Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

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

2021
Premiums	$	3,970	$	806	$	3,053	$	7,829
Net investment income	575		63		133		771
Fee income	90		—		7		97
Other revenues	69		5		26		100
Total segment revenues (1)	$	4,704	$	874	$	3,219	$	8,797
Segment income (loss) (1)	$	558	$	174	$	(2)	$	730

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

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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 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
2021
Premiums	$	11,649	$	2,325	$	8,857	$	22,831
Net investment income	1,713		186		391		2,290
Fee income	282		—		20		302
Other revenues	179		17		73		269
Total segment revenues (1)	$	13,823	$	2,528	$	9,341	$	25,692
Segment income (1)	$	1,518	$	498	$	433	$	2,449

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

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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)	2021		2020		2021		2020
Revenue reconciliation
Earned premiums
Business Insurance:
Domestic:
Workers’ compensation	$	789	$	851	$	2,410	$	2,568
Commercial automobile	718		698		2,122		2,058
Commercial property	582		522		1,669		1,544
General liability	662		605		1,887		1,786
Commercial multi-peril	939		891		2,708		2,660
Other	17		15		45		38
Total Domestic	3,707		3,582		10,841		10,654
International	263		259		808		786
Total Business Insurance	3,970		3,841		11,649		11,440
Bond & Specialty Insurance:
Domestic:
Fidelity and surety	277		277		819		805
General liability	365		310		1,043		893
Other	54		60		165		178
Total Domestic	696		647		2,027		1,876
International	110		76		298		207
Total Bond & Specialty Insurance	806		723		2,325		2,083
Personal Insurance:
Domestic:
Automobile	1,445		1,391		4,220		3,896
Homeowners and Other	1,437		1,262		4,122		3,659
Total Domestic	2,882		2,653		8,342		7,555
International	171		163		515		486
Total Personal Insurance	3,053		2,816		8,857		8,041
Total earned premiums	7,829		7,380		22,831		21,564
Net investment income	771		671		2,290		1,550
Fee income	97		101		302		323
Other revenues	100		86		269		195
Total segment revenues	8,797		8,238		25,692		23,632

Net realized investment gains (losses)	8		37		113		(48)
Total revenues	$	8,805	$	8,275	$	25,805	$	23,584
Income reconciliation, net of tax
Total segment income	$	730	$	872	$	2,449	$	1,643
Interest Expense and Other (1)	(75)		(74)		(216)		(219)
Core income	655		798		2,233		1,424
Net realized investment gains (losses)	7		29		88		(37)
Impact of changes in tax laws and/or tax rates (2)	—		—		8		—
Net income	$	662	$	827	$	2,329	$	1,387

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(1) The primary component of Interest Expense and Other was after-tax interest expense of $69 million for both the three months ended September 30, 2021 and 2020 and $199 million and $202 million for the nine months ended September 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)	September 30, 2021		December 31, 2020
Asset reconciliation
Business Insurance	$	90,661	$	88,422
Bond & Specialty Insurance	10,313		9,420
Personal Insurance	19,028		18,328
Total assets by reportable segment	120,002		116,170
Other assets (1)	704		594
Total consolidated assets	$	120,706	$	116,764

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(1)The primary components of other assets at both September 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.