NYSE:AFGInsurance
American Financial Group (AFG) Stock Climbs On Record Underwriting And Strong ROE
Traders pushed American Financial Group up about 4% to US$146.73 today after its Q2 report, rewarding a quarter that delivered punchy profitability rather than flashy top line growth. Core net operating earnings reached US$2.82 per share and property and casualty underwriting generated a Q2 record for pre tax operating income, with a specialty insurance combined ratio of 91.5%.
Those are short term headlines. The bigger story for long term holders is that profit margins and return on equity...