Sales of Businesses (Tables)

9 Months Ended

Sep. 30, 2021

Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]

Revenues, costs and expenses, and earnings before income taxes for subsidiaries sold

An estimated loss of $30 million on the sale of Neon was recorded in AFG’s financial statements as of September 30, 2020 as shown below (in millions):

Estimated sale proceeds, net of expenses	$	4
Assets of businesses to be sold:
Cash and investments	$	461
Recoverables from reinsurers	198
Prepaid reinsurance premiums	30
Agents’ balances and premiums receivable	48
Other assets	73
Total assets	810
Liabilities of businesses to be sold:
Unpaid losses and loss adjustment expenses	598
Unearned premiums	83
Payable to reinsurers	39
Other liabilities	47
Total liabilities	767
Reclassify accumulated other comprehensive income	(9)
Net assets of businesses to be sold	$	34
Pretax loss on subsidiaries recorded in the third quarter of 2020	$	(30)

Revenues, costs and expenses, and earnings before income taxes for the subsidiaries sold were (in millions):

	Three months ended		Nine months ended
	September 30, 2020		September 30, 2020
Net earned premiums	$	42	$	174
Loss and loss adjustment expenses	60		166
Commissions and other underwriting expenses	20		90
Underwriting loss	(38)		(82)
Net investment income	1		(5)
Other income and expenses, net	(3)		(5)
Loss before income taxes and noncontrolling interests	$	(40)	$	(92)