Higher Underwriting Profits in Comp Offset by Accident-Year Losses at AFG

American Financial Group's specialty casualty group reported an underwriting profit of $23 million in the second quarter, down 35% from the same quarter last year. Higher adverse prior-year reserve development, and accident-year losses, "more than offset" higher underwriting profitability in AFG's workers' compensation and executive liability businesses, the company said. Likewise, higher premiums in workers' compensation were partially offset by lower premiums in AFG's excess, surplus and general liability businesses. Renewal pricing for AFG's wo...