Segment Information

3 Months Ended

Mar. 31, 2012

Segment Information disclosure

Segment Information disclosure [Text Block]

2.SEGMENT INFORMATION

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

(for the three months ended March 31, in millions)	BusinessInsurance		Financial, Professional & International Insurance		PersonalInsurance		TotalReportableSegments
2012
Premiums	$	2,876	$	737	$	1,910	$	5,523
Net investment income	532		104		104		740
Fee income	82		—		—		82
Other revenues	14		8		19		41
Total operating revenues (1)	$	3,504	$	849	$	2,033	$	6,386
Operating income (1)	$	612	$	149	$	108	$	869
2011
Premiums	$	2,745	$	773	$	1,853	$	5,371
Net investment income	556		106		117		779
Fee income	74		—		—		74
Other revenues	9		7		18		34
Total operating revenues (1)	$	3,384	$	886	$	1,988	$	6,258
Operating income (1)	$	604	$	120	$	170	$	894

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

Business Segment Reconciliations

	Three Months Ended March 31,
(in millions)	2012			2011
Revenue reconciliation
Earned premiums
Business Insurance:
Workers’ compensation	$	783		$	680
Commercial automobile	486			473
Property	392			401
General liability	432			428
Commercial multi-peril	775			762
Other	8			1
Total Business Insurance	2,876			2,745
Financial, Professional & International Insurance:
Fidelity and surety	223			234
General liability	207			204
International	266			298
Other	41			37
Total Financial, Professional & International Insurance	737			773
Personal Insurance:
Automobile	928			915
Homeowners and other	982			938
Total Personal Insurance	1,910			1,853
Total earned premiums	5,523			5,371
Net investment income	740			779
Fee income	82			74
Other revenues	41			34
Total operating revenues for reportable segments	6,386			6,258
Other revenues	(4		)	—
Net realized investment gains	10			20
Total consolidated revenues	$	6,392		$	6,278
Income reconciliation, net of tax
Total operating income for reportable segments	$	869		$	894
Interest Expense and Other (1)	(68		)	(68		)
Total operating income	801			826
Net realized investment gains	5			13
Total consolidated net income	$	806		$	839

(1)The primary component of Interest Expense and Other is after-tax interest expense of $62 million in each of the three months ended March 31, 2012 and 2011.

(in millions)	March 31,2012		December 31,2011
Asset reconciliation:
Business Insurance	$	77,299	$	76,870
Financial, Professional & International Insurance	13,547		13,355
Personal Insurance	13,495		13,614
Total assets for reportable segments	104,341		103,839
Other assets (1)	525		763
Total consolidated assets	$	104,866	$	104,602

(1)The primary components of other assets at both dates were other intangible assets and, at December 31, 2011, deferred taxes.