Ohio Casualty Results Down

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.

Topics Ohio Casualty