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Segment Information
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The accounting policies of the segments are the same as those described in Note 2 – “Significant Accounting Policies and Pronouncements” in the Notes to Consolidated Financial Statements included in the Company’s 2020 Annual Report. The Company measures segment performance primarily based on profit or loss from operations before income taxes. There are no intersegment reinsurance transactions and the Company does not have any material long-lived assets.
The Company allocates capital to its segments based on an internally developed economic capital model, the purpose of which is to measure the risk in the business and to provide a basis upon which capital is deployed. The economic capital model considers the unique and specific nature of the risks inherent in the Company’s businesses. As a result of the economic capital allocation process, a portion of investment income is attributed to the segments based on the level of allocated capital. In addition, the segments are charged for excess capital utilized above the allocated economic capital basis. This charge is included in policy acquisition costs and other insurance expenses.
The Company has geographic-based and business-based operational segments. Geographic-based operations are further segmented into traditional and financial solutions businesses. Information related to revenues, income (loss) before income taxes and total assets of the Company for each reportable segment are summarized below (dollars in millions):
 Three months ended March 31,
Revenues:20212020
U.S. and Latin America:
Traditional$1,637 $1,533 
Financial Solutions318 139 
Total1,955 1,672 
Canada:
Traditional343 296 
Financial Solutions26 24 
Total369 320 
Europe, Middle East and Africa:
Traditional457 407 
Financial Solutions146 78 
Total603 485 
Asia Pacific:
Traditional647 667 
Financial Solutions104 68 
Total751 735 
Corporate and Other441 (8)
Total$4,119 $3,204 
 Three months ended March 31,
Income (loss) before income taxes:20212020
U.S. and Latin America:
Traditional$(338)$(62)
Financial Solutions83 (15)
Total(255)(77)
Canada:
Traditional24 23 
Financial Solutions6 3 
Total30 26 
Europe, Middle East and Africa:
Traditional(68)17 
Financial Solutions60 30 
Total(8)47 
Asia Pacific:
Traditional41 24 
Financial Solutions28 (25)
Total69 (1)
Corporate and Other350 (91)
Total$186 $(96)
Assets:March 31, 2021December 31, 2020
U.S. and Latin America:
Traditional$20,208 $20,071 
Financial Solutions24,426 25,433 
Total44,634 45,504 
Canada:
Traditional4,937 4,682 
Financial Solutions12 13 
Total4,949 4,695 
Europe, Middle East and Africa:
Traditional4,855 4,763 
Financial Solutions6,845 7,292 
Total11,700 12,055 
Asia Pacific:
Traditional8,289 8,197 
Financial Solutions6,682 4,299 
Total14,971 12,496 
Corporate and Other8,556 9,906 
Total$84,810 $84,656