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Segment Information (tables)
3 Months Ended
Mar. 31, 2014
Segment Information disclosure  
Company's revenues and operating income by segment [Table Text Block]

 

(for the three months
ended March 31,
in millions)

 

Business
Insurance

 

Financial,
Professional &
International
Insurance

 

Personal
Insurance

 

Total
Reportable
Segments

 

2014

 

 

 

 

 

 

 

 

 

Premiums

 

$

3,016

 

$

1,045

 

$

1,762

 

$

5,823

 

Net investment income

 

530

 

106

 

100

 

736

 

Fee income

 

107

 

 

 

107

 

Other revenues

 

8

 

8

 

26

 

42

 

Total operating revenues (1)

 

$

3,661

 

$

1,159

 

$

1,888

 

$

6,708

 

Operating income (1)

 

$

653

 

$

195

 

$

268

 

$

1,116

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

 

 

 

 

 

 

 

Premiums

 

$

2,942

 

$

735

 

$

1,840

 

$

5,517

 

Net investment income

 

487

 

92

 

91

 

670

 

Fee income

 

97

 

 

 

97

 

Other revenues

 

13

 

5

 

18

 

36

 

Total operating revenues (1)

 

$

3,539

 

$

832

 

$

1,949

 

$

6,320

 

Operating income (1)

 

$

590

 

$

163

 

$

197

 

$

950

 

 

(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 of revenue and income, net of tax [Table Text Block]

 

 

 

 

Three Months Ended
March 31,

 

(in millions)

 

2014

 

2013

 

Revenue reconciliation

 

 

 

 

 

Earned premiums

 

 

 

 

 

Business Insurance:

 

 

 

 

 

Workers’ compensation

 

$

908

 

$

847

 

Commercial automobile

 

468

 

475

 

Commercial property

 

428

 

409

 

General liability

 

447

 

437

 

Commercial multi-peril

 

755

 

765

 

Other

 

10

 

9

 

Total Business Insurance

 

3,016

 

2,942

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial, Professional & International Insurance:

 

 

 

 

 

Fidelity and surety

 

222

 

220

 

General liability

 

237

 

213

 

International

 

542

 

258

 

Other

 

44

 

44

 

Total Financial, Professional & International Insurance

 

1,045

 

735

 

 

 

 

 

 

 

Personal Insurance:

 

 

 

 

 

Automobile

 

815

 

872

 

Homeowners and other

 

947

 

968

 

Total Personal Insurance

 

1,762

 

1,840

 

Total earned premiums

 

5,823

 

5,517

 

Net investment income

 

736

 

670

 

Fee income

 

107

 

97

 

Other revenues

 

42

 

36

 

Total operating revenues for reportable segments

 

6,708

 

6,320

 

Other revenues

 

(1

)

(2

)

Net realized investment gains

 

1

 

10

 

Total consolidated revenues

 

$

6,708

 

$

6,328

 

 

 

 

 

 

 

Income reconciliation, net of tax

 

 

 

 

 

Total operating income for reportable segments

 

$

1,116

 

$

950

 

Interest Expense and Other (1)

 

(64

)

(63

)

Total operating income

 

1,052

 

887

 

Net realized investment gains

 

 

9

 

Total consolidated net income

 

$

1,052

 

$

896

 

 

(1)  The primary component of Interest Expense and Other was after-tax interest expense of $60 million in each of the three months ended March 31, 2014 and 2013.

Asset reconciliation [Table Text Block]

 

(in millions)

 

March 31,
2014

 

December 31,
2013

 

Asset reconciliation:

 

 

 

 

 

Business Insurance

 

$

74,225

 

$

73,746

 

Financial, Professional & International Insurance

 

16,585

 

16,691

 

Personal Insurance

 

12,841

 

12,870

 

Total assets for reportable segments

 

103,651

 

103,307

 

Other assets (1)

 

483

 

505

 

Total consolidated assets

 

$

104,134

 

$

103,812

 

 

(1)                  The primary components of other assets at both dates were other intangible assets and accrued over-funded benefit plan assets related to the Company’s qualified domestic pension plan.