Goodwill and Other Intangible Assets (tables)

9 Months Ended

Sep. 30, 2014

Goodwill and Other Intangible Assets disclosure

Goodwill by segment [Table Text Block]

(in millions)	September 30,2014		December 31, 2013
Business and International Insurance (1)	$	2,486	$	2,499
Bond & Specialty Insurance	495		495
Personal Insurance	613		613
Other	27		27
Total	$	3,621	$	3,634

(1) Includes goodwill associated with the Company’s acquisition of Dominion in 2013, which is subject to the impact of changes in foreign currency exchange rates.

Other intangible assets by major asset class [Table Text Block]

(at September 30, 2014, in millions)	Gross Carrying Amount		Accumulated Amortization		Net
Intangibles subject to amortization
Customer-related	$	460	$	438	$	22
Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles (1)	209		132		77
Total intangible assets subject to amortization	669		570		99
Intangible assets not subject to amortization	217		—		217
Total other intangible assets	$	886	$	570	$	316

(at December 31, 2013, in millions)	Gross Carrying Amount		Accumulated Amortization		Net
Intangibles subject to amortization
Customer-related	$	460	$	414	$	46
Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles (1)	201		113		88
Total intangible assets subject to amortization	661		527		134
Intangible assets not subject to amortization	217		—		217
Total other intangible assets	$	878	$	527	$	351

(1) The time value of money and the risk margin (cost of capital) components of the intangible asset run off at different rates, and, as such, the amount recognized in income may be a net benefit in some periods and a net expense in other periods.

Amortization expense for other intangible assets by major asset class [Table Text Block]

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2014		2013		2014		2013
Customer-related	$	8	$	8	$	24	$	23
Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles	4		3		11		11
Total amortization expense	$	12	$	11	$	35	$	34