American financial group, inc. announces block reinsurance agreement with global atlantic; expected to result in $375 million to $400 million of additional excess capital at afg

Cincinnati--(business wire)--american financial group, inc. (nyse:afg) announced today that it has entered into a reinsurance agreement with commonwealth annuity and life insurance company (“commonwealth”), a subsidiary of global atlantic financial group limited (“global atlantic”). through its subsidiaries, global atlantic offers a broad range of retirement, life and reinsurance products, and is rated “a” by a.m. best. under the terms of the agreement, afg's annuity subsidiary, great american
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