Segment Information

9 Months Ended

Sep. 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 September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Revenues:
Commercial lines insurance
Commercial casualty	$	360	$	323	$	1,046	$	938
Commercial property	292		264		846		776
Commercial auto	213		200		627		591
Workers' compensation	73		66		209		201
Other commercial	90		77		256		221
Commercial lines insurance premiums	1,028		930		2,984		2,727
Fee revenues	1		1		3		3
Total commercial lines insurance	1,029		931		2,987		2,730
Personal lines insurance
Personal auto	158		153		465		457
Homeowner	213		184		609		536
Other personal	60		51		172		153
Personal lines insurance premiums	431		388		1,246		1,146
Fee revenues	1		1		3		3
Total personal lines insurance	432		389		1,249		1,149
Excess and surplus lines insurance	125		105		361		289
Fee revenues	1		1		2		2
Total excess and surplus lines insurance	126		106		363		291
Life insurance premiums	73		73		221		221
Fee revenues	2		1		4		3
Total life insurance	75		74		225		224
Investments
Investment income, net of expenses	193		179		573		528
Investment gains and losses, net	(674)		(70)		(2,494)		954
Total investment revenue	(481)		109		(1,921)		1,482
Other
Premiums	225		173		533		423
Other	2		3		7		8
Total other revenues	227		176		540		431
Total revenues	$	1,408	$	1,785	$	3,443	$	6,307
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	11	$	182	$	25	$	457
Personal lines insurance	(18)		(10)		(2)		16
Excess and surplus lines insurance	9		7		44		25
Life insurance	11		(5)		22		(9)
Investments	(508)		83		(2,003)		1,403
Other	(84)		(73)		(66)		(68)
Total income (loss) before income taxes	$	(579)	$	184	$	(1,980)	$	1,824

Identifiable assets:	September 30, 2022		December 31, 2021
Property casualty insurance	$	5,072	$	4,421
Life insurance	1,525		1,590
Investments	20,726		24,481
Other	876		895
Total	$	28,199	$	31,387