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Segments of Operations (Tables)
12 Months Ended
Dec. 31, 2012
Segment Reporting [Abstract]  
Segment Reporting Information, by Segment
The following tables (in millions) show AFG’s assets, revenues and operating earnings before income taxes by significant business segment and sub-segment.
 
2012
 
2011
 
2010
Assets
 
 
 
 
 
Property and casualty insurance (a)
$
12,163

 
$
11,740

 
$
11,466

Annuity
20,909

 
18,245

 
15,646

Run-off long-term care and life
2,304

 
1,785

 
1,596

Medicare supplement and critical illness (b)

 
359

 
454

Other
3,795

 
3,709

 
3,079

Total assets
$
39,171

 
$
35,838

 
$
32,241


Revenues
 
 
 
 
 
Property and casualty insurance:
 
 
 
 
 
Premiums earned:
 
 
 
 
 
Specialty
 
 
 
 
 
Property and transportation
$
1,423

 
$
1,412

 
$
1,167

Specialty casualty
948

 
872

 
873

Specialty financial
405

 
408

 
446

Other
71

 
67

 
64

Total premiums earned
2,847

 
2,759

 
2,550

Investment income
279

 
296

 
341

Other income
67

 
65

 
64

Total property and casualty insurance
3,193

 
3,120

 
2,955

Annuity:
 
 
 
 
 
Investment income
982

 
868

 
788

Other income
85

 
73

 
70

Total annuity
1,067

 
941

 
858

Run-off long-term care and life
212

 
212

 
218

Medicare supplement and critical illness (b)
212

 
325

 
341

Other
7

 
79

 
37

Total revenues before realized gains (losses)
4,691

 
4,677

 
4,409

Realized gains (losses) on securities
210

 
76

 
101

Realized gains (losses) on subsidiaries
161

 
(3
)
 
(13
)
Total revenues
$
5,062

 
$
4,750

 
$
4,497


(a)   Not allocable to sub-segments.
(b)   Sold in August 2012.
 
2012
 
2011
 
2010
Operating Earnings Before Income Taxes
 
 
 
 
 
Property and casualty insurance:
 
 
 
 
 
Underwriting:
 
 
 
 
 
Specialty
 
 
 
 
 
Property and transportation
$
19

 
$
113

 
$
141

Specialty casualty
53

 
35

 
45

Specialty financial
44

 
65

 
123

Other
15

 
18

 
8

Other lines (a)
(44
)
 
(51
)
 
(11
)
Total underwriting
87

 
180

 
306

Investment and other income, net
237

 
263

 
299

Total property and casualty insurance
324

 
443

 
605

Annuity
256

 
188

 
159

Run-off long-term care and life (b)
(157
)
 

 
7

Medicare supplement and critical illness (c)
28

 
34

 
31

Other (d)
(285
)
 
(180
)
 
(196
)
Total operating earnings before realized gains (losses) and income taxes
166

 
485

 
606

Realized gains (losses) on securities
210

 
76

 
101

Realized gains (losses) on subsidiaries
161

 
(3
)
 
(13
)
Total operating earnings before income taxes
$
537

 
$
558

 
$
694


(a)
Includes third quarter 2012 and second quarter 2011 special charges of $31 million and $50 million, respectively, to increase asbestos and environmental reserves.
(b)
Includes a loss recognition charge of $153 million in the fourth quarter of 2012.
(c)
Sold in August 2012.
(d)
Includes holding company expenses, a second quarter 2011 special charge of $9 million to increase asbestos and environmental reserves and $98 million, $24 million and $64 million in losses of managed investment entities attributable to noncontrolling interests for the years ended December 31, 2012, 2011 and 2010, respectively. Holding company expenses in 2012 also include an $8 million loss on retirement of debt and a $15 million charge for a labor matter related to AFG’s former railroad operations.