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[null,null,null,null,null,null,null,"American Financial Group, Inc."]
[null,null,null,null,null,null,null,"Investor Supplement - Third Quarter 2025"]
[]
[]
[null,null,null,null,null,null,null,"2025-11-04"]
[]
[]
[]
[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 - Third Quarter 2025",null,null,3]
[]
["Section","Page"]
[]
["Table of Contents - Investor Supplement - Third 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 9/30/2025",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 9/30/2025",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 9/30/2025",23]
["F.  Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 12/31/2024",24]
["G.  Real Estate-Related Investments 9/30/2025",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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
[]
["Highlights"]
["Net earnings",215,174,154,255,181,null,543,632,null,887,632,451]
["Core net operating earnings",224,179,152,262,194,null,555,640,null,902,640,446]
["Total assets",33834,30669,30294,30836,32591,null,33834,32591,"",32591,32591,29913]
["Shareholders' equity, excluding AOCI (a)",4803,4648,4571,4706,4844,null,4803,4844,"",4844,4844,4715]
["Property and Casualty net written premiums",2252,1803,1611,1460,2353,null,5666,5679,null,7139,5679,3326]
[]
[]
[]
["Per share data"]
["Diluted earnings per share",2.58,2.0700000000000003,1.84,3.0300000000000002,2.16,null,6.5,7.54,null,10.569999999999999,7.54,5.3800000000000008]
["Core net operating earnings per share",2.69,2.14,1.81,3.12,2.31,null,6.65,7.63,null,10.75,7.63,5.32]
["Book value per share, excluding AOCI (a)",57.589237539118237,55.74077183220205,54.632595496486111,56.028486270213634,57.709576278255071,null,57.589237539118237,57.709576278255071,null,57.709576278255071,57.709576278255071,56.189864119098416]
[]
["Dividends per common share",0.79999999999999982,0.79999999999999982,2.8,4.799999999999998,0.71,null,4.3999999999999995,4.63,null,9.43,4.63,3.92]
[]
[]
[]
["Financial ratios"]
["Annualized return on equity (b)",0.182,0.15,0.13300000000000001,0.21299999999999999,0.152,null,0.155,0.18,null,0.19,0.18,0.19500000000000001]
["Annualized core operating return on equity (b)",0.19,0.155,0.13100000000000001,0.219,0.16200000000000001,null,0.158,0.183,null,0.193,0.183,0.193]
[]
["Property and Casualty combined ratio - Specialty:"]
["Loss & LAE ratio",0.67200000000000004,0.61099999999999999,0.61,0.63700000000000001,0.69500000000000006,null,0.63400000000000001,0.63100000000000001,null,0.63300000000000001,0.63100000000000001,0.58799999999999997]
["Underwriting expense ratio",0.25800000000000001,0.32,0.33,0.253,0.248,null,0.29899999999999999,0.28799999999999998,null,0.27900000000000003,0.28799999999999998,0.314]
["Combined ratio - Specialty",0.93,0.93100000000000005,0.94,0.89,0.94300000000000006,null,0.93300000000000005,0.91900000000000004,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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
["Property and Casualty Insurance"]
["Underwriting profit ",138,113,94,202,115,null,345,418,null,620,418,303]
["Net investment income",205,179,170,195,195,null,554,589,null,784,589,394]
["Other income (expense)",-15,-19,-18,-19,-19,null,-52,-57,null,-76,-57,-38]
["Property and Casualty Insurance operating earnings ",328,273,246,378,291,null,847,950,null,1328,950,659]
[]
["Interest expense of parent holding companies",-19,-19,-19,-19,-19,null,-57,-57,null,-76,-57,-38]
["Other expense",-29,-27,-33,-29,-27,null,-89,-85,null,-114,-85,-58]
["Pretax core operating earnings",280,227,194,330,245,null,701,808,null,1138,808,563]
[]
["Income tax expense",56,48,42,68,51,null,146,168,null,236,168,117]
["Core net operating earnings",224,179,152,262,194,null,555,640,null,902,640,446]
[]
["Non-core items, net of tax:  "]
["Realized gains (losses) on securities",10,2,2,-7,-2,null,14,7,null,0,7,9]
["Realized gain on subsidiaries",1,0,0,0,0,null,1,0,null,0,0,-4]
["Special A&E charges - Former Railroad and Manufacturing operations ",-20,0,0,0,-11,null,-20,-11,null,-11,-11,0]
["Other non-core items",0,-7,0,0,0,null,-7,-4,null,-4,-4,0]
["Special A&E charges:  ",0,0,0,0,0]
["Property and Casualty Insurance run-off operations ",0,0,0,0,0,null,0,0,null,0,0,0]
["Gain (loss) on retirement of debt",0,0,0,0,0,null,0,0,null,0,0,0]
["Net earnings",215,174,154,255,181,null,543,632,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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Core net operating earnings",224,179,152,262,194,null,555,640,null,902,640,446]
[]
["Net earnings",215,174,154,255,181,null,543,632,null,887,632,451]
[]
["Average number of diluted shares",83.397000000000006,83.488,83.841999999999999,83.965999999999994,83.938999999999993,83.795000000000002,83.573999999999998,83.882000000000005,null,83.903000000000006,83.882000000000005,83.852999999999994]
[]
["Diluted earnings per share:"]
["Core net operating earnings per share",2.69,2.14,1.81,3.12,2.31,null,6.65,7.63,null,10.75,7.63,5.32]
[]
["Realized gains (losses) on securities",0.12,0.02,0.03,-0.09,-0.02,null,0.17,0.09,null,0,0.09,0.11]
["Realized gain on subsidiaries",0.01,0,0,0,0,null,0.01,0,null,0,0,-0.05]
["Special A&E charges - Former Railroad and Manufacturing operations ",-0.24,0,0,0,-0.13,null,-0.24,-0.13,null,-0.13,-0.13,0]
