American Financial Group has reported net earnings attributable to shareholders of $108m, or $0.97 per share, for the 2010 second quarter, compared to $127m, or $1.09 per share, reported for the 2009 second quarter.
Total revenues for the second quarter of 2010 were $1.05bn, a decrease of 3.6% compared to $1.09bn for same the quarter in 2009.
The company posted income before income taxes of $158m for the quarter compared to $206m for the same period last year.
The company’s realized investment gains for the second quarter were $11m compared to $15m for the same quarter last year.
Carl Lindner and Craig Lindner, co-CEOs of American Financial Group, said: “AFG’s results for the second quarter and first six months of 2010 demonstrate our ability to navigate continued challenges in the insurance marketplace.
“The specialty nature and mix of our insurance businesses serve us well in this environment. We have posted solid core operating earnings and continue to see a meaningful improvement in the market value of our investment portfolio.”