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Consolidated Statement of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Property and casualty insurance net earned premiums $ 4,328 $ 4,224 $ 3,878
Life, accident and health net earned premiums 24 104 108
Net investment income 1,696 1,633 1,501
Realized gains (losses) on:      
Securities 19 (19) 52
Subsidiaries 2 (161) 0
Income (loss) of managed investment entities:      
Investment income 190 155 116
Gain (loss) on change in fair value of assets/liabilities 15 (34) (44)
Other income 224 243 122
Total revenues 6,498 6,145 5,733
Costs and Expenses:      
Property and casualty insurance: Losses and loss adjustment expenses 2,762 2,695 2,494
Property and casualty insurance: Commissions and other underwriting expenses 1,349 1,320 1,172
Annuity benefits 800 732 648
Life, accident and health benefits 33 131 164
Annuity and supplemental insurance acquisition expenses 186 179 193
Interest charges on borrowed money 77 75 74
Expenses of managed investment entities 151 112 82
Other expenses 353 336 280
Total costs and expenses 5,711 5,580 5,107
Earnings before income taxes 787 565 626
Provision for income taxes 119 195 220
Net earnings, including noncontrolling interests 668 370 406
Less: Net earnings (loss) attributable to noncontrolling interests 19 18 (46)
Net Earnings Attributable to Shareholders $ 649 $ 352 $ 452
Earnings Attributable to Shareholders per Common Share:      
Basic (USD per share) $ 7.47 $ 4.02 $ 5.07
Diluted (USD per share) $ 7.33 $ 3.94 $ 4.97
Average number of Common Shares:      
Basic (shares) 86.9 87.6 89.0
Diluted (shares) 88.5 89.4 91.0
Cash dividends per Common Share (USD per share) $ 2.1525 $ 2.03 $ 1.91
Supplemental disclosure of Realized gains (losses) on securities:      
Realized gains before impairments $ 135 $ 106 $ 88
Losses on securities with impairment (115) (125) (36)
Non-credit portion recognized in other comprehensive income (loss) (1) 0 0
Impairment charges recognized in earnings (116) (125) (36)
Total realized gains (losses) on securities $ 19 $ (19) $ 52