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AI brief of an SEC Form 8-K · American Financial (AFG)

American Financial Group Q1 net earnings rise to $242 million; core EPS falls to $2.76

Mixed Impact 3 of 5 earnings Written later

American Financial Group reported first-quarter 2024 net earnings of $242 million ($2.89 per share), up from $212 million ($2.49 per share) a year earlier. Core net operating earnings fell to $231 million ($2.76 per share) from $247 million ($2.89 per share), which the company attributed to lower returns from its alternative investment portfolio, so the headline gain was driven mainly by non-core realized investment gains.

Key points

  • Net earnings were $242 million ($2.89 per share) versus $212 million ($2.49 per share) in Q1 2023, including $11 million of after-tax non-core realized gains.
  • Core net operating earnings were $231 million ($2.76 per share), down from $247 million ($2.89 per share), reflecting lower alternative investment returns.
  • Specialty P&C combined ratio was 90.1%, compared with 89.2% a year earlier; gross written premiums rose 8% to $2.336 billion.
  • Book value per share was $50.57 at March 31, 2024, and the company paid $3.21 per share in dividends in the quarter, including a $2.50 special dividend paid in February.

The filing

CompanyAmerican Financial (AFG)
Form8-K, current report
Filed with the SECMay 2, 2024, 7:34 AM ET
Accession number0001193125-24-128159

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 02, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.