American Financial Group Posts Record Q3 Core EPS of $3.97, Declares $3.50 Special Dividend
American Financial Group posted record third-quarter core net operating earnings of $3.97 per share, up 48%, and declared a $3.50-per-share special dividend, according to its 8-K filed late Tuesday.
Net earnings rose to $282 million, or $3.40 per share, from $215 million, or $2.58, a year earlier. Core net operating earnings climbed to $329 million from $224 million, helped by higher net investment income, including $63 million of parent investment income from the sale of Charleston Harbor.
Record property and casualty profit
The specialty insurer reported record pretax property and casualty core operating earnings of $406 million, up from $328 million. Net written premiums grew 9%. AFG said average renewal rates, excluding workers' compensation, rose an estimated 6%, the company said.
Annualized return on equity was 22.3%, up from 18.2%, and annualized core operating return on equity reached 26.0%, up from 19.0%.
Net earnings included $47 million of after-tax non-core items, or $0.57 per share, compared with $9 million a year earlier.
Capital returned
The special dividend of $3.50 per share is payable Nov. 25, 2026. During the quarter, AFG repurchased $26 million of stock at an average price of $138.31 per share and paid regular dividends of $0.88 per share.
Book value per share was $57.12 at Sept. 30. Excluding accumulated other comprehensive income, book value per share was $62.29, and growth in that measure plus dividends was 5.5% for the quarter and 13.8% for nine months. Including AOCI, book value per share plus dividends declined 0.2% in the quarter, reflecting rising interest rates.
By the numbers
- Core EPS: $3.97, up 48%
- Net EPS: $3.40, up from $2.58
- P&C pretax core operating earnings: $406 million, a third-quarter record
- Net written premium growth: 9%
- Special dividend: $3.50 per share
Sources
- American Financial Group Form 8-K with third-quarter 2026 earnings release, filed Nov. 4, 2026 (accession 0001193125-26-446243)
This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.
Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.