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v3.22.2.2

Segments of Operations (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Segment reporting information, by segment | The following tables (in millions) show AFG’s revenues and earnings from continuing operations before income taxes by segment and sub-segment.
| Three months ended September 30, |  | Nine months ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Revenues |  |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Premiums earned: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 857 |  |  | $ | 700 |  |  | $ | 1,805 |  |  | $ | 1,547 |
Specialty casualty | 677 |  |  | 613 |  |  | 1,973 |  |  | 1,772 |
Specialty financial | 171 |  |  | 163 |  |  | 505 |  |  | 477 |
Other specialty | 62 |  |  | 53 |  |  | 179 |  |  | 156 |
Total premiums earned | 1,767 |  |  | 1,529 |  |  | 4,462 |  |  | 3,952 |
Net investment income | 145 |  |  | 165 |  |  | 524 |  |  | 467 |
Other income | 2 |  |  | 4 |  |  | 12 |  |  | 9 |
Total property and casualty insurance | 1,914 |  |  | 1,698 |  |  | 4,998 |  |  | 4,428 |
Other | 105 |  |  | 73 |  |  | 256 |  |  | 208 |
Real estate-related entities (*) | — |  |  | — |  |  | — |  |  | 51 |
Total revenues before realized gains (losses) | 2,019 |  |  | 1,771 |  |  | 5,254 |  |  | 4,687 |
Realized gains (losses) on securities | (35) |  |  | (17) |  |  | (143) |  |  | 103 |
Realized gain on subsidiaries | — |  |  | — |  |  | — |  |  | 4 |
Total revenues | $ | 1,984 |  |  | $ | 1,754 |  |  | $ | 5,111 |  |  | $ | 4,794 |
(*)Represents investment income from the real estate and real estate-related entities acquired from AFG’s discontinued annuity operations while they were held by the annuity operations. Subsequent to the sale of the annuity operations, income from these investments is included in the segment of the acquirer.
| Three months ended September 30, |  | Nine months ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Earnings From Continuing Operations Before Income Taxes |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Underwriting: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 39 |  |  | $ | 45 |  |  | $ | 140 |  |  | $ | 163 |
Specialty casualty | 118 |  |  | 110 |  |  | 372 |  |  | 237 |
Specialty financial | 15 |  |  | 26 |  |  | 81 |  |  | 72 |
Other specialty | (14) |  |  | (12) |  |  | (30) |  |  | (16) |
Other lines | (3) |  |  | (1) |  |  | (5) |  |  | (2) |
Total underwriting | 155 |  |  | 168 |  |  | 558 |  |  | 454 |
Investment and other income, net | 134 |  |  | 161 |  |  | 498 |  |  | 451 |
Total property and casualty insurance | 289 |  |  | 329 |  |  | 1,056 |  |  | 905 |
Other (a) | (44) |  |  | (45) |  |  | (136) |  |  | (173) |
Real estate-related entities (b) | — |  |  | — |  |  | — |  |  | 51 |
Total earnings from continuing operations before realized gains (losses) and income taxes | 245 |  |  | 284 |  |  | 920 |  |  | 783 |
Realized gains (losses) on securities | (35) |  |  | (17) |  |  | (143) |  |  | 103 |
Realized gain on subsidiaries | — |  |  | — |  |  | — |  |  | 4 |
Total earnings from continuing operations before income taxes | $ | 210 |  |  | $ | 267 |  |  | $ | 777 |  |  | $ | 890 |
(a)Includes holding company interest and expenses, including a gain of $1 million and a loss of $10 million on retirement of debt in the third quarter and first nine months of 2022, respectively. (b)Represents investment income from the real estate and real estate-related entities acquired from AFG’s discontinued annuity operations while they were held by the annuity operations. Subsequent to the sale of the annuity operations, income from these investments is included in the segment of the acquirer.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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