• American Financial average return on tangible equity for 2023 was 22.63, a 14.6% decline from 2022.
• American Financial average return on tangible equity for 2022 was 26.5, a 22.15% decline from 2021.
• American Financial average return on tangible equity for 2021 was 34.04, a 432.71% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.