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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 (AFG) reported Q1 2022 net earnings of $290 million ($3.40 per share), down from $419 million ($4.84) in Q1 2021, affected by non-core losses. The company achieved core net operating earnings of $303 million ($3.56 per share), a 50% year-over-year increase, driven by strong underwriting profits in Specialty Property and Casualty insurance. AFG's annualized return on equity was 23.5%, and it announced a special cash dividend of $8.00 per share payable on May 27, 2022, increasing its core earnings guidance for 2022 to $10.50 - $11.50 per share.
American Financial Group (NYSE: AFG) will release its 2022 Q1 results on May 4, 2022, after 5:00 p.m. ET. The report will be accessible on AFG's website. A conference call is scheduled for May 5, 2022, at 11:30 a.m. ET to discuss the results. Participants can join via telephone or internet, with a replay available until May 12, 2022. AFG operates primarily in property and casualty insurance through Great American Insurance Group, established in 1872 in Cincinnati, Ohio.
American Financial Group, Inc. (NYSE: AFG) has declared a regular dividend of $0.56 per share, payable on April 25, 2022, to shareholders of record by April 15, 2022. This dividend declaration reflects the company's ongoing commitment to returning value to its shareholders.
Based in Cincinnati, Ohio, American Financial Group specializes in property and casualty insurance through its Great American Insurance Group, which has a history dating back to 1872.
American Financial Group (NYSE: AFG) has declared a special one-time cash dividend of
American Financial Group (NYSE: AFG) announced its participation in the AIFA 2022 Conference in Naples, Florida, on March 8, 2022. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will attend, although no formal presentation will be made. Instead, the company will host investor meetings, with materials available on its Investor Relations page at www.AFGinc.com prior to the event. AFG is based in Cincinnati and focuses on specialized commercial property and casualty insurance.
National Interstate Insurance Company, part of Great American Insurance Group, has promoted Shawn V. Los to President and Chief Operating Officer. With a career spanning over 20 years at National Interstate, he brings extensive experience, having previously served as Executive Vice President. This leadership change is expected to strengthen the company's position, as noted by Tony Mercurio, Executive Vice President of Great American Insurance Group. National Interstate offers specialized insurance solutions for the transportation industry and holds an A+ rating from A.M. Best.
American Financial Group, Inc. (NYSE: AFG) reported fourth quarter 2021 net earnings of $355 million ($4.18 per share), down from $692 million ($7.93 per share) in Q4 2020. For the full year, net earnings were $23.30 per share, compared to $8.20 in 2020. The company achieved a record pretax core operating earnings of $485 million in P&C insurance, driven by strong underwriting margins. AFG expects core net operating earnings for 2022 to be between $9.75 and $10.75 per share. The company had approximately $2.1 billion in excess capital at year-end, supporting ongoing dividend distributions and growth initiatives.
American Financial Group (NYSE: AFG) announced participation in the Bank of America Securities 2022 Virtual Insurance Conference on February 16, 2022. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will be involved in investor meetings, although no formal presentation will take place. Relevant investor materials will be available on AFG's Investor Relations website prior to the conference.
American Financial Group, based in Cincinnati, specializes in property and casualty insurance through Great American Insurance Group.
Summit Consulting LLC, a leading workers' compensation insurance provider in the southeastern United States, has appointed Patrick Smyth as the new senior vice president of Finance and chief financial officer. Smyth, who has extensive experience in property and casualty insurance, previously held financial leadership roles at Liberty Mutual and PricewaterhouseCoopers. He replaces Dave Conway, who is retiring in March 2022 after a long tenure at Summit. Smyth holds a finance degree from Boston College and an MBA from Boston University.
American Financial Group (NYSE: AFG) will announce its 2021 fourth quarter and full year results on February 9, 2022, at 5:00 p.m. ET. The results will be accessible on AFG’s website. A conference call is scheduled for February 10, 2022, at 11:30 a.m. ET to discuss the financial outcomes. Participants can join by phone or via the internet with options provided for both. A replay will be available until February 17, 2022.
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