AFG Outlook Revised to Negative

The outlook on American Financial Group Inc. (AFG) and related entities was revised from stable to negative by S&P, which indicated it would be meeting with the company to discuss strategies for improving profitability. In the second quarter of 2000, AFG’s property/casualty business reported a combined ratio of 106.8 percent, compared to a 101.4 percent level reported for the same period a year earlier and 102.0 percent for all of 1999.