Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 63

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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3 assets were investments whose prices were determined based on financial information provided by third party asset managers. Approximately 2% ($17 million) of Level 3 assets were priced using non-binding broker quotes or pricing services, for which there is a lack of transparency as to the inputs used to determine fair value.Changes in balances of Level 3 financial assets and liabilities carried at fair value during the third quarter and first nine months of 2025 and 2024 are presented below (in millions). The transfers into and out of Level 3 were due to changes in the availability of market observable inputs. All transfers are reflected in the table at fair value as of the end of the reporting period.Total realized/unrealizedgains (losses) included inBalance at June 30, 2025Netearnings (loss)Other comprehensive income (loss)PurchasesandissuancesSales andsettlementsTransferintoLevel 3Transferout ofLevel 3Balance at September 30, 2025AFS fixed maturities:State and municipal$6 $— $— $— $(1)$— $— $5 Residential MBS1 — — — — 2 — 3 Collateralized loan obligations— — — — — — — — Other asset-backed securities284 1 (1)8 (15)— — 277 Corporate and other461 13 3 17 (82)— (12)400 Total AFS fixed maturities752 14 2 25 (98)2 (12)685 Trading fixed maturities13 1 — — — — — 14 Equity securities286 1 — 4 — — — 291 Assets of MIE11 (2)— 5 — — — 14 Total Level 3 assets$1,062 $14 $2 $34 $(98)$2 $(12)$1,004 Contingent consideration — acquisitions$(1)$— $— $— $— $— $— $(1)Total Level 3 liabilities$(1)$— $— $— $— $— $— $(1)Total realized/unrealizedgains (losses) included inBalance at June 30,