The operating loss was $1.18 per share, excluding one-time items, versus a profit of $11.1 million, or 18 cents per share in the year-earlier quarter. The results fell below analysts’ forecasts of 18 cents per share profit.
Ohio also reported writing down its agent relationships asset by $42.2 million before taxes during the quarter, cutting profits by 55 cents per share. The move was part of a plan to end its relationship with managing general agents.
Was this article valuable?
Here are more articles you may enjoy.
‘Structural Shift’ Occurring in California Surplus Lines 
AIG Underwriting Income Up 48% in Q4 on North America Commercial 
What Analysts Are Saying About the 2026 P/C Insurance Market 
Portugal Deadly Floods Force Evacuations, Collapse Main Highway 
