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Fair Value Measurements - Narrative (Details)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
USD ($)
stock
Sep. 30, 2015
USD ($)
stock
Mar. 31, 2015
USD ($)
Sep. 30, 2016
USD ($)
stock
professional
Sep. 30, 2015
USD ($)
stock
Dec. 31, 2015
USD ($)
Fair Value Measurements (Textual) [Abstract]            
AFG's internal investment professionals | professional       25    
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       76.00%    
Level 3 assets that were priced using non-binding broker quotes       $ 1,310    
Life contingent annuities $ 204     $ 204   $ 200
Maximum            
Fair Value Measurements (Textual) [Abstract]            
Percentage of internally developed Level 3 asset fair values to Shareholders' equity (are less than)       10.00%    
Fixed-indexed annuties (embedded derivative), majority of future years | Minimum            
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 | Maximum            
Fair Value Measurements (Textual) [Abstract]            
Unobservable input surrenders used in Level 3 fair value determination       10.00%    
Fixed-indexed annuities (embedded derivative)            
Fair Value Measurements (Textual) [Abstract]            
Fair value of derivatives in annuity benefits accumulated measured using a discounted cash flow approach $ 1,690     $ 1,690    
Fixed-indexed annuities (embedded derivative) | Minimum            
Fair Value Measurements (Textual) [Abstract]            
Unobservable input surrenders used in Level 3 fair value determination       3.00%    
Fixed-indexed annuities (embedded derivative) | Maximum            
Fair Value Measurements (Textual) [Abstract]            
Unobservable input surrenders used in Level 3 fair value determination       21.00%    
Common stocks            
Fair Value Measurements (Textual) [Abstract]            
Number of stocks transferred from Level 2 to Level 1 | stock   1     7  
Fair value of assets transferred from Level 2 to Level 1, during the first nine months   $ 80     $ 80  
Number of stocks transferred from Level 1 to Level 2 | stock 1     1    
Common stocks | Maximum            
Fair Value Measurements (Textual) [Abstract]            
Fair value of assets transferred from Level 2 to Level 1, during the third quarter   1        
Fair value of assets transferred from Level 1 to Level 2, during the third quarter $ 1          
Fair value of assets transferred from Level 1 to Level 2, during the first nine months 1     $ 1    
Perpetual preferred stocks            
Fair Value Measurements (Textual) [Abstract]            
Number of stocks transferred from Level 2 to Level 1 | stock       6 4  
Fair value of assets transferred from Level 2 to Level 1, during the first nine months 35 $ 19   $ 35 $ 19  
Number of stocks transferred from Level 1 to Level 2 | stock   7   5 7  
Fair value of assets transferred from Level 1 to Level 2, during the third quarter   $ 31        
Fair value of assets transferred from Level 1 to Level 2, during the first nine months $ 12 31   $ 12 $ 31  
Mandatorily redeemable preferred stocks            
Fair Value Measurements (Textual) [Abstract]            
Number of stocks transferred from Level 2 to Level 1 | stock         1  
Fair value of assets transferred from Level 2 to Level 1, during the first nine months   $ 10     $ 10  
Run-off long-term care insurance business            
Fair Value Measurements (Textual) [Abstract]            
Estimated sale proceeds of the run-off long-term care insurance business     $ 14