American Overseas Group Limited (AORE.PK) reported first quarter 2012 net loss available to common shareholders of $4.5 million, or $1.69 per share, compared to net income available to common shareholders of $6.0 million, or $2.28 per share, for the first quarter 2011.
Earned premiums in the first quarter 2012 of $3.0 million were 32% lower than the $4.4 million earned in the first quarter 2011.
Net investment income for the first quarter 2012 was $2.1 million, 13% below the $2.4 million recorded in the first quarter 2011. The decrease in investment income in the first quarter 2012 was primarily the result of a decline in the book yield from 3.3% as of March 31, 2011, to 2.7% as of March 31, 2012.
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by RTT Staff Writer
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