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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Net earned premiums $ 2,013 $ 2,055 $ 5,240 $ 5,186
Net investment income 205 200 562 586
Realized gains (losses) on:        
Securities 12 (2) 17 10
Subsidiaries 1 0 1 0
Income of managed investment entities:        
Investment income 70 99 214 296
Gain (loss) on change in fair value of assets/liabilities 0 (9) (7) 5
Other income 30 26 84 92
Total revenues 2,331 2,369 6,111 6,175
Costs and Expenses:        
Losses and loss adjustment expenses 1,355 1,430 3,327 3,279
Commissions and other underwriting expenses 529 518 1,593 1,527
Interest charges on borrowed money 19 19 57 57
Expenses of managed investment entities 61 85 189 267
Other expenses 99 88 251 241
Total costs and expenses 2,063 2,140 5,417 5,371
Earnings before income taxes 268 229 694 804
Provision for income taxes 53 48 151 172
Net Earnings $ 215 $ 181 $ 543 $ 632
Earnings per Common Share:        
Total basic earnings (USD per share) $ 2.58 $ 2.16 $ 6.50 $ 7.54
Total diluted earnings (USD per share) $ 2.58 $ 2.16 $ 6.50 $ 7.54
Average number of Common Shares:        
Basic (shares) 83.4 83.9 83.6 83.8
Diluted (shares) 83.4 83.9 83.6 83.9