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.
NYC Mayor Eyes City-Run Insurance Program for Affordable Housing 
AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market 
