- RLI reported an 85 combined ratio with underwriting profitability across all segments, despite a challenging market environment.
- The company maintained a disciplined approach in a complex environment marked by increased market volatility and legal system abuse.
- Management emphasized the importance of vigilance, underwriting discipline, and adaptability for long-term success.
- RLI's focus on niche, diversified product portfolios has supported steady growth and profitability in a softening market.
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- Jackson Financial reported adjusted operating earnings of $350 million in Q2 2025, driven by strong spread product performance and higher yields in the bond portfolio.
- Jackson returned $216 million to shareholders in Q2, extending 15 consecutive quarters of capital return, with $447 million returned in the first half of 2025.
- RILA account balances grew nearly 80% year-over-year to nearly $15 billion, with RILA sales up 16% sequentially to $1.4 billion.
- Total adjusted capital increased to $5.3 billion, with a risk-based capital ratio of 566%, well above the 425% target minimum.
- Total retail annuity net outflows improved to $2.2 billion, down 27% from a year ago and 39% from Q1 2025.
- Variable annuity account values increased to $239 billion by the end of Q2, with total retail annuity sales rising 4% year-over-year to $4.4 billion.
- Adjusted combined ratio was 73.1% for Q2 2025, consistent with the prior year period.
- Annualized adjusted return on equity was 23.7%, slightly down from 24.7% in Q2 2024.
- Gross written premiums grew 29% year-over-year to $496.3 million, or 45% growth excluding runoff business.
- Loss ratio was 25.7%, driven primarily by non-catastrophe attritional losses and favorable reserve development.
- Net investment income increased 68% year-over-year to $13.4 million with a yield of 4.7%.
- Second quarter 2025 adjusted net income increased 52% year-over-year to $48.5 million or $1.76 per diluted share.
- RGA received a significant increase in in-force business value credits, totaling approximately $2 billion, reflecting long-term embedded value.
- The recognition was achieved through a thorough rating agency process, without the need for securitization or borrowing.
- This recognition enhances RGA's capital position, with excess capital increasing to $3.8 billion at Q2 end, and pro forma for the Equitable transaction at $2.3 billion.
- Further opportunities for in-force value recognition are anticipated, with ongoing efforts to expand credits across more business blocks.
- Regions has been actively exiting approximately $900 million in targeted loans year-to-date, primarily in office and transportation portfolios.
- The company emphasizes its disciplined approach to portfolio shaping, balancing credit risk and return expectations.
- Management expects an additional $300 million of exit portfolios to be addressed by the end of 2025, with minimal further reductions anticipated.
- The focus on soundness is reflected in the decision to exit high-risk leverage lending, aligning with long-term risk appetite.
- Despite portfolio reductions, the company reports improving credit quality, with significant paydowns and upgrades in stressed portfolios.
- The ongoing portfolio shaping efforts are driven by both credit risk considerations and strategic capital allocation, not just market conditions.
- The company expects to close the Commonwealth deal tomorrow, with a retention target of 90%.
- Management emphasizes the cultural fit and the high adviser satisfaction ranking (12th consecutive #1 from J.D. Power).
- Efforts to preserve Commonwealth's community, culture, and adviser experience are highlighted.
- Advisers are exploring options like setting up their own RIAs, but the company supports maintaining adviser relationships within the existing platform.
- The company has engaged advisers to reinforce the value of staying with LPL, citing operational and regulatory complexities of setting up independent RIAs.
- Chubb reported a record core operating income of $3 billion in Q3 2025, up 29% year-over-year, supported by broad-based growth across regions and segments.
- The company achieved a record underwriting income of $2.3 billion, a 55% increase from the previous year, with a combined ratio of 81.8%, reflecting disciplined underwriting and favorable loss development.
- Management emphasized the importance of geographic and product diversification, including North America, Asia, Latin America, and Europe, which contributed to the strong results.
- The quarter was characterized by a quiet catastrophe quarter, yet the company remains vigilant about catastrophe risk volatility, citing California wildfires and convective storms as ongoing concerns.
Dafinchi