American Financial Reports $204M Net Income

Thursday, November 1, 2018 | 0

American Financial Corp. on Wednesday reported net income of $204 million for the third quarter, compared to $11 million for the third quarter of 2017.

For the first nine months of the year, American Financial reported net income of $559 million, up from $309 million during the same period last year.

The Cincinnati-based company, which owns Great American Insurance Group, reported $1.33 billion in net earned premiums during the quarter, up from $1.27 billion in the same period last year. It reported $3.6 billion in net earned premiums for the first nine months of 2018, up from $3.35 billion in the same period last year.

The Specialty Financial Group, which includes workers’ compensation, reported an underwriting profit of $9 million during the third quarter, compared to a $3 million loss for the prior-year’s third quarter.