Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 24

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 (113)(76)2,311 Collateralized loan obligations1,106 5 4 (5)(1)1,100 Other asset-backed securities2,425 5 27 (44)(17)2,403 Corporate and other3,373 5 86 (26)60 3,428 Total fixed maturities$10,588 $16 $167 $(221)$(54)$10,518 December 31, 2024Fixed maturities:U.S. government and government agencies$176 $— $— $(3)$(3)$173 States, municipalities and political subdivisions905 — 3 (49)(46)859 Foreign government236 — 2 (1)1 237 Residential MBS2,122 1 22 (154)(132)1,989 Collateralized loan obligations1,243 4 10 (12)(2)1,237 Other asset-backed securities2,463 6 19 (69)(50)2,407 Corporate and other3,542 23 42 (65)(23)3,496 Total fixed maturities$10,687 $34 $98 $(353)$(255)$10,398 

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-QNOTES TO CONSOLIDATED FINANCIAL STATEMENTS — CONTINUED

Equity securities which are reported at fair value with holding gains and losses recognized in net earnings, consisted of the following at September 30, 2025 and December 31, 2024 (in millions):September 30, 2025December 31, 2024Actual CostFair ValueFair Value Over CostActual CostFair ValueFair Value Over CostCommon stocks$323 $384 $61 $304 $336 $32 Perpetual preferred stocks391 416 25 380 415 35 Total equity securities carried at fair value$714 $800 $86 $684 $751 $67 The following table summarizes investments accounted for using the equity method, by strategy (in millions):Net Investment IncomeCarrying ValueThree months ended September 30,Nine months ended September 30,September 30, 2025December 31, 202