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{"sheet":"Cover Page","index":0,"n_rows":23,"n_cols":8,"rows_kept":23,"cut":false,"hidden":false,"merged":[]}
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[null,null,null,null,null,null,null,"American Financial Group, Inc."]
[null,null,null,null,null,null,null,"Investor Supplement - First Quarter 2025"]
[]
[]
[null,null,null,null,null,null,null,"2025-05-06"]
[]
[]
[]
[null,null,null,null,null,null,null,"American Financial Group, Inc."]
[null,null,null,null,null,null,null,"Corporate Headquarters"]
[null,null,null,null,null,null,null,"Great American Insurance Group Tower"]
[null,null,null,null,null,null,null,"301 E Fourth Street"]
[null,null,null,null,null,null,null,"Cincinnati, OH 45202"]
[null,null,null,null,null,null,null,"513 579 6739"]

{"sheet":"Contents","index":1,"n_rows":38,"n_cols":4,"rows_kept":38,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Table of Contents - Investor Supplement - First Quarter 2025",null,null,1]
[]
["Section","Page"]
[]
["Table of Contents - Investor Supplement - First Quarter 2025",2]
["Financial Highlights",3]
["Summary of Earnings",4]
["Earnings Per Share Summary",5]
[]
["Property and Casualty Insurance Segment"]
["Property and Casualty Insurance - Summary Underwriting Results (GAAP)",6]
["Specialty - Underwriting Results (GAAP)",7]
["Property and Transportation - Underwriting Results (GAAP)",8]
["Specialty Casualty - Underwriting Results (GAAP)",9]
["Specialty Financial - Underwriting Results (GAAP)",10]
[]
["Consolidated Balance Sheet / Book Value / Debt"]
["Consolidated Balance Sheet",11]
["Book Value Per Share and Price / Book Summary",12]
["Capitalization",13]
["Additional Supplemental Information",14]
[]
["Consolidated Investment Supplement "]
["Total Cash and Investments",15]
["Net Investment Income",16]
["Alternative Investments",17]
["Fixed Maturities - By Security Type - AFG Consolidated",18]
[]
["Appendix"]
["A.  Fixed Maturities by Credit Rating & NAIC Designation by Type 3/31/2025",19]
["B.  Fixed Maturities by Credit Rating & NAIC Designation by Type 12/31/2024",20]
["C.  Corporate Securities by Credit Rating & NAIC Designation by Industry 3/31/2025",21]
["D.  Corporate Securities by Credit Rating & NAIC Designation by Industry 12/31/2024",22]
["E.  Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 3/31/2025",23]
["F.  Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 12/31/2024",24]
["G.  Real Estate-Related Investments 3/31/2025",25]
["H.  Real Estate-Related Investments 12/31/2024",26]

{"sheet":"Pg 3 Highlights","index":2,"n_rows":38,"n_cols":13,"rows_kept":38,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Financial Highlights"]
["(in millions, except per share information)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
[]
["Highlights"]
["Net earnings",154,255,181,209,242,null,887,852,null,887,632,451]
["Core net operating earnings",152,262,194,215,231,null,902,895,null,902,640,446]
["Total assets",30294,30836,32591,29913,30001,null,30836,29787,"",32591,32591,29913]
["Shareholders' equity, excluding AOCI (a)",4571,4706,4844,4715,4555,null,4706,4577,"",4844,4844,4715]
["Property and Casualty net written premiums",1611,1460,2353,1692,1634,null,7139,6692,null,7139,5679,3326]
[]
[]
[]
["Per share data"]
["Diluted earnings per share",1.84,3.0300000000000002,2.16,2.4900000000000002,2.8899999999999997,null,10.569999999999999,10.050000000000001,null,10.569999999999999,7.54,5.3800000000000008]
["Core net operating earnings per share",1.81,3.12,2.31,2.56,2.76,null,10.75,10.56,null,10.75,7.63,5.32]
["Book value per share, excluding AOCI (a)",54.632595496486111,56.028486270213634,57.709576278255071,56.189864119098416,54.318661530939579,null,56.028486270213634,54.72,null,57.709576278255071,57.709576278255071,56.189864119098416]
[]
["Dividends per common share",2.8,4.799999999999998,0.71,0.71,3.21,null,9.43,8.1,null,9.43,4.63,3.92]
[]
[]
[]
["Financial ratios"]
["Annualized return on equity (b)",0.13300000000000001,0.21299999999999999,0.152,0.18,0.21199999999999999,null,0.19,0.188,null,0.19,0.18,0.19500000000000001]
["Annualized core operating return on equity (b)",0.13100000000000001,0.219,0.16200000000000001,0.185,0.20200000000000001,null,0.193,0.19800000000000001,null,0.193,0.183,0.193]
[]
["Property and Casualty combined ratio - Specialty:"]
["Loss & LAE ratio",0.61,0.63700000000000001,0.69500000000000006,0.59099999999999997,0.58599999999999997,null,0.63300000000000001,0.61499999999999999,null,0.63300000000000001,0.63100000000000001,0.58799999999999997]
["Underwriting expense ratio",0.33,0.253,0.248,0.314,0.315,null,0.27900000000000003,0.28799999999999998,null,0.27900000000000003,0.28799999999999998,0.314]
["Combined ratio - Specialty",0.94,0.89,0.94300000000000006,0.90500000000000003,0.90100000000000002,null,0.91200000000000003,0.90300000000000002,null,0.91200000000000003,0.91900000000000004,0.90199999999999991]
[]
[]
["(a) A reconciliation to the GAAP measure is on page 12."]
["(b) Excludes accumulated other comprehensive income."]

{"sheet":"Pg 4 Earnings","index":3,"n_rows":28,"n_cols":13,"rows_kept":28,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Summary of Earnings"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
["Property and Casualty Insurance"]
["Underwriting profit ",94,202,115,150,153,null,620,631,null,620,418,303]
["Net investment income",170,195,195,189,205,null,784,729,null,784,589,394]
["Other income (expense)",-18,-19,-19,-20,-18,null,-76,-56,null,-76,-57,-38]
["Property and Casualty Insurance operating earnings ",246,378,291,319,340,null,1328,1304,null,1328,950,659]
[]
["Interest expense of parent holding companies",-19,-19,-19,-19,-19,null,-76,-76,null,-76,-57,-38]
["Other expense",-33,-29,-27,-27,-31,null,-114,-101,null,-114,-85,-58]
["Pretax core operating earnings",194,330,245,273,290,null,1138,1127,null,1138,808,563]
[]
["Income tax expense",42,68,51,58,59,null,236,232,null,236,168,117]
["Core net operating earnings",152,262,194,215,231,null,902,895,null,902,640,446]
[]
["Non-core items, net of tax:  "]
["Realized gains (losses) on securities",2,-7,-2,-2,11,null,0,-28,null,0,7,9]
["Realized loss on subsidiaries",0,0,0,-4,0,null,-4,-4,null,-4,-4,0]
["Special A&E charges:  ",0,0,0,0]
["Property and Casualty Insurance run-off operations ",0,0,0,0,0,null,0,0,null,0,0,0]
["Special A&E charges - Former Railroad and Manufacturing operations ",0,0,-11,0,0,null,-11,-12,null,-11,-11,0]
["Gain (loss) on retirement of debt",0,0,0,0,0,null,0,1,null,0,0,0]
["Other non-core items",0,0,0,0,0,null,0,0,null,0,0,-4]
["Net earnings",154,255,181,209,242,null,887,852,null,887,632,451]

{"sheet":"Pg 5 Earnings Per Share","index":4,"n_rows":24,"n_cols":13,"rows_kept":24,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Earnings Per Share Summary"]
["(in millions, except per share information)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Core net operating earnings",152,262,194,215,231,null,902,895,null,902,640,446]
[]
["Net earnings",154,255,181,209,242,null,887,852,null,887,632,451]
[]
["Average number of diluted shares",83.841999999999999,83.965999999999994,83.938999999999993,83.912000000000006,83.795000000000002,null,83.903000000000006,84.774000000000001,null,83.903000000000006,83.882000000000005,83.852999999999994]
[]
["Diluted earnings per share:"]
["Core net operating earnings per share",1.81,3.12,2.31,2.56,2.76,null,10.75,10.56,null,10.75,7.63,5.32]
[]
["Realized gains (losses) on securities",0.03,-0.09,-0.02,-0.02,0.13,null,0,-0.33,null,0,0.09,0.11]
["Realized loss on subsidiaries",0,0,0,-0.05,0,null,-0.05,-0.04,null,-0.05,-0.05,0]
["Special A&E charges:  "]
["Property and Casualty Insurance run-off operations ",0,0,0,0,0,null,0,0,null,0,0,0]
["Special A&E charges - Former Railroad and Manufacturing operations ",0,0,-0.13,0,0,null,-0.13,-0.15,null,-0.13,-0.13,0]
["Gain (loss) on retirement of debt",0,0,0,0,0,null,0,0.01,null,0,0,0]
["Other non-core items",0,0,0,0,0,null,0,0,null,0,0,-0.05]
["Diluted earnings per share",1.84,3.0300000000000002,2.16,2.4900000000000002,2.8899999999999997,null,10.569999999999999,10.050000000000001,null,10.569999999999999,7.54,5.3800000000000008]

