Segment Information

3 Months Ended

Mar. 31, 2016

Segment Information disclosure

Segment Information disclosure [Text Block]

2.             SEGMENT INFORMATION

The following tables summarize the components of the Company’s operating revenues, operating income and total assets by reportable business segments:

(for the three months ended March 31, in millions)	Business and International Insurance		Bond & Specialty Insurance		Personal Insurance		Total Reportable Segments
2016
Premiums	$	3,599	$	508	$	1,874	$	5,981
Net investment income	415		52		77		544
Fee income	114		—		3		117
Other revenues	33		3		14		50
Total operating revenues (1)	$	4,161	$	563	$	1,968	$	6,692
Operating income (1)	$	476	$	144	$	139	$	759
2015
Premiums	$	3,620	$	504	$	1,764	$	5,888
Net investment income	454		56		82		592
Fee income	111		—		3		114
Other revenues	8		5		12		25
Total operating revenues (1)	$	4,193	$	565	$	1,861	$	6,619
Operating income (1)	$	515	$	124	$	252	$	891

(1) Operating revenues for reportable business segments exclude net realized investment gains (losses). Operating income for reportable business segments equals net income excluding the after-tax impact of net realized investment gains (losses).

Business Segment Reconciliations

	Three Months Ended March 31,
(in millions)	2016			2015
Revenue reconciliation
Earned premiums
Business and International Insurance:
Domestic:
Workers’ compensation	$	981		$	962
Commercial automobile	491			468
Commercial property	437			440
General liability	482			468
Commercial multi-peril	782			774
Other	5			10
Total Domestic	3,178			3,122
International	421			498
Total Business and International Insurance	3,599			3,620
Bond & Specialty Insurance:
Fidelity and surety	230			225
General liability	234			236
Other	44			43
Total Bond & Specialty Insurance	508			504
Personal Insurance:
Automobile	936			836
Homeowners and Other	938			928
Total Personal Insurance	1,874			1,764
Total earned premiums	5,981			5,888
Net investment income	544			592
Fee income	117			114
Other revenues	50			25
Total operating revenues for reportable segments	6,692			6,619
Other revenues	3			—
Net realized investment gains (losses)	(9		)	10
Total consolidated revenues	$	6,686		$	6,629
Income reconciliation, net of tax
Total operating income for reportable segments	$	759		$	891
Interest Expense and Other (1)	(61		)	(64		)
Total operating income	698			827
Net realized investment gains (losses)	(7		)	6
Total consolidated net income	$	691		$	833

(1) The primary component of Interest Expense and Other for the three months ended March 31, 2016 and 2015 was after-tax interest expense of $59 million and $60 million, respectively.

(in millions)	March 31, 2016		December 31, 2015
Asset reconciliation:
Business and International Insurance	$	80,961	$	79,692
Bond & Specialty Insurance	7,537		7,360
Personal Insurance	12,905		12,748
Total assets for reportable segments	101,403		99,800
Other assets (1)	277		384
Total consolidated assets	$	101,680	$	100,184

(1) The primary component of other assets at March 31, 2016 was other intangible assets and the primary components at December 31, 2015 were other intangible assets and deferred taxes.