Company: AFGC
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001140361-25-035246
Chunk: 12

Company: AMERICAN FINANCIAL GROUP INC
Filing Date: 2025-09-17
Form: 424B5
Chunk 12
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 and severe weather, terrorist activities (including any nuclear, biological, chemical or radiological events), incidents of war or losses resulting from pandemics, civil unrest and other major losses; |

| • | disruption caused by cyber-attacks or other technology breaches or failures by AFG or its business partners and service providers, which could negatively impact AFG’s business or reputation and/or expose AFG to litigation; |

| • | development of insurance loss reserves and establishment of other reserves, particularly with respect to amounts associated with asbestos and environmental claims; |

| • | availability of reinsurance and ability of reinsurers to pay their obligations; |

| • | competitive pressures; |

| • | the ability to obtain adequate rates and policy terms; |

| • | changes in AFG’s credit ratings or the financial strength ratings assigned by major ratings agencies to AFG’s operating subsidiaries; and |

| • | the impact of the conditions in the international financial markets and the global economy relating to AFG’s international operations. |

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Such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Some of the factors that could cause actual results to differ include, but are not limited to, the following: Risks Related to AFG’s Insurance Operations, Distribution and Products

| • | AFG’s results of operations could be adversely impacted by catastrophes, both natural and man-made, pandemics, severe weather conditions or climate change; |

| • | Volatility in crop prices or yields, as a result of weather conditions or other events, could adversely impact AFG’s results of operations; |

| • | AFG’s results of operations and revenues may fluctuate as a result of many factors, including cyclical changes in the insurance industry; |

| • | AFG’s success will depend on its ability to maintain and enhance effective operating procedures and manage risks on an enterprise-wide basis; |

| • | AFG could face unanticipated losses from war, terrorism, political unrest and geopolitical uncertainty which could have a material adverse effect on AFG’s financial condition and results of operations; and |

| • | AFG’s international operations expose it to investment, political and economic risks, including foreign currency and credit risk. |

Risks Relating to the Insurance Industry

| • | Intense competition could adversely affect AFG’s results of