Segment Information

9 Months Ended

Sep. 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. In addition, in the third quarter of 2015, we began including results of our new assumed reinsurance operation in Other. 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 September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Revenues:
Commercial lines insurance
Commercial casualty	$	257		$	237		$	753		$	695
Commercial property	205			186			604			537
Commercial auto	141			133			416			391
Workers' compensation	93			93			276			280
Other commercial	61			71			186			223
Commercial lines insurance premiums	757			720			2,235			2,126
Fee revenues	1			1			3			3
Total commercial lines insurance	758			721			2,238			2,129
Personal lines insurance
Personal auto	128			121			376			354
Homeowner	117			110			345			330
Other personal	32			32			96			91
Personal lines insurance premiums	277			263			817			775
Fee revenues	1			1			2			2
Total personal lines insurance	278			264			819			777
Excess and surplus lines insurance	42			42			124			109
Fee revenues	—			—			1			—
Total excess and surplus lines insurance	42			42			125			109
Life insurance premiums	51			46			156			147
Separate account investment management fees	2			1			4			4
Total life insurance	53			47			160			151
Investments
Investment income, net of expenses	143			138			422			409
Realized investment gains, net	3			65			110			101
Total investment revenue	146			203			532			510
Other	1			3			5			7
Total revenues	$	1,278		$	1,280		$	3,879		$	3,683
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	121		$	67		$	244		$	97
Personal lines insurance	(2		)	14			(30		)	(33		)
Excess and surplus lines insurance	14			13			29			22
Life insurance	1			(4		)	(1		)	(5		)
Investments	125			182			468			448
Other	(16		)	(13		)	(45		)	(44		)
Total income before income taxes	$	243		$	259		$	665		$	485

Identifiable assets:	September 30, 2015		December 31, 2014
Property casualty insurance	$	2,568	$	2,656
Life insurance	1,328		1,316
Investments	14,476		14,441
Other	379		340
Total	$	18,751	$	18,753