Company: AFGC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001042046-25-000024
Chunk: 119

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 119
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20252024GWP%GWP%% ChangeProperty and transportation$2,144 43%$2,043 43%5%Specialty casualty2,130 43%2,120 45%—%Specialty financial670 14%579 12%16%$4,944 100%$4,742 100%4%

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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 31% of gross written premiums in the first six months of 2025 compared to 30% of gross written premiums for the first six 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):

Six months ended June 30,20252024Change inCeded% of GWPCeded% of GWP% of GWPProperty and transportation$(822)38%$(756)37%1%Specialty casualty(593)28%(564)27%1%Specialty financial(115)17%(96)17%—%$(1,530)31%$(1,416)30%1%

Net Written Premiums

Net written premiums (“NWP”) for AFG’s property and casualty insurance segment were $3.41 billion for the first six months of 2025 compared to $3.33 billion for the first six months of 2024, an increase of $88 million (3%). Detail of AFG’s property and casualty net written premiums is shown below (dollars in millions):

Six months ended June 30,20252024NWP%NWP%% ChangeProperty and transportation$1,322 39%$1,287 39%3%Specialty casualty1,537 45%1,556 47%(1%)Specialty financial555 16%483 14%15%$3,414 100%$3,326 100%3%

Net Earned Premiums

Net earned premiums (“NEP”) for AFG’s property and casualty insurance segment were $3.23 billion for the first six months of 2025 compared to $3.13 billion for the first six months of 2024