Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 61

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-QNOTES TO CONSOLIDATED FINANCIAL STATEMENTS — CONTINUED

Assets and liabilities measured and carried at fair value in the financial statements are summarized below (in millions):Level 1Level 2Level 3TotalSeptember 30, 2025Assets:Available for sale (“AFS”) fixed maturities:U.S. government and government agencies$167 $3 $— $170 States, municipalities and political subdivisions— 848 5 853 Foreign government— 253 — 253 Residential MBS— 2,308 3 2,311 Collateralized loan obligations— 1,100 — 1,100 Other asset-backed securities— 2,126 277 2,403 Corporate and other1 3,027 400 3,428 Total AFS fixed maturities168 9,665 685 10,518 Trading fixed maturities— 66 14 80 Equity securities459 50 291 800 Assets of managed investment entities (“MIE”)269 3,689 14 3,972 Other assets — derivatives— 4 — 4 Total assets accounted for at fair value$896 $13,474 $1,004 $15,374 Liabilities:Contingent consideration — acquisitions$— $— $1 $1 Liabilities of managed investment entities260 3,561 13 3,834 Other liabilities — derivatives— 5 — 5 Total liabilities accounted for at fair value$260 $3,566 $14 $3,840 December 31, 2024Assets:Available for sale fixed maturities:U.S. government and government agencies$173 $— $— $173 States, municipalities and political subdivisions— 858 1 859 Foreign government— 237 — 237 Residential MBS— 1,988 1 1,989 Collateralized loan obligations— 1,237 — 1,237 Other asset-backed securities— 2,111 296 2,407 Corporate and other12 3,014 470