American Financial Group held its Q2 2026 earnings call with Co-CEOs Carl Lindner III, S. Craig Lindner, CFO Brian Hertzman, and IR VP Diane Weidner.
Core net operating earnings were $2.82 per share, up 32% year over year; annualized core operating ROE was 19.2%.
Net investment income in P&C operations rose 23%; fixed maturities yielded about 5.5%; alternative investments returned 7.1% annualized.
The sale of Charleston Harbor Resort & Marina is expected to close in Q3 2026; pretax core operating gain is seen at about $125 million, or $1.2 per share.
Specialty P&C combined ratio was 91.5%; favorable prior-year reserve development was 3.4 points; net written premiums rose 6%; renewal pricing increased about 4%.
AFG•
