American Financial Group

The Inside P&C news team runs you through the earnings results for the day.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

Berding will retain his current role as president of American Money Management Corporation, AFG’s investment management services subsidiary.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The commentary follows AFG’s Q1 2023 earnings announcement on Tuesday, in which the carrier reported a 5.2-point deterioration in its P&C operations combined ratio to 89.2%.

The latest statutory data release shows commercial carriers continued to benefit from the extended pricing cycle and exposure growth propelled by inflation, although growth slowed year-on-year.

Public D&O and higher excess liability are two areas where the company is “not quite getting” to where it wants to be in terms of rates, co-CEO Carl Lindner said.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The property and transportation division’s CoR deteriorated 9.5 points to 90% in the fourth quarter, driven by its crop insurance operations.

Amid record high economic inflation, continuing supply chain issues and proliferating nuclear verdicts, carrier CEOs have emphasized the need to keep rate above loss costs during Q3 conference calls.

On a call with analysts, Lindner said AFG is assuming commercial auto liability loss cost trends at 7%.