EX-99.2

附件99.2美國金融集團投資者補充資料2022年第三季度美國金融集團公司公司總部大美國保險集團大樓301E Fourth Street辛辛那提，郵編：45202 513 579 6739

American Financial Group, Inc. Table of Contents - Investor Supplement - Third Quarter 2022 3 Section Page Table of Contents - Investor Supplement - Third Quarter 2022..................................................................................................................... 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 Other Specialty - Underwriting Results (GAAP)............................................................................................................................................. 11 Annuity Segment Discontinued Annuity Operations.................................................................................................................................................................. 12 Consolidated Balance Sheet / Book Value / Debt Consolidated Balance Sheet......................................................................................................................................................................... 13 Book Value Per Share and Price / Book Summary....................................................................................................................................... 14 Capitalization................................................................................................................................................................................................. 15 Additional Supplemental Information............................................................................................................................................................. 16 Consolidated Investment Supplement Total Cash and Investments.......................................................................................................................................................................... 17 Net Investment Income From Continuing Operations.................................................................................................................................... 18 Alternative Investments - Continuing Operations.......................................................................................................................................... 19 Fixed Maturities - By Security Type - AFG Consolidated............................................................................................................................... 20 Appendix A. Fixed Maturities by Credit Rating & NAIC Designation by Type 9/30/2022.............................................................................................. 21 B. Fixed Maturities by Credit Rating & NAIC Designation by Type 12/31/2021............................................................................................ 22 C. Corporate Securities by Credit Rating & NAIC Designation by Industry 9/30/2022................................................................................. 23 D. Corporate Securities by Credit Rating & NAIC Designation by Industry 12/31/2021............................................................................... 24 E. Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 9/30/2022................................................................ 25 F. Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 12/31/2021.............................................................. 26 G. Real Estate-Related Investments 9/30/2022........................................................................................................................................... 27 H. Real Estate-Related Investments 12/31/2021.......................................................................................................................................... 28 Page 2

美國金融集團(American Financial Group，Inc.)財務亮點(單位：百萬每股信息除外)截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21重點淨收益$165$167$290$355$622$1,640持續運營淨收益165 167 290 355 219 622 726核心淨營業淨收益192 243 303 351 231 738 642總資產29,532 28,084 28,762 28,931 29,942 29,532 29,942調整後股東權益(A)4,515,401 4,948 4,876 5,015 5,062溢價1,984 1,516 1,368 1,270 1,729 4,868 4,303每股攤薄收益$1.93$1.96$3.40$4.18$2.56$7.29$19.11持續運營的攤薄每股收益1.93 1.96 3.40 4.18 2.56 7.29 8.45每股核心運營淨收益2.24 2.85 3.56 4.12 2.71 8.65 7.48調整後每股賬面價值(A)53.03 51.68 58。每股普通股股息0.5600 8.5600 2.5600 6.5600 6.5000 11.6800 21.5000財務比率年化股本回報率(B)14.7% 14.3%23.5%28.5%16.6%17.6%40.3%年化核心營運股本回報率(B)17.1%20.7%24.6%28.1%17.6%20.9%15.8%財產和意外傷害綜合比率-專業：虧損與資產負債率66.4%55.4%53.1%56.5%62.4%591%59.0% 承保費用比率24.7%30.4%30.9%24.2%26.6%28.3%29.4%合併比率-專業91.1%85.8%84.0%80.7%89.0%87.4%88.4%(A)不包括固定期限投資相關的未實現收益(虧損)。對公認會計準則計量的對賬見第14頁。(B)不包括累積的其他全面收入。第3頁

美國金融集團，公司收益摘要(以百萬美元為單位)截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21財險承保利潤$155$196$207$279$168$558$454淨投資收益145 156 223 196 165 524 467其他費用(7) (11)(8)10(4)(26)(16)財產和意外險營業收益289 345 422485 329 1,056 905房地產實體和其他從年金獲得的利息支出---50母公司控股公司利息支出(19)(23)(23)(23)(24)(65) (71)其他支出(14)(26)(21)(24)(21)(61)(90)税前核心運營收益244 308 378 438 284 930 794所得税支出65 52 75 87 53 192核心運營淨收益192 243 303 351 231 738 642非核心項目，税後淨額：證券已實現收益(虧損)(28)(73)(12)4(12)(113)83 Neon退出項目---3其他非核心項目(3)1(1)--(3)(2)持續經營淨收益$167 165$290$355$219$622$726$非持續年金業務 ---914淨收益$167 165$290$355$219$622$1,640$第4頁

美國金融集團公司每股收益摘要(單位：百萬，除每股信息外)截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21核心淨營業收益$243 192$303$351$231$738$642$持續運營淨收益$167$290 $355$219$622$726$淨收益$167$290$355$219$622$1,640$平均稀釋後股票數量-核心85.365 85.339 85.240 85.162 85.171 85.315 85.785攤薄股份平均數量-淨85.365 85.339 85.240 85.162 85.171 85.315 85.785攤薄每股收益：每股核心淨營業收益$2.24$2.85$3.56$4.12$2.71$8.65$7.48證券已實現收益(虧損)(0.32)(0.86)(0.14)0.06(0.15)(1.32)0.95 Neon退出行---0.04 其他非核心項目(0.03)0.01(0.02)--(0.04)(0.02)稀釋後每股收益，持續運營$1.96 1.93$3.40$4.18$2.56$7.29$8.45$非持續年金運營---10.66稀釋後每股收益$1.96 1.93$ 3.40$4.18$2.56$7.29$19.11$第5頁

