Company: AFGC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001042046-25-000024
Chunk: 150

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 150
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3,036 — — 3,036 Expenses of managed investment entities— 147 (19)(b)(c)128 Interest charges on borrowed money and other expenses190 — — 190 Total costs and expenses3,226 147 (19)3,354 Earnings before income taxes426 2 (2)426 Provision for income taxes98 — — 98 Net earnings$328 $2 $(2)$328 Six months ended June 30, 2024Revenues:Net earned premiums$3,131 $— $— $3,131 Net investment income409 — (23)(b)386 Realized gains (losses) on securities12 — — 12 Income of managed investment entities:Investment income— 197 — 197 Gain (loss) on change in fair value of assets/liabilities— 13 1 (b)14 Other income72 — (6)(c)66 Total revenues3,624 210 (28)3,806 Costs and Expenses:Insurance benefits and expenses2,858 — — 2,858 Expenses of managed investment entities— 206 (24)(b)(c)182 Interest charges on borrowed money and other expenses191 — — 191 Total costs and expenses3,049 206 (24)3,231 Earnings before income taxes575 4 (4)575 Provision for income taxes124 — — 124 Net earnings$451 $4 $(4)$451 

(a)Includes income of $4 million in the first six months of 2025 and $23 million in the first six months of 2024, representing the change in fair value of AFG’s CLO investments and $5 million and $6 million of income in the first six months of 2025 and 2024, respectively, in CLO management fees earned.

(b)Elimination of the change in fair value of AFG’s investments in the CLOs, including $14 million and $18 million in the first six months of 2025 and 2024, respectively, in