{"sheet":"Pg 6 P&C_UW","index":5,"n_rows":46,"n_cols":13,"rows_kept":46,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Property and Casualty Insurance - Summary Underwriting Results (GAAP)"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Property and Transportation",37,81,33,40,60,null,214,174,null,211,129,95]
["Specialty Casualty",20,69,63,86,61,null,279,348,null,340,258,182]
["Specialty Financial",37,54,21,25,33,null,133,111,null,134,80,58]
["Underwriting profit - Specialty",94,204,117,151,154,null,626,633,null,626,422,305]
[]
["Other core charges, included in loss and LAE",0,-2,-2,-1,-1,null,-6,-2,null,-6,-4,-2]
["Underwriting profit - Core",94,202,115,150,153,null,620,631,null,620,418,303]
[]
["Special A&E charges, included in loss and LAE",0,0,0,0,0,null,0,0,null,0,0,0]
["Underwriting profit - Property and Casualty Insurance",94,202,115,150,153,null,620,631,null,620,418,303]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,1,0,0,1,null,2,3,null,2,1,1]
["Catastrophe losses",72,20,90,36,34,null,180,162,null,180,160,70]
["Total current accident year catastrophe losses",72,21,90,36,35,null,182,165,null,182,161,71]
[]
["Prior year loss reserve development (favorable) / adverse",-20,36,-15,-35,-50,null,-64,-224,null,-64,-100,-85]
[]
["Combined ratio:"]
["Property and Transportation",0.92500000000000004,0.89500000000000002,0.96799999999999997,0.92700000000000005,0.88500000000000001,null,0.92446850672328373,0.93099999999999994,null,0.92399999999999993,0.93599999999999994,0.91000000000000014]
["Specialty Casualty",0.97599999999999998,0.91400000000000003,0.92100000000000004,0.89100000000000001,0.92200000000000004,null,0.91226196473551635,0.88800000000000001,null,0.88500000000000001,0.88400000000000001,0.877]
["Specialty Financial",0.87000000000000011,0.80699999999999994,0.92300000000000004,0.89700000000000002,0.8660000000000001,null,0.872,0.872,null,0.871,0.89400000000000002,0.88100000000000001]
["Combined ratio - Specialty ",0.94,0.89,0.94300000000000006,0.90500000000000003,0.90100000000000002,null,0.91200000000000003,0.90300000000000002,null,0.91200000000000003,0.91900000000000004,0.90199999999999991]
[]
["Other core charges",1E-3,1E-3,1E-3,0,0,null,0,1E-3,null,0,0,1E-3]
["Combined ratio",0.94099999999999995,0.89100000000000001,0.94400000000000006,0.90500000000000003,0.90100000000000002,null,0.91200000000000003,0.90400000000000003,null,0.91200000000000003,0.91900000000000004,0.90299999999999991]
[]
["P&C combined ratio excl. catastrophe losses and prior year reserve development",0.90799999999999992,0.86099999999999999,0.90700000000000003,0.90500000000000003,0.91100000000000003,null,0.89600000000000002,0.91199999999999992,null,0.89600000000000002,0.90799999999999992,0.90700000000000003]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.57799999999999996,0.60799999999999998,0.65900000000000003,0.59099999999999997,0.59599999999999997,null,0.61699999999999999,0.624,null,0.61699999999999999,0.62,0.59299999999999997]
["Prior accident year loss reserve development",-1.2999999999999999E-2,1.9E-2,-7.0000000000000001E-3,-2.1999999999999999E-2,-3.2000000000000001E-2,null,-8.9999999999999993E-3,-3.4000000000000002E-2,null,-8.9999999999999993E-3,-1.9E-2,-2.7E-2]
["Current accident year catastrophe losses",4.5999999999999999E-2,1.0999999999999999E-2,4.3999999999999997E-2,2.1999999999999999E-2,2.1999999999999999E-2,null,2.5000000000000001E-2,2.5999999999999999E-2,null,2.5000000000000001E-2,0.03,2.3E-2]
["Loss and LAE ratio",0.61099999999999999,0.63800000000000001,0.69600000000000006,0.59099999999999997,0.58599999999999997,null,0.63300000000000001,0.61599999999999999,null,0.63300000000000001,0.63100000000000001,0.58899999999999997]
[]
[]
[]
["    "]

{"sheet":"Pg 7 P&C_Specialty_UW","index":6,"n_rows":37,"n_cols":13,"rows_kept":37,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Specialty - Underwriting Results (GAAP)"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Gross written premiums",2291,2043,3748,2406,2336,null,10533,9656,"",10533,8490,4742]
["Ceded reinsurance premiums",-680,-583,-1395,-714,-702,null,-3394,-2964,"",-3394,-2811,-1416]
["Net written premiums",1611,1460,2353,1692,1634,null,7139,6692,"",7139,5679,3326]
["Change in unearned premiums",-31,390,-298,-107,-88,null,-103,-161,"",-103,-493,-195]
["Net earned premiums",1580,1850,2055,1585,1546,null,7036,6531,"",7036,5186,3131]
[]
["Loss and LAE",965,1179,1428,936,906,null,4449,4015,"",4449,3270,1842]
["Underwriting expense",521,467,510,498,486,null,1961,1883,"",1961,1494,984]
["Underwriting profit",94,204,117,151,154,null,626,633,"",626,422,305]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,1,0,0,1,null,2,3,"",2,1,1]
["Catastrophe losses",72,20,90,36,34,null,180,162,"",180,160,70]
["Total current accident year catastrophe losses",72,21,90,36,35,null,182,165,"",182,161,71]
[]
["Prior year loss reserve development (favorable) / adverse",-20,34,-17,-36,-51,null,-70,-226,"",-70,-104,-87]
[]
["Combined ratio:"]
["Loss and LAE ratio",0.61,0.63700000000000001,0.69500000000000006,0.59099999999999997,0.58599999999999997,null,0.63300000000000001,0.61499999999999999,null,0.63300000000000001,0.63100000000000001,0.58799999999999997]
["Underwriting expense ratio",0.33,0.253,0.248,0.314,0.315,null,0.27900000000000003,0.28799999999999998,null,0.27900000000000003,0.28799999999999998,0.314]
["Combined ratio",0.94,0.89,0.94300000000000006,0.90500000000000003,0.90100000000000002,null,0.91200000000000003,0.90300000000000002,null,0.91200000000000003,0.91900000000000004,0.90199999999999991]
[]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.90799999999999992,0.86099999999999999,0.90700000000000003,0.90500000000000003,0.91100000000000003,null,0.89600000000000002,0.91199999999999992,null,0.89600000000000002,0.90799999999999992,0.90700000000000003]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.57799999999999996,0.60799999999999998,0.65900000000000003,0.59099999999999997,0.59599999999999997,null,0.61699999999999999,0.624,null,0.61699999999999999,0.62,0.59299999999999997]
["Prior accident year loss reserve development",-1.2999999999999999E-2,1.7999999999999999E-2,-8.0000000000000002E-3,-2.3E-2,-3.3000000000000002E-2,null,-0.01,-3.4000000000000002E-2,null,-0.01,-0.02,-2.8000000000000001E-2]
["Current accident year catastrophe losses",4.4999999999999998E-2,1.0999999999999999E-2,4.3999999999999997E-2,2.3E-2,2.3E-2,null,2.5999999999999999E-2,2.5000000000000001E-2,null,2.5999999999999999E-2,3.1E-2,2.3E-2]
["Loss and LAE ratio",0.61,0.63700000000000001,0.69500000000000006,0.59099999999999997,0.58599999999999997,null,0.63300000000000001,0.61499999999999999,null,0.63300000000000001,0.63100000000000001,0.58799999999999997]