美國金融集團，財產和意外傷害保險公司-摘要承保業績(以百萬美元為單位)截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21財產和運輸$39$39$62$116$45$140$163特殊意外傷害118 130 124 140 110 372 237特殊財務15 37 29 24 26 81 72其他特殊傷害(9)(14)(7)1(12)(30)(16)承保利潤-專業158 197 208 281 169 563 456其他核心費用，包括在損失和LAE(1)(3)(1)(2)(1)(5)(2)承保利潤- 財產和意外傷害保險$196 155$207$279$168$558$454$包括在以上結果中：本事故年份新冠肺炎相關損失$--$-$2$3$-$14$本事故年巨災損失：巨災恢復保費$18$-$-$--$18$12巨災損失22 33 9 25 31 64 61當前事故年巨災損失總額$22 51$9$25$31$82$73$上一年損失準備金髮展(有利)/不利$(85)(53)$(88)$(71)$(82)$ (226)$(208)$綜合比率：財產與運輸95.4%92.4%85.8%80.5%93.5%92.2%89.6%特殊傷亡82.6%80.1%80.6%78.0%82.0%811.1%86.6%專業財務91.3%78.4%82.0%85.5%84.2%83.9%84.9%其他專業122.7% 114.6%112.9%98.0%122.5%116.9%110.2%合併比率-專業91.1%85.8%84.0%80.7%89.0%87.4%88.4%其他核心費用0.1%0.2%0.1%0.1%0.0%0.1%0.0%合併比率91.2%86.0%84.1%80.8%89.0%87.5%88.4%P&C合併比率不包括新冠肺炎相關虧損，巨災損失和上一年損失準備金髮展91.7%90.5%90.1%83.8%92.2%90.9%91.6%損失和LAE組成部分--本事故年度財產和意外傷害保險, 不包括新冠肺炎相關損失和巨災損失67.0%60.1%59.2%59.6%65.6%62.6%新冠肺炎相關損失0.0%0.0%0.0%0.2%0.1%0.0%0.3%本事故年巨災損失2.5%1.6%0.7%1.8%2.1%1.7%1.8%之前事故年損失準備金髮展(3.0%) (6.1%)(6.7%)(5.0%)(5.4%)(5.1%)(5.1%)(5.3%)損失和LAE比率66.5%55.6%53.2%56.6%62.4%59.2%59.0%第6頁

截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21毛保費$3,153$2,123$1,936$1,737$2,656$7,212$6,209放棄再保險費(607)(1,169)(568)(467)(927) (2,344)(1，淨保費1,984 1,5161,368 1,270 1,729 4,868 4,303未賺取保費變動(123)(217)(66)182(200)(406)(351)淨賺得保費1,767 1,393 1,3021,4521,529 4,462 3,952虧損1,173 773 692 820 953 2,638 2,333承保開支423 436 402 351 407,261 1，163承保利潤$197 158$208$281$169$563$456$以上結果包括：本事故年新冠肺炎相關虧損$--$-$2$3$-$14$本事故年災難損失：巨災恢復保費$18$-$-$-$18$12災難損失22 33 9 25 31 64 61本年事故年巨災損失總額$22 51$9$25$31$82$73$上一年損失準備金髮展 (有利)/不利$(86)(56)$(89)$(73)$(83)$(231)$(210)$合併比率：虧損與資產負債比率66.4%55.4%53.1%56.5%62.4%59.1%59.0%承保費用比率24.7%30.4%30.9%24.2%26.6%28.3%29.4%合併比率91.1%85.8% 84.0%80.7%89.0%87.4%88.4%專業合併比率除外。新冠肺炎相關損失、巨災損失和上年損失準備金髮展91.7%90.5%90.1%83.7%92.2%90.9%91.6%損失和LAE組成部分：當前事故年份, 不包括新冠肺炎相關損失和巨災損失67.0%60.1%59.2%59.5%65.6%62.6%62.2%新冠肺炎相關損失0.0%0.0%0.0%0.2%0.1%0.0%0.3%當前事故年巨災損失2.5%1.6%0.7%1.8%2.1%1.7%1.8%以前事故年損失準備金(3.1%)(6.3%)(6.8%)(5.0%)(5.4%)(5.2%)(5.3%)損失和LAE比率66.4%55.4%53.1%56.5%62.4%59.1%59.0%第7頁

承保業績(GAAP)(百萬美元)截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21毛保費$1,737$962$760$558$1,334$3,459$2,705放棄的再保險費(330)(778) (259)(141)(561)(1，淨保費959 632 501 417 773 2,092 1,740未賺取保費變動(127)(102)(58)180(73)(287)(193)淨賺得保費857 505 443 597 700 1,805 1,547虧損及LAE 663 327 256 394 5161,2461000 承保費用139 155 125 87 139 419 384承保利潤$39 39$62$116$45$140$163$以上結果包括：本事故年新冠肺炎相關損失$--$-$-$-$-$本事故年巨災損失：巨災恢復保費$4$-$-$-$-$4$9巨災損失19 9 6 15 14 34本年度合計意外年巨災損失$19 13$6$15$14$38$43$上一年損失準備金髮展(有利)/不利因素$(30)(15) $(34)$(2)$(18)$(79)$(101)$合併比率：虧損與資產負債比率77.3%64.7%57.7%66.0%73.7%69.0%64.7%承保費用比率18.1%27.7%28.1%14.5%19.8%23.2%24.9%合併比率95.4%92.4%85.8%80.5%93.5%92.2%89.6%組合比率(不包括新冠肺炎相關損失、巨災損失和上年損失準備金髮展95.8%94.6%92.1%78.4%93.9%94.6%93.4%損失和LAE組成部分：當前事故年，不包括新冠肺炎相關和巨災損失77.7%66.9% 64.0%63.9%74.1%71.4%68.5%新冠肺炎相關損失0.0%0.0%0.0%當年巨災損失1.4%3.8%1.5%2.5%2.1%2.0%2.7%之前事故年損失準備金髮展(1.8%)(6.0%)(7.8%)(0.4%)(2.5%) (4.4%)(6.5%)損失和LAE比率77.3%64.7%57.7%66.0%73.7%69.0%64.7%第8頁

