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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 2026"]
[]
[]
[null,null,null,null,null,null,null,"2026-04-29"]
[]
[]
[]
[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 2026",null,null,1]
[]
["Section","Page"]
[]
["Table of Contents - Investor Supplement - First Quarter 2026",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 3/31/2026",19]
["B.  Fixed Maturities by Credit Rating & NAIC Designation by Type 12/31/2025",20]
["C.  Corporate Securities by Credit Rating & NAIC Designation by Industry 3/31/2026",21]
["D.  Corporate Securities by Credit Rating & NAIC Designation by Industry 12/31/2025",22]
["E.  Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 3/31/2026",23]
["F.  Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 12/31/2025",24]
["G.  Real Estate-Related Investments 3/31/2026",25]
["H.  Real Estate-Related Investments 12/31/2025",26]

{"sheet":"Pg 3 Highlights","index":2,"n_rows":38,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
[]
[]
["Highlights"]
["Net earnings",191,299,215,174,154,null,842,887,"",842,543,328,null,0,0,0,0,0]
["Core net operating earnings",206,305,224,179,152,null,860,902,"",860,555,331,null,0,0,0,0,0]
["Total assets",32353,32642,33834,30669,30294,null,32642,30836,"",33834,33834,30669,null,0,0,0,0,0]
["Shareholders' equity, excluding AOCI (a)",4805,4870,4803,4648,4571,null,4870,4706,"",4803,4803,4648,null,0,0,0,0,0]
["Property and Casualty net written premiums",1664,1444,2252,1803,1611,null,7110,7139,"",7110,5666,3414,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Per share data",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Diluted earnings per share",2.29,3.58,2.58,2.0700000000000003,1.84,null,10.079999999999998,10.569999999999999,null,10.079999999999998,6.5,3.92,null,0,0,0,0,0]
["Core net operating earnings per share",2.4700000000000002,3.65,2.69,2.14,1.81,null,10.29,10.75,null,10.29,6.65,3.96,null,0,0,0,0,0]
["Book value per share, excluding AOCI (a)",57.831644320342775,58.377885929371153,57.589237539118237,55.74077183220205,54.632595496486111,null,58.377885929371153,56.028486270213634,null,57.589237539118237,57.589237539118237,55.74077183220205,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Dividends per common share",2.38,2.88,0.79999999999999982,0.79999999999999982,2.8,null,7.2799999999999994,9.43,null,7.2799999999999994,4.3999999999999995,3.5999999999999996,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Financial ratios",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Annualized return on equity (b)",0.158,0.247,0.182,0.15,0.13300000000000001,null,0.17799999999999999,0.19,null,0.17799999999999999,0.155,0.14099999999999999,null,0,0,0,0,0]
["Annualized core operating return on equity (b)",0.17,0.252,0.19,0.155,0.13100000000000001,null,0.182,0.193,null,0.182,0.158,0.14299999999999999,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Property and Casualty combined ratio - Specialty:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss & LAE ratio",0.56299999999999994,0.58599999999999997,0.67200000000000004,0.61099999999999999,0.61,null,0.622,0.63300000000000001,null,0.622,0.63400000000000001,0.61099999999999999,null,0,0,0,0,0]
["Underwriting expense ratio",0.34,0.255,0.25800000000000001,0.32,0.33,null,0.28799999999999998,0.27900000000000003,null,0.28799999999999998,0.29899999999999999,0.32500000000000001,null,0,0,0,0,0]
["Combined ratio - Specialty",0.90300000000000002,0.84099999999999997,0.93,0.93100000000000005,0.94,null,0.90999999999999992,0.91200000000000003,null,0.90999999999999992,0.93300000000000005,0.93599999999999994,null,0,0,0,0,0]
[]
[]
["(a) A reconciliation to the GAAP measure is on page 12."]
["(b) Excludes accumulated other comprehensive income."]

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["American Financial Group, Inc."]
["Summary of Earnings"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Twelve Months Ended"]
[null,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
["Property and Casualty Insurance"]
["Underwriting profit ",156,284,138,113,94,null,629,620,null,629,345,207,null,0,0,0,0,0]
["Net investment income",168,171,205,179,170,null,725,784,null,725,554,349,null,0,0,0,0,0]
["Other income (expense)",-15,-15,-15,-19,-18,null,-67,-76,null,-67,-52,-37,null,0,0,0,0,0]
["Property and Casualty Insurance operating earnings ",309,440,328,273,246,null,1287,1328,null,1287,847,519,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Interest expense of parent holding companies",-23,-23,-19,-19,-19,null,-80,-76,null,-80,-57,-38,null,0,0,0,0,0]
["Other expense",-29,-31,-29,-27,-33,null,-120,-114,null,-120,-89,-60,null,0,0,0,0,0]
["Pretax core operating earnings",257,386,280,227,194,null,1087,1138,null,1087,701,421,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Income tax expense",51,81,56,48,42,null,227,236,null,227,146,90,null,0,0,0,0,0]
["Core net operating earnings",206,305,224,179,152,null,860,902,null,860,555,331,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Non-core items, net of tax:  ",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Realized gains (losses) on securities",-15,-6,10,2,2,null,8,0,null,8,14,4,null,0,0,0,0,0]
["Realized gain on subsidiaries",0,0,1,0,0,null,1,0,null,1,1,-7,null,0,0,0,0,-4]
["Special A&E charges - Former Railroad and Manufacturing operations ",0,0,-20,0,0,null,-20,-11,null,-20,-20,null,null,0,0,0,0,0]
["Other non-core items",0,0,0,-7,0,null,-7,-4,null,-7,-7,0,null,0,0,0,0,4]
["Special A&E charges:  ",0,0,0,0,0,null,null,null,null,null,null,0,null,0,0,0,0,0]
["Property and Casualty Insurance run-off operations ",0,0,0,0,0,null,0,0,null,0,0,0,null,0,0,0,0,887]
["Gain (loss) on retirement of debt",0,0,0,0,0,null,0,0,null,0,0,0,null,0,0,0,0,0]
["Net earnings",191,299,215,174,154,null,842,887,null,842,543,328,null,0,0,0,0,0]

{"sheet":"Pg 5 Earnings Per Share","index":4,"n_rows":24,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
[]
["Core net operating earnings",206,305,224,179,152,null,860,902,null,860,555,331,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Net earnings",191,299,215,174,154,null,842,887,null,842,543,328,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Average number of diluted shares",83.263000000000005,83.411000000000001,83.397000000000006,83.488,83.841999999999999,null,83.533000000000001,83.903000000000006,null,83.533000000000001,83.573999999999998,83.664000000000001,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Diluted earnings per share:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Core net operating earnings per share",2.4700000000000002,3.65,2.69,2.14,1.81,null,10.29,10.75,null,10.29,6.65,3.96,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Realized gains (losses) on securities",-0.18,-7.0000000000000007E-2,0.12,0.02,0.03,null,0.11,0,null,0.11,0.17,0.05,null,0,0,0,0,0]
["Realized gain on subsidiaries",0,0,0.01,0,0,null,0.01,0,null,0.01,0.01,-0.09,null,0,0,0,0,-0.05]
["Special A&E charges - Former Railroad and Manufacturing operations ",0,0,-0.24,0,0,null,-0.24,-0.13,null,-0.24,-0.24,null,null,0,0,0,0,0]
["Other non-core items",0,0,0,-0.09,0,null,-0.09,-0.05,null,-0.09,-0.09,0,null,0,0,0,0,0.05]
["Special A&E charges:  ",null,null,null,null,null,null,null,null,null,null,null,0,null,0,0,0,0,-0.13]
["Property and Casualty Insurance run-off operations ",0,0,0,0,0,null,0,0,null,0,0,0,null,0,0,0,0,0]
["Gain (loss) on retirement of debt",0,0,0,0,0,null,0,0,null,0,0,0,null,0,0,0,0,0]
["Diluted earnings per share",2.29,3.58,2.58,2.0700000000000003,1.84,null,10.079999999999998,10.569999999999999,null,10.079999999999998,6.5,3.92,null,0,0,0,0,0]

