v3.26.1
Managed Investment Entities (Tables)
6 Months Ended
Jun. 30, 2026
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,
2026202520262025
Balance at beginning of period$133 $122 $143 $175 
Purchases15 40 26 75 
Sales(3)(9)(3)(88)
Distributions(5)(7)(13)(18)
CLO earnings (losses) attributable to AFG
(4)
Balance at end of period
$149 $148 $149 $148 
Selected financial information related to the CLOs is shown below (in millions):
Three months ended June 30,Six months ended June 30,
2026202520262025
Gains (losses) on change in fair value of assets/liabilities (*):
Assets$11 $12 $(63)$(45)
Liabilities(10)(16)44 38 
Management fees paid to AFG
CLO earnings (losses) attributable to AFG
(4)
(*)Included in revenues in AFG’s Statement of Earnings.