Company: AFGC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001042046-25-000011
Chunk: 25

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-02-25
Form: 10-K
Item: Item 9C
Chunk 25
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2023 and a loss on retirement of debt of $9 million in 2022, and special charges of $14 million and $15 million in 2024 and 2023, respectively, to increase asbestos and environmental liabilities related to AFG’s former railroad and manufacturing operations.

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. AND SUBSIDIARIES    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — CONTINUED

The following table shows the components of underwriting profit, including significant segment expenses, for the Property and casualty insurance segment (in millions) for the years ended:202420232022Property and casualty insurance:Specialty:Property and transportation:Premiums earned$2,793 $2,519 $2,487 Losses and loss adjustment expenses1,952 1,741 1,735 Commissions and other underwriting expenses630 594 544 Underwriting profit$211 $184 $208 Specialty casualty:Premiums earned$2,967 $2,886 $2,659 Losses and loss adjustment expenses1,853 1,739 1,453 Commissions and other underwriting expenses774 772 706 Underwriting profit$340 $375 $500 Specialty financial:Premiums earned$1,032 $867 $698 Losses and loss adjustment expenses429 328 238 Commissions and other underwriting expenses469 429 346 Underwriting profit$134 $110 $114 Other Specialty:Premiums earned$244 $259 $241 Losses and loss adjustment expenses215 207 199 Commissions and other underwriting expenses88 88 84 Underwriting loss$(59)$(36)$(42)Other lines:Losses and loss adjustment expenses$6 $2 $4 Underwriting loss$(6)$(2)$(4)Total property and casualty insurance segment:Premiums earned$7,036 $6,531 $6,085 Losses and loss adjustment expenses4,455 4,017 3,629 Commissions and other underwriting expenses1,961 1,883 1,680 Underwriting profit$620 $631 $776 

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. AND SUBSIDIARIES    NOTES TO CONS