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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Net premiums written $ 29,244 $ 28,145 $ 17,713
(Increase) decrease in unearned premiums (210) 604 (500)
Net premiums earned 29,034 28,749 17,213
Net investment income 3,125 2,865 2,194
Net realized gains (losses):      
Other-than-temporary impairment (OTTI) losses gross (46) (111) (151)
Portion of OTTI losses recognized in other comprehensive income (OCI) 1 8 39
Net OTTI losses recognized in income (45) (103) (112)
Net realized gains (losses) excluding OTTI losses 129 (42) (308)
Total Net realized gains (losses) including OTTI 84 (145) (420)
Total revenues 32,243 31,469 18,987
Expenses      
Losses and loss expenses 18,454 16,052 9,484
Policy benefits 676 588 543
Policy Acquisition Costs 5,781 5,904 2,941
Administrative expenses 2,833 3,081 2,270
Interest expense 607 605 300
Other (income) expense (400) (222) (51)
Amortization of Purchased Intangibles 260 19 171
Chubb integration expenses 310 492 33
Total expenses 28,521 26,519 15,691
Income before income tax 3,722 4,950 3,296
Income tax expense (139) 815 462
Net income 3,861 4,135 2,834
Other comprehensive income (loss)      
Unrealized appreciation (depreciation) 618 (35) (1,280)
Reclassification adjustment for net realized (gains) losses included in net income 15 119 151
Other comprehensive income (loss) after reclassification for net realized gains included in net income 633 84 (1,129)
Change in:      
Cumulative foreign currency translation adjustment 471 (154) (958)
Postretirement benefit liability adjustment (16) 545 15
Other comprehensive income (loss), before income tax 1,088 475 (2,072)
Income tax (expense) benefit related to OCI items (231) (54) 146
Other comprehensive income (loss) 857 421 (1,926)
Comprehensive income $ 4,718 $ 4,556 $ 908
Earnings per share      
Basic earnings per share $ 8.26 $ 8.94 $ 8.71
Diluted earnings per share $ 8.19 $ 8.87 $ 8.62