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Insurance (Tables)

12 Months Ended

Dec. 31, 2017

Insurance [Abstract]

Reconciliation of beginning and ending liability for unpaid losses and loss adjustment expenses

The following table provides an analysis of changes in the liability for losses and loss adjustment expenses over the past three years (in millions):

	2017				2016				2015
Balance at beginning of period	$	8,563			$	8,127			$	7,872
Less reinsurance recoverables, net of allowance	2,302				2,201				2,227
Net liability at beginning of period	6,261				5,926				5,645
Provision for losses and LAE occurring in the current year	3,019				2,730				2,662
Net increase (decrease) in the provision for claims of prior years:
Special A&E charges	89				36				67
Neon exited lines charge	(18		)		57				—
Other	(135		)		(61		)		(34		)
Total losses and LAE incurred	2,955				2,762				2,695
Payments for losses and LAE of:
Current year	(942		)		(841		)		(828		)
Prior years	(1,586		)		(1,512		)		(1,575		)
Total payments	(2,528		)		(2,353		)		(2,403		)
Reserves of businesses disposed (*)	—				(40		)		—
Foreign currency translation and other	33				(34		)		(11		)
Net liability at end of period	6,721				6,261				5,926
Add back reinsurance recoverables, net of allowance	2,957				2,302				2,201
Gross unpaid losses and LAE included in the balance sheet	$	9,678			$	8,563			$	8,127

(*) Reflects the 2016 reinsurance to close transactions at Neon (discussed below).

Short-duration insurance contracts, reconciliation of claims development to liability

A reconciliation of incurred and paid claims development information to the aggregate carrying amount of the liability for unpaid losses and LAE, with separate disclosure of reinsurance recoverables on unpaid claims is shown below (in millions):

	2017
Unpaid losses and allocated LAE, net of reinsurance:
Specialty
Property and transportation	$	1,069
Specialty casualty	3,630
Specialty financial	221
Other specialty	278
Total Specialty (excluding foreign reserves)	5,198
Other reserves
Reserves for foreign operations:
Neon Lloyd’s business	480
Other subsidiaries	269
A&E reserves	403
Unallocated LAE	326
Other	45
Total other reserves	1,523
Total reserves, net of reinsurance	6,721
Add back reinsurance recoverables, net of allowance	2,957
Gross unpaid losses and LAE included in the balance sheet	$	9,678

Short-duration insurance contracts, claims development

The following claims development tables and associated disclosures related to short-duration insurance contracts are prepared by sub-segment within the property and casualty insurance business for the most recent 10 accident years. AFG determines its claim counts at the claimant or policy feature level depending on the particular facts and circumstances of the underlying claim. While the methodology is generally consistent within each sub-segment, there are minor differences between and within the sub-segments. The methods used to summarize claim counts have not changed significantly over the time periods reported in the tables below.

Property and transportation
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	923			$	871			$	852			$	853			$	856			$	854			$	855			$	856			$	854			$	854			$	1			157,164
2009						526				506				523				516				511				511				508				508				508				3				140,532
2010										702				662				668				676				679				679				683				680				6				140,634
2011														830				816				831				845				856				868				865				10				140,418
2012																		890				884				897				909				922				918				19				146,630
2013																						911				898				902				908				910				22				142,249
2014																										868				852				841				843				38				136,882
2015																														842				804				798				54				135,029
2016																																		771				740				110				122,112
2017																																						913				273				128,455
																																		Total				$	8,029

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (a)
2008		$	352			$	706			$	761			$	799			$	824			$	835			$	846			$	846			$	847			$	848			99.3	%
2009						229				348				413				456				479				493				497				499				502				98.8	%
2010										328				505				556				618				649				660				665				669				98.4	%
2011														373				679				742				787				821				840				847				97.9	%
2012																		582				725				793				841				868				883				96.2	%
2013																						449				721				784				831				862				94.7	%
2014																										337				646				711				765				90.7	%
2015																														367				595				683				85.6	%
2016																																		299				534				72.2	%
2017																																						387				42.4	%
																																		Total				$	6,980
																		Unpaid losses and LAE — years 2008 through 2017																				1,049
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																20
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	1,069

