Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

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:

(Dollars in millions)	At December 31,
	2015		2014
Deferred tax assets:
Loss and loss expense reserves	$	191	$	197
Unearned premiums	151		145
Investments	25		16
Other	42		41
Total gross deferred tax assets	409		399
Deferred tax liabilities:
Unrealized investment gains, net	719		937
Deferred acquisition costs	187		183
Life policy reserves	137		110
Other	4		9
Total gross deferred tax liabilities	1,047		1,239
Net deferred income tax liability	$	638	$	840

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

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

(Dollars in millions)	Years ended December 31,
	2015					2014					2013
Tax at statutory rate:	$	308		35.0	%	$	252		35.0	%	$	250		35.0	%
Increase (decrease) resulting from:
Tax-exempt income from municipal bonds	(33		)	(3.7	)	(33		)	(4.6	)	(32		)	(4.5	)
Dividend received exclusion	(32		)	(3.6	)	(29		)	(4.0	)	(26		)	(3.6	)
Other	4			0.3		6			0.8		5			0.7
Provision for income taxes	$	247		28.0	%	$	196		27.2	%	$	197		27.6	%