XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.21.2

Segments of Operations (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Segment Reporting [Abstract] |
Segment Reporting Information, by Segment | The following tables (in millions) show AFG’s revenues and earnings (loss) from continuing operations before income taxes by segment and sub-segment.
| Three months ended September 30, |  | Nine months ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Revenues |  |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Premiums earned: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 700 |  |  | $ | 574 |  |  | $ | 1,547 |  |  | $ | 1,350 |
Specialty casualty | 613 |  |  | 560 |  |  | 1,772 |  |  | 1,663 |
Specialty financial | 163 |  |  | 155 |  |  | 477 |  |  | 455 |
Other specialty | 53 |  |  | 50 |  |  | 156 |  |  | 132 |
Other lines (a) | — |  |  | 42 |  |  | — |  |  | 174 |
Total premiums earned | 1,529 |  |  | 1,381 |  |  | 3,952 |  |  | 3,774 |
Net investment income (b) | 165 |  |  | 112 |  |  | 467 |  |  | 277 |
Other income | 4 |  |  | — |  |  | 9 |  |  | 8 |
Total property and casualty insurance | 1,698 |  |  | 1,493 |  |  | 4,428 |  |  | 4,059 |
Other | 73 |  |  | 60 |  |  | 208 |  |  | 195 |
Income on real estate-related entities (c) | — |  |  | 10 |  |  | 51 |  |  | 29 |
Total revenues before realized gains (losses) | 1,771 |  |  | 1,563 |  |  | 4,687 |  |  | 4,283 |
Realized gains (losses) on securities | (17) |  |  | 23 |  |  | 103 |  |  | (197) |
Realized gains (losses) on subsidiaries | — |  |  | (30) |  |  | 4 |  |  | (30) |
Total revenues | $ | 1,754 |  |  | $ | 1,556 |  |  | $ | 4,794 |  |  | $ | 4,056 |
(a)Represents premiums earned in the Neon exited lines (which were sold in December 2020) during the third quarter and first nine months of 2020. (b)Includes income of $1 million for the third quarter of 2020 and a loss of $5 million in the Neon exited lines in the first nine months of 2020 (primarily from the change in fair value of equity securities). (c)Represents investment income from real estate-related entities acquired from the discontinued annuity operations while they were held by those operations. Subsequent to the sale of the annuity group, this income is included in the segment of the acquirer.
| Three months ended September 30, |  | Nine months ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Earnings (Loss) From Continuing Operations Before Income Taxes |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Underwriting: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 45 |  |  | $ | 47 |  |  | $ | 163 |  |  | $ | 107 |
Specialty casualty | 110 |  |  | 53 |  |  | 237 |  |  | 132 |
Specialty financial | 26 |  |  | 13 |  |  | 72 |  |  | 30 |
Other specialty | (12) |  |  | (9) |  |  | (16) |  |  | (22) |
Other lines (a) | (1) |  |  | (86) |  |  | (2) |  |  | (133) |
Total underwriting | 168 |  |  | 18 |  |  | 454 |  |  | 114 |
Investment and other income, net (b) | 161 |  |  | 100 |  |  | 451 |  |  | 249 |
Total property and casualty insurance | 329 |  |  | 118 |  |  | 905 |  |  | 363 |
Other (c) | (45) |  |  | (74) |  |  | (173) |  |  | (152) |
Income on real estate-related entities (d) | — |  |  | 3 |  |  | 51 |  |  | 11 |
Total earnings from continuing operations before realized gains (losses) and income taxes | 284 |  |  | 47 |  |  | 783 |  |  | 222 |
Realized gains (losses) on securities | (17) |  |  | 23 |  |  | 103 |  |  | (197) |
Realized gains (losses) on subsidiaries | — |  |  | (30) |  |  | 4 |  |  | (30) |
Total earnings (loss) from continuing operations before income taxes | $ | 267 |  |  | $ | 40 |  |  | $ | 890 |  |  | $ | (5) |
(a)Includes an underwriting loss of $38 million in the third quarter of 2020 and $82 million in the first nine months of 2020 in the Neon exited lines. Also includes a special charge of $47 million in the third quarter of 2020 to increase asbestos and environmental (“A&E”) reserves. (b)Includes $2 million and $10 million in the third quarter and first nine months of 2020, respectively, in net expenses from the Neon exited lines, before noncontrolling interest. (c)Includes holding company interest and expenses, including a special charge of $21 million in the third quarter of 2020 to increase A&E reserves related to AFG’s former railroad and manufacturing operations. (d)Represents investment income (net of DAC) from real estate-related entities acquired from the discontinued annuity operations while they were held by those operations. Subsequent to the sale of the annuity group, this income is included in the segment of the acquirer.

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration