Fair Value Measurements (tables)

9 Months Ended

Sep. 30, 2011

Fair Value Measurements disclosure

Level within the fair value hierarchy at which the Company's financial assets are measured [Text Block]

.

(at September 30, 2011, in millions)	Total		Level 1		Level 2		Level 3
Invested assets:
Fixed maturities
U.S. Treasury securities and obligations of U.S. Government and government agencies and authorities	$	2,231	$	2,198	$	33	$	—
Obligations of states, municipalities and political subdivisions	39,275		—		39,254		21
Debt securities issued by foreign governments	2,002		—		2,002		—
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	3,618		—		3,617		1
All other corporate bonds	16,837		—		16,627		210
Redeemable preferred stock	37		36		1		—
Total fixed maturities	64,000		2,234		61,534		232
Equity securities
Common stock	376		364		12		—
Non-redeemable preferred stock	194		134		60		—
Total equity securities	570		498		72		—
Other investments	84		39		—		45
Total	$	64,654	$	2,771	$	61,606	$	277

The Company did not have significant transfers between Levels 1 and 2 during the nine months ended September 30, 2011.

(at December 31, 2010, in millions)	Total		Level 1		Level 2		Level 3
Invested assets:
Fixed maturities
U.S. Treasury securities and obligations of U.S. Government and government agencies and authorities	$	2,008	$	1,991	$	17	$	—
Obligations of states, municipalities and political subdivisions	39,535		—		39,433		102
Debt securities issued by foreign governments	2,202		—		2,202		—
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	4,164		—		4,163		1
All other corporate bonds	14,876		—		14,749		127
Redeemable preferred stock	35		34		1		—
Total fixed maturities	62,820		2,025		60,565		230
Equity securities
Common stock	304		281		23		—
Non-redeemable preferred stock	215		131		84		—
Total equity securities	519		412		107		—
Other investments	99		42		—		57
Total	$	63,438	$	2,479	$	60,672	$	287

The Company did not have significant transfers between Levels 1 and 2 during the year ended December 31, 2010.

Changes in the Level 3 fair value category [Text Block]

Three Months Ended September 30, 2011 (in millions)	FixedMaturities			OtherInvestments			Total
Balance at June 30, 2011	$	197		$	71		$	268
Total realized and unrealized investment gains (losses):
Included in realized investment gains (losses) (1)	1			33			34
Included in increases (decreases) in accumulated other changes in equity from nonowner sources	(3		)	(22		)	(25		)
Purchases, sales and settlements/maturities:
Purchases	37			3			40
Sales	(3		)	(40		)	(43		)
Settlements/maturities	(5		)	—			(5		)
Gross transfers into Level 3	8			—			8
Gross transfers out of Level 3	—			—			—
Balance at September 30, 2011	$	232		$	45		$	277
Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date	$	—		$	—		$	—

(1) Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.

Nine Months Ended September 30, 2011 (in millions)	FixedMaturities			OtherInvestments			Total
Balance at December 31, 2010	$	230		$	57		$	287
Total realized and unrealized investment gains (losses):
Included in realized investment gains (losses) (1)	1			39			40
Included in increases (decreases) in accumulated other changes in equity from nonowner sources	(3		)	(9		)	(12		)
Purchases, sales and settlements/maturities:
Purchases	119			5			124
Sales	(15		)	(47		)	(62		)
Settlements/maturities	(26		)	—			(26		)
Gross transfers into Level 3	16			—			16
Gross transfers out of Level 3 (2)	(90		)	—			(90		)
Balance at September 30, 2011	$	232		$	45		$	277
Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date	$	—		$	—		$	—

(1)	Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.
(2)	During the nine months ended September 30, 2011, approximately $81 million of municipal fixed maturity securities were valued using observable market data which resulted in a transfer out of Level 3 into Level 2. In prior periods, these securities were valued internally using unobservable inputs.

Twelve Months Ended December 31, 2010 (in millions)	FixedMaturities			OtherInvestments			Total
Balance at December 31, 2009	$	240		$	154		$	394
Total realized and unrealized investment gains (losses):
Included in realized investment gains (losses) (1)	5			2			7
Included in increases (decreases) in accumulated other changes in equity from nonowner sources	10			11			21
Purchases, sales and settlements/maturities:
Purchases	44			3			47
Sales	(9		)	(113		)	(122		)
Settlements/maturities	(41		)	—			(41		)
Gross transfers into Level 3	13			—			13
Gross transfers out of Level 3	(32		)	—			(32		)
Balance at December 31, 2010	$	230		$	57		$	287
Amount of total realized investment gains (losses) for the period included in the consolidated statement of income attributable to changes in the fair value of assets still held at the reporting date	$	—		$	—		$	—

(1)     Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.