PHLY's Blowout Quarter: Fool by Numbers

On Feb. 16, Philadelphia Consolidated Holdings (Nasdaq: PHLY  ) released fourth-quarter earnings for the period ended Dec. 31, 2006.

  • Net income for the fourth quarter skyrocketed 155.4% to $73.8 million, from $28.9 million -- although last quarter's results included a $26 million goodwill impairment charge.
  • The quarter's results were boosted by $13.2 million in favorable reserve development.
  • The combined ratio fell to 70.9% from 74.2%, thanks to a 310-basis point drop in the loss ratio and a 20-basis point decrease in the expense ratio.
  • Book value per share increased nearly 40% year over year, to $16.48 per share at the end of 2006.

(Figures in thousands, except per-share data)

Income Statement Highlights

Q4 2006

Q4 2005


Premiums Earned




Investment Income




Net Income








Get back to basics with a look at an insurer's income statement.

Ratio Checkup

Q4 2006

Q4 2005


Loss Ratio




Expense Ratio




Combined Ratio




*Expressed in percentage points.

What do these ratios mean?

Balance Sheet Highlights


Q4 2006

Q4 2005






Cash and Equivalent





Loss Reserve




Unearned Premiums




Learn your way around an insurer's balance sheet.

Related Companies:

  • Argonaut Group (Nasdaq: AGII  )
  • Chubb (NYSE: CB  )
  • Markel (NYSE: MKL  )
  • WR Berkley (NYSE: BER  )
  • White Mountains (NYSE: WTM  )

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check for more of our in-depth discussion of what the numbers mean.

Fool contributor Emil Lee is an analyst and a disciple of value investing. He doesn't own shares in any of the companies mentioned above. Emil appreciates your comments, concerns, and complaints. The Motley Fool has a disclosure policy.

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