Insurance (Tables)

12 Months Ended

Dec. 31, 2021

Insurance [Abstract]

Reconciliation of beginning and ending liability for unpaid losses and loss adjustment expenses

The following table provides an analysis of changes in the liability for losses and loss adjustment expenses over the past three years (in millions):

	2021		2020		2019
Balance at beginning of period	$	10,392	$	10,232	$	9,741
Less reinsurance recoverables, net of allowance	3,117		3,024		2,942
Net liability at beginning of period	7,275		7,208		6,799
Provision for losses and LAE occurring in the current year	3,436		3,398		3,414
Net increase (decrease) in the provision for claims of prior years:
Special A&E charges	—		47		18
Neon exited lines	—		19		7
Other	(279)		(193)		(168)
Total losses and LAE incurred	3,157		3,271		3,271
Payments for losses and LAE of:
Current year	(1,024)		(990)		(1,076)
Prior years	(1,753)		(1,766)		(1,790)
Total payments	(2,777)		(2,756)		(2,866)
Reserves of businesses disposed (*)	—		(449)		—
Foreign currency translation and other	—		1		4
Net liability at end of period	7,655		7,275		7,208
Add back reinsurance recoverables, net of allowance	3,419		3,117		3,024
Gross unpaid losses and LAE included in the balance sheet	$	11,074	$	10,392	$	10,232

(*)Reflects the December 31, 2020 sale of Neon (see Note C — “Acquisitions and Sale of Businesses”).

Short-duration insurance contracts, reconciliation of claims development to liability

A reconciliation of incurred and paid claims development information to the aggregate carrying amount of the liability for unpaid losses and LAE, with separate disclosure of reinsurance recoverables on unpaid claims is shown below (in millions):

	2021
Unpaid losses and allocated LAE, net of reinsurance:
Specialty
Property and transportation	$	1,318
Specialty casualty	4,447
Specialty financial	256
Other specialty	434
Total Specialty (excluding foreign reserves)	6,455
Other reserves
Foreign operations	349
A&E reserves	408
Unallocated LAE	382
Other	61
Total other reserves	1,200
Total reserves, net of reinsurance	7,655
Add back reinsurance recoverables, net of allowance	3,419
Gross unpaid losses and LAE included in the balance sheet	$	11,074

Short-duration insurance contracts, claims development

The following claims development tables and associated disclosures related to short-duration insurance contracts are prepared by sub-segment within the property and casualty insurance business for the most recent 10 accident years. AFG determines its claim counts at the claimant or policy feature level depending on the particular facts and circumstances of the underlying claim. While the methodology is generally consistent within each sub-segment, there are minor differences between and within the sub-segments. The methods used to summarize claim counts have not changed significantly over the time periods reported in the tables below.

Property and transportation
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	864	$	857	$	871	$	883	$	894	$	890	$	886	$	881	$	879	$	877	$	3	143,144
2013			882		870		872		878		878		877		873		871		870		5		138,947
2014					844		828		817		820		815		808		804		802		6		133,218
2015							818		784		779		777		777		772		768		9		134,923
2016									746		716		714		706		694		688		15		121,191
2017											889		847		843		823		816		19		140,714
2018													932		902		886		876		35		130,271
2019															1,111		1,058		1,051		65		153,560
2020																	1,043		974		138		120,696
2021																			1,119		397		108,153
																	Total		$	8,841

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (a)
2012	$	572	$	708	$	772	$	816	$	842	$	856	$	882	$	869	$	872	$	873	99.5	%
2013			438		702		760		804		831		847		858		860		861		99.0	%
2014					329		632		693		744		770		783		789		791		98.6	%
2015							359		582		667		707		736		744		750		97.7	%
2016									294		521		577		618		640		656		95.3	%
2017											379		640		696		735		755		92.5	%
2018													396		676		738		781		89.2	%
2019															527		823		904		86.0	%
2020																	461		726		74.5	%
2021																			449		40.1	%
																	Total		$	7,546
							Unpaid losses and LAE — years 2012 through 2021												1,295
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																23
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	1,318

