Company: AFGC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001042046-25-000020
Chunk: 17

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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11% ($116 million) of the Level 3 assets were investments whose prices were determined based on financial information provided by third party asset managers. Approximately 5% ($50 million) of Level 3 assets were priced using non-binding broker quotes or pricing services, for which there is a lack of transparency as to the inputs used to determine fair value.Changes in balances of Level 3 financial assets and liabilities carried at fair value during the first three months of 2025 and 2024 are presented below (in millions). The transfers into and out of Level 3 were due to changes in the availability of market observable inputs. All transfers are reflected in the table at fair value as of the end of the reporting period.Total realized/unrealizedgains (losses) included inBalance at December 31, 2024Netearnings (loss)Other comprehensive income (loss)PurchasesandissuancesSales andsettlementsTransferintoLevel 3Transferout ofLevel 3Balance at March 31, 2025AFS fixed maturities:U.S. government agency$— $— $— $— $— $— $— $— State and municipal1 — — — — 3 — 4 Residential MBS1 — — — — — — 1 Commercial MBS— — — — — — — — Collateralized loan obligations— — — — — — — — Other asset-backed securities296 — 2 10 (27)— — 281 Corporate and other470 (6)4 14 (14)1 (7)462 Total AFS fixed maturities768 (6)6 24 (41)4 (7)748 Trading fixed maturities26 1 — — (14)— — 13 Equity securities292 (2)— 13 — — (6)297 Assets of MIE10 (1)— 3 — — — 12 Total Level 3 assets$1,096 $(8)$6 $40 $(55)$4 $(13)$1,070 Contingent consideration — acquisitions$(2)$— $— $— $1 $— $—