Cincinnati-based American Financial Group Inc. said it estimates that its after-tax losses related to Hurricane Frances, net of reinsurance, will be about $4 million, or 5 cents per share. The company currently estimates that its after-tax losses from Hurricanes Frances and Charley accumulate to about $12 million, or15 cents per share.
CEO Carl H. Lindner III said the losses would push earnings to the lower end of the previously announced guidance range of $2.85 to $3.10 per share.
AFG is the parent company of the Great American Insurance Group.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Property Tax Plan Risks Charging Fees for ‘Everything’ 
NY Archdiocese Can Depose Chubb CEO Greenberg in Clergy Abuse Claims Case 
NY Lawmakers Agree to Governor’s Auto Insurance Reforms in New Budget 
JPMorgan Banker Sues Ex-Colleague Over ‘Fabricated’ Sex Claims 
