Goodwill and Other Intangible Assets (tables)

9 Months Ended

Sep. 30, 2015

Goodwill and Other Intangible Assets disclosure

Goodwill by segment [Table Text Block]

(in millions)	September 30, 2015		December 31, 2014
Business and International Insurance (1)	$	2,443	$	2,476
Bond & Specialty Insurance	496		495
Personal Insurance	612		613
Other	28		27
Total	$	3,579	$	3,611

(1) Includes goodwill associated with the Company’s international business 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, 2015, in millions)	Gross Carrying Amount		Accumulated Amortization		Net
Intangibles subject to amortization
Customer-related (1)	$	4	$	4	$	—
Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles (2)	208		145		63
Total intangible assets subject to amortization	212		149		63
Intangible assets not subject to amortization	217		—		217
Total other intangible assets	$	429	$	149	$	280

(at December 31, 2014, in millions)	Gross Carrying Amount		Accumulated Amortization		Net
Intangibles subject to amortization
Customer-related	$	460	$	446	$	14
Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles (2)	209		136		73
Total intangible assets subject to amortization	669		582		87
Intangible assets not subject to amortization	217		—		217
Total other intangible assets	$	886	$	582	$	304

(1) Certain customer-related intangible assets became fully amortized during the second quarter of 2015.

(2) The time value of money and the risk adjustment (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)	2015		2014		2015		2014
Customer-related	$	—	$	8	$	14	$	24
Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles	3		4		9		11
Total amortization expense	$	3	$	12	$	23	$	35