Company: AFGC
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001140361-25-035246
Chunk: 9

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-09-17
Form: 424B5
Chunk 9
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 with major credit rating agencies, including with respect to the senior notes; |

| • | prevailing market interest rates and, in particular, the interest rates being paid by other companies similar to us; |

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| • | our operating results, financial condition, financial performance and future prospects; and |

| • | economic, financial, geopolitical, regulatory and judicial events that affect us, the industries and markets in which we are doing business and the financial markets generally, and political and social unrest around the world. |

The price of the senior notes may be adversely affected by unfavorable changes in these factors. The condition of the financial markets and prevailing interest rates have fluctuated in the past and are likely to fluctuate in the future. Such fluctuations could have an adverse effect on the price of the senior notes. In addition, credit rating agencies continually review their ratings for the companies that they follow, including us. The credit rating agencies also evaluate the insurance industry as a whole and may change our credit rating based on their overall view of our industry. A debt rating is not a recommendation to purchase, sell or hold the senior notes. Additionally, ratings may be lowered or withdrawn in their entirety at any time. A negative change in our rating or a withdrawal by a credit rating agency could have an adverse effect on the price of the senior notes. In addition, any decline in our ratings may make it more difficult for us to raise capital on acceptable terms. Redemption may adversely affect your return on the senior notes. We have the right to redeem some or all of the senior notes prior to maturity, as described under “Description of Senior Notes — Optional Redemption of the Senior Notes.” We may redeem the senior notes at times when prevailing interest rates may be relatively low compared to rates at the time of issuance of the senior notes. Accordingly, you may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as that of the senior notes.

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WHERE YOU CAN FIND MORE INFORMATION We are subject to the information and reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), under which we file annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission. The SEC maintains a website that contains reports, proxy statements and other information about issuers that file electronically with the Securities and Exchange Commission. The address of that site is www.sec.gov. You may also access these filings free of charge through