Segment Information

6 Months Ended

Jun. 30, 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 June 30,				Six months ended June 30,
	2020		2019		2020		2019
Revenues:
Commercial lines insurance
Commercial casualty	$	289	$	277	$	577	$	545
Commercial property	254		234		504		468
Commercial auto	189		175		374		345
Workers' compensation	68		74		143		151
Other commercial	70		63		135		124
Commercial lines insurance premiums	870		823		1,733		1,633
Fee revenues	1		1		2		2
Total commercial lines insurance	871		824		1,735		1,635
Personal lines insurance
Personal auto	154		155		308		310
Homeowner	163		149		322		296
Other personal	47		44		93		86
Personal lines insurance premiums	364		348		723		692
Fee revenues	1		1		2		2
Total personal lines insurance	365		349		725		694
Excess and surplus lines insurance	78		67		156		130
Fee revenues	—		—		1		1
Total excess and surplus lines insurance	78		67		157		131
Life insurance premiums	79		67		146		133
Fee revenues	1		1		1		2
Total life insurance	80		68		147		135
Investments
Investment income, net of expenses	166		160		331		317
Investment gains and losses, net	1,060		364		(665)		1,027
Total investment revenue	1,226		524		(334)		1,344
Other
Premiums	91		79		180		129
Other	3		2		5		4
Total other revenues	94		81		185		133
Total revenues	$	2,714	$	1,913	$	2,615	$	4,072
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	8	$	12	$	(12)	$	88
Personal lines insurance	(43)		5		(22)		1
Excess and surplus lines insurance	(1)		17		8		28
Life insurance	1		(2)		3		(3)
Investments	1,201		499		(385)		1,295
Other	(21)		(1)		(23)		(12)
Total income (loss) before income taxes	$	1,145	$	530	$	(431)	$	1,397

Identifiable assets:	June 30, 2020		December 31, 2019
Property casualty insurance	$	3,751	$	3,437
Life insurance	1,570		1,516
Investments	19,375		19,583
Other	754		872
Total	$	25,450	$	25,408