Segment Information

3 Months Ended

Mar. 31, 2015

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. Our reporting segments are:

• Commercial lines insurance

• Personal lines insurance

• Excess and surplus lines insurance

• Life insurance

• Investments

We report as Other the noninvestment operations of the parent company and its noninsurer subsidiary, CFC Investment Company. See our 2014 Annual Report on Form 10-K, Item 8, Note 18, Segment Information, Page 157, 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: 

(Dollars in millions)	Three months ended March 31,
	2015			2014
Revenues:
Commercial lines insurance
Commercial casualty	$	244		$	224
Commercial property	196			171
Commercial auto	136			126
Workers' compensation	93			92
Other commercial	64			79
Commercial lines insurance premiums	733			692
Fee revenues	1			1
Total commercial lines insurance	734			693
Personal lines insurance
Personal auto	123			116
Homeowner	114			109
Other personal	31			29
Personal lines insurance premiums	268			254
Fee revenues	1			—
Total personal lines insurance	269			254
Excess and surplus lines insurance	40			33
Life insurance premiums	53			48
Separate account investment management fees	1			2
Total life insurance	54			50
Investments
Investment income, net of expenses	139			135
Realized investment gains, net	47			22
Total investment revenue	186			157
Other	2			2
Total revenues	$	1,285		$	1,189
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	26		$	2
Personal lines insurance	(3		)	(7		)
Excess and surplus lines insurance	4			4
Life insurance	(3		)	—
Investments	165			136
Other	(15		)	(16		)
Total income before income taxes	$	174		$	119

Identifiable assets:	March 31, 2015		December 31, 2014
Property casualty insurance	$	2,711	$	2,656
Life insurance	1,306		1,316
Investments	14,544		14,441
Other	336		340
Total	$	18,897	$	18,753