American Financial Group, Inc. (AFG) history, profile and corporate video
American Financial Group, Inc. (AFG) is a financial services holding company headquartered in Cincinnati, Ohio, United States.
HISTORY
American Financial Group traces its history to 1959 when American Financial Corporation was founded, being engaged primarily in providing savings and loans.
The company’s insurance operations are members of Great American Insurance Group, whose history dates back to 1872 when Great American Insurance Group’s founding insurance company, German American Insurance Company, was established.
In 1918, as a result of World War I, the company changes its name from German American to Great American Insurance Company.
In 1968, Great American Insurance Company was acquired by National General Corporation (NGC) and became a subsidiary of NGC, a conglomerate that holds an eclectic mix of businesses, which include motion pictures, a publishing company, computer technology and fast food.
In 1973, the businessman Carl H. Lindner Jr. acquired a majority stock ownership of Great American’s parent company, National General Corporation (NGC).
In 1974, Carl H. Lindner merged NGC into American Financial Corporation (AFC) and disposed of many of the non-insurance assets acquired as a result of the merger.
In 1983, AFG acquired Mid-Continent Casualty Company.
In 1992, Great American Custom was founded.
In 1995, American Financial Corporation (AFC) combined with American Premier Underwriters to form the publicly traded organization American Financial Group, Inc., listed on the New York Stock Exchange (NYSE: AFG).
In 2000, the Financial Institution Services was established.
In 2005, the company acquired Farmer’s Crop Insurance Alliance.
In 2007, AFG acquired all minority shares of Great American Financial Resources, Inc.
In 2008, AFG acquired Strategic Comp & Marketform Group Ltd. That year, the Environmental Division was also established.
In 2010, Vanliner was acquired.
In 2012, AFG acquired Employers Comp Associates (ECA). That year, the Public Sector Division was also established.
In 2013, the Professional Liability Division was established.
In 2014, AFG acquired Summit Holding Southeast, Inc. The Aviation Division was also established that year.
In 2015, Great American’s Singapore branch and M&A Liability Division were established.
In 2018, AFG acquired Tank Owner Members Insurance Company (TOMIC) business and ABA Insurance Services Inc. (ABAIS).
In 2019, the Atlas Financial paratransit business was acquired, and the Accident & Health Division was established.
In 2021, the Annuity Business was sold to MassMutual.
OPERATIONS
Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance (“P&C”), focusing on specialized commercial products for businesses. The AFG’s Specialty P&C Group is comprised of over 30 diversified businesses offering a wide range of specialty commercial coverages in three major groupings: Property and Transportation, Specialty Casualty and Specialty Financial.
U.S. Operations
- ABA Insurance Services
- Accident & Health (pomi)
- AgriBusiness®
- Alternative Markets
- Aviation
- Bond
- Crop
- Cyber Risk
- Environmental
- Equine Mortality
- Excess Liability
- Executive Liability
- FCIA – Trade Credit & Political Risk
- Fidelity / Crime
- Financial Institution Services
- Great American Custom
- Great American Risk Solutions
- Mergers & Acquisitions Liability
- Mid-Continent Group
- National Interstate
- Ocean Marine
- Professional Liability
- Property & Inland Marine
- Public Sector
- Republic Indemnity
- Specialty Equipment
- Specialty Human Services
- Strategic Comp
- Summit
- Trucking
- Unemployment Risk Solutions
- Vanliner
International Operations
- Canadian Branch
- Canada – Trade Credit
- El Aguila
- Great American Europe
- Great American P&C Mexico
- Singapore Branch
With over 7,500 employees in more than 120 locations worldwide, American Financial Group, Inc. is considered one of the largest companies in the specialty property and casualty marketplace. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.greatamericaninsurancegroup.com.
**Video published on YouTube by “”.