Thesis
American Financial Group (AFG) represents a compelling investment opportunity for the long-term investor looking for a steady compounding of capital. AFG's diversified business lines, consistent and industry leading underwriting results, and significant insider ownership should lead to their total shareholder returns continuing to outpace not only industry peers, but the broader market as a whole. AFG has under performed both the S&P 500 and a number of other specialty P&C underwriters over the last 2 years due to concerns about low interest rates negatively impacting their life insurance business and more recently