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Segments of Operations (Tables)
 9 Months Ended
Sep. 30, 2018
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 September 30,
 
Nine months ended September 30,
 
2018
 
2017
 
2018
 
2017
Revenues
 
 
 
 
 
 
 
Property and casualty insurance:
 
 
 
 
 
 
 
Premiums earned:
 
 
 
 
 
 
 
Specialty
 
 
 
 
 
 
 
Property and transportation
$
526

 
$
527

 
$
1,250

 
$
1,226

Specialty casualty
616

 
568

 
1,790

 
1,613

Specialty financial
149

 
142

 
457

 
435

Other specialty
36

 
30

 
98

 
80

Total premiums earned
1,327

 
1,267

 
3,595

 
3,354

Net investment income
108

 
94

 
323

 
276

Other income (a)
4

 
1

 
8

 
21

Total property and casualty insurance
1,439

 
1,362

 
3,926

 
3,651

Annuity:
 
 
 
 
 
 
 
Net investment income
413

 
375

 
1,219

 
1,082

Other income
27

 
26

 
80

 
79

Total annuity
440

 
401

 
1,299

 
1,161

Other
95

 
84

 
263

 
246

Total revenues before realized gains (losses)
1,974

 
1,847

 
5,488

 
5,058

Realized gains (losses) on securities
34

 
(12
)
 
(28
)
 
(1
)
Total revenues
$
2,008

 
$
1,835

 
$
5,460

 
$
5,057


Earnings Before Income Taxes
 
 
 
 
 
 
 
Property and casualty insurance:
 
 
 
 
 
 
 
Underwriting:
 
 
 
 
 
 
 
Specialty
 
 
 
 
 
 
 
Property and transportation
$
—

 
$
6

 
$
56

 
$
70

Specialty casualty
49

 
2

 
119

 
46

Specialty financial
9

 
(3
)
 
46

 
42

Other specialty
(3
)
 
4

 
(1
)
 
3

Other lines (b)
(17
)
 
(90
)
 
(19
)
 
(92
)
Total underwriting
38

 
(81
)
 
201

 
69

Investment and other income, net (a)
101

 
87

 
300

 
271

Total property and casualty insurance
139

 
6

 
501

 
340

Annuity
117

 
102

 
341

 
283

Other (c)
(46
)
 
(67
)
 
(136
)
 
(165
)
Total earnings before realized gains (losses) and income taxes
210

 
41

 
706

 
458

Realized gains (losses) on securities
34

 
(12
)
 
(28
)
 
(1
)
Total earnings before income taxes
$
244

 
$
29

 
$
678

 
$
457


(a)
Includes income of $13 million (before noncontrolling interest) from the sale of a hotel in the first quarter of 2017.
(b)
Includes special charges of $18 million and $89 million in the third quarter of 2018 and 2017, respectively, to increase asbestos and environmental (“A&E”) reserves.
(c)
Includes holding company interest and expenses, including losses on retirement of debt of $4 million in the third quarter of 2017 and $7 million in the second quarter of 2017, and special charges of $9 million and $24 million in the third quarter of 2018 and 2017, respectively, to increase A&E reserves related to AFG’s former railroad and manufacturing operations.