AFG Earnings Reports

American Financial Group delivered improved results in Q3 2025, with higher net income and strong core EPS growth driven by underwriting and investment gains, despite a decline in premiums.

American Financial Group (AFG) reported a decline in second-quarter 2025 net earnings to $174 million ($2.07 per share) from $209 million ($2.49 per share) in Q2 2024, primarily due to lower underwriting profit and reduced returns on alternative investments. Despite this, the company achieved an annualized core operating return on equity of 15.5% and saw strong underwriting margins in its specialty P&C insurance businesses, with net investment income (excluding alternatives) increasing by 10% year-over-year.

American Financial Group's Q1 2025 results showed lower earnings compared to last year, impacted by increased catastrophe losses and reduced investment returns, though core operating earnings remained strong and capital was significantly returned to shareholders.

American Financial Group reported Q4 2024 net earnings of $255 million ($3.03 per share) compared to $263 million ($3.13 per share) in Q4 2023. Core net operating earnings were $262 million ($3.12 per share) for Q4 2024, compared to $238 million ($2.84 per share) in Q4 2023. The increase was driven by higher P&C net investment income, including improved returns on alternative investments, partially offset by lower P&C underwriting profit.

American Financial Group, Inc. reported net earnings of $181 million ($2.16 per share) for the third quarter of 2024, compared to $177 million ($2.09 per share) in the third quarter of 2023. Core net operating earnings were $194 million ($2.31 per share) for the third quarter of 2024, compared to $208 million ($2.45 per share) in the third quarter of 2023. The company's Board of Directors declared a special cash dividend of $4.00 per share.

American Financial Group, Inc. (AFG) reported a strong second quarter in 2024, with net earnings of $209 million, or $2.49 per share. Core net operating earnings were $215 million, or $2.56 per share, reflecting higher P&C underwriting profit. The Specialty P&C operations achieved a combined ratio of 90.5%.

American Financial Group (AFG) reported a net income of $242 million, or $2.89 per share, for the first quarter of 2024, compared to $212 million, or $2.49 per share, for the same period in 2023. Core net operating earnings were $231 million ($2.76 per share) for the first quarter of 2024 compared to $247 million ($2.89 per share) in the 2023 first quarter. The Specialty P&C insurance operations generated a 90.1% combined ratio. AFG's book value per share was $50.57 at March 31, 2024.

American Financial Group, Inc. (AFG) reported a strong performance in Q4 2023, with net earnings of $263 million ($3.13 per share) and core net operating earnings of $238 million ($2.84 per share). The Specialty P&C operations achieved a combined ratio of 87.7%. A special cash dividend of $2.50 per share was declared.

American Financial Group reported a strong third quarter with net earnings of $177 million, or $2.09 per share. Core net operating earnings increased to $208 million, or $2.45 per share, driven by higher net investment income. The company's Specialty P&C operations achieved a combined ratio of 92.2%.

American Financial Group's Q2 2023 net earnings increased to $200 million ($2.34 per share) compared to $167 million ($1.96 per share) in Q2 2022. However, core net operating earnings decreased to $202 million ($2.38 per share) from $243 million ($2.85 per share) in the prior year, primarily due to elevated catastrophe losses and lower prior year reserve development in the Specialty P&C insurance operations. The company revised its full-year 2023 core net operating earnings guidance to $10.15 to $11.15 per share.

American Financial Group, Inc. reported a strong start to 2023 with a first quarter net earnings of $212 million ($2.49 per share) and core net operating earnings of $247 million ($2.89 per share). The company's annualized core operating return on equity was 22.0%. AFG had approximately $1.0 billion of excess capital at March 31, 2023.

American Financial Group (AFG) reported a decrease in both net earnings and core net operating earnings for the fourth quarter of 2022 compared to the same period in 2021. However, the company achieved record full-year underwriting profit and pretax P&C core operating earnings in its specialty P&C businesses. AFG's board declared a special cash dividend of $4.00 per share.

American Financial Group's third quarter 2022 net earnings were $165 million ($1.93 per share) compared to $219 million ($2.56 per share) in the 2021 third quarter. Core net operating earnings were $192 million ($2.24 per share) for the 2022 third quarter, compared to $231 million ($2.71 per share) in the 2021 third quarter. The company announced a special cash dividend of $2.00 per share.

