Fair Value Measurements (tables)

3 Months Ended

Mar. 31, 2014

Fair Value Measurements disclosure

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

(at March 31, 2014, 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	$	2,223	$	2,207	$	16	$	—
Obligations of states, municipalities and political subdivisions	35,392		—		35,379		13
Debt securities issued by foreign governments	2,571		—		2,571		—
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	2,361		—		2,329		32
All other corporate bonds	21,587		8		21,366		213
Redeemable preferred stock	137		4		124		9
Total fixed maturities	64,271		2,219		61,785		267
Equity securities
Common stock	631		631		—		—
Non-redeemable preferred stock	307		147		160		—
Total equity securities	938		778		160		—
Other investments	54		17		—		37
Total	$	65,263	$	3,014	$	61,945	$	304

(at December 31, 2013, 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	$	2,315	$	2,298	$	17	$	—
Obligations of states, municipalities and political subdivisions	35,562		1		35,538		23
Debt securities issued by foreign governments	2,577		—		2,577		—
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	2,424		—		2,415		9
All other corporate bonds	20,940		—		20,726		214
Redeemable preferred stock	138		—		129		9
Total fixed maturities	63,956		2,299		61,402		255
Equity securities
Common stock	610		610		—		—
Non-redeemable preferred stock	333		138		195		—
Total equity securities	943		748		195		—
Other investments	53		19		—		34
Total	$	64,952	$	3,066	$	61,597	$	289

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

in millions)	FixedMaturities			OtherInvestments		Total
Balance at December 31, 2013	$	255		$	34	$	289
Total realized and unrealized investment gains (losses):
Reported in net realized investment gains (1)	1			1		2
Reported in increases (decreases) in other comprehensive income	(2		)	1		(1		)
Purchases, sales and settlements/maturities:
Purchases	84			1		85
Sales	—			—		—
Settlements/maturities	(29		)	—		(29		)
Gross transfers into Level 3	—			—		—
Gross transfers out of Level 3	(42		)	—		(42		)
Balance at March 31, 2014	$	267		$	37	$	304
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.

(in millions)	FixedMaturities			OtherInvestments			Total
Balance at December 31, 2012	$	230		$	54		$	284
Total realized and unrealized investment gains (losses):
Reported in net realized investment gains (1)	4			12			16
Reported in increases (decreases) in other comprehensive income	(2		)	1			(1		)
Purchases, sales and settlements/maturities:
Purchases	180			—			180
Sales	(25		)	(33		)	(58		)
Settlements/maturities	(83		)	—			(83		)
Gross transfers into Level 3	15			—			15
Gross transfers out of Level 3	(64		)	—			(64		)
Balance at December 31, 2013	$	255		$	34		$	289
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.

Carrying value and fair value of financial instruments disclosed, but not carried, at fair value and the level within the fair value hierarchy at which such financial instruments are measured on a recurring basis [Table Text Block]

at March 31, 2014, in millions)	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Short-term securities	$	4,034	$	4,034	$	1,507	$	2,470	$	57
Financial liabilities:
Debt	$	6,247	$	7,298	$	—	$	7,298	$	—
Commercial paper	$	100	$	100	$	—	$	100	$	—

(at December 31, 2013, in millions)	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Short-term securities	$	3,882	$	3,882	$	1,608	$	2,215	$	59
Financial liabilities:
Debt	$	6,246	$	7,123	$	—	$	7,123	$	—
Commercial paper	$	100	$	100	$	—	$	100	$	—