["Other non-core items",0,-0.09,0,0,0,null,-0.09,-0.05,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]
["Gain (loss) on retirement of debt",0,0,0,0,0,null,0,0,null,0,0,0]
["Diluted earnings per share",2.58,2.0700000000000003,1.84,3.0300000000000002,2.16,null,6.5,7.54,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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Property and Transportation",55,27,37,81,33,null,119,133,null,211,129,95]
["Specialty Casualty",33,49,20,69,63,null,102,210,null,340,258,182]
["Specialty Financial",51,38,37,54,21,null,126,79,null,134,80,58]
["Underwriting profit - Specialty",139,114,94,204,117,null,347,422,null,626,422,305]
[]
["Other core charges, included in loss and LAE",-1,-1,0,-2,-2,null,-2,-4,null,-6,-4,-2]
["Underwriting profit - Core",138,113,94,202,115,null,345,418,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",138,113,94,202,115,null,345,418,null,620,418,303]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,0,0,1,0,null,0,1,null,2,1,1]
["Catastrophe losses",23,38,72,20,90,null,133,160,null,180,160,70]
["Total current accident year catastrophe losses",23,38,72,21,90,null,133,161,null,182,161,71]
[]
["Prior year loss reserve development (favorable) / adverse",-23,-11,-20,36,-15,null,-54,-100,null,-64,-100,-85]
[]
["Combined ratio:"]
["Property and Transportation",0.94100000000000006,0.95200000000000007,0.92500000000000004,0.89500000000000002,0.96799999999999997,null,0.94099999999999995,0.93499999999999994,null,0.92399999999999993,0.93599999999999994,0.91000000000000014]
["Specialty Casualty",0.95799999999999996,0.93900000000000006,0.97599999999999998,0.91400000000000003,0.92100000000000004,null,0.95700000000000007,0.91100000000000003,null,0.88500000000000001,0.88400000000000001,0.877]
["Specialty Financial",0.81099999999999994,0.86099999999999999,0.87000000000000011,0.80699999999999994,0.92300000000000004,null,0.84800000000000009,0.89500000000000002,null,0.871,0.89400000000000002,0.88100000000000001]
["Combined ratio - Specialty ",0.93,0.93100000000000005,0.94,0.89,0.94300000000000006,null,0.93300000000000005,0.91900000000000004,null,0.91200000000000003,0.91900000000000004,0.90199999999999991]
[]
["Other core charges",1E-3,0,1E-3,1E-3,1E-3,null,1E-3,0,null,0,0,1E-3]
["Combined ratio",0.93100000000000005,0.93100000000000005,0.94099999999999995,0.89100000000000001,0.94400000000000006,null,0.93400000000000005,0.91900000000000004,null,0.91200000000000003,0.91900000000000004,0.90299999999999991]
[]
["P&C combined ratio excl. catastrophe losses and prior year reserve development",0.93,0.91500000000000004,0.90799999999999992,0.86099999999999999,0.90700000000000003,null,0.91900000000000004,0.90799999999999992,null,0.89600000000000002,0.90799999999999992,0.90700000000000003]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.67200000000000004,0.59499999999999997,0.57799999999999996,0.60799999999999998,0.65900000000000003,null,0.62,0.62,null,0.61699999999999999,0.62,0.59299999999999997]
["Prior accident year loss reserve development",-1.0999999999999999E-2,-7.0000000000000001E-3,-1.2999999999999999E-2,1.9E-2,-7.0000000000000001E-3,null,-0.01,-1.9E-2,null,-8.9999999999999993E-3,-1.9E-2,-2.7E-2]
["Current accident year catastrophe losses",1.2E-2,2.3E-2,4.5999999999999999E-2,1.0999999999999999E-2,4.3999999999999997E-2,null,2.5000000000000001E-2,0.03,null,2.5000000000000001E-2,0.03,2.3E-2]
["Loss and LAE ratio",0.67300000000000004,0.61099999999999999,0.61099999999999999,0.63800000000000001,0.69600000000000006,null,0.63500000000000001,0.63100000000000001,null,0.63300000000000001,0.63100000000000001,0.58899999999999997]
[]
[]
[]
["    "]

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["American Financial Group, Inc."]
["Specialty - Underwriting Results (GAAP)"]
["($ in millions)"]
[]
[null,"Three Months Ended",null,null,null,null,null,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Gross written premiums",3665,2653,2291,2043,3748,null,8609,8490,"",10533,8490,4742]
["Ceded reinsurance premiums",-1413,-850,-680,-583,-1395,null,-2943,-2811,"",-3394,-2811,-1416]
["Net written premiums",2252,1803,1611,1460,2353,null,5666,5679,"",7139,5679,3326]
["Change in unearned premiums",-239,-156,-31,390,-298,null,-426,-493,"",-103,-493,-195]
["Net earned premiums",2013,1647,1580,1850,2055,null,5240,5186,"",7036,5186,3131]
[]
["Loss and LAE",1354,1006,965,1179,1428,null,3325,3270,"",4449,3270,1842]
["Underwriting expense",520,527,521,467,510,null,1568,1494,"",1961,1494,984]
["Underwriting profit",139,114,94,204,117,null,347,422,"",626,422,305]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,0,0,1,0,null,0,1,"",2,1,1]
["Catastrophe losses",23,38,72,20,90,null,133,160,"",180,160,70]
["Total current accident year catastrophe losses",23,38,72,21,90,null,133,161,"",182,161,71]
[]
["Prior year loss reserve development (favorable) / adverse",-24,-12,-20,34,-17,null,-56,-104,"",-70,-104,-87]
[]
["Combined ratio:"]
["Loss and LAE ratio",0.67200000000000004,0.61099999999999999,0.61,0.63700000000000001,0.69500000000000006,null,0.63400000000000001,0.63100000000000001,null,0.63300000000000001,0.63100000000000001,0.58799999999999997]
["Underwriting expense ratio",0.25800000000000001,0.32,0.33,0.253,0.248,null,0.29899999999999999,0.28799999999999998,null,0.27900000000000003,0.28799999999999998,0.314]
