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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Property and casualty insurance net earned premiums $ 1,250 $ 1,184 $ 2,423 $ 2,393
Net investment income 164 88 352 192
Realized gains (losses) on securities 43 108 120 (220)
Realized gain on subsidiary 4 0 4 0
Income of managed investment entities:        
Investment income 44 49 90 108
Gain (loss) on change in fair value of assets/liabilities 6 (3) 8 (16)
Other income 20 19 43 43
Total revenues 1,531 1,445 3,040 2,500
Costs and Expenses:        
Losses and loss adjustment expenses 714 771 1,381 1,478
Commissions and other underwriting expenses 390 409 770 829
Interest charges on borrowed money 23 23 47 40
Expenses of managed investment entities 39 42 78 95
Other expenses 77 60 141 103
Total costs and expenses 1,243 1,305 2,417 2,545
Earnings (loss) from continuing operations before income taxes 288 140 623 (45)
Provision (credit) for income taxes 48 37 116 (4)
Net earnings (loss) from continuing operations, including noncontrolling interests 240 103 507 (41)
Net earnings (loss) from discontinued operations 762 64 914 (96)
Net earnings (loss), including noncontrolling interests 1,002 167 1,421 (137)
Less: Net earnings (loss) from continuing operations attributable to noncontrolling interests 0 (10) 0 (13)
Net Earnings (Loss) Attributable to Shareholders $ 1,002 $ 177 $ 1,421 $ (124)
Earnings (Loss) Attributable to Shareholders per Basic Common Share from:        
Basic (USD per share) from continuing operations $ 2.83 $ 1.26 $ 5.94 $ (0.31)
Basic (USD per share) from discontinued operations 8.95 0.72 10.69 (1.07)
Basic (USD per share) 11.78 1.98 16.63 (1.38)
Earnings (Loss) Attributable to Shareholders per Diluted Common Share:        
Diluted (USD per share) from continuing operations) 2.81 1.26 5.90 (0.31)
Diluted (USD per share) from discontinued operations 8.89 0.71 10.61 (1.07)
Diluted (USD per share) $ 11.70 $ 1.97 $ 16.51 $ (1.38)
Average number of Common Shares:        
Basic (shares) 85.0 89.7 85.5 90.0
Diluted (shares) 85.6 90.0 86.1 90.0