{"sheet":"Pg 6 P&C_UW","index":5,"n_rows":46,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
[]
["Property and Transportation",65,216,55,27,37,null,335,214,null,335,119,64,null,0,0,0,0,0]
["Specialty Casualty",34,27,33,49,20,null,129,279,null,129,102,69,null,0,0,0,0,0]
["Specialty Financial",57,44,51,38,37,null,170,133,null,170,126,75,null,0,0,0,0,0]
["Underwriting profit - Specialty",156,287,139,114,94,null,634,626,null,634,347,208,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Other core charges, included in loss and LAE",0,-3,-1,-1,0,null,-5,-6,null,-5,-2,-1,null,0,0,0,0,0]
["Underwriting profit - Core",156,284,138,113,94,null,629,418,null,629,345,207,null,0,0,0,0,202]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Special A&E charges, included in loss and LAE",0,0,0,0,0,null,0,0,null,0,0,0,null,0,0,0,0,0]
["Underwriting profit - Property and Casualty Insurance",156,284,138,113,94,null,629,620,null,629,345,207,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Included in results above:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year catastrophe losses:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Catastrophe reinstatement premium",0,0,0,0,0,null,0,2,null,0,0,0,null,0,0,0,0,0]
["Catastrophe losses",35,4,23,38,72,null,137,180,null,137,133,110,null,0,0,0,0,0]
["Total current accident year catastrophe losses",35,4,23,38,72,null,137,182,null,137,133,110,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Prior year loss reserve development (favorable) / adverse",-70,-27,-23,-11,-20,null,-81,-64,null,-81,-54,-31,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Property and Transportation",0.87600000000000011,0.70599999999999996,0.94100000000000006,0.95200000000000007,0.92500000000000004,null,0.878,0.92446850672328373,null,0.878,0.94099999999999995,0.94,null,0,0,0,0,0]
["Specialty Casualty",0.95799999999999996,0.96699999999999997,0.95799999999999996,0.93900000000000006,0.97599999999999998,null,0.96,0.91226196473551635,null,0.96,0.95700000000000007,0.95799999999999996,null,0,0,0,0,0]
["Specialty Financial",0.79999999999999993,0.83000000000000007,0.81099999999999994,0.86099999999999999,0.87000000000000011,null,0.84400000000000008,0.872,null,0.84400000000000008,0.84800000000000009,0.86499999999999999,null,0,0,0,0,0]
["Combined ratio - Specialty ",0.90300000000000002,0.84099999999999997,0.93,0.93100000000000005,0.94,null,0.90999999999999992,0.91200000000000003,null,0.90999999999999992,0.93300000000000005,0.93599999999999994,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Other core charges",1E-3,2E-3,1E-3,0,1E-3,null,0,0,null,0,1E-3,0,null,0,0,0,0,0]
["Combined ratio",0.90400000000000003,0.84299999999999997,0.93100000000000005,0.93100000000000005,0.94099999999999995,null,0.90999999999999992,0.91200000000000003,"",0.90999999999999992,0.93400000000000005,0.93599999999999994,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["P&C combined ratio excl. catastrophe losses and prior year reserve development",0.92500000000000004,0.85499999999999998,0.93,0.91500000000000004,0.90799999999999992,null,0.90300000000000002,0.89600000000000002,null,0.90300000000000002,0.91900000000000004,0.91199999999999992,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE components:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year, excluding catastrophe losses",0.58499999999999996,0.6,0.67200000000000004,0.59499999999999997,0.57799999999999996,null,0.61499999999999999,0.61699999999999999,null,0.61499999999999999,0.62,0.58699999999999997,null,0,0,0,0,0]
["Prior accident year loss reserve development",-4.2999999999999997E-2,-1.4999999999999999E-2,-1.0999999999999999E-2,-7.0000000000000001E-3,-1.2999999999999999E-2,null,-1.0999999999999999E-2,-8.9999999999999993E-3,null,-1.0999999999999999E-2,-0.01,-0.01,null,0,0,0,0,0]
["Current accident year catastrophe losses",2.1999999999999999E-2,3.0000000000000001E-3,1.2E-2,2.3E-2,4.5999999999999999E-2,null,1.7999999999999999E-2,2.5000000000000001E-2,null,1.7999999999999999E-2,2.5000000000000001E-2,3.4000000000000002E-2,null,0,0,0,0,0]
["Loss and LAE ratio",0.56399999999999995,0.58799999999999997,0.67300000000000004,0.61099999999999999,0.61099999999999999,null,0.622,0.63300000000000001,null,0.622,0.63500000000000001,0.61099999999999999,null,0,0,0,0,0]
[]
[]
[]
["    "]

{"sheet":"Pg 7 P&C_Specialty_UW","index":6,"n_rows":37,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
[]
["Gross written premiums",2435,2085,3665,2653,2291,null,10694,10533,"",10694,8609,4944,null,0,0,0,0,0]
["Ceded reinsurance premiums",-771,-641,-1413,-850,-680,null,-3584,-3394,"",-3584,-2943,-1530,null,0,0,0,0,0]
["Net written premiums",1664,1444,2252,1803,1611,null,7110,7139,"",7110,5666,3414,null,0,0,0,0,0]
["Change in unearned premiums",-55,362,-239,-156,-31,null,-64,-103,"",-64,-426,-187,null,0,0,0,0,0]
["Net earned premiums",1609,1806,2013,1647,1580,null,7046,7036,"",7046,5240,3227,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,"",null,null,null,null,0,0,0,0,0]
["Loss and LAE",906,1058,1354,1006,965,null,4383,4449,"",4383,3325,1971,null,0,0,0,0,0]
["Underwriting expense",547,461,520,527,521,null,2029,1961,"",2029,1568,1048,null,0,0,0,0,0]
["Underwriting profit",156,287,139,114,94,null,634,626,"",634,347,208,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Included in results above:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year catastrophe losses:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Catastrophe reinstatement premium",0,0,0,0,0,null,0,2,"",0,0,0,null,0,0,0,0,0]
["Catastrophe losses",35,4,23,38,72,null,137,180,"",137,133,110,null,0,0,0,0,0]
["Total current accident year catastrophe losses",35,4,23,38,72,null,137,182,"",137,133,110,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Prior year loss reserve development (favorable) / adverse",-70,-30,-24,-12,-20,null,-86,-70,"",-86,-56,-32,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE ratio",0.56299999999999994,0.58599999999999997,0.67200000000000004,0.61099999999999999,0.61,null,0.622,0.63300000000000001,null,0.622,0.63400000000000001,0.61099999999999999,null,0,0,0,0,0]
["Underwriting expense ratio",0.34,0.255,0.25800000000000001,0.32,0.33,null,0.28799999999999998,0.27900000000000003,null,0.28799999999999998,0.29899999999999999,0.32500000000000001,null,0,0,0,0,0]
["Combined ratio",0.90300000000000002,0.84099999999999997,0.93,0.93100000000000005,0.94,null,0.90999999999999992,0.91200000000000003,null,0.90999999999999992,0.93300000000000005,0.93599999999999994,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.92500000000000004,0.85499999999999998,0.93,0.91500000000000004,0.90799999999999992,null,0.90199999999999991,0.89600000000000002,null,0.90199999999999991,0.91900000000000004,0.91199999999999992,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE components:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year, excluding catastrophe losses",0.58499999999999996,0.6,0.67200000000000004,0.59499999999999997,0.57799999999999996,null,0.61399999999999999,0.61699999999999999,null,0.61399999999999999,0.62,0.58699999999999997,null,0,0,0,0,0]
["Prior accident year loss reserve development",-4.3999999999999997E-2,-1.6E-2,-1.2E-2,-7.0000000000000001E-3,-1.2999999999999999E-2,null,-1.2E-2,-0.01,null,-1.2E-2,-1.0999999999999999E-2,-0.01,null,0,0,0,0,0]
["Current accident year catastrophe losses",2.1999999999999999E-2,2E-3,1.2E-2,2.3E-2,4.4999999999999998E-2,null,0.02,2.5999999999999999E-2,null,0.02,2.5000000000000001E-2,3.4000000000000002E-2,null,0,0,0,0,0]
["Loss and LAE ratio",0.56299999999999994,0.58599999999999997,0.67200000000000004,0.61099999999999999,0.61,null,0.622,0.63300000000000001,null,0.622,0.63400000000000001,0.61099999999999999,null,0,0,0,0,0]

