American Overseas Group Ltd saw net income rise sharply in the first quarter of 2025, as a jump in earned premiums and investment returns boosted its bottom line.

The Bermudian-based holding company reported net income of $4.25 million for the three months ended March 31, 2025, up 70 per cent from $2.5 million in the same period last year. Total revenues climbed 18.8 per cent to $20.27 million, driven by gains across all income categories.

Net premiums earned rose to $13.35 million from $10.87 million in Q1 2024, while fee income increased to $6.42 million from $5.94 million. Net investment income more than doubled to $489,987 from $226,810, helping push income before tax up to $5.45 million, compared to $3.23 million a year earlier.

The company also posted comprehensive income of $5.08 million, up from $2.43 million in Q1 2024, largely due to an $829,966 gain from unrealised investment growth.

AOG’s total expenses increased modestly to $14.82 million, up from $13.83 million in the prior year. Net losses and adjustment expenses rose to $7.05 million, while acquisition costs ticked up to $4.07 million.

Founded in 1998, AOG initially focused on financial guaranty reinsurance. The 2014 acquisition of Orpheus transformed AOG into a property-and-casualty insurer focusing on non‑standard auto lines through its US subsidiaries. The company fully exited its legacy financial guaranty business in 2020.

All earned premium and fee income reported in the quarter were generated by AOG’s P&C book of business.