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	47.5	%	29.4	%	7.8	%	5.3	%	3.1	%	1.7	%	1.4	%	(0.3	%)	0.2	%	0.1	%
Cumulative	47.5	%	76.9	%	84.7	%	90.0	%	93.1	%	94.8	%	96.2	%	95.9	%	96.1	%	96.2	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Specialty casualty
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	901	$	892	$	885	$	885	$	883	$	877	$	849	$	842	$	833	$	826	$	23	54,827
2013			968		949		945		940		945		926		916		905		898		35		55,128
2014					1,035		1,008		1,008		1,006		982		967		952		950		50		56,942
2015							1,081		1,043		1,041		1,042		1,024		1,021		1,015		67		58,076
2016									1,131		1,122		1,116		1,101		1,090		1,069		124		56,407
2017											1,211		1,221		1,204		1,189		1,162		200		56,975
2018													1,277		1,307		1,302		1,262		297		58,808
2019															1,308		1,311		1,322		442		58,304
2020																	1,352		1,329		631		52,733
2021																			1,384		907		48,149
																	Total		$	11,217

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (a)
2012	$	173	$	385	$	516	$	621	$	684	$	723	$	745	$	761	$	775	$	783	94.8	%
2013			182		396		554		666		729		766		797		820		835		93.0	%
2014					190		412		574		680		755		801		829		862		90.7	%
2015							178		411		577		702		792		844		888		87.5	%
2016									186		418		584		713		806		870		81.4	%
2017											200		422		612		755		833		71.7	%
2018													210		475		649		794		62.9	%
2019															212		455		651		49.2	%
2020																	188		446		33.6	%
2021																			191		13.8	%
																	Total		$	7,153
							Unpaid losses and LAE — years 2012 through 2021												4,064
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																383
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	4,447

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	17.4	%	21.7	%	15.9	%	12.1	%	7.8	%	5.0	%	3.3	%	2.7	%	1.7	%	1.0	%
Cumulative	17.4	%	39.1	%	55.0	%	67.1	%	74.9	%	79.9	%	83.2	%	85.9	%	87.6	%	88.6	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Specialty financial
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	163	$	163	$	151	$	139	$	137	$	135	$	132	$	127	$	126	$	125	$	1	21,094
2013			140		145		137		131		127		126		122		122		120		1		28,475
2014					146		157		156		153		147		142		137		136		1		29,466
2015							156		160		158		153		145		138		136		2		37,626
2016									179		184		187		182		174		170		4		45,157
2017											212		215		212		208		203		8		48,781
2018													212		217		219		207		15		46,697
2019															194		198		191		23		41,735
2020																	231		215		49		29,254
2021																			223		110		23,349
																	Total		$	1,726

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (a)
2012	$	71	$	104	$	109	$	117	$	121	$	126	$	128	$	126	$	125	$	125	100.0	%
2013			70		100		107		113		117		117		118		118		118		98.3	%
2014					62		109		125		128		137		139		141		140		102.9	%
2015							72		110		129		133		132		134		134		98.5	%
2016									88		141		158		161		163		164		96.5	%
2017											120		169		186		194		193		95.1	%
2018													112		163		187		188		90.8	%
2019															99		146		164		85.9	%
2020																	100		144		67.0	%
2021																			98		43.9	%
																	Total		$	1,468
							Unpaid losses and LAE — years 2012 through 2021												258
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																(2)
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	256