美國金融集團，截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21毛保費$1,184$948$976$968$1,121$3,108$2,922(302)(407)(326)(340)(389) (1,035)(1,010)淨承保保費777 646 650 628 732 2,073 1,912變化在未賺取保費11(100)(11)8(119)(100)(140)淨賺取保費677 657 639 636 613 1,973 1,772虧損和LAE 374 354 344 340 335 1,072 1,059承保費用 173 185 171 156 168 529 476承保利潤$130$118$140$110$372$237$以上結果包括：本事故年新冠肺炎相關虧損$--$1$1-$8$本事故年巨災損失：巨災恢復保費$1$-$-$-$1$1巨災損失-2 1 3 3 3 6當前事故年巨災損失總額$-3$1$3$3$4$7$前一年損失準備金髮展(有利)/不利$(49)(42)$(49)$(55)$(56)$ (140)$(85)$綜合比率：虧損與資產負債比率55.3%53.9%53.8%53.5%54.6%54.3%59.7%承保費用比率27.3%26.2%26.8%24.5%27.4%26.8%26.9%合併比率82.6%80.1%80.6%78.0%82.0%81.1%86.6%合併比率除外。新冠肺炎相關損失、巨災損失和上年損失準備金髮展88.5%87.5%88.1%85.8%90.6%88.1%90.6%損失和LAE組成部分：當前事故年，不包括新冠肺炎相關損失和巨災損失61.2%61.3%61.3%61.3%63.2% 61.3%63.7%新冠肺炎相關損失0.0%0.0%0.0%0.2%0.1%0.0%0.4%當前事故年巨災損失0.4%0.1%0.1%0.6%0.4%0.1%0.4%以前事故年損失準備金髮展(6.3%)(7.5%)(7.6%)(8.6%)(9.1%)(7.1%)(4.8%)損失和LAE比率55.3%53.9%53.8%53.5%54.6%54.3%59.7%第9頁

美國金融集團，公司專業財務-承保業績(以百萬美元為單位)截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21毛保費$232$213$200$211$201$645$582(56)(36)(41)(38)(36)(133)(133)(97)淨承保保費176 177 159 173 165 512 485變化在未賺取保費(5)(6)4(8)(2)(7)(8)(8)淨賺取保費171 163 165 163 505 477虧損及LAE 80 44 48 52 56 172 161承保費用90 76 86 89 81 252 244承保利潤$37 15$29$24$26$81$72$以上結果包括：本意外年度新冠肺炎相關虧損$--$-$1$2$-$6$本事故年度巨災損失：巨災恢復保費$13$-$-$-$-$13$2 巨災損失3 21 2 6 14 26 20當前事故年巨災損失總額$3 34$2$6$14$39$22$上一年損失準備金髮展(有利)/不利$(15)(11)$(13)$(18)$(39)$(38)$綜合比率：損失和LAE比率47.2%25.7%29.4%31.7%34.2%34.1%33.7%承保費用比率44。1%52.7%52.6%53.8%50.0%49.8%51.2%合併比率91.3%78.4%82.0%85.5%84.2%83.9%84.9%新冠肺炎相關損失、巨災損失和上一年損失準備金髮展82.4%85.7%88.9%89.3%86.3%85.7%87.4%損失和LAE組件：當前事故年，不包括新冠肺炎相關損失和巨災損失38.3%33.0%36.3%35.5%36.3%35.9%36.2%新冠肺炎相關損失0.0%0.0% 0.0%0.7%0.9%0.0%1.2%當前事故年巨災損失15.2%1.5%1.2%3.7%8.2%6.0%4.3%以前事故年損失準備金髮展(6.3%)(8.8%)(8.1%)(8.2%)(11.2%)(7.8%)(8.0%)損失和LAE比率47.2%25.7%29.4%31.7%34.2% 34.1%33.7%第10頁

美國金融集團，截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/22 9/30/21毛保費$-$-$-$-$-$-再保險費61 72 58 52 59 191 166淨保費72 61 58 52 59 191 166未賺取保費變化(1)(10)(1)2(6)(12)(10)淨賺取保費62 60 57 54 53 179 156虧損及LAE 56 48 44 34 46 148 113承保費用21 20 20 19 19 61 59承保利潤(虧損)$(9)(14)$(7)$1$(12)$ (30)$(16)$以上結果包括：當年新冠肺炎相關虧損$--$-$-$-$-$-本事故年巨災損失：巨災恢復保費$-$-$-$-$-$-巨災損失-1-1-1 1 當前事故年巨災損失總額$-1$-$1$1$1$前一年損失準備金髮展(有利)/不利$8 12$7$(3)$9$27$14$綜合比率：損失與資產負債比率89.3%79.6%77.1%61.7%87.8%82.2%72.7% 承保費用比率33.4%35.0%35.8%36.3%34。7%34.7%37.5%合併比率122.7%114.6%112.9%98.0%122.5%116.9%110.2%合併比率除外。新冠肺炎相關損失、巨災損失和上年損失準備金髮展100.7% 101.5%99.9%100.4%105.4%100.8%100.9%第11頁

美國金融集團終止年金業務(以百萬美元計)截至3個月(A)截至9/30/22 6/30/22 3/31/22 12/31 21 9/30/21 9/30/22 9/30/21歷史上報告為核心運營的税前年金業務(A)$-$-$-$-$-$-$295公平價值的影響，再保險會計& 解鎖---(33)年金分項的已實現收益(虧損)---112流出壽命和長期護理---出售給海量互助的業務的税前收益$-$-$-$-$---(50)非持續業務的税前結果，不包括非連續性業務的銷售收益$-$-$-$-$-$-$324税---(66)非連續性業務的淨收益，不包括非連續性業務的銷售收益$-$-$-$-$-$-$258---656非連續性業務的淨收益(虧損)$--$-$-$-$914$(A)AFG於2021年5月28日完成了其年金業務的出售。截至21年9月30日的9個月的金額僅包括截至銷售日期的收益。第12頁