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["American Financial Group, Inc."]
["Property and Transportation - Underwriting Results (GAAP)"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Gross written premiums",897,585,2107,1084,959,null,4735,4146,null,4735,4150,2043]
["Ceded reinsurance premiums",-334,-177,-956,-394,-362,null,-1889,-1560,null,-1924,-1738,-771]
["Net written premiums",563,408,1151,690,597,null,2846,2586,null,2811,2412,1272]
["Change in unearned premiums",-63,357,-162,-138,-77,null,-20,-36,null,-18,-375,-216]
["Net earned premiums",500,765,989,552,520,null,2826,2550,null,2793,2037,1056]
[]
["Loss and LAE",311,531,784,351,306,null,1972,1773,null,1952,1429,652]
["Underwriting expense",152,153,172,161,154,null,640,603,null,630,479,309]
["Underwriting profit",37,81,33,40,60,null,214,174,null,211,129,95]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,1,0,0,0,null,1,2,null,1,0,0]
["Catastrophe losses",10,9,34,13,9,null,65,54,null,64,55,21]
["Total current accident year catastrophe losses",10,10,34,13,9,null,66,56,null,65,55,21]
[]
["Prior year loss reserve development (favorable) / adverse",-19,-2,-14,-34,-46,null,-96,-82,null,-94,-91,-76]
[]
["Combined ratio:"]
["Loss and LAE ratio",0.621,0.69500000000000006,0.79400000000000004,0.63700000000000001,0.58700000000000008,null,0.69799999999999995,0.69499999999999995,null,0.69899999999999995,0.70099999999999996,0.6170000000000001]
["Underwriting expense ratio",0.30399999999999999,0.2,0.17399999999999999,0.28999999999999998,0.29799999999999999,null,0.22646850672328378,0.23599999999999999,null,0.22500000000000001,0.23499999999999999,0.29299999999999998]
["Combined ratio",0.92500000000000004,0.89500000000000002,0.96799999999999997,0.92700000000000005,0.88500000000000001,null,0.92446850672328373,0.93099999999999994,null,0.92399999999999993,0.93599999999999994,0.91000000000000014]
[]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.94399999999999995,0.88500000000000001,0.94500000000000006,0.96599999999999997,0.95599999999999996,null,0.93546850672328374,0.94199999999999995,null,0.93499999999999994,0.95299999999999996,0.96100000000000008]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.64,0.68500000000000005,0.77100000000000002,0.67600000000000005,0.65800000000000003,null,0.70899999999999996,0.70599999999999996,null,0.71,0.71799999999999997,0.66800000000000004]
["Prior accident year loss reserve development",-3.9E-2,-2E-3,-1.2999999999999999E-2,-6.3E-2,-8.7999999999999995E-2,null,-3.4000000000000002E-2,-3.2000000000000001E-2,null,-3.4000000000000002E-2,-4.3999999999999997E-2,-7.1999999999999995E-2]
["Current accident year catastrophe losses",0.02,1.2E-2,3.5999999999999997E-2,2.4E-2,1.7000000000000001E-2,null,2.3E-2,2.1000000000000001E-2,null,2.3E-2,2.7E-2,2.1000000000000001E-2]
["Loss and LAE ratio",0.621,0.69500000000000006,0.79400000000000004,0.63700000000000001,0.58700000000000008,null,0.69799999999999995,0.69499999999999995,null,0.69899999999999995,0.70099999999999996,0.6170000000000001]

{"sheet":"Pg 9 P&C_SC_UW","index":8,"n_rows":37,"n_cols":13,"rows_kept":37,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Specialty Casualty - Underwriting Results (GAAP)"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Gross written premiums",1068,1126,1297,1023,1097,null,4543,4368,null,4543,3417,2120]
["Ceded reinsurance premiums",-296,-353,-380,-270,-294,null,-1297,-1199,null,-1500,-1099,-665]
["Net written premiums",772,773,917,753,803,null,3246,3169,null,3043,2318,1455]
["Change in unearned premiums",22,32,-120,38,-20,null,-70,-57,null,-76,-105,14]
["Net earned premiums",794,805,797,791,783,null,3176,3112,null,2967,2213,1469]
[]
["Loss and LAE",536,541,519,483,502,null,2045,1914,null,1853,1358,885]
["Underwriting expense",238,195,215,222,220,null,852,850,null,774,597,402]
["Underwriting profit",20,69,63,86,61,null,279,348,null,340,258,182]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,0,0,0,1,null,1,1,null,1,1,1]
["Catastrophe losses",27,-6,17,5,18,null,34,58,null,31,36,20]
["Total current accident year catastrophe losses",27,-6,17,5,19,null,35,59,null,32,37,21]
[]
["Prior year loss reserve development (favorable) / adverse",12,44,6,-2,-11,null,37,-111,null,-10,-46,-42]
[]
["Combined ratio:"]
["Loss and LAE ratio",0.67600000000000005,0.67200000000000004,0.65100000000000002,0.61,0.64200000000000002,null,0.64400000000000002,0.61499999999999999,null,0.624,0.61399999999999999,0.60299999999999998]
["Underwriting expense ratio",0.3,0.24199999999999999,0.27,0.28100000000000003,0.28000000000000003,null,0.26826196473551639,0.27300000000000002,null,0.26100000000000001,0.27,0.27400000000000002]
["Combined ratio",0.97599999999999998,0.91400000000000003,0.92100000000000004,0.89100000000000001,0.92200000000000004,null,0.91226196473551635,0.88800000000000001,null,0.88500000000000001,0.88400000000000001,0.877]
[]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.92599999999999993,0.86699999999999999,0.89300000000000002,0.88700000000000001,0.91200000000000003,null,0.88926196473551644,0.90500000000000003,null,0.878,0.88700000000000001,0.89100000000000001]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.626,0.625,0.623,0.60599999999999998,0.63200000000000001,null,0.621,0.63200000000000001,null,0.61699999999999999,0.61699999999999999,0.61699999999999999]
["Prior accident year loss reserve development",1.6E-2,5.3999999999999999E-2,7.0000000000000001E-3,-2E-3,-1.4E-2,null,1.2E-2,-3.5999999999999997E-2,null,-4.0000000000000001E-3,-2.1000000000000001E-2,-2.9000000000000001E-2]
["Current accident year catastrophe losses",3.4000000000000002E-2,-7.0000000000000001E-3,2.1000000000000001E-2,6.0000000000000001E-3,2.4E-2,null,1.0999999999999999E-2,1.9E-2,null,1.0999999999999999E-2,1.7999999999999999E-2,1.4999999999999999E-2]
["Loss and LAE ratio",0.67600000000000005,0.67200000000000004,0.65100000000000002,0.61,0.64200000000000002,null,0.64400000000000002,0.61499999999999999,null,0.624,0.61399999999999999,0.60299999999999998]

{"sheet":"Pg 10 P&C_SF_UW","index":9,"n_rows":37,"n_cols":13,"rows_kept":37,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Specialty Financial - Underwriting Results (GAAP)"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Gross written premiums",326,332,344,299,280,null,1255,1142,null,1255,923,579]
["Ceded reinsurance premiums",-50,-53,-59,-50,-46,null,-208,-205,null,-210,-157,-97]
["Net written premiums",276,279,285,249,234,null,1047,937,null,1045,766,482]
["Change in unearned premiums",10,1,-16,-7,9,null,-13,-68,null,-13,-13,2]
["Net earned premiums",286,280,269,242,243,null,1034,869,null,1032,753,484]
[]
["Loss and LAE",118,107,125,102,98,null,432,328,null,429,323,199]
["Underwriting expense",131,119,123,115,112,null,469,430,null,469,350,227]
["Underwriting profit",37,54,21,25,33,null,133,111,null,134,80,58]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,0,0,0,0,null,0,0,null,0,0,0]
["Catastrophe losses",35,17,39,18,7,null,81,50,null,81,64,25]
["Total current accident year catastrophe losses",35,17,39,18,7,null,81,50,null,81,64,25]
[]
["Prior year loss reserve development (favorable) / adverse",-13,-8,-9,0,6,null,-11,-33,null,-11,-3,6]
[]
["Combined ratio:"]
["Loss and LAE ratio",0.41100000000000003,0.38099999999999995,0.46499999999999997,0.42099999999999999,0.40500000000000003,null,0.41799999999999998,0.378,null,0.41599999999999998,0.42899999999999999,0.41199999999999998]
["Underwriting expense ratio",0.45900000000000002,0.42599999999999999,0.45800000000000002,0.47599999999999998,0.46100000000000002,null,0.45400000000000001,0.49399999999999999,null,0.45500000000000002,0.46500000000000002,0.46899999999999997]
["Combined ratio",0.87000000000000011,0.80699999999999994,0.92300000000000004,0.89700000000000002,0.8660000000000001,null,0.872,0.872,null,0.871,0.89400000000000002,0.88100000000000001]
[]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.79700000000000004,0.77499999999999991,0.81200000000000006,0.82399999999999995,0.81,null,0.80400000000000005,0.85199999999999998,null,0.80400000000000005,0.81400000000000006,0.81699999999999995]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.33800000000000002,0.34899999999999998,0.35399999999999998,0.34799999999999998,0.34899999999999998,null,0.35,0.35799999999999998,null,0.34899999999999998,0.34899999999999998,0.34799999999999998]
["Prior accident year loss reserve development",-4.5999999999999999E-2,-2.9000000000000001E-2,-3.2000000000000001E-2,0,2.4E-2,null,-0.01,-3.6999999999999998E-2,null,-1.0999999999999999E-2,-4.0000000000000001E-3,1.2E-2]
["Current accident year catastrophe losses",0.11899999999999999,6.0999999999999999E-2,0.14299999999999999,7.2999999999999995E-2,3.2000000000000001E-2,null,7.8E-2,5.7000000000000002E-2,null,7.8E-2,8.4000000000000005E-2,5.1999999999999998E-2]
["Loss and LAE ratio",0.41100000000000003,0.38099999999999995,0.46499999999999997,0.42099999999999999,0.40500000000000003,null,0.41799999999999998,0.378,null,0.41599999999999998,0.42899999999999999,0.41199999999999998]

