Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Reconciliation of Revenue and operating Income from Segments to Consolidated

Following are the operating results for the respective periods:


	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
(millions)	Revenues		Pretax Profit (Loss)		Revenues		Pretax Profit (Loss)		Revenues		Pretax Profit (Loss)			Revenues		Pretax Profit (Loss)
Personal Lines
Agency	$	6,213.4	$	788.5	$	5,207.2	$	(71.2)	$	12,071.1	$	1,739.2		$	10,067.4	$	91.4
Direct	7,595.5		782.7		6,180.7		126.5		14,616.0		1,826.3			11,898.1		104.4
Total Personal Lines1	13,808.9		1,571.2		11,387.9		55.3		26,687.1		3,565.5			21,965.5		195.8
Commercial Lines	2,664.5		303.8		2,454.1		87.2		5,221.9		512.8			4,810.2		124.4
Property	735.9		(487.8)		622.3		(206.8)		1,448.7		(440.9)			1,221.0		(239.5)
Other indemnity2	0.2		(0.6)		0.1		0		0.4		(0.9)			0.8		(3.4)
Total underwriting operations	17,209.5		1,386.6		14,464.4		(64.3)		33,358.1		3,636.5			27,997.5		77.3
Fees and other revenues3	259.8		NA		226.7		NA		496.3		NA			432.9		NA
Service businesses	106.3		(8.0)		81.0		(9.6)		190.5		(15.9)			153.5		(19.4)
Investments4	558.7		551.4		581.4		575.3		1,331.9		1,318.9			1,072.8		1,061.2
Interest expense	NA		(69.6)		NA		(65.7)		NA		(139.2)			NA		(129.0)
Consolidated total	$	18,134.3	$	1,860.4	$	15,353.5	$	435.7	$	35,376.8	$	4,800.3		$	29,656.7	$	990.1

NA = Not applicable

1 Personal auto insurance accounted for 95% of the total Personal Lines segment net premiums earned during the three and six months ended June 30, 2024, and 94% for the same periods in 2023; insurance for our special lines products accounted for the balance of the Personal Lines net premiums earned.

2 Includes other underwriting business and run-off operations.

3 Pretax profit (loss) for fees and other revenues is allocated to operating segments based on revenue.

4 Revenues represent recurring investment income and total net realized gains (losses) on securities; pretax profit (loss) is net of investment expenses.

Underwriting Margins and Combined Ratios for our Underwriting Operations

Following are the underwriting margins and combined ratios for our underwriting operations for the respective periods:


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
	Under-writing Margin		Combined Ratio	Under-writing Margin		Combined Ratio	Under-writing Margin		Combined Ratio	Under-writing Margin		Combined Ratio
Personal Lines
Agency	12.7	%	87.3	(1.4)	%	101.4	14.4	%	85.6	0.9	%	99.1
Direct	10.3		89.7	2.0		98.0	12.5		87.5	0.9		99.1
Total Personal Lines	11.4		88.6	0.5		99.5	13.4		86.6	0.9		99.1
Commercial Lines	11.4		88.6	3.6		96.4	9.8		90.2	2.6		97.4
Property	(66.3)		166.3	(33.2)		133.2	(30.4)		130.4	(19.6)		119.6
Total underwriting operations	8.1		91.9	(0.4)		100.4	10.9		89.1	0.3		99.7