Segment Information

We operate primarily in two industries, property casualty insurance and life insurance. Our chief operating decision maker regularly reviews 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 and Cincinnati Re, our reinsurance assumed operations. See our 2017 Annual Report on Form 10-K, Item 8, Note 18, Segment Information, Page 164, 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,
	2018			2017			2018			2017
Revenues:
Commercial lines insurance
Commercial casualty	$	272		$	271		$	537		$	536
Commercial property	231			226			459			449
Commercial auto	166			158			327			313
Workers' compensation	85			86			165			170
Other commercial	58			55			114			109
Commercial lines insurance premiums	812			796			1,602			1,577
Fee revenues	—			1			2			2
Total commercial lines insurance	812			797			1,604			1,579

Personal lines insurance
Personal auto	153			144			304			285
Homeowner	139			128			275			253
Other personal	39			35			77			69
Personal lines insurance premiums	331			307			656			607
Fee revenues	2			1			3			3
Total personal lines insurance	333			308			659			610

Excess and surplus lines insurance	57			52			113			100
Fee revenues	1			1			1			1
Total excess and surplus lines insurance	58			53			114			101

Life insurance premiums	64			60			124			117
Fee revenues	1			1			2			3
Total life insurance	65			61			126			120

Investments
Investment income, net of expenses	154			151			304			300
Investment gains and losses, net	105			(11		)	(86		)	149
Total investment revenue	259			140			218			449

Other
Cincinnati Re insurance premiums	30			26			59			48
Other	1			1			2			2
Total other revenues	31			27			61			50
Total revenues	$	1,558		$	1,386		$	2,782		$	2,909

Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	47		$	24		$	62		$	22
Personal lines insurance	(32		)	(24		)	(41		)	(39		)
Excess and surplus lines insurance	13			19			31			37
Life insurance	8			4			10			4
Investments	235			117			170			403
Other	(7		)	(12		)	(18		)	(23		)
	$	264		$	128		$	214		$	404



Identifiable assets:	June 30, 2018		December 31, 2017
Property casualty insurance	$	3,011	$	2,863
Life insurance	1,406		1,409
Investments	16,972		17,112
Other	371		459
Total	$	21,760	$	21,843