v3.25.2
Managed Investment Entities (Tables)
6 Months Ended
Jun. 30, 2025
Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]  
Selected financial information related to collateralized loan obligations
The following table shows a progression of the fair value of AFG's investment in CLO tranches and temporary warehousing entities (in millions):
Three months ended June 30,Six months ended June 30,
2025202420252024
Balance at beginning of period$122 $201 $175 $177 
Purchases40 45 75 84 
Sales(9)(81)(88)(100)
Distributions(7)(15)(18)(25)
CLO earnings attributable to AFG
23 
Balance at end of period
$148 $159 $148 $159 
Selected financial information related to the CLOs is shown below (in millions):
Three months ended June 30,Six months ended June 30,
2025202420252024
Gains (losses) on change in fair value of assets/liabilities (*):
Assets$12 $(15)$(45)$(3)
Liabilities(16)19 38 17 
Management fees paid to AFG
CLO earnings attributable to AFG
23 
(*)Included in revenues in AFG’s Statement of Earnings.