Deferred Policy Acquisition Costs (Tables)

12 Months Ended

Dec. 31, 2012

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs Details

A progression of deferred policy acquisition costs is presented below (in millions):

	P&C			Annuity and Other (*)
	Deferred			Deferred			Sales			Present Value									Consolidated
	Costs			Costs			Inducements			of Future Profits			Unrealized			Total			Total
Balance at December 31, 2009	$	186		$	781		$	189		$	190		$	(17	)	$	1,143		$	1,329
Additions	399			195			31			—			—			226			625
Amortization:
Periodic amortization	(404		)	(139		)	(22		)	(27		)	—			(188		)	(592		)
Annuity unlocking	—			(34		)	(9		)	1			—			(42		)	(42		)
Included in realized gains	—			9			—			—			—			9			9
Change in unrealized	—			—			—			—			(298		)	(298		)	(298		)
Balance at December 31, 2010	181			812			189			164			(315		)	850			1,031
Additions	433			239			18			—			—			257			690
Amortization:
Periodic amortization	(425		)	(146		)	(24		)	(21		)	—			(191		)	(616		)
Annuity unlocking	—			(2		)	6			1			—			5			5
Included in realized gains	—			13			—			—			—			13			13
Change in unrealized	—			—			—			—			(222		)	(222		)	(222		)
Balance at December 31, 2011	189			916			189			144			(537		)	712			901
Additions	438			212			15			—			—			227			665
Amortization:
Periodic amortization	(423		)	(148		)	(30		)	(17		)	—			(195		)	(618		)
Annuity unlocking	—			(33		)	(4		)	—			—			(37		)	(37		)
Loss recognition charge	—			(67		)	—			(12		)	—			(79		)	(79		)
Included in realized gains	—			(1		)	—			—			—			(1		)	(1		)
Sale of subsidiaries	—			(92		)	—			(16		)	—			(108		)	(108		)
Change in unrealized	—			—			—			—			(173		)	(173		)	(173		)
Balance at December 31, 2012	$	204		$	787		$	170		$	99		$	(710	)	$	346		$	550

(*) Includes AFG’s Medicare supplement and critical illness business (sold in 2012) and AFG’s run-off long-term care and life businesses.