Segment Information

6 Months Ended

Jun. 30, 2022

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 2021 Annual Report on Form 10-K, Item 8, Note 18, Segment Information, Page 172, 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,
	2022		2021		2022		2021
Revenues:
Commercial lines insurance
Commercial casualty	$	350	$	312	$	686	$	615
Commercial property	280		259		554		512
Commercial auto	210		198		415		391
Workers' compensation	68		68		136		135
Other commercial	86		74		165		144
Commercial lines insurance premiums	994		911		1,956		1,797
Fee revenues	1		1		2		2
Total commercial lines insurance	995		912		1,958		1,799
Personal lines insurance
Personal auto	155		152		307		305
Homeowner	202		178		397		352
Other personal	56		52		111		101
Personal lines insurance premiums	413		382		815		758
Fee revenues	1		1		2		2
Total personal lines insurance	414		383		817		760
Excess and surplus lines insurance	124		95		236		184
Fee revenues	—		1		1		1
Total excess and surplus lines insurance	124		96		237		185
Life insurance premiums	76		79		148		148
Fee revenues	1		1		2		2
Total life insurance	77		80		150		150
Investments
Investment income, net of expenses	195		175		380		349
Investment gains and losses, net	(1,154)		520		(1,820)		1,024
Total investment revenue	(959)		695		(1,440)		1,373
Other
Premiums	166		126		308		250
Other	3		3		5		5
Total other revenues	169		129		313		255
Total revenues	$	820	$	2,295	$	2,035	$	4,522
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	(62)	$	145	$	14	$	275
Personal lines insurance	(49)		29		16		26
Excess and surplus lines insurance	19		10		35		18
Life insurance	13		(2)		11		(4)
Investments	(987)		668		(1,495)		1,320
Other	25		22		18		5
Total income (loss) before income taxes	$	(1,041)	$	872	$	(1,401)	$	1,640

Identifiable assets:	June 30, 2022		December 31, 2021
Property casualty insurance	$	4,945	$	4,421
Life insurance	1,486		1,590
Investments	21,590		24,481
Other	1,171		895
Total	$	29,192	$	31,387