Company: AFGC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001042046-25-000024
Chunk: 176

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 176
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 $97 million (32%). Higher year-over-year underwriting profit in the Specialty financial sub-segment was more than offset by lower underwriting profit in the 

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Table of ContentsAMERICAN FINANCIAL GROUP, INC. 10-QManagement’s Discussion and Analysis of Financial Condition and Results of Operations — Continued

Property and transportation and Specialty casualty sub-segments. Overall catastrophe losses were $110 million (3.4 points on the combined ratio) in the first six months of 2025 compared to catastrophe losses of $71 million (2.3 points), including $1 million in net reinstatement premiums in the first six months of 2024.

Property and transportation   Underwriting profit for this group was $64 million for the first six months of 2025 compared to $100 million for the first six months of 2024, a decrease of $36 million (36%). This decrease was due primarily to the impact of particularly strong crop insurance business results in the first six months of 2024 and lower year-over-year underwriting profit in the property and inland marine business. Catastrophe losses were $22 million (2.1 points on the combined ratio) in the first six months of 2025 compared to $22 million (2.0 points) in the first six months of 2024.

Specialty casualty   Underwriting profit for this group was $69 million for the first six months of 2025 compared to $147 million for the first six months of 2024, a decrease of $78 million (53%), reflecting lower underwriting profit in the directors’ and officers’ liability, excess and surplus and workers’ compensation businesses as well as higher catastrophe losses. Catastrophe losses were $34 million (2.1 points on the combined ratio) in the first six months of 2025 compared to catastrophe losses of $24 million (1.5 points), including $1 million in net reinstatement premiums in the first six months of 2024.

Specialty financial   Underwriting profit for this group was $75 million for the first six months of 2025 compared to $58 million for the first six months of 2024, an increase of $17 million (29%). Favorable prior year reserve development and improved accident year results were partially offset by higher year-over-year catastrophe losses. Catastrophe losses were $54 million (9.7 points