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Consolidated Statement of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Property and casualty insurance net earned premiums $ 5,099 $ 5,185 $ 4,865
Net investment income 2,132 2,303 2,094
Realized gains (losses) on:      
Securities 289 287 (266)
Subsidiaries 23 0 0
Income of managed investment entities:      
Investment income 201 269 255
Gain (loss) on change in fair value of assets/liabilities (39) (30) (21)
Other income 204 223 223
Total revenues 7,909 8,237 7,150
Costs and Expenses:      
Property and casualty insurance: Losses and loss adjustment expenses 3,271 3,271 3,003
Property and casualty insurance: Commissions and other underwriting expenses 1,625 1,725 1,583
Annuity benefits 1,192 1,151 998
Annuity and supplemental insurance acquisition expenses 306 253 261
Interest charges on borrowed money 88 68 62
Expenses of managed investment entities 149 220 211
Other expenses 430 441 393
Total costs and expenses 7,061 7,129 6,511
Earnings before income taxes 848 1,108 639
Provision for income taxes 127 239 122
Net earnings, including noncontrolling interests 721 869 517
Less: Net earnings (loss) attributable to noncontrolling interests (11) (28) (13)
Net Earnings Attributable to Shareholders $ 732 $ 897 $ 530
Earnings Attributable to Shareholders per Common Share:      
Basic (USD per share) $ 8.25 $ 9.98 $ 5.95
Diluted (USD per share) $ 8.20 $ 9.85 $ 5.85
Average number of Common Shares:      
Basic (shares) 88.7 89.9 89.0
Diluted (shares) 89.2 91.0 90.6