American Financial Reports Record Q3 2026 Core Net Operating Earnings
American Financial (AFG) reported record quarterly core net operating earnings for the third quarter of 2026, driven by underwriting profits and one-asset sales. The company saw a significant 48% year-over-year increase in core net operating earnings per share. To capitalize on high interest rates, management invested approximately $1.5 billion into fixed maturity investments yielding near 6%. The insurer is maintaining strong pricing power, reporting renewal rate increases for 41 consecutive quarters. Management is also proactively managing risk by reducing exposure to difficult legal jurisdictions and trimming underperforming casualty accounts in California to protect underwriting margins. With high capital generation expected through 2027, the company remains positioned for acquisitions, share repurchases, or further special dividends.
Tickers: $AFG
Topics: dividend announcement earnings report fixed income investment insurance underwriting