AOG Reports Strong Q2, Boosts EPS to $53.51
American Overseas Group Limited (AOG) has announced a strong second quarter, with gross written premiums surging by $25.7 million to $260.9 million. The company also reported a decrease in loss and loss adjustment expenses as a percentage of earned premium, down from 61.8% to 58.3%.
AOG's net income available to common shareholders grew to $2.5 million, a $0.2 million increase from the previous year. This growth was driven by a $0.1 million rise in net earned property and casualty premiums to $12.8 million. Additionally, quarter-to-date fee income climbed by $0.3 million to $5.4 million.
The company's earnings per diluted share also improved, rising from $49.81 to $53.51. This positive trend was accompanied by a decrease in operating expenses, which increased by $0.2 million to $3.3 million. Notably, AOG's book value per weighted share jumped from $873.62 to $1,139.67.
Looking ahead, AOG plans to reduce its outstanding principal balances in its 12% and 9% Senior Secured Notes by a total of $3.7 million in Q3 2025. This debt reduction, from $20.8 million to $17.1 million, is expected to further strengthen the company's financial position.
