Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

American Financial Q2 2013 profits increased to $110m

American Financial Group has reported net earnings attributable to shareholders of $110m, or $1.20 per share for the second quarter of 2013, compared to $99m, or $1.01 per share during the comparable period earlier year.

For the second quarter ended on 30 June 2013, its after-tax net realized gains stood at $26m against $9m during the corresponding period a year ago.

Core net operating earnings were $87m, or $0.96 per share, compared to $90m, or $0.91 per share during the same period year ago quarter.

AFG co-chief executive officers Carl Lindner III and S Craig Lindner jointly said, "Based on results for the first six months of 2013, we expect core net operating earnings in 2013 to be between $3.70 and $4.10 per share, up from our previous guidance of $3.60 to $4.00 per share."

Its specialty property and casualty (P&C) insurance operations generated an underwriting profit of $21m compared to $52m during the same period earlier year.

Annuity segment operations contributed $82m in pretax core earnings, with an increase of 39% from $59m during the same period a year ago.

Run-off long-term care and life segment sustained a pretax core operating loss of $2m in the second quarter of 2013 compared to pretax core operating earnings of $5m during the same period last year.

Trading as an insurance holding company, American Financial Group has more than $35bn in assets and offers property and casualty insurance products and services.