Segments of Operations (Tables)

3 Months Ended

Mar. 31, 2015

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 March 31,
	2015			2014
Revenues
Property and casualty insurance:
Premiums earned:
Specialty
Property and transportation	$	313		$	301
Specialty casualty	490			313
Specialty financial	120			117
Other specialty	23			23
Total premiums earned	946			754
Net investment income	79			67
Other income	6			2
Total property and casualty insurance	1,031			823
Annuity:
Net investment income	292			275
Other income	24			18
Total annuity	316			293
Run-off long-term care and life	46			51
Other	44			25
Total revenues before realized gains (loss)	1,437			1,192
Realized gains on securities	19			19
Realized loss on subsidiaries	(162		)	—
Total revenues	$	1,294		$	1,211

	Three months ended March 31,
	2015			2014
Earnings Before Income Taxes
Property and casualty insurance:
Underwriting:
Specialty
Property and transportation	$	7		$	6
Specialty casualty	28			38
Specialty financial	22			10
Other specialty	3			5
Other lines	—			(1		)
Total underwriting	60			58
Investment and other income, net	73			54
Total property and casualty insurance	133			112
Annuity	75			73
Run-off long-term care and life	4			(2		)
Other (*)	(39		)	(41		)
Total earnings before realized gains (loss) and income taxes	173			142
Realized gains on securities	19			19
Realized loss on subsidiaries	(162		)	—
Total earnings before income taxes	$	30		$	161

(*) Includes holding company expenses. Also includes earnings of managed investment entities attributable to noncontrolling interest of less than $1 million for the first three months of 2014. Following the adoption of new guidance in the first quarter of 2015, there are no longer earnings of managed investment entities that are attributable to noncontrolling interests. See Note A — “Accounting Policies — Managed Investment Entities.”