Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

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
2023
Premiums	$	4,644	$	911	$	3,661	$	9,216
Net investment income	509		78		125		712
Fee income	98		—		8		106
Other revenues	67		7		25		99
Total segment revenues (1)	$	5,318	$	996	$	3,819	$	10,133
Segment income (loss) (1)	$	402	$	230	$	(538)	$	94

2022
Premiums	$	4,218	$	851	$	3,248	$	8,317
Net investment income	521		64		122		707
Fee income	93		—		7		100
Other revenues	85		4		18		107
Total segment revenues (1)	$	4,917	$	919	$	3,395	$	9,231
Segment income (loss) (1)	$	666	$	228	$	(193)	$	701

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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 six months ended June 30, in millions)	Business Insurance		Bond & Specialty Insurance		Personal Insurance		Total Reportable Segments
2023
Premiums	$	9,121	$	1,786	$	7,163	$	18,070
Net investment income	982		151		242		1,375
Fee income	197		—		15		212
Other revenues	114		12		48		174
Total segment revenues (1)	$	10,414	$	1,949	$	7,468	$	19,831
Segment income (loss) (1)	$	1,158	$	437	$	(455)	$	1,140

2022
Premiums	$	8,289	$	1,671	$	6,371	$	16,331
Net investment income	989		123		232		1,344
Fee income	189		—		14		203
Other revenues	138		8		39		185
Total segment revenues (1)	$	9,605	$	1,802	$	6,656	$	18,063
Segment income (1)	$	1,335	$	445	$	32	$	1,812

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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)	2023		2022		2023		2022
Revenue reconciliation
Earned premiums
Business Insurance:
Domestic:
Workers’ compensation	$	858	$	864	$	1,708	$	1,694
Commercial automobile	798		735		1,559		1,448
Commercial property	760		638		1,469		1,246
General liability	748		700		1,508		1,388
Commercial multi-peril	1,145		1,010		2,245		1,977
Other	16		16		34		33
Total Domestic	4,325		3,963		8,523		7,786
International	319		255		598		503
Total Business Insurance	4,644		4,218		9,121		8,289
Bond & Specialty Insurance:
Domestic:
Fidelity and surety	325		295		631		569
General liability	406		385		804		758
Other	57		54		111		109
Total Domestic	788		734		1,546		1,436
International	123		117		240		235
Total Bond & Specialty Insurance	911		851		1,786		1,671
Personal Insurance:
Domestic:
Automobile	1,688		1,511		3,312		2,969
Homeowners and Other	1,814		1,570		3,538		3,066
Total Domestic	3,502		3,081		6,850		6,035
International	159		167		313		336
Total Personal Insurance	3,661		3,248		7,163		6,371
Total earned premiums	9,216		8,317		18,070		16,331
Net investment income	712		707		1,375		1,344
Fee income	106		100		212		203
Other revenues	99		107		174		185
Total segment revenues	10,133		9,231		19,831		18,063

Net realized investment losses	(35)		(95)		(29)		(118)
Total revenues	$	10,098	$	9,136	$	19,802	$	17,945
Income reconciliation, net of tax
Total segment income	$	94	$	701	$	1,140	$	1,812
Interest Expense and Other (1)	(79)		(76)		(155)		(150)
Core income	15		625		985		1,662
Net realized investment losses	(29)		(74)		(24)		(93)

Net income (loss)	$	(14)	$	551	$	961	$	1,569

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(1)The primary component of Interest Expense and Other was after-tax interest expense of $72 million and $69 million for the three months ended June 30, 2023 and 2022, respectively, and $142 million and $138 million for the six months ended June 30, 2023 and 2022, respectively.

Asset reconciliation [Table Text Block]


(in millions)	June 30, 2023		December 31, 2022
Asset reconciliation
Business Insurance	$	89,737	$	86,522
Bond & Specialty Insurance	10,926		10,119
Personal Insurance	19,076		18,275
Total assets by reportable segment	119,739		114,916
Other assets (1)	834		801
Total consolidated assets	$	120,573	$	115,717

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(1)The primary components of other assets at both June 30, 2023 and December 31, 2022 were the over-funded benefit plan assets related to the Company’s qualified domestic pension plan and other intangible assets.