Significant components of the Company's continuing operations and selected balance sheet items |
The Company's results of operations and selected balance sheet items by segment are presented in the following tables. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended March 31, 2019 |
Specialty | |
Commercial | | International | | Life & Group | | Corporate & Other | | | | | (In millions) | | | | | | Eliminations | | Total | Operating revenues | | | | | | | | | | | | | |
| Net earned premiums | $ | 661 |
| | $ | 763 |
| | $ | 250 |
| | $ | 130 |
| | $ | — |
| | $ | (1 | ) | | $ | 1,803 |
| Net investment income | 155 |
| | 190 |
| | 15 |
| | 204 |
| | 7 |
| | — |
| | 571 |
| Non-insurance warranty revenue | 281 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 281 |
| Other revenues | 1 |
| | 7 |
| | — |
| | 1 |
| | 2 |
| | (2 | ) | | 9 |
| Total operating revenues | 1,098 |
| | 960 |
| | 265 |
| | 335 |
| | 9 |
| | (3 | ) | | 2,664 |
| Claims, benefits and expenses | |
| | |
| | | | |
| | |
| | |
| | |
| Net incurred claims and benefits | 392 |
| | 510 |
| | 162 |
| | 308 |
| | (21 | ) | | — |
| | 1,351 |
| Policyholders’ dividends | 1 |
| | 5 |
| | — |
| | — |
| | — |
| | — |
| | 6 |
| Amortization of deferred acquisition costs | 147 |
| | 127 |
| | 68 |
| | — |
| | — |
| | — |
| | 342 |
| Non-insurance warranty expense | 260 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 260 |
| Other insurance related expenses | 70 |
| | 130 |
| | 25 |
| | 28 |
| | (1 | ) | | (1 | ) | | 251 |
| Other expenses | 12 |
| | 11 |
| | 4 |
| | 2 |
| | 39 |
| | (2 | ) | | 66 |
| Total claims, benefits and expenses | 882 |
| | 783 |
| | 259 |
| | 338 |
| | 17 |
| | (3 | ) | | 2,276 |
| Core income (loss) before income tax | 216 |
| | 177 |
| | 6 |
| | (3 | ) | | (8 | ) | | — |
| | 388 |
| Income tax (expense) benefit on core income (loss) | (47 | ) | | (38 | ) | | — |
| | 13 |
| | 2 |
| | — |
| | (70 | ) | Core income (loss) | $ | 169 |
| | $ | 139 |
| | $ | 6 |
| | $ | 10 |
| | $ | (6 | ) | | $ | — |
| | 318 |
| Net investment gains (losses) | | | | | | | | | | | | | 31 |
| Income tax (expense) benefit on net investment gains (losses) | | | | | | | | | | | | | (7 | ) | Net investment gains (losses), after tax | | | | | | | | | | | | | 24 |
| Net income | | | | | | | | | | | | | $ | 342 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2019 | | | | | | | | | | | | | | (In millions) | | | | | | | | | | | | | | Reinsurance receivables | $ | 674 |
| | $ | 761 |
| | $ | 237 |
| | $ | 408 |
| | $ | 2,226 |
| | $ | — |
| | $ | 4,306 |
| Insurance receivables | 933 |
| | 1,234 |
| | 302 |
| | 7 |
| | — |
| | — |
| | 2,476 |
| Deferred acquisition costs | 315 |
| | 247 |
| | 102 |
| | — |
| | — |
| | — |
| | 664 |
| Goodwill | 117 |
| | — |
| | 30 |
| | — |
| | — |
| | — |
| | 147 |
| Deferred non-insurance warranty acquisition expense | 2,576 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 2,576 |
| Insurance reserves | | | | | | | | | | | | | |
| Claim and claim adjustment expenses | 5,470 |
| | 8,623 |
| | 1,787 |
| | 3,645 |
| | 2,311 |
| | — |
| | 21,836 |
| Unearned premiums | 2,201 |
| | 1,553 |
| | 528 |
| | 142 |
| | — |
| | (2 | ) | | 4,422 |
| Future policy benefits | — |
| | — |
| | — |
| | 11,078 |
| | — |
| | — |
| | 11,078 |
