Insurance (Tables)

12 Months Ended

Dec. 31, 2022

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):

	2022		2021		2020
Balance at beginning of period	$	11,074	$	10,392	$	10,232
Less reinsurance recoverables, net of allowance	3,419		3,117		3,024
Net liability at beginning of period	7,655		7,275		7,208
Provision for losses and LAE occurring in the current year	3,914		3,436		3,398
Net increase (decrease) in the provision for claims of prior years:
Special A&E charges	—		—		47
Neon exited lines	—		—		19
Other	(285)		(279)		(193)
Total losses and LAE incurred	3,629		3,157		3,271
Payments for losses and LAE of:
Current year	(1,212)		(1,024)		(990)
Prior years	(1,870)		(1,753)		(1,766)
Total payments	(3,082)		(2,777)		(2,756)
Reserves of businesses disposed (*)	—		—		(449)
Foreign currency translation and other	5		—		1
Net liability at end of period	8,207		7,655		7,275
Add back reinsurance recoverables, net of allowance	3,767		3,419		3,117
Gross unpaid losses and LAE included in the balance sheet	$	11,974	$	11,074	$	10,392

(*)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):

	2022
Unpaid losses and allocated LAE, net of reinsurance:
Specialty
Property and transportation	$	1,481
Specialty casualty	4,688
Specialty financial	277
Other specialty	525
Total Specialty (excluding foreign reserves)	6,971
Other reserves
Foreign operations	380
A&E reserves	385
Unallocated LAE	418
Other	53
Total other reserves	1,236
Total reserves, net of reinsurance	8,207
Add back reinsurance recoverables, net of allowance	3,767
Gross unpaid losses and LAE included in the balance sheet	$	11,974

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, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	882	$	870	$	872	$	878	$	878	$	877	$	873	$	871	$	870	$	870	$	4	139,031
2014			844		828		817		820		815		808		804		802		800		5		133,262
2015					818		784		779		777		777		772		768		769		7		135,048
2016							746		716		714		706		694		688		689		9		121,361
2017									889		847		843		823		816		820		15		140,902
2018											932		902		886		876		882		24		130,600
2019													1,111		1,058		1,051		1,055		35		154,011
2020															1,043		974		957		71		121,649
2021																	1,119		1,023		129		122,024
2022																			1,393		436		122,637
																	Total		$	9,258

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (a)
2013	$	438	$	702	$	760	$	804	$	831	$	847	$	858	$	860	$	861	$	864	99.3	%
2014			329		632		693		744		770		783		789		791		792		99.0	%
2015					359		582		667		707		736		744		750		755		98.2	%
2016							294		521		577		618		640		656		665		96.5	%
2017									379		640		696		735		755		783		95.5	%
2018											396		676		738		781		824		93.4	%
2019													527		823		904		959		90.9	%
2020															461		726		804		84.0	%
2021																	449		767		75.0	%
2022																			587		42.1	%
																	Total		$	7,800
							Unpaid losses and LAE — years 2013 through 2022												1,458
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																23
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	1,481

	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	45.6	%	31.2	%	7.9	%	5.3	%	3.4	%	2.0	%	1.0	%	0.4	%	0.1	%	0.3	%
Cumulative	45.6	%	76.8	%	84.7	%	90.0	%	93.4	%	95.4	%	96.4	%	96.8	%	96.9	%	97.2	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2022).

Specialty casualty
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	968	$	949	$	945	$	940	$	945	$	926	$	916	$	905	$	898	$	895	$	28	55,221
2014			1,035		1,008		1,008		1,006		982		967		952		950		955		36		57,158
2015					1,081		1,043		1,041		1,042		1,024		1,021		1,015		1,007		49		58,251
2016							1,131		1,122		1,116		1,101		1,090		1,069		1,046		83		56,549
2017									1,211		1,221		1,204		1,189		1,162		1,139		139		57,232
2018											1,277		1,307		1,302		1,262		1,269		226		59,219
2019													1,308		1,311		1,322		1,280		300		59,029
2020															1,352		1,329		1,258		440		53,383
2021																	1,384		1,389		696		54,555
2022																			1,475		954		48,805
																	Total		$	11,713

