American Financial Group (AFE) has reported 51.49 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $153 million, or $1.72 a share in the quarter, compared with $101 million, or $1.14 a share for the same period last year.    

Revenue during the quarter grew 6.85 percent to $1,576 million from $1,475 million in the previous year period. Net premium earned for the quarter went up marginally by 2.40 percent or $24 million to $1,022 million.  

Net investment income was at $435 million for the quarter, up 5.84 percent or $24 million from year-ago period. The company has recorded a gain on investments of $3 million in the quarter compared with a loss of $18 million for the previous year period.

S. Craig Lindner and Carl H. Lindner III, AFG’s co-chief executive officers, issued this statement: "The year is off to a good start, with first quarter earnings per share records for AFG. The diversity within our portfolio of specialty property and casualty insurance and annuity businesses has helped us to deliver consistent, strong core operating earnings and created opportunities for profitable growth despite competitive market conditions. Strong operating profitability, superior investment performance and effective capital management resulted in growth in adjusted book value plus dividends of $2.18 per share during the quarter, an increase of 4%.