- Book value increased 6% sequentially and 13.2% year-to-date, with ongoing share repurchases totaling $48.2 million in Q2 and July.
- Combined ratio improved by approximately 7 points year-over-year, with ex-CAT combined ratio improving by 3 points.
- Core Commercial combined ratio was 93%, with an ex-CAT combined ratio of 88.9%, and net written premium growth of 4.4%.
- Net investment income increased 16.7% to $105.5 million, driven by higher earned yields and strong cash flows.
- Operating earnings were $4.35 per diluted share with earnings growth of approximately 25% on an ex-CAT basis.
- Operating ROE was 18.7%, a record for the second quarter.
- Personal Lines showed strong profitability and balanced growth with 3.7% growth and 84.8% ex-CAT combined ratio.
- Specialty segment achieved 4.6% net written premium growth and a mid-80s combined ratio, with strong profitability.
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- Brighthouse Financial reported second quarter 2025 adjusted earnings of $198 million or $3.43 per share, down from $245 million in Q1 2025 and $346 million in Q2 2024.
- Corporate expenses were $202 million pretax, down from $239 million in Q1 2025 but slightly higher than $200 million in Q2 2024.
- Estimated combined risk-based capital (RBC) ratio was between 405% and 425%, within the target range of 400% to 450%.
- Holding company liquid assets exceeded $900 million as of June 30, 2025.
- Life insurance sales reached $33 million in Q2, contributing to a record $69 million year-to-date, up 21% year-over-year.
- Total annuity sales increased 16% sequentially to $2.6 billion, with Shield sales contributing $1.9 billion and fixed annuities $500 million.
- Adjusted free cash flow was $25 million, a more than tenfold increase compared to Q2 2024.
- Gross loss ratio improved significantly to 67% in Q2 2025 from 79% in Q2 2024, with a trailing 12-month gross loss ratio of 70%, the best in company history.
- Gross profit grew over 100% in Q2, with a gross margin of 39%, among the highest recorded.
- Lemonade reported strong Q2 2025 financial results with 29% year-on-year growth in in force premium (IFP), marking the seventh consecutive quarter of growth acceleration.
- Net loss narrowed to $44 million ($0.60 per share) from $57 million ($0.81 per share) in the prior year, and adjusted EBITDA loss improved slightly to $41 million from $43 million.
- Operating expenses excluding loss and loss adjustment expense increased 21% to $129 million, driven by growth spend and a $12 million one-time tax refund benefit.
- Revenue increased 35% year-over-year to $164 million, driven by gross earned premium growth, higher ceding commission rates, and a 16% increase in investment income.
- Total cash, cash equivalents, and investments ended at approximately $1.03 billion, up $11 million from year-end 2024.
- Attritional combined ratio improved 2.3 points year-over-year to 90.9% in the first half, driven by improvements in loss ratio, acquisition costs, and operating expenses.
- Core combined ratio improved by 3.8 points year-over-year to 89.5% in Q2, marking the 11th consecutive quarter of underwriting profit.
- Gross written premiums grew 10% in Q2 and 14% year-to-date, with net premiums growing 8% in Q2 and 14% in the first half.
- Half year underwriting income was $96 million with core combined ratio of 92.4%, showing slight improvement despite catastrophe losses.
- Insurance & Services segment saw net premium growth of 15% in Q2, outpacing gross premium growth due to increased retention.
- Net investment income was $68 million in Q2, tracking in line with full-year guidance of $265 million to $275 million.
- Second quarter BSCR ratio was 223%, within target range, supporting organic growth opportunities.
- SiriusPoint delivered strong Q2 2025 results with an underlying return on equity (ROE) of 17%, exceeding the target range of 12% to 15%.
- Underlying earnings per share increased over 100% year-over-year to $0.66 in Q2; diluted book value per share grew 4% in Q2 and 10% year-to-date.
- Year-to-date underlying ROE was 15.4%, at the upper end of the target range despite losses from aviation and California wildfires.
- Common equity tier 1 (CET1) capital ratio increased 10 basis points to 10.7%.
- EPS grew by $0.13 sequentially, a 14% increase over Q2, reaching $1.50 in Q3 2025.
- Fee income grew 5% sequentially and 18% year-over-year, with Capital Markets delivering its second highest quarterly performance ever.
- Loans increased 1% period-end, with core retail loans growing by about $1 billion driven by home equity and mortgage.
- Net charge-offs decreased to 46 basis points from 48 basis points in the prior quarter, reflecting favorable credit trends.
- Net interest income (NII) increased 3.5% sequentially, driven by a 5 basis point expansion in net interest margin (NIM) to 3.0%.
- Operating leverage was positive at 3%, with expense growth limited to 1%.
- Private Bank deposits grew $3.8 billion to $12.5 billion, surpassing the year-end target of $12 billion.
- Adjusted EBITDA was $73.5 million, exceeding the high end of outlook, with Progressive Leasing adjusted EBITDA at $69.7 million or 12.2% of revenue.
- Four Technologies delivered over 200% revenue growth and 167% GMV growth year-over-year, achieving profitability in Q1 and Q2 2025.
- Gross margin for Progressive Leasing was 32.4%, down 15 basis points year-over-year, impacted by increased 90-day purchase option utilization and Big Lots loss.
- Non-GAAP EPS was $1.02, significantly exceeding the outlook range of $0.75 to $0.85 per share.
- PROG Holdings delivered revenue and earnings above the high end of guidance in Q2 2025, with consolidated revenue of $604.7 million, representing low single-digit growth year-over-year.
- Progressive Leasing segment GMV was $413.9 million, down 8.9% year-over-year due to Big Lots bankruptcy and tightening actions, but up approximately 1% excluding Big Lots impact.
- SG&A expenses increased to $78.9 million or 13.8% of revenue, reflecting investments in technology and sales enablement.
- Write-offs came in at 7.5%, 20 basis points better than last year, within the targeted annual range of 6% to 8%.
- Earnings per share (EPS) for the quarter was $1.76, a 21% increase from the prior quarter.
- Net interest income increased by $6.7 million or about 10% quarter over quarter, driven by loan growth and lower funding costs.
- Net interest margin (NIM) expanded by 15 basis points to 3.83%, marking the seventh consecutive quarter of margin expansion.
- Non-interest expenses were flat at $43.1 million with some offsetting movements in payroll taxes, professional fees, IT project costs, licensing, and other expenses.
- Non-interest expense was flat at $43.1 million, with some offsetting movements in compensation, professional fees, IT project costs, licensing, and other expenses.
- Non-interest income declined by $1 million primarily due to a one-time income recognition in the prior quarter.
- Provision expense increased to $6.4 million due to loan growth, macroeconomic factors, and a $2.4 million reserve for a single non-performing loan.
- Second quarter loans increased by $271 million or 4.3%, and core deposits rose by $342 million or 5.3%.
- Tangible book value per share increased by more than 4% to $68.44, the tenth consecutive quarter of book value accretion.
- Total revenue grew 8% quarter over quarter to $76.2 million, and net income rose more than 15% to $18.8 million.
- Total revenue grew 8% quarter over quarter to $76.2 million, with net income rising over 15% to $18.8 million.
Dafinchi