Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Components Of Deferred Tax Assets And Liabilities

The significant components of deferred tax assets and liabilities included in the consolidated balance sheets at December 31 were as follows:

(In millions)	At December 31,
	2013		2012
Deferred tax assets:
Loss and loss expense reserves	$	206	$	202
Unearned premiums	137		124
Investments	19		31
Other	46		39
Total	408		396
Deferred tax liabilities:
Unrealized investment gains, net and other	807		605
Deferred acquisition costs	178		163
Life policy reserves	86		65
Other	10		16
Total	1,081		849
Net deferred tax liability	$	673	$	453

Differences Between The 35 Percent Statutory Income Tax Rate And Effective Income Tax Rate

The differences between the 35 percent statutory income tax rate and our effective income tax rate were as follows:

(Dollars in millions)	Years ended December 31,
	2013					2012					2011
Tax at statutory rate:	$	250		35.0	%	$	198		35.0	%	$	61		35.0	%
Increase (decrease) resulting from:
Tax-exempt income from municipal bonds	(32		)	(4.5	)	(33		)	(5.9	)	(35		)	(20.0	)
Dividend received exclusion	(26		)	(3.6	)	(24		)	(4.2	)	(20		)	(11.7	)
Other	5			0.7		4			0.7		3			1.9
Provision for income taxes	$	197		27.6	%	$	145		25.6	%	$	9		5.2	%