American Financial Group, Inc. Consolidated Balance Sheet ($ in millions) 9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 6/30/21 Assets: Total cash and investments $ 14,322 $ 14,268 $ 15,601 $ 15,745 $ 16,387 $ 16,125 Recoverables from reinsurers 4,108 3,567 3,478 3,519 3,523 3,330 Prepaid reinsurance premiums 1,180 1,006 933 834 1,028 865 Agents' balances and premiums receivable 1,698 1,623 1,391 1,265 1,492 1,423 Deferred policy acquisition costs 292 293 271 267 262 258 Assets of managed investment entities 5,099 5,218 5,231 5,296 5,130 5,086 Other receivables 1,328 740 645 857 1,097 682 Other assets 1,259 1,123 966 902 847 835 Goodwill 246 246 246 246 176 176 Total assets $ 28,084 29,532 $ 28,762 $ 28,931 $ 29,942 $ 28,780 $ Liabilities and Equity: Unpaid losses and loss adjustment expenses $ 12,067 $ 11,201 $ 10,986 $ 11,074 $ 10,991 $ 10,498 Unearned premiums 3,785 3,397 3,206 3,041 3,415 3,054 Payable to reinsurers 1,366 971 910 920 1,146 829 Liabilities of managed investment entities 5,002 5,133 5,112 5,220 5,034 5,029 Long-term debt 1,533 1,542 1,917 1,964 1,964 1,963 Other liabilities 1,773 1,847 1,796 1,700 2,152 1,806 Total liabilities $ 25,600 $ 24,017 $ 23,927 $ 23,919 $ 24,702 $ 23,179 Shareholders' equity: Common stock $ 85 $ 85 $ 85 $ 85 $ 85 $ 85 Capital surplus 1,358 1,351 1,340 1,330 1,315 1,303 Retained earnings 3,091 2,979 3,541 3,478 3,680 4,023 Unrealized gains (losses) - fixed maturities (554) (326) (109) 136 178 205 Unrealized losses - fixed maturity-related cash flow hedges (29) (8) (4) - - - Other comprehensive income, net of tax (14) (19) (18) (17) (18) (15) Total shareholders' equity 4,067 3,932 4,835 5,012 5,240 5,601 Total liabilities and equity $ 28,084 29,532 $ 28,762 $ 28,931 $ 29,942 $ 28,780 $ Page 13

美國金融集團，Inc.每股賬面價值和每股賬面價格/賬面價格摘要(單位：百萬，9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 6/30/21股東權益$3,932$4,067$4,835$5,012$5,240$5,601與固定到期日有關的未實現(收益)虧損334 583 113(136)(178) (205)調整後股東權益4,515 4,401 4,948 4,876 5,062 5,396商譽(246)(246)(176)(111)(101)(104無形資產$4,054 4,158$4,598$4,524$4,857$5,190$有形調整後股東權益已發行普通股85.141 85.154 85.103 84.921 84.795 84.714每股賬面價值：每股賬面價值$46.18$47.76$56.81$59.02$61.80$66.12調整後(A)53.03 51.68 58.14 57.42 59.70 63.70調整後(B)48.84 47.60 54.02 53.26 57.28 61.27 AFG的收盤價普通股價格$122.93$138.81$145.62$137.32$125.83$124.72市值$10,466$11,820$12,393$11,661$10,670$10,566價格/調整後賬麪價值比率2.32 2.69 2.50 2.39 2.11 1.96(A)不包括與固定期限投資有關的未實現收益(虧損)。(B)不包括與固定期限投資、商譽和無形資產有關的未實現收益(損失)。第14頁

美國金融集團，公司資本化(以百萬美元為單位)9/30/22 3/31/22 12/31/21 9/30/21 6/30/21 AFG優先債務$884$893$1,270$1,318$1,318$1,318---不包括次級債務的信貸安排債務項下提取的借款$884$893$1,270$1,318$1,318$1,318 675 675 675 675 675 AFG次級債券長期債務本金總額$1,559$1,568$1,945$1,993$1,993美元股東權益3,932 4,067 4,835 5,012 5,240 5,601減少：334 583 113(136)(178)(205)與固定期限投資有關的未實現(收益)虧損$5,969 6,074$6,893$6,869$7,055$7,389美元債務與調整後總資本的比率：包括次級債務25.7%26.3%28.2%29.0%28.2%27.0%不包括次級債務14.6% 15.0%18.4%19.2%18.7%17.8%第15頁

美國金融集團，截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21財產和意外保險$678 776$714$758$678$2,168$2,019$已支付損失(GAAP)9/30/22 6/30/22 3/31/22 12/31/21 9/30/21財產和意外保險 6/30/21$5,527$5,399$5,375$5,228$4,934$4,779(984)(993)(409)(335)146 632母公司和其他子公司$4,415 4,534$4,966$4,893$5,080$5,411$AFG GAAP Equity (不包括AOCI)未經監管部門批准的允許股息財產和意外傷害保險$843$843$843$416$416第16頁

美國金融集團，Inc.總現金和投資($in 百萬)賬面價值-9月30日，2022年財產和意外傷害母公司和合並總額AFG投資保險其他CLO合併投資組合現金和投資總額：現金和現金等價物$530$264$-$7946%固定到期日-可供出售的固定到期日9,574 460-10,034 70%交易30--300%權益證券-普通股521 9-530 4%權益證券-永久優先股466-4663%使用權益法計算的投資 1,661-1,661 11%抵押貸款676-676 5%房地產和其他投資92 136(97)131 1%現金和投資總額$825 13,594$(97)$14,322$100%賬面價值-12月31日2021財產和意外傷害母公司和合併AFG投資保險其他CLO綜合投資組合現金和投資總額：現金和現金等價物$1,529$602$-$2,131 13%固定到期日-可供出售9,163 1,194-10,357 66%固定到期日-交易28--28 0%權益證券-普通股500 86-586 4%權益證券-永久優先股456--4563%使用權益法計算的投資1,517--1,517 10%抵押貸款520-520 3%房地產和其他投資103123(76)150 1%現金及投資總額$1,985 13,836$(76)$15,745$100%第17頁

