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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Property and casualty insurance net earned premiums $ 1,065 $ 1,027 $ 2,087 $ 2,025
Life, accident and health net earned premiums 5 6 11 12
Net investment income 460 423 895 834
Realized gains (losses) on:        
Securities 8 (16) 11 (34)
Subsidiaries 0 2 0 2
Income (loss) of managed investment entities:        
Investment income 50 48 101 93
Gain (loss) on change in fair value of assets/liabilities 11 11 11 (2)
Other income 47 80 106 126
Total revenues 1,646 1,581 3,222 3,056
Costs and Expenses:        
Property and casualty insurance: Losses and loss adjustment expenses 635 687 1,244 1,268
Property and casualty insurance: Commissions and other underwriting expenses 366 348 705 682
Annuity benefits 224 223 420 451
Life, accident and health benefits 6 9 15 18
Annuity and supplemental insurance acquisition expenses 48 42 101 77
Interest charges on borrowed money 23 19 44 37
Expenses of managed investment entities 51 36 92 71
Other expenses 88 81 173 160
Total costs and expenses 1,441 1,445 2,794 2,764
Earnings before income taxes 205 136 428 292
Provision for income taxes 60 73 128 125
Net earnings, including noncontrolling interests 145 63 300 167
Less: Net earnings attributable to noncontrolling interests 0 9 2 12
Net Earnings Attributable to Shareholders $ 145 $ 54 $ 298 $ 155
Earnings Attributable to Shareholders per Common Share:        
Basic (USD per share) $ 1.64 $ 0.63 $ 3.40 $ 1.79
Diluted (USD per share) $ 1.61 $ 0.62 $ 3.32 $ 1.76
Average number of Common Shares:        
Basic (shares) 87.8 86.8 87.5 86.8
Diluted (shares) 89.8 88.4 89.6 88.4
Cash dividends per Common Share (USD per share) $ 1.8125 $ 0.28 $ 2.125 $ 0.56
Supplemental disclosure of Realized gains on securities:        
Realized gains before impairments $ 17 $ 23 $ 26 $ 57
Losses on securities with impairment (10) (39) (16) (90)
Non-credit portion recognized in other comprehensive income (loss) 1 0 1 (1)
Impairment charges recognized in earnings (9) (39) (15) (91)
Total realized gains (losses) on securities $ 8 $ (16) $ 11 $ (34)