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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash Flows from Operating Activities      
Net Income $ 1,678 $ 2,174 $ 2,183
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities      
Increase in Unpaid Losses and Loss Expenses, Net 361 145 262
Increase (Decrease) in Unearned Premiums, Net 114 21 (254)
Decrease (Increase) in Premiums Receivable (63) 3 100
Change in Income Tax Payable or Recoverable (102) 178 (27)
Deferred Income Tax 25 136 86
Amortization of Premiums and Discounts on Fixed Maturities 147 154 168
Depreciation 58 63 69
Realized Investment Gains, Net (288) (426) (23)
Other, Net (52) (117) (147)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 1,878 2,331 2,417
Cash Flows from Investing Activities      
Proceeds from Fixed Maturities - Sales 1,730 2,287 3,029
Proceeds from Fixed Maturities - Maturities, Calls and Redemptions 3,540 2,856 2,578
Proceeds from Sales of Equity Securities 167 129 394
Purchases of Fixed Maturities (5,014) (5,176) (7,372)
Purchases of Equity Securities (95) (156) (37)
Investments in Other Invested Assets, Net 285 173 (37)
Decrease (Increase) in Short Term Investments, Net 11 38 563
Increase (Decrease) in Net Payable from Security Transactions not Settled 8 (24) 72
Purchases of Property and Equipment, Net (52) (54) (52)
Other, Net   (6) 6
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 580 67 (856)
Cash Flows from Financing Activities      
Repayment of Long Term Debt (400) 0 0
Increase (Decrease) in Funds Held Under Deposit Contracts 7 22 (53)
Proceeds from Issuance of Common Stock Under Stock-Based Employee Compensation Plans 80 74 34
Repurchase of Shares (1,707) (2,003) (1,060)
Dividends Paid to Shareholders (450) (472) (487)
NET CASH USED IN FINANCING ACTIVITIES (2,470) (2,379) (1,566)
Net Increase (Decrease) in Cash (12) 19 (5)
Cash at Beginning of Year 70 51 56
CASH AT END OF YEAR $ 58 $ 70 $ 51