American Financial Group (AFG) reported net earnings attributable to shareholders of $55m, or $0.52 per share for the second quarter of 2011, compared to $108m, or $0.97 per share for the same quarter of 2010.
Gross written premiums for the second quarter 2011 were $949m, compared to $811m for the same corresponding year of 2010.
The core net operating earnings were $81m for the second quarter of 2011, compared to $102m in the second quarter of 2010.
Net earnings for the first six months of 2011 were $138m, or $1.31 per share, compared to $214m, or $1.90 per share for the same period a year ago.
The P&C specialty insurance operations generated an underwriting profit of $39m in the 2011 second quarter, compared to $68m in the second quarter of 2010.
AFG’s Co-CEO Carl Lindner and Craig Lindner Results in AFG’s P&C businesses and record operating earnings in the annuity and supplemental business contributed to solid core operating earnings for the second quarter and first six months of 2011.