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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Net premiums written $ 7,313 $ 7,104
Increase in unearned premiums (176) (77)
Net premiums earned 7,137 7,027
Net investment income 836 806
Net realized gains (losses):    
Other-than-temporary impairment (OTTI) losses gross (13) (1)
Portion of OTTI losses recognized in other comprehensive income (OCI) 0 0
Net OTTI losses recognized in income (13) (1)
Net realized gains (losses) excluding OTTI losses (84) (1)
Net Realized Gains Losses (97) (2)
Total revenues 7,876 7,831
Expenses    
Losses and loss expenses 4,098 4,102
Policy benefits 196 151
Policy acquisition costs 1,464 1,464
Administrative expenses 710 692
Interest expense 140 157
Other (income) expense (39) (47)
Amortization of purchased intangibles 76 85
Chubb integration expenses 3 10
Total expenses 6,648 6,614
Income before income tax 1,228 1,217
Income tax expense (benefit) (includes $(6) and $(3) on reclassified unrealized losses) 188 135
Net income 1,040 1,082
Other comprehensive income (loss)    
Unrealized appreciation (depreciation) 1,845 (1,234)
Reclassification adjustment for net realized (gains) losses included in net income 44 23
Unrealized appreciation (Depreciation) after reclassification adjustment 1,889 (1,211)
Change in:    
Cumulative foreign currency translation adjustment 147 397
Postretirement benefit liability adjustment (27) (23)
Other comprehensive income (loss), before income tax 2,009 (837)
Income tax (expense) benefit related to OCI items (331) 208
Other comprehensive income (loss) 1,678 (629)
Comprehensive income $ 2,718 $ 453
Earnings per share    
Basic earnings per share $ 2.27 $ 2.32
Diluted earnings per share $ 2.25 $ 2.30