AFG FEELING BLUE
American Financial Group Inc.’s (AFG) second-quarter earnings from insurance businesses will be negatively impacted by certain litigation charges and by lower-than-expected underwriting results in its p/c insurance operations. As a result, second-quarter earnings from insurance businesses are likely to be substantially below the $.65 per share recorded in the 2000 first quarter. The company also expects final determination of the earn-out related to the 1998 sale of its commercial lines business in the second quarter or early in the third quarter of 2000. The agreement provided for an additional payment on retention of business through May 31, 2000.
Popular Today
- Risks Too Big for Insurers Just Fed a $200 Billion Market Boom in Captives
- Former NFL Player’s $43.5 Million Score in Medical Malpractice Case Upheld
- New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown
- Hippo’s First Connect Partners With Root Insurance on Quote and Bind Process