Investments (Tables)

12 Months Ended

Dec. 31, 2012

Investments [Abstract]

Analysis Of Cost Or Amortized Cost, Gross Unrealized Gains And Losses And Fair Value for Investments

(In millions)			Cost or
			amortized	Gross unrealized					Fair
At December 31, 2012			cost	gains		losses			value
Fixed maturities:
	States, municipalities and political subdivisions	$	3,040	$	250	$	1	$	3,289
	Convertibles and bonds with warrants attached		31		-		-		31
	United States government		7		1		-		8
	Government-sponsored enterprises		164		-		-		164
	Foreign government		3		-		-		3
	Commercial mortgage-backed securities		27		1		-		28
	Corporate securities		4,950		622		2		5,570
	Subtotal		8,222		874		3		9,093
Equity securities:
	Common equities		2,270		977		9		3,238
	Preferred equities		99		37		1		135
	Subtotal		2,369		1,014		10		3,373
	Total	$	10,591	$	1,888	$	13	$	12,466
At December 31, 2011
Fixed maturities:
	States, municipalities and political subdivisions	$	3,006	$	246	$	-	$	3,252
	Convertibles and bonds with warrants attached		59		-		-		59
	United States government		6		1		-		7
	Government-sponsored enterprises		159		1		-		160
	Foreign government		3		-		-		3
	Corporate securities		4,851		465		18		5,298
	Subtotal		8,084		713		18		8,779
Equity securities:
	Common equities		2,088		801		35		2,854
	Preferred equities		74		28		-		102
	Subtotal		2,162		829		35		2,956
	Total	$	10,246	$	1,542	$	53	$	11,735

Fair Values And Unrealized Losses by Investment Category And By The Duration Of The Securities' Continuous Unrealized Loss Position

(In millions)			Less than 12 months				12 months or more				Total
			Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
At December 31, 2012			value		losses		value		losses		value		losses
Fixed maturities:
	States, municipalities and political subdivisions	$	53	$	1	$	-	$	-	$	53	$	1
	Government-sponsored enterprises		1		-		-		-		1		-
	Corporate securities		58		1		17		1		75		2
	Subtotal		112		2		17		1		129		3
Equity securities:
	Common equities		107		9		-		-		107		9
	Preferred equities		4		1		-		-		4		1
	Subtotal		111		10		-		-		111		10
	Total	$	223	$	12	$	17	$	1	$	240	$	13
At December 31, 2011
Fixed maturities:
	States, municipalities and political subdivisions	$	-	$	-	$	12	$	-	$	12	$	-
	United States government		1		-		-		-		1		-
	Government-sponsored enterprises		10		-		-		-		10		-
	Corporate securities		380		13		57		5		437		18
	Subtotal		391		13		69		5		460		18
Equity securities:
	Common equities		333		35		-		-		333		35
	Preferred equities		5		-		19		-		24		-
	Subtotal		338		35		19		-		357		35
	Total	$	729	$	48	$	88	$	5	$	817	$	53

Contractual Maturity Dates For Fixed-Maturity And Short-Term Investments

(Dollars in millions)		Amortized		Fair	% of fair
		cost		value	value
Maturity dates occurring:
Less than 1 year	$	588	$	598	6.6	%
Years 1 - 5		2,927		3,149	34.6
Years 6 - 10		3,511		4,002	44.0
Due after ten years		1,196		1,344	14.8
Total	$	8,222	$	9,093	100.0	%

Investment Income, Realized Investment Gains And Losses And Change In Unrealized Investment Gains And Losses

(In millions)		Years ended December 31,
		2012		2011		2010
Investment income summary:
Interest on fixed maturities	$	420	$	424	$	423
Dividends on equity securities		115		104		99
Other investment income		3		4		4
Total		538		532		526
Less investment expenses		7		7		8
Total	$	531	$	525	$	518
Realized investment gains and losses summary:
Fixed maturities:
Gross realized gains	$	35	$	11	$	25
Gross realized losses		-		-		(12)
Other-than-temporary impairments		(1)		(5)		(3)
Equity securities:
Gross realized gains		39		151		174
Gross realized losses		(2)		(40)		-
Other-than-temporary impairments		(32)		(52)		(33)
Securities with embedded derivatives		1		(1)		10
Other		2		6		(2)
Total	$	42	$	70	$	159
Change in unrealized investment gains and losses and other summary:
Fixed maturities	$	176	$	200	$	154
Equity securities		210		39		70
Adjustment to deferred acquisition costs and life policy reserves		(28)		(14)		(9)
Pension obligations		(13)		(25)		3
Other		7		3		5
Income taxes on above		(124)		(71)		(78)
Total	$	228	$	132	$	145