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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Property and casualty insurance net earned premiums $ 1,507 $ 1,393 $ 2,944 $ 2,695
Net investment income 198 168 415 398
Realized gains (losses) on:        
Realized gains (losses) on securities (2) (93) (48) (108)
Income of managed investment entities:        
Investment income 112 54 216 100
Gain (loss) on change in fair value of assets/liabilities 0 (15) (4) (20)
Other income 25 32 57 62
Total revenues 1,840 1,539 3,580 3,127
Property and casualty insurance:        
Losses and loss adjustment expenses 905 774 1,725 1,467
Commissions and other underwriting expenses 485 432 958 846
Interest charges on borrowed money 19 23 38 46
Expenses of managed investment entities 103 47 198 86
Other expenses 73 57 142 115
Total costs and expenses 1,585 1,333 3,061 2,560
Earnings before income taxes 255 206 519 567
Provision for income taxes 55 39 107 110
Net Earnings $ 200 $ 167 $ 412 $ 457
Earnings per Common Share:        
Basic (USD per share) $ 2.35 $ 1.97 $ 4.84 $ 5.37
Diluted (USD per share) $ 2.34 $ 1.96 $ 4.83 $ 5.36
Average number of Common Shares:        
Basic (shares) 85.1 85.1 85.2 85.1
Diluted (shares) 85.2 85.3 85.3 85.3