American Financial Group to Sell Charleston Harbor Resort & Marina

American Financial Group (AFG) has announced agreements to sell Charleston Harbor Resort & Marina, a property it has owned since 2002 and significantly developed over the years. The resort includes two hotels, a large marina with 459 slips, a restaurant, retail space, and other amenities. The sale agreements involve a 60-day due diligence period, and if conditions are met, the transaction is expected to close in the second or third quarter of 2025. AFG anticipates a net, after-tax gain of approximately $100 million ($1.20 per share) from the sale.

AFG, through its subsidiary Great American Insurance Group, focuses primarily on property and casualty insurance and has a long history dating back to 1872. The company also noted standard forward-looking statement disclaimers regarding potential risks that may affect the transaction and future financial performance.

American Financial Group, Inc. (AFG) announced a special, one-time cash dividend of $2.00 per share of common stock. The dividend will be payable on March 28, 2025, to shareholders of record as of March 17, 2025. The company also provided details on its common stock repurchases during the first quarter of 2025, up to February 27, 2025.

This announcement was made through a press release, which was included as Exhibit 99.1 in the company's Form 8-K filing. The filing specifies that the information provided is not considered "filed" under the Securities Exchange Act of 1934 and is not subject to its associated liabilities.

The company’s securities, including its common stock (AFG) and multiple subordinated debentures, continue to be listed on the New York Stock Exchange.

American Financial Group, Inc. announced the election of Craig Lindner Jr. and David L. Thompson Jr. to its Board of Directors, effective immediately. Lindner, who has been with the company since 2002, currently serves as Divisional President of AFG Real Estate Investments, managing its commercial real estate and mortgage portfolio. Thompson is the Chairman, President, and COO of Great American Insurance Company and has held various leadership roles since joining in 2006.

Additionally, James E. Evans notified the Board of his decision not to stand for re-election at the 2025 Annual Meeting of Shareholders. He will continue to serve as a Director until the end of his current term and will remain as an Executive Consultant to the company. His departure is not related to any disagreement with the company.

American Financial Group, Inc. reported its results for the fourth quarter and full year of 2024. For Q4, net earnings were $255 million, or $3.03 per share, compared to $263 million, or $3.13 per share, in the same period of 2023. The decrease in net earnings was primarily due to non-core realized losses of $7 million ($0.09 per share) in Q4 2024, compared to net after-tax non-core realized gains of $25 million ($0.29 per share) in Q4 2023.

For the full year of 2024, net earnings per share rose to $10.57, compared to $10.05 in 2023. Return on equity (ROE) for the year was 19.0%, up from 18.8% in 2023.

Core net operating earnings for Q4 2024 were $262 million, or $3.12 per share, compared to $238 million, or $2.84 per share, in Q4 2023. This increase was driven by higher P&C net investment income, particularly improved returns on alternative investments, though partially offset by lower P&C underwriting profit. The core net operating earnings generated returns on equity of 19.3% for 2024, slightly down from 19.8% in 2023.

American Financial Group also announced that its overall average renewal rate increased by 8%, excluding workers’ compensation. For the full year, the company returned approximately $791 million in total capital to shareholders, which includes $545 million ($6.50 per share) in special dividends.