Federal and Foreign Income Tax (Tables)

12 Months Ended

Dec. 31, 2011

Federal and Foreign Income Tax [Abstract]

Income tax expense and taxes paid

	Years Ended December 31
	2011		2010		2009
	(in millions)
Income tax expense
Current tax
United States	$	260	$	436	$	532
Foreign		236		242		161
Deferred tax, principally United States		25		136		86
	$	521	$	814	$	779
Federal and foreign income taxes paid	$	598	$	500	$	720

Reconciliation of effective income tax rate and statutory federal corporate tax rate

	Years Ended December 31
	2011						2010						2009
				% of						% of						% of
				Pre-Tax						Pre-Tax						Pre-Tax
	Amount			Income			Amount			Income			Amount			Income
	(in millions)
Income before federal and foreign income tax	$	2,199					$	2,988					$	2,962
Tax at statutory federal income tax rate	$	770			35.0	%	$	1,046			35.0	%	$	1,037			35.0	%
Tax exempt interest income		(243	)		(11.0	)		(241	)		(8.1	)		(239	)		(8.1	)
Other, net		(6	)		(.3	)		9			.3			(19	)		(.6	)
Federal and foreign income tax	$	521			23.7	%	$	814			27.2	%	$	779			26.3	%

The tax effects of temporary differences that gave rise to deferred income tax assets and liabilities

	December 31
	2011			2010
	(in millions)
Deferred income tax assets
Unpaid losses and loss expenses	$	632		$	643
Unearned premiums		339			334
Foreign tax credits		853			834
Employee compensation		116			125
Postretirement benefits		293			165
Other-than-temporary impairment losses		286			290
Total		2,519			2,391
Deferred income tax liabilities
Deferred policy acquisition costs		457			441
Unremitted earnings of foreign subsidiaries		925			936
Unrealized appreciation of investments		934			603
Other invested assets		235			212
Other, net		117			101
Total		2,668			2,293
Net deferred income tax asset (liability)	$	(149	)	$	98