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Segments of Operations (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Segment reporting information, by segment | The following tables (in millions) show AFG’s revenues and earnings before income taxes by segment and sub-segment.
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues |  |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Premiums earned: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 543 |  |  | $ | 534 |  |  | $ | 1,056 |  |  | $ | 1,009 |
Specialty casualty | 739 |  |  | 711 |  |  | 1,469 |  |  | 1,415 |
Specialty financial | 241 |  |  | 195 |  |  | 484 |  |  | 391 |
Other specialty | 62 |  |  | 67 |  |  | 122 |  |  | 129 |
Total premiums earned | 1,585 |  |  | 1,507 |  |  | 3,131 |  |  | 2,944 |
Net investment income | 189 |  |  | 191 |  |  | 394 |  |  | 398 |
Other income | 2 |  |  | 3 |  |  | 4 |  |  | 8 |
Total property and casualty insurance | 1,776 |  |  | 1,701 |  |  | 3,529 |  |  | 3,350 |
Other | 126 |  |  | 141 |  |  | 265 |  |  | 278 |
Total revenues before realized gains (losses) | 1,902 |  |  | 1,842 |  |  | 3,794 |  |  | 3,628 |
Realized gains (losses) on securities | (2) |  |  | (2) |  |  | 12 |  |  | (48) |
Total revenues | $ | 1,900 |  |  | $ | 1,840 |  |  | $ | 3,806 |  |  | $ | 3,580 |
Earnings Before Income Taxes |  |  |  |  |  |  |
Property and casualty insurance: |  |  |  |  |  |  |
Underwriting: |  |  |  |  |  |  |
Specialty |  |  |  |  |  |  |
Property and transportation | $ | 39 |  |  | $ | 32 |  |  | $ | 95 |  |  | $ | 75 |
Specialty casualty | 108 |  |  | 95 |  |  | 182 |  |  | 183 |
Specialty financial | 25 |  |  | 10 |  |  | 58 |  |  | 36 |
Other specialty | (21) |  |  | (14) |  |  | (30) |  |  | (16) |
Other lines | (1) |  |  | 1 |  |  | (2) |  |  | — |
Total underwriting | 150 |  |  | 124 |  |  | 303 |  |  | 278 |
Investment and other income, net | 169 |  |  | 175 |  |  | 356 |  |  | 371 |
Total property and casualty insurance | 319 |  |  | 299 |  |  | 659 |  |  | 649 |
Other (*) | (46) |  |  | (42) |  |  | (96) |  |  | (82) |
Total earnings before realized gains (losses) and income taxes | 273 |  |  | 257 |  |  | 563 |  |  | 567 |
Realized gains (losses) on securities | (2) |  |  | (2) |  |  | 12 |  |  | (48) |
Total earnings before income taxes | $ | 271 |  |  | $ | 255 |  |  | $ | 575 |  |  | $ | 519 |
(*)Includes holding company interest and expenses, which includes a loss of $1 million and a gain of $1 million on retirement of debt in the second quarter and first six months of 2023, respectively.

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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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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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