American Financial Group (AFG) reported a net income of $167 million ($1.96 per share) for Q2 2022, compared to $1.0 billion ($11.70 per share) in Q2 2021. Core net operating earnings were $243 million ($2.85 per share), up from $205 million ($2.39 per share) in the prior year. The Specialty P&C operations achieved a record underwriting profit, and the company increased its full-year core net operating earnings guidance.

American Financial Group, Inc. (AFG) reported a strong first quarter in 2022, with core net operating earnings of $303 million, or $3.56 per share, a 50% increase from the prior year period. The company's Specialty P&C businesses achieved outstanding underwriting margins, and net investment income increased substantially due to the strong performance of AFG's alternative investment portfolio. AFG increased its full-year 2022 core net operating earnings guidance to $10.50 - $11.50 per share.

American Financial Group reported strong Q4 2021 results, with net earnings of $4.18 per share and core net operating earnings of $4.12 per share. The company's Specialty P&C businesses achieved record underwriting profit and the alternative investment portfolio continued to perform strongly. AFG had approximately $2.1 billion of excess capital at the end of the year.

American Financial Group reported strong Q3 2021 results, with net earnings attributable to shareholders of $219 million ($2.56 per share) compared to $164 million ($1.86 per share) for the 2020 third quarter. Core net operating earnings were $231 million ($2.71 per share) for the 2021 third quarter, compared to $121 million ($1.38 per share) in the 2020 third quarter. The company also declared a special cash dividend of $4.00 per share.

American Financial Group, Inc. reported a net income of $1.0 billion ($11.70 per share) for the second quarter of 2021, compared to $177 million ($1.97 per share) in the second quarter of 2020. Core net operating earnings were $205 million ($2.39 per share) for the 2021 second quarter, compared to $60 million ($0.67 per share) in the 2020 second quarter. The company increased its full-year core net operating earnings guidance to $8.40-$9.20 per share.

American Financial Group, Inc. (AFG) reported a strong first quarter in 2021, with net earnings attributable to shareholders of $419 million ($4.84 per share) compared to a net loss of $301 million ($3.34 per share loss) for the 2020 first quarter. Core net operating earnings were $206 million ($2.38 per share), a 75% increase from the prior year period. The company increased its full-year core net operating earnings guidance to $7.00 - $8.00 per share.

American Financial Group reported strong fourth-quarter results, with net earnings attributable to shareholders reaching $692 million ($7.93 per share) compared to $211 million ($2.31 per share) in the prior year. Core net operating earnings increased to $269 million ($3.09 per share) from $203 million ($2.22 per share) in the 2019 fourth quarter. The increase was driven by higher underwriting profit in the Specialty Property and Casualty insurance operations and higher earnings from alternative investments.

American Financial Group, Inc. reported a strong third quarter in 2020, with net earnings attributable to shareholders of $164 million, or $1.86 per share. Core net operating earnings were $217 million, or $2.45 per share. The company's annualized return on equity was 12.9%, and the annualized core operating ROE was 17.1%.

American Financial Group (AFG) reported net earnings attributable to shareholders of $177 million, or $1.97 per share, for the second quarter of 2020, compared to $210 million, or $2.31 per share, in the second quarter of 2019. Core net operating earnings were $95 million, or $1.05 per share, compared to $192 million, or $2.12 per share, in the prior year. The company increased its full-year 2020 core net operating earnings guidance, excluding the impact of alternative investments, to $6.60-$7.40 per share.

American Financial Group, Inc. reported a net loss attributable to shareholders of $301 million ($3.34 per share loss) for the first quarter of 2020, compared to earnings of $329 million ($3.63 per share) for the first quarter of 2019. Core net operating earnings were $171 million ($1.88 per share) for the first quarter of 2020, compared to $184 million ($2.02 per share) in the first quarter of 2019. The results were impacted by after-tax non-core items and adjustments to investments marked to market.

American Financial Group reported Q4 2019 net earnings attributable to shareholders of $211 million ($2.31 per share), compared to a net loss of $29 million ($0.33 per share) for Q4 2018. Core net operating earnings were $203 million ($2.22 per share) for Q4 2019, compared to $159 million ($1.75 per share) in Q4 2018. The company's full year 2020 core net operating earnings guidance is between $8.75 and $9.25 per share.