AMERICAN FINANCIAL GROUP INC

American Financial Group, Inc. (AFG) is an insurance holding company that operates through Great American Insurance Group. AFG focuses on property and casualty insurance, specifically specialized commercial products for businesses. The Great American Insurance Group has been in business for over 150 years. AFG's investment portfolio is managed by an in-house team of investment professionals. Management believes that over 55% of the 2025 gross written premiums in AFG's Specialty property and casualty group are generated by businesses that rank in the "top 10" among competitors based on gross written premiums. AFG's business model grants each of its businesses autonomy in underwriting, claims, and policy servicing decisions. This approach supports agility, innovative product design, unique applications of pricing segmentation, and the development of distribution strategies and market relationships. Over the past 25 plus years, AFG has refined its focus on its core businesses through organic growth, selected acquisitions, start-ups, and dispositions.