Business Segments (Tables)

12 Months Ended

Dec. 31, 2014

Significant components of the Company's continuing operations and selected balance sheet items



Year ended December 31, 2014	Specialty			Commercial			International			Life & Group Non-Core			Corporate & Other Non-Core
(In millions)	Specialty			Commercial			International			Life & Group Non-Core			Corporate & Other Non-Core			Eliminations			Total
Net written premiums	$	2,839		$	2,817		$	880		$	553		$	1		$	(2	)	$	7,088
Operating revenues
Net earned premiums	$	2,838		$	2,906		$	913		$	556		$	1		$	(2	)	$	7,212
Net investment income	560			723			61			700			23			—			2,067
Other revenues	295			38			—			16			12			(5		)	356
Total operating revenues	3,693			3,667			974			1,272			36			(7		)	9,635
Claims, Benefits and Expenses
Net incurred claims and benefits	1,627			2,187			488			1,304			(29		)	—			5,577
Policyholders’ dividends	6			8			—			—			—			—			14
Amortization of deferred acquisition costs	592			493			204			28			—			—			1,317
Other insurance related expenses	262			487			151			130			1			(2		)	1,029
Other expenses	254			31			28			30			210			(5		)	548
Total claims, benefits and expenses	2,741			3,206			871			1,492			182			(7		)	8,485
Operating income (loss) from continuing operations before income tax	952			461			103			(220		)	(146		)	—			1,150
Income tax (expense) benefit on operating income (loss)	(318		)	(154		)	(34		)	151			54			—			(301		)
Net operating income (loss) from continuing operations	634			307			69			(69		)	(92		)	—			849
Net realized investment gains (losses), pretax	15			16			(1		)	7			20			—			57
Income tax (expense) benefit on net realized investment gains (losses)	(5		)	(6		)	1			—			(8		)	—			(18		)
Net realized investment gains (losses)	10			10			—			7			12			—			39
Net income (loss) from continuing operations	$	644		$	317		$	69		$	(62	)	$	(80	)	$	—		$	888



December 31, 2014
(In millions)
Reinsurance receivables	$	567	$	690	$	207	$	525	$	2,753	$	—	$	4,742
Insurance receivables	778		954		250		13		2		—		1,997
Deferred acquisition costs	304		213		83		—		—		—		600
Goodwill	117		—		35		—		—		—		152
Insurance reserves
Claim and claim adjustment expenses	6,229		9,514		1,441		3,183		2,904		—		23,271
Unearned premiums	1,763		1,273		431		125		—		—		3,592
Future policy benefits	—		—		—		9,490		—		—		9,490
Policyholders’ funds	9		18		—		—		—		—		27



Year ended December 31, 2013	Specialty			Commercial			International			Life & Group Non-Core			Corporate & Other Non-Core
(In millions)	Specialty			Commercial			International			Life & Group Non-Core			Corporate & Other Non-Core			Eliminations			Total
Net written premiums	$	2,880		$	2,960		$	959		$	552		$	(1	)	$	(2	)	$	7,348
Operating revenues
Net earned premiums	$	2,795		$	3,004		$	916		$	559		$	(1	)	$	(2	)	$	7,271
Net investment income	629			899			60			662			32			—			2,282
Other revenues	257			96			—			(4		)	12			(2		)	359
Total operating revenues	3,681			3,999			976			1,217			43			(4		)	9,912
Claims, Benefits and Expenses
Net incurred claims and benefits	1,593			2,259			489			1,261			191			—			5,793
Policyholders’ dividends	6			7			—			—			—			—			13
Amortization of deferred acquisition costs	585			526			223			28			—			—			1,362
Other insurance related expenses	250			498			140			130			(3		)	(2		)	1,013
Other expenses	237			32			12			13			183			(2		)	475
Total claims, benefits and expenses	2,671			3,322			864			1,432			371			(4		)	8,656
Operating income (loss) from continuing operations before income tax	1,010			677			112			(215		)	(328		)	—			1,256
Income tax (expense) benefit on operating income (loss)	(342		)	(229		)	(43		)	141			118			—			(355		)
Net operating income (loss) from continuing operations	668			448			69			(74		)	(210		)	—			901
Net realized investment gains (losses), pretax	(5		)	(15		)	5			26			9			—			20
Income tax (expense) benefit on net realized investment gains (losses)	2			5			(2		)	(8		)	(3		)	—			(6		)
Net realized investment gains (losses)	(3		)	(10		)	3			18			6			—			14
Net income (loss) from continuing operations	$	665		$	438		$	72		$	(56	)	$	(204	)	$	—		$	915



