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Consolidating Financial Statements (Unaudited)
 12 Months Ended
Dec. 31, 2016
Consolidating Financial Statements of The Travelers Companies, Inc. and Subsidiaries (Unaudited) disclosure  
Consolidating Financial Statements of The Travelers Companies, Inc. and Subsidiaries (Unaudited) disclosure [Text Block]

18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES

        The following consolidating financial statements of the Company have been prepared pursuant to Rule 3-10 of Regulation S-X. These consolidating financial statements have been prepared from the Company's financial information on the same basis of accounting as the consolidated financial statements. The Travelers Companies, Inc. (excluding its subsidiaries, TRV) has fully and unconditionally guaranteed certain debt obligations of Travelers Property Casualty Corp. (TPC), which totaled $700 million at December 31, 2016.

        Prior to the merger of TPC and The St. Paul Companies, Inc. in 2004, TPC fully and unconditionally guaranteed the payment of all principal, premiums, if any, and interest on certain debt obligations of its wholly-owned subsidiary, Travelers Insurance Group Holdings, Inc. (TIGHI). Concurrent with the merger, TRV fully and unconditionally assumed such guarantee obligations of TPC. TPC is deemed to have no assets or operations independent of TIGHI. Consolidating financial information for TIGHI has not been presented herein because such financial information would be substantially the same as the financial information provided for TPC.

CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2016

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Revenues

                                

Premiums

   $ 16,788   $ 7,746   $ —   $ —   $ 24,534  

Net investment income

     1,569     720     13     —     2,302  

Fee income

     458     —     —     —     458  

Net realized investment gains (losses)(1)

     30     39     (1 )   —     68  

Other revenues

     248     36     —     (21 )   263  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     19,093     8,541     12     (21 )   27,625  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Claims and expenses

                                

Claims and claim adjustment expenses

     10,232     4,838     —     —     15,070  

Amortization of deferred acquisition costs

     2,702     1,283     —     —     3,985  

General and administrative expenses

     2,928     1,242     5     (21 )   4,154  

Interest expense

     48     —     315     —     363  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total claims and expenses

     15,910     7,363     320     (21 )   23,572  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) before income taxes

     3,183     1,178     (308 )   —     4,053  

Income tax expense (benefit)

     999     208     (168 )   —     1,039  

Net income of subsidiaries

     —     —     3,154     (3,154 )   —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income

   $ 2,184   $ 970   $ 3,014   $ (3,154 ) $ 3,014  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Total other-than-temporary impairments (OTTI) for the year ended December 31, 2016, and the amounts comprising total OTTI that were recognized in net realized investment gains (losses) and in other comprehensive income (OCI), were as follows:

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Total OTTI losses

   $ (19 ) $ (20 ) $ (1 ) $ —   $ (40 )

OTTI losses recognized in net realized investment gains (losses)

   $ (13 ) $ (15 ) $ (1 ) $ —   $ (29 )

OTTI losses recognized in OCI

   $ (6 ) $ (5 ) $ —   $ —   $ (11 )

CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2015

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Revenues

                                

Premiums

   $ 16,254   $ 7,620   $ —   $ —   $ 23,874  

Net investment income

     1,612     760     7     —     2,379  

Fee income

     460     —     —     —     460  

Net realized investment gains (losses)(1)

     13     (11 )   1     —     3  

Other revenues

     78     21     —     —     99  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     18,417     8,390     8     —     26,815  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Claims and expenses

                                

Claims and claim adjustment expenses

     9,208     4,515     —     —     13,723  

Amortization of deferred acquisition costs

     2,627     1,258     —     —     3,885  

General and administrative expenses

     2,853     1,225     16     —     4,094  

Interest expense

     48     —     325     —     373  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total claims and expenses

     14,736     6,998     341     —     22,075  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) before income taxes

     3,681     1,392     (333 )   —     4,740  

Income tax expense (benefit)

     1,015     394     (108 )   —     1,301  

Net income of subsidiaries

     —     —     3,664     (3,664 )   —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income

   $ 2,666   $ 998   $ 3,439   $ (3,664 ) $ 3,439  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Total other-than-temporary impairments (OTTI) for the year ended December 31, 2015, and the amounts comprising total OTTI that were recognized in net realized investment gains (losses) and in other comprehensive income (OCI), were as follows:

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Total OTTI losses

   $ (19 ) $ (35 ) $ —   $ —   $ (54 )

OTTI losses recognized in net realized investment gains (losses)

   $ (18 ) $ (34 ) $ —   $ —   $ (52 )

OTTI losses recognized in OCI

   $ (1 ) $ (1 ) $ —   $ —   $ (2 )

CONSOLIDATING STATEMENT OF INCOME (Unaudited)
For the year ended December 31, 2014

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Revenues

                                

Premiums

   $ 16,097   $ 7,616   $ —   $ —   $ 23,713  

Net investment income

     1,874     907     6     —     2,787  

Fee income

     448     2     —     —     450  

Net realized investment gains(1)

     12     64     3     —     79  

Other revenues

     125     20     —     —     145  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

     18,556     8,609     9     —     27,174  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Claims and expenses

                                

Claims and claim adjustment expenses

     9,274     4,596     —     —     13,870  

Amortization of deferred acquisition costs

     2,604     1,278     —     —     3,882  

General and administrative expenses

     2,755     1,194     15     —     3,964  

Interest expense

     48     —     321     —     369  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total claims and expenses

     14,681     7,068     336     —     22,085  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income (loss) before income taxes

     3,875     1,541     (327 )   —     5,089  

Income tax expense (benefit)

     1,095     417     (115 )   —     1,397  

Net income of subsidiaries

     —     —     3,904     (3,904 )   —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income

   $ 2,780   $ 1,124   $ 3,692   $ (3,904 ) $ 3,692  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Total other-than-temporary impairments (OTTI) for the year ended December 31, 2014, and the amounts comprising total OTTI that were recognized in net realized investment gains and in other comprehensive income (OCI), were as follows:

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Total OTTI losses

   $ (16 ) $ (6 ) $ —   $ —   $ (22 )

OTTI losses recognized in net realized investment gains

   $ (19 ) $ (7 ) $ —   $ —   $ (26 )

OTTI gains recognized in OCI

   $ 3   $ 1   $ —   $ —   $ 4  

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
For the year ended December 31, 2016

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Net income

   $ 2,184   $ 970   $ 3,014   $ (3,154 ) $ 3,014  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss):

                                

Changes in net unrealized gains on investment securities:

                                

Having no credit losses recognized in the consolidated statement of income

     (696 )   (198 )   11     —     (883 )

Having credit losses recognized in the consolidated statement of income

     11     10     —     —     21  

Net changes in benefit plan assets and obligations

     25     11     (20 )   —     16  

Net changes in unrealized foreign currency translation

     73     (114 )   —     —     (41 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive loss before income taxes and other comprehensive loss of subsidiaries

     (587 )   (291 )   (9 )   —     (887 )

Income tax benefit

     (222 )   (66 )   (1 )   —     (289 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive loss, net of taxes, before other comprehensive loss of subsidiaries

     (365 )   (225 )   (8 )   —     (598 )

Other comprehensive loss of subsidiaries

     —     —     (590 )   590     —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive loss

     (365 )   (225 )   (598 )   590     (598 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income

   $ 1,819   $ 745   $ 2,416   $ (2,564 ) $ 2,416  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
For the year ended December 31, 2015

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Net income

   $ 2,666   $ 998   $ 3,439   $ (3,664 ) $ 3,439  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss):

                                

Changes in net unrealized gains on investment securities:

                                

Having no credit losses recognized in the consolidated statement of income

     (610 )   (407 )   (3 )   —     (1,020 )

Having credit losses recognized in the consolidated statement of income

     (12 )   (2 )   —     —     (14 )

Net changes in benefit plan assets and obligations

     2     —     64     —     66  

Net changes in unrealized foreign currency translation

     (306 )   (155 )   —     —     (461 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss) before income taxes and other comprehensive loss of subsidiaries

     (926 )   (564 )   61     —     (1,429 )

Income tax expense (benefit)

     (257 )   (156 )   21     —     (392 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss), net of taxes, before other comprehensive loss of subsidiaries

     (669 )   (408 )   40     —     (1,037 )

Other comprehensive loss of subsidiaries

     —     —     (1,077 )   1,077     —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive loss

     (669 )   (408 )   (1,037 )   1,077     (1,037 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income

   $ 1,997   $ 590   $ 2,402   $ (2,587 ) $ 2,402  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
For the year ended December 31, 2014

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Net income

   $ 2,780   $ 1,124   $ 3,692   $ (3,904 ) $ 3,692  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss):

                                

Changes in net unrealized gains on investment securities:

                                

Having no credit losses recognized in the consolidated statement of income

     681     289     6     —     976  

Having credit losses recognized in the consolidated statement of income

     9     (7 )   —     —     2  

Net changes in benefit plan assets and obligations

     (15 )   (8 )   (471 )   —     (494 )

