American Financial Q3 Earnings Miss on Higher Catastrophe Losses
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American Financial Group (AFG) reported Q3 earnings that missed expectations due to higher catastrophe losses. Despite higher premiums, increased average renewal pricing, and improved net investment income, these were offset by increased expenses and catastrophe losses.
November 06, 2024 | 2:45 pm
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American Financial Group's Q3 earnings were negatively impacted by higher catastrophe losses, which offset gains from higher premiums and improved net investment income.
The earnings miss is primarily due to higher catastrophe losses, which is a significant factor for insurance companies like AFG. This negative impact outweighs the positive effects of higher premiums and investment income, likely leading to a short-term negative impact on the stock price.
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