December 31, 2013
(In millions)
Reinsurance receivables	$	500	$	1,024	$	294	$	1,203	$	3,067	$	—	$	6,088
Insurance receivables	732		1,019		299		11		2		—		2,063
Deferred acquisition costs	299		226		99		—		—		—		624
Goodwill	117		—		38		—		—		—		155
Insurance reserves
Claim and claim adjustment expenses	6,058		10,091		1,575		3,058		3,307		—		24,089
Unearned premiums	1,710		1,374		506		128		—		—		3,718
Future policy benefits	—		—		—		10,471		—		—		10,471
Policyholders’ funds	9		15		—		92		—		—		116



Year ended December 31, 2012	Specialty			Commercial						Life & Group Non-Core			Corporate & Other Non-Core
(In millions)	Specialty			Commercial			International^(a)			Life & Group Non-Core			Corporate & Other Non-Core			Eliminations			Total
Net written premiums	$	2,733		$	3,033		$	648		$	553		$	(1	)	$	(2	)	$	6,964
Operating revenues
Net earned premiums	$	2,709		$	2,968		$	647		$	559		$	—		$	(2	)	$	6,881
Net investment income	564			826			59			629			32			—			2,110
Other revenues	231			41			(1		)	33			16			(1		)	319
Total operating revenues	3,504			3,835			705			1,221			48			(3		)	9,310
Claims, Benefits and Expenses
Net incurred claims and benefits	1,746			2,370			361			1,255			(16		)	—			5,716
Policyholders’ dividends	2			11			—			—			—			—			13
Amortization of deferred acquisition costs	574			520			152			28			—			—			1,274
Other insurance related expenses	278			532			94			142			3			(2		)	1,047
Other expenses	207			37			7			22			183			(1		)	455
Total claims, benefits and expenses	2,807			3,470			614			1,447			170			(3		)	8,505
Operating income (loss) from continuing operations before income tax	697			365			91			(226		)	(122		)	—			805
Income tax (expense) benefit on operating income (loss)	(235		)	(120		)	(40		)	134			41			—			(220		)
Net operating income (loss) from continuing operations	462			245			51			(92		)	(81		)	—			585
Net realized investment gains (losses), pretax	18			34			7			(9		)	4			—			54
Income tax (expense) benefit on net realized investment gains (losses)	(8		)	(11		)	(1		)	3			(2		)	—			(19		)
Net realized investment gains (losses)	10			23			6			(6		)	2			—			35
Net income (loss) from continuing operations	$	472		$	268		$	57		$	(98	)	$	(79	)	$	—		$	620

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Revenues by line of business

Revenues by Line of Business



Years ended December 31
(In millions)	2014			2013			2012
Specialty
Management & Professional Liability	$	2,818		$	2,836		$	2,723
Surety	509			490			485
Warranty & Alternative Risks	381			350			314
Specialty revenues	3,708			3,676			3,522
Commercial
Middle Market	1,631			1,642			1,560
Small Business	709			754			669
Other Commercial Insurance	1,343			1,588			1,640
Commercial revenues	3,683			3,984			3,869
International
Canada	273			289			276
CNA Europe	335			326			313
Hardy	365			366			123
International revenues	973			981			712
Life & Group Non-Core revenues	1,279			1,243			1,212
Corporate & Other Non-Core revenues	56			52			52
Eliminations	(7		)	(4		)	(3		)
Total revenues	$	9,692		$	9,932		$	9,364

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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