EX-99.2

附件99.2美國金融集團投資者補充資料-2023年第四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 - Fourth Quarter 2022 4 Section Page Table of Contents - Investor Supplement - Fourth 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 12/31/2022............................................................................................ 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 12/31/2022............................................................................... 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 12/31/2022.............................................................. 25 F. Asset-Backed Securities by Credit Rating & NAIC Designation by Collateral Type 12/31/2021.............................................................. 26 G. Real Estate-Related Investments 12/31/2022......................................................................................................................................... 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：百萬除每股信息外)截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21重點淨收益$276$165$167$290$355$898$1,995持續運營淨收益276 165 167 290 355 898 1,081核心淨運營收益255 192 243 303 351 993 993總資產28,831 29,532 28,084 28,762 28,931 28,831 28,831 28,831 28,831 28,931調整後股東權益(A)4，54,515,401,948,876，54,878財產和保險淨保費{br1,338 1,984 1,516 1,270 6,206 5,573每股攤薄收益數據每股攤薄收益$3.24$1.93$1.96$3.40$4.18$10.53$23.30持續運營的攤薄每股收益3.24 1.93 1.96 3.40 4.18 10.53 12.62核心運營淨收益每股收益2.99 2.24 2.85 3.56 4.12 11.63 11.59調整後每股賬面價值(A)53.73 53.03 51.68 58。14 57.42 53.73 57.42每股普通股股息2.63 0.56 8.56 2.56 6.56 14.31 28.06財務比率年化股本回報率(B) 24.2%14.7%14.3%23.5%28.5%19.2%37.5%年化核心營運股本回報率(B)22.3%17.1%20.7%24.6%28.1%21.2%18.6%財產和意外傷害綜合比率--專業：虧損率60.8%66.4%55.4%53.1%56.5%59.6%58.4% 承保費用比率25.8%24.7%30.4%30.9%24.2%27.6%28.0%合併比率-專業86.6%91.1%85.8%84.0%80.7%87.2%86.4%(A)不包括與固定期限投資有關的未實現收益(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，截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21財產和意外保險承保利潤$218$155$196$207$279$776$733淨投資收益159 145 156 223 196 683 663其他收入 (費用)(14)(11)(7)(8)10(40)(6)財產和意外保險營業收益363 289 345 422 485 1,419 1,390房地產實體和其他從年金獲得的收益---50母公司控股公司的利息支出(20)(19) (23)(23)(23)(85)(94)其他支出(25)(26)(14)(21)(24)(86)(114)税前核心營業收益318 244 308 378 438 1,248 1,232所得税支出63 52 65 75 75 87 255 239核心營業淨收益255 192243 303 351 993 993非核心項目，税後淨額：證券已實現收益(虧損)21(28)(73)(12)4(92)87債務償還收益(虧損)--1(7)(1)-(7)--其他非核心項目--4--4 1持續經營淨收益$276$165$167$290$355$898$1,081終止年金業務---914淨收益$276$165$167$290$355$898$1,995第4頁