["Combined ratio",0.93,0.93100000000000005,0.94,0.89,0.94300000000000006,null,0.93300000000000005,0.91900000000000004,null,0.91200000000000003,0.91900000000000004,0.90199999999999991]
[]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.93,0.91500000000000004,0.90799999999999992,0.86099999999999999,0.90700000000000003,null,0.91900000000000004,0.90799999999999992,null,0.89600000000000002,0.90799999999999992,0.90700000000000003]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.67200000000000004,0.59499999999999997,0.57799999999999996,0.60799999999999998,0.65900000000000003,null,0.62,0.62,null,0.61699999999999999,0.62,0.59299999999999997]
["Prior accident year loss reserve development",-1.2E-2,-7.0000000000000001E-3,-1.2999999999999999E-2,1.7999999999999999E-2,-8.0000000000000002E-3,null,-1.0999999999999999E-2,-0.02,null,-0.01,-0.02,-2.8000000000000001E-2]
["Current accident year catastrophe losses",1.2E-2,2.3E-2,4.4999999999999998E-2,1.0999999999999999E-2,4.3999999999999997E-2,null,2.5000000000000001E-2,3.1E-2,null,2.5999999999999999E-2,3.1E-2,2.3E-2]
["Loss and LAE ratio",0.67200000000000004,0.61099999999999999,0.61,0.63700000000000001,0.69500000000000006,null,0.63400000000000001,0.63100000000000001,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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Gross written premiums",1975,1247,897,585,2107,null,4119,4150,null,4735,4150,2043]
["Ceded reinsurance premiums",-924,-488,-334,-177,-956,null,-1746,-1712,null,-1924,-1738,-771]
["Net written premiums",1051,759,563,408,1151,null,2373,2438,null,2811,2412,1272]
["Change in unearned premiums",-116,-183,-63,357,-162,null,-362,-377,null,-18,-375,-216]
["Net earned premiums",935,576,500,765,989,null,2011,2061,null,2793,2037,1056]
[]
["Loss and LAE",728,387,311,531,784,null,1426,1441,null,1952,1429,652]
["Underwriting expense",152,162,152,153,172,null,466,487,null,630,479,309]
["Underwriting profit",55,27,37,81,33,null,119,133,null,211,129,95]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,0,0,1,0,null,0,0,null,1,0,0]
["Catastrophe losses",4,12,10,9,34,null,26,56,null,64,55,21]
["Total current accident year catastrophe losses",4,12,10,10,34,null,26,56,null,65,55,21]
[]
["Prior year loss reserve development (favorable) / adverse",-11,-13,-19,-2,-14,null,-43,-94,null,-94,-91,-76]
[]
["Combined ratio:"]
["Loss and LAE ratio",0.77800000000000002,0.67200000000000004,0.621,0.69500000000000006,0.79400000000000004,null,0.70899999999999996,0.69899999999999995,null,0.69899999999999995,0.70099999999999996,0.6170000000000001]
["Underwriting expense ratio",0.16300000000000001,0.28000000000000003,0.30399999999999999,0.2,0.17399999999999999,null,0.23200000000000001,0.23599999999999999,null,0.22500000000000001,0.23499999999999999,0.29299999999999998]
["Combined ratio",0.94100000000000006,0.95200000000000007,0.92500000000000004,0.89500000000000002,0.96799999999999997,null,0.94099999999999995,0.93499999999999994,null,0.92399999999999993,0.93599999999999994,0.91000000000000014]
[]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.94800000000000006,0.95400000000000007,0.94399999999999995,0.88500000000000001,0.94500000000000006,null,0.94899999999999995,0.95399999999999996,null,0.93499999999999994,0.95299999999999996,0.96100000000000008]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.78500000000000003,0.67400000000000004,0.64,0.68500000000000005,0.77100000000000002,null,0.71699999999999997,0.71799999999999997,null,0.71,0.71799999999999997,0.66800000000000004]
["Prior accident year loss reserve development",-1.0999999999999999E-2,-2.1999999999999999E-2,-3.9E-2,-2E-3,-1.4E-2,null,-2.1000000000000001E-2,-4.5999999999999999E-2,null,-3.4000000000000002E-2,-4.3999999999999997E-2,-7.1999999999999995E-2]
["Current accident year catastrophe losses",4.0000000000000001E-3,0.02,0.02,1.2E-2,3.6999999999999998E-2,null,1.2999999999999999E-2,2.7E-2,null,2.3E-2,2.7E-2,2.1000000000000001E-2]
["Loss and LAE ratio",0.77800000000000002,0.67200000000000004,0.621,0.69500000000000006,0.79400000000000004,null,0.70899999999999996,0.69899999999999995,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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Gross written premiums",1337,1062,1068,1126,1297,null,3467,3417,null,4543,3417,2120]
["Ceded reinsurance premiums",-423,-297,-296,-353,-380,null,-1016,-944,null,-1500,-1099,-665]
["Net written premiums",914,765,772,773,917,null,2451,2473,null,3043,2318,1455]
["Change in unearned premiums",-104,34,22,32,-120,null,-48,-102,null,-76,-105,14]
["Net earned premiums",810,799,794,805,797,null,2403,2371,null,2967,2213,1469]
[]
["Loss and LAE",541,516,536,541,519,null,1593,1504,null,1853,1358,885]
["Underwriting expense",236,234,238,195,215,null,708,657,null,774,597,402]
["Underwriting profit",33,49,20,69,63,null,102,210,null,340,258,182]
[]
["Included in results above:"]
["Current accident year catastrophe losses:"]
["Catastrophe reinstatement premium",0,0,0,0,0,null,0,1,null,1,1,1]
["Catastrophe losses",8,7,27,-6,17,null,42,40,null,31,36,20]
["Total current accident year catastrophe losses",8,7,27,-6,17,null,42,41,null,32,37,21]
[]
["Prior year loss reserve development (favorable) / adverse",-1,10,12,44,6,null,21,-7,null,-10,-46,-42]
[]
["Combined ratio:"]
