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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Earned premiums $ 1,482 $ 1,384 $ 2,938 $ 2,717
Investment income, net of expenses 166 160 331 317
Investment gains and losses, net 1,060 364 (665) 1,027
Fee revenues 3 3 6 7
Other revenues 3 2 5 4
Total revenues 2,714 1,913 2,615 4,072
Benefits and Expenses        
Insurance losses and contract holders' benefits 1,086 936 2,089 1,796
Underwriting, acquisition and insurance expenses 464 430 920 841
Interest expense 14 13 27 26
Other operating expenses 5 4 10 12
Total benefits and expenses 1,569 1,383 3,046 2,675
Income (Loss) Before Income Taxes 1,145 530 (431) 1,397
Provision (Benefit) for Income Taxes        
Current 23 28 26 56
Deferred 213 74 (140) 218
Total provision (benefit) for income taxes 236 102 (114) 274
Net Income (Loss) $ 909 $ 428 $ (317) $ 1,123
Per Common Share        
Net income (loss)—basic $ 5.65 $ 2.62 $ (1.96) $ 6.89
Net income (loss)—diluted $ 5.63 $ 2.59 $ (1.96) $ 6.81