Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 157

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 157
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c)30 Total revenues2,270 73 (12)2,331 Costs and Expenses:Insurance benefits and expenses1,884 — — 1,884 Expenses of managed investment entities— 72 (11)(b)(c)61 Interest charges on borrowed money and other expenses118 — — 118 Total costs and expenses2,002 72 (11)2,063 Earnings before income taxes268 1 (1)268 Provision for income taxes53 — — 53 Net earnings$215 $1 $(1)$215 Three months ended September 30, 2024Revenues:Net earned premiums$2,055 $— $— $2,055 Net investment income202 — (2)(b)200 Realized gains (losses) on securities(2)— — (2)Income of managed investment entities:Investment income— 99 — 99 Gain (loss) on change in fair value of assets/liabilities— (4)(5)(b)(9)Other income29 — (3)(c)26 Total revenues2,284 95 (10)2,369 Costs and Expenses:Insurance benefits and expenses1,948 — — 1,948 Expenses of managed investment entities— 95 (10)(b)(c)85 Interest charges on borrowed money and other expenses107 — — 107 Total costs and expenses2,055 95 (10)2,140 Earnings before income taxes229 — — 229 Provision for income taxes48 — — 48 Net earnings$181 $— $— $181 

(a)Includes income of $6 million in the third quarter of 2025 and $2 million in the third quarter of 2024, representing the change in fair value of AFG’s CLO investments and $3 million of income in both the third quarter of 2025 and 2024, in CLO management fees earned.

(b)Elimination of the change in fair value of AFG’s investments in the CLOs, including $8 million