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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Property and casualty insurance net earned premiums $ 1,855 $ 1,767 $ 4,799 $ 4,462
Net investment income 168 151 583 549
Realized gains (losses) on:        
Securities (19) (35) (67) (143)
Subsidiary (4) 0 (4) 0
Income of managed investment entities:        
Investment income 105 75 321 175
Gain (loss) on change in fair value of assets/liabilities 16 (5) 12 (25)
Other income 43 31 100 93
Total revenues 2,164 1,984 5,744 5,111
Property and casualty insurance:        
Losses and loss adjustment expenses 1,239 1,176 2,964 2,643
Commissions and other underwriting expenses 497 445 1,455 1,291
Interest charges on borrowed money 19 19 57 65
Expenses of managed investment entities 105 62 303 148
Other expenses 85 72 227 187
Total costs and expenses 1,945 1,774 5,006 4,334
Earnings before income taxes 219 210 738 777
Provision for income taxes 42 45 149 155
Net Earnings $ 177 $ 165 $ 589 $ 622
Earnings per Common Share:        
Basic (USD per share) $ 2.10 $ 1.93 $ 6.93 $ 7.30
Diluted (USD per share) $ 2.09 $ 1.93 $ 6.93 $ 7.29
Average number of Common Shares:        
Basic (shares) 84.6 85.2 85.0 85.1
Diluted (shares) 84.7 85.4 85.1 85.3