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Quarterly Financial Data - Summary of Quarterly Financial Data (Detail) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues $ 3,400 [1] $ 3,362 $ 3,423 $ 3,410 $ 3,345 $ 3,420 $ 3,400 $ 3,420 $ 13,595 $ 13,585 $ 13,319
Losses and expenses 3,337 [1] 2,635 2,896 2,731 2,743 3,054 2,854 2,735 11,599 11,386 10,331
Federal and foreign income tax (credit) (39) 194 123 173 150 68 127 176 451 521 814
NET INCOME $ 102 [1] $ 533 $ 404 $ 506 $ 452 $ 298 $ 419 $ 509 $ 1,545 $ 1,678 $ 2,174
Basic earnings per share $ 0.39 [1] $ 1.99 $ 1.49 $ 1.85 $ 1.62 $ 1.04 $ 1.43 $ 1.71 $ 5.73 $ 5.80 $ 6.81
Diluted earnings per share $ 0.38 [1] $ 1.98 $ 1.48 $ 1.83 $ 1.60 $ 1.04 $ 1.42 $ 1.70 $ 5.69 $ 5.76 $ 6.76
Underwriting ratios                      
Losses to premiums earned 0.803 [1] 0.538 0.625 0.580 0.593 0.702 0.636 0.620      
Expenses to premiums written 0.309 [1] 0.325 0.313 0.322 0.306 0.324 0.313 0.317      
Combined loss and expense ratio 1.112 [1] 0.863 0.938 0.902 0.899 1.026 0.949 0.937      
[1] In the fourth quarter of 2012, revenues were reduced by net reinsurance reinstatement premium costs of $53 million and losses and expenses included net losses of $829 million related to Storm Sandy. Net income for the quarter was reduced by $573 million or $2.15 per diluted share ($2.16 per share basic) for the after-tax effect of the net costs. Excluding the impact of Storm Sandy, the losses to premiums earned ratio was 50.9%, the expenses to premiums written ratio was 30.4% and the combined ratio was 81.3%.