Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024										Three Months Ended June 30, 2023
	Legacy Financial Guarantee Insurance		Specialty Property & Casualty Insurance		Insurance Distribution		Corporate & Other		Consoli-dated (2)		Legacy Financial Guarantee Insurance		Specialty Property & Casualty Insurance		Insurance Distribution		Corporate & Other		Consoli-dated (2)
Revenues:
Net premiums earned	$	6	$	27					$	33	$	8	$	8					$	15
Commission income					$	13			13						$	10			10
Program fees			3						3				2						2
Net investment income	32		1		—		$	2	36		32		1		—		$	2	35
Net investment gains (losses), including impairments	(1)		—				5		4		(3)		—				—		(3)
Net gains (losses) on derivative contracts	1						—		—		1						—		—
Other (1)	16		—		—		—		15		2		—		—		—		3
Total revenues (2)	53		32		13		6		105		39		11		10		2		62
Expenses:
Losses and loss adjustment expenses (benefit)	(5)		23						18		2		6						7
Amortization of deferred acquisition costs, net	—		5						5		—		1						1
Commission expenses					8				8						6				6
General and administrative expenses (3)	22		5		3		17		47		23		4		2		6		36
Depreciation expense (3)	—		—		—		—		1		—		—		—		—		—
Intangible amortization	7				1				8		6				1				7
Interest expense	16								16		16								16
Total expenses (2)	40		33		12		17		103		47		11		9		6		73
Pretax income (loss)	$	13	$	(1)	$	1	$	(11)	$	2	$	(8)	$	—	$	1	$	(4)	$	(11)
Total assets (2)	$	7,100	$	713	$	155	$	216	$	8,184	$	7,376	$	395	$	137	$	225	$	8,132
	Six Months Ended June 30, 2024										Six Months Ended June 30, 2023
	Legacy Financial Guarantee Insurance		Specialty Property & Casualty Insurance		Insurance Distribution		Corporate & Other		Consoli-dated (2)		Legacy Financial Guarantee Insurance		Specialty Property & Casualty Insurance		Insurance Distribution		Corporate & Other		Consoli-dated (2)
Revenues:
Net premiums earned	$	13	$	53					$	66	$	14	$	15					$	29
Commission income					$	31			$	31					$	25			$	25
Program fees			$	6					$	6			$	4					$	4
Net investment income (loss)	$	70	$	3	$	—	$	4	$	78	$	63	$	2			$	4	$	69
Net investment gains (losses), including impairments	$	—	$	—			$	5	$	4	$	(8)	$	—			$	—	$	(8)
Net gains (losses) on derivative contracts	$	2					$	—	$	2	$	(3)					$	—	$	(3)
Other (1)	$	21	$	—	$	—	$	—	$	21	$	4	$	—	$	—	$	—	$	4
Total revenues (2)	$	107	$	61	$	31	$	8	$	207	$	71	$	20	$	25	$	4	$	120
Expenses:
Losses and loss adjustment expenses	$	(26)	$	42					$	16	$	15	$	10					$	25
Amortization of deferred acquisition costs, net	$	—	$	10					$	10	$	—	$	3					$	3
Commission expenses					$	18			$	18					$	14			$	14
General and administrative expenses (3)	$	44	$	8	$	6	$	24	$	82	$	52	$	8	$	5	$	7	$	72
Depreciation expense (3)	$	—	$	—	$	—	$	1	$	1	$	1	$	—	$	—	$	—	$	1
Intangible amortization	$	18			$	2			$	21	$	11			$	2			$	13
Interest expense	$	32							$	32	$	32							$	32
Total expenses (2)	$	69	$	61	$	26	$	24	$	180	$	111	$	21	$	20	$	8	$	160
Pretax income (loss)	$	38	$	1	$	5	$	(16)	$	27	$	(40)	$	(1)	$	4	$	(3)	$	(40)

(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.

(3)The Consolidated Statements of Comprehensive Income presents the sum of these items as General & Administrative Expenses.