["Loss and LAE ratio",0.66800000000000004,0.64500000000000002,0.67600000000000005,0.67200000000000004,0.65100000000000002,null,0.66300000000000003,0.63400000000000001,null,0.624,0.61399999999999999,0.60299999999999998]
["Underwriting expense ratio",0.28999999999999998,0.29399999999999998,0.3,0.24199999999999999,0.27,null,0.29399999999999998,0.27700000000000002,null,0.26100000000000001,0.27,0.27400000000000002]
["Combined ratio",0.95799999999999996,0.93900000000000006,0.97599999999999998,0.91400000000000003,0.92100000000000004,null,0.95700000000000007,0.91100000000000003,null,0.88500000000000001,0.88400000000000001,0.877]
[]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.94900000000000007,0.91799999999999993,0.92599999999999993,0.86699999999999999,0.89300000000000002,null,0.93100000000000005,0.89700000000000002,null,0.878,0.88700000000000001,0.89100000000000001]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.65900000000000003,0.624,0.626,0.625,0.623,null,0.63700000000000001,0.62,null,0.61699999999999999,0.61699999999999999,0.61699999999999999]
["Prior accident year loss reserve development",-1E-3,1.2E-2,1.6E-2,5.3999999999999999E-2,8.0000000000000002E-3,null,8.9999999999999993E-3,-3.0000000000000001E-3,null,-4.0000000000000001E-3,-2.1000000000000001E-2,-2.9000000000000001E-2]
["Current accident year catastrophe losses",0.01,8.9999999999999993E-3,3.4000000000000002E-2,-7.0000000000000001E-3,0.02,null,1.7000000000000001E-2,1.7000000000000001E-2,null,1.0999999999999999E-2,1.7999999999999999E-2,1.4999999999999999E-2]
["Loss and LAE ratio",0.66800000000000004,0.64500000000000002,0.67600000000000005,0.67200000000000004,0.65100000000000002,null,0.66300000000000003,0.63400000000000001,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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
[]
["Gross written premiums",353,344,326,332,344,null,1023,923,null,1255,923,579]
["Ceded reinsurance premiums",-66,-65,-50,-53,-59,null,-181,-155,null,-210,-157,-97]
["Net written premiums",287,279,276,279,285,null,842,768,null,1045,766,482]
["Change in unearned premiums",-19,-7,10,1,-16,null,-16,-14,null,-13,-13,2]
["Net earned premiums",268,272,286,280,269,null,826,754,null,1032,753,484]
[]
["Loss and LAE",85,103,118,107,125,null,306,325,null,429,323,199]
["Underwriting expense",132,131,131,119,123,null,394,350,null,469,350,227]
["Underwriting profit",51,38,37,54,21,null,126,79,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",11,19,35,17,39,null,65,64,null,81,64,25]
["Total current accident year catastrophe losses",11,19,35,17,39,null,65,64,null,81,64,25]
[]
["Prior year loss reserve development (favorable) / adverse",-12,-9,-13,-8,-9,null,-34,-3,null,-11,-3,6]
[]
["Combined ratio:"]
["Loss and LAE ratio",0.318,0.38100000000000006,0.41100000000000003,0.38099999999999995,0.46499999999999997,null,0.37100000000000005,0.43099999999999999,null,0.41599999999999998,0.42899999999999999,0.41199999999999998]
["Underwriting expense ratio",0.49299999999999999,0.48,0.45900000000000002,0.42599999999999999,0.45800000000000002,null,0.47699999999999998,0.46400000000000002,null,0.45500000000000002,0.46500000000000002,0.46899999999999997]
["Combined ratio",0.81099999999999994,0.86099999999999999,0.87000000000000011,0.80699999999999994,0.92300000000000004,null,0.84800000000000009,0.89500000000000002,null,0.871,0.89400000000000002,0.88100000000000001]
[]
["Combined ratio excl. catastrophe losses and prior year reserve development",0.81699999999999995,0.82000000000000006,0.79700000000000004,0.77499999999999991,0.81200000000000006,null,0.81099999999999994,0.81400000000000006,null,0.80400000000000005,0.81400000000000006,0.81699999999999995]
[]
["Loss and LAE components:"]
["Current accident year, excluding catastrophe losses",0.32400000000000001,0.34,0.33800000000000002,0.34899999999999998,0.35399999999999998,null,0.33400000000000002,0.35,null,0.34899999999999998,0.34899999999999998,0.34799999999999998]
["Prior accident year loss reserve development",-4.7E-2,-3.2000000000000001E-2,-4.5999999999999999E-2,-2.9000000000000001E-2,-3.3000000000000002E-2,null,-4.2000000000000003E-2,-4.0000000000000001E-3,null,-1.0999999999999999E-2,-4.0000000000000001E-3,1.2E-2]
["Current accident year catastrophe losses",4.1000000000000002E-2,7.2999999999999995E-2,0.11899999999999999,6.0999999999999999E-2,0.14399999999999999,null,7.9000000000000001E-2,8.5000000000000006E-2,null,7.8E-2,8.4000000000000005E-2,5.1999999999999998E-2]
["Loss and LAE ratio",0.318,0.38100000000000006,0.41100000000000003,0.38099999999999995,0.46499999999999997,null,0.37100000000000005,0.43099999999999999,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,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30","2024-06-30"]
["Assets:"]
["Total cash and investments",16761,16049,15994,15852,15741,15261]
["Recoverables from reinsurers",5565,4733,4945,5176,5217,4157]
["Prepaid reinsurance premiums",1443,1256,1105,1013,1346,1143]
["Agents' balances and premiums receivable",2034,1946,1589,1532,1995,1909]
["Deferred policy acquisition costs",349,345,316,320,340,328]
["Assets of managed investment entities",3972,3833,3848,4140,4332,4695]
["Other receivables",2075,877,855,1123,1989,758]
["Other assets",1308,1325,1337,1375,1326,1357]
["Goodwill",327,305,305,305,305,305]
["Total assets",33834,30669,30294,30836,32591,29913]
[]
["Liabilities and Equity:"]
["Unpaid losses and loss adjustment expenses",15079,13834,13970,14179,14206,12607]
