American Financial Group
| Company type | Public |
|---|---|
| Industry | Financial services |
| Founded | 1872 |
| Headquarters | Cincinnati, Ohio , United States |
Key people | Carl H. Lindner III (Co-CEO), S. Craig Lindner (Co-CEO) |
| Products | Insurance and investment services |
| Owner | Lindner family (majority) |
| Website | www |
American Financial Group, Inc. is a United States-based financial services holding company with its headquarters located in Cincinnati, Ohio. Its principal operations focus on insurance and investment activities.
Lines of business
The main insurance segment of American Financial Group functions under the name Great American Insurance Company, established in 1872, and concentrates on property and casualty insurance products. Its subsidiaries encompass Great American Custom, Mid-Continent Group, National Interstate, and Republic Indemnity. The range of insurance services includes coverage for equine risks, trucking, executive liability, fidelity and crime protection, as well as agribusiness. Additionally, Great American Financial Resources, a fully owned subsidiary, delivers annuities, life insurance policies, and supplemental insurance solutions to both individual clients and corporate entities.
Ownership of the company predominantly resides with the family of financier Carl Lindner, Jr., who took control in 1973 and maintained the chairman role until 2011. Currently, his sons, Carl H. Lindner III and S. Craig Lindner, hold the positions of co-chief executive officers.
History
In 2004, American Financial Group was positioned at number 486 on the Fortune 500 rankings. Throughout its history, the company has possessed various subsidiaries and real estate holdings such as The Mountain View Grand Resort & Spa (New Hampshire), The Cincinnatian (Ohio), The Biltmore (Florida), Le Pavillon (Louisiana), and Charleston Harbor Resort and Marina (South Carolina). The Great American Insurance Group secured the naming rights for Cincinnati’s Great American Ball Park.
In December 2006, the company divested assets related to the former Penn Central Railroad, including land beneath Grand Central Terminal and Metro-North Railroad tracks, selling them to Argent Ventures. Plans announced in 2007 outlined a consolidation of offices into the newly constructed Great American Insurance Building at Queen City Square, targeted for completion by 2011.
Following the expansion of corporate speech rights through the Citizens United v. Federal Election Commission ruling, American Financial became one of the earliest publicly traded Fortune 500 corporations to engage in political contributions. Carl Lindner, Jr., known for his significant support of Republican candidates, donated millions both personally and via the company—which owns a 42% share. In 2010, American Financial contributed $400,000 to the Republican-oriented PAC American Crossroads.
See also
External links
- Articles with short description
- Financial services companies established in 1872
- Companies listed on the New York Stock Exchange
- Holding companies established in 1872
- Companies based in Cincinnati
- Financial services companies of the United States
- Lindner family
- American companies established in 1872
- Companies in the S&P 400