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (a)
2013	$	182	$	396	$	554	$	666	$	729	$	766	$	797	$	820	$	835	$	845	94.4	%
2014			190		412		574		680		755		801		829		862		881		92.3	%
2015					178		411		577		702		792		844		888		913		90.7	%
2016							186		418		584		713		806		870		906		86.6	%
2017									200		422		612		755		833		902		79.2	%
2018											210		475		649		794		901		71.0	%
2019													212		455		651		795		62.1	%
2020															188		446		613		48.7	%
2021																	191		438		31.5	%
2022																			198		13.4	%
																	Total		$	7,392
							Unpaid losses and LAE — years 2013 through 2022												4,321
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																367
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	4,688

	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	16.8	%	21.1	%	15.7	%	11.9	%	8.0	%	5.3	%	3.6	%	2.8	%	1.8	%	1.1	%
Cumulative	16.8	%	37.9	%	53.6	%	65.5	%	73.5	%	78.8	%	82.4	%	85.2	%	87.0	%	88.1	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2022).

Specialty financial
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	140	$	145	$	137	$	131	$	127	$	126	$	122	$	122	$	120	$	118	$	1	28,477
2014			146		157		156		153		147		142		137		136		135		1		29,470
2015					156		160		158		153		145		138		136		135		1		37,627
2016							179		184		187		182		174		170		173		2		45,177
2017									212		215		212		208		203		202		4		48,831
2018											212		217		219		207		201		7		46,764
2019													194		198		191		186		15		41,898
2020															231		215		202		23		29,638
2021																	223		201		49		26,983
2022																			243		124		19,415
																	Total		$	1,796

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (a)
2013	$	70	$	100	$	107	$	113	$	117	$	117	$	118	$	118	$	118	$	117	99.2	%
2014			62		109		125		128		137		139		141		140		141		104.4	%
2015					72		110		129		133		132		134		134		134		99.3	%
2016							88		141		158		161		163		164		171		98.8	%
2017									120		169		186		194		193		192		95.0	%
2018											112		163		187		188		192		95.5	%
2019													99		146		164		168		90.3	%
2020															100		144		159		78.7	%
2021																	98		136		67.7	%
2022																			108		44.4	%
																	Total		$	1,518
							Unpaid losses and LAE — years 2013 through 2022												278
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																(1)
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	277

	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	%	26.1	%	9.9	%	2.7	%	2.0	%	0.6	%	1.6	%	(0.2	%)	0.4	%	(0.8	%)
Cumulative	52.1	%	78.2	%	88.1	%	90.8	%	92.8	%	93.4	%	95.0	%	94.8	%	95.2	%	94.4	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2022).

Other specialty
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims (a)
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	46	$	47	$	46	$	47	$	50	$	53	$	58	$	58	$	60	$	63	$	1	—
2014			58		57		59		59		60		61		64		66		68		3		—
2015					59		60		63		66		76		82		84		87		5		—
2016							61		61		65		71		76		77		78		10		—
2017									63		65		70		81		88		95		7		—
2018											86		90		92		94		100		26		—
2019													108		107		108		111		32		—
2020															122		117		129		62		—
2021																	135		141		95		—
2022																			159		122		—
																	Total		$	1,031

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (b)
2013	$	7	$	16	$	22	$	34	$	37	$	44	$	51	$	53	$	57	$	60	95.2	%
2014			13		21		30		36		43		50		53		54		56		82.4	%
2015					10		26		31		50		62		69		75		76		87.4	%
2016							9		19		31		47		53		60		64		82.1	%
2017									10		19		30		52		63		76		80.0	%
2018											12		23		32		44		60		60.0	%
2019													9		24		49		61		55.0	%
2020															9		21		44		34.1	%
2021																	8		27		19.1	%
2022																			11		6.9	%
																	Total		$	535
							Unpaid losses and LAE — years 2013 through 2022												496
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																29
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	525

	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	10.3	%	12.7	%	13.1	%	16.6	%	10.7	%	10.4	%	6.9	%	1.9	%	4.6	%	4.8	%
Cumulative	10.3	%	23.0	%	36.1	%	52.7	%	63.4	%	73.8	%	80.7	%	82.6	%	87.2	%	92.0	%

(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, 2022).

