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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Net premiums written $ 9,546 $ 8,355 $ 18,208 $ 16,332
Increase in unearned premiums (733) (227) (1,174) (410)
Net premiums earned 8,813 8,128 17,034 15,922
Net investment income 884 827 1,747 1,688
Realized Investment Gains (Losses) (33) 30 854 (928)
Total revenues 9,664 8,985 19,635 16,682
Expenses        
Losses and loss expenses 5,006 6,577 10,059 11,062
Policy benefits 185 223 352 352
Policy acquisition costs 1,698 1,593 3,363 3,208
Administrative expenses 775 727 1,519 1,468
Interest expense 122 128 244 260
Other (income) expense (777) [1] 58 (1,267) 113
Amortization of purchased intangibles 73 72 145 145
Total expenses 7,082 9,378 14,415 16,608
Income (loss) before income tax 2,582 (393) 5,220 74
Income tax expense (benefit) (includes $(6), $(2), $(2), and $(42) on unrealized gains and losses reclassified from AOCI) 317 (62) 655 153
Net income (loss) 2,265 (331) 4,565 (79)
Other comprehensive income (loss)        
Unrealized appreciation (depreciation) 706 3,248 (1,587) 769
Reclassification adjustment for net realized (gains) losses included in net income (loss) (12) 33 (36) 352
Unrealized appreciation (Depreciation) after reclassification adjustment 694 3,281 (1,623) 1,121
Change in:        
Cumulative foreign currency translation adjustment 308 445 330 (414)
Postretirement benefit liability adjustment (9) (22) (37) (36)
Other comprehensive income (loss), before income tax 993 3,704 (1,330) 671
Income tax (expense) benefit related to OCI items (129) (513) 283 (192)
Other comprehensive income (loss) 864 3,191 (1,047) 479
Comprehensive income $ 3,129 $ 2,860 $ 3,518 $ 400
Earnings per share        
Basic earnings (loss) per share $ 5.09 $ (0.73) $ 10.20 $ (0.17)
Diluted earnings (loss) per share $ 5.06 $ (0.73) $ 10.13 $ (0.17)
[1] Principally includes our share of operating income and market-to-market gains on private equities where we hold more than three percent. Refer to Note 11 for additional information.