Company: AFGC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001042046-25-000020
Chunk: 23

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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$11 $23 $34 Provision for expected credit losses on securities with no previous allowance— 2 2 Additions to previously recognized expected credit losses— 5 5 Reductions due to sales or redemptions— — — Balance at March 31, 2025$11 $30 $41 Balance at December 31, 2023$9 $3 $12 Provision for expected credit losses on securities with no previous allowance1 — 1 Additions to previously recognized expected credit losses1 — 1 Reductions due to sales or redemptions— (3)(3)Balance at March 31, 2024$11 $— $11 (*)Includes MBS, CLOs and other asset-backed securities (“ABS”).In the first three months of 2025 and 2024, AFG did not purchase any securities with expected credit losses.The table below sets forth the scheduled maturities of AFG’s available for sale fixed maturities as of March 31, 2025 (dollars in millions). Securities with sinking funds are reported at average maturity. Actual maturities may differ from contractual maturities because certain securities may be called or prepaid by the issuers.AmortizedFair ValueCost, net (*)Amount%MaturityOne year or less$715 $700 7 %After one year through five years2,547 2,533 24 %After five years through ten years1,331 1,337 13 %After ten years231 217 2 %4,824 4,787 46 %CLOs and other ABS (average life of approximately 3 years)3,660 3,622 34 %MBS (average life of approximately 6 years)2,263 2,159 20 %Total$10,747 $10,568 100 %(*)Amortized cost, net of allowance for expected credit losses.Certain risks are inherent in fixed maturity securities, including loss upon default, price volatility in reaction to changes in interest rates, and general market factors and risks associated with reinvestment of proceeds due to prepayments or redemptions in a period of declining interest rates.There were no investments in individual issuers that exceeded 10% of shareholders’ equity at March 31, 2025 or December 31, 2024