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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Property and casualty insurance net earned premiums $ 1,585 $ 1,507 $ 3,131 $ 2,944
Net investment income 188 198 386 415
Realized gains (losses) on securities (2) (2) 12 (48)
Income of managed investment entities:        
Investment income 98 112 197 216
Gain (loss) on change in fair value of assets/liabilities 4 0 14 (4)
Other income 27 25 66 57
Total revenues 1,900 1,840 3,806 3,580
Property and casualty insurance:        
Commissions and other underwriting expenses 506 485 1,009 958
Interest charges on borrowed money 19 19 38 38
Expenses of managed investment entities 90 103 182 198
Other expenses 77 73 153 142
Total costs and expenses 1,629 1,585 3,231 3,061
Earnings before income taxes 271 255 575 519
Provision for income taxes 62 55 124 107
Net Earnings $ 209 $ 200 $ 451 $ 412
Earnings per Common Share:        
Total basic earnings (USD per share) $ 2.49 $ 2.35 $ 5.38 $ 4.84
Total diluted earnings (USD per share) $ 2.49 $ 2.34 $ 5.38 $ 4.83
Average number of Common Shares:        
Basic (shares) 83.9 85.1 83.8 85.2
Diluted (shares) 83.9 85.2 83.9 85.3
Property and casualty insurance        
Property and casualty insurance:        
Losses and loss adjustment expenses $ 937 $ 905 $ 1,849 $ 1,725