Fair Value Measurements (tables)

9 Months Ended

Sep. 30, 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 September 30, 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	$	2,074	$	2,062	$	12	$	—
Obligations of states, municipalities and political subdivisions	33,897		24		33,860		13
Debt securities issued by foreign governments	2,468		9		2,459		—
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities	2,274		—		2,274		—
All other corporate bonds	22,774		17		22,511		246
Redeemable preferred stock	135		5		122		8
Total fixed maturities	63,622		2,117		61,238		267
Equity securities
Public common stock	708		708		—		—
Non-redeemable preferred stock	241		93		148		—
Total equity securities	949		801		148		—
Other investments	56		19		—		37
Total	$	64,627	$	2,937	$	61,386	$	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
Public 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]

Three Months Ended September 30, 2014 (in millions)	FixedMaturities			OtherInvestments		Total
Balance at June 30, 2014	$	264		$	36	$	300
Total realized and unrealized investment gains (losses):
Reported in net realized investment gains (losses) (1)	1			—		1
Reported in increases (decreases) in other comprehensive income	(2		)	1		(1		)
Purchases, sales and settlements/maturities:
Purchases	74			—		74
Sales	—			—		—
Settlements/maturities	(13		)	—		(13		)
Gross transfers into Level 3	8			—		8
Gross transfers out of Level 3	(65		)	—		(65		)
Balance at September 30, 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.

Nine Months Ended September 30, 2014 (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 (losses) (1)	3			1		4
Reported in increases (decreases) in other comprehensive income	(2		)	1		(1		)
Purchases, sales and settlements/maturities:
Purchases	216			1		217
Sales	(1		)	—		(1		)
Settlements/maturities	(73		)	—		(73		)
Gross transfers into Level 3	8			—		8
Gross transfers out of Level 3	(139		)	—		(139		)
Balance at September 30, 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.

Twelve Months Ended December 31, 2013 (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 September 30, 2014, in millions)	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Short-term securities	$	5,033	$	5,033	$	1,265	$	3,719	$	49
Financial liabilities:
Debt	$	6,248	$	7,390	$	—	$	7,390	$	—
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	$	—