美國金融集團公司每股收益摘要(單位：百萬，(br}除每股信息外)截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21核心淨營業收益$255$192$243$303$351$993$993持續運營淨收益$276$ 165$167$290$355$898$1,081淨收益$276$165$167$290$355$898$1,995稀釋後股票平均數-核心85.350 85.365 85.339 85.240 85.162 85.324 85.628稀釋後平均股數-淨85.350 85.365 85.339 85.240 85.162 85.324 85.628稀釋後每股收益：每股核心淨營業收益$2.99$2.24$2.85$3.56$4.12$11.63$11.59證券已實現收益(虧損)0.250.32(0.86)(0.14)0.06(1.06)1.01收益(虧損)償還債務-0.01(0.08)(0.02)-(0.09)--其他非核心項目--0.05--0.05稀釋後每股收益，持續業務$3.24$1.93$1.96$3.40$4.18$10.53$12.62非連續性年金業務---10.68稀釋後每股收益 $3.24$1.93$1.96$3.40$4.18$10.53$23.30第5頁

美國金融集團，公司財產和意外傷害保險-摘要承保業績(GAAP)(以百萬美元為單位)截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21財產和運輸$68$39$39$62$116$208$279特殊意外傷害128 118 130 124 140 500 377特殊財務33 15 37 29 24 114 96其他特殊財務(12)(14)(9)(7)1(42)(15)承保利潤-專業217 158 197 208 281 780 737其他核心費用，包括在損失和LAE 1(3)(1)(1)(2)(4)(4)承保利潤- 財產和意外傷害保險$218$155$196$207$279$776$733包括在上述結果中：本事故年新冠肺炎相關損失$-$-$-$-$2-$16本事故年巨災損失：巨災恢復保費$(13)$18$-$-$-$5$12巨災損失24 33 22 9 25 88 86事故年巨災損失$11$51$22$9$25$93$98前一年損失準備金髮展(有利)/不利$(59)$(53)$(85)$(88)$ (71)$(285)$(279)綜合比率：財產與運輸90.0%95.4%92.4%85.8%80.5%91.7%87.1%特殊傷亡81.3%82.6%80.1%80.6%78.0%81.2%84.3%專業財務83.1%91.3%78.4%82.0%85.5%83.7%85.1%其他專業 118.1%122.7%114.6%112.9%98.0%117.1%107.2%合併比率-專業86.6%91.1%85.8%84.0%80.7%87.2%86.4%其他核心費用(0.1%)0.1%0.2%0.1%0.1%0.1%0.1%合併比率86.5%91.2%86.0%84.1%80.8%87.3%86.5%P&C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89.3%91.7%90.5%90.1%83.7%90.4%89.6%損失和損失準備金組成部分-財產和意外傷害保險本事故年度, 不包括新冠肺炎相關損失和巨災損失63.5%67.0%60.1%59.2%59.5%62.8%61.6%新冠肺炎相關損失0.0%0.0%0.0%0.2%0.0%0.3%當前事故年巨災損失0.8%2.5%1.6%0.7%1.6%1.8%之前事故年損失準備金髮展 (3.6%)(3.0%)(6.1%)(6.7%)(4.9%)(4.7%)(5.2%)損失和LAE比率60.7%66.5%55.6%53.2%56.6%59.7%58.5%第6頁

截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21毛保費$1,845$3,153$2,123$1,936$1,737$9,057$7,946(507)(1,169)(607)(568) (467)(2,851)(2，淨保費1,338 1,984 1,5161,368 1,270 6,206 5,573未賺取保費變動285(217)(123)(66)182(121)(169)淨賺取保費1,623 1,767 1,3931,3021,4526,085 5,404虧損及LAE 9871,173 773 692 8203,625 3,153承保開支419 436 423 402 351 1,680 1，514承保利潤$217$158$197$208$281$780$737包含在上述結果中：本事故年新冠肺炎相關虧損$-$-$-$-$2-$16當前意外年巨災損失：巨災恢復保費$(13)$18$-$-$5$12巨災損失24 33 22 9 25 88 86本年度合計本年巨災損失$11$51$22$9$25$93$98前一年損失準備金髮展 (有利)/不利$(58)$(56)$(86)$(89)$(73)$(289)$(283)合併比率：虧損與資產負債比率60.8%66.4%55.4%53.1%56.5%59.6%58.4%承保費用比率25.8%24.7%30.4%30.9%24.2%27.6%28.0%合併比率86.6%91.1% 85.8%84.0%80.7%87.2%86.4%專業業務比率除外。新冠肺炎相關損失、巨災損失和上年損失準備金髮展89.3%91.7%90.5%90.1%83.7%90.4%89.6%損失和LAE組成部分：當前事故年份, 不包括新冠肺炎相關和巨災損失63.5%67.0%60.1%59.2%59.5%62.8%61.6%新冠肺炎相關損失0.0%0.0%0.0%0.2%0.0%0.3%當前事故年巨災損失0.9%2.5%1.6%0.7%1.8%1.5%1.7%以前事故年損失準備金(3.6%)(3.1%)(6.3%)(6.8%)(5.0%)(4.7%)(5.2%)損失和LAE比率60.8%66.4%55.4%53.1%56.5%59.6%58.4%第7頁

