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Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Profit and Loss Information

Segment information is summarized in the following table:

(Dollars in millions)						Years ended December 31,
						2024						2023						2022
Commercial lines insurance
Commercial lines insurance premiums						$	4,486					$	4,264					$	4,024
Fee revenues						4						4						4
Total commercial lines insurance revenues						4,490						4,268						4,028
Loss and loss expenses						2,795						2,787						2,761
Underwriting expenses						1,384						1,313						1,229
Total commercial lines income before income taxes						311						168						38
Personal lines insurance
Personal lines insurance premiums						2,623						2,044						1,689
Fee revenues						5						4						4
Total personal lines insurance revenues						2,628						2,048						1,693
Loss and loss expenses						1,795						1,442						1,166
Underwriting expenses						762						610						509
Total personal lines income (loss) before income taxes						71						(4)						18
Excess and surplus lines insurance
Excess and surplus lines insurance premiums						615						542						485
Fee revenues						3						3						2
Total excess and surplus lines insurance revenues						618						545						487
Loss and loss expenses						411						350						315
Underwriting expenses						167						141						124
Total excess and surplus lines income before income taxes						40						54						48
Life insurance
Life insurance premiums						321						313						301
Fee revenues						5						10						4
Total life insurance revenues						326						323						305
Contract holders' benefits incurred						301						316						303
Investment interest credited to contract holders						(125)						(121)						(109)
Underwriting expenses incurred						93						87						84
Total life insurance income before income taxes						57						41						27
Investments
Investment income, net of expenses						1,025						894						781
Investment gains and losses, net						1,391						1,127						(1,467)
Total investment revenue						2,416						2,021						(686)
Investment interest credited to contract holders						125						121						109
Total investment income (loss) before income taxes						2,291						1,900						(795)
Reconciliation to consolidated income (loss) before income taxes
Total segment revenues						10,478						9,205						5,827
Other earned premiums						844						795						726
Other revenues						15						13						10
Total revenues						11,337						10,013						6,563
Total segment benefits and expenses						7,708						7,046						6,491
Other loss and loss expenses						435						379						474
Other underwriting expenses						251						233						216
Other benefits and expenses						85						79						76
Total benefits and expenses						8,479						7,737						7,257
Total income (loss) before income taxes						$	2,858					$	2,276					$	(694)

 

Reconciliation of Assets from Segment to Consolidated

Identifiable assets by segment are summarized in the following table:

(Dollars in millions)						December 31,						December 31,
						2024						2023
Identifiable assets:
Property casualty insurance						$	5,927					$	5,294
Life insurance						1,658						1,562
Investments						27,887						24,999
Other						1,029						914
Total						$	36,501					$	32,769

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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