Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

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

2022
Premiums	$	4,353	$	877	$	3,385	$	8,615
Net investment income	426		65		102		593
Fee income	96		—		8		104
Other revenues	56		6		22		84
Total segment revenues (1)	$	4,931	$	948	$	3,517	$	9,396
Segment income (loss) (1)	$	471	$	242	$	(111)	$	602

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

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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 excludes 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
2022
Premiums	$	12,642	$	2,548	$	9,756	$	24,946
Net investment income	1,415		188		334		1,937
Fee income	285		—		22		307
Other revenues	194		14		61		269
Total segment revenues (1)	$	14,536	$	2,750	$	10,173	$	27,459
Segment income (loss) (1)	$	1,806	$	687	$	(79)	$	2,414

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

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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)	2022		2021		2022		2021
Revenue reconciliation
Earned premiums
Business Insurance:
Domestic:
Workers’ compensation	$	872	$	789	$	2,566	$	2,410
Commercial automobile	754		718		2,202		2,122
Commercial property	668		582		1,914		1,669
General liability	728		662		2,116		1,887
Commercial multi-peril	1,057		939		3,034		2,708
Other	19		17		52		45
Total Domestic	4,098		3,707		11,884		10,841
International	255		263		758		808
Total Business Insurance	4,353		3,970		12,642		11,649
Bond & Specialty Insurance:
Domestic:
Fidelity and surety	307		277		876		819
General liability	396		365		1,154		1,043
Other	57		54		166		165
Total Domestic	760		696		2,196		2,027
International	117		110		352		298
Total Bond & Specialty Insurance	877		806		2,548		2,325
Personal Insurance:
Domestic:
Automobile	1,575		1,445		4,544		4,220
Homeowners and Other	1,648		1,437		4,714		4,122
Total Domestic	3,223		2,882		9,258		8,342
International	162		171		498		515
Total Personal Insurance	3,385		3,053		9,756		8,857
Total earned premiums	8,615		7,829		24,946		22,831
Net investment income	593		771		1,937		2,290
Fee income	104		97		307		302
Other revenues	84		100		269		269
Total segment revenues	9,396		8,797		27,459		25,692

Net realized investment gains (losses)	(93)		8		(211)		113
Total revenues	$	9,303	$	8,805	$	27,248	$	25,805
Income reconciliation, net of tax
Total segment income	$	602	$	730	$	2,414	$	2,449
Interest Expense and Other (1)	(76)		(75)		(226)		(216)
Core income	526		655		2,188		2,233
Net realized investment gains (losses)	(72)		7		(165)		88
Impact of changes in tax laws and/or tax rates (2)	—		—		—		8
Net income	$	454	$	662	$	2,023	$	2,329

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(1)The primary component of Interest Expense and Other was after-tax interest expense of $70 million and $69 million for the three months ended September 30, 2022 and 2021, respectively, and $208 million and $199 million for the nine months ended September 30, 2022 and 2021, respectively.

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

Asset reconciliation [Table Text Block]


(in millions)	September 30, 2022		December 31, 2021
Asset reconciliation
Business Insurance	$	85,149	$	90,353
Bond & Specialty Insurance	10,128		10,146
Personal Insurance	18,069		18,983
Total assets by reportable segment	113,346		119,482
Other assets (1)	971		984
Total consolidated assets	$	114,317	$	120,466

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(1)The primary components of other assets at both September 30, 2022 and December 31, 2021 were the over-funded benefit plan assets related to the Company’s qualified domestic pension plan and other intangible assets.