Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Company's revenues and income by segment [Table Text Block]

(For the three months ended September 30, in millions)	Business Insurance		Bond & Specialty Insurance		Personal Insurance		Total Reportable Segments
2020
Premiums	$	3,841	$	723	$	2,816	$	7,380
Net investment income	498		58		115		671
Fee income	95		—		6		101
Other revenues	58		7		21		86
Total segment revenues (1)	$	4,492	$	788	$	2,958	$	8,238
Segment income (1)	$	365	$	115	$	392	$	872
2019
Premiums	$	3,882	$	653	$	2,644	$	7,179
Net investment income	457		59		106		622
Fee income	114		—		7		121
Other revenues	39		7		22		68
Total segment revenues (1)	$	4,492	$	719	$	2,779	$	7,990
Segment income (1)	$	179	$	139	$	131	$	449

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(1)Segment revenues for reportable business segments exclude net realized investment gains (losses) and revenues included in "interest expense and other." Segment income for reportable business segments equals net income excluding the after-tax impact of net realized investment gains (losses) and income (loss) from "interest expense and other."

(For the nine months ended September 30, in millions)	Business Insurance		Bond & Specialty Insurance		Personal Insurance		Total Reportable Segments
2020
Premiums	$	11,440	$	2,083	$	8,041	$	21,564
Net investment income	1,131		155		264		1,550
Fee income	305		—		18		323
Other revenues	125		17		53		195
Total segment revenues (1)	$	13,001	$	2,255	$	8,376	$	23,632
Segment income (1)	$	596	$	309	$	738	$	1,643
2019
Premiums	$	11,407	$	1,891	$	7,724	$	21,022
Net investment income	1,365		173		314		1,852
Fee income	329		—		17		346
Other revenues	112		19		65		196
Total segment revenues (1)	$	13,213	$	2,083	$	8,120	$	23,416
Segment income (1)	$	944	$	451	$	497	$	1,892

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(1)Segment revenues for reportable business segments exclude net realized investment gains (losses) and revenues included in "interest expense and other." Segment income for reportable business segments equals net income excluding the after-tax impact of net realized investment gains (losses) and income (loss) from "interest expense and other."

Business segment reconciliations of revenue and income, net of tax [Table Text Block]

Business Segment Reconciliations

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2020		2019		2020		2019
Revenue reconciliation
Earned premiums
Business Insurance:
Domestic:
Workers’ compensation	$	851	$	969	$	2,568	$	2,891
Commercial automobile	698		672		2,058		1,947
Commercial property	522		496		1,544		1,429
General liability	605		594		1,786		1,746
Commercial multi-peril	891		872		2,660		2,568
Other	15		12		38		29
Total Domestic	3,582		3,615		10,654		10,610
International	259		267		786		797
Total Business Insurance	3,841		3,882		11,440		11,407
Bond & Specialty Insurance:
Domestic:
Fidelity and surety	277		265		805		769
General liability	310		276		893		799
Other	60		54		178		159
Total Domestic	647		595		1,876		1,727
International	76		58		207		164
Total Bond & Specialty Insurance	723		653		2,083		1,891
Personal Insurance:
Domestic:
Automobile	1,391		1,344		3,896		3,962
Homeowners and Other	1,262		1,119		3,659		3,236
Total Domestic	2,653		2,463		7,555		7,198
International	163		181		486		526
Total Personal Insurance	2,816		2,644		8,041		7,724
Total earned premiums	7,380		7,179		21,564		21,022
Net investment income	671		622		1,550		1,852
Fee income	101		121		323		346
Other revenues	86		68		195		196
Total segment revenues	8,238		7,990		23,632		23,416
Other revenues	—		—		—		1
Net realized investment gains (losses)	37		23		(48)		101
Total revenues	$	8,275	$	8,013	$	23,584	$	23,518
Income reconciliation, net of tax
Total segment income	$	872	$	449	$	1,643	$	1,892
Interest Expense and Other (1)	(74)		(71)		(219)		(222)
Core income	798		378		1,424		1,670
Net realized investment gains (losses)	29		18		(37)		79
Net income	$	827	$	396	$	1,387	$	1,749

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(1) The primary component of Interest Expense and Other was after-tax interest expense of $69 million and $66 million for the three months ended September 30, 2020 and 2019, respectively, and $202 million and $206 million for the nine months ended September 30, 2020 and 2019, respectively.

Asset reconciliation [Table Text Block]

(in millions)	September 30, 2020		December 31, 2019
Asset reconciliation
Business Insurance	$	88,040	$	83,896
Bond & Specialty Insurance	9,483		8,599
Personal Insurance	18,230		17,015
Total assets by reportable segment	115,753		109,510
Other assets (1)	631		612
Total consolidated assets	$	116,384	$	110,122

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(1)The primary components of other assets at both September 30, 2020 and December 31, 2019 were accrued over-funded benefit plan assets related to the Company’s qualified domestic pension plan and other intangible assets.