American Financial Group (AFG) News

American Financial Group Agrees to Sell Run-Off Lloyd’s Insurer Neon to RiverStone

American Financial Group Inc. announced it has reached a definitive agreement to sell GAI Holding Bermuda and its subsidiaries, comprising the legal entities that own its Lloyd’s of London insurer, Neon, to RiverStone Holdings Ltd. Upon closing of the sale, …

American Financial Group Promotes Hertzman to Sr. VP, CFO

American Financial Group Inc., headquartered in Cincinnati, Ohio, has promoted Brian S. Hertzman to senior vice president and chief financial officer. Hertzman joined AFG in 1991 and has held positions of increasing responsibility within the company’s finance and accounting areas …

Consolino Resigns as Executive VP, CFO at American Financial Group

Joseph E. (Jeff) Consolino has resigned from his position of executive vice president and CFO at Cincinnati, Ohio-based American Financial Group Inc., the company said. Effective June 12, Consolino leaves AFG to pursue another opportunity in the insurance industry. In …

American Financial Group Decides to Exit Lloyd’s, Putting Neon into Run-off

American Financial Group (AFG) disclosed it will exit the Lloyd’s of London insurance marketplace in 2020, which it joined in 2008 through an acquisition. AFG will place its Lloyd’s subsidiaries including its Lloyd’s managing agency, Neon Underwriting Ltd., into run-off. …

Reith to Step Down as Group CEO of Neon

American Financial Group Inc. announced that Martin Reith intends to resign his executive roles with Neon, including stepping down as group CEO of Neon, effective Sept. 30, 2019. He will remain a member of the Neon Underwriting Ltd. (NUL) Board …

National Interstate Accepts $660M Buyout by American Financial

National Interstate Corp., the provider of insurance to the transportation industry, accepted majority-owner American Financial Group Inc.’s sweetened bid of $32 a share to buy the stock that it doesn’t already own. The offer values National Interstate at about $660 …

American Financial Offers to Buy Rest of Insurer National Interstate for $293M

About two years after withdrawing a similar offer, American Financial Group Inc. is proposing to acquire all of the outstanding common shares of specialty transportation insurer National Interstate Corp. that its subsidiary, Great American Insurance Co., does not already own. …

Cincinnati-Based American Financial Group Promotes Weiss to VP

Insurance holding company American Financial Group Inc., headquartered in Cincinnati, Ohio, has promoted Mark A. Weiss to vice president. Weiss joined AFG in 2010 and most recently served as assistant vice president and assistant general counsel. In addition, he serves …

Liberty Mutual Selling Workers’ Comp Unit Summit Southeast to American Financial

Liberty Mutual Insurance said it has agreed to sell Summit Holdings Southeast Inc. and its related companies to American Financial Group (AFG) in an all-cash transaction valued at $250 million. Based in Lakeland, Florida, Summit sells workers’ compensation in the …