American Financial Group
-
The transaction generated a $3bn war chest, much of which AFG has already distributed to shareholders. -
Core operating earnings reached a record $288mn in the quarter, on a combination of improved underwriting results and strong investment returns.
-
Following strong year-to-date performance, P&C stocks were down in June after a change of tone in a Fed meeting.
-
The Cincinnati-based carrier said it expected the sale of Great American Life Insurance to MassMutual to close on May 28.
-
The carrier is the latest major US-listed business to move away from the challenged life insurance space.
-
-
The next few years could prove to be more active in consolidation than normal for underwriters.
-
Lindner signaled caution about taking on too much of a “fixer upper”.
-
Renewal pricing was the highest in 15 years across the carrier’s $1.7bn premium P&C unit.
-
The Ohio-based giant is the latest publicly listed insurer to divest part of its life operation.
-
Nwankwo is the founder of one of the largest minority-owned businesses in the Cincinatti area.
-
The insider replaces Jeff Consolino, who left to become CEO of StarStone US after a private-equity-backed buy-in.
Most Recent
-
Outlook positive for MGAs despite potential capacity challenges: AM Best
November 21, 2024 -
Las Vegas towing MGA Western Skies weighs strategic options
November 21, 2024 -
Daily Digest: Top news from November 21
November 21, 2024