Investments (Tables)

9 Months Ended

Sep. 30, 2013

Investments [Abstract]

Analysis Of Cost Or Amortized Cost, Gross Unrealized Gains And Losses And Fair Value for Investments

The following table provides cost or amortized cost, gross unrealized gains, gross unrealized losses and fair value for our invested assets:

(In millions)	Cost or
	amortized		Gross unrealized				Fair
At September 30, 2013	cost		gains		losses		value
Fixed maturities:
States, municipalities and political subdivisions	$	3,046	$	146	$	17	$	3,175
Convertibles and bonds with warrants attached	16		—		—		16
United States government	7		—		—		7
Government-sponsored enterprises	209		—		19		190
Foreign government	10		—		—		10
Commercial mortgage-backed securities	79		—		3		76
Corporate securities	5,135		454		25		5,564
Subtotal	8,502		600		64		9,038
Equity securities:
Common equities	2,394		1,482		3		3,873
Preferred equities	77		34		—		111
Subtotal	2,471		1,516		3		3,984
Total	$	10,973	$	2,116	$	67	$	13,022
At December 31, 2012
Fixed maturities:
States, municipalities and political subdivisions	$	3,040	$	250	$	1	$	3,289
Convertibles and bonds with warrants attached	31		—		—		31
United States government	7		1		—		8
Government-sponsored enterprises	164		—		—		164
Foreign government	3		—		—		3
Commercial mortgage-backed securities	27		1		—		28
Corporate securities	4,950		622		2		5,570
Subtotal	8,222		874		3		9,093
Equity securities:
Common equities	2,270		977		9		3,238
Preferred equities	99		37		1		135
Subtotal	2,369		1,014		10		3,373
Total	$	10,591	$	1,888	$	13	$	12,466

Fair Values And Unrealized Losses by Investment Category And By The Duration Of The Securities' Continuous Unrealized Loss Position

The table below provides fair values and unrealized losses by investment category and by the duration of the securities’ continuous unrealized loss position:

(In millions)	Less than 12 months				12 months or more				Total		Total
	Fair		Unrealized		Fair		Unrealized		fair		unrealized
At September 30, 2013	value		losses		value		losses		value		losses
Fixed maturities:
States, municipalities and political    subdivisions	$	371	$	17	$	8	$	—	$	379	$	17
United States government	1		—		—		—		1		—
Government-sponsored enterprises	190		19		—		—		190		19
Foreign government	9		—		—		—		9		—
Commercial mortgage-backed securities	62		3		—		—		62		3
Corporate securities	526		22		35		3		561		25
Subtotal	1,159		61		43		3		1,202		64
Equity securities:
Common equities	74		3		—		—		74		3
Preferred equities	4		—		—		—		4		—
Subtotal	78		3		—		—		78		3
Total	$	1,237	$	64	$	43	$	3	$	1,280	$	67
At December 31, 2012
Fixed maturities:
States, municipalities and political    subdivisions	$	53	$	1	$	—	$	—	$	53	$	1
Government-sponsored enterprises	1		—		—		—		1		—
Corporate securities	58		1		17		1		75		2
Subtotal	112		2		17		1		129		3
Equity securities:
Common equities	107		9		—		—		107		9
Preferred equities	4		1		—		—		4		1
Subtotal	111		10		—		—		111		10
Total	$	223	$	12	$	17	$	1	$	240	$	13

Investment Income, Realized Investment Gains And Losses And Change In Unrealized Investment Gains And Losses

The following table provides investment income, realized investment gains and losses, the change in unrealized investment gains and losses, and other items:

(In millions)	Three months ended September 30,						Nine months ended September 30,
	2013			2012			2013			2012
Investment income summary:
Interest on fixed maturities	$	104		$	105		$	309		$	317
Dividends on equity securities	30			28			87			81
Other investment income	1			1			2			3
Total	135			134			398			401
Less investment expenses	2			2			6			6
Total	$	133		$	132		$	392		$	395
Realized investment gains and losses summary:
Fixed maturities:
Gross realized gains	$	5		$	14		$	9		$	30
Gross realized losses	—			—			—			—
Other-than-temporary impairments	—			—			(2		)	—
Equity securities:
Gross realized gains	15			1			64			30
Gross realized losses	—			—			—			(1		)
Other-than-temporary impairments	—			(2		)	—			(32		)
Securities with embedded derivatives	—			(4		)	1			1
Other	2			1			5			1
Total	$	22		$	10		$	77		$	29
Change in unrealized gains and losses summary:
Fixed maturities	$	(28	)	$	110		$	(335	)	$	188
Equity securities	90			143			509			240
Amortization of pension actuarial loss and   prior service cost	2			2			7			5
Adjustment to deferred acquisition costs and   life policy reserves	9			(6		)	38			(21		)
Other	(2		)	—			(7		)	5
Income taxes on above	(25		)	(88		)	(74		)	(147		)
Total	$	46		$	161		$	138		$	270