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		45.9	%		29.9	%		8.4	%		6.3	%		3.7	%		1.9	%		0.9	%		0.3	%		0.4	%		0.1	%
Cumulative		45.9	%		75.8	%		84.2	%		90.5	%		94.2	%		96.1	%		97.0	%		97.3	%		97.7	%		97.8	%

(a) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Specialty casualty
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	905			$	891			$	874			$	860			$	871			$	856			$	855			$	849			$	855			$	854			$	41			59,991
2009						864				867				845				826				816				811				812				807				803				48				53,192
2010										847				863				864				842				856				846				845				842				65				52,855
2011														831				831				819				828				814				808				806				73				50,851
2012																		874				865				859				859				855				849				104				49,836
2013																						938				921				915				910				913				132				49,412
2014																										1,011				984				984				982				202				52,167
2015																														1,057				1,023				1,022				268				52,846
2016																																		1,105				1,098				426				50,652
2017																																						1,186				715				46,399
																																		Total				$	9,355

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (a)
2008		$	162			$	355			$	490			$	588			$	653			$	702			$	727			$	751			$	768			$	782			91.6	%
2009						160				366				494				575				636				673				698				713				722				89.9	%
2010										179				393				539				623				676				712				734				748				88.8	%
2011														165				369				506				595				643				674				694				86.1	%
2012																		163				368				495				596				658				696				82.0	%
2013																						171				377				530				638				698				76.5	%
2014																										182				398				556				659				67.1	%
2015																														170				398				560				54.8	%
2016																																		181				404				36.8	%
2017																																						192				16.2	%
																																		Total				$	6,155
																		Unpaid losses and LAE — years 2008 through 2017																				3,200
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																430
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	3,630

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		18.6	%		23.4	%		16.2	%		11.0	%		6.9	%		4.6	%		2.8	%		2.1	%		1.6	%		1.6	%
Cumulative		18.6	%		42.0	%		58.2	%		69.2	%		76.1	%		80.7	%		83.5	%		85.6	%		87.2	%		88.8	%

(a) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Specialty financial
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	190			$	207			$	212			$	209			$	203			$	199			$	198			$	197			$	198			$	199			$	1			27,292
2009						193				193				187				184				188				186				187				186				185				—				27,441
2010										139				146				133				133				135				133				130				128				2				21,929
2011														140				158				157				155				148				146				144				11				16,374
2012																		164				163				151				139				137				135				11				21,050
2013																						141				145				137				131				127				9				28,279
2014																										146				157				156				154				16				28,983
2015																														156				159				157				21				37,125
2016																																		179				183				26				43,484
2017																																						212				84				36,116
																																		Total				$	1,624

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (a)
2008		$	103			$	153			$	185			$	189			$	189			$	191			$	193			$	194			$	194			$	197			99.0	%
2009						112				145				157				166				171				182				185				186				186				100.5	%
2010										61				93				104				122				133				131				128				127				99.2	%
2011														59				113				116				124				131				132				133				92.4	%
2012																		71				104				109				117				121				126				93.3	%
2013																						70				100				107				114				117				92.1	%
2014																										62				108				125				128				83.1	%
2015																														72				109				129				82.2	%
2016																																		87				141				77.0	%
2017																																						119				56.1	%
																																		Total				$	1,403
																		Unpaid losses and LAE — years 2008 through 2017																				221
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																—
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	221

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		49.8	%		26.3	%		8.3	%		5.7	%		3.6	%		2.0	%		0.2	%		0.1	%		—	%		1.5	%
Cumulative		49.8	%		76.1	%		84.4	%		90.1	%		93.7	%		95.7	%		95.9	%		96.0	%		96.0	%		97.5	%

