American Financial Group Inc., a Cincinnati-based insurer, reported a 71 percent drop in net profits in the first quarter after investment losses and higher costs.
The company earned $13.1 million a share in the quarter, or 19 cents a share, after $5.3 million in realized investment losses. This is compared to $44.7 million, or 76 cents a share, in the same quarter last year.
The insurance business earnings were 21.8 million, or 32 cents a share in the first quarter. This total is down from a year ago, at $38.3 million or 65 cents a share.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
What Progressive and GEICO Q3 Results Reveal About Auto Insurance Profit, Growth 
Authorities in Miami Investigating Death of Passenger on Cruise Ship 
PwC: Insurance Execs Say Agentic AI Leading Industry Transformation 
Catastrophe Bonds Absorb ‘Black Swan’ Event Dealt by Melissa 
