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Consolidated Statement of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Property and casualty insurance net earned premiums $ 6,085 $ 5,404 $ 5,099
Net investment income 717 730 461
Realized gains (losses) on:      
Securities (116) 110 (75)
Realized gains on subsidiaries 0 4 23
Income of managed investment entities:      
Investment income 268 181 201
Gain (loss) on change in fair value of assets/liabilities (31) 10 (20)
Other income 117 113 80
Total revenues 7,040 6,552 5,769
Costs and Expenses:      
Losses and loss adjustment expenses 3,629 3,157 3,271
Commissions and other underwriting expenses 1,718 1,547 1,625
Interest charges on borrowed money 85 94 88
Expenses of managed investment entities 230 155 167
Other expenses 255 264 279
Total costs and expenses 5,917 5,217 5,430
Earnings from continuing operations before income taxes 1,123 1,335 339
Provision for income taxes 225 254 25
Net earnings from continuing operations, including noncontrolling interests 898 1,081 314
Net earnings from discontinued operations 0 914 407
Net earnings, including noncontrolling interests 898 1,995 721
Less: Net earnings (loss) from continuing operations attributable to noncontrolling interests 0 0 (11)
Net Earnings Attributable to Shareholders $ 898 $ 1,995 $ 732
Earnings Attributable to Shareholders per Basic Common Share from:      
Basic (USD per share) from continuing operations $ 10.55 $ 12.70 $ 3.66
Basic (USD per share) from discontinued operations 0 10.74 4.59
Basic (USD per share) 10.55 23.44 8.25
Earnings Attributable to Shareholders per Diluted Common Share:      
Diluted (USD per share) from continuing operations 10.53 12.62 3.63
Diluted (USD per share) from discontinued operations 0 10.68 4.57
Diluted (USD per share) $ 10.53 $ 23.30 $ 8.20
Average number of Common Shares:      
Basic (shares) 85.1 85.1 88.7
Diluted (shares) 85.3 85.6 89.2