Great American Insurance Group is a leading provider of specialty commercial insurance, serving businesses and individuals across the United States. With a rich history dating back to 1872, the company is headquartered in Cincinnati, Ohio, and operates under the parent company, American Financial Group, Inc. Great American specializes in niche markets, offering tailored insurance solutions that set it apart from larger, more generalized insurers.
Key Services and Business Divisions
Great American Insurance Group focuses on commercial insurance and has built a reputation for providing specialized coverage to businesses in a wide range of industries. The company's business divisions include:
- Property and Casualty Insurance: A major division that provides coverage for industries such as agriculture, aviation, marine, and construction. They also offer specialized programs in professional liability, excess and surplus lines, and surety bonds.
- Annuities: Great American is known for its annuity products, offering fixed and indexed annuities designed to help individuals secure their financial futures.
This division’s focus on niche markets allows them to create customized insurance solutions that meet the unique needs of their clients, whether it's for small businesses or large corporations.
Employee Benefits and Compensation
Great American Insurance Group is dedicated to creating a supportive environment for its employees, with a robust benefits package designed to attract top talent. Actuaries at Great American can expect:
- Health Insurance: Comprehensive health, dental, and vision insurance options.
- Retirement Savings: A 401(k) plan with a generous company match, as well as access to a pension plan for long-term financial security.
- Life Insurance and Disability: Coverage for life insurance, alongside short- and long-term disability benefits.
- Paid Time Off: Generous PTO policies, including vacation, personal days, holidays, and sick leave.
- Parental Leave: Paid parental leave to support employees during key life events.
- Educational Support: Exam support, including reimbursement for actuarial exams, study materials, and exam prep time.
The company is also known for its wellness programs, which include fitness reimbursement, health screenings, and mental health support.
Compensation
Great American offers competitive compensation packages for its employees, with salary structures based on experience and job function. Actuaries at Great American are often eligible for performance-based bonuses in addition to their base salaries, with ample opportunities for career advancement within the organization.
Culture and Work Environment
Great American fosters a work culture that emphasizes innovation, collaboration, and growth. With a strong focus on professional development, the company offers career pathing programs, mentorship, and access to industry-leading training resources. Actuaries at Great American benefit from a flexible working environment, with options for remote or hybrid work arrangements in many cases.
Opportunities for Actuaries at Great American
Great American Insurance Group consistently seeks skilled actuarial professionals to join their team. Actuarial roles are available in a variety of areas, including pricing, reserving, financial reporting, and risk management. The company is dedicated to helping actuaries advance in their careers by offering full support for professional development, including exam assistance and career growth opportunities.
Why Actuaries Should Consider Great American
For actuaries looking for a dynamic and supportive work environment, Great American offers a compelling combination of specialized insurance work, professional development opportunities, and a strong benefits package. The company’s focus on niche markets presents unique challenges and learning opportunities for actuaries who want to develop deep expertise in specialized areas of insurance.