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	52.1	%	26.5	%	9.4	%	3.2	%	2.2	%	1.5	%	1.0	%	(0.8	%)	(0.4	%)	—	%
Cumulative	52.1	%	78.6	%	88.0	%	91.2	%	93.4	%	94.9	%	95.9	%	95.1	%	94.7	%	94.7	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Other specialty
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims (a)
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	42	$	40	$	39	$	40	$	41	$	39	$	39	$	36	$	37	$	38	$	2	—
2013			46		47		46		47		50		53		58		58		60		1		—
2014					58		57		59		59		60		61		64		66		7		—
2015							59		60		63		66		76		82		84		7		—
2016									61		61		65		71		76		77		13		—
2017											63		65		70		81		88		12		—
2018													86		90		92		94		35		—
2019															108		107		108		44		—
2020																	122		117		80		—
2021																			135		117		—
																	Total		$	867

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (b)
2012	$	8	$	17	$	21	$	25	$	28	$	30	$	30	$	32	$	33	$	34	89.5	%
2013			7		16		22		34		37		44		51		53		57		95.0	%
2014					13		21		30		36		43		50		53		54		81.8	%
2015							10		26		31		50		62		69		75		89.3	%
2016									9		19		31		47		53		60		77.9	%
2017											10		19		30		52		63		71.6	%
2018													12		23		32		44		46.8	%
2019															9		24		49		45.4	%
2020																	9		21		17.9	%
2021																			8		5.9	%
																	Total		$	465
							Unpaid losses and LAE — years 2012 through 2021												402
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																32
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	434

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	12.2	%	14.3	%	12.6	%	17.3	%	9.7	%	9.0	%	5.8	%	3.4	%	4.6	%	2.6	%
Cumulative	12.2	%	26.5	%	39.1	%	56.4	%	66.1	%	75.1	%	80.9	%	84.3	%	88.9	%	91.5	%

(a)The amounts shown in Other specialty represent business assumed by AFG’s internal reinsurance program from the operations that make up AFG’s other Specialty property and casualty insurance sub-segments. Accordingly, the liability for incurred claims and allocated LAE represents additional reserves held on claims counted in the tables provided for the other sub-segments (above).

(b)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Total Specialty Group
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	1,970	$	1,952	$	1,946	$	1,947	$	1,955	$	1,941	$	1,906	$	1,886	$	1,875	$	1,866	$	29	219,065
2013			2,036		2,011		2,000		1,996		2,000		1,982		1,969		1,956		1,948		42		222,550
2014					2,083		2,050		2,040		2,038		2,004		1,978		1,957		1,954		64		219,626
2015							2,114		2,047		2,041		2,038		2,022		2,013		2,003		85		230,625
2016									2,117		2,083		2,082		2,060		2,034		2,004		156		222,755
2017											2,375		2,348		2,329		2,301		2,269		239		246,470
2018													2,507		2,516		2,499		2,439		382		235,776
2019															2,721		2,674		2,672		574		253,599
2020																	2,748		2,635		898		202,683
2021																			2,861		1,531		179,651
																	Total		$	22,651

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (a)
2012	$	824	$	1,214	$	1,418	$	1,579	$	1,675	$	1,735	$	1,785	$	1,788	$	1,805	$	1,815	97.3	%
2013			697		1,214		1,443		1,617		1,714		1,774		1,824		1,851		1,871		96.0	%
2014					594		1,174		1,422		1,588		1,705		1,773		1,812		1,847		94.5	%
2015							619		1,129		1,404		1,592		1,722		1,791		1,847		92.2	%
2016									577		1,099		1,350		1,539		1,662		1,750		87.3	%
2017											709		1,250		1,524		1,736		1,844		81.3	%
2018													730		1,337		1,606		1,807		74.1	%
2019															847		1,448		1,768		66.2	%
2020																	758		1,337		50.7	%
2021																			746		26.1	%
																	Total		$	16,632
							Unpaid losses and LAE — years 2012 through 2021												6,019
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																436
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	6,455

