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Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues    
Net premiums written $ 9,199 $ 8,662
Increase in unearned premiums (453) (441)
Net premiums earned 8,746 8,221
Net investment income 822 863
Net realized gains (losses) (includes $(136) and $24 reclassified from AOCI) 101 887
Total revenues 9,669 9,971
Expenses    
Losses and loss expenses 4,787 5,053
Policy benefits 145 167
Policy acquisition costs 1,737 1,665
Administrative expenses 778 744
Interest expense 132 122
Other (income) expense (310) (490)
Amortization of purchased intangibles 71 72
Total expenses 7,340 7,333
Income before income tax 2,329 2,638
Income tax expense (includes $(22) and $4 on unrealized gains and losses reclassified from AOCI) 355 338
Net income 1,974 2,300
Other comprehensive loss    
Unrealized depreciation (4,788) (2,293)
Reclassification adjustment for net realized (gains) losses included in net income 136 (24)
Unrealized appreciation (depreciation) after reclassification adjustment (4,652) (2,317)
Change in:    
Cumulative foreign currency translation adjustment 67 22
Postretirement benefit liability adjustment 19 (28)
Other comprehensive loss, before income tax (4,566) (2,323)
Income tax benefit related to OCI items 812 412
Other comprehensive loss (3,754) (1,911)
Comprehensive income (loss) $ (1,780) $ 389
Earnings per share    
Basic earnings per share $ 4.64 $ 5.10
Diluted earnings per share $ 4.59 $ 5.07