Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

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,
	2017		2016
Deferred tax assets:
Loss and loss expense reserves	$	123	$	199
Unearned premiums	100		158
Investments	—		5
Other	27		52
Total gross deferred tax assets	250		414
Deferred tax liabilities:
Unrealized investment gains and other, net	740		907
Deferred acquisition costs	123		195
Life policy reserves	111		162
Investments	10		—
Other	11		15
Total gross deferred tax liabilities	995		1,279
Net deferred income tax liability	$	745	$	865

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,
	2017					2016					2015
Tax at statutory rate:	$	256		35.0	%	$	284		35.0	%	$	308		35.0	%
Increase (decrease) resulting from:
Tax-exempt income from municipal bonds	(36		)	(4.9	)	(34		)	(4.2	)	(33		)	(3.7	)
Dividend received exclusion	(34		)	(4.7	)	(33		)	(4.1	)	(32		)	(3.6	)
Deferred tax benefit due to tax rate change	(495		)	(67.8	)	—			—		—			—
Other	(6		)	(0.8	)	4			0.5		4			0.3
Provision for income taxes	$	(315	)	(43.2	)%	$	221		27.2	%	$	247		28.0	%