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	31.8	%	24.6	%	12.1	%	8.9	%	5.6	%	3.5	%	2.5	%	1.1	%	1.0	%	0.5	%
Cumulative	31.8	%	56.4	%	68.5	%	77.4	%	83.0	%	86.5	%	89.0	%	90.1	%	91.1	%	91.6	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Short-duration insurance contracts, schedule of historical claims duration

The following claims development tables and associated disclosures related to short-duration insurance contracts are prepared by sub-segment within the property and casualty insurance business for the most recent 10 accident years. AFG determines its claim counts at the claimant or policy feature level depending on the particular facts and circumstances of the underlying claim. While the methodology is generally consistent within each sub-segment, there are minor differences between and within the sub-segments. The methods used to summarize claim counts have not changed significantly over the time periods reported in the tables below.

Property and transportation
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	864	$	857	$	871	$	883	$	894	$	890	$	886	$	881	$	879	$	877	$	3	143,144
2013			882		870		872		878		878		877		873		871		870		5		138,947
2014					844		828		817		820		815		808		804		802		6		133,218
2015							818		784		779		777		777		772		768		9		134,923
2016									746		716		714		706		694		688		15		121,191
2017											889		847		843		823		816		19		140,714
2018													932		902		886		876		35		130,271
2019															1,111		1,058		1,051		65		153,560
2020																	1,043		974		138		120,696
2021																			1,119		397		108,153
																	Total		$	8,841

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (a)
2012	$	572	$	708	$	772	$	816	$	842	$	856	$	882	$	869	$	872	$	873	99.5	%
2013			438		702		760		804		831		847		858		860		861		99.0	%
2014					329		632		693		744		770		783		789		791		98.6	%
2015							359		582		667		707		736		744		750		97.7	%
2016									294		521		577		618		640		656		95.3	%
2017											379		640		696		735		755		92.5	%
2018													396		676		738		781		89.2	%
2019															527		823		904		86.0	%
2020																	461		726		74.5	%
2021																			449		40.1	%
																	Total		$	7,546
							Unpaid losses and LAE — years 2012 through 2021												1,295
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																23
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	1,318

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	47.5	%	29.4	%	7.8	%	5.3	%	3.1	%	1.7	%	1.4	%	(0.3	%)	0.2	%	0.1	%
Cumulative	47.5	%	76.9	%	84.7	%	90.0	%	93.1	%	94.8	%	96.2	%	95.9	%	96.1	%	96.2	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Specialty casualty
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	901	$	892	$	885	$	885	$	883	$	877	$	849	$	842	$	833	$	826	$	23	54,827
2013			968		949		945		940		945		926		916		905		898		35		55,128
2014					1,035		1,008		1,008		1,006		982		967		952		950		50		56,942
2015							1,081		1,043		1,041		1,042		1,024		1,021		1,015		67		58,076
2016									1,131		1,122		1,116		1,101		1,090		1,069		124		56,407
2017											1,211		1,221		1,204		1,189		1,162		200		56,975
2018													1,277		1,307		1,302		1,262		297		58,808
2019															1,308		1,311		1,322		442		58,304
2020																	1,352		1,329		631		52,733
2021																			1,384		907		48,149
																	Total		$	11,217

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (a)
2012	$	173	$	385	$	516	$	621	$	684	$	723	$	745	$	761	$	775	$	783	94.8	%
2013			182		396		554		666		729		766		797		820		835		93.0	%
2014					190		412		574		680		755		801		829		862		90.7	%
2015							178		411		577		702		792		844		888		87.5	%
2016									186		418		584		713		806		870		81.4	%
2017											200		422		612		755		833		71.7	%
2018													210		475		649		794		62.9	%
2019															212		455		651		49.2	%
2020																	188		446		33.6	%
2021																			191		13.8	%
																	Total		$	7,153
							Unpaid losses and LAE — years 2012 through 2021												4,064
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																383
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	4,447

