American Financial Group posts investor presentation on specialty property and casualty insurance operations
AFG•Investor presentation highlights specialty P&C results and portfolio mix
American Financial Group outlined its specialty property and casualty profile, citing a 91% combined ratio for the 12 months ended Dec. 31, 2025.
Management highlighted 13 consecutive years with a specialty P&C combined ratio below 94% through 2025, outpacing peers by 7.6 points.
Specialty P&C gross written premium totaled $10.7 billion in 2025; net written premium was $7.1 billion.
The investment portfolio carrying value was $17.1 billion at June 30, 2026; fixed maturities were 67%, with 97% investment grade.
Alternative investments totaled $2.8 billion, or 16% of cash and investments; annualized return was 7.1% in 2Q26.
