Segments of Operations (Tables)

6 Months Ended

Jun. 30, 2013

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,
	2013			2012			2013		2012
Revenues
Property and casualty insurance:
Premiums earned:
Specialty
Property and transportation	$	301		$	290		$	594	$	553
Specialty casualty	277			236			536		456
Specialty financial	113			98			229		201
Other specialty	18			16			37		33
Total premiums earned	709			640			1,396		1,243
Net investment income	65			69			131		139
Other income	6			8			9		11
Total property and casualty insurance	780			717			1,536		1,393
Annuity:
Net investment income	257			245			505		473
Other income	15			12			29		25
Total annuity	272			257			534		498
Run-off long-term care and life	47			49			97		96
Medicare supplement and critical illness (a)	—			79			—		159
Other	(1		)	7			22		6
Total revenues before realized gains	1,098			1,109			2,189		2,152
Realized gains on securities	41			16			98		60
Realized losses on subsidiaries	—			(1		)	—		(1		)
Total revenues	$	1,139		$	1,124		$	2,287	$	2,211

Earnings Before Income Taxes
Property and casualty insurance:
Underwriting:
Specialty
Property and transportation	$	(31	)	$	6		$	(21	)	$	33
Specialty casualty	32			33			51			37
Specialty financial	15			11			28			27
Other specialty	5			2			11			3
Other lines, primarily A&E charges	(2		)	(7		)	(7		)	(7		)
Total underwriting	19			45			62			93
Investment and other income, net	60			60			116			115
Total property and casualty insurance	79			105			178			208
Annuity (b)	77			59			153			119
Run-off long-term care and life	(2		)	5			(3		)	6
Medicare supplement and critical illness (a)	—			12			—			18
Other (c)	(69		)	(60		)	(125		)	(128		)
Total earnings before realized gains and income taxes	85			121			203			223
Realized gains on securities	41			16			98			60
Realized losses on subsidiaries	—			(1		)	—			(1		)
Total earnings before income taxes	$	126		$	136		$	301		$	282

(a) Sold in August 2012.

(b) Includes a $5 million charge in the second quarter of 2013 to cover expected assessments from state guaranty funds related to the insolvency and liquidation of an unaffiliated life insurance company.

(c) Includes holding company expenses and losses of managed investment entities attributable to noncontrolling interest of $31 million and $18 million for the second quarter and $42 million and $46 million for the first six months of 2013 and 2012, respectively.