(a) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Other specialty
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims (a)
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	49			$	49			$	49			$	49			$	48			$	46			$	45			$	45			$	44			$	43			$	3			—
2009						41				41				41				40				37				37				36				38				33				7				—
2010										36				39				40				39				40				40				40				40				2				—
2011														39				43				42				43				43				44				44				4				—
2012																		42				40				39				40				41				39				8				—
2013																						46				47				46				47				50				5				—
2014																										58				57				59				59				16				—
2015																														59				60				63				20				—
2016																																		61				61				31				—
2017																																						63				47				—
																																		Total				$	495

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (b)
2008		$	10			$	16			$	23			$	31			$	35			$	37			$	37			$	37			$	38			$	39			90.7	%
2009						8				12				15				19				22				22				24				26				25				75.8	%
2010										8				14				21				24				27				33				35				36				90.0	%
2011														12				20				25				28				34				36				37				84.1	%
2012																		8				17				21				25				28				30				76.9	%
2013																						7				16				22				34				37				74.0	%
2014																										13				21				30				36				61.0	%
2015																														10				26				31				49.2	%
2016																																		9				19				31.1	%
2017																																						10				15.9	%
																																		Total				$	300
																		Unpaid losses and LAE — years 2008 through 2017																				195
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																83
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	278

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		19.8	%		17.3	%		12.5	%		12.8	%		8.9	%		5.9	%		3.3	%		2.9	%		(0.4	%)		2.3	%
Cumulative		19.8	%		37.1	%		49.6	%		62.4	%		71.3	%		77.2	%		80.5	%		83.4	%		83.0	%		85.3	%

(a) The amounts shown in Other specialty represent business assumed by AFG’s internal reinsurance program from the operations that make up AFG’s other Specialty property and casualty insurance sub-segments. Accordingly, the liability for incurred claims and allocated LAE represents additional reserves held on claims counted in the tables provided for the other sub-segments (above).

(b) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Total Specialty Group
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	2,067			$	2,018			$	1,987			$	1,971			$	1,978			$	1,955			$	1,953			$	1,947			$	1,951			$	1,950			$	46			244,447
2009						1,624				1,607				1,596				1,566				1,552				1,545				1,543				1,539				1,529				58				221,165
2010										1,724				1,710				1,705				1,690				1,710				1,698				1,698				1,690				75				215,418
2011														1,840				1,848				1,849				1,871				1,861				1,866				1,859				98				207,643
2012																		1,970				1,952				1,946				1,947				1,955				1,941				142				217,516
2013																						2,036				2,011				2,000				1,996				2,000				168				219,940
2014																										2,083				2,050				2,040				2,038				272				218,032
2015																														2,114				2,046				2,040				363				225,000
2016																																		2,116				2,082				593				216,248
2017																																						2,374				1,119				210,970
																																		Total				$	19,503

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (a)
2008		$	627			$	1,230			$	1,459			$	1,607			$	1,701			$	1,765			$	1,803			$	1,828			$	1,847			$	1,866			95.7	%
2009						509				871				1,079				1,216				1,308				1,370				1,404				1,424				1,435				93.9	%
2010										576				1,005				1,220				1,387				1,485				1,536				1,562				1,580				93.5	%
2011														609				1,181				1,389				1,534				1,629				1,682				1,711				92.0	%
2012																		824				1,214				1,418				1,579				1,675				1,735				89.4	%
2013																						697				1,214				1,443				1,617				1,714				85.7	%
2014																										594				1,173				1,422				1,588				77.9	%
2015																														619				1,128				1,403				68.8	%
2016																																		576				1,098				52.7	%
2017																																						708				29.8	%
																																		Total				$	14,838
																		Unpaid losses and LAE — years 2008 through 2017																				4,665
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																533
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	5,198

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		32.7	%		26.1	%		12.1	%		8.5	%		5.3	%		3.3	%		1.8	%		1.2	%		0.8	%		1.0	%
Cumulative		32.7	%		58.8	%		70.9	%		79.4	%		84.7	%		88.0	%		89.8	%		91.0	%		91.8	%		92.8	%

(a) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Short-duration insurance contracts, schedule of historical claims duration

The following claims development tables and associated disclosures related to short-duration insurance contracts are prepared by sub-segment within the property and casualty insurance business for the most recent 10 accident years. AFG determines its claim counts at the claimant or policy feature level depending on the particular facts and circumstances of the underlying claim. While the methodology is generally consistent within each sub-segment, there are minor differences between and within the sub-segments. The methods used to summarize claim counts have not changed significantly over the time periods reported in the tables below.

