acquisition costs.
- Credit costs totaled $3.4 billion, including net charge-offs of $2.6 billion and a net reserve build of $810 million.
- Expenses rose 8% year-over-year to $24.3 billion, reflecting higher volume and revenue-related costs.
- JPMorgan Chase reported net income of $14.4 billion and EPS of $5.07 for Q3 2025, with a return on tangible common equity (ROTCE) of 20%.
- Net interest income (NII) growth was offset by lower interest rates despite balance sheet growth and mix benefits.
- The CET1 capital ratio ended at 14.8%, down 30 basis points from the prior quarter due to increased risk-weighted assets (RWA) from wholesale lending and markets activities.
- Total revenue increased 9% year-over-year to $47.1 billion, driven by higher markets revenue and fees across asset management, investment banking, and payments.
- Wholesale charge-offs were slightly elevated due to fraud-related losses in secured lending facilities, but overall credit performance remains in line with expectations.
Dafinchi