Segments of Operations (Tables)

6 Months Ended

Jun. 30, 2014

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,
	2014		2013			2014		2013
Revenues
Property and casualty insurance:
Premiums earned:
Specialty
Property and transportation	$	324	$	301		$	625	$	594
Specialty casualty	467		277			780		536
Specialty financial	116		113			233		229
Other specialty	24		18			47		37
Total premiums earned	931		709			1,685		1,396
Net investment income	76		65			143		131
Other income	2		6			4		9
Total property and casualty insurance	1,009		780			1,832		1,536
Annuity:
Net investment income	289		257			564		505
Other income	19		15			37		29
Total annuity	308		272			601		534
Run-off long-term care and life	48		47			99		97
Other	15		(1		)	40		22
Total revenues before realized gains	1,380		1,098			2,572		2,189
Realized gains on securities	12		41			31		98
Total revenues	$	1,392	$	1,139		$	2,603	$	2,287

Earnings Before Income Taxes
Property and casualty insurance:
Underwriting:
Specialty
Property and transportation	$	(18	)	$	(31	)	$	(12	)	$	(21	)
Specialty casualty	30			32			68			51
Specialty financial	15			15			25			28
Other specialty	2			5			7			11
Other lines	—			(2		)	(1		)	(7		)
Total underwriting	29			19			87			62
Investment and other income, net	62			60			116			116
Total property and casualty insurance	91			79			203			178
Annuity (a)	84			77			157			153
Run-off long-term care and life	(2		)	(2		)	(4		)	(3		)
Other (b)	(55		)	(69		)	(96		)	(125		)
Total earnings before realized gains and income taxes	118			85			260			203
Realized gains on securities	12			41			31			98
Total earnings before income taxes	$	130		$	126		$	291		$	301

(a) 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.

(b) Includes holding company expenses and earnings (losses) of managed investment entities attributable to noncontrolling interests (losses of $18 million and $31 million for the second quarter and $18 million and $42 million for the first six months of 2014 and 2013, respectively).