Fitch affirms American Financial

Fitch Ratings said it affirmed all ratings of American Financial Group, Inc. and its annuity and supplemental insurance operations Great American Financial Resources, Inc.

These ratings include A- issuer default ratings for both and American Premier Underwriters, Inc., as well as A+ insurer financial strength ratings for the Great American Insurance Co. and members of its intercompany pool.

According to Fitch, American Financial's ratings continue to be based on its solid market position as a specialty property/casualty insurance organization, adequate statutory capital levels and favorable trends in underwriting results and profitability.

Partially offsetting these positives are American Financial's relatively high reinsurance leverage versus comparably rated peers and exposure to asbestos and other longer tail liabilities that add uncertainty, the agency added.

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