American Financial Group, Inc. · NYSE:AFG
American Financial — Q1 2003 Earnings Presentation
9 slides from American Financial's earnings presentation, May 6, 2003
Slide 1: Review of First Quarter 2003
— = AMERICAN FINANCIAL GROUP, ING. REVIEW OF FIRST QUARTER 2003 MAY 1, 2003
Slide 2: Forward Looking Statements
aa AMERICAN FINANCIAL GROUP ee AMERICAN FORWARD LOOKING STATEMENTS FIA CAL Certan statements may be made at fhis conference, as well as inclided in this decument, that may be Considered “forwarcHooking statements” andare based on estimates, assunpilons and projections vhich management believes are r
Slide 3: Core Earnings from Insurance Operations
AMERICAN FINANCIAL GROUP — CORE EARNINGS FROM INSURANCE Awixican ‘FINANCIAL OPERATIONS Fao 2000 2001 2002 $1.10 $1.85 $2.42 4ST QUARTER 2002 2003 $.53 3.63
Slide 4: First quarter highlights
a | AMERICAN FINANCIAL GROUP Pe, AMERICAN 2003 FIRST QUARTER HIGHLIGHTS Fal Core operating earnings of §.63 per share = Inline with the range of analyst estimates Net earnings of $.36 per share, Includes the loss from Infinity public offering partly offset by certain tax benefits @ Combined ratio of
Slide 5: Specialty Group
ee AMERICAN FINANCIAL GROUP Aguacere 2003 FIRST QUARTER HIGHLIGHTS =" Fixancrar Specialty Group - Combined Ratio = 97.9% -- .7 point Improvement over 01 2002 -- Impacted by higher losses from severe weather -- 1 2003: $5.1 million, or 4.2 points == Q1 2002: $2.6 million, or .7 points + Underwriting
Slide 6: Personal Group
ee AMERICAN FINANCIAL GROUP Aguacere 2003 FIRST QUARTER HIGHLIGHTS =" Fixancrar @ Personal Group - Combined Ratio = 95.5% - 6.6 points improvement over Q1 2002 - Include Infinity's operations through mid-February - Benefits of rate & re-underwriting actions, plus expense reductions
Slide 7: Annuity, Life & Health Group
ee AMERICAN FINANCIAL GROUP Aguacere 2003 FIRST QUARTER HIGHLIGHTS =" Fixancrar Annuity, Life & Health Group - Statutory premiums 12% higher than Q1 2002 - Reflects addition of several new fixed annuity agents & products - Operating earnings below 2002 first quarter - Impact of low interest rate env
Slide 8: Summary & Outlook
ee AMERICAN FINANCIAL GROUP a a SUMMARY & OUTLOOK MER ETNANCIAL ¢-¢ + © Improving operating results Solid management team with strong expertise in a variety of niche markets Solid market positions in many business lines Optimistic about growth and profitability opportunities in specialty commercial
Slide 9: AMERICAN >
—— AMERICAN > FINANCIAL GROUP, INC.
American Financial Group — Q1 2003 Earnings Presentation on 6ix