{"sheet":"Pg 8 P&C_P&T_UW","index":7,"n_rows":37,"n_cols":19,"rows_kept":37,"cut":false,"hidden":false,"merged":[]}
["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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
[]
["Gross written premiums",999,612,1975,1247,897,null,4731,4735,null,4731,4119,2144,null,0,0,0,0,0]
["Ceded reinsurance premiums",-403,-214,-924,-488,-334,null,-1960,-1889,null,-1960,-1746,-822,null,0,0,0,0,0]
["Net written premiums",596,398,1051,759,563,null,2771,2846,null,2771,2373,1322,null,0,0,0,0,0]
["Change in unearned premiums",-70,337,-116,-183,-63,null,-25,-20,null,-25,-362,-246,null,0,0,0,0,0]
["Net earned premiums",526,735,935,576,500,null,2746,2826,null,2746,2011,1076,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE",301,417,728,387,311,null,1843,1972,null,1843,1426,698,null,0,0,0,0,0]
["Underwriting expense",160,102,152,162,152,null,568,640,null,568,466,314,null,0,0,0,0,0]
["Underwriting profit",65,216,55,27,37,null,335,214,null,335,119,64,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Included in results above:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year catastrophe losses:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Catastrophe reinstatement premium",0,0,0,0,0,null,0,1,null,0,0,0,null,0,0,0,0,0]
["Catastrophe losses",12,0,4,12,10,null,26,65,null,26,26,22,null,0,0,0,0,0]
["Total current accident year catastrophe losses",12,0,4,12,10,null,26,66,null,26,26,22,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Prior year loss reserve development (favorable) / adverse",-47,-20,-11,-13,-19,null,-63,-96,null,-63,-43,-32,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE ratio",0.57100000000000006,0.56799999999999995,0.77800000000000002,0.67200000000000004,0.621,null,0.67100000000000004,0.69799999999999995,null,0.67100000000000004,0.70899999999999996,0.64900000000000002,null,0,0,0,0,0]
["Underwriting expense ratio",0.30499999999999999,0.13800000000000001,0.16300000000000001,0.28000000000000003,0.30399999999999999,null,0.20699999999999999,0.22646850672328378,null,0.20699999999999999,0.23200000000000001,0.29099999999999998,null,0,0,0,0,0]
["Combined ratio",0.87600000000000011,0.70599999999999996,0.94100000000000006,0.95200000000000007,0.92500000000000004,null,0.878,0.92446850672328373,null,0.878,0.94099999999999995,0.94,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.94399999999999995,0.73399999999999999,0.94800000000000006,0.95400000000000007,0.94399999999999995,null,0.89100000000000001,0.93546850672328374,null,0.89100000000000001,0.94899999999999995,0.94900000000000007,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE components:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year, excluding catastrophe losses",0.63900000000000001,0.59599999999999997,0.78500000000000003,0.67400000000000004,0.64,null,0.68400000000000005,0.70899999999999996,null,0.68400000000000005,0.71699999999999997,0.65800000000000003,null,0,0,0,0,0]
["Prior accident year loss reserve development",-0.09,-2.7E-2,-1.0999999999999999E-2,-2.1999999999999999E-2,-3.9E-2,null,-2.3E-2,-3.4000000000000002E-2,null,-2.3E-2,-2.1000000000000001E-2,-0.03,null,0,0,0,0,0]
["Current accident year catastrophe losses",2.1999999999999999E-2,-1E-3,4.0000000000000001E-3,0.02,0.02,null,0.01,2.3E-2,null,0.01,1.2999999999999999E-2,2.1000000000000001E-2,null,0,0,0,0,0]
["Loss and LAE ratio",0.57100000000000006,0.56799999999999995,0.77800000000000002,0.67200000000000004,0.621,null,0.67100000000000004,0.69799999999999995,null,0.67100000000000004,0.70899999999999996,0.64900000000000002,null,0,0,0,0,0]

{"sheet":"Pg 9 P&C_SC_UW","index":8,"n_rows":37,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
[]
["Gross written premiums",1089,1153,1337,1062,1068,null,4620,4543,null,4620,3467,2130,null,0,0,0,0,0]
["Ceded reinsurance premiums",-300,-357,-423,-297,-296,null,-1373,-1297,null,-1373,-1016,-593,null,0,0,0,0,0]
["Net written premiums",789,796,914,765,772,null,3247,3246,null,3247,2451,1537,null,0,0,0,0,0]
["Change in unearned premiums",10,16,-104,34,22,null,-32,-70,null,-32,-48,56,null,0,0,0,0,0]
["Net earned premiums",799,812,810,799,794,null,3215,3176,null,3215,2403,1593,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE",517,558,541,516,536,null,2151,2045,null,2151,1593,1052,null,0,0,0,0,0]
["Underwriting expense",248,227,236,234,238,null,935,852,null,935,708,472,null,0,0,0,0,0]
["Underwriting profit",34,27,33,49,20,null,129,279,null,129,102,69,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Included in results above:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year catastrophe losses:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Catastrophe reinstatement premium",0,0,0,0,0,null,0,1,null,0,0,0,null,0,0,0,0,0]
["Catastrophe losses",11,-3,8,7,27,null,39,34,null,39,42,34,null,0,0,0,0,0]
["Total current accident year catastrophe losses",11,-3,8,7,27,null,39,35,null,39,42,34,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Prior year loss reserve development (favorable) / adverse",0,-1,-1,10,12,null,20,37,null,20,21,22,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE ratio",0.64700000000000002,0.68699999999999994,0.66800000000000004,0.64500000000000002,0.67600000000000005,null,0.66900000000000004,0.64400000000000002,null,0.66900000000000004,0.66300000000000003,0.66100000000000003,null,0,0,0,0,0]
["Underwriting expense ratio",0.311,0.28000000000000003,0.28999999999999998,0.29399999999999998,0.3,null,0.29099999999999998,0.26826196473551639,null,0.29099999999999998,0.29399999999999998,0.29699999999999999,null,0,0,0,0,0]
["Combined ratio",0.95799999999999996,0.96699999999999997,0.95799999999999996,0.93900000000000006,0.97599999999999998,null,0.96,0.91226196473551635,null,0.96,0.95700000000000007,0.95799999999999996,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.94399999999999995,0.97099999999999997,0.94900000000000007,0.91799999999999993,0.92599999999999993,null,0.94100000000000006,0.89026196473551633,null,0.94100000000000006,0.93100000000000005,0.92300000000000004,null,0,0,0,0,-9.9999999999988987E-4]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE components:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year, excluding catastrophe losses",0.63300000000000001,0.69099999999999995,0.65900000000000003,0.624,0.626,null,0.65,0.622,null,0.65,0.63700000000000001,0.626,null,0,0,0,0,-1.0000000000000009E-3]
["Prior accident year loss reserve development",0,-1E-3,-1E-3,1.2E-2,1.6E-2,null,6.0000000000000001E-3,1.2E-2,null,6.0000000000000001E-3,8.9999999999999993E-3,1.4E-2,null,0,0,0,0,0]
["Current accident year catastrophe losses",1.4E-2,-3.0000000000000001E-3,0.01,8.9999999999999993E-3,3.4000000000000002E-2,null,1.2999999999999999E-2,0.01,null,1.2999999999999999E-2,1.7000000000000001E-2,2.1000000000000001E-2,null,0,0,0,0,9.9999999999999915E-4]
["Loss and LAE ratio",0.64700000000000002,0.68699999999999994,0.66800000000000004,0.64500000000000002,0.67600000000000005,null,0.66900000000000004,0.64400000000000002,null,0.66900000000000004,0.66300000000000003,0.66100000000000003,null,0,0,0,0,0]