美國金融集團，公司持續經營的淨投資收入(以百萬美元為單位)截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21財險公司：總投資收益固定期限-可供出售$93$81$76$68$70$250$ 212固定期限-交易-1-1 1 1股權證券-股息10 7 7 8 6 24 20股權證券-MTM(7)(8 14 6(1)34被投資人的股權37 76 133 99 73 246 173 AFG管理的CLO 4(12)(2)35 5(10)17其他投資(A)9 12 5 8 8 26 18總投資收益149 160 227 200 169 536 475投資支出(4)(4)(4)(4)(4)(12)(8)投資淨收益總額156 145$223$196$165$524$467$平均現金和投資(B)$13,983 14,105$13,858$13,552$13,194$13,981$12,763$4.11%4.46%6.44%5.79%5.00%5.00%4.88%平均收益率-整體投資組合(C)3.73%3.33%3.20%3.04%3.11%3.43%3.16%平均收益率-固定到期日(C)AFG綜合淨投資收益：房地產和意外傷害核心$145$156$223$196$165$524$467---49其他投資(D)---2母公司及其他10-5 16 9 15 20合併CLO 12(4)2(3)(5)10(17)總投資淨收入$168 151$ 230$209$169$549$521$(A)包括按揭貸款收入，房地產、短期投資和現金等價物。(B)平均現金和投資是指季度期初和期末餘額的平均值，或五個季度餘額的平均值。(C)平均收益率的計算方法是將該季度的投資收入除以該季度的平均餘額。(D)AFG從出售年金業務中保留的與房地產有關的資產的投資收入。第18頁

美國金融集團，另類投資-持續經營(以百萬美元為單位)截至9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 9/30/22 9/30/21財產和意外保險公司：淨投資收入(A)$(5)$(2)$8$14 $6$1$34投資採用權益法(B)37 76 133 99 73 246 173 AFG管理的CLO(在合併中被剔除)(12)4(2)3 5(10)17財產及意外傷害保險總額$62 36$139$116$84$237$224$投資權益證券投資收益(A)$289$276$261$234$195$289$195投資採用權益法(B)1，6611,626 1,6191,5171,4071,6611,407 AFG管理的CLO(在合併中被取消)85 97 119 76 96 97 96財產和意外傷害合計$1,987 2,047$1,999$1,827$1,698$2,047$1，698美元年化回報-財產和意外傷害7.1%12.4%29.1%26.3%20.3%16.1%24.4%持續經營：淨投資收益權益證券MTM通過投資收益(A)$(5)$(2)$8$14$6$1$34投資使用權益法核算(B)(c 37 76 133 99 73 246 222 AFG管理的CLO(合併中被剔除)(12)4(2)3 5(10)17持續經營總額$62 36$139$ 116$84$237$273$通過投資收益計算的股權證券MTM(A)$289$276$261$234$195$289$195投資使用權益法核算(B)1，6611,626 1,6191,5171,4071,6611,407 AFG管理的CLO (在合併中被淘汰)85 97 119 76 96 97 96持續運營總額$1,987 2,047$1,999$1,827$1,698$2,047$1, 698美元年化回報-持續經營7.1%12.4%29.1%26.3%20.3%16.1%23.2%(A)AFG記錄了其有限合夥企業和類似投資組合的持有收益和淨投資收入的損失，這些投資組合不符合權益法會計條件，並通過淨投資收入在購買時歸類為公允價值的某些其他證券。(C)包括AFG從出售年金業務中保留的與房地產有關的合夥企業的投資收入。第19頁

固定到期日-按證券類型劃分-AFG綜合(以百萬美元為單位)投資未實現%2022年9月30日(C)公允價值收益(虧損)公允價值投資組合美國政府和政府機構$229$214$(15)2%1%各州、市政當局和政治部門1,3561,258(98)12%9%外國政府260 248(12)2%2%住宅抵押貸款支持證券1,7581，604(154)16%11%商業抵押貸款支持證券88 85(3)1%1%抵押貸款債券1,878 1,806(72)18% 13%其他資產支持證券2,442 2,271(171)23%16%公司債券和其他債券2,5782,754(176)26%18%AFG合併$10,064 10,765$(701)$100%71%可供出售的年化收益率固定到期日：不包括投資支出(A)3.32%扣除投資支出(A)3.19%税額，扣除投資支出後的淨值(B)3.30%近似平均壽命和持續期：近似平均壽命4.0年近似持續期3.0年未實現投資的%投資賬面價值(C)公允價值收益(損失)公允價值投資組合美國政府和政府機構$216$216$-2%1%州、市和政治分區1,7581，832 74 18%12%外國政府273 271(2)2%2% 住宅抵押貸款支持證券915 960 459%6%商業抵押貸款支持證券102 104 21%1%抵押貸款支持證券1,642 1,643 1 16%10%其他資產支持證券2,670 2,676 6 26%17%公司和其他債券2,683 2,636 47 26%17%AFG合併總額10,385 10，212$173$100%66%可供出售的年化收益率固定到期日：不包括投資費用(A)2.84%扣除投資費用(A)2.74%税金等值, 扣除投資費用後的淨額 (B)2.86%近似平均壽命和持續期：近似平均壽命3.5年近似持續期2年(A)年化收益率的計算方法是該季度的投資收益除以該季度的平均成本。平均成本是本季度期初和期末資產餘額的平均值。(B)將免税債券的收益率調整為完全應税的等值收益率。(C)賬面價值是攤銷成本扣除預期信貸損失準備後的淨額。第20頁

