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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment The following tables summarize the components of the Company’s total revenues and expenses, pretax income (loss) and total assets by reportable business segment. Information provided below for “Corporate and Other” primarily relates to the operations of AFG, which will include investment income on its investment portfolio and costs to maintain the operations of AFG, including public company reporting, capital management and business development costs for the acquisition and development of new business initiatives.
Three Months Ended June 30, 2023Three Months Ended June 30, 2022
Legacy Financial Guarantee InsuranceSpecialty Property & Casualty InsuranceInsurance DistributionCorporate & Other
Consoli-dated (2)
Legacy Financial Guarantee InsuranceSpecialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherConsoli-dated (2)
Revenues:
Net premiums earned$8 $8 $15 $11 $3 $14 
Commission income$10 10 $6 6 
Program fees2 2 1 1 
Net investment income (loss)32 1 $2 35 (22)— — $1 (21)
Net investment gains (losses), including impairments(3)— — (3)7 — — 7 
Net gains (losses) on derivative contracts1 — — 28 — 1 29 
Net realized gains on extinguishment of debt— — — 57 — 57 
Other (1)
2 — — — 3 (6)— — — (6)
Total revenues (2)
39 11 10 2 62 75 4 6 2 86 
Expenses:
Losses and loss adjustment expenses 2 6 7 (14)2 (12)
Amortization of deferred acquisition costs, net— 1 1 — — — 
Commission expenses6 6 4 4 
General and administrative expenses (3)
23 4 2 6 36 23 3 2 1 29 
Depreciation expense (3)
— — — — — — — — — — 
Intangible amortization6 1 7 13 1 13 
Interest expense16 — — 16 45 45 
Total expenses (2)
47 11 9 6 73 68 5 6 1 80 
Pretax income (loss)$(8)$— $1 $(4)$(11)$7 $(1)$— $1 $6 
Total assets (2)
$7,376 $395 $137 $225 $8,132 $9,579 $229 $94 $159 $10,061 
Six Months Ended June 30, 2023Six Months Ended June 30, 2022
Legacy Financial Guarantee InsuranceSpecialty Property & Casualty InsuranceInsurance DistributionCorporate & Other
Consoli-dated (2)
Legacy Financial Guarantee InsuranceSpecialty Property & Casualty InsuranceInsurance DistributionCorporate & OtherConsoli-dated (2)
Revenues:
Net premiums earned$14 $15 $29 24 4 28 
Commission income25 25 15 15 
Program fees4 4 1 1 
Net investment income (loss)63 2 4 69 (18)1 1 (16)
Net investment gains (losses), including impairments(8)— — (8)17 — — 17 
Net gains (losses) on derivative contracts(3)— — (3)85 — 1 86 
Net realized gains on extinguishment of debt— — 57 — 57 
Other (1)
4 — — — 4 18 — — — 18 
Total revenues (2)
71 20 25 4 120 184 5 15 2 206 
Expenses:
Losses and loss adjustment expenses15 10 25 9 3 12 
Amortization of deferred acquisition costs, net— 3 3 — — — 
Commission expenses14 14 8 8 
General and administrative expenses (3)
52 8 5 7 72 44 6 3 4 58 
Depreciation expense (3)
1 — — — 1 1 — — — 1 
Intangible amortization11 2 13 26 1 28 
Interest expense$32 $32 $89 $89 
Total expenses (2)
111 21 20 8 160 170 9 13 4 197 
Pretax income (loss)(40)(1)4 (3)(40)13 (4)2 (3)9 
(1)Other revenues include the following line item on the Consolidated Statements of Total Comprehensive Income: Income (loss) on variable interest entities and other income.
(2)Inter-segment revenues and inter-segment pre-tax income (loss) amounts are insignificant and are not presented separately. Total assets noted in the Corporate and Other Column is net of AFG's investment in surplus notes issued by the Legacy Financial Guarantee Segment with fair values of $— and $61 at June 30, 2023 and 2022.
(3)The Consolidated Statements of Comprehensive Income presents the sum of these items as General & Administrative Expenses.