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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues      
Net premiums written $ 28,145 $ 17,713 $ 17,799
Decrease (increase) in unearned premiums 604 (500) (373)
Net premiums earned 28,749 17,213 17,426
Net investment income 2,865 2,194 2,252
Net realized gains (losses):      
Other-than-temporary impairment (OTTI) losses gross (111) (151) (75)
Portion of OTTI losses recognized in other comprehensive income (OCI) 8 39 7
Net OTTI losses recognized in income (103) (112) (68)
Net realized gains (losses) excluding OTTI losses (42) (308) (439)
Total Net realized gains (losses) including OTTI (145) (420) (507)
Total revenues 31,469 18,987 19,171
Expenses      
Losses and loss expenses 16,052 9,484 9,649
Policy benefits 588 543 517
Policy Acquisition Costs 5,904 2,941 3,075
Administrative expenses 3,081 2,270 2,245
Interest expense 605 300 280
Other (income) expense (222) (51) (190)
Amortization of Purchased Intangibles 19 171 108
Chubb integration expenses 492 33 0
Total expenses 26,519 15,691 15,684
Income before income tax 4,950 3,296 3,487
Income tax expense 815 462 634
Net income 4,135 2,834 2,853
Other comprehensive income (loss)      
Unrealized appreciation (depreciation) (35) (1,280) 820
Reclassification adjustment for net realized (gains) losses included in net income 119 151 24
Other comprehensive income (loss) after reclassification for net realized gains included in net income 84 (1,129) 844
Change in:      
Cumulative foreign currency translation adjustment (154) (958) (632)
Postretirement benefit liability adjustment 545 15 2
Other comprehensive income (loss), before income tax 475 (2,072) 214
Income tax (expense) benefit related to OCI items (54) 146 (175)
Other comprehensive income (loss) 421 (1,926) 39
Comprehensive income $ 4,556 $ 908 $ 2,892
Earnings per share      
Basic earnings per share $ 8.94 $ 8.71 $ 8.50
Diluted earnings per share $ 8.87 $ 8.62 $ 8.42