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Fair Value Measurements - Narrative (Details)
$ in Millions
3 Months Ended
Mar. 31, 2021
USD ($)
professional
Dec. 31, 2020
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
AFG's internal investment professionals | professional 20  
Life contingent annuities $ 1,120 $ 1,110
Embedded derivatives | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable input surrenders used in Level 3 fair value determination 7.00%  
Embedded derivatives | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable input surrenders used in Level 3 fair value determination 22.00%  
Fixed-Indexed Annuities (Embedded Derivative) | Liabilities of discontinued annuity operations    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair value of derivatives in annuity benefits accumulated measured using a discounted cash flow approach $ 3,950  
Fixed-Indexed Annuities (Embedded Derivative), Majority of Future Years | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable input surrenders used in Level 3 fair value determination 8.00%  
Fixed-Indexed Annuities (Embedded Derivative), Majority of Future Years | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unobservable input surrenders used in Level 3 fair value determination 11.00%  
Level 3 | Continuing operations    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Level 3 assets as a percentage of total assets measured at fair value 5.00%  
Percentage of level 3 assets that were priced using non-binding broker quotes 22.00%  
Level 3 assets that were priced using non-binding broker quotes $ 185  
Level three assets that were priced by pricing services. $ 78  
Percentage Of Level Three Assets That Were Priced By Pricing Services 9.00%  
Internally developed level 3 assets $ 488  
Percentage Of Internally Developed Level Three Assets Compared to Total Level 3 Assets 58.00%