美國金融集團財產和運輸公司- 承保業績(以百萬美元為單位)截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21毛保費$601$1,737$962$760$558$4,060$3,263放棄再保險保費(178) (778)(330)(259)(141)(1,545)淨保費423 959 632 501 417 2,515 2,157未賺取保費變動259(102)(127)(58)180(28)(13)淨賺得保費682 857 505 443 597 2,4872,144虧損及LAE 489 663 327 256 394 1,735 1394承保費用125 155 139 125 87 544 471承保利潤$68$39$39$62$116$208$279以上結果包括：本事故年新冠肺炎相關虧損$-$-$-$-$-$-當前事故年巨災損失：巨災恢復保費$(1)$4$-$-$3$9巨災損失8 9 19 6 15 42 49本年度合計意外年巨災損失$7$13$19$6$15$45$58前一年損失準備金髮展(有利)/不良資產$ (13)$(15)$(30)$(34)$(2)$(92)$(103)合併比率：虧損與資產負債比率71.8%77.3%64.7%57.7%66.0%69.8%65.1%承保費用比率18.2%18.1%27.7%28.1%14.5%21.9%22.0%合併比率90.0%95.4%92.4%85.8%80.5%91.7%87.1% 合併比率(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90.8%95.8%94.6%92.1%78.4%93.5%89.2%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 72.6%77.7%66.9%64.0%63.9%71.6%67.2%新冠肺炎相關損失0.0%0.0%0.0%當前事故年巨災損失1.0%1.4%3.8%1.5%2.5%1.9%2.7%之前事故年損失準備金髮展(1.8%)(1.8%)(6.0%)(7.8%) (0.4%)(3.7%)(4.8%)損失和LAE比率71.8%77.3%64.7%57.7%66.0%69.8%65.1%第8頁

截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21毛保費$1,007$1,184$948$976$968$4,115$3,890割讓再保險費(352)(407)(302)(326) (340)(1,387)(1，淨保費655 777 646 650 628 2,728 2,540未賺取保費變動31(100)11(11)8(69)(132)已賺取保費淨額686 677 657 639 636 2,659 2,408虧損及LAE 381 374 354 344 340 1,4531399承保費用177 185 173 171 156 706 632承保利潤$128$118$130$124$140$500$377以上結果包括：本事故年新冠肺炎相關損失$-$-$-$-$1-$9本事故年巨災損失：巨災恢復保費$(1)$1$-$-$-$1巨災損失8 2-1 3 11 9本事故年巨災損失總額$7$3$-$1$11$10前一年損失準備金髮展(有利)/不利的$(50)$(42)$ (49)$(49)$(55)$(190)$(140)綜合比率：損失和LAE比率55.4%55.3%53.9%53.8%53。5%54.7%58.1%承保費用比率25.9%27.3%26.2%26.8%24.5%26.5%26.2%合併比率81.3%82.6%80.1%80.6%78.0%81.2%84.3%合併比率除外。新冠肺炎相關損失、巨災損失、上年損失準備金髮展87.5%88.5%87.5%88.1%85。8%87.9%89.3%損失和LAE組成：當前事故年份，不包括與新冠肺炎相關的損失和巨災損失61.6%61.2% 61.3%61.3%61。3%61.4%63.1%新冠肺炎相關虧損0.0%0.0%0.0%0.0%0。2%0.0%0.4%當前事故年巨災損失1.1%0.4%0.1%0.1%0。5%0.5%0.4%以前事故年損失準備金髮展(7.3%)(6.3%)(7.5%)(7.6%) (8.5%)(7.2%)(5.8%)損失和LAE比率55.4%55.3%53.9%53.8%53.5%54.7%58.1%第9頁

美國金融集團，截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/22 12/31/22 12/31/22 12/31/21毛保費$237$232$213$200$211$882$793(38)(56)(36)(41)(38) (171)(135)淨保費變動在未賺取保費(6)(5)(6)4(8)(13)(16)淨賺取保費193 171 171 163 165 698 642虧損及LAE 66 80 44 48 52 238 213承保費用94 76 90 86 89 346 333承保利潤$33$15$37$29$24$114$96以上結果包括：本意外年份新冠肺炎相關虧損$-$-$-$1$-$7本意外年度巨災損失：巨災恢復保費$(10)$13$- $-$-$3$2巨災損失7 21 3 2 6 33 26當前事故年巨災損失總額$(3)$34$3$2$6$36$28前一年損失準備金髮展(有利)/不利$(8)$(11)$(15)$(13)$(47)$(51)綜合比率：損失與資產負債比率33.8%47.2%25.7%29.4%31.7%34.1%33.2%承保費用比率49.3%44.1%52.7%52.6%53.8%49.6%51.9%合併比率83.1%91.3%78.4%82.0%85.5%83.7%85.1%新冠肺炎相關損失、巨災損失、上年損失準備金髮展85.3%82.4%85.7%88.9%89.3%85.6%87.9%損失及LAE成分：當前事故年、不包括新冠肺炎相關損失和巨災損失36.0%38.3%33.0%36.3%35.5%36.0%36.0% 新冠肺炎相關損失0.0%0.0%0.0%0.7%0.0%1.1%當前事故年巨災損失1.9%15.2%1.5%1.2%3.7%4.9%4.1%上一事故年損失準備金髮展(4.1%)(63.3%)(8.8%)(8.1%)(8.2%)(6.8%)(8.0%)損失和LAE比率 33.8%47.2%25.7%29.4%31.7%34.1%33.2%第10頁

