Company: AFGC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001042046-25-000020
Chunk: 114

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 114
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 office commercial real estate.

Summarized information for the unrealized gains and losses recorded in AFG’s Balance Sheet at March 31, 2025, is shown in the following table (dollars in millions). Approximately $484 million of available for sale fixed maturity securities had no unrealized gains or losses at March 31, 2025.

SecuritiesWithUnrealizedGainsSecuritiesWithUnrealizedLossesAvailable for Sale Fixed MaturitiesFair value of securities$4,715 $5,369 Amortized cost of securities, net of allowance for expected credit losses$4,593 $5,670 Gross unrealized gain (loss)$122 $(301)Fair value as % of amortized cost103 %95 %Number of security positions844 1,212 Number individually exceeding $2 million gain or loss2 32 Concentration of gains (losses) by type or industry (exceeding 5% of unrealized):Mortgage-backed securities$29 $(133)Other asset-backed securities22 (55)Banking12 (9)Asset managers10 (11)Collateralized loan obligations6 (11)States and municipalities5 (51)Percentage rated investment grade95 %96 %

The table below sets forth the scheduled maturities of AFG’s available for sale fixed maturity securities at March 31, 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 less2 %10 %After one year through five years27 %20 %After five years through ten years18 %9 %After ten years1 %3 %48 %42 %Collateralized loan obligations and other asset-backed securities (average life of approximately 3 years)33 %35 %Mortgage-backed securities (average life of approximately 6 years)19 %23 %100 %100 %

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

AggregateFair