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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Net premiums written $ 10,510 $ 9,078 $ 28,718 $ 25,410
Increase in unearned premiums (510) (313) (1,684) (723)
Net premiums earned 10,000 8,765 27,034 24,687
Net investment income 866 840 2,613 2,528
Realized Investment Gains (Losses) (21) (141) 833 (1,069)
Total revenues 10,845 9,464 30,480 26,146
Expenses        
Losses and loss expenses 6,629 5,835 16,688 16,897
Policy benefits 151 198 503 550
Policy acquisition costs 1,778 1,645 5,141 4,853
Administrative expenses 806 733 2,325 2,201
Interest expense 122 130 366 390
Other (income) expense (763) (485) (2,030) (372)
Amortization of purchased intangibles 71 72 216 217
Total expenses 8,794 8,128 23,209 24,736
Income before income tax 2,051 1,336 7,271 1,410
Income tax expense (includes $(3), $7, $(5), and $(35) on unrealized gains and losses reclassified from AOCI) 218 142 873 295
Net income 1,833 1,194 6,398 1,115
Other comprehensive income (loss)        
Unrealized appreciation (depreciation) (564) 687 (2,151) 1,456
Reclassification adjustment for net realized (gains) losses included in net income 10 (49) (26) 303
Unrealized appreciation (Depreciation) after reclassification adjustment (554) 638 (2,177) 1,759
Change in:        
Cumulative foreign currency translation adjustment (414) 246 (84) (168)
Postretirement benefit liability adjustment 4 (23) (33) (59)
Other comprehensive income (loss), before income tax (964) 861 (2,294) 1,532
Income tax (expense) benefit related to OCI items 120 (103) 403 (295)
Other comprehensive income (loss) (844) 758 (1,891) 1,237
Comprehensive income $ 989 $ 1,952 $ 4,507 $ 2,352
Earnings per share        
Basic earnings per share $ 4.21 $ 2.64 $ 14.42 $ 2.47
Diluted earnings per share $ 4.18 $ 2.63 $ 14.33 $ 2.46