美國金融集團，截至12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21毛保費$-$-$-$-$-$-再保險費61 72 61 58 52 252 218淨保費61 72 61 58 52 252 218未賺取保費變動1(10)(1)(1)2(11)(8)淨賺取保費62 62 60 57 54 241 210虧損及LAE 51 56 48 44 34 199 147承保費用23 20 21 20 19 84 78承保利潤(虧損)$(12)$(14)$(9)$(7)$1$(42)$(15)以上結果包括：現意外年份新冠肺炎相關虧損$-$-$-$-$-$-當前意外年份巨災損失：巨災恢復保費$(1)$-$-$-$-(1)$-巨災損失1 1--當前事故年巨災損失總額$-$1$-$-$1$2前一年損失準備金髮展(有利)/不利$13$12$8$7$(3)$40$11合併比率：損失和資產負債比率83.3%89.3%79.6%77.1%61.7%82.4%70.0% 承保費用比率34.8%33.4%35.0%35.8%36.3%34.7%37.2%合併比率118.1%122.7%114.6%112.9%98.0%117.1%107.2%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98.5% 100.7%101.5%99.9%100.4%100.1%100.8頁第11頁

美國金融集團終止年金業務(以百萬美元為單位)截至三個月(A)截至12/31/2022 9/30/22 6/30/22 3/31/22 12/31/21 12/31/2022 12/31/21税前年金歷史上報告為核心運營(A)$-$-$-$-$-$-$295公平價值的影響，再保險會計和解鎖---(33)年金分項的已實現收益---112個流出壽命和長期護理---出售給大眾互助的業務的税前收益---(50)非持續業務的税前收益，不包括非連續性業務的銷售收益---324税---(66)非連續性業務的淨收益，不包括出售非連續性業務的收益 ---258出售年金業務的收益---656非連續性業務的淨收益$-$-$-$-$-$-$(A)AFG於2021年5月28日完成了其年金業務的出售。截至21年12月31日的12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) 12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 Assets: Total cash and investments $ 14,512 $ 14,322 $ 14,268 $ 15,601 $ 15,745 $ 16,387 Recoverables from reinsurers 3,977 4,108 3,567 3,478 3,519 3,523 Prepaid reinsurance premiums 917 1,180 1,006 933 834 1,028 Agents' balances and premiums receivable 1,339 1,698 1,623 1,391 1,265 1,492 Deferred policy acquisition costs 288 292 293 271 267 262 Assets of managed investment entities 5,447 5,099 5,218 5,231 5,296 5,130 Other receivables 886 1,328 740 645 857 1,097 Other assets 1,219 1,259 1,123 966 902 847 Goodwill 246 246 246 246 246 176 Total assets $ 28,831 $ 29,532 $ 28,084 $ 28,762 $ 28,931 $ 29,942 Liabilities and Equity: Unpaid losses and loss adjustment expenses $ 11,974 $ 12,067 $ 11,201 $ 10,986 $ 11,074 $ 10,991 Unearned premiums 3,246 3,785 3,397 3,206 3,041 3,415 Payable to reinsurers 1,035 1,366 971 910 920 1,146 Liabilities of managed investment entities 5,332 5,002 5,133 5,112 5,220 5,034 Long-term debt 1,496 1,533 1,542 1,917 1,964 1,964 Other liabilities 1,696 1,847 1,773 1,796 1,700 2,152 Total liabilities $ 24,779 $ 25,600 $ 24,017 $ 23,927 $ 23,919 $ 24,702 Shareholders' equity: Common stock $ 85 $ 85 $ 85 $ 85 $ 85 $ 85 Capital surplus 1,368 1,358 1,351 1,340 1,330 1,315 Retained earnings 3,142 3,091 2,979 3,541 3,478 3,680 Unrealized gains (losses) - fixed maturities (497) (554) (326) (109) 136 178 Unrealized losses - fixed maturity-related cash flow hedges (29) (29) (8) (4) - - Other comprehensive income (loss), net of tax (17) (19) (14) (18) (17) (18) Total shareholders' equity 4,052 3,932 4,067 4,835 5,012 5,240 Total liabilities and equity $ 28,831 $ 29,532 $ 28,084 $ 28,762 $ 28,931 $ 29,942 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，除每股信息外)12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 