Company: AFGC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001042046-25-000024
Chunk: 94

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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10,844 Total assets$26,871 $4,140 $(175)$30,836 Liabilities:Unpaid losses and loss adjustment expenses and unearned premiums$17,763 $— $— $17,763 Liabilities of managed investment entities— 4,091 (126)(*)3,965 Long-term debt and other liabilities4,642 — — 4,642 Total liabilities22,405 4,091 (126)26,370 Shareholders’ equity:Common Stock and Capital surplus1,495 49 (49)1,495 Retained earnings3,211 — — 3,211 Accumulated other comprehensive income (loss), net of tax(240)— — (240)Total shareholders’ equity4,466 49 (49)4,466 Total liabilities and shareholders’ equity$26,871 $4,140 $(175)$30,836 

(*)Elimination of the fair value of AFG’s investment in CLOs and related accrued interest.

40

Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-QManagement’s Discussion and Analysis of Financial Condition and Results of Operations — Continued

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS

Before CLOConsol. (a)ManagedInvestmentEntitiesConsol.EntriesConsolidatedAs ReportedThree months ended June 30, 2025Revenues:Net earned premiums$1,647 $— $— $1,647 Net investment income186 — (2)(b)184 Realized gains (losses) on securities2 — — 2 Income of managed investment entities:Investment income— 68 — 68 Gain (loss) on change in fair value of assets/liabilities— — (4)(b)(4)Other income29 — (2)(c)27 Total revenues1,864 68 (8)1,924 Costs and Expenses:Insurance benefits and expenses1,541 — — 1,541 Expenses of managed investment entities— 68 (8)(b)(c)60 Interest charges on borrowed money and other expenses94 — — 94 Total costs and expenses