{"sheet":"Pg 10 P&C_SF_UW","index":9,"n_rows":37,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
[]
["Gross written premiums",347,320,353,344,326,null,1343,1255,null,1343,1023,670,null,0,0,0,0,0]
["Ceded reinsurance premiums",-68,-70,-66,-65,-50,null,-251,-208,null,-251,-181,-115,null,0,0,0,0,0]
["Net written premiums",279,250,287,279,276,null,1092,1047,null,1092,842,555,null,0,0,0,0,0]
["Change in unearned premiums",5,9,-19,-7,10,null,-7,-13,null,-7,-16,3,null,0,0,0,0,0]
["Net earned premiums",284,259,268,272,286,null,1085,1034,null,1085,826,558,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE",88,83,85,103,118,null,389,432,null,389,306,221,null,0,0,0,0,0]
["Underwriting expense",139,132,132,131,131,null,526,469,null,526,394,262,null,0,0,0,0,0]
["Underwriting profit",57,44,51,38,37,null,170,133,null,170,126,75,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Included in results above:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year catastrophe losses:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Catastrophe reinstatement premium",0,0,0,0,0,null,0,0,null,0,0,0,null,0,0,0,0,0]
["Catastrophe losses",12,7,11,19,35,null,72,81,null,72,65,54,null,0,0,0,0,0]
["Total current accident year catastrophe losses",12,7,11,19,35,null,72,81,null,72,65,54,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Prior year loss reserve development (favorable) / adverse",-23,-9,-12,-9,-13,null,-43,-11,null,-43,-34,-22,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE ratio",0.31199999999999994,0.32000000000000006,0.318,0.38100000000000006,0.41100000000000003,null,0.35900000000000004,0.41799999999999998,null,0.35900000000000004,0.37100000000000005,0.39600000000000002,null,0,0,0,0,0]
["Underwriting expense ratio",0.48799999999999999,0.51,0.49299999999999999,0.48,0.45900000000000002,null,0.48499999999999999,0.45400000000000001,null,0.48499999999999999,0.47699999999999998,0.46899999999999997,null,0,0,0,0,0]
["Combined ratio",0.79999999999999993,0.83000000000000007,0.81099999999999994,0.86099999999999999,0.87000000000000011,null,0.84400000000000008,0.872,null,0.84400000000000008,0.84800000000000009,0.86499999999999999,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.83699999999999997,0.83499999999999996,0.81699999999999995,0.82000000000000006,0.79700000000000004,null,0.81699999999999995,0.80400000000000005,null,0.81699999999999995,0.81099999999999994,0.80699999999999994,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Loss and LAE components:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Current accident year, excluding catastrophe losses",0.34899999999999998,0.32500000000000001,0.32400000000000001,0.34,0.33800000000000002,null,0.33200000000000002,0.35,null,0.33200000000000002,0.33400000000000002,0.33800000000000002,null,0,0,0,0,0]
["Prior accident year loss reserve development",-7.9000000000000001E-2,-0.03,-4.7E-2,-3.2000000000000001E-2,-4.5999999999999999E-2,null,-3.9E-2,-1.0999999999999999E-2,null,-3.9E-2,-4.2000000000000003E-2,-3.9E-2,null,0,0,0,0,9.9999999999999915E-4]
["Current accident year catastrophe losses",4.2000000000000003E-2,2.5000000000000001E-2,4.1000000000000002E-2,7.2999999999999995E-2,0.11899999999999999,null,6.6000000000000003E-2,7.9000000000000001E-2,null,6.6000000000000003E-2,7.9000000000000001E-2,9.7000000000000003E-2,null,0,0,0,0,-1.0000000000000009E-3]
["Loss and LAE ratio",0.31199999999999994,0.32000000000000006,0.318,0.38100000000000006,0.41100000000000003,null,0.35900000000000004,0.41799999999999998,null,0.35900000000000004,0.37100000000000005,0.39600000000000002,null,0,0,0,0,0]

{"sheet":"Pg 11 Balance Sheet","index":11,"n_rows":36,"n_cols":19,"rows_kept":36,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."]
["Consolidated Balance Sheet"]
["($ in millions)"]
[]
[null,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31","2024-12-31"]
["Assets:"]
["Total cash and investments",17143,17182,16761,16049,15994,15852,null,null,null,null,null,null,null,0,0,0,0,0]
["Recoverables from reinsurers",5303,5528,5565,4733,4945,5176,null,null,null,null,null,null,null,0,0,0,0,0]
["Prepaid reinsurance premiums",1211,1089,1443,1256,1105,1013,null,null,null,null,null,null,null,0,0,0,0,0]
["Agents' balances and premiums receivable",1670,1641,2034,1946,1589,1532,null,null,null,null,null,null,null,0,0,0,0,0]
["Deferred policy acquisition costs",334,333,349,345,316,320,null,null,null,null,null,null,null,0,0,0,0,0]
["Assets of managed investment entities",3987,4050,3972,3833,3848,4140,null,null,null,null,null,null,null,0,0,0,0,0]
["Other receivables",1058,1212,2075,877,855,1123,null,null,null,null,null,null,null,0,0,0,0,0]
["Other assets",1320,1280,1308,1325,1337,1375,null,null,null,null,null,null,null,0,0,0,0,0]
["Goodwill",327,327,327,305,305,305,null,null,null,null,null,null,null,0,0,0,0,0]
["Total assets",32353,32642,33834,30669,30294,30836,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Liabilities and Equity:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Unpaid losses and loss adjustment expenses",14914,15094,15079,13834,13970,14179,null,null,null,null,null,null,null,0,0,0,0,0]
["Unearned premiums",3911,3736,4450,4026,3710,3584,null,null,null,null,null,null,null,0,0,0,0,0]
["Payable to reinsurers",1065,1195,1578,1152,1028,1191,null,null,null,null,null,null,null,0,0,0,0,0]
["Liabilities of managed investment entities",3854,3907,3834,3685,3726,3965,null,null,null,null,null,null,null,0,0,0,0,0]
["Long-term debt",1820,1820,1820,1476,1476,1475,null,null,null,null,null,null,null,0,0,0,0,0]
["Other liabilities",2111,2070,2343,1980,1992,1976,null,null,null,null,null,null,null,0,0,0,0,0]
["Total liabilities",27675,27822,29104,26153,25902,26370,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Shareholders' equity:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Common stock",83,83,83,83,84,84,null,null,null,null,null,null,null,0,0,0,0,0]
["Capital surplus",1428,1430,1421,1414,1409,1411,null,null,null,null,null,null,null,0,0,0,0,0]
["Retained earnings",3294,3357,3299,3151,3078,3211,null,null,null,null,null,null,null,0,0,0,0,0]
["Unrealized gains (losses) - fixed maturities",-100,-22,-43,-101,-141,-202,null,null,null,null,null,null,null,0,0,0,0,0]
["Unrealized gains (losses) - fixed maturity-related cash flow hedges",-1,-2,-3,-5,-7,-10,null,null,null,null,null,null,null,0,0,0,0,0]
["Other comprehensive income (loss), net of tax",-26,-26,-27,-26,-31,-28,null,null,null,null,null,null,null,0,0,0,0,0]
["Total shareholders' equity",4678,4820,4730,4516,4392,4466,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Total liabilities and equity",32353,32642,33834,30669,30294,30836,null,null,null,null,null,null,null,0,0,0,0,0]

{"sheet":"Pg 12 Book Value","index":12,"n_rows":27,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31","2024-12-31"]
[]
["Shareholders' equity",4678,4820,4730,4516,4392,4466,null,null,null,null,null,null,null,0,0,0,0,0]
["Accumulated other comprehensive income (loss)",-127,-50,-73,-132,-179,-240,null,null,null,null,null,null,null,0,0,0,0,0]
["Shareholders' equity, excluding AOCI",4805,4870,4803,4648,4571,4706,null,null,null,null,null,null,null,0,0,0,0,0]
["Goodwill",327,327,327,305,305,305,null,null,null,null,null,null,null,0,0,0,0,0]
["Intangibles",184,189,192,193,198,203,null,null,null,null,null,null,null,0,0,0,0,0]
["Tangible shareholders' equity, excluding AOCI",4294,4354,4284,4150,4068,4198,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Common shares outstanding",83.085999999999999,83.421999999999997,83.400999999999996,83.385999999999996,83.668000000000006,83.977999999999994,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Book value per share:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Book value per share",56.303107623426328,57.77852365083551,56.723948274001515,54.147772287914044,52.503187359563988,53.180594917716547,null,null,null,null,null,null,null,0,0,0,0,0]
["Book value per share, excluding AOCI",57.831644320342775,58.377885929371153,57.589237539118237,55.74077183220205,54.632595496486111,56.028486270213634,null,null,null,null,null,null,null,0,0,0,0,0]
["Tangible, excluding AOCI",51.69139036660809,52.202467214883363,51.376290572055488,49.768546278751835,48.620739111727296,49.979282907428143,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Market capitalization",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["AFG's closing common share price",127.71,136.68,145.72,126.21,131.34,136.93,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Market capitalization",10611,11402,12153,10524,10989,11499,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Price / Book value per share, excluding AOCI",2.2083065681581684,2.3412975277207391,2.5303338996460547,2.2642312951807226,2.4040593130605994,2.4439353820771696,null,null,null,null,null,null,null,0,0,0,0,0]