Appendix A American Financial Group, Inc. Fixed Maturities by Credit Rating & NAIC Designation by Type 9/30/2022 ($ in millions) Fair Value by Type By Credit Rating (a) US Gov Munis Frgn Gov RMBS CMBS CLOs ABS Corp/Oth Total % Total Investment grade AAA $ 214 $ 490 $ 231 $ 1,312 $ 63 $ 1,613 $ 917 $ 33 $ 4,873 48% AA - 707 10 5 14 142 373 154 1,405 14% A - 50 5 80 2 40 425 601 1,203 12% BBB 8 - - 1 3 8 429 1,210 1,659 17% Subtotal - Investment grade 214 1,255 246 1,398 82 1,803 2,144 1,998 9,140 91% BB - - - 8 3 - 8 217 236 2% B - - - 7 - - 2 35 44 1% CCC, CC, C - - - 108 - - 5 2 115 1% D - - - 13 - - - - 13 0% Subtotal - Non-Investment grade - - - 136 3 - 15 254 408 4% Not Rated (b) 3 - 2 70 - 3 112 326 516 5% Total $ 1,258 214 $ 248 $ 1,604 $ 85 $ 1,806 $ 2,271 $ 2,578 $ 10,064 $ 100% Fair Value by Type % Total NAIC designation US Gov Munis Frgn gov RMBS CMBS CLOs ABS Corp/Oth Total 1 $ 214 $ 1,250 $ 208 $ 1,532 $ 82 $ 1,541 $ 1,738 $ 970 $ 7,535 79% 2 8 - - - - - 429 1,233 1,670 18% Subtotal 214 1,258 208 1,532 82 1,541 2,167 2,203 9,205 97% 3 - - - 1 3 - 8 227 239 3% 4 - - - 1 - - 3 35 39 0% 5 - - - 3 - - 9 22 34 0% 6 - - - - - - - 1 1 0% Subtotal - - - 5 3 - 20 285 313 3% Total insurance companies $ 1,258 214 $ 208 $ 1,537 $ 85 $ 1,541 $ 2,187 $ 2,488 $ 9,518 $ 100% Total non-insurance (c) - - 40 67 - 265 84 90 546 Total $ 1,258 214 $ 248 $ 1,604 $ 85 $ 1,806 $ 2,271 $ 2,578 $ 10,064 $ (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, 95% are NAIC 1 and 4% are NAIC 5. For Corp/Oth, 57% are NAIC 1, 6% NAIC 2 and 26% are held by non-insurance companies. For Total, 69% are NAIC 1, 4% NAIC 2 and 18% are held by non-insurance companies. (c) 78% are investment grade rated. Page 21

Appendix B American Financial Group, Inc. Fixed Maturities by Credit Rating & NAIC Designation by Type 12/31/2021 ($ in millions) Fair Value by Type By Credit Rating (a) US Gov Munis Frgn Gov RMBS CMBS CLOs ABS Corp/Oth Total % Total Investment grade AAA $ 216 $ 745 $ 260 $ 654 $ 73 $ 1,428 $ 1,330 $ 50 $ 4,756 46% AA - 1,010 - 7 15 149 420 179 1,780 17% A - 60 - 19 1 56 416 675 1,227 12% BBB 9 - 1 4 12 9 274 1,062 1,371 13% Subtotal - Investment grade 216 1,824 261 684 101 1,642 2,440 1,966 9,134 88% BB - - - 11 3 - 4 144 162 2% B - - - 14 - - 9 14 37 0% CCC, CC, C - - - 138 - - - 7 145 1% D - - - 19 - - - - 19 0% Subtotal - Non-Investment grade - - - 182 3 - 13 165 363 3% Not Rated (b) 8 - 10 94 - 1 223 552 888 9% Total $ 1,832 216 $ 271 $ 960 $ 104 $ 1,643 $ 2,676 $ 2,683 $ 10,385 $ 100% Fair Value by Type % Total NAIC designation US Gov Munis Frgn gov RMBS CMBS CLOs ABS Corp/Oth Total 1 $ 216 $ 1,822 $ 246 $ 892 $ 101 $ 1,172 $ 1,935 $ 1,157 $ 7,541 83% 2 9 - - 3 - 9 274 1,082 1,377 15% Subtotal 216 1,831 246 895 101 1,181 2,209 2,239 8,918 98% 3 - - - 3 3 - 4 146 156 2% 4 - - - 1 - - 9 20 30 0% 5 - - - 8 - 1 2 29 40 0% 6 - - - 1 - - - - 1 0% Subtotal - - - 13 3 1 15 195 227 2% Total insurance companies $ 1,831 216 $ 246 $ 908 $ 104 $ 1,182 $ 2,224 $ 2,434 $ 9,145 $ 100% Total non-insurance (c) 1 - 25 52 - 461 452 249 1,240 Total $ 1,832 216 $ 271 $ 960 $ 104 $ 1,643 $ 2,676 $ 2,683 $ 10,385 $ (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, 87% are NAIC 1 and 12% are held by non-insurance companies. For Corp/Oth, 47% are NAIC 1, 4% NAIC 2 and 44% are held by non-insurance companies. For Total, 61% are NAIC 1, 3% NAIC 2 and 31% are held by non-insurance companies. (c) 75% are investment grade rated. Page 22

