Core Insights - Fairfax Financial Holdings Limited reported net earnings of $945.7 million in Q1 2025, an increase from $776.5 million in Q1 2024, driven by higher net gains on investments despite a decrease in adjusted operating income to $685.5 million from $977.1 million [1][2][12] - The book value per basic share rose to $1,080.38 as of March 31, 2025, reflecting a 3.5% increase from $1,059.60 at the end of 2024, adjusted for dividends [1][18] Financial Performance - The property and casualty insurance and reinsurance operations generated adjusted operating income of $685.5 million, with a consolidated combined ratio of 98.5% and an underwriting profit of $96.9 million despite catastrophe losses of $781.3 million from California wildfires [2][8][12] - Gross premiums written increased by 5.0% to $8,474.0 million, while net premiums written grew by 8.4% to $6,843.1 million, indicating strong business growth [5][22] Investment Gains - Net gains on investments totaled $1,056.1 million, primarily from common stocks ($779.5 million) and bonds ($388.4 million), reflecting favorable market conditions [3][10][12] - The fixed income portfolio remains conservatively positioned, with 70% in U.S. treasuries and government bonds, and 20% in high-quality corporate bonds [10] Cash and Liquidity - The company ended the quarter with approximately $2.1 billion in cash and marketable securities, alongside $1.7 billion in investments in associates and consolidated non-insurance companies [4][12] Segment Performance - The insurance service result for property and casualty insurance and reinsurance operations was $609.1 million, down from $1,037.5 million in 2024, primarily due to increased catastrophe losses [7][12] - The company recorded a net favorable prior year reserve development benefit of $219.1 million, compared to $29.9 million in 2024 [12][19] Shareholder Returns - The company paid a dividend of $15.00 per common share in Q1 2025, consistent with the previous year [18][20] - The total debt to total capital ratio, excluding non-insurance companies, increased to 25.3% from 24.8% at the end of 2024, reflecting short-term borrowings and preferred share redemptions [16][35]

Core Viewpoint - Arch Capital Group Ltd. (ACGL) reported a first-quarter 2025 operating income of $1.54 per share, exceeding the Zacks Consensus Estimate by 12.4%, although it represented a 37.1% decline year over year. The results were supported by higher premiums in the Insurance and Reinsurance segments and improved net investment income, but were negatively impacted by poor underwriting income and increased catastrophic losses [1]. Premiums and Income - Gross premiums written increased by 8.9% year over year to $6.4 billion, while net premiums written rose by 10.5% year over year to $4.5 billion, driven by higher premiums in both Insurance and Reinsurance segments [2]. - Net investment income grew by 15.6% year over year to $378 million, although it fell short of the estimate of $436.2 million, influenced by a reduction in investable assets due to a $1.9 billion special cash dividend paid in December 2024 and higher investment expenses [3]. Revenue and Losses - Operating revenues reached $4.5 billion, marking a 21.2% increase year over year, but missed the Zacks Consensus Estimate by 0.9%. Pre-tax current accident year catastrophic losses amounted to $547 million, significantly higher than the previous year's loss of $58 million. Underwriting income declined by 43.3% year over year to $417 million [4]. - The combined ratio, indicating the percentage of premiums paid out as claims and expenses, worsened by 1,130 basis points to 90.1, compared to the estimate of 94.5 [5]. Segment Performance - In the Insurance segment, gross premiums written rose by 24.4% year over year to $2.6 billion, with net premiums written climbing 25.4% to $1.9 billion, driven by new business opportunities and rate changes, despite competitive market pressures [6]. - The Reinsurance segment saw gross premiums written increase by 0.8% year over year to $3.5 billion, while net premiums written rose by 2.2% to $2.3 billion, primarily due to rate increases and growth in existing accounts, although offset by reductions in specialty lines [7][8]. - The Mortgage segment experienced a decline, with gross premiums written dropping by 4.4% year over year to $326 million and net premiums written decreasing by 4% to $266 million, attributed to lower mortgage originations [9]. Financial Position - As of March 31, 2025, the company had cash of $1.2 billion, a 21.2% increase from the end of 2024. Debt remained flat at $2.7 billion. Book value per share was $55.15, up 3.8% from the end of 2024, while annualized operating return on average common equity contracted by 920 basis points year over year to 11.5% [11].

Kinsale Capital (KNSL) delivered first-quarter 2025 net operating earnings of $3.71 per share, which surpassed the Zacks Consensus Estimate by 17.8%. The bottom line increased 6% year over year. The results reflected the continued execution of the company’s strategy of disciplined underwriting and technology-enabled low costs. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)KNSL’s Operational UpdateOperating revenues jumped 13.4% year over year to $423 million. The growth can primar ...

Ambac Financial Group, Inc. (NYSE:AMBC) Q4 2024 Earnings Conference Call February 27, 2025 8:30 AM ET Company Participants Charles Sebaski - Managing Director and Head of Investor Relations Claude LeBlanc - President and Chief Executive Officer David Trick - Chief Financial Officer Conference Call Participants Deepak Sarpangal - Repertoire Partners LP Operator Ladies and gentlemen, good morning, and welcome to the Ambac Financial Group Fourth Quarter 2024 Earnings Conference Call. At this time, all particip ...