Cincinnati Financial (CINF) 10-Q 26 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 22, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	CINF
Entity Registrant Name	CINCINNATI FINANCIAL CORP
Entity Central Index Key	20,286
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		164,479,622

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Investments
Fixed maturities, at fair value (amortized cost: 2016—$9,442; 2015—$9,324)	$ 9,884	$ 9,650
Equity securities, at fair value (cost: 2016—$2,999; 2015—$2,938)	4,941	4,706
Other invested assets	64	67
Total investments	14,889	14,423
Cash and cash equivalents	613	544
Investment income receivable	121	129
Finance receivable	60	62
Premiums receivable	1,468	1,431
Reinsurance recoverable	532	542
Prepaid reinsurance premiums	50	54
Deferred policy acquisition costs	618	616
Land, building and equipment, net, for company use (accumulated depreciation: 2016—$465; 2015—$459)	188	185
Other assets	135	154
Separate accounts	773	748
Total assets	19,447	18,888
Insurance reserves
Loss and loss expense reserves	4,804	4,718
Life policy and investment contract reserves	2,601	2,583
Unearned premiums	2,248	2,201
Other liabilities	675	717
Deferred income tax	751	638
Note payable	35	35
Long-term debt and capital lease obligations	825	821
Separate accounts	773	748
Total liabilities	12,712	12,461
Commitments and contingent liabilities (Note 12)	0	0
Shareholders' Equity
Common stock, par value—$2 per share; (authorized: 2016 and 2015—500 million shares; issued: 2016 and 2015—198.3 million shares)	397	397
Paid-in capital	1,230	1,232
Retained earnings	4,871	4,762
Accumulated other comprehensive income	1,531	1,344
Treasury stock at cost (2016— 33.9 million shares and 2015—34.4 million shares)	(1,294)	(1,308)
Total shareholders' equity	6,735	6,427
Total liabilities and shareholders' equity	$ 19,447	$ 18,888

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Fixed maturities, amortized cost	$ 9,442	$ 9,324
Equity securities, cost	2,999	2,938
Land, building and equipment, accumulated depreciation	$ 465	$ 459
Common stock, par value	$ 2	$ 2
Common stock, authorized	500	500
Common stock, issued	198.3	198.3
Common stock, outstanding	198.3	198.3
Treasury stock, shares	33.9	34.4

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues [Abstract]
Earned premiums	$ 1,154	$ 1,094
Investment income, net of expenses	145	139
Realized investment gains, net	61	47
Fee revenues	3	3
Other revenues	1	2
Total revenues	1,364	1,285
Benefits and Expenses
Insurance losses and contract holders' benefits	724	749
Underwriting, acquisition and insurance expenses	360	345
Interest expense	13	13
Other operating expenses	2	4
Total benefits and expenses	1,099	1,111
Income Before Income Taxes	265	174
Provision for Income Taxes
Current	65	46
Deferred	12	0
Total provision for income taxes	77	46
Net Income	$ 188	$ 128
Per Common Share
Net income-basic (in USD per share)	$ 1.14	$ 0.78
Net income-diluted (in USD per share)	$ 1.13	$ 0.77

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Income	$ 188	$ 128
Change in unrealized gains on investments, net of tax of $100 and $(15), respectively	190	(28)
Amortization of pension actuarial loss and prior service cost, net of tax of $1 and $0, respectively	0	1
Change in life deferred acquisition costs, life policy reserves and other, net of tax of $(1) and $0, respectively	(3)	(1)
Other comprehensive income (loss), net of tax	187	(28)
Comprehensive Income	$ 375	$ 100

