Segment Information

3 Months Ended

Mar. 31, 2023

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 2022 Annual Report on Form 10-K, Item 8, Note 18, Segment Information, Page 173, 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,
	2023		2022
Revenues:
Commercial lines insurance
Commercial casualty	$	377	$	336
Commercial property	299		274
Commercial auto	213		205
Workers' compensation	74		67
Other commercial	93		80
Commercial lines insurance premiums	1,056		962
Fee revenues	1		1
Total commercial lines insurance	1,057		963
Personal lines insurance
Personal auto	166		152
Homeowner	232		195
Other personal	66		55
Personal lines insurance premiums	464		402
Fee revenues	1		1
Total personal lines insurance	465		403
Excess and surplus lines insurance	127		112
Fee revenues	—		1
Total excess and surplus lines insurance	127		113
Life insurance premiums	77		75
Fee revenues	2		1
Total life insurance	79		76
Investments
Investment income, net of expenses	210		185
Investment gains and losses, net	106		(666)
Total investment revenue	316		(481)
Other
Premiums	194		142
Other	3		2
Total other revenues	197		144
Total revenues	$	2,241	$	1,218
Income (loss) before income taxes:
Insurance underwriting results
Commercial lines insurance	$	(2)	$	76
Personal lines insurance	(57)		65
Excess and surplus lines insurance	13		16
Life insurance	8		7
Investments	286		(508)
Other	20		(7)
Total income (loss) before income taxes	$	268	$	(351)

Identifiable assets:	March 31, 2023		December 31, 2022
Property casualty insurance	$	5,229	$	5,178
Life insurance	1,529		1,518
Investments	22,805		22,133
Other	911		903
Total	$	30,474	$	29,732