Segments of Operations (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Segment reporting information, by segment

The following tables (in millions) show AFG’s revenues and earnings before income taxes by segment and sub-segment.

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Revenues
Property and casualty insurance:
Premiums earned:
Specialty
Property and transportation	$	543	$	534	$	1,056	$	1,009
Specialty casualty	739		711		1,469		1,415
Specialty financial	241		195		484		391
Other specialty	62		67		122		129
Total premiums earned	1,585		1,507		3,131		2,944
Net investment income	189		191		394		398
Other income	2		3		4		8
Total property and casualty insurance	1,776		1,701		3,529		3,350
Other	126		141		265		278
Total revenues before realized gains (losses)	1,902		1,842		3,794		3,628
Realized gains (losses) on securities	(2)		(2)		12		(48)
Total revenues	$	1,900	$	1,840	$	3,806	$	3,580
Earnings Before Income Taxes
Property and casualty insurance:
Underwriting:
Specialty
Property and transportation	$	39	$	32	$	95	$	75
Specialty casualty	108		95		182		183
Specialty financial	25		10		58		36
Other specialty	(21)		(14)		(30)		(16)
Other lines	(1)		1		(2)		—
Total underwriting	150		124		303		278
Investment and other income, net	169		175		356		371
Total property and casualty insurance	319		299		659		649
Other (*)	(46)		(42)		(96)		(82)
Total earnings before realized gains (losses) and income taxes	273		257		563		567
Realized gains (losses) on securities	(2)		(2)		12		(48)
Total earnings before income taxes	$	271	$	255	$	575	$	519

(*)Includes holding company interest and expenses, which includes a loss of $1 million and a gain of $1 million on retirement of debt in the second quarter and first six months of 2023, respectively.