9/30/21股東權益$4,052$3,932$4,067$4,835$5,012$5,240 526 583 334 113(136)(178)與固定到期日相關的未實現(收益)虧損4,578 4,515 4,401 4,948 4,876 5,062商譽(246)(2 46)(2 46)(246)(176)(1)(11)無形資產$4,224$4,158$4,054$4,598$4,524$4,857有形調整後普通股流通股85.204 85.141 85.154 85.103 84.921 84.795每股賬面價值：每股賬面價值$47.56$46.18$47.76$56.81$59.02$61.80調整後(A)53.73 53.03 51.68 58.14 57.42 59.70調整後的 (B)49.58 48.84 47.60 54.02 53.26 57.28 AFG的收盤價普通股價格$137.28$122.93$138.81$145.62$137.32$125.83市值$11,697$10,466$11,820$12,393$11,661$10,670價格/調整後賬麪價值比率比率2.56 2.32 2.69 2.50 2.39 2.11(A)不包括與固定期限投資相關的未實現收益(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(以百萬美元為單位)12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 9/30/21 AFG優先債務$846$884$893$1,270$1,318$1,318$1,318$1,270$1,270$1,318$1,318 675 675 675 AFG次級債券長期債務本金總額$1,521$1,559$1,568$1,945$1,993$1,993股東權益$4,052 3,932 4,067減少4,835 5,012 5,240：526 583 334 113(136)(178)與固定期限投資有關的未實現(收益)虧損$6,099$6,074$5,969$6,893$6,869$7,055債務與調整資本總額的比率：包括次級債務24.9%25.7%26.3%28.2%29.0%28.2%不包括次級債務13.9%14.6% 15.0%18.4%19.2%18.7%第15頁

美國金融集團，截至12/31/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21財產和意外保險$914$776$678$714$758$3,082$2,777已支付損失(GAAP)12/31/22 9/30/22 6/30/22 3/31/22 12/31/21財產和意外保險$5,433$5,527$5,399$5,375$5,228$4,934(838)(993)(984)(409)(335)146母公司和其他子公司$4,595$4,534$4,415$4,966$4,893$5,080 AFG GAAP 未經監管部門批准的股權(不包括AOCI)允許的股息財產和意外傷害保險$887$843$843$843$416第16頁

美國金融集團總現金和投資($in 百萬)賬面價值-12月31日，2022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$622$250$-$8726%固定到期日-可供出售9,505 590-10,095 70%固定到期日--交易32--32 0%權益證券-普通股553-5534%權益證券-永久優先股457--4573%使用權益法計算的投資 1,699 1-1,700 12%抵押貸款676-676 4%房地產和其他投資153 89(115現金和投資總額$13,697$930$(115)$14,512 100%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123103(76)150 1%現金及投資總額$13,836$1,985$(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12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21財產和意外保險公司：總投資收益固定期限-可供出售$106$93$81$76$68$ 356$280固定期限-交易1-1-2 1股權證券-股息14 10 7 7 8 38 28股權證券-MTM 6(7)(2)8 14 5 48被投資人股權21 37 76 133 99 267 272 AFG管理的CLO-4(12)(2)3(10)20其他投資(A) 14 12 9 5 8 40 26總投資收益162 149 160 227 200 698 675投資支出(3)(4)(4)(4)(4)(15)(12)總投資收益$159$145$156$223$196$683$663平均現金和投資(B)$14304美元14,105美元13,983美元13,858美元13,552美元14,048美元12,944平均收益率-扣除庫存費用前的固定到期日(C)4.15%3.73%3.33%3.20%3.04%3.63%3.13%平均收益率-整體投資組合，淨額(C)4.45%4.11%4.46%6.44%5.79%4.86%5.12%平均税額等值收益率 -整體投資組合，淨額(C)4.53%4.21%4.56%6.54%5.92%4.96%5.25%AFG綜合淨投資收益：財產和意外傷害核心$159$145$156$223$196$683$663被投資人股權(D)---49其他投資(D)--- ---2母公司和其他9 10-5 16 24 36合併CLO-(4)12 2(3)10(20)總投資淨收益$168$151$168$230$209$717$730平均現金和投資(B)$15，083$14,852$15,210$15,656$15,867$15,231$14,715平均收益率-整體投資組合，淨額(C)4.46%4.07%4.42%5.88%5.27%4.71%4.96%扣除投資費用前的固定收益率(C)4.19%3.74%3.17%3.03%2.84%3.54%3.02%(A)包括抵押貸款、房地產和短期投資的收入, 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期間的投資收益除以平均餘額。