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Consolidated Statement of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:      
Property and casualty insurance net earned premiums $ 4,224 $ 3,878 $ 3,204
Life, accident and health net earned premiums 104 108 114
Net investment income 1,633 1,501 1,346
Realized gains (losses) on:      
Securities (19) 52 221
Subsidiaries (161) 0 (4)
Income (loss) of managed investment entities:      
Investment income 155 116 128
Loss on change in fair value of assets/liabilities (34) (44) (14)
Other income 243 122 108
Total revenues 6,145 5,733 5,103
Costs and Expenses:      
Property and casualty insurance: Losses and loss adjustment expenses 2,695 2,494 2,040
Property and casualty insurance: Commissions and other underwriting expenses 1,320 1,172 1,019
Annuity benefits 732 648 531
Life, accident and health benefits 131 164 160
Annuity and supplemental insurance acquisition expenses 179 193 178
Interest charges on borrowed money 74 73 71
Expenses of managed investment entities 112 82 89
Other expenses 337 281 326
Total costs and expenses 5,580 5,107 4,414
Earnings before income taxes 565 626 689
Provision for income taxes 195 220 236
Net earnings, including noncontrolling interests 370 406 453
Less: Net earnings (loss) attributable to noncontrolling interests 18 (46) (18)
Net Earnings Attributable to Shareholders $ 352 $ 452 $ 471
Earnings Attributable to Shareholders per Common Share:      
Basic (USD per share) $ 4.02 $ 5.07 $ 5.27
Diluted (USD per share) $ 3.94 $ 4.97 $ 5.16
Average number of Common Shares:      
Basic (shares) 87.6 89.0 89.3
Diluted (shares) 89.4 91.0 91.2
Cash dividends per Common Share (USD per share) $ 2.03 $ 1.91 $ 1.805
Supplemental disclosure of Realized gains (losses) on securities:      
Realized gains before impairments $ 106 $ 88 $ 233
Losses on securities with impairment (125) (36) (14)
Non-credit portion recognized in other comprehensive income (loss) 0 0 2
Impairment charges recognized in earnings (125) (36) (12)
Total realized gains (losses) on securities $ (19) $ 52 $ 221