American Financial Group Inc., a Cincinnati-based insurer, reported a 71 percent drop in net profits in the first quarter after investment losses and higher costs.
The company earned $13.1 million a share in the quarter, or 19 cents a share, after $5.3 million in realized investment losses. This is compared to $44.7 million, or 76 cents a share, in the same quarter last year.
The insurance business earnings were 21.8 million, or 32 cents a share in the first quarter. This total is down from a year ago, at $38.3 million or 65 cents a share.
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
