The operating loss was $1.18 per share, excluding one-time items, versus a profit of $11.1 million, or 18 cents per share in the year-earlier quarter. The results fell below analysts’ forecasts of 18 cents per share profit.
Ohio also reported writing down its agent relationships asset by $42.2 million before taxes during the quarter, cutting profits by 55 cents per share. The move was part of a plan to end its relationship with managing general agents.
Was this article valuable?
Here are more articles you may enjoy.
Honda’s Insurance Agency Operations Stall, Services ‘Paused’ 
Former Bucknell University Coach Charged in Death of Freshman Football Player 
Ranking: Who Are the Insurance Industry’s AI Talent, Maturity Leaders? 
Private Equity Turns to Heat Detectives as Climate Risks Intensify 
