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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Net premiums written $ 8,355 $ 8,343 $ 16,332 $ 15,656
Increase in unearned premiums (227) (452) (410) (628)
Net premiums earned 8,128 7,891 15,922 15,028
Net investment income 827 859 1,688 1,695
Net realized gains (losses):        
Other-than-temporary impairment (OTTI) losses gross 0 (14) 0 (27)
Portion of OTTI losses recognized in other comprehensive income (OCI) 0 1 0 1
Net OTTI losses recognized in income 0 (13) 0 (26)
Net realized gains (losses) excluding OTTI losses 0 (210) 0 (294)
Net Realized Gains Losses 30 (223) (928) (320)
Total revenues 8,985 8,527 16,682 16,403
Expenses        
Losses and loss expenses 6,577 4,715 11,062 8,813
Policy benefits 223 161 352 357
Policy acquisition costs 1,593 1,544 3,208 3,008
Administrative expenses 727 758 1,468 1,468
Interest expense 128 140 260 280
Other (income) expense 58 (230) 113 (269)
Amortization of purchased intangibles 72 77 145 153
Chubb integration expenses 0 4 0 7
Total expenses 9,378 7,169 16,608 13,817
Income (loss) before income tax (393) 1,358 74 2,586
Income tax expense (benefit) (includes $(2), $4, $(42), and $(2) on reclassified unrealized gains and losses) (62) 208 153 396
Net income (loss) (331) 1,150 (79) 2,190
Other comprehensive income        
Unrealized appreciation (depreciation) 3,248 1,252 769 3,097
Reclassification adjustment for net realized (gains) losses included in net income (loss) 33 (12) 352 32
Unrealized appreciation (Depreciation) after reclassification adjustment 3,281 1,240 1,121 3,129
Change in:        
Cumulative foreign currency translation adjustment 445 (97) (414) 50
Postretirement benefit liability adjustment (22) (18) (36) (45)
Other comprehensive income, before income tax 3,704 1,125 671 3,134
Income tax (expense) benefit related to OCI items (513) (216) (192) (547)
Other comprehensive income 3,191 909 479 2,587
Comprehensive income $ 2,860 $ 2,059 $ 400 $ 4,777
Earnings per share        
Basic earnings (loss) per share $ (0.73) $ 2.52 $ (0.17) $ 4.78
Diluted earnings (loss) per share $ (0.73) $ 2.50 $ (0.17) $ 4.75
Total net realized gains (losses) reclassified from AOCI $ (33) $ 12 $ (352) $ (32)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax (2) 4 (42) (2)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]        
Earnings per share        
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax $ (2) $ 4 $ (42) $ (2)