Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 125

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 the first nine months of 2025 compared to $8.49 billion for the first nine months of 2024, an increase of $119 million (1%). Detail of AFG’s property and casualty gross written premiums is shown below (dollars in millions):

Nine months ended September 30,20252024GWP%GWP%% ChangeProperty and transportation$4,119 48%$4,150 49%(1%)Specialty casualty3,467 40%3,417 40%1%Specialty financial1,023 12%923 11%11%$8,609 100%$8,490 100%1%

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

Reinsurance Premiums Ceded

Reinsurance premiums ceded (“Ceded”) for AFG’s property and casualty insurance segment were 34% of gross written premiums in the first nine months of 2025 compared to 33% of gross written premiums for the first nine months of 2024, an increase of 1 percentage point. Detail of AFG’s property and casualty reinsurance premiums ceded is shown below (dollars in millions):

Nine months ended September 30,20252024Change inCeded% of GWPCeded% of GWP% of GWPProperty and transportation$(1,746)42%$(1,712)41%1%Specialty casualty(1,016)29%(944)28%1%Specialty financial(181)18%(155)17%1%$(2,943)34%$(2,811)33%1%

Net Written Premiums

Net written premiums (“NWP”) for AFG’s property and casualty insurance segment were $5.67 billion for the first nine months of 2025 compared to $5.68 billion for the first nine months of 2024, a decrease of $13 million. Detail of AFG’s property and casualty net written premiums is shown below (dollars in millions):

Nine months ended September 30,20252024NWP%NWP%% ChangeProperty and transportation$2,373 42%$2,438 43%(3%)Specialty casualty2,451 43%2,473 44%(1%)Specialty financial842 15%768 13%10%$5,