Q3 Earnings Push Insurance ETFs Higher

The insurance industry has performed strongly this reporting cycle with robust earnings from leading players. Prominent players such as MetLife (MET - Free Report) , Prudential Financial (PRU - Free Report) , Chubb Corp (CB - Free Report) , Allstate (ALL - Free Report) , Aflac (AFL - Free Report) and Travelers (TRV - Free Report) either surpassed the estimates for earnings or revenues or both.

Insurance Earnings in Focus

MetLife, the U.S. life insurance behemoth, reported earnings of $1.27 per share, which missed the Zacks Consensus Estimate by 14 cents and declined 8% from the year-ago quarter. Revenues rose 3% year over year to $16.9 billion and were well above the consensus estimate of $16.92 billion. PRU, the second-largest U.S. life insurer, beat earnings estimates and missed on revenues. Earnings per share of $3.22 were well above the Zacks Consensus Estimate of $3.08 and 2.2% higher than the year-ago earnings. Revenues of $12.93 billion lagged the estimated $14.31 billion and declined 10.4% year over year.

One of the leading property and casualty insurers, Chubb, outpaced the Zacks Consensus Estimate on both the top and the bottom line by $715 million and 6 cents, respectively. Another property and casualty insurer, Allstate also topped the Zacks Consensus Estimate on earnings and revenues by 12.7% and 19.9%, respectively. On a year-over-year basis, its earnings improved 47% while revenues were up 5.7%.

Earnings per share of $1.16 reported by Aflac, a seller of supplement health insurance, trumped the Zacks Consensus Estimate by 9 cents and increased from the year-ago earnings of $1.03. Revenues declined from $5.58 billion in the year-ago period to $5.54 billion and fell shy of the estimate by 0.51%.

Personal property and casualty insurer, Travelers posted earnings per share of $1.43, missing the Zacks Consensus Estimate by 95 cents but declining 43.7% year over year. Revenues grew 4% year over year to $8 billion and were ahead of the estimated $7.86 billion.

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