["Unearned premiums",4450,4026,3710,3584,4320,3816]
["Payable to reinsurers",1578,1152,1028,1191,1620,1176]
["Liabilities of managed investment entities",3834,3685,3726,3965,4168,4536]
["Long-term debt",1820,1476,1476,1475,1475,1475]
["Other liabilities",2343,1980,1992,1976,2094,1919]
["Total liabilities",29104,26153,25902,26370,27883,25529]
[]
["Shareholders' equity:"]
["Common stock",83,83,84,84,84,84]
["Capital surplus",1421,1414,1409,1411,1400,1392]
["Retained earnings",3299,3151,3078,3211,3360,3239]
["Unrealized gains (losses) - fixed maturities",-43,-101,-141,-202,-100,-290]
["Unrealized gains (losses) - fixed maturity-related cash flow hedges",-3,-5,-7,-10,-7,-20]
["Other comprehensive income (loss), net of tax",-27,-26,-31,-28,-29,-21]
["Total shareholders' equity",4730,4516,4392,4466,4708,4384]
[]
["Total liabilities and equity",33834,30669,30294,30836,32591,29913]

{"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,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30","2024-06-30"]
[]
["Shareholders' equity",4730,4516,4392,4466,4708,4384]
["Accumulated other comprehensive income (loss)",-73,-132,-179,-240,-136,-331]
["Shareholders' equity, excluding AOCI",4803,4648,4571,4706,4844,4715]
["Goodwill",327,305,305,305,305,305]
["Intangibles",192,193,198,203,199,204]
["Tangible shareholders' equity, excluding AOCI",4284,4150,4068,4198,4340,4206]
[]
["Common shares outstanding",83.400999999999996,83.385999999999996,83.668000000000006,83.977999999999994,83.923000000000002,83.897000000000006]
[]
["Book value per share:"]
["Book value per share",56.723948274001515,54.147772287914044,52.503187359563988,53.180594917716547,56.099043170525363,52.25455022229638]
["Book value per share, excluding AOCI",57.589237539118237,55.74077183220205,54.632595496486111,56.028486270213634,57.709576278255071,56.189864119098416]
["Tangible, excluding AOCI",51.376290572055488,49.768546278751835,48.620739111727296,49.979282907428143,51.724071231962633,50.132901057248766]
[]
["Market capitalization"]
[]
["AFG's closing common share price",145.72,126.21,131.34,136.93,134.6,123.02]
[]
["Market capitalization",12153,10524,10989,11499,11296,10321]
[]
["Price / Book value per share, excluding AOCI",2.5303338996460547,2.2642312951807226,2.4040593130605994,2.4439353820771696,2.3323685370865768,2.1893628313328959]

{"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,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30","2024-06-30"]
[]
["AFG senior obligations",1173,823,823,823,823,823]
["Borrowings drawn under credit facility",0,0,0,0,0,0]
["Debt excluding subordinated debt",1173,823,823,823,823,823]
[]
["AFG subordinated debentures",675,675,675,675,675,675]
["Total principal amount of long-term debt",1848,1498,1498,1498,1498,1498]
[]
["Shareholders' equity",4730,4516,4392,4466,4708,4384]
["Accumulated other comprehensive income (loss)",-73,-132,-179,-240,-136,-331]
["Total capital, excluding AOCI",6651,6146,6069,6204,6342,6213]
[]
["Ratio of debt to total capital, excluding AOCI:"]
["Including subordinated debt",0.27785295444294089,0.24373576309794989,0.24682814302191464,0.24145712443584785,0.23620309050772628,0.24110735554482537]
["Excluding subordinated debt",0.17636445647271087,0.13390823299707127,0.13560718405009062,0.13265635074145712,0.12976978871018607,0.13246418799291806]

{"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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
["Property and Casualty Insurance"]
[]
["Paid Losses (GAAP)",936,931,967,1179,897,null,2834,2855,null,4034,2855,1958]
[]
[]
[]
[]
[]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"2024-06-30"]
["GAAP Equity (excluding AOCI)"]
[]
["Property and Casualty Insurance",6173,5935,5853,5962,6150,null,5919]
["Parent and other subsidiaries",-1370,-1287,-1282,-1256,-1306,null,-1204]
["AFG GAAP Equity (excluding AOCI)",4803,4648,4571,4706,4844,null,4715]
[null,""]
["Allowable dividends without regulatory approval"]
[]
["Property and Casualty Insurance",1004,1004,1004,1004,946,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 - September 30, 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",1367,475,0,1842,0.11]
["Fixed maturities - Available for sale",10415,103,0,10518,0.63,""]
["Fixed maturities - Trading",80,0,0,80,0.01]
["Equity securities - Common stocks",384,0,0,384,0.02]
["Equity securities - Perpetual preferred",416,0,0,416,0.02]
["Investments accounted for using the equity method",2381,2,0,2383,0.14000000000000001,""]
["Mortgage loans",975,0,0,975,0.06]
["Real estate and other investments",193,108,-138,163,0.01,""]
["Total cash and investments",16211,688,-138,16761,"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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
["Property and Casualty Insurance:"]
["Gross investment income excluding alternative investments"]
["Fixed maturities",135,140,137,134,134,null,412,398,null,532,398,264]
["Equity securities",6,15,6,9,6,null,27,20,null,29,20,14]
["Other investments (a)",27,23,21,24,25,null,71,63,null,87,63,38]
["Gross investment income excluding alternative investments",168,178,164,167,165,null,510,481,null,648,481,316]
["Gross investment income from alternative investments (b)",43,8,12,33,36,null,63,125,null,158,125,89]
["Total gross investment income",211,186,176,200,201,null,573,606,null,806,606,405]
