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Segment Reporting | 3 Months Ended
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Mar. 31, 2024
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) 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, capital management and business development costs for the acquisition and development of new business initiatives.
|  | Three Months Ended March 31, 2024 |  | Three Months Ended March 31, 2023
|  | Legacy Financial Guarantee Insurance |  | Specialty Property & Casualty Insurance |  | Insurance Distribution |  | Corporate & Other |  |  |  | Consoli-dated (2) |  | Legacy Financial Guarantee Insurance |  | Specialty Property & Casualty Insurance |  | Insurance Distribution |  | Corporate & Other |  |  |  | Consoli-dated (2)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net premiums earned |  | $ | 7 |  |  | $ | 26 |  |  |  |  |  |  |  |  | $ | 33 |  |  | $ | 7 |  |  | $ | 7 |  |  |  |  |  |  |  |  | $ | 14 |
Commission income |  |  |  |  |  | $ | 18 |  |  |  |  |  |  | 18 |  |  |  |  |  |  | $ | 14 |  |  |  |  |  |  | 14 |
Program fees |  |  |  | 3 |  |  |  |  |  |  |  |  | 3 |  |  |  |  | 1 |  |  |  |  |  |  |  |  | 1 |
Net investment income |  | 38 |  |  | 1 |  |  | — |  |  | $ | 2 |  |  |  |  | 42 |  |  | 31 |  |  | 1 |  |  | — |  |  | $ | 2 |  |  |  |  | 34 |
Net investment gains (losses), including impairments |  | 1 |  |  | — |  |  |  |  | — |  |  |  |  | 1 |  |  | (4) |  |  | — |  |  |  |  | — |  |  |  |  | (4) |
Net gains (losses) on derivative contracts |  | 2 |  |  |  |  |  |  | — |  |  |  |  | 2 |  |  | (3) |  |  |  |  |  |  | — |  |  |  |  | (4) |
Other (1) |  | 5 |  |  | — |  |  | — |  |  | — |  |  |  |  | 5 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  |  |  | 2 |
Total revenues (2) |  | 53 |  |  | 30 |  |  | 18 |  |  | 2 |  |  |  |  | 103 |  |  | 32 |  |  | 9 |  |  | 15 |  |  | 2 |  |  |  |  | 58 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Losses and loss adjustment expenses (benefit) |  | (21) |  |  | 19 |  |  |  |  |  |  |  |  | (1) |  |  | 13 |  |  | 5 |  |  |  |  |  |  |  |  | 18 |
Amortization of deferred acquisition costs, net |  | — |  |  | 4 |  |  |  |  |  |  |  |  | 4 |  |  | — |  |  | 1 |  |  |  |  |  |  |  |  | 1 |
Commission expenses |  |  |  |  |  | 10 |  |  |  |  |  |  | 10 |  |  |  |  |  |  | 8 |  |  |  |  |  |  | 8 |
General and administrative expenses (3) |  | 21 |  |  | 4 |  |  | 3 |  |  | 7 |  |  |  |  | 35 |  |  | 28 |  |  | 4 |  |  | 2 |  |  | 2 |  |  |  |  | 36 |
Depreciation expense (3) |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Intangible amortization |  | 11 |  |  |  |  | 1 |  |  |  |  |  |  | 12 |  |  | 6 |  |  |  |  | 1 |  |  |  |  |  |  | 7 |
Interest expense |  | 16 |  |  |  |  |  |  |  |  |  |  | 16 |  |  | 16 |  |  |  |  |  |  |  |  |  |  | 16 |
Total expenses (2) |  | 28 |  |  | 28 |  |  | 14 |  |  | 7 |  |  |  |  | 77 |  |  | 64 |  |  | 10 |  |  | 11 |  |  | 2 |  |  |  |  | 86 |
Pretax income (loss) |  | $ | 25 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | (5) |  |  |  |  | $ | 26 |  |  | $ | (32) |  |  | $ | (1) |  |  | $ | 4 |  |  | $ | — |  |  |  |  | $ | (29) |
Total assets (2) |  | $ | 7,454 |  |  | $ | 608 |  |  | $ | 156 |  |  | $ | 211 |  |  |  |  | $ | 8,429 |  |  | $ | 7,503 |  |  | $ | 349 |  |  | $ | 140 |  |  | $ | 227 |  |  |  |  | $ | 8,219 |
(1)Other revenues include the following line item on the Consolidated Statements of Total Comprehensive Income: Income (loss) on variable interest entities and other income. (2)Inter-segment revenues and inter-segment pre-tax income (loss) amounts are insignificant and are not presented separately. (3)The Consolidated Statements of Comprehensive Income presents the sum of these items as General & Administrative 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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