Segment Information

6 Months Ended

Jun. 30, 2014

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 2013 Annual Report on Form 10-K, Item 8, Note 18, Segment Information, Page 156, 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,
	2014			2013			2014			2013
Revenues:
Commercial lines insurance
Commercial casualty	$	234		$	211		$	458		$	415
Commercial property	180			152			351			299
Commercial auto	132			117			258			231
Workers' compensation	95			87			187			175
Specialty packages	30			37			66			76
Management liability and surety	31			30			62			59
Machinery and equipment	12			11			24			21
Commercial lines insurance premiums	714			645			1,406			1,276
Fee revenue	1			1			2			1
Total commercial lines insurance	715			646			1,408			1,277
Personal lines insurance
Personal auto	117			109			233			216
Homeowner	111			99			220			195
Other personal lines	30			29			59			57
Personal lines insurance premiums	258			237			512			468
Fee revenue	1			1			1			1
Total personal lines insurance	259			238			513			469
Excess and surplus lines insurance	34			28			67			55
Life insurance premiums	53			44			101			86
Separate account investment management fees	1			1			3			2
Total life insurance	54			45			104			88
Investment operations
Investment income, net of expenses	136			131			271			259
Realized investment gains, net	14			14			36			55
Total investments	150			145			307			314
Other	2			2			4			4
Total revenues	$	1,214		$	1,104		$	2,403		$	2,207
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	28		$	34		$	30		$	92
Personal lines insurance	(40		)	(1		)	(47		)	19
Excess and surplus lines insurance	5			1			9			1
Life insurance	(1		)	3			(1		)	10
Investment operations	130			127			266			275
Other	(15		)	(16		)	(31		)	(32		)
Total income before income taxes	$	107		$	148		$	226		$	365

Identifiable assets:	June 30, 2014		December 31, 2013
Property casualty insurance	$	2,636	$	2,455
Life insurance	1,263		1,225
Investment operations	14,104		13,618
Other	332		364
Total	$	18,335	$	17,662