["Investment expenses",-6,-7,-6,-5,-6,null,-19,-17,null,-22,-17,-11]
["Total net investment income",205,179,170,195,195,null,554,589,null,784,589,394]
[]
["Average cash and investments (c)",16095,15921,15881,15718,15447,null,15988,15389,null,15479,15389,15321]
[]
["Average yield - overall portfolio, net (d)","5.09%","4.50%","4.28%","4.96%","5.05%",null,"4.62%","5.10%",null,"5.06%","5.10%","5.14%"]
["Average yield - fixed maturities before inv expenses (d)",5.1200000000000002E-2,5.2400000000000002E-2,5.1299999999999998E-2,5.0900000000000001E-2,5.0599999999999999E-2,null,5.1700000000000003E-2,5.0099999999999999E-2,null,5.0200000000000002E-2,5.0099999999999999E-2,4.99E-2]
[]
["AFG consolidated net investment income:"]
["Property & Casualty core",205,179,170,195,195,null,554,589,null,784,589,394]
["Parent & other",6,7,5,7,7,null,18,22,null,29,22,15]
["Consolidate CLOs",-6,-2,-2,-8,-2,null,-10,-25,null,-33,-25,-23]
["Total net investment income",205,184,173,194,200,null,562,586,null,780,586,386]
[]
["Average cash and investments (c)",16496,16175,16140,15987,15748,null,16318,15682,null,15767,15682,15620]
[]
["Average yield - overall portfolio, net (d)","4.97%","4.55%","4.29%","4.85%","5.08%",null,"4.59%","4.98%",null,"4.95%","4.98%","4.94%"]
["Average yield - fixed maturities before inv expenses (d)",5.11E-2,5.2400000000000002E-2,5.1299999999999998E-2,5.0999999999999997E-2,5.0799999999999998E-2,null,5.1700000000000003E-2,5.0299999999999997E-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,"Nine Months Ended"]
[null,"9/30/25","2025-06-30","2025-03-31","2024-12-31","2024-09-30",null,"9/30/25","2024-09-30",null,"2024-12-31","2024-09-30","2024-06-30"]
["Property and Casualty Insurance:"]
["Net Investment Income"]
["Fixed maturities MTM through investment income",16,8,-3,12,8,null,21,10,null,22,10,2]
["Equity securities MTM through investment income (a)",-6,4,0,12,20,null,-2,45,null,57,45,25]
["Investments accounted for using the equity method (b)",27,-6,13,1,6,null,34,45,null,46,45,39]
["AFG managed CLOs (eliminated in consolidation)",6,2,2,8,2,null,10,25,null,33,25,23]
["Total Property & Casualty",43,8,12,33,36,null,63,125,null,158,125,89]
[]
["Investments"]
["Fixed maturities MTM through investment income",30,55,50,75,51,null,30,51,null,75,51,32]
["Equity securities MTM through investment income (a)",243,233,232,222,563,null,243,563,null,222,563,544]
["Investments accounted for using the equity method (b)",2381,2338,2324,2275,1909,null,2381,1909,null,2275,1909,1880]
["AFG managed CLOs (eliminated in consolidation)",138,148,122,174,163,null,138,163,null,174,163,158]
["Total Property & Casualty",2792,2774,2728,2746,2686,null,2792,2686,null,2746,2686,2614]
[]
["Annualized Return - Property & Casualty",6.2E-2,1.2E-2,1.7999999999999999E-2,4.9000000000000002E-2,5.3999999999999999E-2,null,0.03,6.5000000000000002E-2,null,6.0999999999999999E-2,6.5000000000000002E-2,7.0000000000000007E-2]
[]
["AFG Consolidated:"]
["Net Investment Income"]
["Fixed maturities MTM through investment income",16,8,-3,12,8,null,21,10,null,22,10,2]
["Equity securities MTM through investment income (a)",-6,4,0,12,20,null,-2,45,null,57,45,25]
["Investments accounted for using the equity method (b)",27,-6,13,1,6,null,34,45,null,46,45,39]
["AFG managed CLOs (eliminated in consolidation)",6,2,2,8,2,null,10,25,null,33,25,23]
["Total AFG Consolidated ",43,8,12,33,36,null,63,125,null,158,125,89]
[null,"","","","","",null,"","",null,"","",""]
["Investments"]
["Fixed maturities MTM through investment income",30,55,50,75,51,null,30,51,null,75,51,32]
["Equity securities MTM through investment income (a)",243,233,232,222,563,null,243,563,null,222,563,544]
["Investments accounted for using the equity method (b)",2383,2341,2326,2277,1911,null,2383,1911,null,2277,1911,1882]
["AFG managed CLOs (eliminated in consolidation)",138,148,122,174,163,null,138,163,null,174,163,158]
["Total AFG Consolidated ",2794,2777,2730,2748,2688,null,2794,2688,null,2748,2688,2616]
[]
["Annualized Return - AFG Consolidated",6.2E-2,1.2E-2,1.7999999999999999E-2,4.9000000000000002E-2,5.3999999999999999E-2,null,0.03,6.5000000000000002E-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":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"]
["September 30, 2025","Book Value (a)","Fair Value","Gain (Loss)","Fair Value","Portfolio"]
["US Government and government agencies",170,170,0,0.02,0.01]
["States, municipalities and political subdivisions",877,853,-24,0.08,0.05]
["Foreign government",314,318,4,0.03,0.02]
["Residential mortgage-backed securities",2387,2311,-76,0.22,0.14000000000000001]
["Collateralized loan obligations",1101,1100,-1,0.1,7.0000000000000007E-2]
["Other asset-backed securities",2420,2403,-17,0.23,0.14000000000000001]
["Corporate and other bonds",3383,3443,60,"32%","21%"]
["Total AFG consolidated",10652,10598,-54,"100%","64%",""]
[null,null,null,null,""]
[]
["Approximate duration - P&C","3.1 years"]
["Approximate duration - P&C including cash","2.7 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]
["Collateralized loan obligations",1239,1237,-2,0.12,0.08]
["Other asset-backed securities",2457,2407,-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":10,"rows_kept":51,"cut":false,"hidden":false,"merged":[]}
["Appendix A"]
["American Financial Group, Inc."]