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax	$ 100	$ (15)
Other Comprehensive Income Loss, Pension And Other Postretirement Benefit Plans, Net Actuarial Loss And Prior Service Cost Arising During Period, Tax	1	0
Other Comprehensive Income, Change in Life Deferred Acquisition Costs, Life Policy Reserves and Other, Tax	$ (1)	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common equities	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Beginning Balance at Dec. 31, 2014		$ 397	$ 1,214	$ 4,505	$ 1,744	$ (1,287)
Share-based awards		0	(11)			19
Share-based compensation			6
Other			1			1
Net Income	$ 128			128
Dividends declared				(76)
Other comprehensive income	(28)				(28)
Shares acquired - share repurchase authorization						0
Shares acquired - share-based compensation plans						(5)
Ending Balance at Mar. 31, 2015	6,608	$ 397	1,210	4,557	1,716	(1,272)
Beginning Balance (in shares) at Dec. 31, 2014		163.7
Share-based awards (in shares)		0.6
Shares acquired - share repurchase authorization (in shares)		0
Shares acquired - share-based compensation plans (in shares)		0
Other (in shares)		0
Ending Balance (in shares) at Mar. 31, 2015		164.3
Beginning Balance at Dec. 31, 2015	6,427	$ 397	1,232	4,762	1,344	(1,308)
Share-based awards		0	(10)			18
Share-based compensation			7
Other			1			1
Net Income	188			188
Dividends declared				(79)
Other comprehensive income	187				187
Shares acquired - share repurchase authorization						0
Shares acquired - share-based compensation plans						(5)
Ending Balance at Mar. 31, 2016	$ 6,735	$ 397	$ 1,230	$ 4,871	$ 1,531	$ (1,294)
Beginning Balance (in shares) at Dec. 31, 2015	198.3	163.9
Share-based awards (in shares)		0.5
Shares acquired - share repurchase authorization (in shares)		0
Shares acquired - share-based compensation plans (in shares)		0
Other (in shares)		0
Ending Balance (in shares) at Mar. 31, 2016	198.3	164.4

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows From Operating Activities
Net Income	$ 188	$ 128
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12	14
Realized investment gains, net	(61)	(47)
Stock-based compensation	7	7
Interest credited to contract holders'	13	12
Deferred income tax expense	12	0
Changes in:
Investment income receivable	8	0
Premiums and reinsurance receivable	(23)	(22)
Deferred policy acquisition costs	(9)	2
Other assets	(12)	4
Loss and loss expense reserves	86	138
Life policy reserves	22	20
Unearned premiums	47	27
Other liabilities	(98)	(100)
Current income tax receivable/payable	65	32
Net cash provided by operating activities	257	215
Cash Flows From Investing Activities
Sale of fixed maturities	14	13
Call or maturity of fixed maturities	368	267
Sale of equity securities	132	67
Purchase of fixed maturities	(496)	(348)
Purchase of equity securities	(129)	(67)
Purchase of short-term investments	0	(25)
Investment in finance receivables	(6)	(3)
Collection of finance receivables	8	8
Investment in buildings and equipment, net	(3)	(1)
Change in other invested assets, net	4	1
Net cash used in investing activities	(108)	(88)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders	(74)	(71)
Proceeds from stock options exercised	9	7
Contract holders' funds deposited	26	20
Contract holders' funds withdrawn	(39)	(33)
Excess tax benefits on stock-based compensation	2	3
Other	(4)	(4)
Net cash used in financing activities	(80)	(78)
Net change in cash and cash equivalents	69	49
Cash and cash equivalents at beginning of year	544	591
Cash and cash equivalents at end of period	613	640
Supplemental Disclosures of Cash Flow Information:
Income taxes (refunded) paid	(1)	11
Noncash Activities
Conversion of securities	3	0
Equipment acquired under capital lease obligations	9	3
Cashless exercise of stock options	$ 5	$ 5

