XML 166 R151.htm IDEA: XBRL DOCUMENT v3.24.0.1
Business Segments (Income Statement Information) (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]              
Net written premiums         $ 9,892 $ 9,128 $ 8,405
Operating revenues              
Net earned premiums         9,480 8,667 [1] 8,175 [1]
Net investment income         2,264 1,805 [1] 2,159 [1]
Non-insurance warranty revenue         1,624 1,574 [1] 1,430 [1]
Other revenues         30 32 [1] 24 [1]
Total operating revenues         13,398 12,078 11,788
Claims, Benefits and Expenses              
Net incurred claims and benefits         7,039 6,628 6,349
Policyholders’ dividends         29 25 22
Amortization of deferred acquisition costs         1,644 1,490 [1] 1,443 [1]
Non-insurance warranty expense         1,544 1,471 [1] 1,328 [1]
Other insurance related expenses         1,251 1,160 1,062
Other expenses         274 291 242
Total claims, benefits and expenses         11,781 11,065 [1] 10,446 [1]
Core income (loss) before income tax         1,617 1,013 1,342
Income tax (expense) benefit on core income (loss)         (333) (177) (254)
Core income (loss)  $ 265 $ 43 $ 230 $ 298 1,284 836 1,088
Net investment gains (losses)         (99) (199) 120
Income tax (expense) benefit on net investment gains (losses)         20 45 (24)
Net investment gains (losses), after tax         (79) (154) 96
Net income (loss)         1,205 682 1,184
Operating Segments | Specialty              
Segment Reporting Information [Line Items]              
Net written premiums         3,329 3,306 3,225
Operating revenues              
Net earned premiums         3,307 3,203 3,076
Net investment income         558 431 497
Non-insurance warranty revenue         1,624 1,574 1,430
Other revenues         1 1 1
Total operating revenues         5,490 5,209 5,004
Claims, Benefits and Expenses              
Net incurred claims and benefits         1,923 1,839 1,787
Policyholders’ dividends         8 6 3
Amortization of deferred acquisition costs         686 656 643
Non-insurance warranty expense         1,544 1,471 1,328
Other insurance related expenses         373 336 296
Other expenses         53 51 47
Total claims, benefits and expenses         4,587 4,359 4,104
Core income (loss) before income tax         903 850 900
Income tax (expense) benefit on core income (loss)         (195) (182) (196)
Core income (loss)          708 668 704
Operating Segments | Commercial              
Segment Reporting Information [Line Items]              
Net written premiums         4,880 4,193 3,595
Operating revenues              
Net earned premiums         4,547 3,923 3,552
Net investment income         645 488 624
Non-insurance warranty revenue         0 0 0
Other revenues         29 30 23
Total operating revenues         5,221 4,441 4,199
Claims, Benefits and Expenses              
Net incurred claims and benefits         2,995 2,607 2,540
Policyholders’ dividends         21 19 19
Amortization of deferred acquisition costs         729 634 594
Non-insurance warranty expense         0 0 0
Other insurance related expenses         620 557 511
Other expenses         30 36 38
Total claims, benefits and expenses         4,395 3,853 3,702
Core income (loss) before income tax         826 588 497
Income tax (expense) benefit on core income (loss)         (174) (122) (103)
Core income (loss)          652 466 394
Operating Segments | International              
Segment Reporting Information [Line Items]              
Net written premiums         1,237 1,164 1,101
Operating revenues              
Net earned premiums         1,176 1,070 1,057
Net investment income         103 63 57
Non-insurance warranty revenue         0 0 0
Other revenues         0 1 0
Total operating revenues         1,279 1,134 1,114
Claims, Benefits and Expenses              
Net incurred claims and benefits         722 637 652
Policyholders’ dividends         0 0 0
Amortization of deferred acquisition costs         229 200 206
Non-insurance warranty expense         0 0 0
Other insurance related expenses         139 146 144
Other expenses         (4) 26 (2)
Total claims, benefits and expenses         1,086 1,009 1,000
Core income (loss) before income tax         193 125 114
Income tax (expense) benefit on core income (loss)         (48) (19) (28)
Core income (loss)          145 106 86
Operating Segments | Life & Group              
Segment Reporting Information [Line Items]              
Net written premiums         447 467 485
Operating revenues              
Net earned premiums         451 473 491
Net investment income         896 804 966
Non-insurance warranty revenue         0 0 0
Other revenues         (1) (1) 0
Total operating revenues         1,346 1,276 1,457
Claims, Benefits and Expenses              
Net incurred claims and benefits         1,317 1,469 1,261
Policyholders’ dividends         0 0 0
Amortization of deferred acquisition costs         0 0 0
Non-insurance warranty expense         0 0 0
Other insurance related expenses         118 118 103
Other expenses         1 9 10
Total claims, benefits and expenses         1,436 1,596 1,374
Core income (loss) before income tax         (90) (320) 83
Income tax (expense) benefit on core income (loss)         42 99 25
Core income (loss)          (48) (221) 108
Operating Segments | Corporate & Other              
Segment Reporting Information [Line Items]              
Net written premiums         0 (1) 0
Operating revenues              
Net earned premiums         0 (1) 0
Net investment income         62 19 15
Non-insurance warranty revenue         0 0 0
Other revenues         11 6 6
Total operating revenues         73 24 21
Claims, Benefits and Expenses              
Net incurred claims and benefits         82 76 109
Policyholders’ dividends         0 0 0
Amortization of deferred acquisition costs         0 0 0
Non-insurance warranty expense         0 0 0
Other insurance related expenses         2 4 9
Other expenses         204 174 155
Total claims, benefits and expenses         288 254 273
Core income (loss) before income tax         (215) (230) (252)
Income tax (expense) benefit on core income (loss)         42 47 48
Core income (loss)          (173) (183) (204)
Eliminations              
Segment Reporting Information [Line Items]              
Net written premiums         (1) (1) (1)
Operating revenues              
Net earned premiums         (1) (1) (1)
Net investment income         0 0 0
Non-insurance warranty revenue         0 0 0
Other revenues         (10) (5) (6)
Total operating revenues         (11) (6) (7)
Claims, Benefits and Expenses              
Net incurred claims and benefits         0 0 0
Policyholders’ dividends         0 0 0
Amortization of deferred acquisition costs         0 0 0
Non-insurance warranty expense         0 0 0
Other insurance related expenses         (1) (1) (1)
Other expenses         (10) (5) (6)
Total claims, benefits and expenses         (11) (6) (7)
Core income (loss) before income tax         0 0 0
Income tax (expense) benefit on core income (loss)         0 0 0
Core income (loss)          $ 0 $ 0 $ 0
[1] As of January 1, 2023, the Company adopted ASU 2018-12, Financial Services-Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (ASU 2018-12) using the modified retrospective method applied as of the transition date of January 1, 2021. Prior period amounts in the financial statements have been adjusted to reflect application of the new guidance. See Note A to the Consolidated Financial Statements for additional information.