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Segments of Operations (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment reporting information, by segment

The following tables (in millions) show AFG’s assets, revenues and earnings before income taxes by segment and sub-segment.

			March 31, 2025						December 31, 2024
Assets
Property and casualty insurance (*)			$	25,704					$	25,913
Other			4,590						4,923
Total assets			$	30,294					$	30,836

(*)Not allocable to sub-segments.

									Three months ended March 31,
															2025						2024
Revenues
Property and casualty insurance:
Net earned premiums:
Specialty
Property and transportation															$	500					$	520
Specialty casualty															794						783
Specialty financial															286						243
Total net earned premiums															1,580						1,546
Net investment income															170						205
Other income															3						2
Total property and casualty insurance															1,753						1,753
Other															100						139
Total revenues before realized gains															1,853						1,892
Realized gains on securities															3						14
Total revenues															$	1,856					$	1,906
Earnings Before Income Taxes
Property and casualty insurance:
Underwriting:
Specialty
Property and transportation															$	37					$	60
Specialty casualty															20						61
Specialty financial															37						33
Other lines															—						(1)
Total underwriting (a)															94						153
Investment and other income, net (b)															152						187
Total property and casualty insurance															246						340
Other (c)															(52)						(50)
Total earnings before realized gains and income taxes															194						290
Realized gains on securities															3						14
Total earnings before income taxes															$	197					$	304

(a)Significant segment expenses, which are losses and loss adjustment expenses and commissions and other underwriting expenses, are shown in the table below by sub-segment.

(b)Includes the amortization of intangibles and other miscellaneous expenses.

(c)Includes the expenses of the managed investment entities, interest charges on borrowed money, salaries, depreciation and other general expenses.

The following table shows the components of underwriting profit, including significant segment expenses, for the Property and casualty insurance segment (in millions):

									Three months ended March 31,
															2025						2024
Property and casualty insurance:
Specialty:
Property and transportation:
Net earned premiums															$	500					$	520
Losses and loss adjustment expenses															311						306
Commissions and other underwriting expenses															152						154
Underwriting profit															$	37					$	60
Specialty casualty:
Net earned premiums															$	794					$	783
Losses and loss adjustment expenses															536						502
Commissions and other underwriting expenses															238						220
Underwriting profit															$	20					$	61
Specialty financial:
Net earned premiums															$	286					$	243
Losses and loss adjustment expenses															118						98
Commissions and other underwriting expenses															131						112
Underwriting profit															$	37					$	33
Other lines:
Losses and loss adjustment expenses															$	—					$	1
Underwriting profit (loss)															$	—					$	(1)
Total property and casualty insurance segment:
Net earned premiums															$	1,580					$	1,546
Losses and loss adjustment expenses															965						907
Commissions and other underwriting expenses															521						486
Underwriting profit															$	94					$	153

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
-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

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X

- References

No definition available.

+ Details

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