American Financial Group Inc.’s (AFG) second-quarter earnings from insurance businesses will be negatively impacted by certain litigation charges and by lower-than-expected underwriting results in its p/c insurance operations. As a result, second-quarter earnings from insurance businesses are likely to be substantially below the $.65 per share recorded in the 2000 first quarter. The company also expects final determination of the earn-out related to the 1998 sale of its commercial lines business in the second quarter or early in the third quarter of 2000. The agreement provided for an additional payment on retention of business through May 31, 2000.
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