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 September 30,						Nine months ended September 30,
	2018			2017			2018			2017
Revenues:
Commercial lines insurance
Commercial casualty	$	268		$	268		$	805		$	804
Commercial property	229			225			688			674
Commercial auto	168			159			495			472
Workers' compensation	80			84			245			254
Other commercial	60			56			174			165
Commercial lines insurance premiums	805			792			2,407			2,369
Fee revenues	1			1			3			3
Total commercial lines insurance	806			793			2,410			2,372

Personal lines insurance
Personal auto	155			148			459			433
Homeowner	142			131			417			384
Other personal	41			35			118			104
Personal lines insurance premiums	338			314			994			921
Fee revenues	1			1			4			4
Total personal lines insurance	339			315			998			925

Excess and surplus lines insurance	60			53			173			153
Fee revenues	—			—			1			1
Total excess and surplus lines insurance	60			53			174			154

Life insurance premiums	61			56			185			173
Fee revenues	1			1			3			4
Total life insurance	62			57			188			177

Investments
Investment income, net of expenses	154			153			458			453
Investment gains and losses, net	458			7			372			156
Total investment revenue	612			160			830			609

Other
Cincinnati Re insurance premiums	34			32			93			80
Other	2			2			4			4
Total other revenues	36			34			97			84
Total revenues	$	1,915		$	1,412		$	4,697		$	4,321

Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	34		$	39		$	96		$	61
Personal lines insurance	(9		)	(9		)	(50		)	(48		)
Excess and surplus lines insurance	17			13			48			50
Life insurance	3			(4		)	13			—
Investments	588			136			758			539
Other	(15		)	(46		)	(33		)	(69		)
	$	618		$	129		$	832		$	533



Identifiable assets:	September 30, 2018		December 31, 2017
Property casualty insurance	$	3,129	$	2,863
Life insurance	1,418		1,409
Investments	17,457		17,112
Other	476		459
Total	$	22,480	$	21,843