Company: AFGC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001042046-25-000020
Chunk: 15

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
 securities.

14

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 3TotalMarch 31, 2025Assets:Available for sale (“AFS”) fixed maturities:U.S. government and government agencies$180 $— $— $180 States, municipalities and political subdivisions— 871 4 875 Foreign government— 241 — 241 Residential MBS— 2,117 1 2,118 Commercial MBS— 41 — 41 Collateralized loan obligations— 1,241 — 1,241 Other asset-backed securities— 2,100 281 2,381 Corporate and other12 3,017 462 3,491 Total AFS fixed maturities192 9,628 748 10,568 Trading fixed maturities— 58 13 71 Equity securities434 39 297 770 Assets of managed investment entities (“MIE”)372 3,464 12 3,848 Total assets accounted for at fair value$998 $13,189 $1,070 $15,257 Liabilities:Contingent consideration — acquisitions$— $— $1 $1 Liabilities of managed investment entities361 3,354 11 3,726 Other liabilities — derivatives— 14 — 14 Total liabilities accounted for at fair value$361 $3,368 $12 $3,741 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 Commercial MBS— 51 — 51 Collateralized loan obligations— 1,237 — 1,237 Other asset-backed securities— 2,060 296 2,356