{"sheet":"Pg 13 Capitalization","index":13,"n_rows":20,"n_cols":19,"rows_kept":20,"cut":false,"hidden":false,"merged":[]}
["American Financial Group, Inc."," "]
["Capitalization"]
["($ in millions)"]
[]
[null,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31","2024-12-31"]
[]
["AFG senior obligations",1173,1173,1173,823,823,823,null,null,null,null,null,null,null,0,0,0,0,0]
["Borrowings drawn under credit facility",0,0,0,0,0,0,null,null,null,null,null,null,null,0,0,0,0,0]
["Debt excluding subordinated debt",1173,1173,1173,823,823,823,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["AFG subordinated debentures",675,675,675,675,675,675,null,null,null,null,null,null,null,0,0,0,0,0]
["Total principal amount of long-term debt",1848,1848,1848,1498,1498,1498,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Shareholders' equity",4678,4820,4730,4516,4392,4466,null,null,null,null,null,null,null,0,0,0,0,0]
["Accumulated other comprehensive income (loss)",-127,-50,-73,-132,-179,-240,null,null,null,null,null,null,null,0,0,0,0,0]
["Total capital, excluding AOCI",6653,6718,6651,6146,6069,6204,null,null,null,null,null,null,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Ratio of debt to total capital, excluding AOCI:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Including subordinated debt",0.27776942732601834,0.27508186960404885,0.27785295444294089,0.24373576309794989,0.24682814302191464,0.24145712443584785,null,null,null,null,null,null,null,0,0,0,0,0]
["Excluding subordinated debt",0.17631143844882008,0.17460553736231021,0.17636445647271087,0.13390823299707127,0.13560718405009062,0.13265635074145712,null,null,null,null,null,null,null,0,0,0,0,0]

{"sheet":"Pg 14 Additional Supp Data","index":14,"n_rows":24,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
["Property and Casualty Insurance"]
[]
["Paid Losses (GAAP)",888,984,936,931,967,null,3818,4034,null,3818,2834,1898,null,0,0,0,0,0]
[]
[]
[]
[]
[]
[null,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2024-12-31"]
["GAAP Equity (excluding AOCI)"]
[]
["Property and Casualty Insurance",6354,6354,6173,5935,5853,null,5962,null,null,null,null,null,null,0,0,0,0,0]
["Parent and other subsidiaries",-1549,-1484,-1370,-1287,-1282,null,-1256,null,null,null,null,null,null,0,0,0,0,0]
["AFG GAAP Equity (excluding AOCI)",4805,4870,4803,4648,4571,null,4706,null,null,null,null,null,null,0,0,0,0,0]
[null,""]
["Allowable dividends without regulatory approval"]
[]
["Property and Casualty Insurance",1083,1081,1004,1004,1004,null,1004,null,null,null,null,null,null,0,0,0,0,0]

{"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, 2026"]
[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",1115,238,0,1353,0.08]
["Fixed maturities - Available for sale",11274,123,0,11397,0.66,""]
["Fixed maturities - Trading",80,0,0,80,0.01]
["Equity securities - Common stocks",363,0,0,363,0.02]
["Equity securities - Perpetual preferred",390,0,0,390,0.02]
["Investments accounted for using the equity method",2440,3,0,2443,0.14000000000000001,""]
["Mortgage loans",961,0,0,961,0.06]
["Real estate and other investments",186,103,-133,156,0.01,""]
["Total cash and investments",16809,467,-133,17143,"100%"]
[null,null,null,""]
[]
[null,"Carrying Value - December 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",1377,350,0,1727,0.1]
["Fixed maturities - Available for sale",10923,129,0,11052,0.64,""]
["Fixed maturities - Trading",91,0,0,91,0.01]
["Equity securities - Common stocks",365,0,0,365,0.02]
["Equity securities - Perpetual preferred",420,0,0,420,0.02]
["Investments accounted for using the equity method",2419,2,0,2421,0.14000000000000001]
["Mortgage loans",947,0,0,947,0.06]
["Real estate and other investments",199,103,-143,159,0.01]
["Total cash and investments",16741,584,-143,17182,"100%"]

