The 7 Latest Financial Updates On Great American Insurance Company You Need To Know In 2025

Great American Insurance Company (GAIC) continues to solidify its position as a dominant force in the specialized commercial insurance market, with a flurry of strategic activities and strong financial performance marking the current year. As of December 15, 2025, the company has announced significant acquisitions, new product collaborations, and key leadership changes, reinforcing its commitment to niche Property & Casualty (P&C) segments.

This deep dive into the insurer's most recent developments is essential for brokers, investors, and business owners who rely on Great American’s stability and expertise. The focus remains on expanding its specialty portfolio, leveraging technology, and maintaining its century-long record of superior financial strength.

Great American Insurance Company: A Current Corporate Profile

Great American Insurance Company is not a standalone entity but a key component of the Great American Insurance Group, which operates as a subsidiary of the publicly traded financial holding company, American Financial Group, Inc. (AFG). This structure provides significant capital backing and operational stability.

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The company maintains a singular focus on specialized commercial Property & Casualty (P&C) insurance products, serving businesses across a wide spectrum of industries. Its corporate headquarters are located in the Great American Insurance Group Tower in Cincinnati, Ohio.

Key Corporate Facts and Leadership

• Parent Company: American Financial Group, Inc. (AFG)
• Headquarters: Great American Insurance Group Tower, Cincinnati, Ohio
• Primary Focus: Specialized Commercial Property & Casualty (P&C) Insurance
• Co-Presidents, AFG & GAIG: Carl H. Lindner III and S. Craig Lindner
• President & COO, P&C Operations: David L. Thompson Jr.
• Historical Financial Strength: Has held an A.M. Best rating of "A" (Excellent) or higher for over 110 years.

Strategic Expansion: Acquisitions and Collaborations in 2025

The most compelling recent news surrounding Great American Insurance Group involves its aggressive strategy to expand its specialty P&C portfolio through both acquisition and strategic collaboration. These moves highlight the company’s intent to capture market share in high-growth, specialized sectors.

1. Acquisition of Radion Health, Inc. (July 2025)

In a major move to bolster its presence in the healthcare sector, Great American Insurance Group announced the acquisition of Radion Health, Inc. in July 2025. Radion is a specialized managing general underwriter (MGU) that focuses on providing healthcare coverage solutions specifically for small and midsize businesses. This acquisition immediately expands Great American’s reach and expertise in the complex and growing Healthcare Liability and Medical Stop Loss markets, integrating a new set of specialized underwriting talent and distribution channels.

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2. Collaboration with Breeze for Ocean Marine Insurance (July 2025)

The company’s Ocean Marine Division entered into a new collaboration with Breeze in July 2025. This partnership is designed to enhance the offering and distribution of Ocean Marine Insurance products. This division provides essential coverage for cargo, hulls, and marine liabilities, and the collaboration is expected to introduce technological efficiencies to the underwriting and claims process, benefiting clients in the maritime industry.

3. Environmental Expansion into Mexico (December 2025)

Demonstrating international growth, Great American’s Environmental Division announced a collaboration with División Daños México in December 2025. This partnership is aimed at expanding the availability of Great American’s specialized Environmental Liability and Pollution Coverage product offerings into the Mexican market. This signals a strategic focus on cross-border risk management and environmental compliance, a critical area for multinational businesses.

Unwavering Financial Strength and Capital Strategy

A primary draw for commercial clients to Great American is its exceptional and long-standing financial stability. The company’s continued high ratings and sophisticated capital management strategies underscore its reliability as a carrier.

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4. Superior Financial Ratings Confirmed

Great American Insurance Company continues to hold a strong A.M. Best rating of “A+” (Superior). This rating, which the company has maintained at "A" or better for over 110 consecutive years, is a testament to its strong balance sheet, favorable operating performance, and appropriate enterprise risk management. Furthermore, the company’s affiliates, such as Great American Spirit Insurance Company, also hold superior ratings, providing confidence across the entire group.

5. Securing the Riverfront Re Cat Bond (2025)

In a key move to manage its catastrophe risk exposure, Great American Insurance Group successfully secured $310 million of multi-peril collateralized reinsurance through its Riverfront Re Ltd. (Series 2025-1) catastrophe bond. This financial instrument helps transfer peak catastrophe risks—such as those related to hurricanes, earthquakes, and severe weather events—to the capital markets, further stabilizing its ability to pay large claims and protecting its surplus.

Product Innovation and Operational Excellence

Beyond high-level corporate finance, Great American has been active in refining its product suite and recognizing operational excellence within its family of companies.

6. Recent Product and Division Milestones

The company’s focus on niche specialization is evident in its recent product launches:

• Cornerstone Complete®: Launched in June 2024 by the Property & Inland Marine Division, this is a new product designed to streamline and enhance coverage for complex property risks.
• pomi® (Accident & Health): The Accident & Health Division rolled out new product offerings in July 2024, focusing on specialized group and individual health solutions.
• Specialty Human Services: The promotion of Kevin Duke to Divisional President in May 2025 signals a continued investment in this niche sector, which provides customized coverage for social service organizations.

7. Subsidiary Recognition as a Top Workplace (2025)

Operational excellence extends to the company culture. National Interstate Insurance Company, a key subsidiary of Great American Insurance Group, was recognized as a recipient of the 2025 Top Workplaces USA award. This recognition highlights the group’s commitment to employee satisfaction and a positive work environment, which directly correlates to strong customer service and underwriting performance.

The Great American Specialty P&C Ecosystem (Topical Authority Entities)

Great American Insurance Group's strength lies in its diverse ecosystem of specialized divisions, each acting as an expert in a specific niche. This broad, yet focused, approach allows it to provide tailored Commercial Products and achieve high Topical Authority. Key divisions and entities include:

• American Financial Group (AFG)
• Great American Insurance Group
• Great American Tower
• Great American Spirit Insurance Company
• Great American Risk Solutions (Surplus Lines)
• Radion Health, Inc. (Acquired MGU)
• Ocean Marine Division
• Environmental Division
• División Daños México (Collaboration Partner)
• Property & Inland Marine Division
• Accident & Health (pomi®) Division
• Specialty Human Services Division
• Specialty Construction
• Executive Liability
• General Liability
• Fidelity and Surety Bonds
• Crop Insurance
• National Interstate Insurance Company (Subsidiary)
• Riverfront Re Ltd. (Cat Bond Entity)
• Cornerstone Complete® (Product)
• Medical Stop Loss Coverage