{"sheet":"Pg 11 Balance Sheet","index":11,"n_rows":36,"n_cols":7,"rows_kept":36,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Consolidated Balance Sheet"]
["($ in millions)"]
[]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31","2023-12-31"]
["Assets:"]
["Total cash and investments",15994,15852,15741,15261,15254,15263]
["Recoverables from reinsurers",4945,5176,5217,4157,4510,4477]
["Prepaid reinsurance premiums",1105,1013,1346,1143,1078,961]
["Agents' balances and premiums receivable",1589,1532,1995,1909,1606,1471]
["Deferred policy acquisition costs",316,320,340,328,309,309]
["Assets of managed investment entities",3848,4140,4332,4695,4669,4484]
["Other receivables",855,1123,1989,758,958,1171]
["Other assets",1337,1375,1326,1357,1312,1346]
["Goodwill",305,305,305,305,305,305]
["Total assets",30294,30836,32591,29913,30001,29787]
[]
["Liabilities and Equity:"]
["Unpaid losses and loss adjustment expenses",13970,14179,14206,12607,13050,13087]
["Unearned premiums",3710,3584,4320,3816,3650,3451]
["Payable to reinsurers",1028,1191,1620,1176,1078,1186]
["Liabilities of managed investment entities",3726,3965,4168,4536,4468,4307]
["Long-term debt",1476,1475,1475,1475,1475,1475]
["Other liabilities",1992,1976,2094,1919,2040,2023]
["Total liabilities",25902,26370,27883,25529,25761,25529]
[]
["Shareholders' equity:"]
["Common stock",84,84,84,84,84,84]
["Capital surplus",1409,1411,1400,1392,1382,1372]
["Retained earnings",3078,3211,3360,3239,3089,3121]
["Unrealized gains (losses) - fixed maturities",-141,-202,-100,-290,-278,-287]
["Unrealized gains (losses) - fixed maturity-related cash flow hedges",-7,-10,-7,-20,-22,-17]
["Other comprehensive income (loss), net of tax",-31,-28,-29,-21,-15,-15]
["Total shareholders' equity",4392,4466,4708,4384,4240,4258]
[]
["Total liabilities and equity",30294,30836,32591,29913,30001,29787]

{"sheet":"Pg 12 Book Value","index":12,"n_rows":27,"n_cols":7,"rows_kept":27,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Book Value Per Share and Price / Book Summary"]
["(in millions, except per share information)"]
[]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31","2023-12-31"]
[]
["Shareholders' equity",4392,4466,4708,4384,4240,4258]
["Accumulated other comprehensive income (loss)",-179,-240,-136,-331,-315,-319]
["Shareholders' equity, excluding AOCI",4571,4706,4844,4715,4555,4577]
["Goodwill",305,305,305,305,305,305]
["Intangibles",198,203,199,204,208,213]
["Tangible shareholders' equity, excluding AOCI",4068,4198,4340,4206,4042,4059]
[]
["Common shares outstanding",83.668000000000006,83.977999999999994,83.923000000000002,83.897000000000006,83.856999999999999,83.635999999999996]
[]
["Book value per share:"]
["Book value per share",52.503187359563988,53.180594917716547,56.099043170525363,52.25455022229638,50.57,50.911090917786602]
["Book value per share, excluding AOCI",54.632595496486111,56.028486270213634,57.709576278255071,56.189864119098416,54.318661530939579,54.72]
["Tangible, excluding AOCI",48.620739111727296,49.979282907428143,51.724071231962633,50.132901057248766,48.201104260824977,48.52]
[]
["Market capitalization"]
[]
["AFG's closing common share price",131.34,136.93,134.6,123.02,136.47999999999999,118.89]
[]
["Market capitalization",10989,11499,11296,10321,11445,9943]
[]
["Price / Book value per share, excluding AOCI",2.4040593130605994,2.4439353820771696,2.3323685370865768,2.1893628313328959,2.5125803205268933,2.1726973684210527]

{"sheet":"Pg 13 Capitalization","index":13,"n_rows":20,"n_cols":7,"rows_kept":20,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."," "]
["Capitalization"]
["($ in millions)"]
[]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31","2023-12-31"]
[]
["AFG senior obligations",823,823,823,823,823,823]
["Borrowings drawn under credit facility",0,0,0,0,0,0]
["Debt excluding subordinated debt",823,823,823,823,823,823]
[]
["AFG subordinated debentures",675,675,675,675,675,675]
["Total principal amount of long-term debt",1498,1498,1498,1498,1498,1498]
[]
["Shareholders' equity",4392,4466,4708,4384,4240,4258]
["Accumulated other comprehensive income (loss)",-179,-240,-136,-331,-315,-319]
["Total capital, excluding AOCI",6069,6204,6342,6213,6053,6075]
[]
["Ratio of debt to total capital, excluding AOCI:"]
["Including subordinated debt",0.24682814302191464,0.24145712443584785,0.23620309050772628,0.24110735554482537,0.24748058813811333,0.24658436213991769]
["Excluding subordinated debt",0.13560718405009062,0.13265635074145712,0.12976978871018607,0.13246418799291806,0.13596563687427721,0.13547325102880658]

{"sheet":"Pg 14 Additional Supp Data","index":14,"n_rows":24,"n_cols":13,"rows_kept":24,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Additional Supplemental Information"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
["Property and Casualty Insurance"]
[]
["Paid Losses (GAAP)",967,1179,897,969,989,null,4034,3426,null,4034,2855,1958]
[]
[]
[]
[]
[]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2023-12-31"]
["GAAP Equity (excluding AOCI)"]
[]
["Property and Casualty Insurance",5853,5962,6150,5919,5780,null,5710]
["Parent and other subsidiaries",-1282,-1256,-1306,-1204,-1225,null,-1133]
["AFG GAAP Equity (excluding AOCI)",4571,4706,4844,4715,4555,null,4577]
[null,""]
["Allowable dividends without regulatory approval"]
[]
["Property and Casualty Insurance",1004,1004,946,946,946,null,946]

{"sheet":"Pg 15 Inv_Schedule","index":15,"n_rows":34,"n_cols":7,"rows_kept":34,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Total Cash and Investments"]
["($ in millions)"]
[]
[null,"Carrying Value - March 31, 2025"]
[null,"Property and",null,null,null,"% of"]
[null,"Casualty","Parent &","Consolidate","Total AFG","Investment"]
[null,"Insurance"," Other","CLOs","Consolidated","Portfolio"]
["Total cash and investments:"]
["Cash and cash equivalents",1034,242,0,1276,0.08]
["Fixed maturities - Available for sale",10534,34,0,10568,0.66,""]
["Fixed maturities - Trading",71,0,0,71,0]
["Equity securities - Common stocks",341,0,0,341,0.02]
["Equity securities - Perpetual preferred",429,0,0,429,0.03]
["Investments accounted for using the equity method",2324,2,0,2326,0.15,""]
["Mortgage loans",827,0,0,827,0.05]
["Real estate and other investments",178,100,-122,156,0.01]
["Total cash and investments",15738,378,-122,15994,"100%"]
[null,null,null,""]
[]
[null,"Carrying Value - December 31, 2024"]
[null,"Property and",null,null,null,"% of"]
[null,"Casualty","Parent &","Consolidate","Total AFG","Investment"]
[null,"Insurance"," Other","CLOs","Consolidated","Portfolio"]
["Total cash and investments:"]
["Cash and cash equivalents",1105,301,0,1406,0.09]
["Fixed maturities - Available for sale",10356,42,0,10398,0.66,""]
["Fixed maturities - Trading",76,0,0,76,0]
["Equity securities - common stocks",336,0,0,336,0.02]
["Equity securities - perpetual preferred",415,0,0,415,0.03]
["Investments accounted for using the equity method",2275,2,0,2277,0.14000000000000001]
["Mortgage loans",791,0,0,791,0.05]
["Real estate and other investments",229,98,-174,153,0.01]
["Total cash and investments",15583,443,-174,15852,"100%"]

