American Financial has registered net earnings attributable to shareholders of $99m, or $1.01 per share for the 2012 second quarter, with a steep rise of 100% from $48m or $0.46 per share during the same period earlier year.
According to the US underwriter, during the first six months of 2012 net realized gains stood at $9m compared to $12m in the comparable prior year periods while its book value per share, excluding appropriated retained earnings and unrealized gains on fixed maturities, increased by $2.11 to $40.74 per share.
Core net operating earnings were $90m, or $0.91 per share versus $74m, or $0.72 per share reported during the year ago quarter while net earnings for the first six months of 2012 were $212m, or $2.15 per share compared to $136m, or $1.29 per share.
American Financial co-chief executive officers Carl Lindner III and Craig Lindner said, "With approximately $590 million of excess capital at June 30, 2012 (including parent company cash of $484 million), our financial strength also positions us for healthy, profitable organic growth and for opportunities to expand our specialty niche businesses through acquisitions and start-ups that meet our return thresholds."