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Item 3 — Quantitative and Qualitative Disclosures About Market Risk
American Financial Group, Inc. · 10-Q · Q2 FY2026 · Period ended Jun 30, 2026
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As of June 30, 2026, there were no material changes to the information provided in Item 7A — Quantitative and Qualitative Disclosures about Market Risk of AFG’s 2025 Form 10-K.
Consistent with the discussion in Item 2 — Management’s Discussion and Analysis — “Investments,” the following table demonstrates the sensitivity of the fair value of AFG’s fixed maturity portfolio to reasonably likely changes in interest rates by illustrating the estimated effect on AFG’s fixed maturity portfolio that an immediate increase of 100 basis points in the interest rate yield curve would have had at June 30, 2026 (based on the duration of the portfolio, dollars in millions). Effects of increases or decreases from the 100 basis points illustrated would be approximately proportional.
Fair value of fixed maturity portfolio $ 11,338
Percentage impact on fair value of 100 bps increase in interest rates (3.5 %)
Pretax impact on fair value of fixed maturity portfolio $ (397)