Tuesday, May 05, 2009

 

American Financial Group Q1 profit rises 37%; lifts FY09 EPS outlook

Monday evening, property and casualty insurer American Financial Group Inc. reported a 37% surge in profit for the first quarter from the prior-year period, reflecting lower realized losses on investments, including other than temporary impairments. Buoyed by the results, the company raised its core earnings outlook for fiscal year 2009.

For the first quarter, the Cincinnati, Ohio-based company's net income attributable to shareholders increased to $103.8 million, or $0.88 per share, from $76.0 million or $0.64 per share, in the year-ago quarter...

RTT News: American Financial Group Q1 profit rises 37%; lifts FY09 EPS outlook

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