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Fair Value Measurements (Details Textual)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
USD ($)
stock
Mar. 31, 2015
USD ($)
Jun. 30, 2014
USD ($)
stock
Jun. 30, 2015
USD ($)
stock
professional
Jun. 30, 2014
USD ($)
stock
Dec. 31, 2014
USD ($)
Fair Value Measurements (Textual) [Abstract]            
AFG's internal investment professionals | professional       20    
Level 3 assets as a percentage of total assets measured at fair value       4.00%    
Percentage of level 3 assets that were priced using non-binding broker quotes       72.00%    
Level 3 assets that were priced using non-binding broker quotes       $ 1,100    
Percentage of internally developed Level 3 asset fair values to Shareholders' equity       6.00%    
Total realized/unrealized gains (losses) included in net income on liabilities still outstanding     $ 1   $ 5  
Life contingent annuities $ 201     $ 201   $ 203
Maximum [Member]            
Fair Value Measurements (Textual) [Abstract]            
Percentage of internally developed Level 3 asset fair values to total assets (are less than)       1.00%    
Fixed-indexed annuties (embedded derivative), majority of future years [Member] | Minimum [Member]            
Fair Value Measurements (Textual) [Abstract]            
Unobservable input surrenders used in Level 3 fair value determination       5.00%    
Fixed-indexed annuties (embedded derivative), majority of future years [Member] | Maximum [Member]            
Fair Value Measurements (Textual) [Abstract]            
Unobservable input surrenders used in Level 3 fair value determination       11.00%    
Fixed-indexed annuities (embedded derivative) [Member]            
Fair Value Measurements (Textual) [Abstract]            
Fair value of derivatives in annuity benefits accumulated measured using a discounted cash flow approach $ 1,260     $ 1,260    
Fixed-indexed annuities (embedded derivative) [Member] | Minimum [Member]            
Fair Value Measurements (Textual) [Abstract]            
Unobservable input surrenders used in Level 3 fair value determination       4.00%    
Fixed-indexed annuities (embedded derivative) [Member] | Maximum [Member]            
Fair Value Measurements (Textual) [Abstract]            
Unobservable input surrenders used in Level 3 fair value determination       16.00%    
Common stocks [Member]            
Fair Value Measurements (Textual) [Abstract]            
Number of stocks transferred from Level 2 to Level 1 | stock 5     6    
Fair value of assets transferred from Level 2 to Level 1, during the second quarter $ 26          
Fair value of assets transferred from Level 2 to Level 1, during the first six months $ 79     $ 79    
Perpetual preferred stocks [Member]            
Fair Value Measurements (Textual) [Abstract]            
Number of stocks transferred from Level 2 to Level 1 | stock 2     4    
Fair value of assets transferred from Level 2 to Level 1, during the second quarter $ 14          
Fair value of assets transferred from Level 2 to Level 1, during the first six months $ 19     $ 19    
Number of stocks transferred from Level 1 to Level 2 | stock     1   9  
Fair value of assets transferred from Level 1 to Level 2, during the first six months     $ 55   $ 55  
Perpetual preferred stocks [Member] | Maximum [Member]            
Fair Value Measurements (Textual) [Abstract]            
Fair value of assets transferred from Level 1 to Level 2, during the second quarter (are less than)     $ 1      
Mandatory redeemable preferred stocks [Member]            
Fair Value Measurements (Textual) [Abstract]            
Number of stocks transferred from Level 2 to Level 1 | stock 1     1    
Fair value of assets transferred from Level 2 to Level 1, during the second quarter $ 10          
Fair value of assets transferred from Level 2 to Level 1, during the first six months $ 10     $ 10    
Run-off long-term care insurance business [Member]            
Fair Value Measurements (Textual) [Abstract]            
Estimated sale proceeds of the run-off long-term care insurance business [1]   $ 14        
[1] Includes fair value of the potential additional consideration and is shown net of estimated expenses.