XML 54 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Net premiums written $ 4,709 $ 4,729 $ 13,569 $ 13,473
Decrease (increase) in unearned premiums 10 25 (563) (417)
Net premiums earned 4,719 4,754 13,006 13,056
Net investment income 549 566 1,662 1,675
Net realized gains (losses):        
Other-than-temporary impairment (OTTI) losses gross (35) (5) (62) (30)
Portion of OTTI losses recognized in other comprehensive income (OCI) 5 1 11 3
Net OTTI losses recognized in income (30) (4) (51) (27)
Net realized gains (losses) excluding OTTI losses (367) (116) (309) (270)
Total net realized gains (losses) (includes $(49), $(38), $(18), and $(11) reclassified from AOCI) (397) (120) (360) (297)
Total revenues 4,871 5,200 14,308 14,434
Expenses        
Losses and loss expenses 2,643 2,684 7,182 7,233
Policy benefits 89 125 384 383
Policy acquisition costs 771 825 2,205 2,311
Administrative expenses 568 554 1,700 1,655
Interest expense 68 70 207 213
Other (income) expense 12 (46) (61) (139)
Amortization of intangible assets 51 27 136 78
Chubb integration expenses 9 0 9 0
Total expenses 4,211 4,239 11,762 11,734
Income before income tax 660 961 2,546 2,700
Income tax expense (includes $(4), $5, $10, and $7 on reclassified unrealized gains and losses) 132 176 395 402
Net income 528 785 2,151 2,298
Other comprehensive income (loss)        
Unrealized appreciation (depreciation) (321) (375) (696) 733
Reclassification adjustment for net realized losses included in net income 49 38 18 11
Unrealized appreciation (Depreciation) after reclassification adjustment (272) (337) (678) 744
Change in:        
Cumulative translation adjustment (575) (251) (860) (131)
Pension liability 3 7 10 (6)
Other comprehensive income (loss), before income tax (844) (581) (1,528) 607
Income tax (expense) benefit related to OCI items 45 94 145 (151)
Other comprehensive income (loss) (799) (487) (1,383) 456
Comprehensive income (loss) $ (271) $ 298 $ 768 $ 2,754
Earnings per share        
Basic earnings per share $ 1.63 $ 2.35 $ 6.60 $ 6.82
Diluted earnings per share $ 1.62 $ 2.32 $ 6.53 $ 6.75
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member]        
Net realized gains (losses):        
Total net realized gains (losses) (includes $(49), $(38), $(18), and $(11) reclassified from AOCI) $ (49) $ (38) $ (18) $ (11)
Expenses        
Income tax expense (includes $(4), $5, $10, and $7 on reclassified unrealized gains and losses) $ (4) $ 5 $ 10 $ 7