Quarterly ResultApr 30, 2026, 07:03 AM
AFG Q1 Core EPS $2.47 (+36%); P&C Underwriting Profit +66%; $125M Resort Sale Gain
AI Summary
American Financial Group, Inc. reported strong first-quarter 2026 results, with core net operating earnings per share increasing 36% year-over-year to $2.47. The company's Specialty P&C operations delivered a 66% increase in underwriting profit and an improved combined ratio of 90.3%. Additionally, AFG reached a definitive agreement to sell the Charleston Harbor Resort & Marina, expecting a pretax core operating gain of approximately $125 million. The company also returned $259 million to shareholders through dividends and share repurchases.
Key Highlights
- Core net operating EPS increased 36% year-over-year to $2.47.
- Specialty P&C underwriting profit rose 66% year-over-year to $156 million.
- Combined ratio for Specialty P&C improved to 90.3% from 94.0% in Q1 2025.
- Definitive agreement to sell Charleston Harbor Resort & Marina for an expected $125 million pretax gain.
- Returned approximately $259 million to shareholders, including $125 million in special dividends.
- Gross written premiums increased 6% and net written premiums increased 3% year-over-year.
- Property & Transportation underwriting profit was $65 million, Specialty Casualty $34 million, and Specialty Financial $57 million.
- Annualized core net operating ROE was 17.0%.