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Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | 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 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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