Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 189

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 189
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4%)(3.8%)Current year catastrophe losses including the impact of net reinstatement premiums65 64 7.9%8.5%(0.6%)Specialty financial losses and LAE and ratio$306 $325 37.1%43.1%(6.0%)Total SpecialtyCurrent year, excluding catastrophe losses$3,248 $3,214 62.0%62.0%—%Prior accident years development(56)(104)(1.1%)(2.0%)0.9%Current year catastrophe losses including the impact of net reinstatement premiums133 160 2.5%3.1%(0.6%)Total Specialty losses and LAE and ratio$3,325 $3,270 63.4%63.1%0.3%Aggregate — including exited linesCurrent year, excluding catastrophe losses$3,248 $3,214 62.0%62.0%—%Prior accident years development(54)(100)(1.0%)(1.9%)0.9%Current year catastrophe losses including the impact of net reinstatement premiums133 160 2.5%3.0%(0.5%)Aggregate losses and LAE and ratio$3,327 $3,274 63.5%63.1%0.4%

Current accident year losses and LAE, excluding catastrophe losses

The current accident year loss and LAE ratio, excluding catastrophe losses, for AFG’s Specialty property and casualty insurance operations was 62.0% for both the first nine months of 2025 and the first nine months of 2024.

Property and transportation   The 0.1 percentage points decrease in the loss and LAE ratio for the current year, excluding catastrophe losses, reflects growth and improved results in the property and inland marine business, which has a lower loss and LAE ratio than some of the other businesses in the Property and transportation sub-segment, improved results in the transportation businesses and the impact of a large property loss in the first quarter of 2024, partially offset by higher claim severity in the aviation business and lower earnings in the crop business.

Specialty casualty   The 1.7 percentage points increase in the loss and LAE ratio for the current year, excluding catastrophe losses, reflects higher claim severity in the excess and surplus and social services businesses.

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-QManagement