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Fair Value Measurements - Narrative (Details)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2018
USD ($)
Dec. 31, 2020
USD ($)
professional
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Fair Value Measurements (Textual) [Abstract]        
AFG's internal investment professionals | professional   20    
Level 3 assets as a percentage of total assets measured at fair value   7.00%    
Percentage of level 3 assets that were priced using non-binding broker quotes   40.00%    
Level 3 assets that were priced using non-binding broker quotes   $ 1,500    
Level three assets that were priced by pricing services.   $ 530    
Percentage Of level three assets that were priced by pricing services   14.00%    
Percentage of internally developed level three assets compared to total level 3 assets   46.00%    
Fair value of equity securities transferred into level 3   $ 620 $ 244 $ 270
Life contingent annuities   1,110 247  
Equity securities        
Fair Value Measurements (Textual) [Abstract]        
Fair value of equity securities transferred into level 3 $ 29 17 56 30
Fixed-indexed and variable-indexed annuities (embedded derivative)        
Fair Value Measurements (Textual) [Abstract]        
Fair value of derivatives in annuity benefits accumulated measured using a discounted cash flow approach   $ 3,930    
Fixed-indexed and variable-indexed annuities (embedded derivative) | Minimum        
Fair Value Measurements (Textual) [Abstract]        
Unobservable input surrenders used in Level 3 fair value determination   4.00%    
Fixed-indexed and variable-indexed annuities (embedded derivative) | Maximum        
Fair Value Measurements (Textual) [Abstract]        
Unobservable input surrenders used in Level 3 fair value determination   23.00%    
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   8.00%    
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   11.00%    
Not Designated as Hedging Instrument | Annuity benefits | Fixed-indexed and variable-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   $ 240 $ 181 $ (44)
Level 3        
Fair Value Measurements (Textual) [Abstract]        
Internally developed level 3 assets   $ 1,680