Investments (tables)

9 Months Ended

Sep. 30, 2014

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

Amortized

Gross Unrealized

Fair

(at September 30, 2014, in millions)

Cost

Gains

Losses

Value

U.S. Treasury securities and obligations of U.S. government and government agencies and authorities

2,050

2,074

Obligations of states, municipalities and political subdivisions:

Pre-refunded

7,459

348

—

7,807

All other

24,787

1,336

26,090

Total obligations of states, municipalities and political subdivisions

32,246

1,684

33,897

Debt securities issued by foreign governments

2,435

2,468

Mortgage-backed securities, collateralized mortgage obligations and pass-through securities

2,114

167

2,274

All other corporate bonds

22,072

828

126

22,774

Redeemable preferred stock

126

—

135

Total

61,043

2,753

174

63,622

	Amortized		Gross Unrealized				Fair
(at December 31, 2013, in millions)	Cost		Gains		Losses		Value
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities	$	2,288	$	39	$	12	$	2,315
Obligations of states, municipalities and political subdivisions:
Pre-refunded	9,074		445		1		9,518
All other	25,414		991		361		26,044
Total obligations of states, municipalities and political subdivisions	34,488		1,436		362		35,562
Debt securities issued by foreign governments	2,552		33		8		2,577
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	2,263		179		18		2,424
All other corporate bonds	20,472		767		299		20,940
Redeemable preferred stock	133		6		1		138
Total	$	62,196	$	2,460	$	700	$	63,956

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

			Gross Unrealized				Fair
(at September 30, 2014, in millions)	Cost		Gains		Losses		Value
Public common stock	$	396	$	312	$	—	$	708
Non-redeemable preferred stock	213		30		2		241
Total	$	609	$	342	$	2	$	949

			Gross Unrealized				Fair
(at December 31, 2013, in millions)	Cost		Gains		Losses		Value
Public common stock	$	385	$	226	$	1	$	610
Non-redeemable preferred stock	301		34		2		333
Total	$	686	$	260	$	3	$	943

Unrealized investment losses [Table Text Block]

	Less than 12 months				12 months or longer				Total
(at September 30, 2014, 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	$	172	$	2	$	105	$	5	$	277	$	7
Obligations of states, municipalities and political subdivisions	1,033		1		1,736		32		2,769		33
Debt securities issued by foreign governments	226		—		143		1		369		1
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	157		1		257		6		414		7
All other corporate bonds	3,161		34		2,658		92		5,819		126
Total fixed maturities	4,749		38		4,899		136		9,648		174
Equity securities
Public common stock	36		—		1		—		37		—
Non-redeemable preferred stock	108		2		—		—		108		2
Total equity securities	144		2		1		—		145		2
Total	$	4,893	$	40	$	4,900	$	136	$	9,793	$	176

	Less than 12 months				12 months or longer				Total
(at December 31, 2013, 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	$	433	$	12	$	—	$	—	$	433	$	12
Obligations of states, municipalities and political subdivisions	4,785		298		432		64		5,217		362
Debt securities issued by foreign governments	907		8		1		—		908		8
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	542		17		21		1		563		18
All other corporate bonds	6,887		253		421		46		7,308		299
Redeemable preferred stock	82		1		—		—		82		1
Total fixed maturities	13,636		589		875		111		14,511		700
Equity securities
Public common stock	53		1		—		—		53		1
Non-redeemable preferred stock	147		2		—		—		147		2
Total equity securities	200		3		—		—		200		3
Total	$	13,836	$	592	$	875	$	111	$	14,711	$	703

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
(at September 30, 2014, 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	—		—		2		2		4
Total fixed maturities	—		—		2		2		4
Equity securities	—		—		—		—		—
Total	$	—	$	—	$	2	$	2	$	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)	2014		2013		2014		2013

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	—		—		1		2
All other corporate bonds	9		—		12		—
Redeemable preferred stock	—		—		—		—
Total fixed maturities	9		—		13		2
Equity securities
Public common stock	1		2		6		3
Non-redeemable preferred stock	—		—		—		—
Total equity securities	1		2		6		3
Other investments	—		1		1		5
Total	$	10	$	3	$	20	$	10

Cumulative amount of and the changes during the reporting period in the credit losses of other-than-temporary impairments (OTTI) on fixed maturities recognized in the consolidated statement of income for which a portion of the OTTI was recognized in other comprehensive income [Table Text Block]

	2014
(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	$	43	$	—	$	—	$	—		$	1	$	44
All other corporate bonds	66		—		—		(5		)	—		61
Total fixed maturities	$	109	$	—	$	—	$	(5	)	$	1	$	105

(for the nine months ended September 30, in millions)
Fixed maturities
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	$	53	$	—	$	1	$	(3	)	$	(7	)	$	44
All other corporate bonds	65		—		3		(5		)	(2		)	61
Total fixed maturities	$	118	$	—	$	4	$	(8	)	$	(9	)	$	105

	2013
(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	$	55	$	—	$	—	$	—	$	(2	)	$	53
All other corporate bonds	70		—		—		—		(1		)	69
Total fixed maturities	$	125	$	—	$	—	$	—	$	(3	)	$	122

(for the nine months ended September 30, in millions)
Fixed maturities
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	$	55	$	—	$	2	$	—	$	(4	)	$	53
All other corporate bonds	72		—		—		—		(3		)	69
Total fixed maturities	$	127	$	—	$	2	$	—	$	(7	)	$	122

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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