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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Property and casualty insurance net earned premiums $ 1,381 $ 1,442 $ 3,774 $ 3,815
Net investment income 572 588 1,584 1,710
Realized gains (losses) on securities 45 (18) (302) 222
Realized losses on subsidiaries (30) 0 (30) 0
Income of managed investment entities:        
Investment income 46 67 154 206
Gain (loss) on change in fair value of assets/liabilities 1 (14) (47) (16)
Other income 45 58 153 170
Total revenues 2,060 2,123 5,286 6,107
Costs and Expenses:        
Losses and loss adjustment expenses 963 944 2,441 2,359
Commissions and other underwriting expenses 406 450 1,235 1,275
Annuity benefits 203 250 905 900
Annuity and supplemental insurance acquisition  expenses 172 120 250 181
Interest charges on borrowed money 24 17 64 50
Expenses of managed investment entities 31 54 117 168
Other expenses 127 111 310 325
Total costs and expenses 1,926 1,946 5,322 5,258
Earnings (loss) before income taxes 134 177 (36) 849
Provision (credit) for income taxes (30) 34 (63) 171
Net earnings, including noncontrolling interests 164 143 27 678
Less: Net earnings (loss) attributable to noncontrolling interests 0 (4) (13) (8)
Net Earnings Attributable to Shareholders $ 164 $ 147 $ 40 $ 686
Earnings Attributable to Shareholders per Common Share:        
Basic (USD per share) $ 1.86 $ 1.64 $ 0.45 $ 7.65
Diluted (USD per share) $ 1.86 $ 1.62 $ 0.45 $ 7.55
Average number of Common Shares:        
Basic (shares) 88.2 90.0 89.4 89.7
Diluted (shares) 88.5 91.1 89.9 90.9