Company: AFGC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001042046-25-000024
Chunk: 28

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 2 — Equity securities:Dividends15 7 21 14 Change in fair value4 9 4 25 Equity in earnings (losses) of partnerships and similar investments, net(6)14 7 39 Cash and cash equivalents10 12 23 24 Other19 15 32 25 Gross investment income190 193 370 397 Investment expenses(6)(5)(13)(11)Net investment income$184 $188 $357 $386 (*)The change in the fair value of fixed maturities classified as trading and derivatives embedded in convertible fixed maturities related to limited partnerships and similar investments.Realized gains (losses) and changes in unrealized appreciation (depreciation) included in AOCI related to fixed maturity securities are summarized as follows (in millions):Three months ended June 30, 2025Three months ended June 30, 2024Realized gains (losses)Realized gains (losses)Before ImpairmentsImpairment AllowanceTotalChange in UnrealizedBefore ImpairmentsImpairment AllowanceTotalChange in UnrealizedFixed maturities$(8)$— $(8)$51 $(1)$— $(1)$(15)Equity securities10 — 10 — (1)— (1)— Mortgage loans and other investments— — — — — — — — Total pretax2 — 2 51 (2)— (2)(15)Tax effects— — — (11)— — — 3 Net of tax$2 $— $2 $40 $(2)$— $(2)$(12)Six months ended June 30, 2025Six months ended June 30, 2024Realized gains (losses)Realized gains (losses)Before ImpairmentsImpairment AllowanceTotalChange in UnrealizedBefore ImpairmentsImpairment AllowanceTotalChange in UnrealizedFixed maturities$(7)$(7)$(14)$127 $(5)$(2)$(7)$(4)Equity securities19 — 19 — 19 — 19 — Mortgage loans and other investments— — — — — — — — Total pretax12 (