Welcome to our dedicated page for American Financial Group news (Ticker: AFG), a resource for investors and traders seeking the latest updates and insights on American Financial Group stock.
American Financial Group, Inc. (NYSE: AFG) is a premier insurance holding company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Great American Insurance Group, AFG specializes in property and casualty insurance services, focusing on niche commercial products tailored for businesses. Established in 1872, Great American Insurance Group provides vital insurance coverage across all 50 states through a network of independent agents and brokers. Apart from property and casualty insurance, AFG also operates in the annuity market, offering traditional fixed and fixed-indexed annuities, particularly in the education, bank, and individual sectors.
Recent financial performance highlights include a third-quarter net earnings report of $177 million for 2023, reflecting a $2.09 earnings per share. Core net operating earnings rose to $2.45 per share, marking a significant 9% increase from the previous year. This robust performance was driven by higher net investment income, despite a slight decrease in underwriting profits within the Specialty Property and Casualty insurance operations.
AFG continues to show a strong annualized return on equity (ROE), with a third-quarter ROE of 15.7% and a core operating ROE of 18.3%. The company reported an overall 7% renewal rate increase, excluding workers’ compensation, and maintained its annual earnings guidance at $10.15 to $11.15 per share for the full year 2023. Additionally, AFG's Board of Directors declared a $1.50 per share special dividend, underscoring the company's commitment to returning value to its shareholders.
With significant excess capital and a strong balance sheet, AFG continues to pursue growth opportunities within its core insurance businesses while maintaining a prudent capital management strategy, including regular and special dividends and strategic share repurchases. The company's focus on specialization and deep market expertise positions it well for sustained growth and profitability in the competitive insurance landscape.
American Financial Group, Inc. (NYSE: AFG) is set to release its 2023 first quarter results on May 2, 2023, after 5:00 p.m. ET. Investors can access the results on AFG's website. A conference call will follow on May 3, 2023, at 11:30 a.m. ET, allowing participants to register via telephone or online. The company, based in Cincinnati, Ohio, specializes in property and casualty insurance through Great American Insurance Group, which has been operational since 1872. The company focuses on providing specialized commercial products for businesses.
FAQ
What is the current stock price of American Financial Group (AFG)?
What is the market cap of American Financial Group (AFG)?
What services does American Financial Group, Inc. provide?
What recent financial achievements has American Financial Group, Inc. reported?
Who primarily conducts American Financial Group's insurance operations?
What is the focus of AFG's property and casualty insurance services?
What is AFG's approach to capital management?
How did AFG's renewal rates change recently?
What is AFG’s annual earnings guidance for 2023?
How does AFG ensure its financial stability?
Where is AFG headquartered?
What is the history of Great American Insurance Group?