Appendix C American Financial Group, Inc. Corporate Securities by Credit Rating & NAIC Designation by Industry 9/30/2022 ($ in millions) Fair Value By Industry Asset Other Capital Basic Credit Rating (a) Managers Financials Banking Technology Consumer Insurance REITs Retailers Media Autos Goods Industry Energy Other Total % Total Investment Grade AAA $ - $ - $ - $ 20 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 13 $ 33 1% AA - 10 - 39 50 20 - 5 - - - - 19 11 154 6% A 47 76 53 53 28 116 55 17 - 39 52 3 - 62 601 23% BBB 101 408 203 100 42 25 78 30 32 23 17 62 11 78 1,210 47% Subtotal 455 187 256 212 120 161 133 52 32 62 69 65 30 164 1,998 77% BB 21 11 - 20 46 3 2 45 34 11 2 10 6 6 217 9% B - - - 10 5 1 - - - 4 4 - - 11 35 1% CCC, CC, C - - - - 2 - - - - - - - - - 2 0% D - - - - - - - - - - - - - - - 0% Subtotal 21 11 - 30 53 4 2 45 34 15 6 10 6 17 254 10% Not Rated (b) 234 9 - 11 20 14 10 - 17 - 2 - - 9 326 13% Total $ 432 485 $ 256 $ 253 $ 193 $ 179 $ 145 $ 97 $ 83 $ 77 $ 77 $ 75 $ 36 $ 190 $ 2,578 $ 100% Fair Value By Industry Asset Other Capital Basic NAIC designation Managers Financials Banking Technology Consumer Insurance REITs Retailers Media Autos Goods Industry Energy Other Total % Total 1 $ 47 $ 248 $ 53 $ 113 $ 87 $ 136 $ 55 $ 22 $ 13 $ 40 $ 52 $ 3 $ 19 $ 82 $ 970 39% 2 103 417 203 100 48 27 78 30 32 22 19 62 11 81 1,233 50% Subtotal 464 351 256 213 135 163 133 52 45 62 71 65 30 163 2,203 89% 3 21 10 - 34 47 2 2 45 34 11 2 6 6 7 227 9% 4 - 1 - 3 4 - 10 - - 4 3 4 - 6 35 1% 5 - - - 3 7 - - - 4 - - - - 8 22 1% 6 - - - - - - - - - - 1 - - - 1 0% Subtotal 21 11 - 40 58 2 12 45 38 15 6 10 6 21 285 11% Total insurance companies $ 362 485 $ 256 $ 253 $ 193 $ 165 $ 145 $ 97 $ 83 $ 77 $ 77 $ 75 $ 36 $ 184 $ 2,488 $ 100% Total non-insurance - 70 - - - 14 - - - - - - - 6 90 Total $ 432 485 $ 256 $ 253 $ 193 $ 179 $ 145 $ 97 $ 83 $ 77 $ 77 $ 75 $ 36 $ 190 $ 2,578 $ (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 Other Financials, 70% are NAIC 1 and 30% are held by non-insurance companies. For the Total, 57% are NAIC 1, 6% NAIC 2 and 26% are held by non-insurance companies. Page 23

Appendix D American Financial Group, Inc. Corporate Securities by Credit Rating & NAIC Designation by Industry 12/31/2021 ($ in millions) Fair Value By Industry Other Asset Capital Credit Rating (a) Financials Managers Banking Technology Insurance Autos Consumer REITs Energy Healthcare Communications Goods Other Total % Total Investment Grade AAA $ - $ - $ - $ 16 $ - $ - $ 9 $ - $ - $ 10 $ 13 $ - $ 2 $ 50 2% AA 13 - 27 47 35 - 17 - 35 2 - - 3 179 7% A 104 37 90 26 116 55 44 57 21 22 23 46 34 675 25% BBB 319 102 204 75 17 88 22 63 30 39 32 12 59 1,062 39% Subtotal 219 356 321 164 168 143 92 120 86 73 68 58 98 1,966 73% BB 4 5 - 35 3 11 44 - 9 9 - 2 22 144 5% B - - - 3 - 4 5 - - 2 - - - 14 1% CCC, CC, C - - - - - - 2 - - - - - 5 7 0% D - - - - - - - - - - - - - - 0% Subtotal 4 5 - 38 3 15 51 - 9 11 - 2 27 165 6% Not Rated (b) 10 483 - - 10 - 15 6 - 6 - 2 20 552 21% Total $ 371 706 $ 321 $ 202 $ 181 $ 158 $ 158 $ 126 $ 95 $ 90 $ 68 $ 62 $ 145 $ 2,683 $ 100% Fair Value By Industry Other Asset Capital Financials Managers Banking Technology Insurance Autos Consumer REITs Energy Healthcare Communications Goods Other Total % Total NAIC designation 1 $ 356 $ 37 $ 118 $ 88 $ 151 $ 55 $ 73 $ 57 $ 56 $ 35 $ 36 $ 46 $ 49 $ 1,157 48% 2 103 329 203 75 17 88 27 63 30 39 32 14 62 1,082 44% Subtotal 459 366 321 163 168 143 100 120 86 74 68 60 111 2,239 92% 3 4 5 - 33 3 11 44 6 9 8 - 2 21 146 6% 4 4 - - 3 1 4 5 - - 3 - - - 20 1% 5 3 - - 3 - - 9 - - 5 - - 9 29 1% 6 - - - - - - - - - - - - - - 0% Subtotal 11 5 - 39 4 15 58 6 9 16 - 2 30 195 8% Total insurance companies $ 371 470 $ 321 $ 202 $ 172 $ 158 $ 158 $ 126 $ 95 $ 90 $ 68 $ 62 $ 141 $ 2,434 $ 100% Total non-insurance - 236 - - 9 - - - - - - - 4 249 Total $ 371 706 $ 321 $ 202 $ 181 $ 158 $ 158 $ 126 $ 95 $ 90 $ 68 $ 62 $ 145 $ 2,683 $ (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 Other Financials, 50% are NAIC 1 and 49% are held by non-insurance companies. For the Total, 47% are NAIC 1, 4% NAIC 2, and 44% are held by non-insurance companies. Page 24

