Company: AFGC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001042046-25-000011
Chunk: 30

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-02-25
Form: 10-K
Item: Item 9C
Chunk 30
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 assets and liabilities carried at fair value during 2024, 2023 and 2022 are presented below (in millions). The transfers into and out of Level 3 were generally 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 December 31, 2023Netearnings (loss)Other comprehensive income (loss)PurchasesandissuancesSales andsettlementsTransferintoLevel 3Transferout ofLevel 3Balance at December 31, 2024AFS fixed maturities:U.S. government agency$— $— $— $— $— $— $— $— State and municipal2 — — — (1)— — 1 Residential MBS2 — — — — — (1)1 Commercial MBS— — — — — — — — Collateralized loan obligations1 (1)— — — — — — Other asset-backed securities351 (1)8 59 (100)5 (26)296 Corporate and other380 16 6 105 (31)4 (10)470 Total AFS fixed maturities736 14 14 164 (132)9 (37)768 Trading fixed maturities— 2 — 24 — — — 26 Equity securities (*)485 60 — 174 (57)— (370)292 Assets of MIE9 — (5)6 — — — 10 Total Level 3 assets$1,230 $76 $9 $368 $(189)$9 $(407)$1,096 Contingent consideration — acquisitions$(2)$(1)$— $(1)$2 $— $— $(2)Total Level 3 liabilities$(2)$(1)$— $(1)$2 $— $— $(2)(*)Transfers out primarily relate to investments now accounted for using the equity method.

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. AND SUBSIDIARIES    NOTES TO CONSOLIDATED FIN