Investments (tables)

9 Months Ended

Sep. 30, 2012

Investments disclosure

Amortized cost and fair value of investments in fixed maturities [Table Text Block]

	Amortized		Gross Unrealized				Fair
(at September 30, 2012, in millions)	Cost		Gains		Losses		Value
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities	$	2,088	$	83	$	—	$	2,171
Obligations of states, municipalities and political subdivisions:
Pre-refunded	8,199		599		—		8,798
All other	28,042		2,415		3		30,454
Total obligations of states, municipalities and political subdivisions	36,241		3,014		3		39,252
Debt securities issued by foreign governments	2,281		85		—		2,366
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	2,872		284		2		3,154
All other corporate bonds	17,495		1,419		17		18,897
Redeemable preferred stock	26		7		—		33
Total	$	61,003	$	4,892	$	22	$	65,873

	Amortized		Gross Unrealized				Fair
(at December 31, 2011, in millions)	Cost		Gains		Losses		Value
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities	$	2,396	$	101	$	—	$	2,497
Obligations of states, municipalities and political subdivisions:
Pre-refunded	6,820		513		1		7,332
All other	29,391		2,303		4		31,690
Total obligations of states, municipalities and political subdivisions	36,211		2,816		5		39,022
Debt securities issued by foreign governments	2,228		91		1		2,318
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	3,288		249		22		3,515
All other corporate bonds	15,845		1,066		61		16,850
Redeemable preferred stock	26		4		—		30
Total	$	59,994	$	4,327	$	89	$	64,232

Cost and fair value of investments in equity securities [Table Text Block]

			Gross Unrealized				Fair
(at September 30, 2012, in millions)	Cost		Gains		Losses		Value
Common stock	$	343	$	155	$	2	$	496
Non-redeemable preferred stock	96		37		—		133
Total	$	439	$	192	$	2	$	629

			Gross Unrealized				Fair
(at December 31, 2011, in millions)	Cost		Gains		Losses		Value
Common stock	$	311	$	120	$	3	$	428
Non-redeemable preferred stock	103		29		1		131
Total	$	414	$	149	$	4	$	559

Unrealized investment losses [Table Text Block]

	Less than 12 months				12 months or longer				Total
(at September 30, 2012, in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities	$	51	$	—	$	—	$	—	$	51	$	—
Obligations of states, municipalities and political subdivisions	228		—		45		3		273		3
Debt securities issued by foreign governments	37		—		—		—		37		—
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	8		—		37		2		45		2
All other corporate bonds	468		8		113		9		581		17
Total fixed maturities	792		8		195		14		987		22
Equity securities
Common stock	26		2		—		—		26		2
Non-redeemable preferred stock	17		—		—		—		17		—
Total equity securities	43		2		—		—		43		2
Total	$	835	$	10	$	195	$	14	$	1,030	$	24

	Less than 12 months				12 months or longer				Total
(at December 31, 2011, in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities	$	356	$	—	$	—	$	—	$	356	$	—
Obligations of states, municipalities and political subdivisions	27		—		191		5		218		5
Debt securities issued by foreign governments	96		1		2		—		98		1
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	362		12		155		10		517		22
All other corporate bonds	1,295		42		105		19		1,400		61
Total fixed maturities	2,136		55		453		34		2,589		89
Equity securities
Common stock	64		3		—		—		64		3
Non-redeemable preferred stock	37		1		7		—		44		1
Total equity securities	101		4		7		—		108		4
Total	$	2,237	$	59	$	460	$	34	$	2,697	$	93

Securities continuously in an unrealized loss position of greater than 20% of amortized cost by length of time [Table Text Block]

	Period For Which Fair Value Is Less Than 80% of Amortized Cost
(in millions)	3 Months or Less		Greater Than 3 Months, 6 Months or Less		Greater Than 6 Months, 12 Months or Less		Greater Than 12 Months		Total
Fixed maturities
Mortgage-backed securities	$	—	$	—	$	—	$	—	$	—
Other	1		—		—		3		4
Total fixed maturities	1		—		—		3		4
Equity securities	—		—		—		—		—
Total	$	1	$	—	$	—	$	3	$	4

Impairment charges included in net realized investment gains (losses) [Table Text Block]

	Three Months Ended  September 30,				Nine Months Ended September 30,
(in millions)	2012		2011		2012		2011
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities	$	—	$	—	$	—	$	—
Obligations of states, municipalities and political subdivisions	—		—		—		—
Debt securities issued by foreign governments	—		—		—		—
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	—		5		3		9
All other corporate bonds	1		2		4		5
Redeemable preferred stock	—		—		—		—
Total fixed maturities	1		7		7		14
Equity securities
Common stock	1		5		1		6
Non-redeemable preferred stock	1		—		1		—
Total equity securities	2		5		2		6
Other investments	—		—		2		—
Total	$	3	$	12	$	11	$	20

Roll-forward of the credit component of other-than-temporary impairments on fixed maturities recognized in the consolidated statement of income for which a portion of the other-than-temporary impairment was recognized in other comprehensive income [Table Text Block]

	2012
(for the three months ended September 30, in millions)	Cumulative OTTI Credit Losses Recognized for Securities Held, Beginning of Period		Additions for OTTI Securities Where No Credit Losses Were Previously Recognized		Additions for OTTI Securities Where Credit Losses Have Been Previously Recognized		Reductions Due to Sales/Defaults of Credit- Impaired Securities			Adjustments to Book Value of Credit- Impaired Securities due to Changes in Cash Flows		Cumulative OTTI Credit Losses Recognized for Securities Still Held, End of Period
Fixed maturities
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	$	61	$	—	$	—	$	(1	)	$	1	$	61
All other corporate bonds	99		—		1		—			1		101
Total fixed maturities	$	160	$	—	$	1	$	(1	)	$	2	$	162

(for the nine months ended September 30, in millions)
Fixed maturities
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	$	58	$	—	$	3	$	(1	)	$	1	$	61
All other corporate bonds	94		—		4		—			3		101
Total fixed maturities	$	152	$	—	$	7	$	(1	)	$	4	$	162

	2011
(for the three months ended September 30, in millions)	Cumulative OTTI Credit Losses Recognized for Securities Held, Beginning of Period		Additions for OTTI Securities Where No Credit Losses Were Previously Recognized		Additions for OTTI Securities Where Credit Losses Have Been Previously Recognized		Reductions Due to Sales/Defaults of Credit- Impaired Securities		Adjustments to Book Value of Credit- Impaired Securities due to Changes in Cash Flows		Cumulative OTTI Credit Losses Recognized for Securities Still Held, End of Period
Fixed maturities
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	$	51	$	—	$	4	$	—	$	—	$	55
All other corporate bonds	92		—		1		—		2		95
Total fixed maturities	$	143	$	—	$	5	$	—	$	2	$	150

(for the nine months ended September 30, in millions)
Fixed maturities
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	$	47	$	—	$	8	$	—		$	—	$	55
All other corporate bonds	88		2		2		(1		)	4		95
Total fixed maturities	$	135	$	2	$	10	$	(1	)	$	4	$	150