Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

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


(For the three months ended June 30, in millions)	Business Insurance		Bond & Specialty Insurance		Personal Insurance		Total Reportable Segments

2021
Premiums	$	3,880	$	776	$	2,960	$	7,616
Net investment income	615		64		139		818
Fee income	97		—		7		104
Other revenues	57		7		24		88
Total segment revenues (1)	$	4,649	$	847	$	3,130	$	8,626
Segment income (1)	$	643	$	187	$	121	$	951

2020
Premiums	$	3,735	$	693	$	2,527	$	6,955
Net investment income	180		42		46		268
Fee income	108		—		6		114
Other revenues	36		5		10		51
Total segment revenues (1)	$	4,059	$	740	$	2,589	$	7,388
Segment income (loss) (1)	$	(58)	$	72	$	10	$	24

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


(For the six months ended June 30, in millions)	Business Insurance		Bond & Specialty Insurance		Personal Insurance		Total Reportable Segments
2021
Premiums	$	7,679	$	1,519	$	5,804	$	15,002
Net investment income	1,138		123		258		1,519
Fee income	192		—		13		205
Other revenues	110		12		47		169
Total segment revenues (1)	$	9,119	$	1,654	$	6,122	$	16,895
Segment income (1)	$	960	$	324	$	435	$	1,719

2020
Premiums	$	7,599	$	1,360	$	5,225	$	14,184
Net investment income	633		97		149		879
Fee income	210		—		12		222
Other revenues	67		10		32		109
Total segment revenues (1)	$	8,509	$	1,467	$	5,418	$	15,394
Segment income (1)	$	231	$	194	$	346	$	771

(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 June 30,				Six Months Ended June 30,
(in millions)	2021		2020		2021		2020
Revenue reconciliation
Earned premiums
Business Insurance:
Domestic:
Workers’ compensation	$	810	$	818	$	1,621	$	1,717
Commercial automobile	709		676		1,404		1,360
Commercial property	556		514		1,087		1,022
General liability	618		580		1,225		1,181
Commercial multi-peril	899		883		1,769		1,769
Other	14		11		28		23
Total Domestic	3,606		3,482		7,134		7,072
International	274		253		545		527
Total Business Insurance	3,880		3,735		7,679		7,599
Bond & Specialty Insurance:
Domestic:
Fidelity and surety	276		271		542		528
General liability	347		296		678		583
Other	55		60		111		118
Total Domestic	678		627		1,331		1,229
International	98		66		188		131
Total Bond & Specialty Insurance	776		693		1,519		1,360
Personal Insurance:
Domestic:
Automobile	1,405		1,154		2,775		2,505
Homeowners and Other	1,377		1,221		2,685		2,397
Total Domestic	2,782		2,375		5,460		4,902
International	178		152		344		323
Total Personal Insurance	2,960		2,527		5,804		5,225
Total earned premiums	7,616		6,955		15,002		14,184
Net investment income	818		268		1,519		879
Fee income	104		114		205		222
Other revenues	88		51		169		109
Total segment revenues	8,626		7,388		16,895		15,394
Other revenues	—		—		—		—
Net realized investment gains (losses)	61		13		105		(85)
Total revenues	$	8,687	$	7,401	$	17,000	$	15,309
Income reconciliation, net of tax
Total segment income	$	951	$	24	$	1,719	$	771
Interest Expense and Other (1)	(72)		(74)		(141)		(145)
Core income (loss)	879		(50)		1,578		626
Net realized investment gains (losses)	47		10		81		(66)
Impact of changes in tax laws and/or tax rates (2)	8		—		8		—
Net income (loss)	$	934	$	(40)	$	1,667	$	560

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(1) The primary component of Interest Expense and Other was after-tax interest expense of $65 million and $67 million for the three months ended June 30, 2021 and 2020, respectively, and $130 million and $133 million for the six months ended June 30, 2021 and 2020, respectively.

(2) Impact is recognized in the accounting period in which the change is enacted.

Asset reconciliation [Table Text Block]


(in millions)	June 30, 2021		December 31, 2020
Asset reconciliation
Business Insurance	$	90,219	$	88,422
Bond & Specialty Insurance	10,073		9,420
Personal Insurance	18,846		18,328
Total assets by reportable segment	119,138		116,170
Other assets (1)	621		594
Total consolidated assets	$	119,759	$	116,764

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(1)The primary components of other assets at both June 30, 2021 and December 31, 2020 were accrued over-funded benefit plan assets related to the Company’s qualified domestic pension plan and other intangible assets.