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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 13 $ 95
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 23 17
Realized (gains) losses on investments (79) 15
Stock-based compensation 7 6
Interest credited to contract holders 27 22
Deferred income tax benefit (8) (14)
Changes in:    
Investment income receivable (1) (2)
Premiums and reinsurance receivable (269) 72
Deferred policy acquisition costs (28) (18)
Other assets (7) (4)
Loss and loss expense reserves 335 42
Life policy reserves 60 58
Unearned premiums 77 63
Other liabilities (66) (12)
Current income tax receivable/payable (80) (87)
Net cash provided by operating activities 4 253
CASH FLOWS FROM INVESTING ACTIVITIES    
Sale of fixed maturities 42 99
Call or maturity of fixed maturities 391 340
Sale of equity securities 342 60
Collection of finance receivables 14 15
Purchase of fixed maturities (645) (756)
Purchase of equity securities (100) (158)
Change in short-term investments, net   6
Investment in buildings and equipment, net (4) (11)
Investment in finance receivables (16) (12)
Change in other invested assets, net 2 2
Net cash provided by (used in) investing activities 26 (415)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of cash dividends to shareholders (127) (126)
Purchase of treasury shares   (10)
Proceeds from stock options exercised 1  
Contract holders' funds deposited 73 103
Contract holders' funds withdrawn (44) (34)
Excess tax benefits on share-based compensation 2 2
Other (7) (5)
Net cash used in financing activities (102) (70)
Net change in cash and cash equivalents (72) (232)
Cash and cash equivalents at beginning of year 385 557
Cash and cash equivalents at end of period 313 325
Supplemental disclosures of cash flow information:    
Interest paid 27 27
Income taxes paid 55 112
Non-cash activities:    
Conversion of securities   1
Equipment acquired under capital lease obligations $ 20