Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
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Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
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ITEM 1. — FINANCIAL STATEMENTS

AMERICAN FINANCIAL GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET (UNAUDITED)

(Dollars in Millions)

September 30,2025December 31,2024Assets:Cash and cash equivalents$1,842 $1,406 Investments:Fixed maturities, available for sale at fair value (amortized cost — $10,588 and $10,687; allowance for expected credit losses of $16 and $34)10,518 10,398 Fixed maturities, trading at fair value80 76 Equity securities, at fair value800 751 Investments accounted for using the equity method2,383 2,277 Mortgage loans975 791 Real estate and other investments163 153 Total cash and investments16,761 15,852 Recoverables from reinsurers5,565 5,176 Prepaid reinsurance premiums1,443 1,013 Agents’ balances and premiums receivable2,034 1,532 Deferred policy acquisition costs349 320 Assets of managed investment entities3,972 4,140 Other receivables2,075 1,123 Other assets1,308 1,375 Goodwill327 305 Total assets$33,834 $30,836 Liabilities and Equity:Unpaid losses and loss adjustment expenses$15,079 $14,179 Unearned premiums4,450 3,584 Payable to reinsurers1,578 1,191 Liabilities of managed investment entities3,834 3,965 Long-term debt1,820 1,475 Other liabilities2,343 1,976 Total liabilities29,104 26,370 Shareholders’ equity:Common Stock, no par value       — 200,000,000 shares authorized       — 83,401,430 and 83,978,258 shares outstanding83 84 Capital surplus1,421 1,411 Retained earnings3,299 3,211 Accumulated other comprehensive income (loss), net of tax(73)(240)Total