Accounting Policies

Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Accounting Policies	NOTE 1 — Accounting Policies The condensed consolidated financial statements include the accounts of Cincinnati Financial Corporation and its consolidated subsidiaries, each of which is wholly owned. These statements are presented in conformity with accounting principles generally accepted in the United States of America (GAAP). All intercompany balances and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Our actual results could differ from those estimates. Our December 31, 2015 , condensed consolidated balance sheet amounts are derived from the audited financial statements but do not include all disclosures required by GAAP. Our March 31, 2016 , condensed consolidated financial statements are unaudited. Certain financial information that is included in annual financial statements prepared in accordance with GAAP is not required for interim reporting and has been condensed or omitted. We believe that we have made all adjustments, consisting only of normal recurring accruals, that are necessary for fair presentation. These condensed consolidated financial statements should be read in conjunction with our consolidated financial statements included in our 2015 Annual Report on Form 10-K. The results of operations for interim periods do not necessarily indicate results to be expected for the full year. Adopted Accounting Updates ASU 2014-12, Compensation-Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-12, Compensation-Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 requires that performance targets that affect vesting and that could be achieved after the requisite service period be treated as performance conditions. The effective date of ASU 2014-12 was for interim and annual reporting periods beginning after December 15, 2015. The company adopted this ASU and it did not have a material impact on our company’s financial position, cash flows or results of operations. ASU 2015-02, Consolidation-Amendments to the Consolidation Analysis In February 2015, the FASB issued ASU 2015-02, Consolidation-Amendments to the Consolidation Analysis. ASU 2015-02 makes amendments to the current consolidation guidance, focusing mainly on the investment management industry; however, entities across all industries may be impacted. The effective date of ASU 2015-02 was for interim and annual reporting periods beginning after December 15, 2015. The company adopted this ASU and it did not have a material impact on our company’s financial position, cash flows or results of operations. Pending Accounting Updates ASU 2014-09 Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . ASU 2014-09 requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. Insurance contracts do not fall within the scope of this ASU. The effective date of ASU 2014-09 is for annual reporting periods beginning after December 15, 2017. The ASU has not yet been adopted and will not have a material impact on our company’s financial position, cash flows or results of operations. ASU 2015-09, Financial Services-Insurance: Disclosures about Short-Duration Contracts In May 2015, the FASB issued ASU 2015-09, Financial Services-Insurance: Disclosures About Short-Duration Contracts. ASU 2015-09 requires entities to provide additional disclosures about the liability for loss and loss expense reserves to increase the transparency of significant estimates. ASU 2015-09 also requires entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for loss and loss expense reserves, including reasons for the change and the effects on the financial statements. ASU 2015-09 also requires entities to disclose a rollforward of the liability of loss and loss expense reserves for annual and interim reporting periods. The effective date of ASU 2015-09 is for annual reporting periods beginning after December 15, 2015, and interim reporting periods within annual period beginning after December 15, 2016. The ASU has not yet been adopted and will not have a material impact on our company’s financial position, cash flows or results of operations, but the ASU will require additional disclosures to our annual and interim reporting periods. ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 revises the accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The effective date of ASU 2016-01 is for interim and annual reporting periods beginning after December 15, 2017. The ASU has not yet been adopted. Management is currently evaluating the impact on our company’s consolidated financial position, cash flows and results of operations. ASU 2016-02, Leases (Topic 842) In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The main provision of ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The effective date of ASU 2016-02 is for interim and annual reporting periods beginning after December 15, 2018. The ASU has not yet been adopted. Management is currently evaluating the impact on our company’s consolidated financial position, cash flows and results of operations. ASU 2016-07, Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued ASU 2016-07, Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting. ASU 2016-07 eliminates the requirement to retroactively adjust an investment, results of operations, and retained earnings once an investment qualifies for use of the equity method. It requires the equity method investor to add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting without retroactive adjustment. The effective date of ASU 2016-07 is for interim and annual reporting periods beginning after December 15, 2016. The ASU has not yet been adopted; however, it is not expected to have a material impact on our company's consolidated financial position, cash flows or results of operations. ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies and improves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The effective date of ASU 2016-09 is for interim and annual reporting periods beginning after December 15, 2016. The ASU has not yet been adopted; however, it is not expected to have a material impact on our company's consolidated financial position, cash flows or results of operations.

