Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 72

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 72
---
es) and changes in unrealized appreciation (depreciation) included in AOCI related to fixed maturity securities are summarized as follows (in millions):Three months ended September 30, 2025Three months ended September 30, 2024Realized gains (losses)Realized gains (losses)Before ImpairmentsImpairment AllowanceTotalChange in UnrealizedBefore ImpairmentsImpairment AllowanceTotalChange in UnrealizedFixed maturities$— $(1)$(1)$74 $3 $(15)$(12)$241 Equity securities13 — 13 — 10 — 10 — Mortgage loans and other investments— — — — — — — — Total pretax13 (1)12 74 13 (15)(2)241 Tax effects(3)1 (2)(16)(3)3 — (51)Net of tax$10 $— $10 $58 $10 $(12)$(2)$190 Nine months ended September 30, 2025Nine months ended September 30, 2024Realized gains (losses)Realized gains (losses)Before ImpairmentsImpairment AllowanceTotalChange in UnrealizedBefore ImpairmentsImpairment AllowanceTotalChange in UnrealizedFixed maturities$(7)$(8)$(15)$201 $(2)$(17)$(19)$237 Equity securities32 — 32 — 29 — 29 — Mortgage loans and other investments— — — — — — — — Total pretax25 (8)17 201 27 (17)10 237 Tax effects(5)2 (3)(42)(6)3 (3)(50)Net of tax$20 $(6)$14 $159 $21 $(14)$7 $187 

23

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

All equity securities are carried at fair value through net earnings. AFG recorded net holding gains (losses) on equity securities during the third quarter and first nine months of 2025 and 2024 on securities that were still owned at September 30