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Consolidated Statement of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Net earned premiums $ 7,036 $ 6,531 $ 6,085
Net investment income 780 742 717
Realized gains (losses) on:      
Securities 0 (36) (116)
Realized loss on subsidiary 0 (4) 0
Income of managed investment entities:      
Investment income 380 421 268
Gain (loss) on change in fair value of assets/liabilities 4 27 (31)
Other income 124 146 117
Total revenues 8,324 7,827 7,040
Costs and Expenses:      
Losses and loss adjustment expenses 4,460 4,033 3,629
Commissions and other underwriting expenses 2,007 1,935 1,718
Interest charges on borrowed money 76 76 85
Expenses of managed investment entities 338 405 230
Other expenses 319 305 255
Total costs and expenses 7,200 6,754 5,917
Earnings before income taxes 1,124 1,073 1,123
Provision for income taxes 237 221 225
Net Earnings $ 887 $ 852 $ 898
Earnings per Common Share:      
Basic (USD per share) $ 10.57 $ 10.06 $ 10.55
Diluted (USD per share) $ 10.57 $ 10.05 $ 10.53
Average number of Common Shares:      
Basic (shares) 83.9 84.7 85.1
Diluted (shares) 83.9 84.8 85.3