Latest News by Industry
AMERICAN FINANCIAL GROUP INC [AFG] has reported a net loss of $852.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $7.8 billion
Based in CINCINNATI, Ohio, AMERICAN FINANCIAL GROUP INC operates in the FINANCE sector.
In the 12 months ended December 31, 2023, the financial report of the company shows the following key figures:
Revenues:
- Property and casualty insurance net earned premiums amounted to $6.531 billion, compared to $6.085 billion in the same period last year and $5.404 billion in the prior year.
- Net investment income stood at $742 million, a slight increase from $717 million in the previous year but down from $730 million in the year before.
Costs and Expenses:
- Losses and loss adjustment expenses totaled $4.033 billion, up from $3.629 billion in the previous year and $3.157 billion in the year before.
- Commissions and other underwriting expenses were $1.935 billion, higher than the $1.718 billion reported in the same period last year and $1.547 billion in the prior year.
Earnings:
- Earnings from continuing operations before income taxes were $1.073 billion, a decrease from $1.123 billion in the previous year and $1.335 billion in the year before.
- Net earnings from continuing operations were reported at $852 million, lower than the $898 million in the same period last year and $1.081 billion in the prior year.
- The company did not report any earnings from discontinued operations in the current period, compared to $914 million in the prior year.
Earnings Per Share:
- Basic earnings per share from continuing operations were $10.06, down from $10.55 in the same period last year and $12.70 in the prior year.
- Diluted earnings per share from continuing operations were $10.05, compared to $10.53 in the previous year and $12.62 in the year before.
- Basic and diluted earnings per share for the company were both $10.06 and $10.05, respectively, for the current period, showing a decrease from the previous year's figures.
In summary, the company experienced fluctuations in revenues, costs, and earnings compared to the same period last year and the prior year. The earnings per share also showed a decline in the current reporting period.
USInMinutes/IndiaInMinutes is an offering of 10kInfo, Inc., bringing you news on the latest regulatory filings. You may subscribe to more news alerts here. Although care is taken to ensure accuracy of the data, the article does not intend to replace user diligence while taking decisions of financial or legal implications