American Financial Group - M&A Summary and Business Overview

InsuranceCompany

American Financial Group M&A Summary

American Financial Group has acquired 4 companies, including 2 in the last 5 years. It has also divested 4 assets.

American Financial Group’s largest acquisition to date was in 2014, when it acquired Summit Holding Southeast for $250M. It’s largest disclosed sale occurred in 2021, when it sold Great American Insurance to Massachusetts Mutual Life Insurance for $3.5B. American Financial Group has acquired in 4 different US states. The Company’s most targeted sectors include insurance (75%) and information technology (25%).

American Financial Group Business Overview

Where is American Financial Group headquartered?

American Financial Group is headquartered in Cincinnati, Ohio.

What is American Financial Group’s revenue?

American Financial Group disclosed revenue of 6,773M USD for 2022 and 6,231M USD for 2021.

How many employees does American Financial Group have?

American Financial Group has 6,900 employees.

What sector is American Financial Group in?

American Financial Group is an insurance company.

When was American Financial Group founded?

American Financial Group was founded in 1872.

M&A Summary

  • M&A Total Activity8
    • M&A Buy Activity4
    • M&A Sell Activity4
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 4
  • M&A Advisors 1

American Financial Group

American Financial Group, Inc.

301 East Fourth Street,
Cincinnati, Ohio 45202
United States,
(513) 579 2121
www.afginc.com

American Financial Group is a holding company that, through the operations of Great American Insurance Group, is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets. American Financial Group was incorporated in 1872 and is based in Cincinnati, Ohio.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 2 - - 1 1 - 4
vol $278M $240M $518M
Sell (0.2/yr) # 3 - 1 - - - 4
vol $305M $3.5B $3.8B
  8

Most Recent M&A

Company Date Value Type
Crop Risk Services 2023-05-02 240M USD Divestiture
Decatur, Illinois · www.cropriskservices.com
Verikai, Inc. 2022-01-18 - Add-on Acquisition
San Francisco, California · www.verikai.com
Great American Insurance Co. (Great American Life Insurance Co.) 2021-01-27 3.5B USD Divestiture
Cincinnati, Ohio · www.greatamericaninsurancegroup.com
ABA Insurance Services, Inc. 2018-10-11 28M USD Add-on Acquisition
Shaker Heights, Ohio · www.abais.com
Continental General Insurance Co. 2015-12-24 - Divestiture
Omaha, Nebraska · www.continentalgeneral.com
United Teacher Associates Insurance Co. 2015-12-24 - Divestiture
Austin, Texas · www.utainteractive.com
Summit Holding Southeast, Inc. 2014-01-09 250M USD Divestiture
Lakeland, Florida · www.summitholdings.com
Great American Supplemental Benefits Group 2012-05-10 305M USD Divestiture
Austin, Texas · www.gasbinsurance.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Insurance 3 (75%) 518M (100%) 4 (100%) 3.8B (100%)
Information Technology 1 (25%) - - -
Total 4 $518M 4 $3.8B

By Geo

State/Country Buy Value Sell Value
United States 4 518M 4 3.8B
  Ohio 1 28M 1 3.5B
  Texas - - 2 305M
  Illinois 1 240M - -
  Florida 1 250M - -
  California 1 - - -
  Nebraska - - 1 -
Total 4 $518M 4 $3.8B

Top M&A Advisors

Legal Deals
Skadden, Arps, Slate, Meagher & Flom
2

Deal Values

buy # Total
$100M to $1B 2 $490M
< $100M 1 $28M
TOTAL $518M
Largest Summit Holding Southeast, Inc.
$250M (2014-01-09)
sell # Total
> $1B 1 $3.5B
$100M to $1B 1 $305M
TOTAL $3.8B
Largest Great American Insurance Co. (Great American Life Insurance Co.)
$3.5B (2021-01-27)

M&A Connections

Deals
Acquired from
Strategic(s)
25%
1 (25%)
Divested to
Strategic(s)
100%
4 (100%)

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