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

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-02-25
Form: 10-K
Item: Item 9C
Chunk 10
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,471 Deferred policy acquisition costs320 309 Assets of managed investment entities4,140 4,484 Other receivables1,123 1,171 Other assets1,375 1,346 Goodwill305 305 Total assets$30,836 $29,787 Liabilities and Equity:Unpaid losses and loss adjustment expenses$14,179 $13,087 Unearned premiums3,584 3,451 Payable to reinsurers1,191 1,186 Liabilities of managed investment entities3,965 4,307 Long-term debt1,475 1,475 Other liabilities1,976 2,023 Total liabilities26,370 25,529 Shareholders’ equity:Common Stock, no par value— 200,000,000 shares authorized— 83,978,258 and 83,635,807 shares outstanding84 84 Capital surplus1,411 1,372 Retained earnings3,211 3,121 Accumulated other comprehensive income (loss), net of tax(240)(319)Total shareholders’ equity4,466 4,258 Total liabilities and shareholders’ equity$30,836 $29,787 

See notes to consolidated financial statements.

F-3

AMERICAN FINANCIAL GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF EARNINGS

(In Millions, Except Per Share Data)

Year ended December 31,202420232022Revenues:Net earned premiums$7,036 $6,531 $6,085 Net investment income780 742 717 Realized gains (losses) on:Securities— (36)(116)Subsidiaries— (4)— Income of managed investment entities:Investment income380 421 268 Gain (loss) on change in fair value of assets/liabilities4 27 (31)Other income124 146 117 Total revenues8,324 7,827 7,040 Costs and Expenses:Losses and loss adjustment expenses4,460 4,033 3,629 Commissions and other