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

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 dates.Less Than Twelve MonthsTwelve Months or MoreUnrealizedLossFairValueFair Value as% of CostUnrealizedLossFairValueFair Value as% of CostJune 30, 2025Fixed maturities:U.S. government and government agencies$— $30 100%$(1)$84 99%States, municipalities and political subdivisions(5)129 96%(43)469 92%Foreign government— — —%— 49 100%Residential MBS(1)192 99%(127)903 88%Collateralized loan obligations— 58 100%(8)204 96%Other asset-backed securities(1)298 100%(46)973 95%Corporate and other(4)258 98%(34)972 97%Total fixed maturities$(11)$965 99%$(259)$3,654 93%December 31, 2024Fixed maturities:U.S. government and government agencies$— $35 100%$(3)$105 97%States, municipalities and political subdivisions(5)256 98%(44)470 91%Foreign government— 98 100%(1)50 98%Residential MBS(6)452 99%(148)916 86%Collateralized loan obligations— — —%(12)247 95%Other asset-backed securities(4)332 99%(65)1,217 95%Corporate and other(10)605 98%(55)1,151 95%Total fixed maturities$(25)$1,778 99%$(328)$4,156 93%At June 30, 2025, the gross unrealized losses on fixed maturities of $270 million relate to approximately 1,100 securities. Investment grade securities (as determined by nationally recognized rating agencies) represented approximately 96% of the gross unrealized loss and 96% of the fair value of securities with unrealized losses.To evaluate fixed maturities for expected credit losses (impairment), management considers whether the unrealized loss is credit-driven or a result of changes in market interest rates, the extent to which fair value is less than cost basis, historical operating, balance sheet and cash flow data