XML 20 R9.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Segment Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
Nature of Operations
The Company’s results are reported in the following three business segments — Business Insurance, Bond & Specialty Insurance and Personal Insurance. These segments reflect the manner in which the Company’s businesses are currently managed and represent an aggregation of products and services based on the type of customer, how the business is marketed and the manner in which risks are underwritten. For more information regarding the Company’s nature of operations, see the “Nature of Operations” section of note 1 of the notes to the consolidated financial statements in the Company’s 2023 Annual Report.
The following tables summarize the components of the Company’s revenues, income and total assets by reportable business segments:
(For the three months ended March 31, in millions) Business
Insurance		Bond & Specialty
Insurance		Personal
Insurance		Total
Reportable
Segments
2024    
Premiums$5,160 $956 $4,010 $10,126 
Net investment income609 90 147 846 
Fee income101 — 8 109 
Other revenues77 9 26 112 
Total segment revenues (1)
$5,947 $1,055 $4,191 $11,193 
Segment income (1)
$764 $195 $220 $1,179 
2023    
Premiums$4,477 $875 $3,502 $8,854 
Net investment income473 73 117 663 
Fee income99 — 7 106 
Other revenues47 5 23 75 
Total segment revenues (1)
$5,096 $953 $3,649 $9,698 
Segment income (1)
$756 $207 $83 $1,046 
________________________________________________________
(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 excludes the after-tax impact of net realized investment gains (losses) and income (loss) from “interest expense and other.”
Business Segment Reconciliations
 Three Months Ended
March 31,
(in millions)20242023
Revenue reconciliation  
Earned premiums  
Business Insurance:  
Domestic:  
Workers’ compensation$880 $850 
Commercial automobile860 761 
Commercial property873 709 
General liability847 760 
Commercial multi-peril1,270 1,100 
Other17 18 
Total Domestic4,747 4,198 
International413 279 
Total Business Insurance5,160 4,477 
Bond & Specialty Insurance:  
Domestic:  
Fidelity and surety340 306 
General liability426 398 
Other56 54 
Total Domestic822 758 
International134 117 
Total Bond & Specialty Insurance956 875 
Personal Insurance:  
Domestic:  
Automobile1,874 1,624 
Homeowners and Other1,972 1,724 
Total Domestic3,846 3,348 
International164 154 
Total Personal Insurance4,010 3,502 
Total earned premiums10,126 8,854 
Net investment income846 663 
Fee income109 106 
Other revenues112 75 
Total segment revenues11,193 9,698 
Net realized investment gains35 6 
Total revenues$11,228 $9,704 
Income reconciliation, net of tax  
Total segment income$1,179 $1,046 
Interest Expense and Other (1)
(83)(76)
Core income1,096 970 
Net realized investment gains27 5 
Net income$1,123 $975 
_________________________________________________________
(1)The primary component of Interest Expense and Other was after-tax interest expense of $77 million and $70 million for the three months ended March 31, 2024 and 2023, respectively.
(in millions)March 31,
2024		December 31,
2023
Asset reconciliation  
Business Insurance$94,393 $93,565 
Bond & Specialty Insurance12,136 11,478 
Personal Insurance20,003 20,072 
Total assets by reportable segment126,532 125,115 
Other assets (1)
878 863 
Total consolidated assets$127,410 $125,978 
 _________________________________________________________
(1)The primary components of other assets at both March 31, 2024 and December 31, 2023 were the over-funded benefit plan assets related to the Company’s qualified domestic pension plan and other intangible assets.