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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Net premiums written $ 30,579 $ 29,244 $ 28,145
(Increase) decrease in unearned premiums (515) (210) 604
Net premiums earned 30,064 29,034 28,749
Net investment income 3,305 3,125 2,865
Net realized gains (losses):      
Other-than-temporary impairment (OTTI) losses gross (52) (46) (111)
Portion of OTTI losses recognized in other comprehensive income (OCI) 3 1 8
Net OTTI losses recognized in income 49    
Net OTTI losses recognized in income   45 103
Net realized, Gain (Loss), Excluding Other-than-temporary Impairment Loss (603)    
Net realized gains (losses) excluding OTTI losses   129 (42)
Total net realized gains (losses) (includes ($302) reclassified from AOCI) (652)    
Net Realized Investment Gains (Losses) (includes $(15), and $(119) reclassified from AOCI)   84 (145)
Total revenues 32,717 32,243 31,469
Expenses      
Losses and loss expenses 18,067 18,454 16,052
Policy benefits 590 676 588
Policy Acquisition Costs 5,912 5,781 5,904
Administrative expenses 2,886 2,833 3,081
Interest expense 641 607 605
Other (income) expense (434) (400) (222)
Amortization of Purchased Intangibles 339 260 19
Chubb integration expenses 59 310 492
Total expenses 28,060 28,521 26,519
Income before income tax 4,657 3,722 4,950
Income tax expense (benefit) (includes $(41), $(13), and $28 on reclassified unrealized gains and losses) 695 (139) 815
Net income 3,962 3,861 4,135
Other comprehensive income (loss)      
Unrealized appreciation (depreciation) (2,298) 618 (35)
Reclassification adjustment for net realized (gains) losses included in net income 302 15 119
Other comprehensive income (loss) after reclassification for net realized gains included in net income (1,996) 633 84
Change in:      
Cumulative foreign currency translation adjustment (802) 471 (154)
Postretirement benefit liability adjustment (321) (16) 545
Other comprehensive income (loss), before income tax (3,119) 1,088 475
Income tax (expense) benefit related to OCI items 399 (231) (54)
Other comprehensive income (loss) (2,720) 857 421
Comprehensive income $ 1,242 $ 4,718 $ 4,556
Earnings per share      
Basic earnings per share $ 8.55 $ 8.26 $ 8.94
Diluted earnings per share $ 8.49 $ 8.19 $ 8.87