Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 153

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 153
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$(221)Fair value as % of amortized cost103%95%Number of security positions1,070 895 Number individually exceeding $2 million gain or loss1 28 Concentration of gains (losses) by type or industry (exceeding 5% of unrealized):Residential mortgage-backed securities$37 $(113)Other asset-backed securities27 (44)Banking18 (6)Asset managers15 (5)States and municipalities8 (32)Percentage rated investment grade96%96%

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-QManagement’s Discussion and Analysis of Financial Condition and Results of Operations — Continued

The table below sets forth the scheduled maturities of AFG’s available for sale fixed maturity securities at September 30, 2025, based on their fair values. 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.

SecuritiesWithUnrealizedGainsSecuritiesWithUnrealizedLossesMaturityOne year or less3%13%After one year through five years24%18%After five years through ten years19%6%After ten years1%4%47%41%CLOs and other asset-backed securities (average life of approximately 3 years)33%32%Residential mortgage-backed securities (average life of approximately 6 years)20%27%100%100%

The table below (dollars in millions) summarizes the unrealized gains and losses on fixed maturity securities by dollar amount:

AggregateFairValueAggregateUnrealizedGain (Loss)FairValue as% of CostFixed Maturities at September 30, 2025Securities with unrealized gains:Exceeding $500,000 (66 securities)$928 $59 107%$500,000 or less (1,004 securities)5,116 108 102%$6,044 $167 103%Securities with unrealized losses:Exceeding $500,000 (94 securities)$1,173 $(150)89%$500,000 or less (801 securities)2,794 (71)98%$3,967 $(221)95%

The following table (dollars in millions) summarizes the unrealized losses for all securities with unrealized losses by issuer quality and the length of time those securities have been