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.
State Farm Adjuster’s Opinion Does Not Override Policy Exclusion in MS Sewage Backup 
Experian Launches Insurance Marketplace App on ChatGPT 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups 