{"sheet":"Pg 16 Qtr_NII","index":16,"n_rows":37,"n_cols":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
["Property and Casualty Insurance:"]
["Gross investment income excluding alternative investments"]
["Fixed maturities",141,138,135,140,137,null,550,532,null,550,412,277,null,0,0,0,0,0]
["Equity securities",10,6,6,15,6,null,33,29,null,33,27,21,null,0,0,0,0,0]
["Other investments (a)",27,27,27,23,21,null,98,87,null,98,71,44,null,0,0,0,0,0]
["Gross investment income excluding alternative investments",178,171,168,178,164,null,681,648,null,681,510,342,null,0,0,0,0,0]
["Gross investment income from alternative investments (b)",-3,6,43,8,12,null,69,158,null,69,63,20,null,0,0,0,0,0]
["Total gross investment income",175,177,211,186,176,null,750,806,null,750,573,362,null,0,0,0,0,0]
["Investment expenses",-7,-6,-6,-7,-6,null,-25,-22,null,-25,-19,-13,null,0,0,0,0,0]
["Total net investment income",168,171,205,179,170,null,725,784,null,725,554,349,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Average cash and investments (c)",16855,16520,16095,15921,15881,null,16144,15479,null,16144,15988,15894,null,0,0,0,0,0]
[]
["Average yield - overall portfolio, net (d)","3.99%","4.14%","5.09%","4.50%","4.28%",null,"4.49%","5.06%",null,"4.49%","4.62%","4.39%",null,0,0,0,0,0]
["Average yield - fixed maturities before inv expenses (d)",5.04E-2,5.11E-2,5.1200000000000002E-2,5.2400000000000002E-2,5.1299999999999998E-2,null,5.1299999999999998E-2,5.0200000000000002E-2,null,5.1299999999999998E-2,5.1700000000000003E-2,5.1900000000000002E-2,null,0,0,0,0,0]
[]
["AFG consolidated net investment income:"]
["Property & Casualty core",168,171,205,179,170,null,725,784,null,725,554,349,null,0,0,0,0,0]
["Parent & other",6,7,6,7,5,null,25,29,null,25,18,12,null,0,0,0,0,0]
["Consolidate CLOs",13,5,-6,-2,-2,null,-5,-33,null,-5,-10,-4,null,0,0,0,0,0]
["Total net investment income",187,183,205,184,173,null,745,780,null,745,562,357,null,0,0,0,0,0]
[]
["Average cash and investments (c)",17240,17013,16496,16175,16140,null,16496,15767,null,16496,16318,16152,null,0,0,0,0,0]
[]
["Average yield - overall portfolio, net (d)","4.34%","4.30%","4.97%","4.55%","4.29%",null,"4.52%","4.95%",null,"4.52%","4.59%","4.42%",null,0,0,0,0,0]
["Average yield - fixed maturities before inv expenses (d)",5.0500000000000003E-2,5.11E-2,5.11E-2,5.2400000000000002E-2,5.1299999999999998E-2,null,5.1299999999999998E-2,5.04E-2,null,5.1299999999999998E-2,5.1700000000000003E-2,5.1999999999999998E-2,null,0,0,0,0,0]
[]
["(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":19,"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,"2026-03-31","2025-12-31","2025-09-30","2025-06-30","2025-03-31",null,"2025-12-31","2024-12-31",null,"2025-12-31","2025-09-30","2025-06-30"]
["Property and Casualty Insurance:"]
["Net Investment Income"]
["Fixed maturities MTM through investment income",2,1,16,8,-3,null,22,22,null,22,21,5,null,0,0,0,0,0]
["Equity securities MTM through investment income (a)",-10,-12,-6,4,0,null,-14,57,null,-14,-2,4,null,0,0,0,0,0]
["Investments accounted for using the equity method (b)",18,22,27,-6,13,null,56,46,null,56,34,7,null,0,0,0,0,0]
["AFG managed CLOs (eliminated in consolidation)",-13,-5,6,2,2,null,5,33,null,5,10,4,null,0,0,0,0,0]
["Total Property & Casualty",-3,6,43,8,12,null,69,158,null,69,63,20,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Investments",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Fixed maturities MTM through investment income",31,44,30,55,50,null,44,75,null,44,30,55,null,0,0,0,0,0]
["Equity securities MTM through investment income (a)",190,211,243,233,232,null,211,222,null,211,243,233,null,0,0,0,0,0]
["Investments accounted for using the equity method (b)",2440,2419,2381,2338,2324,null,2419,2275,null,2419,2381,2338,null,0,0,0,0,0]
["AFG managed CLOs (eliminated in consolidation)",133,143,138,148,122,null,143,174,null,143,138,148,null,0,0,0,0,0]
["Total Property & Casualty",2794,2817,2792,2774,2728,null,2817,2746,null,2817,2792,2774,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Annualized Return - Property & Casualty",-4.0000000000000001E-3,8.9999999999999993E-3,6.2E-2,1.2E-2,1.7999999999999999E-2,null,2.5000000000000001E-2,6.0999999999999999E-2,null,2.5000000000000001E-2,0.03,1.4999999999999999E-2,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["AFG Consolidated:",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Net Investment Income",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Fixed maturities MTM through investment income",2,1,16,8,-3,null,22,22,null,22,21,5,null,0,0,0,0,0]
["Equity securities MTM through investment income (a)",-10,-12,-6,4,0,null,-14,57,null,-14,-2,4,null,0,0,0,0,0]
["Investments accounted for using the equity method (b)",18,22,27,-6,13,null,56,46,null,56,34,7,null,0,0,0,0,0]
["AFG managed CLOs (eliminated in consolidation)",-13,-5,6,2,2,null,5,33,null,5,10,4,null,0,0,0,0,0]
["Total AFG Consolidated ",-3,6,43,8,12,null,69,158,null,69,63,20,null,0,0,0,0,0]
[null,"","","","","",null,"","",null,"","",""]
["Investments",null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Fixed maturities MTM through investment income",31,44,30,55,50,null,44,75,null,44,30,55,null,0,0,0,0,0]
["Equity securities MTM through investment income (a)",190,211,243,233,232,null,211,222,null,211,243,233,null,0,0,0,0,0]
["Investments accounted for using the equity method (b)",2443,2421,2383,2341,2326,null,2421,2277,null,2421,2383,2341,null,0,0,0,0,0]
["AFG managed CLOs (eliminated in consolidation)",133,143,138,148,122,null,143,174,null,143,138,148,null,0,0,0,0,0]
["Total AFG Consolidated ",2797,2819,2794,2777,2730,null,2819,2748,null,2819,2794,2777,null,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,0,0,0,0,0]
["Annualized Return - AFG Consolidated",-4.0000000000000001E-3,8.9999999999999993E-3,6.2E-2,1.2E-2,1.7999999999999999E-2,null,2.5000000000000001E-2,6.0999999999999999E-2,null,2.5000000000000001E-2,0.03,1.4999999999999999E-2,null,0,0,0,0,0]
[]
[]
["(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":35,"n_cols":7,"rows_kept":35,"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, 2026","Book Value (a)","Fair Value","Gain (Loss)","Fair Value","Portfolio"]
["US Government and government agencies",150,150,0,0.01,0.01]
["States, municipalities and political subdivisions",820,791,-29,7.0000000000000007E-2,0.05]
["Foreign government",302,303,1,0.03,0.02]
["Residential mortgage-backed securities",3245,3160,-85,0.28000000000000003,0.18]
["Collateralized loan obligations",1181,1180,-1,0.1,7.0000000000000007E-2]
["Other asset-backed securities",2603,2575,-28,0.22,0.15]
["Corporate and other bonds",3302,3318,16,"29%","19%"]
["Total AFG consolidated",11603,11477,-126,"100%","67%",""]
[null,null,null,null,""]
[]
["Approximate duration - P&C","3.4 years"]
["Approximate duration - P&C including cash","3.1 years"]
[null,null,null,null,null,"% of"]
[null,null,null,"Unrealized","% of","Investment"]
["December 31, 2025","Book Value (a)","Fair Value","Gain (Loss)","Fair Value","Portfolio"]
["US Government and government agencies",160,161,1,0.01,0.01]
["States, municipalities and political subdivisions",853,835,-18,7.0000000000000007E-2,0.05]
["Foreign government",301,303,2,0.03,0.02]
["Residential mortgage-backed securities",2807,2747,-60,0.25,0.16]
["Collateralized loan obligations",1162,1160,-2,0.1,7.0000000000000007E-2]
["Other asset-backed securities",2534,2525,-9,0.23,0.13999999999999999]
["Corporate and other bonds",3354,3412,58,"31%","20%"]
["Total AFG consolidated",11171,11143,-28,"100%","65%",""]
[null,null,null,null,""]
["Approximate duration - P&C","3.3 years"]
["Approximate duration - P&C including cash","2.9 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":10,"rows_kept":51,"cut":false,"hidden":false,"merged":[]}
["Appendix A"]
["American Financial Group, Inc."]
["Fixed Maturities by Credit Rating & NAIC Designation by Type"]
["3/31/2026"]
["($ in millions)"]
[]
[]
[null,"Fair Value by Type"]
["Credit Rating (a)","US Gov","Munis","Frgn Gov","RMBS","CLOs","ABS","Corp/Oth","Total","% Total"]
["Investment grade"]
["AAA",7,154,250,2708,1158,855,12,5144,0.45]
["AA",143,606,18,275,19,367,221,1649,0.14000000000000001]
["A",0,21,31,72,3,758,1030,1915,0.17]
["BBB",0,8,4,26,0,513,1785,2336,0.2]
["  Subtotal - Investment grade",150,789,303,3081,1180,2493,3048,11044,0.96000000000000019]
[]
["BB",0,0,0,1,0,4,116,121,0.01]
["B",0,0,0,1,0,1,18,20,0]
["CCC, CC, C",0,0,0,23,0,2,3,28,0]
["D",0,0,0,0,0,0,0,0,"0%"]
["  Subtotal - Non-Investment grade",0,0,0,25,0,7,137,169,0.01]
[]
["Not Rated (b)",0,2,0,54,0,75,133,264,0.03]
[]
["Total",150,791,303,3160,1180,2575,3318,11477,"100%"]
[null,null,null,null,null,null,null,null,""]
[]
[null,"Fair Value by Type"]
["NAIC designation","US Gov","Munis","Frgn Gov","RMBS","CLOs","ABS","Corp/Oth","Total","% Total"]
["      1",150,778,237,3051,1081,1962,1270,8529,0.77]
["      2",0,8,0,25,0,503,1759,2295,"21%"]
["   Subtotal",150,786,237,3076,1081,2465,3029,10824,0.98]
[]
["      3",0,0,0,1,0,5,149,155,0.01]
["      4",0,0,0,1,0,5,36,42,0]
["      5",0,0,0,12,0,1,57,70,0.01]
["      6",0,0,0,1,0,3,1,5,"0%"]
["   Subtotal",0,0,0,15,0,14,243,272,"2%"]
[]
["Total insurance companies",150,786,237,3091,1081,2479,3272,11096,"100%"]
[]
["No NAIC designation (c)",0,0,0,0,0,40,16,56]
["Non-Insurance and Foreign Companies (d)",0,5,66,69,99,56,30,325]
["Total",150,791,303,3160,1180,2575,3318,11477,""]
[]
[" (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, 39% are NAIC 1 and 53% do not have a designation."]
["       For Corp/Oth, 18% are NAIC 1, 11% NAIC 2, 15% NAIC 3, 10% NAIC 4 and 41% NAIC 5."]
["       For Total, 33% are NAIC 1, 25% NAIC 5 and 17% do not have a designation."]
[" (c) Surplus notes and CLO equity tranches that are classified as other invested assets for STAT."]
[" (d) 99% are investment grade rated."]

