American Financial Group Posts Higher Earnings on Strong Insurance Results

Specialty insurer American Financial Group Inc. has reported $101 million in net earnings in the first quarter ending March 31, a huge jump from $19 million in the same period of 2015. The Cincinnati-based financial services and insurance company’s net earnings increase was not from any operational improvements, but from a low base in 2015 after the company lost $105 million on the sale of one of its units. Its specialty property and casualty operations posted an underwriting profit of $86 million in the first quarter, compared to $60 million in the first quarter of 2015...