Allied World Reports First Quarter 2017 Results
Allied World Assurance Company Holdings, AG reported net income of $80.3 million, or $0.90 per diluted share, for the first quarter of 2017 compared to net income of $74.1 million, or $0.81 per diluted share, for the first quarter of 2016.
The company reported operating income of $47.9 million, or $0.53 per diluted share, for the first quarter of 2017, compared to operating income of $59.0 million, or $0.65 per diluted share, for the first quarter of 2016.
President and Chief Executive Officer Scott Carmilani commented, “Despite a challenging market environment, I am pleased with our ability to produce an annualized net income return on average shareholder’s equity of 8.9% this quarter, while growing diluted book value per share by 2.8% from year-end 2016.
“Additionally, we have made great strides within the Global Markets Insurance segment, which generated a 14.4 percentage point improvement over the prior year period, as we are beginning to reap the benefits of the strategic re-underwriting of this segment. Looking ahead, I feel we are well positioned for continued growth in our core specialty businesses.”
