Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Reconciliation of Revenue and operating Income from Segments to Consolidated

Following are the operating results for the respective periods:



	Three Months Ended June 30,										Six Months Ended June 30,
	2014					2013					2014					2013
(millions)	Revenues		Pretax Profit (Loss)			Revenues		Pretax Profit (Loss)			Revenues		Pretax Profit (Loss)			Revenues		Pretax Profit (Loss)
Personal Lines
Agency	$	2,242.3	$	142.9		$	2,151.5	$	131.5		$	4,445.5	$	321.5		$	4,258.7	$	306.4
Direct	1,824.0		115.7			1,685.4		126.0			3,586.2		186.7			3,327.0		253.2
Total Personal Lines¹	4,066.3		258.6			3,836.9		257.5			8,031.7		508.2			7,585.7		559.6
Commercial Lines	447.2		78.4			440.1		32.1			884.1		119.3			870.5		47.4
Other indemnity	0		(4.7		)	0		(3.8		)	0		(5.4		)	.1		(3.5		)
Total underwriting operations	4,513.5		332.3			4,277.0		285.8			8,915.8		622.1			8,456.3		603.5
Fees and other revenues²	74.4		NA			70.9		NA			147.2		NA			139.3		NA
Service businesses	14.0		1.1			10.6		.2			23.8		1.2			19.0		0
Investments³	139.6		133.6			235.1		230.7			362.3		352.2			416.2		406.9
Interest expense	NA		(29.6		)	NA		(30.4		)	NA		(56.3		)	NA		(61.0		)
Consolidated total	$	4,741.5	$	437.4		$	4,593.6	$	486.3		$	9,449.1	$	919.2		$	9,030.8	$	949.4

¹Personal auto insurance accounted for 92% of the total Personal Lines segment net premiums earned in both the second quarter and first six months of 2014, compared to 91% for the same periods last year; insurance for our special lines products (e.g., motorcycles, ATVs, RVs, mobile homes, watercraft, and snowmobiles) accounted for the balance of the Personal Lines net premiums earned.

²Pretax profit (loss) for fees and other revenues are allocated to operating segments.

³Revenues represent recurring investment income and total net realized gains (losses) on securities; pretax profit is net of investment expenses.

NA = Not Applicable

Underwriting Margins and Combined Ratios for our Underwriting Operations

Following are the underwriting margins/combined ratios for our underwriting operations for the respective periods:



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	Under-writing Margin		Combined Ratio	Under-writing Margin		Combined Ratio	Under-writing Margin		Combined Ratio	Under-writing Margin		Combined Ratio
Personal Lines
Agency	6.4	%	93.6	6.1	%	93.9	7.2	%	92.8	7.2	%	92.8
Direct	6.3		93.7	7.5		92.5	5.2		94.8	7.6		92.4
Total Personal Lines	6.4		93.6	6.7		93.3	6.3		93.7	7.4		92.6
Commercial Lines	17.5		82.5	7.3		92.7	13.5		86.5	5.4		94.6
Other indemnity¹	NM		NM	NM		NM	NM		NM	NM		NM
Total underwriting operations	7.4		92.6	6.7		93.3	7.0		93.0	7.1		92.9

¹Underwriting margins and combined ratios are not meaningful (NM) for our other indemnity businesses due to the low level of premiums earned by, and the variability of loss costs in, such businesses.