Company: AFGC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001042046-25-000020
Chunk: 86

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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$— $(39)$154 $— $154 

39

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

OtherP&CConsol. MIEsHolding Co., other and unallocatedTotalNon-core reclassGAAP TotalThree months ended March 31, 2024Revenues:Net earned premiums$1,546 $— $— $1,546 $— $1,546 Net investment income205 (14)7 198 — 198 Realized gains on securities— — — — 14 14 Income of MIEs:Investment income— 99 — 99 — 99 Gain (loss) on change in fair value of assets/liabilities— 10 — 10 — 10 Other income2 (3)40 39 — 39 Total revenues1,753 92 47 1,892 14 1,906 Costs and Expenses:Losses and loss adjustment expenses907 — 5 912 — 912 Commissions and other underwriting expenses486 — 17 503 — 503 Interest charges on borrowed money— — 19 19 — 19 Expenses of MIEs— 92 — 92 — 92 Other expenses20 — 56 76 — 76 Total costs and expenses1,413 92 97 1,602 — 1,602 Earnings before income taxes340 — (50)290 14 304 Provision for income taxes70 — (11)59 3 62 Core Net Operating Earnings270 — (39)231 Non-core earnings (loss) (*):Realized gains on securities, net of tax— — 11 11 (11)— Net Earnings$270 $— $(28)$242 $— $242 

(*)See the reconciliation of core earnings to GAAP net earnings under “Results of Operations — General” for details on the tax impacts of these reconciling items.

Property and Casualty Insurance Segment — Results of Operations

Performance measures such as underwriting profit or loss and related combined ratios are often used by property