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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Property and casualty insurance net earned premiums $ 1,529 $ 1,381 $ 3,952 $ 3,774
Net investment income 169 122 521 314
Realized gains (losses) on securities (17) 23 103 (197)
Realized gains (losses) on subsidiaries 0 (30) 4 (30)
Income of managed investment entities:        
Investment income 45 46 135 154
Gain (loss) on change in fair value of assets/liabilities 1 (5) 9 (21)
Other income 27 19 70 62
Total revenues 1,754 1,556 4,794 4,056
Costs and Expenses:        
Losses and loss adjustment expenses 954 963 2,335 2,441
Commissions and other underwriting expenses 417 406 1,187 1,235
Interest charges on borrowed money 24 24 71 64
Expenses of managed investment entities 37 34 115 129
Other expenses 55 89 196 192
Total costs and expenses 1,487 1,516 3,904 4,061
Earnings (loss) from continuing operations before income taxes 267 40 890 (5)
Provision (credit) for income taxes 48 (48) 164 (52)
Net earnings from continuing operations, including noncontrolling interests 219 88 726 47
Net earnings (loss) from discontinued operations 0 76 914 (20)
Net earnings, including noncontrolling interests 219 164 1,640 27
Less: Net earnings (loss) from continuing operations attributable to noncontrolling interests 0 0 0 (13)
Net Earnings Attributable to Shareholders $ 219 $ 164 $ 1,640 $ 40
Earnings (Loss) Attributable to Shareholders per Basic Common Share from:        
Basic (USD per share) from continuing operations $ 2.57 $ 1.00 $ 8.52 $ 0.67
Basic (USD per share) from discontinued operations 0 0.86 10.72 (0.22)
Basic (USD per share) 2.57 1.86 19.24 0.45
Earnings (Loss) Attributable to Shareholders per Diluted Common Share:        
Diluted (USD per share) from continuing operations) 2.56 1.00 8.45 0.66
Diluted (USD per share) from discontinued operations 0 0.86 10.66 (0.21)
Diluted (USD per share) $ 2.56 $ 1.86 $ 19.11 $ 0.45
Average number of Common Shares:        
Basic (shares) 84.8 88.2 85.2 89.4
Diluted (shares) 85.2 88.5 85.8 89.9