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Segment Reporting | 3 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
Segment Reporting Disclosure | 3. SEGMENT INFORMATION The Company reports its results of operations in three segments: Legacy Financial Guarantee Insurance, Specialty Property and Casualty Insurance and Insurance Distribution, separate from Corporate and Other, which is consistent with the manner in which the Company's chief operating decision maker ("CODM") reviews the business to assess performance and allocate resources. See Note 1. Background and Business Description for a description of each of the Company's business segments. The following tables summarize the components of the Company’s total revenues and expenses, pretax income (loss), net income (loss), net income (loss) attributable to common shareholders and total assets by reportable business segment. Information provided below for “Corporate and Other” primarily relates to the operations of AFG, which will include investment income on its investment portfolio and costs to maintain the operations of AFG, including public company reporting, and business development costs for the acquisition and development of new business initiatives.
|  | Legacy Financial Guarantee Insurance |  | Specialty Property & Casualty Insurance |  | Insurance Distribution |  | Corporate & Other |  |  |  | Consolidated (2)
Three Months Ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Net premiums earned |  | $ | 13 |  |  | $ | 1 |  |  |  |  |  |  |  |  | $ | 15 |
Net investment income |  | 5 |  |  | — |  |  |  |  | — |  |  |  |  | 5 |
Net gains on derivative contracts |  | 57 |  |  |  |  |  |  |  |  |  |  | 57 |
Commission income |  |  |  |  |  | $ | 9 |  |  |  |  |  |  | 9 |
Other revenues (1) |  | 34 |  |  | — |  |  | — |  |  | — |  |  |  |  | 34 |
Total revenues (2) |  | 109 |  |  | 2 |  |  | 9 |  |  | — |  |  |  |  | 119 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Loss and loss expenses |  | 23 |  |  | 1 |  |  |  |  |  |  |  |  | 24 |
Operating expenses (3) |  | 21 |  |  | 3 |  |  | 1 |  |  | 3 |  |  |  |  | 29 |
Sub-producer commissions (3) |  |  |  |  |  | 5 |  |  |  |  |  |  | 5 |
Depreciation expense (3) |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Intangible amortization |  | 14 |  |  |  |  | 1 |  |  |  |  |  |  | 14 |
Interest expense |  | 44 |  |  |  |  |  |  |  |  |  |  | 44 |
Total expenses (2) |  | 102 |  |  | 4 |  |  | 6 |  |  | 3 |  |  |  |  | 116 |
Pretax income (loss) |  | $ | 6 |  |  | $ | (2) |  |  | $ | 2 |  |  | $ | (3) |  |  |  |  | $ | 3 |
Total assets (2) |  | $ | 11,075 |  |  | $ | 191 |  |  | $ | 97 |  |  | $ | 168 |  |  |  |  | $ | 11,531 |
|  | Legacy Financial Guarantee Insurance |  | Specialty Property & Casualty Insurance |  | Insurance Distribution |  | Corporate & Other |  |  |  | Consolidated (2)
Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Net premiums earned |  | $ | 14 |  |  | $ | — |  |  |  |  |  |  |  |  | $ | 14 |
Net investment income |  | 49 |  |  | — |  |  |  |  | — |  |  |  |  | 49 |
Net gains on derivative contracts |  | 25 |  |  |  |  |  |  |  |  |  |  | 25 |
Commission income |  |  |  |  |  | $ | 7 |  |  |  |  |  |  | 7 |
Other revenues (1) |  | 29 |  |  | — |  |  | — |  |  | 4 |  |  |  |  | 33 |
Total revenues (2) |  | 118 |  |  | — |  |  | 7 |  |  | 4 |  |  |  |  | 129 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Loss and loss expenses |  | 8 |  |  | — |  |  |  |  |  |  |  |  | 8 |
Operating expenses (3) |  | 17 |  |  | 1 |  |  | 1 |  |  | 10 |  |  |  |  | 29 |
Sub-producer commissions (3) |  |  |  |  |  | 4 |  |  |  |  |  |  | 4 |
Depreciation expense (3) |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Intangible amortization |  | 19 |  |  |  |  | 1 |  |  |  |  |  |  | 19 |
Interest expense |  | 50 |  |  |  |  |  |  |  |  |  |  | 50 |
Total expenses |  | 94 |  |  | 1 |  |  | 5 |  |  | 10 |  |  |  |  | 110 |
Pretax income (loss) (2) |  | $ | 24 |  |  | $ | (1) |  |  | $ | 2 |  |  | $ | (6) |  |  |  |  | $ | 19 |
Total assets (2) |  | $ | 12,470 |  |  | $ | 108 |  |  | $ | 98 |  |  | $ | 165 |  |  |  |  | $ | 12,840 |
(1)Other revenues include the following line items on the Consolidated Statements of Total Comprehensive Income: Net investment gains (losses), including impairments, Net realized gains (losses) on extinguishment of debt, income (loss) on variable interest entities and other income (expense). (2)Inter-segment revenues and inter-segment pre-tax income (loss) amounts are insignificant and are not presented separately. Total assets noted in the Corporate and Other Column is net of AFG's investment in surplus notes issued by the Legacy Financial Guarantee Segment with fair values of $77 and $114 at March 31, 2022 and 2021. (3)The Consolidated Statements of Comprehensive Income presents the sum of these items as Operating Expenses.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -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 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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