American Financial Group Announces Special Dividend and Q3 2024 Results

American Financial Group, Inc. (NYSE: AFG) has recently declared a special, one-time cash dividend of $4.00 per share of its common stock. The dividend is set to be paid on November 26, 2024, to stockholders on record as of November 15, 2024. This announcement was made alongside the release of the company’s third-quarter financial results and the availability of its Investor Supplement.

In the press release dated November 5, 2024, the company reported its results for the third quarter of 2024. The net earnings for the quarter amounted to $181 million. Core net operating earnings stood at $194 million for the quarter. The total assets of the company as of September 30, 2024, were reported at $32.59 billion.

The Property and Casualty Insurance segment of American Financial Group posted net written premiums of $2.35 billion for the quarter. Underwriting profit for this segment amounted to $115 million. Within the Specialty segment, underwriting profits varied across divisions, with Specialty Casualty reporting $76 million, Specialty Financial reporting $22 million, and Other Specialty reporting a loss of $15 million.

In terms of investments, the company’s total cash and investments stood at $15.74 billion as of September 30, 2024. The investments include a variety of asset types such as fixed maturities, equity securities, mortgage loans, and real estate investments.

American Financial Group provided additional details on its investments, showcasing a diversified portfolio across various sectors including government securities, municipal bonds, asset-backed securities, and corporate bonds. The investment grade securities constituted the majority of the portfolio.

The company’s financial statements and exhibits are available for further review on their website. As per the filing with the Securities and Exchange Commission, the information provided should not be deemed as filed under the Exchange Act or incorporated by reference in future filings.

This special dividend declaration and financial update highlight American Financial Group’s commitment to returning value to its shareholders while maintaining a strong financial position and strategic investment portfolio.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read American Financial Group’s 8K filing here.

About American Financial Group

American Financial Group, Inc, an insurance holding company, provides specialty property and casualty insurance products in the United States. The company offers property and transportation insurance products, such as physical damage and liability coverage for buses and trucks, inland and ocean marine, agricultural-related products, and other commercial property and specialty transportation coverages; specialty casualty insurance, including primarily excess and surplus, executive and professional liability, general liability, umbrella and excess liability, and specialty coverage in targeted markets, as well as customized programs for small to mid-sized businesses and workers’ compensation insurance; and specialty financial insurance products comprising risk management insurance programs for lending and leasing institutions, fidelity and surety products, and trade credit insurance.