CINCINNATI--(BUSINESS WIRE)--Great American Insurance Group announced today that it has begun a year-long celebration to commemorate the 150th anniversary of its lead company, Great American Insurance Company. The celebration is designed to thank employees, policyholders and agents for their support over the years.
Founded by William Heins on March 6, 1872, as German American Insurance Company, the company began operations as a fire insurance company with $1 million in capital. The first policy was issued in March of that same year to a factory that manufactured hard rubber combs. In 1918, during World War I, the company changed its name from German American to Great American Insurance Company.
Through the years, the company has remained steadfast to its commitment to being a financially strong company on which its policyholders and agents rely. This stability has helped it successfully navigate periods of uncertainty and various economic cycles, including World Wars, the Great Depression and major catastrophes.
Today, the member companies of Great American Insurance Group employ more than 6,500 people in over 120 locations worldwide. Great American Insurance Group is comprised of 34 diversified businesses that serve hundreds of niche industries.
“We are excited to celebrate this important milestone with our employees, policyholders and agents who have been an important part of our success,” said Carl Lindner III and S. Craig Lindner, Co-CEOs of Great American’s parent company, American Financial Group. “We are proud of the innovation and growth that has made Great American a top-tier specialty P&C insurer and a business essential to our economy. Our expertise enables businesses and organizations to operate, grow and prosper by helping their owners effectively manage risk. With 150 years of strength and experience behind us, we are well-positioned to act on opportunities and possibilities in 2022 and beyond.”
To follow the anniversary celebrations, please visit the company’s website at GAIG.com.
About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of “A+” (Superior) affirmed December 3, 2021). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.