附錄E美國金融集團，按抵押品劃分的資產支持證券類型9/30/2022(以百萬美元為單位)按抵押品劃分的公允價值按抵押品類型單一抵押商業整體擔保三重家庭信用評級(A)房地產業務TruPS融資(C) 租賃鐵路飛機貸款汽車其他應收賬款總額%投資級AAA$503$-$42$25$141$145$-$-$7$6$22$26$917 40%AA 51 183 45 21 12-18 8 373 16%A-4 7 34 8-148 41 44--139 425 19%BBB 308--1--6 28-63-23 429 19%小計511 363 232 105 170 157 154 77 70 69 40 196 2，144 94%BB---1---7---8 1%B---1---1---2 0%CCC，CC，C---5---50%D---0%小計---151%未評級(B)---94---5---13 112 5%總計$363 511$232$201$170$157$154元95元70元69元40元209元2271$100%按抵押品類型劃分的公允價值擔保單一按揭商業整體融資三倍淨家庭消費服務商NAIC指定房地產業務(B)租賃鐵路飛機貸款應收賬款汽車其他合計%合計1$433$55$232$198$170$156$148$49$65$6$40$186$1,738 79%2-308-1-6 28-63-23 429 20%小計433 363 232 199 170 156 154 77 65 69 40 209 2167 99%3---1---8 1%4---2---3 0%5---9保險公司總數$363 433$232$201$170$156$154$95$65$69$40$209$2，187$100%非保險合計-78---1--5---84合計$363 511$232$201$170$157$154$95$70$69$40$209$2,271$(A)如果兩家機構對證券進行評級, 上面顯示的評級是兩個評級中較低的一個；如果有三個或更多機構對一種證券進行評級，則顯示的評級是第二低的。(B)95%的未評級證券為NAIC 1，4%為NAIC 5。(C)抵押融資為私募融資協議，抵押資產包括獨户租賃物業、銀行貸款、銀行信託優先股、商業及住宅按揭。第25頁

附錄F美國金融集團資產支持證券按抵押品劃分的信用評級和NAIC指定類型12/31/2021(以百萬美元為單位)按抵押品劃分的公允價值按抵押品類型單一三重抵押商業擔保全家庭淨消費服務商信用評級(A)房地產融資(C)汽車業務 TruPS租賃鐵路汽車租賃飛機貸款應收賬款其他總額%總投資級AAA$690$25$181$-$128$-$89$-$33$39$145$1，330 50%AA 8 67 20 40 167 23-25 9 46-15 420 16%A-44 7 4 20-132 11 54 35-109 416 16%BBB 1--159---42-62 10 274 10%總計698 137 208 203 187 151 132 125 105 114 101 279 2,440 92%BB-1---3--4 0%B-1C---0%D---0% 小計-2---130%未評級(B)157---3--63 2238%總計$296 698$208$203$187$151$132$125$119$114$101$342$2676$100%按抵押品類型劃分的公允價值1,935 87%2-1-159--42-62 10 274 12%小計504 268 49$49$44$187$151$132$125$63$106$39$268$ 1,935 87%2-1-159--42-62 10 274 12%小計504 268 49 203 187 151 132 125 105 101 278 2209 99%3-1---3---4 0%4-1---8---9 1%5---2---2 0%6保險公司總數$270 504$49$203$187$151$132$125$118$106$101$278$2224$100%非保險26 194 159---1 8-64 452總計$296 698$208$203$187$151$132$125$119$114$101$342$2,676$(A)如果兩家機構對證券進行評級, 上面顯示的評級是兩個評級中較低的一個；如果有三個或更多機構對一種證券進行評級，則顯示的評級是第二低的。(B)87%的未評級證券為NAIC 1 ，12%由非保險公司持有。(C)擔保融資是指以資產擔保的私募融資協議，包括銀行貸款、獨户租賃物業以及其他商業貸款和租賃。第26頁

附錄G美國金融集團，Inc.房地產相關投資 2022年9月30日(以百萬美元為單位)投資使用權益法(房地產基金/投資)(A)投資類型賬面價值佔用的百分比(B)收款率(C)多户$1,116 92%96%98%基金投資51 4%--QOZ基金-開發18 1%--辦公室15 1%93%100%酒店業9 1%--土地開發8 1%--學生住房0%1---總計1,218美元100%房地產類型賬面價值債務度假村和碼頭$52 53%$-碼頭 35 35%-酒店-0%-寫字樓10 10%-土地2%2-總計99美元100%$-抵押貸款佔貸款與物業類型賬面價值的百分比490 72%67%酒店業128 19%50%辦公室589%69%零售-0%-總計676美元100%64% 目前，沒有一筆貸款通過忍耐協議獲得利息延期。(A)按權益法計算的總投資額為17億美元，本表所列數額僅涉及房地產基金/投資。(B) 截至22年9月30日的入住率(C)7月至9月的收藏量第27頁

Appendix H American Financial Group, Inc. Real Estate-Related Investments 12/31/2021 ($ in millions) Investments accounted for using equity method (Real Estate Funds/Investments) (a) % of Investment Type Book Value Book Value Occupancy (b) Collection Rate (c) Multi-family $ 1,000 88% 96% 98% Fund Investments 43 4% - - Student Housing 30 3% 94% 98% Land - Development 19 2% - - QOZ Fund - Development 15 1% - - Office 15 1% 81% 100% Hospitality 1% 8 -- Total 1,130 $ 100% Real Estate % of Property Type Book Value Book Value Debt Marina $ 53 42% $ - Resort & Marina 38 31% - Hotel 21 17% - Office Building 11 8% - Land 2% 2 - Total 125 $ 100% $ - Mortgage Loans % of Loan To Property Type Book Value Book Value Value (d) Hospitality 316 61% 67% Multi-family 146 28% 54% Office 58 11% 73% Retail - 0% 0% Total 520 $ 100% 64% Currently, no loans are receiving interest deferral through forbearance agreements. (a) Total investments accounted for using the equity method is $1.5 billion, the amounts presented in this table only relate to real estate funds/investments. (b) Occupancy as of 12/31/21 (c) Collections for October - December (d) Based on most recent property appraisals, the vast majority of which are prior to March 2020. Page 28