| Deferred non-insurance warranty revenue | 3,472 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 3,472 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended March 31, 2018 |
Specialty | |
Commercial | | International | | Life & Group | | Corporate & Other | | | | | (In millions) | | | | | Eliminations | | Total | Operating revenues | | | | | | | | | | | | | |
| Net earned premiums | $ | 672 |
| | $ | 743 |
| | $ | 236 |
| | $ | 134 |
| | $ | — |
| | $ | — |
| | $ | 1,785 |
| Net investment income | 122 |
| | 149 |
| | 14 |
| | 200 |
| | 5 |
| | — |
| | 490 |
| Non-insurance warranty revenue | 238 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 238 |
| Other revenues | 1 |
| | 8 |
| | — |
| | 1 |
| | 1 |
| | (1 | ) | | 10 |
| Total operating revenues | 1,033 |
| | 900 |
| | 250 |
| | 335 |
| | 6 |
| | (1 | ) | | 2,523 |
| Claims, benefits and expenses | |
| | | | | | |
| | | | |
| | |
| Net incurred claims and benefits | 379 |
| | 468 |
| | 142 |
| | 303 |
| | 41 |
| | — |
| | 1,333 |
| Policyholders’ dividends | 1 |
| | 5 |
| | — |
| | — |
| | — |
| | — |
| | 6 |
| Amortization of deferred acquisition costs | 145 |
| | 121 |
| | 30 |
| | — |
| | — |
| | — |
| | 296 |
| Non-insurance warranty expense | 216 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 216 |
| Other insurance related expenses | 64 |
| | 127 |
| | 56 |
| | 30 |
| | — |
| | — |
| | 277 |
| Other expenses | 11 |
| | 11 |
| | (4 | ) | | 2 |
| | 42 |
| | (1 | ) | | 61 |
| Total claims, benefits and expenses | 816 |
| | 732 |
| | 224 |
| | 335 |
| | 83 |
| | (1 | ) | | 2,189 |
| Core income (loss) before income tax | 217 |
| | 168 |
| | 26 |
| | — |
| | (77 | ) | | — |
| | 334 |
| Income tax (expense) benefit on core income (loss) | (46 | ) | | (35 | ) | | (3 | ) | | 14 |
| | 17 |
| | — |
| | (53 | ) | Core income (loss) | $ | 171 |
| | $ | 133 |
| | $ | 23 |
| | $ | 14 |
| | $ | (60 | ) | | $ | — |
| | 281 |
| Net investment gains (losses) | | | | | | | | | | | | | 12 |
| Income tax (expense) benefit on net investment gains (losses) | | | | | | | | | | | | | (2 | ) | Net investment gains (losses), after tax | | | | | | | | | | | | | 10 |
| Net income | | | | | | | | | | | | | $ | 291 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2018 | | | | | | | | | | | | | | (In millions) | | | | | | | | | | | | | | Reinsurance receivables | $ | 649 |
| | $ | 795 |
| | $ | 250 |
| | $ | 414 |
| | $ | 2,347 |
| | $ | — |
| | $ | 4,455 |
| Insurance receivables | 947 |
| | 1,277 |
| | 284 |
| | 9 |
| | (152 | ) | | — |
| | 2,365 |
| Deferred acquisition costs | 308 |
| | 230 |
| | 95 |
| | — |
| | — |
| | — |
| | 633 |
| Goodwill | 117 |
| | — |
| | 29 |
| | — |
| | — |
| | — |
| | 146 |
| Deferred non-insurance warranty acquisition expense | 2,513 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 2,513 |
| Insurance reserves | | | | | | | | | | | | | |
| Claim and claim adjustment expenses | 5,465 |
| | 8,743 |
| | 1,750 |
| | 3,601 |
| | 2,425 |
| | — |
| | 21,984 |
| Unearned premiums | 2,132 |
| | 1,454 |
| | 475 |
| | 122 |
| | — |
| | — |
| | 4,183 |
| Future policy benefits | — |
| | — |
| | — |
| | 10,597 |
| | — |
| | — |
| | 10,597 |
| Deferred non-insurance warranty revenue | 3,402 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 3,402 |
|
|