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Acquisition of Business | 9 Months Ended
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Sep. 30, 2025
Business Combination [Abstract] |
Acquisition of Business | Acquisition of Business In the third quarter of 2025, AFG acquired the 52% of Radion Insurance Holdings, LLC (“Radion”) that it did not previously own for $7 million in cash, making Radion a wholly-owned subsidiary. Radion, a managing general underwriter, specializes in healthcare coverage for small and midsize businesses. At acquisition, in accordance with accounting guidance, the existing investment in Radion (previously accounted for using the equity method of accounting) was remeasured to fair value resulting in a $3 million realized gain. The acquisition also resulted in the recognition of $5 million of amortizing intangible assets related to technology and $22 million in goodwill (see Note H — “Goodwill and Other Intangibles”).

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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