v3.2.0.727
Consolidated Statements Of Operations and Comprehensive Income - Entity [Domain] - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Net premiums written $ 4,784 $ 4,559 $ 8,860 $ 8,744
Increase in unearned premiums (424) (227) (573) (442)
Net premiums earned 4,360 4,332 8,287 8,302
Net investment income 562 556 1,113 1,109
Net realized gains (losses):        
Other-than-temporary impairment (OTTI) losses gross (14) (13) (27) (25)
Portion of OTTI losses recognized in other comprehensive income (OCI) 6 1 6 2
Net OTTI losses recognized in income (8) (12) (21) (23)
Net realized gains (losses) excluding OTTI losses 134 (61) 58 (154)
Total net realized gains (losses) (includes $34, $21, $31, and $27 reclassified from AOCI) 126 (73) 37 (177)
Total revenues 5,048 4,815 9,437 9,234
Expenses        
Losses and loss expenses 2,417 2,388 4,539 4,549
Policy benefits 153 144 295 258
Policy acquisition costs 727 758 1,434 1,486
Administrative expenses 578 566 1,132 1,101
Interest expense 71 72 139 143
Other (income) expense 17 (25) 12 (42)
Total expenses 3,963 3,903 7,551 7,495
Income before income tax 1,085 912 1,886 1,739
Income tax expense (includes $10, $5, $14, and $2 on reclassified unrealized gains) 143 133 263 226
Net income 942 779 1,623 1,513
Other comprehensive income (loss)        
Unrealized appreciation (depreciation) (816) 589 (375) 1,108
Reclassification adjustment for net realized gains included in net income (34) (21) (31) (27)
Unrealized appreciation (Depreciation) after reclassification adjustment (850) 568 (406) 1,081
Change in:        
Cumulative translation adjustment 136 153 (285) 120
Pension liability (6) (5) 7 (13)
Other comprehensive income (loss), before income tax (720) 716 (684) 1,188
Income tax (expense) benefit related to OCI items 175 (147) 100 (245)
Other comprehensive income (loss) (545) 569 (584) 943
Comprehensive income $ 397 $ 1,348 $ 1,039 $ 2,456
Earnings per share        
Basic earnings per share $ 2.89 $ 2.30 $ 4.97 $ 4.47
Diluted earnings per share $ 2.86 $ 2.28 $ 4.91 $ 4.43
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member]        
Net realized gains (losses):        
Total net realized gains (losses) (includes $34, $21, $31, and $27 reclassified from AOCI) $ 34 $ 21 $ 31 $ 27
Expenses        
Income tax expense (includes $10, $5, $14, and $2 on reclassified unrealized gains) $ 10 $ 5 $ 14 $ 2