["Fixed Maturities by Credit Rating & NAIC Designation by Type"]
["9/30/2025"]
["($ 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",2,162,277,2039,1051,789,13,4333,0.41]
["AA",168,653,14,90,46,326,178,1475,0.14000000000000001]
["A",0,28,22,70,3,702,970,1795,0.17]
["BBB",0,8,4,28,0,518,1952,2510,0.24]
["  Subtotal - Investment grade",170,851,317,2227,1100,2335,3113,10113,0.96000000000000008]
[]
["BB",0,0,0,1,0,4,159,164,0.02]
["B",0,0,0,2,0,1,33,36,0]
["CCC, CC, C",0,0,0,26,0,2,1,29,0]
["D",0,0,0,0,0,0,0,0,"0%"]
["  Subtotal - Non-Investment grade",0,0,0,29,0,7,193,229,0.02]
[]
["Not Rated (b)",0,2,1,55,0,61,137,256,0.02]
[]
["Total",170,853,318,2311,1100,2403,3443,10598,"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",170,839,253,2200,1026,1802,1172,7462,0.73]
["      2",0,8,0,31,0,504,1939,2482,"24%"]
["   Subtotal",170,847,253,2231,1026,2306,3111,9944,0.97]
[]
["      3",0,0,0,2,0,5,184,191,0.02]
["      4",0,0,0,0,0,1,48,49,0]
["      5",0,0,0,13,0,2,57,72,0.01]
["      6",0,0,0,1,0,3,1,5,"0%"]
["   Subtotal",0,0,0,16,0,11,290,317,"3%"]
[]
["Total insurance companies",170,847,253,2247,1026,2317,3401,10261,"100%"]
[]
["No NAIC designation (c)",0,0,0,0,0,29,11,40]
["Non-Insurance and Foreign Companies (d)",0,6,65,64,74,57,31,297]
["Total",170,853,318,2311,1100,2403,3443,10598,""]
[]
[" (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, 47% are NAIC 1 and 48% do not have a designation."]
["       For Corp/Oth, 14% are NAIC 1, 22% NAIC 3 and 41% NAIC 5."]
["       For Total, 33% are NAIC 1, 12% NAIC 3, 27% NAIC 5 and 16% 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":10,"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","CLOs","ABS","Corp/Oth","Total","% Total"]
["Investment grade"]
["AAA",0,342,264,1717,1166,856,14,4359,0.42]
["AA",173,469,9,92,66,305,175,1289,0.12]
["A",0,38,5,69,4,649,925,1690,0.16]
["BBB",0,8,6,20,0,519,1990,2543,0.24]
["  Subtotal - Investment grade",173,857,284,1898,1236,2329,3104,9881,0.94000000000000006]
[]
["BB",0,0,0,2,0,7,167,176,0.02]
["B",0,0,0,2,0,2,33,37,0]
["CCC, CC, C",0,0,0,28,0,3,14,45,0.01]
["D",0,0,0,0,0,0,12,12,"0%"]
["  Subtotal - Non-Investment grade",0,0,0,32,0,12,226,270,0.03]
[]
["Not Rated (b)",0,2,0,59,1,66,195,323,0.03]
[]
["Total",173,859,284,1989,1237,2407,3525,10474,"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",173,846,237,1898,1220,1810,1119,7303,0.71]
["      2",0,8,0,20,0,508,1988,2524,"25%"]
["   Subtotal",173,854,237,1918,1220,2318,3107,9827,0.96]
[]
["      3",0,0,0,8,0,7,172,187,0.02]
["      4",0,0,0,0,0,2,59,61,0.01]
["      5",0,0,0,6,0,4,127,137,0.01]
["      6",0,0,0,1,0,2,16,19,"0%"]
["   Subtotal",0,0,0,15,0,15,374,404,"4%"]
[]
["Total insurance companies",173,854,237,1933,1220,2333,3481,10231,"100%"]
[]
["No NAIC designation (c)",0,0,0,0,1,25,8,34]
["Non-Insurance and Foreign Companies (d)",0,5,47,56,16,49,36,209]
["Total",173,859,284,1989,1237,2407,3525,10474,""]
[]
[" (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":[[38,0,38,1],[32,0,32,1],[34,0,34,1],[35,0,35,1],[36,0,36,1],[37,0,37,1],[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]]}
["Appendix C"]
["American Financial Group, Inc."]
["Corporate Securities by Credit Rating & NAIC Designation by Industry"]
["9/30/2025"]
["($ in millions)"]
[]
[]
[null,null,"Fair Value By Industry"]
["Credit Rating (a)",null,"Asset Managers","Banking","Insurance","Technology","Utilities","Other Financials","Autos","Consumer","Healthcare","REITs","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,5,0,48,23,5,32,0,37,15,0,10,0,0,0,3,178,0.05]
["A",null,37,192,154,43,139,63,101,51,36,53,21,16,30,3,31,970,0.28000000000000003]
["BBB",null,796,261,53,161,90,95,66,49,39,60,45,85,45,15,92,1952,"57%"]
["   Subtotal",null,838,453,255,238,234,190,167,137,90,113,76,101,75,18,128,3113,0.9]
[]
["BB",null,34,7,0,4,0,0,18,11,2,6,36,11,1,22,7,159,0.05]
["B",null,4,2,0,0,0,0,0,7,10,0,0,0,4,6,0,33,0.01]
["CCC, CC, C",null,0,0,0,0,0,0,0,0,1,0,0,0,0,0,0,1,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,"0%"]
["   Subtotal",null,38,9,0,4,0,0,18,18,13,6,36,11,5,28,7,193,0.06]
[]
["Not Rated (b)",null,0,0,7,1,0,29,1,18,41,5,11,0,2,20,2,137,"4%"]
[]
["Total",null,876,462,262,243,234,219,186,173,144,124,123,112,82,66,137,3443,"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","Autos","Consumer","Healthcare","REITs","Retailers","Basic Industry","Capital Goods","Media","Other","Total","% Total"]
["    1",null,42,189,200,76,144,108,101,91,51,53,31,16,33,3,34,1172,0.34]
["    2",null,792,258,52,157,88,95,66,55,38,60,44,82,44,14,94,1939,"57%"]
["   Subtotal",null,834,447,252,233,232,203,167,146,89,113,75,98,77,17,128,3111,0.91]
[]
["    3",null,34,7,0,4,0,0,17,18,26,6,36,6,1,22,7,184,0.06]
["    4",null,4,2,0,0,0,0,0,7,9,0,12,4,4,6,0,48,0.01]
["    5",null,0,0,0,1,0,10,0,2,19,5,0,0,0,20,0,57,0.02]
["    6",null,0,0,0,0,0,1,0,0,0,0,0,0,0,0,0,1,"0%"]
["   Subtotal",null,38,9,0,5,0,11,17,27,54,11,48,10,5,48,7,290,0.09]
[]
["Total insurance companies",null,872,456,252,238,232,214,184,173,143,124,123,108,82,65,135,3401,"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",4,6,3,5,2,1,2,0,1,0,0,4,0,1,2,31]
["Total",null,876,462,262,243,234,219,186,173,144,124,123,112,82,66,137,3443]
[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) 14% of not rated securities are NAIC 1, 22% NAIC 3 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":19,"rows_kept":49,"cut":false,"hidden":false,"merged":[[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],[8,0,8,1],[9,0,9,1],[14,0,14,1],[15,0,15,1],[20,0,20,1]]}
["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":[[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],[7,0,7,1],[8,0,8,1],[13,0,13,1],[14,0,14,1],[19,0,19,1]]}
["Appendix E"]
["American Financial Group, Inc."]
["Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type"]
["9/30/2025"]
["($ in millions)"]
[]
[null,null,"Fair Value By Collateral Type"]
["Credit Rating (a)",null,"Whole Business","TruPS","Triple Net Lease","Aircraft","Railcar","Commercial Real Estate","Secured Financing","Single Family Rental","Auto","Other","Total","% Total"]
["  Investment Grade"]
["AAA",null,0,119,213,16,0,149,0,95,69,128,789,0.33]
["AA",null,76,138,14,17,29,0,20,0,0,32,326,0.14000000000000001]
["A",null,10,3,15,152,169,0,66,0,0,287,702,0.28999999999999998]
["BBB",null,436,0,0,16,6,0,2,0,0,58,518,"21%"]
["   Subtotal",null,522,260,242,201,204,149,88,95,69,505,2335,0.97]
[]
["BB",null,0,0,0,2,0,0,1,0,0,1,4,0]
["B",null,0,0,0,1,0,0,0,0,0,0,1,0]
["CCC, CC, C",null,0,0,0,2,0,0,0,0,0,0,2,0]
["D",null,0,0,0,0,0,0,0,0,0,0,0,"0%"]
["   Subtotal",null,0,0,0,5,0,0,1,0,0,1,7,0]
[]
["Not Rated (b)",null,0,0,0,4,0,0,29,0,0,28,61,"3%"]
[]
["Total",null,522,260,242,210,204,149,118,95,69,534,2403,"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","TruPS","Triple Net Lease","Aircraft","Railcar","Commercial Real Estate","Secured Financing","Single Family Rental","Auto","Other","Total","% Total"]
["    1",null,86,258,237,184,183,139,114,92,67,442,1802,0.78]
["    2",null,426,0,0,15,6,0,1,0,0,56,504,"22%"]
["   Subtotal",null,512,258,237,199,189,139,115,92,67,498,2306,1]
[]
["    3",null,0,0,0,1,0,0,2,0,0,2,5,0]
["    4",null,0,0,0,1,0,0,0,0,0,0,1,0]
["    5",null,0,0,0,1,0,0,0,0,0,1,2,0]
["    6",null,0,0,0,3,0,0,0,0,0,0,3,"0%"]
["   Subtotal",null,0,0,0,6,0,0,2,0,0,3,11,0]
[]
["Total insurance companies",null,512,258,237,205,189,139,117,92,67,501,2317,"100%"]
[]
["No NAIC designation",null,0,0,0,1,0,0,1,0,0,27,29]
["Non-Insurance and Foreign Companies",null,10,2,5,4,15,10,0,3,2,6,57]
["Total",null,522,260,242,210,204,149,118,95,69,534,2403,""]
[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) 47% of not rated securities are NAIC 1 and 48% 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":[[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],[7,0,7,1],[8,0,8,1],[13,0,13,1],[14,0,14,1],[19,0,19,1]]}
["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,0,258,191,46,0,7,17,125,69,143,856,0.36]
["AA",null,75,0,14,130,25,4,25,0,0,32,305,0.12]
["A",null,10,0,17,18,156,118,65,0,0,265,649,0.27]
["BBB",null,427,0,0,0,6,21,1,0,0,64,519,"22%"]
["   Subtotal",null,512,258,222,194,187,150,108,125,69,504,2329,0.97]
[]
["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,512,258,222,194,187,162,142,125,69,536,2407,"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,85,240,219,191,179,127,139,121,67,442,1810,0.77]
["    2",null,416,0,0,0,6,21,1,0,0,64,508,"22%"]
["   Subtotal",null,501,240,219,191,185,148,140,121,67,506,2318,0.99]
[]
["    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,501,240,219,191,185,159,142,121,67,508,2333,"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,512,258,222,194,187,162,142,125,69,536,2407,""]
[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"]
["9/30/2025"]
["($ 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",1246,0.88,0.92,0.96]
[" Fund Investments",102,7.0000000000000007E-2,"-","-"]
[" QOZ Fund - Development",27,0.02,"-","-"]
[" Office",17,0.01,0.91,1]
[" Marina",16,0.01,"-","-"]
[" Hospitality",12,0.01,"-","-"]
[" Land Development",2,0,"-","-"]
["Total ",1422,"100%"]
[]
[]
["Real Estate"]
[null,null,"% of "]
["Property Type","Book Value","Book Value","Debt"]
[]
["Resort & Marina",53,0.52,0]
["Marina",35,0.35,0]
["Office Building",12,0.11,0]
["Land",2,"2%",0]
["Total ",102,"100%",0]
[]
[]
["Mortgage Loans"]
[null,null,"% of ","Loan To "]
["Property Type","Book Value","Book Value","Value"]
[]
["Multifamily",688,0.7056410256410256,0.66]
["Hospitality",186,0.19076923076923077,0.45]
["Marina",52,5.3333333333333337E-2,0.52]
["Office",49,"5%","98%"]
["Total ",975,"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 9/30/2025"]
["(c) Collections for July-September"]

{"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 12/31/2024"]
["(c) Collections for October - December"]