Net changes in unrealized foreign currency translation

     (173 )   (116 )   —     —     (289 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss) before income taxes and other comprehensive income of subsidiaries

     502     158     (465 )   —     195  

Income tax expense (benefit)

     207     81     (163 )   —     125  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries

     295     77     (302 )   —     70  

Other comprehensive income of subsidiaries

     —     —     372     (372 )   —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Other comprehensive income

     295     77     70     (372 )   70  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Comprehensive income

   $ 3,075   $ 1,201   $ 3,762   $ (4,276 ) $ 3,762  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

CONSOLIDATING BALANCE SHEET (Unaudited)
At December 31, 2016

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Assets

                                

Fixed maturities, available for sale, at fair value (amortized cost $59,650)

   $ 42,014   $ 18,452   $ 49   $ —   $ 60,515  

Equity securities, available for sale, at fair value (cost $504)

     169     408     155     —     732  

Real estate investments

     56     872     —     —     928  

Short-term securities

     2,447     791     1,627     —     4,865  

Other investments

     2,569     878     1     —     3,448  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total investments

     47,255     21,401     1,832     —     70,488  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash

     141     164     2     —     307  

Investment income accrued

     441     183     6     —     630  

Premiums receivable

     4,545     2,177     —     —     6,722  

Reinsurance recoverables

     5,664     2,623     —     —     8,287  

Ceded unearned premiums

     536     53     —     —     589  

Deferred acquisition costs

     1,741     182     —     —     1,923  

Deferred taxes

     216     224     25     —     465  

Contractholder receivables

     3,656     953     —     —     4,609  

Goodwill

     2,578     1,002     —     —     3,580  

Other intangible assets

     202     66     —     —     268  

Investment in subsidiaries

     —     —     27,137     (27,137 )   —  

Other assets

     1,973     370     34     —     2,377  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 68,948   $ 29,398   $ 29,036   $ (27,137 ) $ 100,245  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Liabilities

                                

Claims and claim adjustment expense reserves

   $ 32,168   $ 15,781   $ —   $ —   $ 47,949  

Unearned premium reserves

     8,575     3,754     —     —     12,329  

Contractholder payables

     3,656     953     —     —     4,609  

Payables for reinsurance premiums

     156     117     —     —     273  

Debt

     693     —     5,744     —     6,437  

Other liabilities

     4,106     1,239     82     —     5,427  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities

     49,354     21,844     5,826     —     77,024  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Shareholders' equity

                                

Common stock (1,750.0 shares authorized; 279.6 shares issued and outstanding)

     —     390     22,614     (390 )   22,614  

Additional paid-in capital

     11,634     6,499     —     (18,133 )   —  

Retained earnings

     7,933     797     32,185     (8,719 )   32,196  

Accumulated other comprehensive income (loss)

     27     (132 )   (755 )   105     (755 )

Treasury stock, at cost (489.5 shares)

     —     —     (30,834 )   —     (30,834 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total shareholders' equity

     19,594     7,554     23,210     (27,137 )   23,221  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities and shareholders' equity

   $ 68,948   $ 29,398   $ 29,036   $ (27,137 ) $ 100,245  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

CONSOLIDATING BALANCE SHEET (Unaudited)
At December 31, 2015

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Assets

                                

Fixed maturities, available for sale, at fair value (amortized cost $58,878)

   $ 42,289   $ 18,323   $ 46   $ —   $ 60,658  

Equity securities, available for sale, at fair value (cost $528)

     189     375     141     —     705  

Real estate investments

     56     933     —     —     989  

Short-term securities

     1,947     1,178     1,546     —     4,671  

Other investments

     2,516     930     1     —     3,447  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total investments

     46,997     21,739     1,734     —     70,470  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash

     225     153     2     —     380  

Investment income accrued

     453     185     4     —     642  

Premiums receivable

     4,336     2,101     —     —     6,437  

Reinsurance recoverables

     5,849     3,061     —     —     8,910  

Ceded unearned premiums

     610     46     —     —     656  

Deferred acquisition costs

     1,660     189     —     —     1,849  

Deferred taxes

     178     83     35     —     296  

Contractholder receivables

     3,387     987     —     —     4,374  

Goodwill

     2,573     1,000     —     —     3,573  

Other intangible assets

     203     76     —     —     279  

Investment in subsidiaries

     —     —     27,573     (27,573 )   —  

Other assets

     1,958     344     16     —     2,318  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 68,429   $ 29,964   $ 29,364   $ (27,573 ) $ 100,184  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Liabilities

                                

