American Financial Group, Inc. and Its Insurance Operations Receive Rating Upgrades from S&P
07 10월 2010 - 3:19AM
Business Wire
Yesterday Standard & Poor’s Rating Services raised its
financial strength ratings for AFG’s core insurance subsidiaries to
‘A+’ from ‘A’. At the same time, S&P raised its counterparty
credit rating on American Financial Group to ‘BBB+’ from ‘BBB’. The
outlook on all of these companies is stable.
These ratings upgrades reflect Standard & Poor’s assessment
of the insurance group’s strong operating performance, led by the
underwriting performance of AFG’s P&C segment, which compares
favorably with industry-leading peers. Additionally, S&P cited
the strong performance of AFG’s Annuity and Supplemental Insurance
operations in lending diversification to its specialty property and
casualty businesses. Strong capital adequacy and appropriate
financial leverage and coverage metrics were also noted in
supporting these ratings upgrades.
Companies Receiving S&P Rating
Upgrade:Great American Insurance Co. and Pool
subsidiariesAmerican Empire Surplus Lines Insurance Co. and Pool
subsidiaryRepublic Indemnity Co. of America and Pool
subsidiaryMid-Continent Casualty Co. and Pool subsidiariesGreat
American International Insurance Ltd.Great American Life Insurance
Co.Annuity Investors Life Insurance
Carl H. Lindner III and S. Craig Lindner, Co-Chief Executive
Officers of AFG, issued this statement, “We are pleased to see the
efforts of our management team and employees recognized with these
ratings upgrades.”
About American Financial Group, Inc.
American Financial Group is an insurance holding company, based
in Cincinnati, Ohio with assets in excess of $30 billion. Through
the operations of Great American Insurance Group, AFG is engaged
primarily in property and casualty insurance, focusing on
specialized commercial products for businesses, and in the sale of
traditional fixed, indexed and variable annuities and a variety of
supplemental insurance products. Great American Insurance Group’s
roots go back to 1872 with the founding of its flagship company,
Great American Insurance Company.
AFG’s common stock is listed and traded on the New York Stock
Exchange and the NASDAQ Global Select Market under the symbol
AFG.
American Financial (NYSE:AFG)
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American Financial (NYSE:AFG)
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