- Business Insurance saw 8% written premium growth with an underlying combined ratio of 88; Small Business delivered 9% premium growth and an 89 combined ratio.
- Catastrophe losses were $212 million before tax, representing 4.9 combined ratio points, primarily from tornado, wind, and hail events, with CAT losses below market share.
- Employee Benefits achieved a core earnings margin of 9.2%, driven by strong life and disability results, with persistency in the low 90s and flat fully insured premium growth.
- Expense ratios improved across Business Insurance and Personal Insurance, driven by operating leverage and higher earned premiums.
- Net investment income increased to $664 million, with a portfolio yield of 4.6% before tax, and limited partnership returns expected to improve in the second half of the year.
- Personal Insurance improved with a combined ratio of 88, auto combined ratio improved by 9.7 points to 95.2, and homeowners combined ratio was 72.7 with 17% written premium growth.
- The Hartford reported outstanding second quarter 2025 results with core earnings nearly $1 billion and a trailing 12-month core earnings ROE of 17%.
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- AFG reported core net operating earnings of $2.14 per share for Q2 2025, down from $2.56 in the prior year quarter.
- AFG returned over $100 million to shareholders in Q2 2025 through dividends and share repurchases.
- Alternative investments returned 1.2% annualized in Q2 2025, down from 5.1% in the prior year quarter, negatively impacting overall investment income by about 5%.
- Annualized core operating return on equity was 15.5%, despite lower returns from alternative investments.
- Gross and net written premiums increased 10% and 7%, respectively, driven partly by earlier crop acreage reporting.
- Net investment income excluding alternatives increased 10% year-over-year due to higher interest rates and asset balances.
- Underwriting margins in Specialty Property & Casualty insurance were strong with a 93.1% combined ratio, up 2.6 points year-over-year.
- Adjusted net operating income was $180 million in Q2 2025, up 6% year-over-year.
- Consolidated insurance and other operating expenses increased 8% year-over-year to $154 million.
- Diluted adjusted operating EPS increased 10% to $5.46.
- Investment and Savings Product (ISP) segment revenues increased 14% to $298 million with pretax income up 6% to $79 million.
- Mortgage business showed strong growth with U.S. closed loan volume up 33% and Canadian referral volume up 30%.
- Term Life segment revenues rose 3% to $442 million with pretax income up 5% to $155 million.
- Total sales in ISP segment grew 15% to $3.5 billion, with net inflows of $487 million versus $227 million prior year.
- A $37.7 million pretax gain on prior investments, including $29.4 million from Voyager Technologies, contributed to strong results.
- Average loans increased 12.7% to $36.4 billion and average deposits increased 10.7% to $55.6 billion, reflecting organic growth and Heartland acquisition impact.
- CET1 capital ratio increased 28 basis points to 10.39% following a $294 million Series B preferred stock offering and redemption of $115 million Series A preferred stock.
- Excluding acquisition and nonrecurring items, net operating income was $225.4 million or $2.96 per share.
- Legacy UMB average loan balances increased 15.3% annualized, outpacing peer banks' median 5.2% increase.
- Net charge-offs for legacy UMB were $9 million or 13 basis points; total net charge-offs including acquired loans were 17 basis points.
- Nonperforming loans to total loans improved 2 basis points to 26 basis points; legacy UMB NPLs were 10 basis points compared to peer median of 0.50%.
- UMB Financial reported net income available for common shareholders of $215.4 million in Q2 2025, including $13.5 million of acquisition expenses.
- Annualized return on average assets was 1.19%, and adjusted return on average tangible equity was 16.79%.
- Commercial loan portfolio grew at an annualized rate of 8%, with $764 million in new loans closed during the quarter.
- Deposits increased by $260 million with an annualized growth rate of 5.6%, and average cost of total deposits decreased to 2.1%.
- Net charge-offs decreased to $1.2 million or 3 basis points of average loans, reflecting strong credit quality.
- Noninterest expenses were $114.6 million with an efficiency ratio improving to 53.5% and annualized expenses to average assets at 1.89%.
- Noninterest income remained steady at $27 million, driven by core banking fees, insurance, wealth management, and SBA loan sales.
- Nonperforming assets declined to 44 basis points of total assets, and delinquencies and classified loans also decreased.
- Pretax pre-provision return on average assets was 1.64%, improving from the prior quarter and last year.
- Provident Financial Services reported net earnings of $72 million or $0.55 per share for the second quarter.
- Tangible book value per share grew $0.45 to $14.60, and tangible common equity ratio expanded to 8.03%.
- Allowance for credit loss was 160 basis points with an annualized net charge-off rate of 52 basis points.
- Approximately 604,000 shares were repurchased in the quarter at an average price of $74.49, totaling almost 1.9 million shares year-to-date.
- Liquidity remains strong with nearly $2.7 billion available, higher than last year.
- Loans and leases increased compared to last year, with commercial finance loan yields at 9.55% in the quarter versus 8.24% in the prior quarter.
- Net interest margin in the quarter was 7.43% and adjusted net interest margin was 5.98%, both expanded from last year's quarter.
- Noninterest income grew 11% from the prior year, driven by tax solutions, secondary market revenue, and card and deposit fees.
- Nonperforming loans increased due to three specific loans, including one related to fraud but well collateralized.
Dafinchi