The company said net income for the quarter ended June 30, 2024 was $534 million ($2.29 per diluted share), core income was $585 million, and the combined ratio was 100.2%, an improvement of 6.3 points from the prior year quarter. It had a net loss of $14 million in the prior year quarter.

1. 01

   The company said net income for the quarter ended June 30, 2024 was $534 million ($2.29 per diluted share), core income was $585 million, and the combined ratio was 100.2%, an improvement of 6.3 points from the prior year quarter. It had a net loss of $14 million in the prior year quarter.

2. 02

   The company said catastrophe losses of $1.509 billion pre-tax in Q2 were similar to $1.481 billion a year earlier, and that favorable prior year reserve development of $230 million pre-tax occurred in all three segments. It attributed the catastrophe losses to multiple severe wind and hail storms across several states.

3. 03

   The company said net investment income for Q2 rose 24% to $885 million pre-tax ($727 million after-tax). It returned a total of $498 million to shareholders in the same quarter, including $253 million of share repurchases.

4. 04

   The company said net written premiums for Q2 rose 8% to $11.115 billion, a record level. By segment, Business Insurance was $5.539 billion (7%), Bond & Specialty Insurance was $1.040 billion (8%), and Personal Insurance was $4.536 billion (9%).

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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