Company: AFGC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001042046-25-000024
Chunk: 184

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 184
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 Segmented Statement of Earnings.” Excluding amounts eliminated in consolidation, AFG recorded other income outside of its property and casualty insurance segment of $3 million in the first six months of 2025 compared to $2 million in the first six months of 2024, an increase of $1 million (50%).

Holding Company and Other — Other Expenses

AFG’s holding companies and other operations outside of its property and casualty insurance segment recorded other expenses of $80 million in the first six months of 2025 compared to $81 million in the first six months of 2024, a decrease of $1 million (1%).

Holding Company and Other — Interest Charges on Borrowed Money

AFG’s holding companies and other operations outside of its property and casualty insurance segment recorded interest expense of $38 million in both the first six months of 2025 and the first six months of 2024.

Realized Gains (Losses) on Securities

AFG’s realized gains (losses) on securities were net gains of $5 million in the first six months of 2025 compared to $12 million in the first six months of 2024, a decrease of $7 million (58%). Realized gains (losses) on securities consisted of the following (in millions):

Six months ended June 30,20252024Realized gains (losses) before impairment allowances:Disposals$(8)$(4)Change in the fair value of equity securities19 19 Change in the fair value of derivatives1 (1)12 14 Change in allowance for impairments on securities(7)(2)Realized gains (losses) on securities$5 $12 

The $19 million net realized gain from the change in the fair value of equity securities in the first six months of 2025 includes gains of $10 million on investments in manufacturing companies, $6 million on investments in banks and financing companies and $3 million on investments in media companies. The $19 million net realized gain from the change in the fair value of equity securities in the first six months of 2024 includes gains of $13 million on investments in banks and financing companies, $5 million on investments in natural gas companies and $4 million on investments in healthcare companies, partially offset by losses of $4 million on investments in media companies.

Consolidated Income Taxes

AFG’s consolidated