Company: AFGC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001042046-25-000011
Chunk: 213

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 213
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 AFG’s net core pretax loss outside of its property and casualty insurance segment (excluding realized gains and losses) totaled $177 million in 2023 compared to $171 million in 2022, an increase of $6 million (4%).

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The following table details AFG’s GAAP and core loss before income taxes from operations outside of its property and casualty insurance segment in 2024, 2023 and 2022 (dollars in millions):

Year ended December 31,% Change2024202320222024 - 20232023 - 2022Revenues:Net investment income$29 $40 $24 (28 %)67 %Other income — P&C fees111 125 89 (11 %)40 %Other income18 21 33 (14 %)(36 %)Total revenues158 186 146 (15 %)27 %Costs and Expenses:Property and casualty insurance — loss adjustment and underwriting expenses51 68 38 (25 %)79 %Other expense — expenses associated with P&C fees60 57 51 5 %12 %Other expenses (*)161 162 143 (1 %)13 %Costs and expenses, excluding interest charges on borrowed money272 287 232 (5 %)24 %Loss before income taxes, excluding realized gains and losses and interest charges on borrowed money(114)(101)(86)13 %17 %Interest charges on borrowed money76 76 85 — %(11 %)Core loss before income taxes, excluding realized gains and losses(190)(177)(171)7 %4 %Pretax non-core special A&E charge(14)(15)— (7 %)— %Pretax non-core gain (loss) on retirement of debt— 1 (9)(100 %)(111 %)GAAP loss before income taxes, excluding realized gains and losses$(204)$(191)$(180)7 %6 %

(*)Excludes pretax non-core special A&E charges of $14 million and $15 million in 2024 and 2023, respectively, a pretax non-core gain on retirement of debt of $1 million in 2023 and a pretax non-core loss on retirement of debt of $9 million in 2022.

Holding Company and Other — Net Investment Income

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