Segment Information

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Information

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. We also report as Other the underwriting results of Cincinnati Re, our reinsurance assumed operation, and Cincinnati Global, our London-based global specialty underwriter. See our 2019 Annual Report on Form 10-K, Item 8, Note 18, Segment Information, Page 179, 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 March 31,
	2020			2019
Revenues:
Commercial lines insurance
Commercial casualty	$	289		$	268
Commercial property	249			234
Commercial auto	185			170
Workers' compensation	75			77
Other commercial	65			61
Commercial lines insurance premiums	863			810
Fee revenues	1			1
Total commercial lines insurance	864			811
Personal lines insurance
Personal auto	154			155
Homeowner	159			147
Other personal	46			42
Personal lines insurance premiums	359			344
Fee revenues	1			1
Total personal lines insurance	360			345
Excess and surplus lines insurance	78			63
Fee revenues	1			1
Total excess and surplus lines insurance	79			64
Life insurance premiums	67			66
Fee revenues	—			1
Total life insurance	67			67
Investments
Investment income, net of expenses	165			157
Investment gains and losses, net	(1,725		)	663
Total investment revenue	(1,560		)	820
Other
Premiums	89			50
Other	2			2
Total other revenues	91			52
Total revenues	$	(99	)	$	2,159
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	(20	)	$	76
Personal lines insurance	21			(4		)
Excess and surplus lines insurance	9			11
Life insurance	2			(1		)
Investments	(1,586		)	796
Other	(2		)	(11		)
Total income (loss) before income taxes	$	(1,576	)	$	867

Identifiable assets:	March 31, 2020		December 31, 2019
Property casualty insurance	$	3,444	$	3,437
Life insurance	1,517		1,516
Investments	17,699		19,583
Other	707		872
Total	$	23,367	$	25,408