Results of Operations for the Three Months Ended September 30, 2025 - American Overseas Group Limited Announces Net Income Of $2.8 Million For the Three Months Ended September 30, 2025

Core Viewpoint - American Overseas Group Limited reported a decrease in net income for the third quarter of 2025 compared to the same period in 2024, while showing an increase in book value per share and a reduction in total outstanding debt [1][4]. Financial Performance - Consolidated net income available to common shareholders for the three months ended September 30, 2025, was $2.8 million, or $60.56 per diluted share, down from $3.4 million, or $73.42 per diluted share, for the same period in 2024 [1]. - Total revenues for the third quarter of 2025 were $18.0 million, a decrease from $19.2 million in the same quarter of 2024 [9]. - Net earned property and casualty premiums decreased by $1.5 million from $13.7 million in 2024 to $12.2 million in 2025 [2]. Expense Management - Operating expenses increased by $0.6 million from $2.5 million in the prior year to $3.1 million due to a return of funding collateral in the previous quarter [3]. - Loss and loss adjustment expenses as a percentage of earned premium decreased from 57.4% to 56.4% [2]. Capital Management - The company reduced total outstanding debt from $20.8 million to $17.1 million as of September 30, 2025, through a total debt reduction of $3.7 million [4]. - The company plans to continue redirecting excess capital towards debt reduction unless other compelling opportunities arise [4]. Balance Sheet Highlights - Total assets as of September 30, 2025, were $1.24 billion, an increase from $1.14 billion at the end of 2024 [7]. - Total liabilities increased from $1.10 billion at the end of 2024 to $1.19 billion as of September 30, 2025 [7]. - Shareholders' equity increased from $45.9 million at the end of 2024 to $56.8 million as of September 30, 2025 [7].