Investments

Investments	3 Months Ended
	Mar. 31, 2016
Investments [Abstract]
Investments	Investments The following table provides cost or amortized cost, gross unrealized gains, gross unrealized losses and fair value for our investment portfolio: (Dollars in millions) Cost or amortized cost Gross unrealized Fair value At March 31, 2016 gains losses Fixed maturity securities: Corporate $ 5,395 $ 295 $ 66 $ 5,624 States, municipalities and political subdivisions 3,499 204 — 3,703 Commercial mortgage-backed 289 11 2 298 Government-sponsored enterprises 240 — — 240 Foreign government 10 — — 10 Convertibles and bonds with warrants attached 5 — — 5 United States government 4 — — 4 Subtotal 9,442 510 68 9,884 Equity securities: Common equities 2,810 1,954 44 4,720 Nonredeemable preferred equities 189 33 1 221 Subtotal 2,999 1,987 45 4,941 Total $ 12,441 $ 2,497 $ 113 $ 14,825 At December 31, 2015 Fixed maturity securities: Corporate $ 5,294 $ 255 $ 96 $ 5,453 States, municipalities and political subdivisions 3,440 172 1 3,611 Commercial mortgage-backed 287 4 2 289 Government-sponsored enterprises 284 — 6 278 Foreign government 10 — — 10 Convertibles and bonds with warrants attached 5 — — 5 United States government 4 — — 4 Subtotal 9,324 431 105 9,650 Equity securities: Common equities 2,749 1,787 51 4,485 Nonredeemable preferred equities 189 32 — 221 Subtotal 2,938 1,819 51 4,706 Total $ 12,262 $ 2,250 $ 156 $ 14,356 The net unrealized investment gains in our fixed-maturity portfolio are primarily the result of the continued low interest rate environment that increased the fair value of our fixed-maturity portfolio. Our commercial mortgage-backed securities had an average rating of Aa1/AA at March 31, 2016 , and December 31, 2015 . The seven largest unrealized investment gains in our common stock portfolio are from Honeywell International Incorporated (NYSE:HON), Exxon Mobil Corporation (NYSE:XOM), The Procter & Gamble Company (NYSE:PG), BlackRock Inc. (NYSE:BLK), Johnson and Johnson (NYSE:JNJ), Hasbro Incorporated (Nasdaq:HAS), and Microsoft Corporation (Nasdaq:MSFT), which had a combined gross unrealized gain of $597 million . At March 31, 2016 , Apple was our largest single common stock holding with a fair value of $153 million , which was 3.2 percent of our publicly traded common stock portfolio and 1.0 percent of the total investment portfolio. The table below provides fair values and gross unrealized losses by investment category and by the duration of the securities’ continuous unrealized loss positions: (Dollars in millions) Less than 12 months 12 months or more Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses At March 31, 2016 Fixed maturity securities: Corporate $ 801 $ 43 $ 153 $ 23 $ 954 $ 66 States, municipalities and political subdivisions 28 — 4 — 32 — Commercial mortgage-backed 49 1 2 1 51 2 Government-sponsored enterprises 29 — 19 — 48 — Subtotal 907 44 178 24 1,085 68 Equity securities: Common equities 345 44 — — 345 44 Nonredeemable preferred equities 42 1 — — 42 1 Subtotal 387 45 — — 387 45 Total $ 1,294 $ 89 $ 178 $ 24 $ 1,472 $ 113 At December 31, 2015 Fixed maturity securities: Corporate $ 1,099 $ 63 $ 133 $ 33 $ 1,232 $ 96 States, municipalities and political subdivisions 47 1 22 — 69 1 Commercial mortgage-backed 103 2 2 — 105 2 Government-sponsored enterprises 100 2 127 4 227 6 Subtotal 1,349 68 284 37 1,633 105 Equity securities: Common equities 270 51 — — 270 51 Nonredeemable preferred equities 35 — — — 35 — Subtotal 305 51 — — 305 51 Total $ 1,654 $ 119 $ 284 $ 37 $ 1,938 $ 156 Contractual maturity dates for fixed-maturity investments were: (Dollars in millions) Amortized cost Fair value % of fair value At March 31, 2016 Maturity dates: Due in one year or less $ 481 $ 488 4.9 % Due after one year through five years 3,017 3,202 32.4 Due after five years through ten years 3,676 3,797 38.4 Due after ten years 2,268 2,397 24.3 Total $ 9,442 $ 9,884 100.0 % Actual maturities may differ from contractual maturities when there is a right to call or prepay obligations with or without call or prepayment penalties. The following table provides investment income, realized investment gains and losses, the change in unrealized investment gains and losses, and other items: (Dollars in millions) Three months ended March 31, 2016 2015 Investment income: Interest $ 109 $ 105 Dividends 37 36 Other 1 — Total 147 141 Less investment expenses 2 2 Total $ 145 $ 139 Realized investment gains and losses summary: Fixed maturities: Gross realized gains $ 3 $ 3 Gross realized losses (1 ) — Other-than-temporary impairments (2 ) — Equity securities: Gross realized gains 62 44 Gross realized losses (1 ) (1 ) Other-than-temporary impairments — — Other — 1 Total $ 61 $ 47 Change in unrealized investment gains and losses: Fixed maturities $ 116 $ 46 Equity securities 174 (89 ) Less income taxes (100 ) 15 Total $ 190 $ (28 ) During the three months ended March 31, 2016 , there were no equity securities and two fixed-maturity securities other-than-temporarily impaired. There were no credit losses on fixed-maturity securities for which a portion of other-than-temporary impairment (OTTI) has been recognized in other comprehensive income for the three months ended March 31, 2016 and 2015 . At March 31, 2016 , 44 fixed-maturity investments with a total unrealized loss of $24 million had been in an unrealized loss position for 12 months or more. Of that total, two fixed-maturity investments