- Horace Mann reported second quarter core earnings per share of $1.06, nearly tripling prior year results.
- Individual Supplemental and Group Benefits segment contributed $13 million to core earnings, with record Individual Supplemental sales up 43% year-over-year.
- Life and Retirement segment core earnings doubled to $25 million, driven by higher net investment income and lower mortality costs.
- Net premiums and contract charges earned increased by 8%, with total revenues up 6%.
- Property and Casualty segment core earnings improved by $25 million to $17 million, with a combined ratio of 97%, a 14.5-point improvement over prior year.
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- Byline Bancorp reported net income of $30 million or $0.66 per diluted share on revenue of $110 million for Q2 2025, including merger and secondary offering charges.
- Capital levels remained strong with TCE above 10% and CET1 just under 12%; repurchased 418,000 shares returning $10 million to shareholders.
- Credit costs were $11.9 million, including $7.7 million net charge-offs and a $4.2 million net reserve build; NPLs increased to 92 basis points from 76 basis points.
- Efficiency ratio was 48.2% adjusted, and cost-to-asset ratio improved to 228 basis points, down 18 basis points quarter-over-quarter.
- Excluding those charges, net income was $33.8 million or $0.75 per diluted share.
- Expenses were $60 million including charges; adjusted expenses were $54.7 million, a 2% decrease from prior quarter.
- Loans ended at $7.4 billion, deposits at $7.8 billion, with organic loan growth of $155 million (9%) and deposit growth of 6.4% excluding brokered deposits.
- Noninterest income declined slightly due to a negative fair value mark on servicing assets despite higher gain on sale revenue and fees.
- Pretax pre-provision income was $51 million with a pretax pre-provision ROA of 212 basis points, marking the 11th consecutive quarter above 200 basis points.
- ROA was 1.25% (1.41% adjusted) and ROTCE was just under 13% (14.4% adjusted), exceeding cost of capital despite a growing capital base.
- Total revenue increased 11% year-over-year to $110.5 million, driven by a 9% increase in net interest income due to higher balances and margin expansion of 11 basis points to 4.18%.
- 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 compensation expenses were $372 million, up from $316 million last year, maintaining an adjusted compensation expense ratio of 61.5%.
- Adjusted earnings per share were $2.14, up 75% compared to the same quarter last year.
- Adjusted effective tax rate was negative 0.8% compared to 31.2% last year, due to a policy change excluding stock-based compensation vesting impact.
- Adjusted non-compensation expenses increased to $94 million from $80 million, with a non-compensation expense ratio steady at 15.6%.
- Corporate Finance revenues were $399 million, a 21% increase over last year's first quarter, with 125 transactions closed versus 116 last year.
- Financial and Valuation Advisory revenues were $79 million, a 16% increase from the prior year, with 957 fee events versus 847 last year.
- Financial Restructuring revenues were $128 million, a 9% increase year-over-year, with 35 transactions closed compared to 33 last year.
- Houlihan Lokey reported revenues of $605 million for the first quarter of fiscal year 2026, an 18% increase year-over-year.
- Other income and expense produced income of approximately $8 million versus $5 million last year, driven by increased interest and other income from investment securities.
- Expense ratio improved to 28.5%, aided by scale in start-up units and technology-driven operational efficiencies.
- Net income of $511 million or $1.28 per share, with a 24.3% return on beginning of year equity, up nearly 40% from prior year quarter.
- Net premiums earned reached a record $3.2 billion, with gross and net premiums written at $3.8 billion and $3.2 billion respectively, growing across all lines.
- Operating income increased 12% to $440 million or $1.10 per share, with a 21% return on beginning of year equity.
- Pretax net investment income grew to $351 million, driven by 9.4% growth in core portfolio; fixed maturity portfolio book yield at 4.8%.
- Pretax underwriting income rose 8.2% to $287 million; calendar year combined ratio was 90.9%, accident year combined ratio ex cat was 88.4%.
- Stockholders' equity hit a record $9.8 billion, up 16.7% year-to-date, with financial leverage at historic lows of 22.5%.
- Strong operating cash flow of $2.6 billion year-to-date supports investment portfolio growth and capital return initiatives.
- Catastrophe losses were $99 million, slightly higher than the prior year's $90 million, but the impact on the combined ratio remained flat.
- Financial leverage remained low at 23.4%, and after-tax unrealized investment losses improved by $120 million to $249 million.
- Net income per diluted share increased 8.7% year-over-year to $1.00 or $401 million, with an annualized return on beginning of year equity of 19.1%.
- Net premiums earned reached a quarterly record of $3.1 billion, and net premiums written hit a record $3.4 billion, with growth across all lines and segments.
- Operating earnings were $420 million or $1.05 per share, yielding a 20% annualized return on beginning of year equity, excluding after-tax foreign currency gains and losses.
- Ordinary and special dividends totaled $224 million, with book value per share growth before dividends at 6.8% for the quarter and 14.3% year-to-date.
- Record net investment income of $379 million was driven by growth in invested assets and higher new money rates on fixed maturity securities, with a book yield increase to 4.7%.
- Stockholders' equity increased by over $380 million or 4.3% to a record $9.3 billion.
- The accident year combined ratio before catastrophe losses was 88.4%, with a loss ratio excluding cats of 59.9% and an expense ratio of 28.5%.
- The effective tax rate was 23.2%, above the U.S. statutory rate due to foreign and state taxes.
- After-tax net investment income increased 15% to $850 million, driven by fixed income portfolio.
- Combined ratio improved to an exceptional 83.9% underlying, marking the fourth consecutive quarter below 85%.
- Core income of $1.9 billion or $8.14 per diluted share in Q3 2025.
- Expense ratio was 28.6% for the quarter, with full year 2025 expected around 28%.
- Net written premiums grew to $11.5 billion, with 3% growth in Business Insurance segment.
- Returned $878 million to shareholders including $628 million in share repurchases.
- Return on equity for the quarter was 22.6%, with a trailing twelve months core ROE of 18.7%.
- Underwriting income pretax was $1.4 billion, more than doubling compared to prior year quarter.
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