Segment Information

6 Months Ended

Jun. 30, 2011

Segment Information disclosure

Segment Information disclosure [Text Block]

2. SEGMENT INFORMATION

The following tables summarize the components of the Company’s revenues, operating income (loss) and total assets by reportable business segments:

(for the three months ended June 30, in millions)	BusinessInsurance		Financial, Professional & International Insurance		PersonalInsurance			TotalReportableSegments
2011
Premiums	$	2,802	$	810	$	1,891		$	5,503
Net investment income	541		105		112			758
Fee income	74		—		—			74
Other revenues	10		6		18			34
Total operating revenues (1)	$	3,427	$	921	$	2,021		$	6,369
Operating income (loss) (1)	$	11	$	164	$	(471	)	$	(296	)
2010
Premiums	$	2,663	$	855	$	1,822		$	5,340
Net investment income	537		110		115			762
Fee income	76		—		—			76
Other revenues	7		7		18			32
Total operating revenues (1)	$	3,283	$	972	$	1,955		$	6,210
Operating income (1)	$	567	$	172	$	19		$	758

(1) Operating revenues for reportable business segments exclude net realized investment gains (losses). Operating income (loss) for reportable business segments equals net income (loss) excluding the after-tax impact of net realized investment gains (losses).

(for the six months ended June 30, in millions)	BusinessInsurance		Financial, Professional & International Insurance		PersonalInsurance			TotalReportableSegments
2011
Premiums	$	5,547	$	1,583	$	3,744		$	10,874
Net investment income	1,097		211		229			1,537
Fee income	148		—		—			148
Other revenues	19		13		36			68
Total operating revenues (1)	$	6,811	$	1,807	$	4,009		$	12,627
Operating income (loss) (1)	$	615	$	284	$	(301	)	$	598
2010
Premiums	$	5,291	$	1,679	$	3,600		$	10,570
Net investment income	1,065		221		229			1,515
Fee income	155		—		—			155
Other revenues	13		13		38			64
Total operating revenues (1)	$	6,524	$	1,913	$	3,867		$	12,304
Operating income (1)	$	1,134	$	258	$	78		$	1,470

(1) Operating revenues for reportable business segments exclude net realized investment gains (losses). Operating income (loss) for reportable business segments equals net income (loss) excluding the after-tax impact of net realized investment gains (losses).

Business Segment Reconciliations

	Three Months Ended June  30,						Six Months Ended June 30,
(in millions)	2011			2010			2011			2010
Revenue reconciliation
Earned premiums
Business Insurance:
Workers’ compensation	$	712		$	605		$	1,392		$	1,205
Commercial automobile	480			471			953			942
Property	401			423			802			846
General liability	429			433			857			858
Commercial multi-peril	778			730			1,540			1,440
Other	2			1			3			—
Total Business Insurance	2,802			2,663			5,547			5,291
Financial, Professional & International Insurance:
Fidelity and surety	250			286			484			533
General liability	216			222			424			448
International	311			313			609			631
Other	33			34			66			67
Total Financial, Professional & International Insurance	810			855			1,583			1,679
Personal Insurance:
Automobile	931			921			1,846			1,825
Homeowners and other	960			901			1,898			1,775
Total Personal Insurance	1,891			1,822			3,744			3,600
Total earned premiums	5,503			5,340			10,874			10,570
Net investment income	758			762			1,537			1,515
Fee income	74			76			148			155
Other revenues	34			32			68			64
Total operating revenues for reportable segments	6,369			6,210			12,627			12,304
Net realized investment gains (losses)	19			(31		)	39			(6		)
Total consolidated revenues	$	6,388		$	6,179		$	12,666		$	12,298
Income reconciliation, net of tax
Total operating income (loss) for reportable segments	$	(296	)	$	758		$	598		$	1,470
Interest Expense and Other (1)	(81		)	(68		)	(149		)	(149		)
Total operating income (loss)	(377		)	690			449			1,321
Net realized investment gains (losses)	13			(20		)	26			(4		)
Total consolidated net income (loss)	$	(364	)	$	670		$	475		$	1,317

(1)   The primary component of Interest Expense and Other is after-tax interest expense of $63 million in each of the three months ended June 30, 2011 and 2010, and $125 million and $127 million for the six months ended June 30, 2011 and 2010, respectively.

(in millions)	June 30,2011		December 31,2010
Asset reconciliation:
Business Insurance	$	78,330	$	78,165
Financial, Professional & International Insurance	13,840		13,461
Personal Insurance	13,511		13,423
Total assets for reportable segments	105,681		105,049
Other assets (1)	787		607
Total consolidated assets	$	106,468	$	105,656

(1) The primary components of other assets at both dates were other intangible assets and deferred tax assets.