Company: AFGC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001042046-25-000035
Chunk: 163

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 163
---
 other and unallocatedTotalNon-core reclassGAAP TotalThree months ended September 30, 2024Revenues:Net earned premiums$2,055 $— $— $2,055 $— $2,055 Net investment income195 (2)7 200 — 200 Realized gains (losses) on securities— — — — (2)(2)Income of MIEs:Investment income— 99 — 99 — 99 Gain (loss) on change in fair value of assets/liabilities— (9)— (9)— (9)Other income2 (3)27 26 — 26 Total revenues2,252 85 34 2,371 (2)2,369 Costs and Expenses:Losses and loss adjustment expenses1,430 — — 1,430 — 1,430 Commissions and other underwriting expenses510 — 8 518 — 518 Interest charges on borrowed money— — 19 19 — 19 Expenses of MIEs— 85 — 85 — 85 Other expenses21 — 53 74 14 88 Total costs and expenses1,961 85 80 2,126 14 2,140 Earnings before income taxes291 — (46)245 (16)229 Provision for income taxes61 — (10)51 (3)48 Core Net Operating Earnings230 — (36)194 Non-core earnings (loss) (*):Realized gains (losses) on securities, net of tax— — (2)(2)2 — Special A&E charge, net of tax— — (11)(11)11 — Net Earnings$230 $— $(49)$181 $— $181 

(*)See the reconciliation of core earnings to GAAP net earnings under “Results of Operations — General” for details on the tax impacts of these reconciling items.

Property and Casualty Insurance Segment — Results of Operations

Performance measures such as underwriting profit or loss and related combined ratios are often used by property and casualty insurers to help users of their financial statements better understand the company’s performance. Underwriting