Company: AFGC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001042046-25-000011
Chunk: 174

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 174
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arnings$297 $— $(42)$255 $— $255 

49

OtherP&CConsol. MIEsHolding Co., other and unallocatedTotalNon-core reclassGAAP TotalThree months ended December 31, 2023Revenues:Net earned premiums$1,732 $— $— $1,732 $— $1,732 Net investment income161 (9)7 159 — 159 Realized gains (losses) on securities— — — — 31 31 Income of MIEs:Investment income— 100 — 100 — 100 Gain (loss) on change in fair value of assets/liabilities— 15 — 15 — 15 Other income3 (4)47 46 — 46 Total revenues1,896 102 54 2,052 31 2,083 Costs and Expenses:Losses and loss adjustment expenses1,053 — 16 1,069 — 1,069 Commissions and other underwriting expenses468 — 12 480 — 480 Interest charges on borrowed money— — 19 19 — 19 Expenses of MIEs— 102 — 102 — 102 Other expenses18 — 60 78 — 78 Total costs and expenses1,539 102 107 1,748 — 1,748 Earnings before income taxes357 — (53)304 31 335 Provision for income taxes74 — (8)66 6 72 Core Net Operating Earnings283 — (45)238 Non-core earnings (loss) (*):Realized gains (losses) on securities, net of tax— — 25 25 (25)— Net Earnings$283 $— $(20)$263 $— $263 

(*)See the reconciliation of core earnings to GAAP net earnings under “Results of Operations — General” for details on the tax impacts of these reconciling items.

Property and Casualty Insurance Segment — Results of Operations

Performance measures such as underwriting profit or loss and related combined ratios are often used by property and casualty insurers to help users of their financial statements better