{"sheet":"Pg 20 FM_Rating_NAIC_PY","index":20,"n_rows":51,"n_cols":10,"rows_kept":51,"cut":false,"hidden":false,"merged":[]}
["Appendix B"]
["American Financial Group, Inc."]
["Fixed Maturities by Credit Rating & NAIC Designation by Type"]
["12/31/2025"]
["($ in millions)"]
[]
[]
[null,"Fair Value by Type"]
["Credit Rating (a)","US Gov","Munis","Frgn Gov","RMBS","CLOs","ABS","Corp/Oth","Total","% Total"]
["Investment grade"]
["AAA",0,161,255,2475,1137,831,13,4872,0.44]
["AA",161,644,14,87,20,349,222,1497,0.13]
["A",0,21,30,75,3,743,998,1870,0.17]
["BBB",0,8,4,27,0,520,1898,2457,0.22]
["  Subtotal - Investment grade",161,834,303,2664,1160,2443,3131,10696,0.96000000000000008]
[]
["BB",0,0,0,2,0,5,122,129,0.01]
["B",0,0,0,1,0,1,20,22,0]
["CCC, CC, C",0,0,0,25,0,2,3,30,0.01]
["D",0,0,0,0,0,0,0,0,"0%"]
["  Subtotal - Non-Investment grade",0,0,0,28,0,8,145,181,0.02]
[]
["Not Rated (b)",0,1,0,55,0,74,136,266,0.02]
[]
["Total",161,835,303,2747,1160,2525,3412,11143,"100%"]
[null,null,null,null,null,null,null,null,""]
[]
[null,"Fair Value by Type"]
["NAIC designation","US Gov","Munis","Frgn Gov","RMBS","CLOs","ABS","Corp/Oth","Total","% Total"]
["      1",161,822,239,2639,1059,1906,1230,8056,0.75]
["      2",0,8,0,26,0,509,1861,2404,"22%"]
["   Subtotal",161,830,239,2665,1059,2415,3091,10460,0.97]
[]
["      3",0,0,0,1,0,5,174,180,0.02]
["      4",0,0,0,1,0,5,35,41,0]
["      5",0,0,0,13,0,1,62,76,0.01]
["      6",0,0,0,1,0,3,1,5,"0%"]
["   Subtotal",0,0,0,16,0,14,272,302,"3%"]
[]
["Total insurance companies",161,830,239,2681,1059,2429,3363,10762,"100%"]
[]
["No NAIC designation (c)",0,0,0,0,0,39,17,56]
["Non-Insurance and Foreign Companies (d)",0,5,64,66,101,57,32,325]
["Total",161,835,303,2747,1160,2525,3412,11143,""]
[]
[" (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, 39% are NAIC 1 and 52% do not have a designation."]
["       For Corp/Oth, 12% are NAIC 1, 24% NAIC 3 and 43% NAIC 5."]
["       For Total, 37% are NAIC 1, 11% NAIC 3, 24% NAIC 5 and 15% do not have a designation."]
[" (c) Surplus notes and CLO equity tranches that are classified as other invested assets for STAT."]
[" (d) 99% are investment grade rated."]

