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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Property and casualty insurance net earned premiums $ 1,200 $ 1,161 $ 2,373 $ 2,268
Life, accident and health net earned premiums 5 6 11 12
Net investment income 580 530 1,122 1,025
Realized gains (losses) on securities 56 31 240 (62)
Income (loss) of managed investment entities:        
Investment income 70 64 139 122
Loss on change in fair value of assets/liabilities (2) (2) (2) (5)
Other income 51 43 101 92
Total revenues 1,960 1,833 3,984 3,452
Costs and Expenses:        
Property and casualty insurance: Losses and loss adjustment expenses 723 693 1,415 1,334
Property and casualty insurance: Commissions and other underwriting expenses 426 400 825 781
Annuity benefits 339 260 650 442
Life, accident and health benefits 8 11 17 22
Annuity and supplemental insurance acquisition expenses 33 50 61 132
Interest charges on borrowed money 17 16 33 31
Expenses of managed investment entities 59 54 114 102
Other expenses 96 89 197 174
Total costs and expenses 1,701 1,573 3,312 3,018
Earnings before income taxes 259 260 672 434
Provision for income taxes 50 52 137 85
Net earnings, including noncontrolling interests 209 208 535 349
Less: Net earnings (losses) attributable to noncontrolling interests (1) (2) (4) (6)
Net Earnings Attributable to Shareholders $ 210 $ 210 $ 539 $ 355
Earnings Attributable to Shareholders per Common Share:        
Basic (USD per share) $ 2.34 $ 2.36 $ 6.02 $ 3.99
Diluted (USD per share) $ 2.31 $ 2.31 $ 5.94 $ 3.92
Average number of Common Shares:        
Basic (shares) 89.7 89.0 89.6 88.8
Diluted (shares) 91.0 90.7 90.8 90.5
Supplemental disclosure of Realized gains on securities:        
Realized gains (losses) before impairments $ 58 $ 31 $ 244 $ (61)
Losses on securities with impairment (2) 0 (4) (1)
Non-credit portion recognized in other comprehensive income (loss) 0 0 0 0
Impairment charges recognized in earnings (2) 0 (4) (1)
Total realized gains (losses) on securities $ 56 $ 31 $ 240 $ (62)