AFG on NYSE

American Financial Group

Logo: The logo is from the following website: http://www.afginc.com http://library.corporate-ir.net/library/89/893/89330/items/330032/AC2C0F6A-6E97-4B5C-B265-6F3D9F248614_AFG_Annual_Report.pdf, Non-free logo, via Wikipedia4

American insurance and investments company

American Financial Group, Inc. is an American financial services holding company headquartered in Cincinnati, Ohio.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1872Founded1

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  • TickerAFG on NYSE1
  • Industryfinancial services1
  • HeadquartersCincinnati1
  • Websitewww.afginc.com
  • Incorporated inOH5
  • Business addressGreat American Insurance Group Tower, 301 E. 4Th Street, Cincinnati, Oh 452025
  • Filer categoryLarge accelerated filer5

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Great American Tower at Queen City Square
Photo: EEJCC, CC BY-SA 4.0, via Wikimedia Commons7

American Financial Group, Inc. is an American financial services holding company headquartered in Cincinnati, Ohio. Its primary businesses are insurance and investments.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

13.1%Operating margin8
10.3%Net margin8
-1.8%Revenue growth, 20258
17.5%Return on equity8
0.38×Debt to equity8

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin25¢$2.1B
  • Other costs61¢$5.0B
  • Interest1¢$80.0M
  • Income tax3¢$231.0M
  • Profit10¢$842.0M

Out of $8.2B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid40¢$606.0M
  • Share buybacks6¢$99.0M
  • Kept or used elsewhere54¢$828.0M

Out of $1.5B of cash from operations.8

Financial statements

Revenue91011128$8.2B in 2025+32% since 2019
0$2.5B$5.0B$7.5B$10.0B2019: $6.2B$6.2B20192020: $5.8B$5.8B2020−7%2021: $6.6B$6.6B2021+14%2022: $7.0B$7.0B2022+7%2023: $7.8B$7.8B2023+11%2024: $8.3B$8.3B2024+6%2025: $8.2B$8.2B2025−2%
Operating income91011128$1.1B in 2025+69% since 2019
0$500.0M$1.0B$1.5B2019: $634.0M$634.0M20192020: $339.0M$339.0M2020−47%2021: $1.3B$1.3B2021+294%2022: $1.1B$1.1B2022−16%2023: $1.1B$1.1B2023−4%2024: $1.1B$1.1B2024+5%2025: $1.1B$1.1B2025−5%
Net income91011128$842.0M in 2025−6% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $897.0M$897.0M20192020: $732.0M$732.0M2020−18%2021: $2.0B$2.0B2021+173%2022: $898.0M$898.0M2022−55%2023: $852.0M$852.0M2023−5%2024: $887.0M$887.0M2024+4%2025: $842.0M$842.0M2025−5%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Net earned premiums$7.0B$7.0B$6.5B
Net investment income$745.0M$780.0M$742.0M
Securities$10.0M$0-$36.0M
Subsidiaries$1.0M$0-$4.0M
Investment income$283.0M$380.0M$421.0M
Gain (loss) on change in fair value of assets/liabilities-$26.0M$4.0M$27.0M
Other income$115.0M$124.0M$146.0M
Total revenues$8.2B$8.3B$7.8B
Losses and loss adjustment expenses$4.4B$4.5B$4.0B
Commissions and other underwriting expenses$2.1B$2.0B$1.9B
Interest charges on borrowed money$80.0M$76.0M$76.0M
Expenses of managed investment entities$241.0M$338.0M$405.0M
Other expenses$333.0M$319.0M$305.0M
Total costs and expenses$7.1B$7.2B$6.8B
Earnings before income taxes$1.1B$1.1B$1.1B
Provision for income taxes$231.0M$237.0M$221.0M
Net Earnings$842.0M$887.0M$852.0M
Basic (USD per share)$10.08$10.57$10.06
Diluted (USD per share)$10.08$10.57$10.05
Basic (shares)83.5M shares83.9M shares84.7M shares
Diluted (shares)83.5M shares83.9M shares84.8M shares

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The story

National General Corporation, run by Gene Klein, acquired Great American in 1968. Carl Lindner, Jr. later acquired National General, and then sold off its other operations.

