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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Net premiums written $ 7,977 $ 7,313
Increase in unearned premiums (183) (176)
Net premiums earned 7,794 7,137
Net investment income 861 836
Net realized gains (losses):    
Other-than-temporary impairment (OTTI) losses gross 0 (13)
Portion of OTTI losses recognized in other comprehensive income (OCI) 0 0
Net OTTI losses recognized in income 0 (13)
Net realized gains (losses) excluding OTTI losses 0 (84)
Net Realized Gains Losses (958) (97)
Total revenues 7,697 7,876
Expenses    
Losses and loss expenses 4,485 4,098
Policy benefits 129 196
Policy acquisition costs 1,615 1,464
Administrative expenses 741 710
Interest expense 132 140
Other (income) expense 55 (39)
Amortization of purchased intangibles 73 76
Chubb integration expenses 0 3
Total expenses 7,230 6,648
Income before income tax 467 1,228
Income tax expense (benefit) (includes $(40) and $(6) on reclassified unrealized gains and losses) 215 188
Net income 252 1,040
Other comprehensive income (loss)    
Unrealized appreciation (depreciation) (2,479) 1,845
Reclassification adjustment for net realized (gains) losses included in net income 319 44
Unrealized appreciation (Depreciation) after reclassification adjustment (2,160) 1,889
Change in:    
Cumulative foreign currency translation adjustment (859) 147
Postretirement benefit liability adjustment (14) (27)
Other comprehensive income (loss), before income tax (3,033) 2,009
Income tax (expense) benefit related to OCI items 321 (331)
Other comprehensive income (loss) (2,712) 1,678
Comprehensive income (loss) $ (2,460) $ 2,718
Earnings per share    
Basic earnings per share $ 0.56 $ 2.27
Diluted earnings per share $ 0.55 $ 2.25