Claims and claim adjustment expense reserves

   $ 31,965   $ 16,330   $ —   $ —   $ 48,295  

Unearned premium reserves

     8,335     3,636     —     —     11,971  

Contractholder payables

     3,387     987     —     —     4,374  

Payables for reinsurance premiums

     175     121     —     —     296  

Debt

     693     —     5,651     —     6,344  

Other liabilities

     3,958     1,221     127     —     5,306  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities

     48,513     22,295     5,778     —     76,586  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Shareholders' equity

                                

Common stock (1,750.0 shares authorized; 295.9 shares issued and outstanding)

     —     390     22,172     (390 )   22,172  

Additional paid-in capital

     11,634     6,499     —     (18,133 )   —  

Retained earnings

     7,888     688     29,933     (8,564 )   29,945  

Accumulated other comprehensive income (loss)

     394     92     (157 )   (486 )   (157 )

Treasury stock, at cost (467.6 shares)

     —     —     (28,362 )   —     (28,362 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total shareholders' equity

     19,916     7,669     23,586     (27,573 )   23,598  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total liabilities and shareholders' equity

   $ 68,429   $ 29,964   $ 29,364   $ (27,573 ) $ 100,184  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited)
For the year ended December 31, 2016

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Cash flows from operating activities

                                

Net income

   $ 2,184   $ 970   $ 3,014   $ (3,154 ) $ 3,014  

Net adjustments to reconcile net income to net cash provided by operating activities

     1,085     66     (119 )   156     1,188  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by operating activities

     3,269     1,036     2,895     (2,998 )   4,202  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from investing activities

                                

Proceeds from maturities of fixed maturities

     6,589     2,380     6     —     8,975  

Proceeds from sales of investments:

                                

Fixed maturities

     768     647     2     —     1,417  

Equity securities

     47     45     —     —     92  

Real estate investments

     —     69     —     —     69  

Other investments

     586     253     —     —     839  

Purchases of investments:

                                

Fixed maturities

     (7,921 )   (3,676 )   (12 )   —     (11,609 )

Equity securities

     (6 )   (42 )   (3 )   —     (51 )

Real estate investments

     (1 )   (47 )   —     —     (48 )

Other investments

     (453 )   (127 )   —     —     (580 )

Net sales (purchases) of short-term securities

     (501 )   383     (81 )   —     (199 )

Securities transactions in course of settlement

     12     (32 )   (1 )   —     (21 )

Other

     (334 )   (10 )   —     —     (344 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash used in investing activities

     (1,214 )   (157 )   (89 )   —     (1,460 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from financing activities

                                

Treasury stock acquired—share repurchase authorization

     —     —     (2,400 )   —     (2,400 )

Treasury stock acquired—net employee share-based compensation

     —     —     (72 )   —     (72 )

Dividends paid to shareholders

     —     —     (757 )   —     (757 )

Payment of debt

     —     —     (400 )   —     (400 )

Issuance of debt

     —     —     491     —     491  

Issuance of common stock—employee share options

     —     —     332     —     332  

Dividends paid to parent company

     (2,140 )   (858 )   —     2,998     —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash used in financing activities

     (2,140 )   (858 )   (2,806 )   2,998     (2,806 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Effect of exchange rate changes on cash

     1     (10 )   —     —     (9 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net increase (decrease) in cash

     (84 )   11     —     —     (73 )

Cash at beginning of year

     225     153     2     —     380  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash at end of year

   $ 141   $ 164   $ 2   $ —   $ 307  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Supplemental disclosure of cash flow information

                                

Income taxes paid (received)

   $ 737   $ 287   $ (132 ) $ —   $ 892  

Interest paid

   $ 47   $ —   $ 311   $ —   $ 358  

CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited)
For the year ended December 31, 2015

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Cash flows from operating activities

                                

Net income

   $ 2,666   $ 998   $ 3,439   $ (3,664 ) $ 3,439  

Net adjustments to reconcile net income to net cash provided by operating activities

     (577 )   414     330     (172 )   (5 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by operating activities

     2,089     1,412     3,769     (3,836 )   3,434  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from investing activities

                                

Proceeds from maturities of fixed maturities

     7,543     3,563     10     —     11,116  

Proceeds from sales of investments:

                                

Fixed maturities

     1,227     723     —     —     1,950  

Equity securities

     25     34     —     —     59  

Real estate investments

     —     31     —     —     31  

Other investments

     503     210     —     —     713  

Purchases of investments:

                                

Fixed maturities

     (8,276 )   (3,787 )   (27 )   —     (12,090 )