{"sheet":"Pg 16 Qtr_NII","index":16,"n_rows":37,"n_cols":13,"rows_kept":37,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Net Investment Income"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
["Property and Casualty Insurance:"]
["Gross investment income excluding alternative investments"]
["Fixed maturities",137,134,134,133,131,null,532,481,null,532,398,264]
["Equity securities",6,9,6,7,7,null,29,32,null,29,20,14]
["Other investments (a)",21,24,25,21,17,null,87,69,null,87,63,38]
["Gross investment income excluding alternative investments",164,167,165,161,155,null,648,582,null,648,481,316]
["Gross investment income from alternative investments (b)",12,33,36,33,56,null,158,163,null,158,125,89]
["Total gross investment income",176,200,201,194,211,null,806,745,null,806,606,405]
["Investment expenses",-6,-5,-6,-5,-6,null,-22,-16,null,-22,-17,-11]
["Total net investment income",170,195,195,189,205,null,784,729,null,784,589,394]
[]
["Average cash and investments (c)",15881,15718,15447,15346,15331,null,15479,14753,null,15479,15389,15321]
[]
["Average yield - fixed maturities before inv expenses (d)",5.1299999999999998E-2,5.0900000000000001E-2,5.0599999999999999E-2,5.04E-2,4.9299999999999997E-2,null,5.0200000000000002E-2,4.6699999999999998E-2,null,5.0200000000000002E-2,5.0099999999999999E-2,4.99E-2]
["Average yield - overall portfolio, net (d)","4.28%","4.96%","5.05%","4.93%","5.35%",null,"5.06%","4.94%",null,"5.06%","5.10%","5.14%"]
[]
["AFG consolidated net investment income:"]
["Property & Casualty core",170,195,195,189,205,null,784,729,null,784,589,394]
["Parent & other",5,7,7,8,7,null,29,40,null,29,22,15]
["Consolidate CLOs",-2,-8,-2,-9,-14,null,-33,-27,null,-33,-25,-23]
["Total net investment income",173,194,200,188,198,null,780,742,null,780,586,386]
[]
["Average cash and investments (c)",16140,15987,15748,15617,15616,null,15767,15254,null,15767,15682,15620]
[]
["Average yield - overall portfolio, net (d)","4.29%","4.85%","5.08%","4.82%","5.07%",null,"4.95%","4.86%",null,"4.95%","4.98%","4.94%"]
["Average yield - fixed maturities before inv expenses (d)",5.1299999999999998E-2,5.0999999999999997E-2,5.0799999999999998E-2,5.0599999999999999E-2,4.9500000000000002E-2,null,5.04E-2,4.7E-2,null,5.04E-2,5.0299999999999997E-2,5.0099999999999999E-2]
[]
["(a) Includes income from mortgage loans, real estate, short-term investments, and cash equivalents."]
["(b) Investment income on alternative investments is detailed on page 17."]
["(c) Average cash and investments is the average of the beginning and ending quarter balances, or the average of the five quarters balances."]
["(d) Average yield is calculated by dividing investment income for the period by the average balance."]

{"sheet":"Pg 17 Alt_Inv","index":17,"n_rows":43,"n_cols":13,"rows_kept":43,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Alternative Investments"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2025-03-31","2024-12-31","2024-09-30","2024-06-30","2024-03-31",null,"2024-12-31","2023-12-31",null,"2024-12-31","2024-09-30","2024-06-30"]
["Property and Casualty Insurance:"]
["Net Investment Income"]
["Fixed maturities MTM through investment income",-3,12,8,1,1,null,22,-1,null,22,10,2]
["Equity securities MTM through investment income (a)",0,12,20,9,16,null,57,38,null,57,45,25]
["Investments accounted for using the equity method (b)",13,1,6,14,25,null,46,99,null,46,45,39]
["AFG managed CLOs (eliminated in consolidation)",2,8,2,9,14,null,33,27,null,33,25,23]
["Total Property & Casualty",12,33,36,33,56,null,158,163,null,158,125,89]
[]
["Investments"]
["Fixed maturities MTM through investment income",50,75,51,32,18,null,75,17,null,75,51,32]
["Equity securities MTM through investment income (a)",232,222,563,544,494,null,222,440,null,222,563,544]
["Investments accounted for using the equity method (b)",2324,2275,1909,1880,1846,null,2275,1812,null,2275,1909,1880]
["AFG managed CLOs (eliminated in consolidation)",122,174,163,158,199,null,174,175,null,174,163,158]
["Total Property & Casualty",2728,2746,2686,2614,2557,null,2746,2444,null,2746,2686,2614]
[]
["Annualized Return - Property & Casualty",1.7999999999999999E-2,4.9000000000000002E-2,5.3999999999999999E-2,5.0999999999999997E-2,0.09,null,6.0999999999999999E-2,7.0000000000000007E-2,null,6.0999999999999999E-2,6.5000000000000002E-2,7.0000000000000007E-2]
[]
["AFG Consolidated:"]
["Net Investment Income"]
["Fixed maturities MTM through investment income",-3,12,8,1,1,null,22,-1,null,22,10,2]
["Equity securities MTM through investment income (a)",0,12,20,9,16,null,57,38,null,57,45,25]
["Investments accounted for using the equity method (b)",13,1,6,14,25,null,46,99,null,46,45,39]
["AFG managed CLOs (eliminated in consolidation)",2,8,2,9,14,null,33,27,null,33,25,23]
["Total AFG Consolidated ",12,33,36,33,56,null,158,163,null,158,125,89]
[null,"","","","","",null,"",null,null,"","",""]
["Investments"]
["Fixed maturities MTM through investment income",50,75,51,32,18,null,75,17,null,75,51,32]
["Equity securities MTM through investment income (a)",232,222,563,544,494,null,222,440,null,222,563,544]
["Investments accounted for using the equity method (b)",2326,2277,1911,1882,1848,null,2277,1814,null,2277,1911,1882]
["AFG managed CLOs (eliminated in consolidation)",122,174,163,158,199,null,174,175,null,174,163,158]
["Total AFG Consolidated ",2730,2748,2688,2616,2559,null,2748,2446,null,2748,2688,2616]
[]
["Annualized Return - AFG Consolidated",1.7999999999999999E-2,4.9000000000000002E-2,5.3999999999999999E-2,5.0999999999999997E-2,8.8999999999999996E-2,null,6.0999999999999999E-2,7.0000000000000007E-2,null,6.0999999999999999E-2,6.5000000000000002E-2,7.0000000000000007E-2]
[]
[]
["(a) AFG records holding gains and losses in net investment income on certain securities classified at purchase as \"fair value through net investment income.\""]
["(b) The majority of AFG's investments accounted for using the equity method mark their underlying assets to market through net income."]

{"sheet":"Pg 18 Inv_FM_Cons","index":18,"n_rows":37,"n_cols":7,"rows_kept":37,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Fixed Maturities - By Security Type - AFG Consolidated"]
["($ in millions )"]
[]
[null,null,null,null,null,"% of"]
[null,null,null,"Unrealized","% of","Investment"]
["March 31, 2025","Book Value (a)","Fair Value","Gain (Loss)","Fair Value","Portfolio"]
["US Government and government agencies",182,180,-2,0.02,0.01]
["States, municipalities and political subdivisions",921,875,-46,0.08,0.05]
["Foreign government",293,297,4,0.03,0.02]
["Residential mortgage-backed securities",2222,2118,-104,0.2,0.13]
["Commercial mortgage-backed securities",41,41,0,0,0]
["Collateralized loan obligations",1246,1241,-5,0.12,0.08]
["Other asset-backed securities",2414,2381,-33,0.22,0.15]
["Corporate and other bonds",3499,3506,7,"33%","22%"]
["Total AFG consolidated",10818,10639,-179,"100%","66%",""]
[null,null,null,null,""]
[]
["Approximate duration - P&C","3.0 years"]
["Approximate duration - P&C including cash","2.8 years"]
[null,null,null,null,null,"% of"]
[null,null,null,"Unrealized","% of","Investment"]
["December 31, 2024","Book Value (a)","Fair Value","Gain (Loss)","Fair Value","Portfolio"]
["US Government and government agencies",176,173,-3,0.02,0.01]
["States, municipalities and political subdivisions",905,859,-46,0.08,0.05]
["Foreign government",283,284,1,0.03,0.02]
["Residential mortgage-backed securities",2121,1989,-132,0.19,0.13]
["Commercial mortgage-backed securities",51,51,0,0,0]
["Collateralized loan obligations",1239,1237,-2,0.12,0.08]
["Other asset-backed securities",2406,2356,-50,0.22,0.15]
["Corporate and other bonds",3548,3525,-23,"34%","22%"]
["Total AFG consolidated",10729,10474,-255,"100%","66%",""]
[null,null,null,null,""]
["Approximate duration - P&C","3.1 years"]
["Approximate duration - P&C including cash","2.8 years"]
[]
["(a) Book Value is amortized cost, net of allowance for expected credit losses."]

