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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Data (Unaudited) [Abstract]  
Quarterly Financial Data
2020 Quarter Ended
  
Dec. 31
    
Sept. 30
    
June 30
    
March 31
  
(In millions, except per share data)
                        
                         
Total revenues
  
$
3,709
    
$
3,465
    
$
2,310
    
$
3,099
  
                                 
Net income (loss) (a) (b) (c)
    
397
      
139
      
(835
)
    
(632
)
Per share-basic and diluted
    
1.45
      
0.50
      
(2.96
)
    
(2.20
)

2019 Quarter Ended
  
Dec. 31
    
Sept. 30
    
June 30
    
March 31
  
(In millions, except per share data)
                        
                         
Total revenues
  
$
3,876
    
$
3,675
    
$
3,623
    
$
3,757
  
                                 
Net income (d) (e)
    
217
      
72
      
249
      
394
  
Per share-basic and diluted
    
0.73
      
0.24
      
0.82
      
1.27
  


The sum of the quarterly per share amounts may not equal per share amounts reported for year-to-date periods. This is due to changes in the number of weighted average shares outstanding and the effects of rounding for each period.

(a)
Net income for the third quarter of 2020 included net catastrophe losses of $112 million (after tax and noncontrolling interests) and a $52 million (after tax and noncontrolling interests) charge related to the recognition of an active life reserve premium deficiency as a result of the third quarter GPV.
(b)
Net loss for the second quarter of 2020 included an investment loss of $957 million (after tax) related to the deconsolidation of Diamond Offshore and net catastrophe losses of $212 million (after tax and noncontrolling interests).
(c)
Net loss for the first quarter of 2020 included an aggregate asset impairment charge of $408 million (after tax and noncontrolling interests) related to Diamond Offshore drilling rigs.
(d)
Net income for the fourth quarter of 2019 included net investment income of $116 million (after tax and noncontrolling interests) related to limited partnerships and equity securities partially offset by asset impairment charges of $69 million (after tax).
(e)
Net income for the third quarter of 2019 included a $151 million (after tax and noncontrolling interests) charge related to the recognition of an active life reserve premium deficiency as a result of the third quarter GPV.