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Home > Fortune 500 Companies > Amer Financial Group
Amer Financial Group
Amer Financial Group is a publicly traded company having a good stock performance result. Amer Financial Group is a fortune 500 stock listed company trading under AFG.
American Financial Group, Inc. the group's principal activity is to provide property and casualty insurance, on specialized commercial products for businesses through its subsidiaries. The company also provides sale of retirement annuities, life and supplemental health insurance products. The Group markets its life and supplemental health products in Puerto Rico and its property and casualty products in Mexico, Canada, Puerto Rico, Europe and Asia. In 2003, the Group sold Infinity Property and Casualty Corporation, a subsidiary providing primarily nonstandard automobile insurance.
American Financial Group, Inc. announced that, effective today through June 30, 2006, holders of its Senior Convertible Notes are entitled to convert their notes to AFG common stock resulting from the increased trading value of AFG's common stock during March. Under the Indenture governing the notes, holders may convert each of their notes into 11.5016 shares of AFG common stock if the closing sale price of such stock reached specified thresholds during the preceding calendar quarter. Through the operations of Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of retirement annuities, and supplemental health insurance products.
AFG's Senior Convertible Notes due June 2003 were issued at a price of 37.153 percent of the principal amount due at maturity, or 371.53 dollars per note. Cash interest is payable semiannually at a rate of 4 percent of issue price per year through June 2008, after which interest at 4 percent annually will be accrued and added to the carrying value of the notes. The Company may redeem the notes at any time on or after June 2, 2008 at an accreted value ranging from 371.53 dollars to 1,000 dollars per note at maturity. Holders may require AFG to purchase all or a portion of their notes at the accreted value on five-year anniversaries beginning June 2, 2008.
The company’s commitment to improvement is what sets them apart from competitors. Amer primary focus is on offering their customers the finest in Solutions, Supply and Service through dedication and excellence.
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