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Segments of Operations (Tables) | 9 Months Ended
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Sep. 30, 2014
Segment Reporting [Abstract] |
Segment Reporting Information, by Segment | The following tables (in millions) show AFG’s revenues and earnings before income taxes by segment and sub-segment.
| Three months ended September 30, |  | Nine months ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Revenues |  |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Premiums earned: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 504 |  |  | $ | 517 |  |  | $ | 1,129 |  |  | $ | 1,111 |
Specialty casualty | 486 |  |  | 289 |  |  | 1,266 |  |  | 825 |
Specialty financial | 115 |  |  | 121 |  |  | 348 |  |  | 350 |
Other specialty | 27 |  |  | 22 |  |  | 74 |  |  | 59 |
Total premiums earned | 1,132 |  |  | 949 |  |  | 2,817 |  |  | 2,345 |
Net investment income | 76 |  |  | 65 |  |  | 219 |  |  | 196 |
Other income | 4 |  |  | 1 |  |  | 8 |  |  | 10 |
Total property and casualty insurance | 1,212 |  |  | 1,015 |  |  | 3,044 |  |  | 2,551 |
Annuity: |  |  |  |  |  |  |
Net investment income | 287 |  |  | 259 |  |  | 851 |  |  | 764 |
Other income | 20 |  |  | 17 |  |  | 57 |  |  | 46 |
Total annuity | 307 |  |  | 276 |  |  | 908 |  |  | 810 |
Run-off long-term care and life | 48 |  |  | 50 |  |  | 147 |  |  | 147 |
Other | 1 |  |  | 46 |  |  | 41 |  |  | 68 |
Total revenues before realized gains | 1,568 |  |  | 1,387 |  |  | 4,140 |  |  | 3,576 |
Realized gains on securities | 13 |  |  | 56 |  |  | 44 |  |  | 154 |
Total revenues | $ | 1,581 |  |  | $ | 1,443 |  |  | $ | 4,184 |  |  | $ | 3,730 |
| Three months ended September 30, |  | Nine months ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Earnings Before Income Taxes |  |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Underwriting: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 11 |  |  | $ | 16 |  |  | $ | (1 | ) |  | $ | (5 | )
Specialty casualty | 32 |  |  | 19 |  |  | 100 |  |  | 70 |
Specialty financial | 21 |  |  | 22 |  |  | 46 |  |  | 50 |
Other specialty | 6 |  |  | 5 |  |  | 13 |  |  | 16 |
Other lines (a) | (24 | ) |  | (54 | ) |  | (25 | ) |  | (61 | )
Total underwriting | 46 |  |  | 8 |  |  | 133 |  |  | 70 |
Investment and other income, net | 64 |  |  | 53 |  |  | 180 |  |  | 169 |
Total property and casualty insurance | 110 |  |  | 61 |  |  | 313 |  |  | 239 |
Annuity (b) | 86 |  |  | 78 |  |  | 243 |  |  | 231 |
Run-off long-term care and life | 1 |  |  | (4 | ) |  | (3 | ) |  | (7 | )
Other (c) | (65 | ) |  | (49 | ) |  | (161 | ) |  | (174 | )
Total earnings before realized gains and income taxes | 132 |  |  | 86 |  |  | 392 |  |  | 289 |
Realized gains on securities | 13 |  |  | 56 |  |  | 44 |  |  | 154 |
Total earnings before income taxes | $ | 145 |  |  | $ | 142 |  |  | $ | 436 |  |  | $ | 443 |
(a) | Includes special charges of $24 million and $54 million in the third quarter of 2014 and 2013, respectively, to increase asbestos and environmental (“A&E”) reserves.
(b) | Includes a $5 million charge in the second quarter of 2013 to cover expected assessments from state guaranty funds related to the insolvency and liquidation of an unaffiliated life insurance company.
(c) | Includes holding company expenses and earnings (losses) of managed investment entities attributable to noncontrolling interest of ($29) million and $12 million for the third quarter and ($47) million and ($30) million for the first nine months of 2014 and 2013, respectively. Holding company expenses includes special charges totaling $6 million in the third quarter of 2014 and $22 million in the third quarter of 2013 to increase A&E reserves related to AFG’s former railroad and manufacturing operations.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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