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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, Inc. (NYSE: AFG) has declared a regular dividend of $0.56 per share, marking a 12% increase from the previous annual rate. The dividend is payable on October 25, 2021 to shareholders on record as of October 15, 2021. This reflects AFG's commitment to providing returns to its shareholders following the increase announced earlier.
American Financial Group (NYSE: AFG) has declared a special cash dividend of $4.00 per share, payable on October 5, 2021, to shareholders of record as of September 28, 2021. This dividend represents an aggregate payment of approximately $340 million. In addition, AFG announced a 12% increase in its regular quarterly cash dividend to $0.56 per share effective October 2021. The company attributes this distribution to its strong financial position and ongoing success in generating excess capital.
American Financial Group (NYSE: AFG) announced that Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will participate in the 2021 Keefe, Bruyette & Woods Virtual Insurance Conference on September 10, 2021. Although there will be no formal presentation, AFG will conduct several investor meetings during the conference. Relevant investor materials will be available on AFG's website prior to the event at www.AFGinc.com.
American Financial Group, Inc. (NYSE: AFG) has approved a dividend increase from $2.00 to $2.24 per share, a 12% rise, effective from October 2021. The new quarterly dividend will be $0.56 per share, reflecting the company's ongoing commitment to returning capital to shareholders. AFG’s Co-CEOs stated that this decision underscores their confidence in the company's financial strength and growth prospects, marking the sixteenth consecutive year of dividend increases.
American Financial Group (NYSE: AFG) reported strong Q2 2021 results, with net earnings of $1.0 billion ($11.70/share), significantly up from $177 million ($1.97/share) in Q2 2020. Included in these results were favorable after-tax non-core items totaling $797 million. AFG's core net operating earnings were $205 million ($2.39/share), compared to $60 million ($0.67/share) in the prior year. The company also announced a special dividend of $14.00/share and repurchased $114 million in stock. Book value per share rose to $66.12, reflecting a robust annualized return on equity of 72%.
American Financial Group (NYSE: AFG) declared a special cash dividend of $2.00 per share, payable on August 2, 2021, to shareholders on record as of July 26, 2021. This one-time dividend totals approximately $170 million and supplements AFG’s regular quarterly dividend of $0.50 per share, scheduled for the same date. In the first half of 2021, AFG returned $1.58 billion to shareholders via dividends and stock repurchases, reflecting a robust financial position and commitment to returning capital.
American Financial Group (NYSE: AFG) will release its 2021 second quarter results on August 3, 2021, at 5:00 p.m. ET. The results will be accessible on AFG’s website. A conference call to discuss the results is scheduled for August 4, 2021, at 11:30 a.m. ET, with options to participate via telephone or internet. Replay options will be available after the call. AFG is based in Cincinnati, Ohio, and primarily focuses on property and casualty insurance through Great American Insurance Group.
American Financial Group, Inc. (NYSE: AFG) declared a $0.50 per share dividend, payable on July 26, 2021, to shareholders on record as of July 15, 2021. This dividend declaration reflects the company's commitment to returning value to shareholders. AFG is an insurance holding company based in Cincinnati, specializing in property and casualty insurance through its Great American Insurance Group.
American Financial Group (NYSE: AFG) has completed the sale of its annuity business, including Great American Life Insurance Company and its subsidiaries, to MassMutual for approximately $3.5 billion in after-tax cash proceeds. AFG declared a special cash dividend of $14.00 per share, totaling about $1.2 billion, payable on June 15, 2021. This is in addition to the regular quarterly dividend of $0.50 per share. The company’s Board of Directors also authorized a share repurchase of up to 5 million shares through 2025, underscoring its focus on the Specialty P&C market and commitment to returning capital to shareholders.
American Financial Group (NYSE: AFG) announced approval from the Ohio Department of Insurance for its sale of Annuity businesses to Massachusetts Mutual Life Insurance Company. The sale, which includes Great American Life Insurance Company and its subsidiaries, is set to close on May 28, 2021. AFG anticipates receiving after-tax cash proceeds of $3.4 billion from this transaction, marking a significant financial move for the company.
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