AMERICAN FINANCIAL GROUP INC

American Financial Group, Inc. (NASDAQ: AFG) operates as a specialty property and casualty insurance holding company through its Great American Insurance Group subsidiary, which has been in business for over 150 years. The company maintains its headquarters and investor information at www.AFGinc.com.

AFG's core business centers on providing specialized commercial property and casualty insurance products to businesses across the United States and select international markets. The company operates through 36 insurance businesses organized into three primary segments: Property and Transportation, Specialty Casualty, and Specialty Financial. The Property and Transportation segment includes agricultural-related crop insurance, transportation coverage for buses and trucks, and marine and inland marine products. Specialty Casualty encompasses excess and surplus liability, executive and professional liability, general liability, workers' compensation, and targeted market coverages for social service agencies and non-profit organizations. Specialty Financial includes fidelity and surety products, lender services, and trade credit insurance.

In 2025, AFG generated gross written premiums of $10.694 billion, with net written premiums of $7.110 billion across its property and casualty operations. The company maintains an investment portfolio valued at $17.18 billion, managed by an in-house team of investment professionals. AFG employs approximately 8,500 people, with roughly 7,700 employed at Great American Insurance Group.

The company's business model emphasizes decentralized decision-making, allowing each of its 36 insurance businesses autonomy in underwriting, claims, and policy servicing while benefiting from centralized investment and administrative support. This structure enables specialized expertise in particular lines of business and customer segments. AFG's competitive positioning reflects its focus on profitable specialty niches, sophisticated data analysis for risk profiling, and extensive specialized knowledge across its operations.

AFG maintains strong financial strength ratings, with Great American Insurance Company rated A+ by both A.M. Best and S&P. The company's subsidiaries include National Interstate, Summit, Republic Indemnity, and Mid-Continent Casualty, among others. AFG's distribution strategy relies primarily on independent insurance agents and brokers, with policies written through several thousand agents and brokers nationwide. The company's geographic footprint spans all major U.S. states, with California, Texas, and Florida representing significant premium concentrations, plus limited international operations in the United Kingdom, Ireland, Mexico, Bermuda, and the Cayman Islands.