By December 1988, the company had a flight department at Lunken Airport.

American Financial Group was ranked 486th on the Fortune 500 list in 2004. Through the years American Financial Group has owned a number of subsidiaries, real estate properties, and companies, including The Mountain View Grand Resort & Spa in Whitefield, New Hampshire, The Cincinnatian in Cincinnati, Ohio, The Biltmore in Coral Gables, Florida, Le Pavillon in New Orleans, Louisiana, and the Charleston Harbor Resort and Marina in Charleston, South Carolina. Great American Insurance Group partnered with the Cincinnati Reds baseball team to purchase naming rights for Great American Ball Park upon its opening in 2003.

On December 6, 2006, American Financial sold assets acquired from successors to the dissolution of the Penn Central Railroad including the land under Grand Central Terminal and the 156 miles (251 km) of Metro North track leading to the New York City landmark to Argent Ventures. The company announced in December 2007 that it would combine its offices and move its headquarters to the brand new Great American Insurance Building at Queen City Square in 2011.

American Financial Group was one of the first publicly traded Fortune 500 companies to make political donations after corporations' freedom of speech rights were expanded to include donations as a result of the Citizens United v. FEC decision. Carl Lindner, Jr is a longtime top Republican donor, donating millions of his personal income to candidates and political action committees, which sent ripples in campaign finance circles during the 2010 mid-term elections. American Financial, of which Lindner has a non-majority 42% share, donated $400,000 to the Republican-allied PAC American Crossroads.

From Wikipedia’s article on American Financial Group, shared under CC BY-SA 4.0.6

Leadership

Who has led American Financial Group, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Carl Lindner III2005–now
  2. S. Craig Lindner2005–now
197019801990200020102020

Products and brands

  • insurance

Listed on Wikidata.1

American Financial Group's major insurance division operates as Great American Insurance, founded in 1872, and focuses on property and casualty insurance services. Other affiliates and subsidiaries include Great American Custom, Mid-Continent Group, National Interstate, and Republic Indemnity. Insurance specialties also include equine, trucking, executive liability, fidelity and crime, and agribusiness. Great American Financial Resources is a wholly owned subsidiary of American Financial Group and supplies a range of annuities, life insurance products and supplemental insurances to individuals and enterprises.

The parent company, AFG, is owned principally by the family of financier Carl Lindner, Jr., who bought the company in 1973 and served as its chairman until his death in 2011. The senior Lindner's sons, Carl H. Lindner III and S. Craig Lindner serve as co-chief executive officer.

From Wikipedia’s article on American Financial Group, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Subsidiaries

  • Great American Insurance Group

From Wikidata.1

Former names

  • AMERICAN FINANCIAL GROUP HOLDINGS INCNov 25, 1997 to Jul 16, 19975

Timeline

  1. Jan 2005New chief executive Carl Lindner III becomes CEO1
  2. Jan 2005New chief executive S. Craig Lindner becomes CEO1
  3. Jan 2, 1990Went public Listed on NYSE1
  4. 1872Founded Founded1

Recent filings

  1. Sep 18, 20264
  2. Sep 14, 20264
  3. Sep 11, 2026144
  4. Sep 2, 20264
  5. Sep 1, 2026144
  6. Aug 26, 2026N-PX
  7. Aug 26, 20264
  8. Aug 18, 2026144
  9. Aug 12, 202613F-HR
  10. Aug 7, 20264
  11. Aug 6, 2026SCHEDULE 13G/A
  12. Aug 6, 202610-Q
  13. Aug 6, 2026144
  14. Aug 5, 20268-K
  15. Jun 25, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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