Segment Information

3 Months Ended

Mar. 31, 2021

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 and Cincinnati Global. See our 2020 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,
	2021		2020
Revenues:
Commercial lines insurance
Commercial casualty	$	303	$	289
Commercial property	253		249
Commercial auto	193		185
Workers' compensation	67		75
Other commercial	70		65
Commercial lines insurance premiums	886		863
Fee revenues	1		1
Total commercial lines insurance	887		864
Personal lines insurance
Personal auto	152		154
Homeowner	174		159
Other personal	50		46
Personal lines insurance premiums	376		359
Fee revenues	1		1
Total personal lines insurance	377		360
Excess and surplus lines insurance	89		78
Fee revenues	—		1
Total excess and surplus lines insurance	89		79
Life insurance premiums	69		67
Fee revenues	1		—
Total life insurance	70		67
Investments
Investment income, net of expenses	174		165
Investment gains and losses, net	504		(1,725)
Total investment revenue	678		(1,560)
Other
Premiums	124		89
Other	2		2
Total other revenues	126		91
Total revenues	$	2,227	$	(99)
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	130	$	(20)
Personal lines insurance	(3)		21
Excess and surplus lines insurance	8		9
Life insurance	(2)		2
Investments	652		(1,586)
Other	(17)		(2)
Total income (loss) before income taxes	$	768	$	(1,576)

Identifiable assets:	March 31, 2021		December 31, 2020
Property casualty insurance	$	4,163	$	3,838
Life insurance	1,574		1,661
Investments	21,803		21,332
Other	773		711
Total	$	28,313	$	27,542