Segment Information

6 Months Ended

Jun. 30, 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 June 30,						Six months ended June 30,
	2015			2014			2015			2014
Revenues:
Commercial lines insurance
Commercial casualty	$	252		$	234		$	496		$	458
Commercial property	203			180			399			351
Commercial auto	139			132			275			258
Workers' compensation	90			95			183			187
Other commercial	61			73			125			152
Commercial lines insurance premiums	745			714			1,478			1,406
Fee revenues	1			1			2			2
Total commercial lines insurance	746			715			1,480			1,408
Personal lines insurance
Personal auto	125			117			248			233
Homeowner	114			111			228			220
Other personal	33			30			64			59
Personal lines insurance premiums	272			258			540			512
Fee revenues	—			1			1			1
Total personal lines insurance	272			259			541			513
Excess and surplus lines insurance	42			34			82			67
Fee revenues	1			—			1			—
Total excess and surplus lines insurance	43			34			83			67
Life insurance premiums	52			53			105			101
Separate account investment management fees	1			1			2			3
Total life insurance	53			54			107			104
Investments
Investment income, net of expenses	140			136			279			271
Realized investment gains, net	60			14			107			36
Total investment revenue	200			150			386			307
Other	2			2			4			4
Total revenues	$	1,316		$	1,214		$	2,601		$	2,403
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	97		$	28		$	123		$	30
Personal lines insurance	(25		)	(40		)	(28		)	(47		)
Excess and surplus lines insurance	11			5			15			9
Life insurance	1			(1		)	(2		)	(1		)
Investments	178			130			343			266
Other	(14		)	(15		)	(29		)	(31		)
Total income before income taxes	$	248		$	107		$	422		$	226

Identifiable assets:	June 30, 2015		December 31, 2014
Property casualty insurance	$	2,690	$	2,656
Life insurance	1,277		1,316
Investments	14,606		14,441
Other	315		340
Total	$	18,888	$	18,753