Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Schedule of long-term debt instruments

The carrying value of long-term debt consisted of the following (in millions):

	September 30, 2014		December 31, 2013
Direct Senior Obligations of AFG:
9-7/8% Senior Notes due June 2019	$	350	$	350
6-3/8% Senior Notes due June 2042	230		230
5-3/4% Senior Notes due August 2042	125		125
7% Senior Notes due September 2050	132		132
Other	3		3
	840		840
Direct Subordinated Obligations of AFG:
6-1/4% Subordinated Debentures due September 2054	150		—
Subsidiaries:
Notes payable secured by real estate due 2014 through 2016	60		61
National Interstate bank credit facility	12		12
	72		73
	$	1,062	$	913

Summary of secured and unsecured long-term debt

As shown below (in millions), the majority of AFG’s long-term debt is unsecured obligations of the holding company and its subsidiaries:

	September 30, 2014		December 31, 2013
Senior unsecured obligations	$	852	$	852
Subordinated unsecured obligations	150		—
Obligations secured by real estate	60		61
	$	1,062	$	913