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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Components Of Deferred Tax Assets And Liabilities The significant components of deferred tax assets and liabilities included in the consolidated balance sheets at December 31 were as follows:
(Dollars in millions)At December 31,
20222021
Deferred tax assets:  
Unearned premiums$148 $131 
Loss and loss expense reserves106 92 
Net operating loss on international earnings28 34 
Deferred international earnings16 31 
Other55 50 
Deferred tax assets before valuation allowance353 338 
Valuation allowance for international operations31 53 
Deferred tax assets net of valuation allowance322 285 
Deferred tax liabilities:  
Investment gains and other, net 992 1,684 
Deferred acquisition costs171 155 
Life policy reserves112 116 
Investments31 38 
Other61 36 
Total gross deferred tax liabilities1,367 2,029 
Net deferred income tax liability$1,045 $1,744 
Schedule of Income before Income Tax For financial reporting purposes, income (loss) before income taxes includes the following components:
(Dollars in millions)For the years ended December 31,
202220212020
United States$(718)$3,644 $1,521 
International25 26 (22)
Total income (loss) before income taxes$(693)$3,670 $1,499 
Schedule of The Provision (Benefit) of Income Taxes The provision (benefit) for income taxes consists of:
(Dollars in millions)For the years ended December 31,
202220212020
Provision (benefit) for income taxes:
Current – United States federal$148 $248 $147 
            International— (1)— 
Total current148 247 147 
Deferred – United States federal(355)477 136 
                     International— — — 
Total deferred(355)477 136 
Total provision (benefit) for income taxes$(207)$724 $283 
Differences Between The 35 Percent Statutory Income Tax Rate And Effective Income Tax Rate The differences between the 21% statutory federal income tax rate and our effective income tax rate were as follows:
(Dollars in millions)Years ended December 31,
202220212020
Tax at statutory rate:$(146)21.0 %$771 21.0 %$315 21.0 %
Increase (decrease) resulting from:     
Tax-exempt income from municipal bonds(20)2.9 (20)(0.5)(20)(1.3)
Dividend received exclusion(21)3.0 (20)(0.5)(17)(1.1)
Release of unrecognized tax benefit(34)4.9 — — — — 
Other14 (1.9)(7)(0.3)5 0.3 
Provision (benefit) for income taxes$(207)29.9 %$724 19.7 %$283 18.9 %
Schedule of Unrecognized Tax Benefits Roll Forward The following is a tabular reconciliation of the total amounts of unrecognized tax benefits:
(Dollars in millions)Years ended December 31,
202220212020
Gross unrecognized tax benefits, January 1$34 $34 $34 
Gross increase in prior year positions— — — 
Gross decrease in prior year positions(34)— — 
Gross increase in current year positions— — — 
Settlements with tax authorities— — — 
Lapse of statute of limitations— — — 
Gross unrecognized tax benefits, December 31$— $34 $34 
Reconciliation of Cincinnati Global Valuation Allowance The following is a tabular reconciliation of the total amounts of our Cincinnati Global valuation allowance:
(Dollars in millions)Years ended December 31,
202220212020
Valuation allowance, January 1$53 $56 $41 
Current year operations(22)(3)15 
Valuation allowance, December 31$31 $53 $56