Allied World Reports Q3 Net Income of $68.6M
Allied World Assurance Company Holdings reported net income of $68.6 million, or $0.77 per diluted share, for the third quarter of 2016 compared to a net loss of $51.6 million, or $0.57 per diluted share, for the third quarter of 2015.
The company reported operating income of $55.2 million, or $0.62 per diluted share, for the third quarter of 2016, compared to operating income of $51.4 million, or $0.55 per diluted share, for the third quarter of 2015.
“I am pleased we were able to generate a 96.2% combined ratio and strong investment returns which resulted in net income of $68.6 million, in spite of some large loss events that took place in the quarter,” commented President and Chief Executive Officer, Scott Carmilani.
