Allied CEO: Excellent Fourth Quarter, Full Year
Allied World Assurance Company Holdings reported net income of $130.5 million, or $1.33 per diluted share, for the fourth quarter of 2014, compared to net income of $137.9 million, or $1.34 per diluted share, for the fourth quarter of 2013.
Net income for the year ended December 31, 2014 was $490.3 million, or $4.92 per diluted share, compared to net income of $417.9 million, or $3.98 per diluted share, for the year ended December 31, 2013.
The company reported operating income of $148.5 million, or $1.51 per diluted share, for the fourth quarter of 2014, compared to operating income of $74.5 million, or $0.72 per diluted share, for the fourth quarter of 2013.
Operating income for the year ended December 31, 2014 was $415.1 million, or $4.17 per diluted share, compared to operating income of $364.0 million, or $3.47 per diluted share, for the year ended December 31, 2013.
President and Chief Executive Officer Scott Carmilani said, “Allied World had an excellent fourth quarter and full year. Another great underwriting year has helped us to generate a five-year average combined ratio of 89.4%. The company made great progress in 2014 on executing our goals and initiatives, and is well positioned for 2015 and beyond.
“We look forward to the close of the RSA acquisitions and continued attractive opportunities across our platforms.”