Total Specialty Group
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	2,036	$	2,011	$	2,000	$	1,996	$	2,000	$	1,982	$	1,969	$	1,956	$	1,948	$	1,946	$	34	222,729
2014			2,083		2,050		2,040		2,038		2,004		1,978		1,957		1,954		1,958		45		219,890
2015					2,114		2,047		2,041		2,038		2,022		2,013		2,003		1,998		62		230,926
2016							2,117		2,083		2,082		2,060		2,034		2,004		1,986		104		223,087
2017									2,375		2,348		2,329		2,301		2,269		2,256		165		246,965
2018											2,507		2,516		2,499		2,439		2,452		283		236,583
2019													2,721		2,674		2,672		2,632		382		254,938
2020															2,748		2,635		2,546		596		204,670
2021																	2,861		2,754		969		203,562
2022																			3,270		1,636		190,857
																	Total		$	23,798

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (a)
2013	$	697	$	1,214	$	1,443	$	1,617	$	1,714	$	1,774	$	1,824	$	1,851	$	1,871	$	1,886	96.9	%
2014			594		1,174		1,422		1,588		1,705		1,773		1,812		1,847		1,870		95.5	%
2015					619		1,129		1,404		1,592		1,722		1,791		1,847		1,878		94.0	%
2016							577		1,099		1,350		1,539		1,662		1,750		1,806		90.9	%
2017									709		1,250		1,524		1,736		1,844		1,953		86.6	%
2018											730		1,337		1,606		1,807		1,977		80.6	%
2019													847		1,448		1,768		1,983		75.3	%
2020															758		1,337		1,620		63.6	%
2021																	746		1,368		49.7	%
2022																			904		27.6	%
																	Total		$	17,245
							Unpaid losses and LAE — years 2013 through 2022												6,553
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																418
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	6,971

	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	30.4	%	25.0	%	12.2	%	8.9	%	5.9	%	3.9	%	2.5	%	1.6	%	1.1	%	0.8	%
Cumulative	30.4	%	55.4	%	67.6	%	76.5	%	82.4	%	86.3	%	88.8	%	90.4	%	91.5	%	92.3	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2022).

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, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	882	$	870	$	872	$	878	$	878	$	877	$	873	$	871	$	870	$	870	$	4	139,031
2014			844		828		817		820		815		808		804		802		800		5		133,262
2015					818		784		779		777		777		772		768		769		7		135,048
2016							746		716		714		706		694		688		689		9		121,361
2017									889		847		843		823		816		820		15		140,902
2018											932		902		886		876		882		24		130,600
2019													1,111		1,058		1,051		1,055		35		154,011
2020															1,043		974		957		71		121,649
2021																	1,119		1,023		129		122,024
2022																			1,393		436		122,637
																	Total		$	9,258

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (a)
2013	$	438	$	702	$	760	$	804	$	831	$	847	$	858	$	860	$	861	$	864	99.3	%
2014			329		632		693		744		770		783		789		791		792		99.0	%
2015					359		582		667		707		736		744		750		755		98.2	%
2016							294		521		577		618		640		656		665		96.5	%
2017									379		640		696		735		755		783		95.5	%
2018											396		676		738		781		824		93.4	%
2019													527		823		904		959		90.9	%
2020															461		726		804		84.0	%
2021																	449		767		75.0	%
2022																			587		42.1	%
																	Total		$	7,800
							Unpaid losses and LAE — years 2013 through 2022												1,458
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																23
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	1,481

	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	45.6	%	31.2	%	7.9	%	5.3	%	3.4	%	2.0	%	1.0	%	0.4	%	0.1	%	0.3	%
Cumulative	45.6	%	76.8	%	84.7	%	90.0	%	93.4	%	95.4	%	96.4	%	96.8	%	96.9	%	97.2	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2022).