Property and transportation
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	923			$	871			$	852			$	853			$	856			$	854			$	855			$	856			$	854			$	854			$	1			157,164
2009						526				506				523				516				511				511				508				508				508				3				140,532
2010										702				662				668				676				679				679				683				680				6				140,634
2011														830				816				831				845				856				868				865				10				140,418
2012																		890				884				897				909				922				918				19				146,630
2013																						911				898				902				908				910				22				142,249
2014																										868				852				841				843				38				136,882
2015																														842				804				798				54				135,029
2016																																		771				740				110				122,112
2017																																						913				273				128,455
																																		Total				$	8,029

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (a)
2008		$	352			$	706			$	761			$	799			$	824			$	835			$	846			$	846			$	847			$	848			99.3	%
2009						229				348				413				456				479				493				497				499				502				98.8	%
2010										328				505				556				618				649				660				665				669				98.4	%
2011														373				679				742				787				821				840				847				97.9	%
2012																		582				725				793				841				868				883				96.2	%
2013																						449				721				784				831				862				94.7	%
2014																										337				646				711				765				90.7	%
2015																														367				595				683				85.6	%
2016																																		299				534				72.2	%
2017																																						387				42.4	%
																																		Total				$	6,980
																		Unpaid losses and LAE — years 2008 through 2017																				1,049
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																20
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	1,069

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		45.9	%		29.9	%		8.4	%		6.3	%		3.7	%		1.9	%		0.9	%		0.3	%		0.4	%		0.1	%
Cumulative		45.9	%		75.8	%		84.2	%		90.5	%		94.2	%		96.1	%		97.0	%		97.3	%		97.7	%		97.8	%

(a) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Specialty casualty
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	905			$	891			$	874			$	860			$	871			$	856			$	855			$	849			$	855			$	854			$	41			59,991
2009						864				867				845				826				816				811				812				807				803				48				53,192
2010										847				863				864				842				856				846				845				842				65				52,855
2011														831				831				819				828				814				808				806				73				50,851
2012																		874				865				859				859				855				849				104				49,836
2013																						938				921				915				910				913				132				49,412
2014																										1,011				984				984				982				202				52,167
2015																														1,057				1,023				1,022				268				52,846
2016																																		1,105				1,098				426				50,652
2017																																						1,186				715				46,399
																																		Total				$	9,355

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (a)
2008		$	162			$	355			$	490			$	588			$	653			$	702			$	727			$	751			$	768			$	782			91.6	%
2009						160				366				494				575				636				673				698				713				722				89.9	%
2010										179				393				539				623				676				712				734				748				88.8	%
2011														165				369				506				595				643				674				694				86.1	%
2012																		163				368				495				596				658				696				82.0	%
2013																						171				377				530				638				698				76.5	%
2014																										182				398				556				659				67.1	%
2015																														170				398				560				54.8	%
2016																																		181				404				36.8	%
2017																																						192				16.2	%
																																		Total				$	6,155
																		Unpaid losses and LAE — years 2008 through 2017																				3,200
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																430
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	3,630

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		18.6	%		23.4	%		16.2	%		11.0	%		6.9	%		4.6	%		2.8	%		2.1	%		1.6	%		1.6	%
Cumulative		18.6	%		42.0	%		58.2	%		69.2	%		76.1	%		80.7	%		83.5	%		85.6	%		87.2	%		88.8	%

