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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Property and casualty insurance net earned premiums $ 1,267 $ 1,159 $ 3,354 $ 3,184
Life, accident and health net earned premiums 6 6 17 18
Net investment income 471 433 1,366 1,267
Realized gains (losses) on:        
Securities (12) 2 (1) (32)
Subsidiaries 0 0 0 2
Income of managed investment entities:        
Investment income 54 48 155 141
Gain on change in fair value of assets/liabilities 1 11 12 9
Other income 48 46 154 172
Total revenues 1,835 1,705 5,057 4,761
Costs and Expenses:        
Property and casualty insurance: Losses and loss adjustment expenses 995 765 2,239 2,033
Property and casualty insurance: Commissions and other underwriting expenses 357 356 1,062 1,038
Annuity benefits 215 189 635 640
Life, accident and health benefits 6 8 21 26
Annuity and supplemental insurance acquisition expenses 55 54 156 131
Interest charges on borrowed money 21 19 65 56
Expenses of managed investment entities 45 38 137 109
Other expenses 112 98 285 258
Total costs and expenses 1,806 1,527 4,600 4,291
Earnings before income taxes 29 178 457 470
Provision for income taxes 18 65 146 190
Net earnings, including noncontrolling interests 11 113 311 280
Less: Net earnings attributable to noncontrolling interests 0 4 2 16
Net Earnings Attributable to Shareholders $ 11 $ 109 $ 309 $ 264
Earnings Attributable to Shareholders per Common Share:        
Basic (USD per share) $ 0.13 $ 1.25 $ 3.52 $ 3.04
Diluted (USD per share) $ 0.13 $ 1.23 $ 3.44 $ 2.98
Average number of Common Shares:        
Basic (shares) 88.1 86.9 87.7 86.8
Diluted (shares) 90.0 88.5 89.7 88.4
Cash dividends per Common Share (USD per share) $ 0.3125 $ 0.28 $ 2.4375 $ 0.84
Supplemental disclosure of Realized gains on securities:        
Realized gains before impairments $ 26 $ 18 $ 52 $ 75
Losses on securities with impairment (38) (16) (54) (106)
Non-credit portion recognized in other comprehensive income (loss) 0 0 1 (1)
Impairment charges recognized in earnings (38) (16) (53) (107)
Total realized gains (losses) on securities $ (12) $ 2 $ (1) $ (32)