Company: AFGC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001042046-25-000020
Chunk: 12

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 of the United States represented 4% of AFG’s revenues in both the first three months of 2025 and 2024.The following tables (in millions) show AFG’s assets, revenues and earnings before income taxes by segment and sub-segment.March 31,2025December 31,2024AssetsProperty and casualty insurance (*)$25,704 $25,913 Other4,590 4,923 Total assets$30,294 $30,836 (*)Not allocable to sub-segments.

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-QNOTES TO CONSOLIDATED FINANCIAL STATEMENTS — CONTINUED

Three months ended March 31,20252024RevenuesProperty and casualty insurance:Net earned premiums:SpecialtyProperty and transportation$500 $520 Specialty casualty794 783 Specialty financial286 243 Total net earned premiums1,580 1,546 Net investment income170 205 Other income3 2 Total property and casualty insurance1,753 1,753 Other100 139 Total revenues before realized gains1,853 1,892 Realized gains on securities3 14 Total revenues$1,856 $1,906 Earnings Before Income TaxesProperty and casualty insurance:Underwriting:SpecialtyProperty and transportation$37 $60 Specialty casualty20 61 Specialty financial37 33 Other lines— (1)Total underwriting (a)94 153 Investment and other income, net (b)152 187 Total property and casualty insurance246 340 Other (c)(52)(50)Total earnings before realized gains and income taxes194 290 Realized gains on securities3 14 Total earnings before income taxes$197 $304 (a)Significant segment expenses, which are losses and loss adjustment expenses and commissions and other underwriting expenses, are shown in the table below by sub-segment.(b)Includes the amortization of intangibles and other miscellaneous expenses. (c)Includes the expenses of the managed investment entities, interest charges on borrowed money, salaries, depreciation and other general expenses.

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-QNOTES TO CONSOLIDATED FINANCIAL STATEMENTS — CONTINUED

The following table shows the components of underwriting profit