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.
CEO Sentenced in Miami to 15 Years in One of the Largest Health Care Fraud Cases 
Former CEO of Nonprofit P/C Statistical Agent Sentenced for Stealing Millions 
UPS Ripped Off Seasonal Workers With Unfair Pay Practices, Lawsuit Alleges 
More US Beef Plants May Close as Cattle Herds Keep Tightening 
