Insurance company American Financial Group has reported net earnings of $89.9 million, or $0.76 per share for the fourth quarter of 2007, compared to $135.5 million, or $1.11 per share for the corresponding period of 2006.
For the full-year period of 2007, net earnings were $383.2 million, or $3.10 per share, compared to $453.4 million, or $3.75 per share for the same period of 2006.
The net earnings for 2007 were impacted by fourth quarter net realized losses on investments, primarily attributable to write-downs in the equity portfolio, including a $41.8 million reduction in the company’s equity investment in National City. The 2007 full-year net earnings also reflect the impact of strengthening reserves for asbestos and other environmental exposures during the second quarter.