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Segments of Operations (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

The following tables (in millions) show AFG’s assets, revenues and earnings before income taxes by segment and sub-segment.

	2017				2016				2015
Assets
Property and casualty insurance (a)	$	17,171			$	15,574			$	14,689
Annuity	37,179				33,409				29,865
Run-off long-term care and life	730				752				772
Other	5,578				5,337				4,511
Total assets	$	60,658			$	55,072			$	49,837

Revenues
Property and casualty insurance:
Premiums earned:
Specialty
Property and transportation	$	1,711			$	1,662			$	1,599
Specialty casualty	2,186				2,006				2,011
Specialty financial	576				557				517
Other specialty	106				103				97
Total premiums earned	4,579				4,328				4,224
Net investment income	362				350				319
Other income (b)	28				51				78
Total property and casualty insurance	4,969				4,729				4,621
Annuity:
Net investment income	1,458				1,356				1,224
Other income	103				103				98
Total annuity	1,561				1,459				1,322
Run-off long-term care and life (c)	47				49				188
Other	283				240				194
Total revenues before realized gains (losses)	6,860				6,477				6,325
Realized gains (losses) on securities	5				19				(19		)
Realized gains (losses) on subsidiaries	—				2				(161		)
Total revenues	$	6,865			$	6,498			$	6,145

(a) Not allocable to sub-segments.

(b) Includes income of $32 million (before noncontrolling interest) from the sale of an apartment property in 2016 and $66 million (before noncontrolling interest) from the sales of a hotel and an apartment property in 2015.

(c) AFG sold substantially all of its run-off long-term care insurance business in December 2015.

	2017				2016				2015
Earnings Before Income Taxes
Property and casualty insurance:
Underwriting:
Specialty
Property and transportation	$	154			$	166			$	48
Specialty casualty	104				78				146
Specialty financial	61				84				87
Other specialty	(2		)		9				14
Other lines (a)	(75		)		(101		)		(70		)
Total underwriting	242				236				225
Investment and other income, net (b)	349				341				351
Total property and casualty insurance	591				577				576
Annuity	380				368				331
Run-off long-term care and life (c)	6				2				14
Other (d)	(258		)		(181		)		(176		)
Total earnings before realized gains (losses) and income taxes	719				766				745
Realized gains (losses) on securities	5				19				(19		)
Realized gains (losses) on subsidiaries	—				2				(161		)
Total earnings before income taxes	$	724			$	787			$	565

(a) Includes special charges to increase asbestos and environmental (“A&E”) reserves of $89 million, $36 million and $67 million in 2017, 2016 and 2015, respectively. Also includes $18 million in favorable development related to the Neon exited lines recorded in connection with a reinsurance to close transaction in 2017 and a charge of $65 million related to Neon exited lines in 2016.

(b) Includes income of $32 million (before noncontrolling interest) from the sale of an apartment property in 2016 and $66 million (before noncontrolling interest) from the sales of a hotel and an apartment property in 2015.

(c) AFG sold substantially all of its run-off long-term care insurance business in December 2015.

(d) Primarily holding company interest and expenses, including losses on retirement of debt of $51 million in 2017 and $4 million in 2015, and special charges to increase A&E reserves related to AFG’s former railroad and manufacturing operations ($24 million in 2017, $5 million in 2016 and $12 million in 2015).

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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=68060357&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=68060357&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=68060357&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=68060357&loc=d3e8736-108599

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- References

No definition available.

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