(D)AFG從出售年金業務中保留的與房地產相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12/31/22 9/30/22 6/30/22 3/31/22 12/31/21 12/31/22 12/31/21財產和意外保險公司：淨投資收益(A)$7$(5)$(2) $8$14$8$48投資採用權益法(B)21 37 76 133 99 267 272 AFG管理的CLO(在合併中被剔除)-4(12)(2)3(10)20財產和意外傷害保險總額$28$36$62$139$116$265$340投資通過投資收益計算的股權證券MTM(A)$332$289$276$261$234$332$234投資使用權益法核算(B)1，699 1,661 1,626 1,6191,5171,699 1,517 AFG管理的CLO(在合併中被淘汰)115 97 85 119 76 115 76總計財產及意外傷害2,146$2,047$1,987$1,999$1,827$2,146$1827 5.3%7.1%12.4%29.1%26.3%13.2%25.3%年化回報-財產和意外傷害持續經營：淨投資收益權益證券通過投資收益的MTM(A)$7$(5)$(2)$8$14$8$48投資使用權益法核算(B)(C)21 37 76 133 99 267 321 AFG管理的CLO(合併中取消)-4(12)(2)3(10)20持續經營總額${br28$36$62$139$116$265$389通過投資收益計算的股權證券MTM(A)$332$289$276$261$234$332$234投資採用權益法(B)1，700 1,6611,626 1,6191,517 1,700 1,517 AFG 管理的CLO(在合併中取消)115 97 85 119 76 115 76持續運營總計$2,147$2,047$1,987$1,999$1,827$2,147$1, 827年化回報-持續運營5.3%7.1%12.4%29.1%26.3%13.2%24.0%(A)AFG記錄了其有限合夥企業和類似投資組合(不符合權益法會計資格)和某些其他證券在購買時通過淨投資收入計入公允價值的淨投資收益和虧損。(B)AFG的大部分投資採用權益法，其標的資產通過淨收入按市價計價。(C)包括AFG從出售年金業務中保留的與房地產相關的合夥企業的投資收入。第19頁

美國金融集團公司固定到期日-按證券類型劃分-AFG合併(以百萬美元為單位)%未實現投資的%2022年12月31日賬面價值(A)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$233$219$(14)2%2%各州，市政和政治分區1,234 1,186(48)12%8%外國政府266 252(14)2%2%2%住宅抵押貸款支持證券1,755 1,598(157)16%11%商業抵押貸款支持證券88 85(3)1%1%抵押貸款債券1,987 1,921(66)19% 13%其他資產支持證券2,428 2,245(183)22%15%公司和其他債券2,766 2,621(145)26%18%總AFG合併$10,757$10,127$(630)100%70%大約期限-P&C 3。1年約持續時間-P&C 包括現金2.9年%未實現投資的百分比12月31日2021年賬面價值(A)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%各州，城市和行政區1,758 1,832 74 18%12%外國政府273 271(2)2%2%住宅抵押貸款支持證券915 960 45 9%6%商業抵押貸款支持證券102 104 21%1%10%其他資產支持證券 2,670 2,676 6 26%17%公司債券和其他債券2,636 2,683 47 26%17%AFG合併總額$10,212$10,385$173 100%66%大約期限-P&C 2.4年大約期限-P&C包括現金2.1年(A)賬面價值為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 12/31/2022 ($ 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 $ 219 $ 477 $ 239 $ 1,317 $ 63 $ 1,708 $ 860 $ 24 $ 4,907 49% AA - 648 9 6 14 169 347 163 1,356 13% A - 50 4 76 2 41 475 670 1,318 13% BBB - 7 - - 3 - 443 1,287 1,740 17% Subtotal - Investment grade 219 1,182 252 1,399 82 1,918 2,125 2,144 9,321 92% BB - - - 8 3 - 8 200 219 2% B - - - 8 - - 1 51 60 1% CCC, CC, C - - - 103 - - 5 1 109 1% D - - - 8 - - - - 8 0% Subtotal - Non-Investment grade - - - 127 3 - 14 252 396 4% Not Rated (b) - 4 - 72 - 3 106 225 410 4% Total $ 219 $ 1,186 $ 252 $ 1,598 $ 85 $ 1,921 $ 2,245 $ 2,621 $ 10,127 100% Fair Value by Type % Total NAIC designation US Gov Munis Frgn gov RMBS CMBS CLOs ABS Corp/Oth Total 1 $ 219 $ 1,178 $ 213 $ 1,506 $ 82 $ 1,627 $ 1,657 $ 878 $ 7,360 78% 2 - 8 - 11 - - 443 1,310 1,772 19% Subtotal 219 1,186 213 1,517 82 1,627 2,100 2,188 9,132 