{"sheet":"Pg 21 Corp_by_Rating","index":21,"n_rows":49,"n_cols":14,"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"]
["3/31/2026"]
["($ in millions)"]
[]
[]
[null,null,"Fair Value By Industry"]
["Credit Rating (a)",null,"Asset Managers","Banking","Insurance","Technology","Utilities","Other Financials","Consumer","Autos","Healthcare","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,0,0,11,0,0,0,0,0,1,12,0]
["AA",null,5,0,62,30,10,33,43,0,15,23,221,7.0000000000000007E-2]
["A",null,88,174,150,77,152,64,45,102,35,143,1030,0.31]
["BBB",null,720,268,52,144,89,78,40,50,38,306,1785,"54%"]
["   Subtotal",null,813,442,264,262,251,175,128,152,88,473,3048,0.92]
[]
["BB",null,0,8,0,4,0,0,8,17,4,75,116,0.03]
["B",null,0,2,0,0,0,0,7,0,4,5,18,0.01]
["CCC, CC, C",null,0,0,0,0,0,0,0,0,0,3,3,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,"0%"]
["   Subtotal",null,0,10,0,4,0,0,15,17,8,83,137,0.04]
[]
["Not Rated (b)",null,5,0,6,2,0,25,30,1,33,31,133,"4%"]
[]
["Total",null,818,452,270,268,251,200,173,170,129,587,3318,"100%"]
[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","Healthcare","Other","Total","% Total"]
["    1",null,93,170,210,117,162,101,91,102,50,174,1270,0.39]
["    2",null,719,266,51,143,87,58,46,49,38,302,1759,"54%"]
["   Subtotal",null,812,436,261,260,249,159,137,151,88,476,3029,0.93]
[]
["    3",null,0,8,0,3,0,19,16,17,16,70,149,0.05]
["    4",null,0,2,0,0,0,0,19,0,5,10,36,0.01]
["    5",null,0,0,0,1,0,11,1,0,20,24,57,0.01]
["    6",null,0,0,0,0,0,1,0,0,0,0,1,"0%"]
["   Subtotal",null,0,10,0,4,0,31,36,17,41,104,243,7.0000000000000007E-2]
[]
["Total insurance companies",null,812,446,261,264,249,190,173,168,129,580,3272,"100%"]
[]
["No NAIC designation (c)",null,0,0,6,0,0,10,0,0,0,0,16]
["Non-Insurance and Foreign Companies","Total non-insurance",6,6,3,4,2,0,0,2,0,7,30]
["Total",null,818,452,270,268,251,200,173,170,129,587,3318]
[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) 18% of not rated securities are NAIC 1, 11% NAIC 2, 15% NAIC 3, 10% NAIC 4 and 41% 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":14,"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"]
["12/31/2025"]
["($ in millions)"]
[]
[]
[null,null,"Fair Value By Industry"]
["Credit Rating (a)",null,"Banking","Other Financials","Insurance","Asset Managers","Technology","Utilities","Consumer","Autos","Healthcare","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,0,0,0,11,0,0,0,0,2,13,0]
["AA",null,0,32,58,5,30,10,49,0,15,23,222,0.06]
["A",null,179,70,155,52,48,151,51,101,36,155,998,0.28999999999999998]
["BBB",null,264,94,53,769,160,90,41,55,39,333,1898,"56%"]
["   Subtotal",null,443,196,266,826,249,251,141,156,90,513,3131,0.91]
[]
["BB",null,6,0,0,0,4,0,9,18,3,82,122,0.04]
["B",null,2,0,0,0,0,0,7,0,5,6,20,0.01]
["CCC, CC, C",null,0,0,0,0,0,0,0,0,0,3,3,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,"0%"]
["   Subtotal",null,8,0,0,0,4,0,16,18,8,91,145,0.05]
[]
["Not Rated (b)",null,0,25,6,0,2,0,28,1,43,31,136,"4%"]
[]
["Total",null,451,221,272,826,255,251,185,175,141,635,3412,"100%"]
[null,null,null,null,null,null,null,null,null,null,null,null,""]
[]
[]
[null,null,"Fair Value By Industry"]
["NAIC designation",null,"Banking","Other Financials","Insurance","Asset Managers","Technology","Utilities","Consumer","Autos","Healthcare","Other","Total","% Total"]
["    1",null,176,104,211,57,88,161,101,101,50,181,1230,0.37]
["    2",null,261,70,52,763,157,88,48,54,38,330,1861,"55%"]
["   Subtotal",null,437,174,263,820,245,249,149,155,88,511,3091,0.92]
[]
["    3",null,7,24,0,0,4,0,16,18,27,78,174,0.05]
["    4",null,2,0,0,0,0,0,18,0,5,10,35,0.01]
["    5",null,0,10,0,0,1,0,2,0,20,29,62,0.02]
["    6",null,0,1,0,0,0,0,0,0,0,0,1,"0%"]
["   Subtotal",null,9,35,0,0,5,0,36,18,52,117,272,0.08]
[]
["Total insurance companies",null,446,209,263,820,250,249,185,173,140,628,3363,"100%"]
[]
["No NAIC designation (c)",null,0,11,6,0,0,0,0,0,0,0,17]
["Non-Insurance and Foreign Companies","Total non-insurance",5,1,3,6,5,2,0,2,1,7,32]
["Total",null,451,221,272,826,255,251,185,175,141,635,3412]
[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) 12% of not rated securities are NAIC 1, 24% NAIC 3 and 43% 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"]
["3/31/2026"]
["($ in millions)"]
[]
[null,null,"Fair Value By Collateral Type"]
["Credit Rating (a)",null,"Whole Business","Triple Net Lease","Railcar","TruPS","Aircraft","Secured Financing","Single Family Rental","Auto","Commercial Real Estate","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,258,0,196,25,0,91,89,89,107,855,0.33]
["AA",null,69,51,112,60,14,30,0,0,0,31,367,0.14000000000000001]
["A",null,10,16,167,3,191,58,0,0,0,313,758,0.3]
["BBB",null,440,0,5,0,7,1,0,0,0,60,513,"20%"]
["   Subtotal",null,519,325,284,259,237,89,91,89,89,511,2493,0.97]
[]
["BB",null,0,0,0,0,1,1,0,0,0,2,4,0]
["B",null,0,0,0,0,0,1,0,0,0,0,1,0]
["CCC, CC, C",null,0,0,0,0,2,0,0,0,0,0,2,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,"0%"]
["   Subtotal",null,0,0,0,0,3,2,0,0,0,2,7,0]
[]
["Not Rated (b)",null,0,0,0,0,3,29,0,0,0,43,75,"3%"]
[]
["Total",null,519,325,284,259,243,120,91,89,89,556,2575,"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","Triple Net Lease","Railcar","TruPS","Aircraft","Secured Financing","Single Family Rental","Auto","Commercial Real Estate","Other","Total","% Total"]
["    1",null,79,317,262,257,228,117,88,84,83,447,1962,0.79]
["    2",null,432,0,5,0,6,1,0,0,0,59,503,"21%"]
["   Subtotal",null,511,317,267,257,234,118,88,84,83,506,2465,1]
[]
["    3",null,0,0,0,0,1,1,0,0,0,3,5,0]
["    4",null,0,0,0,0,0,1,0,0,0,4,5,0]
["    5",null,0,0,0,0,1,0,0,0,0,0,1,0]
["    6",null,0,0,0,0,3,0,0,0,0,0,3,"0%"]
["   Subtotal",null,0,0,0,0,5,2,0,0,0,7,14,0]
[]
["Total insurance companies",null,511,317,267,257,239,120,88,84,83,513,2479,"100%"]
[]
["No NAIC designation",null,0,0,0,0,1,0,0,0,0,39,40]
["Non-Insurance and Foreign Companies",null,8,8,17,2,3,0,3,5,6,4,56]
["Total",null,519,325,284,259,243,120,91,89,89,556,2575,""]
[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) 39% of not rated securities are NAIC 1 and 53% 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"]
["12/31/2025"]
["($ in millions)"]
[]
[null,null,"Fair Value By Collateral Type"]
["Credit Rating (a)",null,"Whole Business","Triple Net Lease","TruPS","Railcar","Aircraft","Secured Financing","Commercial Real Estate","Single Family Rental","Auto","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,231,170,0,15,0,113,93,92,117,831,0.33]
["AA",null,76,51,82,64,15,30,0,0,0,31,349,0.14000000000000001]
["A",null,10,16,3,169,175,63,0,0,0,307,743,0.28999999999999998]
["BBB",null,439,0,0,5,14,1,0,0,0,61,520,"21%"]
["   Subtotal",null,525,298,255,238,219,94,113,93,92,516,2443,0.97]
[]
["BB",null,0,0,0,0,2,1,0,0,0,2,5,0]
["B",null,0,0,0,0,1,0,0,0,0,0,1,0]
["CCC, CC, C",null,0,0,0,0,2,0,0,0,0,0,2,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,"0%"]
["   Subtotal",null,0,0,0,0,5,1,0,0,0,2,8,0]
[]
["Not Rated (b)",null,0,0,0,0,3,29,0,0,0,42,74,"3%"]
[]
["Total",null,525,298,255,238,227,124,113,93,92,560,2525,"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","Triple Net Lease","TruPS","Railcar","Aircraft","Secured Financing","Commercial Real Estate","Single Family Rental","Auto","Other","Total","% Total"]
["    1",null,86,290,252,219,203,121,106,90,87,452,1906,0.79]
["    2",null,431,0,0,5,13,1,0,0,0,59,509,"21%"]
["   Subtotal",null,517,290,252,224,216,122,106,90,87,511,2415,1]
[]
["    3",null,0,0,0,0,1,2,0,0,0,2,5,0]
["    4",null,0,0,0,0,1,0,0,0,0,4,5,0]
["    5",null,0,0,0,0,1,0,0,0,0,0,1,0]
["    6",null,0,0,0,0,3,0,0,0,0,0,3,"0%"]
["   Subtotal",null,0,0,0,0,6,2,0,0,0,6,14,0]
[]
["Total insurance companies",null,517,290,252,224,222,124,106,90,87,517,2429,"100%"]
[]
["No NAIC designation",null,0,0,0,0,2,0,0,0,0,37,39]
["Non-Insurance and Foreign Companies",null,8,8,3,14,3,0,7,3,5,6,57]
["Total",null,525,298,255,238,227,124,113,93,92,560,2525,""]
[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) 39% of not rated securities are NAIC 1 and 52% 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"]
["3/31/2026"]
["($ 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",1245,0.88,0.92,0.96]
[" Fund Investments",100,7.0000000000000007E-2,"-","-"]
[" QOZ Fund - Development",27,0.02,"-","-"]
[" Office",17,0.01,0.88,1]
[" Marina",15,0.01,"-","-"]
[" Hospitality",12,0.01,"-","-"]
[" Land Development",2,"0%","-","-"]
["Total ",1418,"100%"]
[]
[]
["Real Estate"]
[null,null,"% of "]
["Property Type","Book Value","Book Value","Debt"]
[]
["Resort & Marina",51,0.51,0]
["Marina",35,0.35,0]
["Office Building",12,0.12,0]
["Land",2,"2%",0]
["Total ",100,"100%",0]
[]
[]
["Mortgage Loans"]
[null,null,"% of ","Loan To "]
["Property Type","Book Value","Book Value","Value"]
[]
["Multifamily",703,0.73152965660770031,0.66]
["Hospitality",160,0.16649323621227888,0.42]
["Marina",52,5.4110301768990635E-2,0.52]
["Office",46,"5%","98%"]
["Total ",961,"100%","63%"]
[null,""]
["Currently, no loans are receiving interest deferral through forbearance agreements. "]
[]
[]
["(a) Total investments accounted for using the equity method is $2.4 billion, the amounts presented in this table only relate to real estate funds/investments."]
["(b) Occupancy as of 3/31/2026"]
["(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"]
["12/31/2025"]
["($ 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",1250,0.87,0.91,0.96]
[" Fund Investments",105,0.08,"-","-"]
[" QOZ Fund - Development",28,0.02,"-","-"]
[" Office",18,0.01,0.88,1]
[" Marina",16,0.01,"-","-"]
[" Hospitality",12,0.01,"-","-"]
[" Land Development",2,"0%","-","-"]
["Total ",1431,"100%"]
[]
[]
["Real Estate"]
[null,null,"% of "]
["Property Type","Book Value","Book Value","Debt"]
[]
["Resort & Marina",52,0.50980392156862742,0]
["Marina",35,0.34313725490196079,0]
["Office Building",13,0.12745098039215685,0]
["Land",2,"2%",0]
["Total ",102,"100%",0]
[]
[]
["Mortgage Loans"]
[null,null,"% of ","Loan To "]
["Property Type","Book Value","Book Value","Value"]
[]
["Multifamily",688,0.72650475184794083,0.66]
["Hospitality",160,0.16895459345300951,0.42]
["Marina",52,5.4910242872228086E-2,0.52]
["Office",47,"5%","98%"]
["Total ",947,"100%","63%"]
[null,""]
["Currently, no loans are receiving interest deferral through forbearance agreements. "]
[]
[]
["(a) Total investments accounted for using the equity method is $2.4 billion, the amounts presented in this table only relate to real estate funds/investments."]
["(b) Occupancy as of 12/31/2025"]
["(c) Collections for October - December"]