New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 20, 2013
06:53 EDTEMCIEMC Insurance sees FY13 operating income guidance $2.40-$2.65, consensus $1.93
Sees FY13 combined ratio 99.2%.
News For EMCI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 1, 2016
07:34 EDTEMCIEMC Insurance sees FY15 operating EPS $2.21-$2.26, consensus $2.11
EMC Insurance Group announced that it expects to report operating income1 in the range of $2.21 to $2.26 per share for the year ended December 31, 2015, and that the GAAP combined ratio for the year will be approximately 96.3 percent. These results are significantly better than the Company's most recent guidance, which anticipated operating income in the range of $1.80 to $2.00 per share and a GAAP combined ratio of 97.6 percent. "Improved premium rate adequacy and below average catastrophe and storm losses produced an excellent combined ratio--our lowest since 2006," stated President and CEO Bruce G. Kelley. "Operating income per share should exceed the high end of our previous guidance range by more than ten percent." The increase in guidance is primarily attributed to the reinsurance segment, which is expected to report a 71.0 percent fourth quarter GAAP combined ratio that is much lower than previously anticipated. This better than expected result is primarily driven by an increase in the amount of favorable development experienced on prior accident year reserves and a low level of large losses. The property and casualty insurance segment is expected to report a GAAP combined ratio of 99.6 percent for the fourth quarter.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use