97% 3 - - - 1 3 - 8 239 251 3% 4 - - - - - - 1 46 47 0% 5 - - - 3 - - 10 22 35 0% 6 - - - 1 - - - - 1 0% Subtotal - - - 5 3 - 19 307 334 3% Total insurance companies $ 219 $ 1,186 $ 213 $ 1,522 $ 85 $ 1,627 $ 2,119 $ 2,495 $ 9,466 100% Total non-insurance (c) - - 39 76 - 294 126 126 661 Total $ 219 $ 1,186 $ 252 $ 1,598 $ 85 $ 1,921 $ 2,245 $ 2,621 $ 10,127 (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 5% are NAIC 5. For Corp/Oth, 53% are held by non-insurance companies, 11% are NAIC 1, 12% NAIC 2 and 16% NAIC 3. For Total, 46% are NAIC 1, 7% NAIC 2, 9% NAIC 3 and 31% are held by non-insurance companies. (c) 76% 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 $ 216 $ 1,832 $ 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 $ 216 $ 1,831 $ 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 $ 216 $ 1,832 $ 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 12/31/2022 ($ in millions) Fair Value By Industry Asset Other Basic Capital Credit Rating (a) Managers Banking Financials Technology Insurance Consumer REITs Retailers Industry Media Autos Goods Energy Other Total % Total Investment Grade AAA $ - $ - $ - $ 10 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 14 $ 24 1% AA - - 23 39 21 48 - 5 - - - - 16 11 163 6% A 52 144 43 54 129 29 54 17 3 - 42 45 - 58 670 26% BBB 442 214 90 105 27 44 63 32 83 32 30 22 17 86 1,287 49% Subtotal 494 358 156 208 177 121 117 54 86 32 72 67 33 169 2,144 82% BB 22 - 12 23 1 22 2 49 8 34 11 1 5 10 200 7% B - - - 3 1 26 - - - - 4 4 - 13 51 2% CCC, CC, C - - - - - 1 - - - - - - - - 1 0% D - - - - - - - - - - - - - - - 0% Subtotal 22 - 12 26 2 49 2 49 8 34 15 5 5 23 252 9% Not Rated (b) 1 - 120 11 16 25 12 - 2 23 - 3 1 11 225 9% Total $ 517 $ 358 $ 288 $ 245 $ 195 $ 195 $ 131 $ 103 $ 96 $ 89 $ 87 $ 75 $ 39 $ 203 $ 2,621 100% Fair Value By Industry Asset Other Basic Capital NAIC designation Managers Banking Financials Technology Insurance Consumer REITs Retailers Industry Media Autos Goods Energy Other Total % Total 1 $ 52 $ 144 $ 79 $ 103 $ 150 $ 88 $ 54 $ 22 $ 3 $ - $ 42 $ 45 $ 16 $ 80 $ 878 35% 2 443 213 91 105 29 48 75 32 83 32 30 24 17 88 1, 310 53% Subtotal 495 357 170 208 179 136 129 54 86 32 72 69 33 168 2,188 88% 3 22 - 12 29 2 27 2 49 10 54 11 2 6 13 239 9% 4 - - - 5 - 24 - - - - 4 4 - 9 46 2% 5 - - - 3 - 8 - - - 3 - - - 8 22 1% 6 - - - - - - - - - - - - - - - 0% Subtotal 22 - 12 37 2 59 2 49 10 57 15 6 6 30 307 12% Total insurance companies $ 517 $ 357 $ 182 $ 245 $ 181 $ 195 $ 131 $ 103 $ 96 $ 89 $ 87 $ 75 $ 39 $ 198 $ 2,495 100% Total non-insurance - 1 106 - 14 - - - - - - - - 5 126 Total $ 517 $ 358 $ 288 $ 245 $ 195 $ 195 $ 131 $ 103 $ 96 $ 89 $ 87 $ 75 $ 39 $ 203 $ 2,621 (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, 88% are held by non-insurance companies and 11% are NAIC 1. For the total, 52% are held by non-insurance companies, 12% are NAIC 1, 11% NAIC 2 and 15% NAIC 3. 