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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Net premiums written $ 37,868 $ 33,820 $ 32,275
Increase in unearned premiums (1,513) (703) (985)
Net premiums earned 36,355 33,117 31,290
Net investment income 3,456 3,375 3,426
Net realized gains (losses):      
Other-than-temporary impairment (OTTI) losses gross     (90)
Portion of OTTI losses recognized in other comprehensive income (OCI) 0   32
Net OTTI losses recognized in income     (58)
Net realized gains (losses) excluding OTTI losses 1,152 (498) (472)
Net realized gains (losses) (includes $3, $(281), and $(31) reclassified from AOCI) 1,152 (498) (530)
Total revenues 40,963 35,994 34,186
Expenses      
Losses and loss expenses 21,980 21,710 18,730
Policy benefits 699 784 740
Policy acquisition costs 6,918 6,547 6,153
Administrative expenses 3,136 2,979 3,030
Interest expense 492 516 552
Other (income) expense (2,365) (994) (596)
Amortization of purchased intangibles 287 290 305
Chubb integration expenses 0 0 23
Total expenses 31,147 31,832 28,937
Income before income tax 9,816 4,162 5,249
Income tax expense (includes benefit of $(6), $(36), and nil on unrealized gains and losses reclassified from AOCI) 1,277 629 795
Net income 8,539 3,533 4,454
Other comprehensive income (loss)      
Unrealized appreciation (depreciation) (2,935) 2,311 3,704
Reclassification adjustment for net realized (gains) losses included in net income (3) 281 31
Other comprehensive income (loss) after reclassification for net realized gains included in net income (2,938) 2,592 3,735
Change in:      
Cumulative foreign currency translation adjustment (530) 306 13
Postretirement benefit liability adjustment 522 (232) (76)
Other comprehensive income (loss), before income tax (2,946) 2,666 3,672
Income tax (expense) benefit related to OCI items 427 (416) (605)
Other comprehensive income (loss) (2,519) 2,250 3,067
Comprehensive income $ 6,020 $ 5,783 $ 7,521
Earnings per share      
Basic earnings per share $ 19.41 $ 7.82 $ 9.77
Diluted earnings per share $ 19.27 $ 7.79 $ 9.71