American Financial Sheds Annuities, Enjoys Big Boost In P&C
May 11, 2021 by Steve Morelli
American Financial is expecting a better year as the company sells Great American to MassMutual and exits the annuity business.
The American Financial Group plans to complete the sale of the Great American Life Insurance Co. in the second quarter. The deal allows American Financial to focus on its property/casualty business, which remains strong despite the increase weather-related catastrophes. Meanwhile, analysts say the sale will give MassMutual more access to banks, independent and independent agents.