American Financial (US:AFG)2020-05-12 16:54Financial Performance Highlights - Core net operating earnings per share were $1.88, compared to $2.02 in the first quarter of 2019[5] - The annualized core operating ROE was 13.2%[5] - The company expects 2020 core net operating earnings per share, excluding marked-to-market investments, to be in the range of $6.45 to $7.25[7] - Net loss of $3.34 per diluted share, including after-tax per share amounts[7] Property & Casualty Segment - Specialty Gross Written Premiums decreased by 1% to $1.526 billion[8] - Specialty Net Written Premiums increased by 2% to $1.165 billion[8] - P&C Insurance Operating Earnings decreased by 2% to $181 million[8] - Specialty P&C Combined Ratio was 92.2%, a decrease of 0.3%[8] Annuity Segment - Pretax Annuity Core Operating Earnings were $79 million, a 5% increase[15] - Total Annuity Premiums decreased by 13% to $1.210 billion[14] - Average Fixed Annuity Investments were $40.073 billion, an 8% increase[16] - Average Fixed Annuity Reserves were $40.139 billion, an 8% increase[16] Capital and Investments - Total carrying value of the investment portfolio at March 31, 2020, was $53.2 billion[18] - Excess capital was $610 million[37] - 91% of the fixed maturity portfolio was rated investment grade[37]