{"sheet":"Pg 19 FM_Rating_NAIC","index":19,"n_rows":51,"n_cols":11,"rows_kept":51,"cut":false,"hidden":false,"merged":[]}
["Appendix A"]
["American Financial Group, Inc."]
["Fixed Maturities by Credit Rating & NAIC Designation by Type"]
["3/31/2025"]
["($ in millions)"]
[]
[]
[null,"Fair Value by Type"]
["Credit Rating (a)","US Gov","Munis","Frgn gov","RMBS","CMBS","CLOs","ABS","Corp/Oth","Total","% Total"]
["Investment grade"]
["AAA",0,359,269,1795,36,1187,809,13,4468,0.42]
["AA",180,468,10,130,4,49,312,173,1326,0.13]
["A",0,38,8,69,1,4,666,912,1698,0.16]
["BBB",0,8,10,34,0,0,523,1997,2572,0.24]
["  Subtotal - Investment grade",180,873,297,2028,41,1240,2310,3095,10064,0.95000000000000007]
[]
["BB",0,0,0,2,0,0,6,191,199,0.02]
["B",0,0,0,2,0,0,2,29,33,0]
["CCC, CC, C",0,0,0,28,0,0,2,11,41,0]
["D",0,0,0,0,0,0,0,9,9,"0%"]
["  Subtotal - Non-Investment grade",0,0,0,32,0,0,10,240,282,0.02]
[]
["Not Rated (b)",0,2,0,58,0,1,61,171,293,0.03]
[]
["Total",180,875,297,2118,41,1241,2381,3506,10639,"100%"]
[null,null,null,null,null,null,null,null,null,""]
[]
[null,"Fair Value by Type"]
["NAIC designation","US Gov","Munis","Frgn gov","RMBS","CMBS","CLOs","ABS","Corp/Oth","Total","% Total"]
["      1",180,862,241,2018,41,1229,1787,1111,7469,0.72]
["      2",0,8,0,23,0,0,511,1990,2532,"24%"]
["   Subtotal",180,870,241,2041,41,1229,2298,3101,10001,0.96]
[]
["      3",0,0,0,2,0,0,5,211,218,0.02]
["      4",0,0,0,0,0,0,1,40,41,0.01]
["      5",0,0,0,13,0,0,3,98,114,0.01]
["      6",0,0,0,2,0,0,2,11,15,"0%"]
["   Subtotal",0,0,0,17,0,0,11,360,388,"4%"]
[]
["Total insurance companies",180,870,241,2058,41,1229,2309,3461,10389,"100%"]
[]
["No NAIC designation (c)",0,0,0,0,0,1,25,11,37]
["Non-Insurance and Foreign Companies (d)",0,5,56,60,0,11,47,34,213]
["Total",180,875,297,2118,41,1241,2381,3506,10639,""]
[]
[" (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest."]
["  (b) For ABS, 54% are NAIC 1 and 41% do not have a designation."]
["       For Corp/Oth, 13% are NAIC 1, 16% NAIC 2 and 50% NAIC 5."]
["       For Total, 31% are NAIC 1, 10% NAIC 2, 34% NAIC 5 and 12% do not have a designation."]
[" (c) Surplus notes and CLO equity tranches that are classified as other invested assets for STAT."]
[" (d) 98% are investment grade rated."]

{"sheet":"Pg 20 FM_Rating_NAIC_PY","index":20,"n_rows":51,"n_cols":11,"rows_kept":51,"cut":false,"hidden":false,"merged":[]}
["Appendix B"]
["American Financial Group, Inc."]
["Fixed Maturities by Credit Rating & NAIC Designation by Type"]
["2024-12-31"]
["($ in millions)"]
[]
[]
[null,"Fair Value by Type"]
["Credit Rating (a)","US Gov","Munis","Frgn Gov","RMBS","CMBS","CLOs","ABS","Corp/Oth","Total","% Total"]
["Investment grade"]
["AAA",0,342,264,1717,39,1166,817,14,4359,0.42]
["AA",173,469,9,92,11,66,294,175,1289,0.12]
["A",0,38,5,69,1,4,648,925,1690,0.16]
["BBB",0,8,6,20,0,0,519,1990,2543,0.24]
["  Subtotal - Investment grade",173,857,284,1898,51,1236,2278,3104,9881,0.94000000000000006]
[]
["BB",0,0,0,2,0,0,7,167,176,0.02]
["B",0,0,0,2,0,0,2,33,37,0]
["CCC, CC, C",0,0,0,28,0,0,3,14,45,0.01]
["D",0,0,0,0,0,0,0,12,12,"0%"]
["  Subtotal - Non-Investment grade",0,0,0,32,0,0,12,226,270,0.03]
[]
["Not Rated (b)",0,2,0,59,0,1,66,195,323,0.03]
[]
["Total",173,859,284,1989,51,1237,2356,3525,10474,"100%"]
[null,null,null,null,null,null,null,null,null,""]
[]
[null,"Fair Value by Type"]
["NAIC designation","US Gov","Munis","Frgn gov","RMBS","CMBS","CLOs","ABS","Corp/Oth","Total","% Total"]
["      1",173,846,237,1898,51,1220,1759,1119,7303,0.71]
["      2",0,8,0,20,0,0,508,1988,2524,"25%"]
["   Subtotal",173,854,237,1918,51,1220,2267,3107,9827,0.96]
[]
["      3",0,0,0,8,0,0,7,172,187,0.02]
["      4",0,0,0,0,0,0,2,59,61,0.01]
["      5",0,0,0,6,0,0,4,127,137,0.01]
["      6",0,0,0,1,0,0,2,16,19,"0%"]
["   Subtotal",0,0,0,15,0,0,15,374,404,"4%"]
[]
["Total insurance companies",173,854,237,1933,51,1220,2282,3481,10231,"100%"]
[]
["No NAIC designation (c)",0,0,0,0,0,1,25,8,34]
["Non-Insurance and Foreign Companies (d)",0,5,47,56,0,16,49,36,209]
["Total",173,859,284,1989,51,1237,2356,3525,10474,""]
[]
[" (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest."]
["  (b) For ABS, 57% are NAIC 1 and 38% do not have a designation."]
["       For Corp/Oth, 9% are NAIC 1, 12% NAIC 2, 15% NAIC 4 and 57% NAIC 5."]
["       For Total, 29% are NAIC 1, 8% NAIC 2, 10% NAIC 4, 37% NAIC 5 and 11% do not have a designation."]
[" (c) Surplus notes and CLO equity tranches that are classified as other invested assets for STAT."]
[" (d) 98% are investment grade rated."]

