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Segments of Operations (Tables) | 9 Months Ended
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Sep. 30, 2015
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,
| 2015 |  | 2014 |  | 2015 |  | 2014
Revenues |  |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Premiums earned: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 517 |  |  | $ | 504 |  |  | $ | 1,157 |  |  | $ | 1,129 |
Specialty casualty | 503 |  |  | 486 |  |  | 1,496 |  |  | 1,266 |
Specialty financial | 131 |  |  | 115 |  |  | 380 |  |  | 348 |
Other specialty | 22 |  |  | 27 |  |  | 71 |  |  | 74 |
Total premiums earned | 1,173 |  |  | 1,132 |  |  | 3,104 |  |  | 2,817 |
Net investment income | 83 |  |  | 76 |  |  | 245 |  |  | 219 |
Other income (*) | 2 |  |  | 4 |  |  | 61 |  |  | 8 |
Total property and casualty insurance | 1,258 |  |  | 1,212 |  |  | 3,410 |  |  | 3,044 |
Annuity: |  |  |  |  |  |  |
Net investment income | 317 |  |  | 287 |  |  | 915 |  |  | 851 |
Other income | 22 |  |  | 20 |  |  | 68 |  |  | 57 |
Total annuity | 339 |  |  | 307 |  |  | 983 |  |  | 908 |
Run-off long-term care and life | 49 |  |  | 48 |  |  | 144 |  |  | 147 |
Other | 49 |  |  | 1 |  |  | 137 |  |  | 41 |
Total revenues before realized gains (losses) | 1,695 |  |  | 1,568 |  |  | 4,674 |  |  | 4,140 |
Realized gains (losses) on securities | (16 | ) |  | 13 |  |  | 2 |  |  | 44 |
Realized gain (loss) on subsidiaries | 5 |  |  | — |  |  | (157 | ) |  | — |
Total revenues | $ | 1,684 |  |  | $ | 1,581 |  |  | $ | 4,519 |  |  | $ | 4,184 |
(*) | Includes pretax income of $51 million (before noncontrolling interest) from the sale of the Le Pavillon Hotel in the second quarter of 2015.
| Three months ended September 30, |  | Nine months ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Earnings Before Income Taxes |  |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Underwriting: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 20 |  |  | $ | 11 |  |  | $ | 14 |  |  | $ | (1 | )
Specialty casualty | 31 |  |  | 32 |  |  | 96 |  |  | 100 |
Specialty financial | 26 |  |  | 21 |  |  | 72 |  |  | 46 |
Other specialty | 7 |  |  | 6 |  |  | 13 |  |  | 13 |
Other lines (a) | (69 | ) |  | (24 | ) |  | (70 | ) |  | (25 | )
Total underwriting | 15 |  |  | 46 |  |  | 125 |  |  | 133 |
Investment and other income, net (b) | 75 |  |  | 64 |  |  | 272 |  |  | 180 |
Total property and casualty insurance | 90 |  |  | 110 |  |  | 397 |  |  | 313 |
Annuity | 67 |  |  | 86 |  |  | 230 |  |  | 243 |
Run-off long-term care and life | 6 |  |  | 1 |  |  | 14 |  |  | (3 | )
Other (c) | (53 | ) |  | (65 | ) |  | (131 | ) |  | (161 | )
Total earnings before realized gains (losses) and income taxes | 110 |  |  | 132 |  |  | 510 |  |  | 392 |
Realized gains (losses) on securities | (16 | ) |  | 13 |  |  | 2 |  |  | 44 |
Realized gain (loss) on subsidiaries | 5 |  |  | — |  |  | (157 | ) |  | — |
Total earnings before income taxes | $ | 99 |  |  | $ | 145 |  |  | $ | 355 |  |  | $ | 436 |
(a) | Includes special charges of $67 million and $24 million in the third quarter of 2015 and 2014, respectively, to increase asbestos and environmental (“A&E”) reserves.
(b) | Includes pretax income of $51 million (before noncontrolling interest) from the sale of the Le Pavillon Hotel in the second quarter of 2015.
(c) | Primarily holding company expenses, including a $4 million loss on retirement of debt in the third quarter of 2015 and special charges of $12 million and $6 million in the third quarters of 2015 and 2014, respectively, to increase A&E reserves related to AFG’s former railroad and manufacturing operations. Also includes losses of managed investment entities attributable to noncontrolling interest of $29 million for the third quarter and $47 million for the first nine months of 2014. Following the adoption of new guidance in the first quarter of 2015, there are no longer earnings (losses) of managed investment entities that are attributable to noncontrolling interests. See Note A — “Accounting Policies — Managed Investment Entities.”

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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 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 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=51669610&loc=d3e8813-108599 Reference 3: 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=51669610&loc=d3e8721-108599 Reference 4: 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 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=51669610&loc=d3e8736-108599 + Details
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