Segment Information

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

We operate primarily in two industries, property casualty insurance and life insurance. We regularly review our reporting segments to make decisions about allocating resources and assessing performance:

• Commercial lines property casualty insurance

• Personal lines property casualty insurance

• Excess and surplus lines property casualty insurance

• Life insurance

• Investments

We report as Other the noninvestment operations of the parent company and its noninsurer subsidiary, CFC Investment Company. See our 2012 Annual Report on Form 10-K, Item 8, Note 18, Segment Information, Page 137, for a description of revenue, income or loss before income taxes and identifiable assets for each of the five segments.

Segment information is summarized in the following table: 

(In millions)	Three months ended June 30,						Six months ended June 30,
	2013			2012			2013			2012
Revenues:
Commercial lines insurance
Commercial casualty	$	211		$	191		$	415		$	372
Commercial property	152			134			299			265
Commercial auto	117			106			231			207
Workers' compensation	87			85			175			166
Specialty packages	37			37			76			75
Surety and executive risk	30			27			59			54
Machinery and equipment	11			10			21			19
Commercial lines insurance premiums	645			590			1,276			1,158
Fee revenue	1			1			1			2
Total commercial lines insurance	646			591			1,277			1,160
Personal lines insurance
Personal auto	109			100			216			198
Homeowner	99			87			195			171
Other personal lines	29			27			57			54
Personal lines insurance premiums	237			214			468			423
Fee revenue	1			1			1			1
Total personal lines insurance	238			215			469			424
Excess and surplus lines insurance	28			22			55			43
Life insurance	44			51			86			92
Separate account investment management fees	1			—			2			—
Total life insurance	45			51			88			92
Investment operations
Investment income, net of expenses	131			132			259			263
Realized investment gains, net	14			6			55			19
Total investment revenue	145			138			314			282
Other	2			3			4			5
Total revenues	$	1,104		$	1,020		$	2,207		$	2,006
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	34		$	(20	)	$	92		$	14
Personal lines insurance	(1		)	(55		)	19			(77		)
Excess and surplus lines insurance	1			(2		)	1			(5		)
Life insurance	3			2			10			(1		)
Investment operations	127			118			275			241
Other	(16		)	(14		)	(32		)	(31		)
Total	$	148		$	29		$	365		$	141

Identifiable assets:	June 30, 2013		December 31, 2012
Property casualty insurance	$	2,489	$	2,395
Life insurance	1,254		1,201
Investment operations	12,983		12,599
Other	308		353
Total	$	17,034	$	16,548