{"sheet":"Pg 21 Corp_by_Rating","index":21,"n_rows":49,"n_cols":19,"rows_kept":49,"cut":false,"hidden":false,"merged":[[20,0,20,1],[29,0,29,1],[30,0,30,1],[31,0,31,1],[8,0,8,1],[9,0,9,1],[14,0,14,1],[15,0,15,1],[38,0,38,1],[32,0,32,1],[34,0,34,1],[35,0,35,1],[36,0,36,1],[37,0,37,1]]}
["Appendix C"]
["American Financial Group, Inc."]
["Corporate Securities by Credit Rating & NAIC Designation by Industry"]
["3/31/2025"]
["($ in millions)"]
[]
[]
[null,null,"Fair Value By Industry"]
["Credit Rating (a)",null,"Asset Managers","Banking","Insurance","Technology","Utilities","Other Financials","Consumer","Autos","REITs","Healthcare","Retailers","Basic Industry","Capital Goods","Media","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,0,0,11,0,0,0,0,0,0,0,0,0,0,2,13,0]
["AA",null,5,0,44,23,5,32,37,0,0,14,10,0,0,0,3,173,0.05]
["A",null,36,188,152,28,128,62,54,88,52,25,17,11,35,3,33,912,0.26]
["BBB",null,786,246,52,173,93,92,63,69,76,38,43,83,48,34,101,1997,"57%"]
["   Subtotal",null,827,434,248,235,226,186,154,157,128,77,70,94,83,37,139,3095,0.88]
[]
["BB",null,24,7,0,4,0,2,23,18,6,5,36,33,1,23,9,191,0.06]
["B",null,4,2,0,2,0,0,8,0,0,5,0,0,3,3,2,29,0.01]
["CCC, CC, C",null,0,0,0,2,0,0,0,0,0,9,0,0,0,0,0,11,0]
["D",null,0,0,0,0,0,0,0,0,0,0,9,0,0,0,0,9,"0%"]
["   Subtotal",null,28,9,0,8,0,2,31,18,6,19,45,33,4,26,11,240,7.0000000000000007E-2]
[]
["Not Rated (b)",null,0,3,7,12,0,31,12,1,6,43,14,0,20,20,2,171,"5%"]
[]
["Total",null,855,446,255,255,226,219,197,176,140,139,129,127,107,83,152,3506,"100%"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,""]
[]
[]
[null,null,"Fair Value By Industry"]
["NAIC designation",null,"Asset Managers","Banking","Insurance","Technology","Utilities","Other Financials","Consumer","Autos","REITs","Healthcare","Retailers","Basic Industry","Capital Goods","Media","Other","Total","% Total"]
["    1",null,41,185,194,61,133,108,93,88,52,42,27,11,37,3,36,1111,0.32]
["    2",null,772,247,51,169,91,91,70,68,76,50,43,81,46,32,103,1990,"58%"]
["   Subtotal",null,813,432,245,230,224,199,163,156,128,92,70,92,83,35,139,3101,0.9]
[]
["    3",null,34,7,0,5,0,4,24,18,6,16,36,27,2,23,9,211,0.06]
["    4",null,4,2,0,12,0,0,5,0,0,5,0,4,3,3,2,40,0.01]
["    5",null,0,0,0,3,0,10,2,0,6,25,14,1,18,20,-1,98,0.03]
["    6",null,0,0,0,0,0,1,1,0,0,0,9,0,0,0,0,11,"0%"]
["   Subtotal",null,38,9,0,20,0,15,32,18,12,46,59,32,23,46,10,360,0.1]
[]
["Total insurance companies",null,851,441,245,250,224,214,195,174,140,138,129,124,106,81,149,3461,"100%"]
[]
["No NAIC designation (c)",null,0,0,7,0,0,4,0,0,0,0,0,0,0,0,0,11]
["Non-Insurance and Foreign Companies","Total non-insurance",4,5,3,5,2,1,2,2,0,1,0,3,1,2,3,34]
["Total",null,855,446,255,255,226,219,197,176,140,139,129,127,107,83,152,3506]
[null,null,"","","","","","","","","","","","","","","",""]
[" (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest."]
["  (b) 13% of not rated securities are NAIC 1, 16% NAIC 2 and 50% NAIC 5."]
[" (c) Surplus notes that are classified as other invested assets for STAT."]

{"sheet":"Pg 22 Corp_by_Rating_PY","index":22,"n_rows":49,"n_cols":19,"rows_kept":49,"cut":false,"hidden":false,"merged":[[8,0,8,1],[9,0,9,1],[14,0,14,1],[15,0,15,1],[20,0,20,1],[29,0,29,1],[30,0,30,1],[31,0,31,1],[38,0,38,1],[32,0,32,1],[34,0,34,1],[35,0,35,1],[36,0,36,1],[37,0,37,1]]}
["Appendix D"]
["American Financial Group, Inc."]
["Corporate Securities by Credit Rating & NAIC Designation by Industry"]
["2024-12-31"]
["($ in millions)"]
[]
[]
[null,null,"Fair Value By Industry"]
["Credit Rating (a)",null,"Asset Managers","Banking","Technology","Insurance","Other Financials","Utilities","Consumer","Autos","Healthcare","REITs","Basic Industry","Retailers","Capital Goods","Media","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,0,11,0,0,0,0,0,0,0,0,0,0,0,3,14,0]
["AA",null,5,0,22,44,32,5,39,0,14,0,0,10,0,0,4,175,0.05]
["A",null,40,186,28,150,67,122,56,95,30,47,11,17,40,3,33,925,0.26]
["BBB",null,767,242,172,51,83,92,64,68,31,75,110,38,47,45,105,1990,"57%"]
["   Subtotal",null,812,428,233,245,182,219,159,163,75,122,121,65,87,48,145,3104,0.88]
[]
["BB",null,24,6,8,0,2,0,22,5,5,6,13,36,1,30,9,167,0.05]
["B",null,4,2,2,0,0,0,11,0,9,0,0,0,4,0,1,33,0.01]
["CCC, CC, C",null,0,0,2,0,0,0,0,0,12,0,0,0,0,0,0,14,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,12,0,0,0,12,"0%"]
["   Subtotal",null,28,8,12,0,2,0,33,5,26,6,13,48,5,30,10,226,0.06]
[]
["Not Rated (b)",null,0,0,16,7,43,0,12,2,47,8,0,15,23,20,2,195,"6%"]
[]
["Total",null,840,436,261,252,227,219,204,170,148,136,134,128,115,98,157,3525,"100%"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,""]
[]
[]
[null,null,"Fair Value By Industry"]
["NAIC designation",null,"Asset Managers","Banking","Technology","Insurance","Other Financials","Utilities","Consumer","Autos","Healthcare","REITs","Basic Industry","Retailers","Capital Goods","Media","Other","Total","% Total"]
["    1",null,45,183,61,191,113,127,94,95,46,47,11,27,40,3,36,1119,0.32]
["    2",null,763,239,168,50,83,90,71,66,43,75,107,37,47,44,105,1988,"57%"]
["   Subtotal",null,808,422,229,241,196,217,165,161,89,122,118,64,87,47,141,3107,0.89]
[]
["    3",null,24,6,8,1,4,0,27,5,6,6,8,36,2,30,9,172,0.05]
["    4",null,4,2,12,0,0,0,6,2,24,0,4,0,4,0,1,59,0.02]
["    5",null,0,0,7,0,24,0,2,0,28,8,1,15,21,20,1,127,0.04]
["    6",null,0,0,0,0,2,0,1,0,0,0,0,12,0,0,1,16,"0%"]
["   Subtotal",null,28,8,27,1,30,0,36,7,58,14,13,63,27,50,12,374,0.11]
[]
["Total insurance companies",null,836,430,256,242,226,217,201,168,147,136,131,127,114,97,153,3481,"100%"]
[]
["No NAIC designation (c)",null,0,0,0,7,1,0,0,0,0,0,0,0,0,0,0,8]
["Non-Insurance and Foreign Companies","Total non-insurance",4,6,5,3,0,2,3,2,1,0,3,1,1,1,4,36]
["Total",null,840,436,261,252,227,219,204,170,148,136,134,128,115,98,157,3525]
[null,null,"","","","","","","","","","","","","","","",""]
[" (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest."]
["  (b) 9% of not rated securities are NAIC 1, 12% NAIC 2, 15% NAIC 4 and 57% NAIC 5."]
[" (c) Surplus notes that are classified as other invested assets for STAT."]

{"sheet":"Pg 23 ABS_by_Rating","index":23,"n_rows":48,"n_cols":15,"rows_kept":48,"cut":false,"hidden":false,"merged":[[7,0,7,1],[8,0,8,1],[13,0,13,1],[14,0,14,1],[19,0,19,1],[35,0,35,1],[36,0,36,1],[37,0,37,1],[28,0,28,1],[29,0,29,1],[30,0,30,1],[31,0,31,1],[33,0,33,1],[34,0,34,1]]}
["Appendix E"]
["American Financial Group, Inc."]
["Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type"]
["3/31/2025"]
["($ in millions)"]
[]
[null,null,"Fair Value By Collateral Type"]
["Credit Rating (a)",null,"Whole Business","Commercial Real Estate","TruPS","Triple Net Lease","Railcar","Aircraft","Secured Financing","Single Family Rental","Auto","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,233,80,198,0,7,0,123,69,99,809,0.34]
["AA",null,76,0,149,15,29,3,20,0,0,20,312,0.13]
["A",null,10,0,3,17,162,141,69,0,0,264,666,0.28000000000000003]
["BBB",null,430,0,0,0,6,21,1,0,0,65,523,"22%"]
["   Subtotal",null,516,233,232,230,197,172,90,123,69,448,2310,0.97]
[]
["BB",null,0,0,0,0,0,4,1,0,0,1,6,0]
["B",null,0,0,0,0,0,1,1,0,0,0,2,0]
["CCC, CC, C",null,0,0,0,0,0,2,0,0,0,0,2,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,"0%"]
["   Subtotal",null,0,0,0,0,0,7,2,0,0,1,10,0]
[]
["Not Rated (b)",null,0,0,0,0,0,3,33,0,0,25,61,"3%"]
[]
["Total",null,516,233,232,230,197,182,125,123,69,474,2381,"100%"]
[null,null,null,null,null,null,null,null,null,null,null,null,""]
[]
[]
[null,null,"Fair Value By Collateral Type"]
["NAIC designation",null,"Whole Business","Commercial Real Estate","TruPS","Triple Net Lease","Railcar","Aircraft","Secured Financing","Single Family Rental","Auto","Other","Total","% Total"]
["    1",null,86,218,229,227,188,149,122,120,67,381,1787,0.77]
["    2",null,419,0,0,0,6,21,1,0,0,64,511,"22%"]
["   Subtotal",null,505,218,229,227,194,170,123,120,67,445,2298,0.99]
[]
["    3",null,0,0,0,0,0,3,2,0,0,0,5,0.01]
["    4",null,0,0,0,0,0,1,0,0,0,0,1,0]
["    5",null,0,0,0,0,0,3,0,0,0,0,3,0]
["    6",null,0,0,0,0,0,2,0,0,0,0,2,"0%"]
["   Subtotal",null,0,0,0,0,0,9,2,0,0,0,11,0.01]
[]
["Total insurance companies",null,505,218,229,227,194,179,125,120,67,445,2309,"100%"]
[]
["No NAIC designation",null,0,0,0,0,0,0,0,0,0,25,25]
["Non-Insurance and Foreign Companies",null,11,15,3,3,3,3,0,3,2,4,47]
["Total",null,516,233,232,230,197,182,125,123,69,474,2381,""]
[null,null,"","","","","","","","","","","",null,""]
[]
[" (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest."]
["  (b) 54% of not rated securities are NAIC 1 and 41% do not have a designation."]