(a) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Specialty financial
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	190			$	207			$	212			$	209			$	203			$	199			$	198			$	197			$	198			$	199			$	1			27,292
2009						193				193				187				184				188				186				187				186				185				—				27,441
2010										139				146				133				133				135				133				130				128				2				21,929
2011														140				158				157				155				148				146				144				11				16,374
2012																		164				163				151				139				137				135				11				21,050
2013																						141				145				137				131				127				9				28,279
2014																										146				157				156				154				16				28,983
2015																														156				159				157				21				37,125
2016																																		179				183				26				43,484
2017																																						212				84				36,116
																																		Total				$	1,624

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (a)
2008		$	103			$	153			$	185			$	189			$	189			$	191			$	193			$	194			$	194			$	197			99.0	%
2009						112				145				157				166				171				182				185				186				186				100.5	%
2010										61				93				104				122				133				131				128				127				99.2	%
2011														59				113				116				124				131				132				133				92.4	%
2012																		71				104				109				117				121				126				93.3	%
2013																						70				100				107				114				117				92.1	%
2014																										62				108				125				128				83.1	%
2015																														72				109				129				82.2	%
2016																																		87				141				77.0	%
2017																																						119				56.1	%
																																		Total				$	1,403
																		Unpaid losses and LAE — years 2008 through 2017																				221
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																—
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	221

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		49.8	%		26.3	%		8.3	%		5.7	%		3.6	%		2.0	%		0.2	%		0.1	%		—	%		1.5	%
Cumulative		49.8	%		76.1	%		84.4	%		90.1	%		93.7	%		95.7	%		95.9	%		96.0	%		96.0	%		97.5	%

(a) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Other specialty
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims (a)
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	49			$	49			$	49			$	49			$	48			$	46			$	45			$	45			$	44			$	43			$	3			—
2009						41				41				41				40				37				37				36				38				33				7				—
2010										36				39				40				39				40				40				40				40				2				—
2011														39				43				42				43				43				44				44				4				—
2012																		42				40				39				40				41				39				8				—
2013																						46				47				46				47				50				5				—
2014																										58				57				59				59				16				—
2015																														59				60				63				20				—
2016																																		61				61				31				—
2017																																						63				47				—
																																		Total				$	495

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (b)
2008		$	10			$	16			$	23			$	31			$	35			$	37			$	37			$	37			$	38			$	39			90.7	%
2009						8				12				15				19				22				22				24				26				25				75.8	%
2010										8				14				21				24				27				33				35				36				90.0	%
2011														12				20				25				28				34				36				37				84.1	%
2012																		8				17				21				25				28				30				76.9	%
2013																						7				16				22				34				37				74.0	%
2014																										13				21				30				36				61.0	%
2015																														10				26				31				49.2	%
2016																																		9				19				31.1	%
2017																																						10				15.9	%
																																		Total				$	300
																		Unpaid losses and LAE — years 2008 through 2017																				195
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																83
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	278

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		19.8	%		17.3	%		12.5	%		12.8	%		8.9	%		5.9	%		3.3	%		2.9	%		(0.4	%)		2.3	%
Cumulative		19.8	%		37.1	%		49.6	%		62.4	%		71.3	%		77.2	%		80.5	%		83.4	%		83.0	%		85.3	%

(a) The amounts shown in Other specialty represent business assumed by AFG’s internal reinsurance program from the operations that make up AFG’s other Specialty property and casualty insurance sub-segments. Accordingly, the liability for incurred claims and allocated LAE represents additional reserves held on claims counted in the tables provided for the other sub-segments (above).

