American Financial Profit Tops Estimate

(RTTNews) - American Financial Group Inc (AFG) on Monday reported fourth-quarter net earnings of $127 million or $1.41 per share compared with $158 million or $1.73 per share last year.

Excluding items, core operating earnings for the quarter were $1.35 per share compared with $1.28 per share a year ago.

Analysts polled by Thomson Reuters expected earnings of $1.31 per share for the quarter. Analysts' estimates typically exclude special items.

Higher underwriting profit and net investment income in Specialty Property and Casualty ("P&C") insurance operations were partially offset by lower core operating earnings in Annuity and Run-off Long-term Care and Life segments, the company said.

Revenues for the quarter were $1.53 billion compared with $1.36 billion in the prior year.

P&C insurance net earned premiums for the quarter were $1.06 billion compared with $859 million last year. Analysts estimated revenues of $1.05 billion for the quarter.