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 Financials Managers Banking Technology Insurance Autos Consumer REITs Energy Healthcare Communications Goods Other Total % Total Credit Rating (a) 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 102 319 204 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) 483 10 - - 10 - 15 6 - 6 - 2 20 552 21% Total $ 706 $ 371 $ 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 $ 470 $ 371 $ 321 $ 202 $ 172 $ 158 $ 158 $ 126 $ 95 $ 90 $ 68 $ 62 $ 141 $ 2 ,434 100% Total non-insurance 236 - - - 9 - - - - - - - 4 249 Total $ 706 $ 371 $ 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12/31/2022(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淨值家庭服務商消費者房地產業務TruPS融資(C)租賃飛機應收賬款汽車其他總信用評級(A)投資級AAA$456$-$40$25$138$156$-$-$5$8$3$29$860 38%AA 8 60 186 25 11-7-12 13 4 347 16%A-4 7 34 8-160 38-33-191 475 21%bbb-326-1--6 26 62--22 443 20%總計464 390 233 85 167 167 166 71 67 53 16 462，125 95%BB---1---7---80%B---1---10%CCC，CC，C---5---50%D---140%未評級(B)---95---5---6 106 5%總計$464$390$233$181$167$167$166元89元67元53元16元252元245 100%按抵押品類型劃分的公允價值商業擔保單一按揭房地產整體融資三淨家庭服務商消費者NAIC指定ABS商業信託(B)租賃鐵路飛機應收賬款汽車其他總額合計1$358$64$233$179$167$166$160$46$5$34$16$229$1,657 78%2-326- 1-6 26 62-22 443 21%小計358 390 233 180 167 166 62 67 34 16 251 2100 99%3---1---8 0%4---1---1 10 1%6保險公司總數$358$390$233$181$167$166$166$89$67$34$16$252$2，119 100%非保險合計106---1---19--126合計$464$390$233$181$167$167$166$89$67$53$16$252$2,245(A)如兩間評級機構對證券評級, 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)有擔保融資是私募融資協議，以資產擔保，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淨消費服務商房地產融資(C)汽車業務TruPS租賃鐵路租賃飛機貸款應收賬款其他總信用評級(A)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-1$151$132$125$119$114$101$342$2676 100%按抵押品類型劃分的公允價值單一三重按揭商業有抵押的全家淨消費服務商房地產融資(C)汽車業務TruPS租賃鐵路租賃飛機貸款應收賬款總額1$504$267$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$504$270$49$203$187$151$132$125$118$106$101$278$2224 100%非保險合計194 26 159---1 8-64 452合計$698$296$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，公司房地產相關投資(以百萬美元計)(房地產基金/投資)(A)佔投資類型賬面價值的百分比(B)收款率(C)多户基金投資1,127 92%95%98%基金投資 52 4%--QOZ基金開發19 2%--寫字樓15 1%93%100%酒店業9 1%--土地開發6 0%--學生住房10%--總計$1,229 100%房地產類型賬面價值%債務度假村和碼頭$50 52%$- 碼頭35 36%-寫字樓10 10%-土地2 2%-酒店-0%-總計$97 100%$-抵押貸款%貸款至物業類型賬面價值$491 73%67%酒店業127 19%52%寫字樓58 8%89%零售-0%-總計$676 100%66%目前，沒有一筆貸款通過忍耐協議獲得利息延期。(A)使用權益法核算的投資總額為17億美元，本表所列金額僅涉及房地產基金/投資。(B)截至2012年12月31日的入住率(C)10月至12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 8 1% - - 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