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	17.4	%	21.7	%	15.9	%	12.1	%	7.8	%	5.0	%	3.3	%	2.7	%	1.7	%	1.0	%
Cumulative	17.4	%	39.1	%	55.0	%	67.1	%	74.9	%	79.9	%	83.2	%	85.9	%	87.6	%	88.6	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Specialty financial
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	163	$	163	$	151	$	139	$	137	$	135	$	132	$	127	$	126	$	125	$	1	21,094
2013			140		145		137		131		127		126		122		122		120		1		28,475
2014					146		157		156		153		147		142		137		136		1		29,466
2015							156		160		158		153		145		138		136		2		37,626
2016									179		184		187		182		174		170		4		45,157
2017											212		215		212		208		203		8		48,781
2018													212		217		219		207		15		46,697
2019															194		198		191		23		41,735
2020																	231		215		49		29,254
2021																			223		110		23,349
																	Total		$	1,726

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (a)
2012	$	71	$	104	$	109	$	117	$	121	$	126	$	128	$	126	$	125	$	125	100.0	%
2013			70		100		107		113		117		117		118		118		118		98.3	%
2014					62		109		125		128		137		139		141		140		102.9	%
2015							72		110		129		133		132		134		134		98.5	%
2016									88		141		158		161		163		164		96.5	%
2017											120		169		186		194		193		95.1	%
2018													112		163		187		188		90.8	%
2019															99		146		164		85.9	%
2020																	100		144		67.0	%
2021																			98		43.9	%
																	Total		$	1,468
							Unpaid losses and LAE — years 2012 through 2021												258
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																(2)
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	256

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	52.1	%	26.5	%	9.4	%	3.2	%	2.2	%	1.5	%	1.0	%	(0.8	%)	(0.4	%)	—	%
Cumulative	52.1	%	78.6	%	88.0	%	91.2	%	93.4	%	94.9	%	95.9	%	95.1	%	94.7	%	94.7	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Other specialty
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims (a)
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	42	$	40	$	39	$	40	$	41	$	39	$	39	$	36	$	37	$	38	$	2	—
2013			46		47		46		47		50		53		58		58		60		1		—
2014					58		57		59		59		60		61		64		66		7		—
2015							59		60		63		66		76		82		84		7		—
2016									61		61		65		71		76		77		13		—
2017											63		65		70		81		88		12		—
2018													86		90		92		94		35		—
2019															108		107		108		44		—
2020																	122		117		80		—
2021																			135		117		—
																	Total		$	867

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (b)
2012	$	8	$	17	$	21	$	25	$	28	$	30	$	30	$	32	$	33	$	34	89.5	%
2013			7		16		22		34		37		44		51		53		57		95.0	%
2014					13		21		30		36		43		50		53		54		81.8	%
2015							10		26		31		50		62		69		75		89.3	%
2016									9		19		31		47		53		60		77.9	%
2017											10		19		30		52		63		71.6	%
2018													12		23		32		44		46.8	%
2019															9		24		49		45.4	%
2020																	9		21		17.9	%
2021																			8		5.9	%
																	Total		$	465
							Unpaid losses and LAE — years 2012 through 2021												402
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																32
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	434

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	12.2	%	14.3	%	12.6	%	17.3	%	9.7	%	9.0	%	5.8	%	3.4	%	4.6	%	2.6	%
Cumulative	12.2	%	26.5	%	39.1	%	56.4	%	66.1	%	75.1	%	80.9	%	84.3	%	88.9	%	91.5	%

(a)The amounts shown in Other specialty represent business assumed by AFG’s internal reinsurance program from the operations that make up AFG’s other Specialty property and casualty insurance sub-segments. Accordingly, the liability for incurred claims and allocated LAE represents additional reserves held on claims counted in the tables provided for the other sub-segments (above).

