XML 62 R11.htm IDEA: XBRL DOCUMENT v2.4.1.9
Segment Information Level 1 (Notes)
3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Segment Information
The Company currently conducts business principally in six reporting segments, as well as a Corporate category. The Company's revenues from continuing operations are generated primarily in the United States ("U.S."). Any foreign sourced revenue in continuing operations is immaterial.
The Company’s reporting segments, as well as the Corporate category, are as follows:
Commercial Lines
Commercial Lines provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the U.S., along with a variety of customized insurance products and risk management services including professional liability, bond, surety and specialty casualty coverages.
Personal Lines
Personal Lines provides standard automobile, homeowners and personal umbrella coverages to individuals across the U.S., including a special program designed exclusively for members of AARP.
Property & Casualty Other Operations
Property & Casualty Other Operations includes certain property and casualty operations, managed by the Company, that have discontinued writing new business and including substantially all of the Company’s asbestos and environmental exposures.
Group Benefits
Group Benefits provides employers, associations, affinity groups and financial institutions with group life, accident and disability coverage, along with other products and services, including voluntary benefits, and group retiree health.
Mutual Funds
Mutual Funds offers investment products for retail and retirement accounts and provides investment management and administrative services such as product design, implementation and oversight. This business also includes the runoff of the mutual funds supporting the Company's variable annuity products.
Talcott Resolution
Talcott Resolution is comprised of runoff business from the Company's individual annuity, institutional, and private-placement life insurance businesses. The Company's individual annuity business consists of annuity products for individuals, which include variable, fixed, and payout annuity products. In addition, Talcott Resolution includes the retained Japan fixed payout annuity liabilities, as well as the Company's discontinued Japan annuity business prior to its sale in 2014.
Corporate
The Company includes in the Corporate category the Company’s debt financing and related interest expense, as well as other capital raising activities, certain purchase accounting adjustments and other charges not allocated to the segments.
Financial Measures and Other Segment Information
Certain transactions between segments occur during the year that primarily relate to tax settlements, insurance coverage, expense reimbursements, services provided, security transfers and capital contributions. Also, one segment may purchase annuity contracts from another to fund pension costs and to settle certain group life claims. In addition, certain inter-segment transactions occur that relate to interest income on allocated surplus. Consolidated net investment income is unaffected by such transactions.
The following table presents net income (loss) for each reporting segment, as well as the Corporate category.
 
Three Months Ended March 31,
Net income (loss)
2015
2014
Commercial Lines
$
240

$
242

Personal Lines
76

99

Property & Casualty Other Operations
23

22

Group Benefits
52

51

Mutual Funds
22

21

Talcott Resolution
111

145

Corporate
(57
)
(85
)
Net income
$
467

$
495


The following table presents revenues by product line for each reporting segment, as well as the Corporate category.
 
Three Months Ended March 31,
Revenues
2015
2014
Earned premiums and fee income
 
 
Commercial Lines
 
 
Workers’ compensation
$
744

$
732

Property
156

136

Automobile
148

144

Package business
292

283

Liability
135

145

Bond
53

51

Professional liability
55

50

Total Commercial Lines
1,583

1,541

Personal Lines
 
 
Automobile
655

636

Homeowners
297

292

Total Personal Lines [1]
952

928

Group Benefits
 
 
Group disability
371

369

Group life
365

388

Other
44

42

Total Group Benefits
780

799

Mutual Funds
 
 
Mutual Fund
149

138

Talcott
30

36

Total Mutual Funds
179

174

Talcott Resolution
285

353

Corporate
2

3

Total earned premiums and fee income
3,781

3,798

Net investment income
809

824

Net realized capital gains
5

(35
)
Other revenues
22

25

Total revenues
$
4,617

$
4,612


[1]
For the three months ended March 31, 2015 and 2014, AARP members accounted for earned premiums of $766 and $736, respectively.