Who owns great american insurance

Great American Insurance Group is a subsidiary of American Financial Group (AFG), a Fortune 500 company that primarily operates in the insurance and financial services sectors. Great American Insurance Group offers property and casualty insurance, annuities, and supplemental health insurance.

Its parent company, AFG, is publicly traded on the New York Stock Exchange under the ticker symbol AFG. Let’s delve into the ownership structure and background of Great American Insurance Group.

Ownership Structure

American Financial Group (AFG)

At the top of the ownership chain for Great American Insurance Group is American Financial Group (AFG). AFG was founded in 1959 by Carl H. Lindner Jr. and is headquartered in Cincinnati, Ohio. The company operates through its subsidiaries, which include Great American Insurance Group.

Founder: Carl H. Lindner Jr.

CEO: Carl H. Lindner III (as of my last update, though this may have changed)

Headquarters: Cincinnati, Ohio

Subsidiaries: Great American Insurance Group, among others

Great American Insurance Group

Great American Insurance Group is the operational arm of AFG that deals with insurance products and services. It comprises several subsidiary insurance companies that specialize in different types of insurance coverage, such as property and casualty insurance, annuities, and specialty insurance.

History of Great American Insurance Group

Early Years

Great American Insurance Group traces its roots back to 1872 when it was founded as German American Insurance Company in New York City. Over the years, through mergers, acquisitions, and expansions, the company evolved into what is now known as Great American Insurance Group, operating under the umbrella of American Financial Group.

Growth and Expansion

Under the leadership of Carl H. Lindner Jr., who acquired control of the company in the 1970s, Great American Insurance Group experienced significant growth and expansion. Lindner Jr. was known for his aggressive acquisition strategy, which helped the company expand its market presence and diversify its product offerings.

Acquisitions and Diversification

Over the years, Great American Insurance Group has made several strategic acquisitions to strengthen its position in the insurance industry. Some notable acquisitions include:

Republic Indemnity: Acquired in 2005, Republic Indemnity added workers’ compensation insurance to Great American’s portfolio, enhancing its offerings in the commercial insurance segment.

National Interstate Corporation: Acquired in 2016, National Interstate Corporation specializes in specialty property and casualty insurance, providing Great American with additional expertise and market reach.

Summit Holdings Southeast: Acquired in 2020, Summit Holdings Southeast expanded Great American’s footprint in the workers’ compensation insurance market, particularly in the southeastern United States.

These acquisitions have not only expanded Great American Insurance Group’s market reach but also diversified its product portfolio, making it a more comprehensive insurance provider.

Key Offerings and Market Presence

Property and Casualty Insurance

Great American Insurance Group is a prominent player in the property and casualty insurance market. It offers a wide range of insurance products, including:

Commercial Property Insurance: Coverage for businesses against property damage due to perils such as fire, theft, and natural disasters.

Commercial Liability Insurance: Protection against claims of bodily injury, property damage, and personal injury arising from business operations.

Workers’ Compensation Insurance: Coverage for medical expenses and lost wages for employees injured on the job.

Professional Liability Insurance: Coverage for professionals (e.g., doctors, lawyers, architects) against claims of negligence or malpractice.

These offerings cater to businesses of all sizes across various industries, providing them with the insurance protection they need to mitigate risks and safeguard their assets.

Annuities and Life Insurance

In addition to property and casualty insurance, Great American Insurance Group offers annuities and life insurance products. Annuities provide individuals with a steady stream of income during retirement, while life insurance offers financial protection to beneficiaries in the event of the policyholder’s death.

Specialty Insurance

Great American Insurance Group also specializes in niche insurance products, such as:

Aviation Insurance: Coverage for aircraft owners, operators, and manufacturers against risks associated with aviation operations.

Marine Insurance: Coverage for marine vessels, cargo, and related liabilities.

Surety Bonds: Financial guarantees that ensure contractual obligations are met by the bonded party.

These specialty insurance products cater to specific industries and risks, demonstrating Great American’s ability to provide tailored insurance solutions.


Great American Insurance Group, owned by American Financial Group, is a leading provider of insurance products and services. With a rich history dating back to the 19th century, the company has grown through strategic acquisitions and diversification of its offerings. Its presence in property and casualty insurance, annuities, and specialty insurance segments makes it a comprehensive insurance provider for businesses and individuals alike.

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