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Fair Value Measurements - Narrative (Details)
$ in Millions
12 Months Ended
Dec. 24, 2015
USD ($)
Dec. 31, 2016
USD ($)
professional
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Fair Value Measurements (Textual) [Abstract]        
AFG's internal investment professionals | professional   25    
Level 3 assets as a percentage of total assets measured at fair value   4.00%    
Percentage of level 3 assets that were priced using non-binding broker quotes   78.00%    
Level 3 assets that were priced using non-binding broker quotes   $ 1,370    
Total realized/unrealized gains (losses) included in net income on liabilities still outstanding       $ 50
Life contingent annuities   $ 204 $ 200  
Maximum        
Fair Value Measurements (Textual) [Abstract]        
Percentage of internally developed Level 3 asset fair values to Shareholders' equity (are less than)   10.00%    
Fixed-indexed annuities (embedded derivative)        
Fair Value Measurements (Textual) [Abstract]        
Fair value of derivatives in annuity benefits accumulated measured using a discounted cash flow approach   $ 1,760    
Fixed-indexed annuities (embedded derivative) | Minimum        
Fair Value Measurements (Textual) [Abstract]        
Unobservable input surrenders used in Level 3 fair value determination   3.00%    
Fixed-indexed annuities (embedded derivative) | Maximum        
Fair Value Measurements (Textual) [Abstract]        
Unobservable input surrenders used in Level 3 fair value determination   21.00%    
Fixed-indexed annuities (embedded derivative), majority of future years | Minimum        
Fair Value Measurements (Textual) [Abstract]        
Unobservable input surrenders used in Level 3 fair value determination   6.00%    
Fixed-indexed annuities (embedded derivative), majority of future years | Maximum        
Fair Value Measurements (Textual) [Abstract]        
Unobservable input surrenders used in Level 3 fair value determination   10.00%    
Not Designated as Hedging Instrument | Annuity benefits | Fixed-indexed annuities (embedded derivative)        
Fair Value Measurements (Textual) [Abstract]        
Total realized/unrealized gains (losses) included in net income for the embedded derivatives related to the unlocking of actuarial assumptions   $ (17) $ (28) $ 58
Run-off long-term care insurance business        
Fair Value Measurements (Textual) [Abstract]        
Investment securities proceeds received from the sale of the run-off long-term care insurance business $ 11      
Estimated net sale proceeds of the run-off long-term care insurance business [1] 13      
Level 1 | Run-off long-term care insurance business        
Fair Value Measurements (Textual) [Abstract]        
Investment securities proceeds received from the sale of the run-off long-term care insurance business 5      
Level 2 | Run-off long-term care insurance business        
Fair Value Measurements (Textual) [Abstract]        
Investment securities proceeds received from the sale of the run-off long-term care insurance business 2      
Level 3 | Run-off long-term care insurance business        
Fair Value Measurements (Textual) [Abstract]        
Investment securities proceeds received from the sale of the run-off long-term care insurance business $ 4      
[1] Includes the fair value of the potential additional consideration and capital maintenance agreement and is shown net of estimated expenses.