{"sheet":"Pg 24 ABS_by_Rating_PY","index":24,"n_rows":48,"n_cols":15,"rows_kept":48,"cut":false,"hidden":false,"merged":[[7,0,7,1],[8,0,8,1],[13,0,13,1],[14,0,14,1],[19,0,19,1],[28,0,28,1],[29,0,29,1],[30,0,30,1],[37,0,37,1],[31,0,31,1],[33,0,33,1],[34,0,34,1],[35,0,35,1],[36,0,36,1]]}
["Appendix F"]
["American Financial Group, Inc."]
["Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type"]
["2024-12-31"]
["($ in millions)"]
[]
[null,null,"Fair Value By Collateral Type"]
["Credit Rating (a)",null,"Whole Business","Commercial Real Estate","Triple Net Lease","TruPS","Railcar","Aircraft","Secured Financing","Single Family Rental","Auto","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,258,191,46,0,7,17,125,69,104,817,0.35]
["AA",null,75,0,14,130,25,4,25,0,0,21,294,0.12]
["A",null,10,0,17,18,156,118,65,0,0,264,648,0.28000000000000003]
["BBB",null,427,0,0,0,6,21,1,0,0,64,519,"22%"]
["   Subtotal",null,512,258,222,194,187,150,108,125,69,453,2278,0.97]
[]
["BB",null,0,0,0,0,0,5,1,0,0,1,7,0]
["B",null,0,0,0,0,0,2,0,0,0,0,2,0]
["CCC, CC, C",null,0,0,0,0,0,3,0,0,0,0,3,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,"0%"]
["   Subtotal",null,0,0,0,0,0,10,1,0,0,1,12,0]
[]
["Not Rated (b)",null,0,0,0,0,0,2,33,0,0,31,66,"3%"]
[]
["Total",null,512,258,222,194,187,162,142,125,69,485,2356,"100%"]
[null,null,null,null,null,null,null,null,null,null,null,null,""]
[]
[]
[null,null,"Fair Value By Collateral Type"]
["NAIC designation",null,"Whole Business","Commercial Real Estate","Triple Net Lease","TruPS","Railcar","Aircraft","Secured Financing","Single Family Rental","Auto","Other","Total","% Total"]
["    1",null,85,240,219,191,179,127,139,121,67,391,1759,0.77]
["    2",null,416,0,0,0,6,21,1,0,0,64,508,"22%"]
["   Subtotal",null,501,240,219,191,185,148,140,121,67,455,2267,0.99]
[]
["    3",null,0,0,0,0,0,4,2,0,0,1,7,0.01]
["    4",null,0,0,0,0,0,2,0,0,0,0,2,0]
["    5",null,0,0,0,0,0,3,0,0,0,1,4,0]
["    6",null,0,0,0,0,0,2,0,0,0,0,2,"0%"]
["   Subtotal",null,0,0,0,0,0,11,2,0,0,2,15,0.01]
[]
["Total insurance companies",null,501,240,219,191,185,159,142,121,67,457,2282,"100%"]
[]
["No NAIC designation",null,0,0,0,0,0,0,0,0,0,25,25]
["Non-Insurance and Foreign Companies",null,11,18,3,3,2,3,0,4,2,3,49]
["Total",null,512,258,222,194,187,162,142,125,69,485,2356,""]
[null,null,"","","","","","","","","","","",null,""]
[]
[" (a) If two agencies rate a security, the rating displayed above is the lower of the two; if three or more agencies rate a security, the rating displayed is the second lowest."]
["  (b) 57% of not rated securities are NAIC 1 and 38% do not have a designation."]

{"sheet":"Pg 25 Real_Estate_Investment","index":25,"n_rows":50,"n_cols":5,"rows_kept":50,"cut":false,"hidden":false,"merged":[]}
["Appendix G"]
["American Financial Group, Inc."]
["Real Estate-Related Investments"]
["3/31/2025"]
["($ in millions)"]
[]
[]
[]
["Investments accounted for using equity method (Real Estate Funds/Investments) (a)"]
[]
[null,null,"% of "]
["Investment Type","Book Value","Book Value","Occupancy (b)","Collection Rate (c)"]
[]
[" Multi-family",1254,0.88,0.92,0.97]
[" Fund Investments",99,7.0000000000000007E-2,"-","-"]
[" QOZ Fund - Development",27,0.02,"-","-"]
[" Office",17,0.01,0.86,1]
[" Marina",16,0.01,"-","-"]
[" Hospitality",11,0.01,"-","-"]
[" Land Development",5,0,"-","-"]
["Total ",1429,"100%"]
[]
[]
["Real Estate"]
[null,null,"% of "]
["Property Type","Book Value","Book Value","Debt"]
[]
["Resort & Marina",49,0.51,0]
["Marina",36,0.37,0]
["Office Building",10,0.1,0]
["Land",2,"2%",0]
["Total ",97,"100%",0]
[]
[]
["Mortgage Loans"]
[null,null,"% of ","Loan To "]
["Property Type","Book Value","Book Value","Value"]
[]
["Multifamily",605,0.73,0.66]
["Hospitality",121,0.15,0.49]
["Marina",52,0.06,0.52]
["Office",49,"6%","98%"]
["Total ",827,"100%","64%",""]
[null,""]
["Currently, no loans are receiving interest deferral through forbearance agreements. "]
[]
[]
["(a) Total investments accounted for using the equity method is $2.3 billion, the amounts presented in this table only relate to real estate funds/investments."]
["(b) Occupancy as of 3/31/25"]
["(c) Collections for January - March"]

{"sheet":"Pg 26 Real_Estate_Investment_PY","index":26,"n_rows":50,"n_cols":5,"rows_kept":50,"cut":false,"hidden":false,"merged":[]}
["Appendix H"]
["American Financial Group, Inc."]
["Real Estate-Related Investments"]
["2024-12-31"]
["($ in millions)"]
[]
[]
[]
["Investments accounted for using equity method (Real Estate Funds/Investments) (a)"]
[]
[null,null,"% of "]
["Investment Type","Book Value","Book Value","Occupancy (b)","Collection Rate (c)"]
[]
[" Multi-family",1222,0.88,0.92,0.97]
[" Fund Investments",93,7.0000000000000007E-2,"-","-"]
[" QOZ Fund - Development",28,0.02,"-","-"]
[" Office",17,0.01,0.91,1]
[" Marina",16,0.01,"-","-"]
[" Hospitality",10,0.01,"-","-"]
[" Land Development",6,0,"-","-"]
["Total ",1392,"100%"]
[]
[]
["Real Estate"]
[null,null,"% of "]
["Property Type","Book Value","Book Value","Debt"]
[]
["Resort & Marina",50,0.52,0]
["Marina",35,0.37,0]
["Office Building",9,0.09,0]
["Land",2,"2%",0]
["Total ",96,"100%",0]
[]
[]
["Mortgage Loans"]
[null,null,"% of ","Loan To "]
["Property Type","Book Value","Book Value","Value"]
[]
["Multifamily",568,0.72,0.65]
["Hospitality",122,0.15,0.49]
["Marina",52,7.0000000000000007E-2,0.52]
["Office",49,"6%","98%"]
["Total ",791,"100%","64%"]
[]
["Currently, no loans are receiving interest deferral through forbearance agreements. "]
[]
[]
["(a) Total investments accounted for using the equity method is $2.3 billion, the amounts presented in this table only relate to real estate funds/investments."]
["(b) Occupancy as of 12/31/24"]
["(c) Collections for October - December"]