Company: AFGC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001042046-25-000020
Chunk: 69

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 69
---
gment). This favorable development was partially offset by (i) higher than anticipated claim severity in the excess liability businesses and higher than expected claim frequency and severity in the social services business (within the Specialty casualty sub-segment) and (ii) higher than anticipated claim severity in the innovative markets business (within the Specialty financial sub-segment).Recoverables from Reinsurers and Premiums Receivable   Progressions of the 2025 and 2024 allowance for expected credit losses on recoverables from reinsurers and premiums receivable are shown below (in millions):Recoverables from ReinsurersPremiums Receivable2025202420252024Balance at December 31$11 $10 $19 $15 Provision (credit) for expected credit losses(1)— (1)— Write-offs charged against the allowance— — — — Balance at March 31$10 $10 $18 $15 

28

Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-Q

ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

INDEX TO MD&APagePageForward-Looking Statements29Managed Investment Entities36Overview30Results of Operations38Critical Accounting Policies30General38Liquidity and Capital Resources31Segmented Statement of Earnings39Ratios31Property and Casualty Insurance40Condensed Consolidated Cash Flows31Holding Company, Other and Unallocated49Parent and Subsidiary Liquidity32Recent Accounting Standards50Investments33Uncertainties35

FORWARD-LOOKING STATEMENTS

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. Some of the forward-looking statements can be identified by the use of words such as “anticipates”, “believes”, “expects”, “projects”, “estimates”, “intends”, “plans”, “seeks”, “could”, “may”, “should”, “will” or the negative version of those words or other comparable terminology. Such forward-looking statements include statements relating to: expectations concerning market and other conditions and their effect on future premiums, revenues, earnings, investment activities and the amount and timing of share repurchases and special dividends; recoverability of asset values; expected losses and the adequacy of reserves for asbestos, environmental pollution and mass tort claims; rate changes; and improved loss experience.

Actual results and/or financial condition could differ materially from those contained in or implied by such