American Financial Group, Inc. - AFG STOCK NEWS

American Financial Group (NYSE: AFG) announced participation in the 22nd Annual Credit Suisse Virtual Financial Services Forum on February 25, 2021. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will engage in investor meetings, although no formal company presentation will occur. Investor materials will be available on their Investor Relations page prior to the conference. AFG focuses on property and casualty insurance as well as traditional annuities, operating through Great American Insurance Group since 1872.

American Financial Group (NYSE: AFG) reported a strong performance for Q4 2020 with net earnings of $692 million ($7.93 per share), up from $211 million ($2.31 per share) in Q4 2019. AFG's results included significant after-tax non-core gains of $423 million ($4.84 per share). Core net operating earnings increased to $269 million ($3.09 per share) compared to $203 million ($2.22 per share) the previous year, driven by improved underwriting profit in the Specialty P&C segment. The company also announced an exceptional Q4 combined ratio of 86.2%. AFG paid a special dividend of $2.00 per share during the quarter.

American Financial Group (NYSE: AFG) announced participation in the Bank of America Securities 2021 Virtual Insurance Conference on February 10, 2021. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will attend. While there is no formal company presentation, AFG plans to host several investor meetings during the event. Relevant investor materials will be available on AFG's Investor Relations page prior to the conference.

American Financial Group (NYSE: AFG) has agreed to sell its Annuity business to Massachusetts Mutual Life Insurance Company for $3.5 billion in cash. The deal, expected to close in Q2 2021, includes acquiring Great American Life Insurance Company and its subsidiaries, which held approximately $40 billion in annuity reserves as of December 31, 2020. AFG anticipates a gain of $620 million to $690 million after tax upon closing. The transaction aims to enhance AFG's capital management and operational focus, benefiting both firms and their stakeholders.

American Financial Group (NYSE: AFG) will announce its 2020 fourth quarter and full year results on February 3, 2021, after 5:00 p.m. ET. The results will be accessible on AFG's website. A conference call to discuss these results is scheduled for February 4, 2021, at 11:30 a.m. ET. Investors can participate via telephone or internet, with replays available until February 11, 2021. AFG is a Cincinnati-based insurance holding company with approximately $70 billion in assets as of September 30, 2020, focusing on property and casualty insurance and fixed annuities.

American Financial Group, Inc. (NYSE: AFG) announces the promotion of Robert (Bob) A. Dee to Assistant Vice President and Controller. With over 35 years at AFG, Dee will oversee accounting policies and ensure compliance with GAAP and SEC financial reporting. He holds a bachelor’s degree in accounting from Xavier University and is a Certified Public Accountant in Ohio. AFG, based in Cincinnati, has approximately $70 billion in assets as of September 30, 2020, and is primarily engaged in property and casualty insurance and the sale of traditional annuities.

American Financial Group (NYSE: AFG) has declared a regular dividend of $0.50 per share. This dividend is set to be paid on January 25, 2021, to shareholders on record by January 15, 2021. As of September 30, 2020, AFG reported approximately $70 billion in assets, primarily focusing on property and casualty insurance through Great American Insurance Group. The company has a longstanding history dating back to 1872, delivering specialized commercial products and annuity sales.

American Financial Group (NYSE: AFG) has elected Evans N. Nwankwo to its Board of Directors. With nearly 40 years in the commercial construction sector, Nwankwo is the Founder and President of Megen Construction Company, a leading builder in the region. His firm is recognized for its LEED Platinum certification and is a top minority-owned business in Greater Cincinnati. Nwankwo is also active in philanthropy, founding the NuWay Foundation to support health and education initiatives in Nigeria. AFG's Co-CEOs expressed that Nwankwo's unique perspective will enhance the board's risk management capabilities.

American Financial Group (NYSE: AFG) has declared a special cash dividend of $2.00 per share, payable on December 29, 2020, to holders of record on December 21, 2020. This one-time dividend totals approximately $174 million and supplements the regular quarterly dividend of $0.50 paid on October 26, 2020. The Co-CEOs emphasized that this decision is part of their capital management strategy and reflects the company's robust financial position.