Today’s issue of WorkCompRecap features a relatively timely continuation of earnings news, as the markets hold their breaths in anticipation of the release of July’s employment numbers.
First up is Eastern Insurance Holdings, Inc., whose workers’ compensation insurance segment reported net income of $2.9 million for the second quarter of 2011, compared to $1.4 million for Q2 of 2010. Next up is SeaBright Holdings, Inc. which reported a net loss of $15.8 million compared to a net loss of $15.5 million last year. SeaBright’s Chairman, President and CEO John Pasqualetto discussed persistence of a difficult claim environment, especially in construction and in California. Finally, AIG reported net income attributable to AIG of $1.8 billion and after-tax operating income of $1.3 billion for the quarter, up from a net loss of $2.7 billion in Q2 2010.
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