Welcome to our dedicated page for American Finl Group Ohio news (Ticker: AFG), a resource for investors and traders seeking the latest updates and insights on American Finl Group Ohio stock.
American Financial Group reports recurring developments tied to its role as an insurance holding company focused on specialty property and casualty coverage for businesses. News commonly covers quarterly and annual results, GAAP net earnings, core net operating earnings, underwriting profit, alternative investment returns and performance across specialty commercial insurance lines.
Company updates also include regular and special dividends, share capital actions, conference calls, investor meeting materials and participation in insurance and financial-services conferences. The recurring themes connect AFG's operating results with its property and casualty underwriting, investment portfolio returns and shareholder capital returns.
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.
American Financial Group (NYSE: AFG) will host a virtual investor meeting on November 18, 2020, at 2:30 p.m. ET. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will present. Investors can access the materials via the Investor Relations page on AFG’s website, www.AFGinc.com, prior to the event. AFG, with approximately $73 billion in assets, primarily focuses on property and casualty insurance and annuities, operating under the Great American Insurance Group brand.
American Financial Group (NYSE: AFG) will participate in the virtual 2020 Morgan Stanley Insurance Corporate Access Day on November 10, 2020. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will attend, although there will be no formal presentation. Investor materials will be available on the AFG Investor Relations page prior to the event. As of September 30, 2020, AFG, based in Cincinnati, Ohio, holds approximately $73 billion in assets and primarily focuses on property and casualty insurance and annuity sales.
American Financial Group (AFG) reported Q3 2020 net earnings of $164 million ($1.86 per share), up from $147 million ($1.62 per share) in Q3 2019. Core net operating earnings increased to $217 million ($2.45 per share), driven by higher underwriting profits in Specialty P&C insurance operations and improved alternative investments. AFG's excess capital at September 30, 2020, was approximately $1 billion, expected to rise to $1.2 billion post-reinsurance deals. Despite decreases in gross and net annuity premiums of 19%, Q3 sales surged over 25% from Q2 2020, indicating positive momentum.
American Financial Group (NYSE: AFG) has entered into a reinsurance agreement with Commonwealth Annuity and Life Insurance Company, ceding about $5.7 billion of traditional fixed and indexed annuities, which is approximately 15% of its inforce business. This agreement, effective October 1, 2020, is anticipated to enhance AFG's net interest spread on remaining annuity reserves of $34 billion and free up between $300 million and $325 million of statutory capital. AFG expects the deal to generate additional excess capital between $375 million and $400 million.
American Financial Group (NYSE: AFG) announced its plan to redeem all outstanding 6% Subordinated Debentures due 2055, totaling $150 million. The redemption is set for November 15, 2020, at 100% of the principal amount plus accrued interest. This decision aims to streamline financial obligations and improve capital management. More details are available in the notice sent to debenture holders.
American Financial Group (NYSE: AFG) will release its 2020 third quarter results on October 28, 2020, after 5:00 p.m. ET, with the information available on its website. A conference call to discuss these results is scheduled for October 29, 2020, at 11:30 a.m. ET, accessible by telephone or via the internet. The company, based in Cincinnati, Ohio, manages around $70 billion in assets and primarily engages in property and casualty insurance. The call will be recorded for later access until November 5, 2020.