Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Company's revenues and income by segment [Table Text Block]


(For the three months ended June 30, in millions)	Business Insurance		Bond & Specialty Insurance		Personal Insurance		Total Reportable Segments
2024
Premiums	$	5,168	$	977	$	4,098	$	10,243
Net investment income	632		94		159		885
Fee income	105		—		10		115
Other revenues	77		6		22		105
Total segment revenues (1)	$	5,982	$	1,077	$	4,289	$	11,348
Segment income (loss) (1)	$	656	$	170	$	(153)	$	673

2023
Premiums	$	4,644	$	911	$	3,661	$	9,216
Net investment income	509		78		125		712
Fee income	98		—		8		106
Other revenues	67		7		25		99
Total segment revenues (1)	$	5,318	$	996	$	3,819	$	10,133
Segment income (loss) (1)	$	402	$	230	$	(538)	$	94

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(1)Segment revenues for reportable business segments exclude net realized investment gains (losses) and revenues included in “interest expense and other.” Segment income (loss) for reportable business segments excludes the after-tax impact of net realized investment gains (losses) and income (loss) from “interest expense and other.”


(For the six months ended June 30, in millions)	Business Insurance		Bond & Specialty Insurance		Personal Insurance		Total Reportable Segments
2024
Premiums	$	10,328	$	1,933	$	8,108	$	20,369
Net investment income	1,241		184		306		1,731
Fee income	206		—		18		224
Other revenues	154		15		48		217
Total segment revenues (1)	$	11,929	$	2,132	$	8,480	$	22,541
Segment income (1)	$	1,420	$	365	$	67	$	1,852

2023
Premiums	$	9,121	$	1,786	$	7,163	$	18,070
Net investment income	982		151		242		1,375
Fee income	197		—		15		212
Other revenues	114		12		48		174
Total segment revenues (1)	$	10,414	$	1,949	$	7,468	$	19,831
Segment income (loss) (1)	$	1,158	$	437	$	(455)	$	1,140

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Business segment reconciliations of revenue and income, net of tax [Table Text Block]

Business Segment Reconciliations


	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2024		2023		2024		2023
Revenue reconciliation
Earned premiums
Business Insurance:
Domestic:
Workers’ compensation	$	864	$	858	$	1,744	$	1,708
Commercial automobile	874		798		1,734		1,559
Commercial property	894		760		1,767		1,469
General liability	845		748		1,692		1,508
Commercial multi-peril	1,246		1,145		2,516		2,245
Other	13		16		30		34
Total Domestic	4,736		4,325		9,483		8,523
International	432		319		845		598
Total Business Insurance	5,168		4,644		10,328		9,121
Bond & Specialty Insurance:
Domestic:
Fidelity and surety	350		325		690		631
General liability	437		406		863		804
Other	58		57		114		111
Total Domestic	845		788		1,667		1,546
International	132		123		266		240
Total Bond & Specialty Insurance	977		911		1,933		1,786
Personal Insurance:
Domestic:
Automobile	1,919		1,688		3,793		3,312
Homeowners and Other	2,014		1,814		3,986		3,538
Total Domestic	3,933		3,502		7,779		6,850
International	165		159		329		313
Total Personal Insurance	4,098		3,661		8,108		7,163
Total earned premiums	10,243		9,216		20,369		18,070
Net investment income	885		712		1,731		1,375
Fee income	115		106		224		212
Other revenues	105		99		217		174
Total segment revenues	11,348		10,133		22,541		19,831

Net realized investment losses	(65)		(35)		(30)		(29)
Total revenues	$	11,283	$	10,098	$	22,511	$	19,802
Income reconciliation, net of tax
Total segment income	$	673	$	94	$	1,852	$	1,140
Interest Expense and Other (1)	(88)		(79)		(171)		(155)
Core income	585		15		1,681		985
Net realized investment losses	(51)		(29)		(24)		(24)

Net income (loss)	$	534	$	(14)	$	1,657	$	961

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(1)The primary component of Interest Expense and Other was after-tax interest expense of $78 million and $72 million for the three months ended June 30, 2024 and 2023, respectively, and $155 million and $142 million for the six months ended June 30, 2024 and 2023, respectively.

Asset reconciliation [Table Text Block]


(in millions)	June 30, 2024		December 31, 2023
Asset reconciliation
Business Insurance	$	95,686	$	93,565
Bond & Specialty Insurance	12,243		11,478
Personal Insurance	20,404		20,072
Total assets by reportable segment	128,333		125,115
Other assets (1)	982		863
Total consolidated assets	$	129,315	$	125,978

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(1)The primary components of other assets at both June 30, 2024 and December 31, 2023 were the over-funded benefit plan assets related to the Company’s qualified domestic pension plan and other intangible assets.