(b)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Total Specialty Group
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2021
	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021
2012	$	1,970	$	1,952	$	1,946	$	1,947	$	1,955	$	1,941	$	1,906	$	1,886	$	1,875	$	1,866	$	29	219,065
2013			2,036		2,011		2,000		1,996		2,000		1,982		1,969		1,956		1,948		42		222,550
2014					2,083		2,050		2,040		2,038		2,004		1,978		1,957		1,954		64		219,626
2015							2,114		2,047		2,041		2,038		2,022		2,013		2,003		85		230,625
2016									2,117		2,083		2,082		2,060		2,034		2,004		156		222,755
2017											2,375		2,348		2,329		2,301		2,269		239		246,470
2018													2,507		2,516		2,499		2,439		382		235,776
2019															2,721		2,674		2,672		574		253,599
2020																	2,748		2,635		898		202,683
2021																			2,861		1,531		179,651
																	Total		$	22,651

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2012–2020 is Supplementary Information and Unaudited)
	2012		2013		2014		2015		2016		2017		2018		2019		2020		2021		% (a)
2012	$	824	$	1,214	$	1,418	$	1,579	$	1,675	$	1,735	$	1,785	$	1,788	$	1,805	$	1,815	97.3	%
2013			697		1,214		1,443		1,617		1,714		1,774		1,824		1,851		1,871		96.0	%
2014					594		1,174		1,422		1,588		1,705		1,773		1,812		1,847		94.5	%
2015							619		1,129		1,404		1,592		1,722		1,791		1,847		92.2	%
2016									577		1,099		1,350		1,539		1,662		1,750		87.3	%
2017											709		1,250		1,524		1,736		1,844		81.3	%
2018													730		1,337		1,606		1,807		74.1	%
2019															847		1,448		1,768		66.2	%
2020																	758		1,337		50.7	%
2021																			746		26.1	%
																	Total		$	16,632
							Unpaid losses and LAE — years 2012 through 2021												6,019
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																436
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	6,455

	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (Supplementary Information and Unaudited)
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Annual	31.8	%	24.6	%	12.1	%	8.9	%	5.6	%	3.5	%	2.5	%	1.1	%	1.0	%	0.5	%
Cumulative	31.8	%	56.4	%	68.5	%	77.4	%	83.0	%	86.5	%	89.0	%	90.1	%	91.1	%	91.6	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2021).

Statutory information

Net earnings and capital and surplus on a statutory basis for the insurance subsidiaries were as follows (in millions):

	Net Earnings						Capital and Surplus
	2021		2020		2019		2021		2020
Property and casualty companies	$	1,007	$	481	$	584	$	4,221	$	3,643

Reinsurance information

The following table shows (in millions) (i) amounts deducted from property and casualty written and earned premiums in connection with reinsurance ceded, (ii) written and earned premiums included in income for reinsurance assumed and (iii) reinsurance recoveries, which represent ceded losses and loss adjustment expenses.

	2021		2020		2019
Direct premiums written	$	7,700	$	6,862	$	7,044
Reinsurance assumed	246		225		255
Reinsurance ceded	(2,373)		(2,074)		(1,957)
Net written premiums	$	5,573	$	5,013	$	5,342
Direct premiums earned	$	7,462	$	6,846	$	6,848
Reinsurance assumed	249		237		226
Reinsurance ceded	(2,307)		(1,984)		(1,889)
Net earned premiums	$	5,404	$	5,099	$	5,185
Reinsurance recoveries	$	1,478	$	1,522	$	1,404

Reinsurance recoverable and premiums receivable, allowance for credit loss

Progressions of the allowance for expected credit losses are shown below (in millions):

	Recoverables from Reinsurers				Premiums Receivable
	2021		2020		2021		2020
Balance at January 1	$	6	$	18	$	10	$	13
Impact of adoption of new accounting policy	—		(11)		—		(3)
Provision for expected credit losses	2		—		(2)		1
Write-offs charged against the allowance	—		—		—		(1)
Businesses disposed	—		(1)		—		—
Balance at December 31	$	8	$	6	$	8	$	10