Specialty casualty
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	968	$	949	$	945	$	940	$	945	$	926	$	916	$	905	$	898	$	895	$	28	55,221
2014			1,035		1,008		1,008		1,006		982		967		952		950		955		36		57,158
2015					1,081		1,043		1,041		1,042		1,024		1,021		1,015		1,007		49		58,251
2016							1,131		1,122		1,116		1,101		1,090		1,069		1,046		83		56,549
2017									1,211		1,221		1,204		1,189		1,162		1,139		139		57,232
2018											1,277		1,307		1,302		1,262		1,269		226		59,219
2019													1,308		1,311		1,322		1,280		300		59,029
2020															1,352		1,329		1,258		440		53,383
2021																	1,384		1,389		696		54,555
2022																			1,475		954		48,805
																	Total		$	11,713

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (a)
2013	$	182	$	396	$	554	$	666	$	729	$	766	$	797	$	820	$	835	$	845	94.4	%
2014			190		412		574		680		755		801		829		862		881		92.3	%
2015					178		411		577		702		792		844		888		913		90.7	%
2016							186		418		584		713		806		870		906		86.6	%
2017									200		422		612		755		833		902		79.2	%
2018											210		475		649		794		901		71.0	%
2019													212		455		651		795		62.1	%
2020															188		446		613		48.7	%
2021																	191		438		31.5	%
2022																			198		13.4	%
																	Total		$	7,392
							Unpaid losses and LAE — years 2013 through 2022												4,321
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																367
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	4,688

	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	16.8	%	21.1	%	15.7	%	11.9	%	8.0	%	5.3	%	3.6	%	2.8	%	1.8	%	1.1	%
Cumulative	16.8	%	37.9	%	53.6	%	65.5	%	73.5	%	78.8	%	82.4	%	85.2	%	87.0	%	88.1	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2022).

Specialty financial
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	140	$	145	$	137	$	131	$	127	$	126	$	122	$	122	$	120	$	118	$	1	28,477
2014			146		157		156		153		147		142		137		136		135		1		29,470
2015					156		160		158		153		145		138		136		135		1		37,627
2016							179		184		187		182		174		170		173		2		45,177
2017									212		215		212		208		203		202		4		48,831
2018											212		217		219		207		201		7		46,764
2019													194		198		191		186		15		41,898
2020															231		215		202		23		29,638
2021																	223		201		49		26,983
2022																			243		124		19,415
																	Total		$	1,796

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (a)
2013	$	70	$	100	$	107	$	113	$	117	$	117	$	118	$	118	$	118	$	117	99.2	%
2014			62		109		125		128		137		139		141		140		141		104.4	%
2015					72		110		129		133		132		134		134		134		99.3	%
2016							88		141		158		161		163		164		171		98.8	%
2017									120		169		186		194		193		192		95.0	%
2018											112		163		187		188		192		95.5	%
2019													99		146		164		168		90.3	%
2020															100		144		159		78.7	%
2021																	98		136		67.7	%
2022																			108		44.4	%
																	Total		$	1,518
							Unpaid losses and LAE — years 2013 through 2022												278
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																(1)
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	277

	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	%	26.1	%	9.9	%	2.7	%	2.0	%	0.6	%	1.6	%	(0.2	%)	0.4	%	(0.8	%)
Cumulative	52.1	%	78.2	%	88.1	%	90.8	%	92.8	%	93.4	%	95.0	%	94.8	%	95.2	%	94.4	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2022).

Other specialty
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims (a)
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	46	$	47	$	46	$	47	$	50	$	53	$	58	$	58	$	60	$	63	$	1	—
2014			58		57		59		59		60		61		64		66		68		3		—
2015					59		60		63		66		76		82		84		87		5		—
2016							61		61		65		71		76		77		78		10		—
2017									63		65		70		81		88		95		7		—
2018											86		90		92		94		100		26		—
2019													108		107		108		111		32		—
2020															122		117		129		62		—
2021																	135		141		95		—
2022																			159		122		—
																	Total		$	1,031

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (b)
2013	$	7	$	16	$	22	$	34	$	37	$	44	$	51	$	53	$	57	$	60	95.2	%
2014			13		21		30		36		43		50		53		54		56		82.4	%
2015					10		26		31		50		62		69		75		76		87.4	%
2016							9		19		31		47		53		60		64		82.1	%
2017									10		19		30		52		63		76		80.0	%
2018											12		23		32		44		60		60.0	%
2019													9		24		49		61		55.0	%
2020															9		21		44		34.1	%
2021																	8		27		19.1	%
2022																			11		6.9	%
																	Total		$	535
							Unpaid losses and LAE — years 2013 through 2022												496
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																29
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	525

	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	10.3	%	12.7	%	13.1	%	16.6	%	10.7	%	10.4	%	6.9	%	1.9	%	4.6	%	4.8	%
Cumulative	10.3	%	23.0	%	36.1	%	52.7	%	63.4	%	73.8	%	80.7	%	82.6	%	87.2	%	92.0	%

(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, 2022).