(b) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Total Specialty Group
(Dollars in Millions)
		Incurred Claims and Allocated LAE, Net of Reinsurance																																								As of December 31, 2017
		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)																																								Total IBNR Plus Expected Development on Reported Claims				Cumulative Number of Reported Claims
Accident Year		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017
2008		$	2,067			$	2,018			$	1,987			$	1,971			$	1,978			$	1,955			$	1,953			$	1,947			$	1,951			$	1,950			$	46			244,447
2009						1,624				1,607				1,596				1,566				1,552				1,545				1,543				1,539				1,529				58				221,165
2010										1,724				1,710				1,705				1,690				1,710				1,698				1,698				1,690				75				215,418
2011														1,840				1,848				1,849				1,871				1,861				1,866				1,859				98				207,643
2012																		1,970				1,952				1,946				1,947				1,955				1,941				142				217,516
2013																						2,036				2,011				2,000				1,996				2,000				168				219,940
2014																										2,083				2,050				2,040				2,038				272				218,032
2015																														2,114				2,046				2,040				363				225,000
2016																																		2,116				2,082				593				216,248
2017																																						2,374				1,119				210,970
																																		Total				$	19,503

		Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year		For the Years Ended (2008–2016 is Supplementary Information and Unaudited)
		2008				2009				2010				2011				2012				2013				2014				2015				2016				2017				% (a)
2008		$	627			$	1,230			$	1,459			$	1,607			$	1,701			$	1,765			$	1,803			$	1,828			$	1,847			$	1,866			95.7	%
2009						509				871				1,079				1,216				1,308				1,370				1,404				1,424				1,435				93.9	%
2010										576				1,005				1,220				1,387				1,485				1,536				1,562				1,580				93.5	%
2011														609				1,181				1,389				1,534				1,629				1,682				1,711				92.0	%
2012																		824				1,214				1,418				1,579				1,675				1,735				89.4	%
2013																						697				1,214				1,443				1,617				1,714				85.7	%
2014																										594				1,173				1,422				1,588				77.9	%
2015																														619				1,128				1,403				68.8	%
2016																																		576				1,098				52.7	%
2017																																						708				29.8	%
																																		Total				$	14,838
																		Unpaid losses and LAE — years 2008 through 2017																				4,665
						Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																																533
						Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																																$	5,198

		Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
		Year 1			Year 2			Year 3			Year 4			Year 5			Year 6			Year 7			Year 8			Year 9			Year 10
Annual		32.7	%		26.1	%		12.1	%		8.5	%		5.3	%		3.3	%		1.8	%		1.2	%		0.8	%		1.0	%
Cumulative		32.7	%		58.8	%		70.9	%		79.4	%		84.7	%		88.0	%		89.8	%		91.0	%		91.8	%		92.8	%

(a) Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2017).

Statutory information

Net earnings and capital and surplus on a statutory basis for the insurance subsidiaries were as follows (in millions):

	Net Earnings												Capital and Surplus
	2017				2016				2015				2017				2016
Property and casualty companies	$	484			$	461			$	408			$	2,729			$	2,939
Life insurance companies	286				167				399				2,132				1,976

Reinsurance information

The following table shows (in millions) (i) amounts deducted from property and casualty written and earned premiums in connection with reinsurance ceded, (ii) written and earned premiums included in income for reinsurance assumed and (iii) reinsurance recoveries, which represent ceded losses and loss adjustment expenses.

	2017				2016				2015
Direct premiums written	$	6,310			$	5,858			$	5,713
Reinsurance assumed	192				123				119
Reinsurance ceded	(1,751		)		(1,595		)		(1,505		)
Net written premiums	$	4,751			$	4,386			$	4,327
Direct premiums earned	$	6,112			$	5,745			$	5,613
Reinsurance assumed	157				118				105
Reinsurance ceded	(1,690		)		(1,535		)		(1,494		)
Net earned premiums	$	4,579			$	4,328			$	4,224
Reinsurance recoveries	$	1,379			$	810			$	936

Schedule of reserve liabilities for annuity benefits accumulated

For certain products, the liability for “annuity benefits accumulated” includes reserves for excess benefits expected to be paid on future deaths and annuitizations (“EDAR”), guaranteed withdrawal benefits and accrued persistency and premium bonuses. The liabilities included in AFG’s Balance Sheet for these benefits, excluding the impact of unrealized gains on securities, were as follows at December 31 (in millions):

	2017				2016
Expected death and annuitization	$	228			$	223
Guaranteed withdrawal benefits	357				278
Accrued persistency and premium bonuses	3				6

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