Allied World Assurance (AWH) Tops Q1 EPS by 15c

Allied World Assurance (NYSE: AWH) reported Q1 operating EPS of $0.93, $0.15 better than the analyst estimate of $0.78.

Highlights:

• Growth in gross premiums written of 10.1% in North American Insurance compared to the prior year quarter
• Growth in gross premiums written of 11.9% on a constant dollar basis in Global Markets Insurance compared to the prior year quarter
• Net favorable reserve development on prior loss years of $63.6 million versus $48.9 million in prior year quarter
• The company repurchased 1.3 million common shares totaling $50.9 million during the first quarter of 2015
• As previously announced, the company completed the acquisitions of the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance plc (“RSA”) on April 1, 2015

President and Chief Executive Officer Scott Carmilani commented, "Allied World is off to a strong start in 2015. Our North American Insurance segment continues to gain scale and see attractive rate increases. We are pleased to have completed our acquisitions of the RSA Hong Kong and Singapore operations and are looking forward to completing the combination of our platforms as we continue to grow our Global Markets Insurance segment."

For earnings history and earnings-related data on Allied World Assurance (AWH) click here.

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