DALLAS, Texas - BeaconEquity.com announces the publication of ‘Philadelphia Consolidated (Nasdaq: PHLY) to Benefit from $4.7 Billion Tokio Marine Deal’
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Philadelphia Consolidated (Nasdaq: PHLY) to Benefit from $4.7 Billion Tokio Marine Deal
”Philadelphia Consolidated Holding Corp. today reported a 44% drop in its second-quarter profit. Due in part to losses in its investment portfolio, Philadelphia Consolidated reported net income of $52.9 million, or 73 cents per share, compared with $94.4 million, or $1.27 per share, in the same period a year ago…
“CEO James Maquire Jr. recently announced the company’s second quarter combined ratios, which measure the amount of money insurers pay out in claims and expenses compared with how much they receive from writing new business, rose to 86.2% from 74.2% in the same period last year. Additionally, the company continues to maintain its profitable renewal business with retention ratios of 95% on quoted business for its Commercial and Specialty Segments…
“Philadelphia Consolidated operates as Philadelphia Insurance Cos. to design, market and underwrite Commercial Property & Casualty, and Management & Professional Liability insurance products tailored for the unique exposures of niche markets by providing competitively priced policies, local service relationships, and differentiated coverage features. The Philadelphia-based company has 47 offices and roughly 1,400 employees across the United States…”
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