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Segments of Operations (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment Reporting Information, by Segment | The following tables (in millions) show AFG’s assets, revenues and earnings from continuing operations before income taxes by segment and sub-segment.
| 2023 |  | 2022
Assets |  |  |
Property and casualty insurance (*) | $ | 24,475 |  |  | $ | 22,225 |
Other | 5,312 |  |  | 6,606 |
Total assets | $ | 29,787 |  |  | $ | 28,831 |
(*)Not allocable to sub-segments.
| 2023 |  | 2022 |  | 2021
Revenues |  |  |  |  |
Property and casualty insurance: |  |  |  |  |
Premiums earned: |  |  |  |  |
Specialty |  |  |  |  |
Property and transportation | $ | 2,519 |  |  | $ | 2,487 |  |  | $ | 2,144 |
Specialty casualty | 2,886 |  |  | 2,659 |  |  | 2,408 |
Specialty financial | 867 |  |  | 698 |  |  | 642 |
Other specialty | 259 |  |  | 241 |  |  | 210 |
Total premiums earned | 6,531 |  |  | 6,085 |  |  | 5,404 |
Net investment income | 729 |  |  | 683 |  |  | 663 |
Other income | 16 |  |  | 12 |  |  | 27 |
Total property and casualty insurance | 7,276 |  |  | 6,780 |  |  | 6,094 |
Other | 591 |  |  | 376 |  |  | 293 |
Real estate-related entities (*) | — |  |  | — |  |  | 51 |
Total revenues before realized gains (losses) | 7,867 |  |  | 7,156 |  |  | 6,438 |
Realized gains (losses) on securities | (36) |  |  | (116) |  |  | 110 |
Realized gains (losses) on subsidiaries | (4) |  |  | — |  |  | 4 |
Total revenues | $ | 7,827 |  |  | $ | 7,040 |  |  | $ | 6,552 |
(*)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.
| 2023 |  | 2022 |  | 2021
Earnings from Continuing Operations Before Income Taxes |  |  |  |  |
Property and casualty insurance: |  |  |  |  |
Underwriting: |  |  |  |  |
Specialty |  |  |  |  |
Property and transportation | $ | 184 |  |  | $ | 208 |  |  | $ | 279 |
Specialty casualty | 375 |  |  | 500 |  |  | 377 |
Specialty financial | 110 |  |  | 114 |  |  | 96 |
Other specialty | (36) |  |  | (42) |  |  | (15) |
Other lines | (2) |  |  | (4) |  |  | (4) |
Total underwriting | 631 |  |  | 776 |  |  | 733 |
Investment and other income, net | 673 |  |  | 643 |  |  | 657 |
Total property and casualty insurance | 1,304 |  |  | 1,419 |  |  | 1,390 |
Other (a) | (191) |  |  | (180) |  |  | (220) |
Real estate-related entities (b) | — |  |  | — |  |  | 51 |
Total earnings from continuing operations before realized gains (losses) and income taxes | 1,113 |  |  | 1,239 |  |  | 1,221 |
Realized gains (losses) on securities | (36) |  |  | (116) |  |  | 110 |
Realized gains (losses) on subsidiaries | (4) |  |  | — |  |  | 4 |
Total earnings from continuing operations before income taxes | $ | 1,073 |  |  | $ | 1,123 |  |  | $ | 1,335 |
(a)Includes holding company interest and expenses, including a gain on retirement of debt of $1 million in 2023 and a loss on retirement of debt of $9 million in 2022, and a $15 million special charge in 2023 to increase asbestos and environmental (“A&E”) reserves related to AFG’s former railroad and manufacturing operations. (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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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