Total Specialty Group
(Dollars in Millions)
	Incurred Claims and Allocated LAE, Net of Reinsurance																				As of December 31, 2022
	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)																				Total IBNR Plus Expected Development on Reported Claims		Cumulative Number of Reported Claims
Accident Year	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022
2013	$	2,036	$	2,011	$	2,000	$	1,996	$	2,000	$	1,982	$	1,969	$	1,956	$	1,948	$	1,946	$	34	222,729
2014			2,083		2,050		2,040		2,038		2,004		1,978		1,957		1,954		1,958		45		219,890
2015					2,114		2,047		2,041		2,038		2,022		2,013		2,003		1,998		62		230,926
2016							2,117		2,083		2,082		2,060		2,034		2,004		1,986		104		223,087
2017									2,375		2,348		2,329		2,301		2,269		2,256		165		246,965
2018											2,507		2,516		2,499		2,439		2,452		283		236,583
2019													2,721		2,674		2,672		2,632		382		254,938
2020															2,748		2,635		2,546		596		204,670
2021																	2,861		2,754		969		203,562
2022																			3,270		1,636		190,857
																	Total		$	23,798

	Cumulative Paid Claims and Allocated LAE, Net of Reinsurance
Accident Year	For the Years Ended (2013–2021 is Supplementary Information and Unaudited)
	2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		% (a)
2013	$	697	$	1,214	$	1,443	$	1,617	$	1,714	$	1,774	$	1,824	$	1,851	$	1,871	$	1,886	96.9	%
2014			594		1,174		1,422		1,588		1,705		1,773		1,812		1,847		1,870		95.5	%
2015					619		1,129		1,404		1,592		1,722		1,791		1,847		1,878		94.0	%
2016							577		1,099		1,350		1,539		1,662		1,750		1,806		90.9	%
2017									709		1,250		1,524		1,736		1,844		1,953		86.6	%
2018											730		1,337		1,606		1,807		1,977		80.6	%
2019													847		1,448		1,768		1,983		75.3	%
2020															758		1,337		1,620		63.6	%
2021																	746		1,368		49.7	%
2022																			904		27.6	%
																	Total		$	17,245
							Unpaid losses and LAE — years 2013 through 2022												6,553
			Unpaid losses and LAE — 11th year and prior (excluding unallocated LAE)																418
			Unpaid losses and LAE, net of reinsurance (excluding unallocated LAE)																$	6,971

	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	30.4	%	25.0	%	12.2	%	8.9	%	5.9	%	3.9	%	2.5	%	1.6	%	1.1	%	0.8	%
Cumulative	30.4	%	55.4	%	67.6	%	76.5	%	82.4	%	86.3	%	88.8	%	90.4	%	91.5	%	92.3	%

(a)Represents the cumulative percentage paid of incurred claims and allocated LAE (net of reinsurance, as estimated at December 31, 2022).

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
	2022		2021		2020		2022		2021
Property and casualty companies	$	912	$	1,007	$	481	$	4,356	$	4,221

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.

	2022		2021		2020
Direct premiums written	$	8,774	$	7,700	$	6,862
Reinsurance assumed	283		246		225
Reinsurance ceded	(2,851)		(2,373)		(2,074)
Net written premiums	$	6,206	$	5,573	$	5,013
Direct premiums earned	$	8,582	$	7,462	$	6,846
Reinsurance assumed	274		249		237
Reinsurance ceded	(2,771)		(2,307)		(1,984)
Net earned premiums	$	6,085	$	5,404	$	5,099
Reinsurance recoveries	$	2,065	$	1,478	$	1,522

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
	2022		2021		2020		2022		2021		2020
Balance at January 1	$	8	$	6	$	18	$	8	$	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	$	8	$	6	$	8	$	8	$	10