Equity securities

     (3 )   (43 )   (3 )   —     (49 )

Real estate investments

     (1 )   (122 )   —     —     (123 )

Other investments

     (423 )   (111 )   —     —     (534 )

Net sales (purchases) of short-term securities

     179     (489 )   (16 )   —     (326 )

Securities transactions in course of settlement

     (52 )   (61 )   —     —     (113 )

Acquisition, net of cash acquired

     (13 )   —     —     —     (13 )

Other

     (343 )   39     —     —     (304 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used in) investing activities

     366     (13 )   (36 )   —     317  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from financing activities

                                

Treasury stock acquired—share repurchase authorization

     —     —     (3,150 )   —     (3,150 )

Treasury stock acquired—net employee share-based compensation

     —     —     (74 )   —     (74 )

Dividends paid to shareholders

     —     —     (739 )   —     (739 )

Payment of debt

     —     —     (400 )   —     (400 )

Issuance of debt

     —     —     392     —     392  

Issuance of common stock—employee share options

     —     —     183     —     183  

Excess tax benefits from share-based payment arrangements

     —     —     55     —     55  

Dividends paid to parent company

     (2,450 )   (1,383 )   —     3,833     —  

Capital contributions, loans and other transactions between subsidiaries

     —     (3 )   —     3     —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash used in financing activities

     (2,450 )   (1,386 )   (3,733 )   3,836     (3,733 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Effect of exchange rate changes on cash

     (1 )   (11 )   —     —     (12 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net increase in cash

     4     2     —     —     6  

Cash at beginning of year

     221     151     2     —     374  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash at end of year

   $ 225   $ 153   $ 2   $ —   $ 380  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Supplemental disclosure of cash flow information

                                

Income taxes paid (received)

   $ 1,032   $ 384   $ (209 ) $ —   $ 1,207  

Interest paid

   $ 47   $ —   $ 318   $ —   $ 365  

CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited)
For the year ended December 31, 2014

(in millions)
  TPC   Other
Subsidiaries		   TRV   Eliminations   Consolidated  

Cash flows from operating activities

                                

Net income

   $ 2,780   $ 1,124   $ 3,692   $ (3,904 ) $ 3,692  

Net adjustments to reconcile net income to net cash provided by operating activities

     343     (293 )   118     (167 )   1  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by operating activities

     3,123     831     3,810     (4,071 )   3,693  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from investing activities

                                

Proceeds from maturities of fixed maturities

     6,625     4,258     11     —     10,894  

Proceeds from sales of investments:

                                

Fixed maturities

     595     453     1     —     1,049  

Equity securities

     111     43     4     —     158  

Real estate investments

     1     14     —     —     15  

Other investments

     477     378     —     —     855  

Purchases of investments:

                                

Fixed maturities

     (6,856 )   (4,465 )   (4 )   —     (11,325 )

Equity securities

     (3 )   (42 )   (7 )   —     (52 )

Real estate investments

     (22 )   (26 )   —     —     (48 )

Other investments

     (405 )   (149 )   —     —     (554 )

Net purchases of short-term securities

     (268 )   (223 )   (7 )   —     (498 )

Securities transactions in course of settlement

     44     38     —     —     82  

Acquisition, net of cash acquired

     (9 )   (3 )   —           (12 )

Other

     (350 )   (8 )   —     —     (358 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash provided by (used in) investing activities

     (60 )   268     (2 )   —     206  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash flows from financing activities

                                

Treasury stock acquired—share repurchase authorization

     —     —     (3,275 )   —     (3,275 )

Treasury stock acquired—net employee share-based compensation

     —     —     (57 )   —     (57 )

Dividends paid to shareholders

     —     —     (729 )   —     (729 )

Issuance of common stock—employee share options

     —     —     195     —     195  

Excess tax benefits from share-based payment arrangements

     —     —     57     —     57  

Dividends paid to parent company

     (2,978 )   (1,093 )   —     4,071     —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net cash used in financing activities

     (2,978 )   (1,093 )   (3,809 )   4,071     (3,809 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Effect of exchange rate changes on cash

     (1 )   (9 )   —     —     (10 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net increase (decrease) in cash

     84     (3 )   (1 )   —     80  

Cash at beginning of year

     137     154     3     —     294  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Cash at end of year

   $ 221   $ 151   $ 2   $ —   $ 374  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Supplemental disclosure of cash flow information

                                

Income taxes paid (received)

   $ 947   $ 336   $ (136 ) $ —   $ 1,147  

Interest paid

   $ 47   $ —   $ 318   $ —   $ 365