---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-022138"
form_type: "8-K"
ticker: "AFG"
cik: "0001042046"
company_name: "AMERICAN FINANCIAL GROUP INC"
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T01:41:53.167171+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# AFG reports record FY2022 core EPS $11.63; declares $4 special dividend; guides FY2023 core EPS $11-$12

## Summary
- Q4 core net operating earnings $2.99 per share vs $4.12 YoY; FY2022 record core EPS $11.63, core ROE 21.2%.
- Board declares $4.00 per share special cash dividend payable Feb 28, 2023; aggregate ~$340M.
- FY2023 core EPS guidance $11.00-$12.00, assuming 7% alternative investment return and average crop year.
- P&C net written premiums grew 11% in FY2022; Q4 combined ratio 86.6% (86-88% guided for FY2023).
- Book value $47.56; adjusted book value $53.73; excess capital $1.41B; $1.23B returned to shareholders in FY2022.

## SEC filing metadata
- accession: 0001193125-23-022138
- form_type: 8-K
- ticker: AFG
- cik: 0001042046
- company_name: AMERICAN FINANCIAL GROUP INC
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042046/000119312523022138/0001193125-23-022138-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042046/000119312523022138/d406886d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-022138
- JSON: https://secwatch.observer/filing/0001193125-23-022138.json
- Plain text: https://secwatch.observer/filing/0001193125-23-022138.txt

## Key facts
- Earnings Releases
  AMERICAN FINANCIAL GROUP INC reported Full Year 2022 results: EPS $10.53.
  - Period: Full Year 2022
  - EPS: $10.53
  - Result: reported results
  source text: Net earnings for the full year of 2022 were $10.53 per share, compared to $23.30 per share in 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1042046/000119312523022138/0001193125-23-022138-index.htm
- Earnings Releases
  AMERICAN FINANCIAL GROUP INC reported Fourth Quarter 2022 results: net income $276 million, EPS $3.24.
  - Period: Fourth Quarter 2022
  - Net income: $276 million
  - EPS: $3.24
  - Result: reported results
  source text: CINCINNATI – February 1, 2023 – American Financial Group, Inc. (NYSE: AFG) today reported 2022 fourth quarter net earnings of $276 million ($3.24 per share) compared to $355 million ($4.18 per share) in the 2021 fourth quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1042046/000119312523022138/0001193125-23-022138-index.htm
- Earnings Releases
  AMERICAN FINANCIAL GROUP INC reported Full Year 2023 results: EPS $11.00 - $12.00 per share. Guidance initiated.
  - Period: Full Year 2023
  - EPS: $11.00 - $12.00 per share
  - Guidance: initiated
  - Result: guidance update
  source text: Full year 2023 core net operating earnings guidance established in the range of $11.00 - $12.00 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1042046/000119312523022138/0001193125-23-022138-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.