had fair values below 70 percent of amortized cost. There were no equity investments in an unrealized loss position for 12 months or more as of March 31, 2016 . During 2015 , we other-than-temporarily impaired 20 securities. At December 31, 2015 , 69 fixed-maturity investments with a total unrealized loss of $37 million had been in an unrealized loss position for 12 months or more. Of that total, five fixed-maturity investments had fair values below 70 percent of amortized cost. There were no equity security investments in an unrealized loss position for 12 months or more as of December 31, 2015 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements In accordance with accounting guidance for fair value measurements and disclosures, we categorized our financial instruments, based on the priority of the observable and market-based data for the valuation technique used, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices with readily available independent data in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable market inputs (Level 3). When various inputs for measurement fall within different levels of the fair value hierarchy, the lowest observable input that has a significant impact on fair value measurement is used. Our valuation techniques have not changed from those used at December 31, 2015 , and ultimately management determines fair value. See our 2015 Annual Report on Form 10-K, Item 8, Note 3, Fair Value Measurements, Page 133, for information on characteristics and valuation techniques used in determining fair value. Fair Value Disclosures for Assets The following tables illustrate the fair value hierarchy for those assets measured at fair value on a recurring basis at March 31, 2016 , and December 31, 2015 . We do not have any material liabilities carried at fair value. There were no transfers between Level 1 and Level 2. (Dollars in millions) Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total At March 31, 2016 Fixed maturities, available for sale: Corporate $ — $ 5,573 $ 51 $ 5,624 States, municipalities and political subdivisions — 3,703 — 3,703 Commercial mortgage-backed — 298 — 298 Government-sponsored enterprises — 240 — 240 Foreign government — 10 — 10 Convertibles and bonds with warrants attached — 5 — 5 United States government 4 — — 4 Subtotal 4 9,829 51 9,884 Common equities, available for sale 4,720 — — 4,720 Nonredeemable preferred equities, available for sale — 219 2 221 Separate accounts taxable fixed maturities — 755 1 756 Top Hat savings plan mutual funds and common equity (included in Other assets) 22 — — 22 Total $ 4,746 $ 10,803 $ 54 $ 15,603 At December 31, 2015 Fixed maturities, available for sale: Corporate $ — $ 5,402 $ 51 $ 5,453 States, municipalities and political subdivisions — 3,611 — 3,611 Commercial mortgage-backed — 289 — 289 Government-sponsored enterprises — 278 — 278 Foreign government — 10 — 10 Convertibles and bonds with warrants attached — 5 — 5 United States government 4 — — 4 Subtotal 4 9,595 51 9,650 Common equities, available for sale 4,485 — — 4,485 Nonredeemable preferred equities, available for sale — 218 3 221 Separate accounts taxable fixed maturities — 736 1 737 Top Hat savings plan mutual funds and common equity (included in Other assets) 21 — — 21 Total $ 4,510 $ 10,549 $ 55 $ 15,114 Each financial instrument that was deemed to have significant unobservable inputs when determining valuation is identified in the following tables by security type with a summary of changes in fair value as of March 31, 2016 . Total Level 3 assets continue to be less than 1 percent of financial assets measured at fair value in the condensed consolidated balance sheets. Assets presented in the table below were valued based primarily on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of these unobservable inputs is neither provided nor reasonably available to us. The following table provides the change in Level 3 assets for the three months ended March 31 : (Dollars in millions) Asset fair value measurements using significant unobservable inputs (Level 3) Corporate fixed maturities Separate accounts taxable fixed maturities States, municipalities and political subdivisions fixed maturities Nonredeemable preferred equities Total Beginning balance, January 1, 2016 $ 51 $ 1 $ — $ 3 $ 55 Total gains or losses (realized/unrealized): Included in net income — — — — — Included in other comprehensive income — — — (1 ) (1 ) Purchases 5 — — — 5 Sales — — — — — Transfers into Level 3 — — — — — Transfers out of Level 3 (5 ) — — — (5 ) Ending balance, March 31, 2016 $ 51 $ 1 $ — $ 2 $ 54 Beginning balance, January 1, 2015 $ 18 $ — $ — $ 2 $ 20 Total gains or losses (realized/unrealized): Included in net income — — — — — Included in other comprehensive income — — — — — Purchases — — — — — Sales — — — — — Transfers into Level 3 — — 1 — 1 Transfers out of Level 3 — — — — — Ending balance, March 31, 2015 $ 18 $ — $ 1 $ 2 $ 21 Additional disclosures for the Level 3 category are not material. Fair Value Disclosures for Assets and Liabilities Not Carried at Fair Value The disclosures below are presented to provide timely information about the effects of current market conditions on financial instruments that are not reported at fair value in our condensed consolidated financial statements. This table summarizes the book value and principal amounts of our long-term debt: (Dollars in millions) Book value Principal amount March 31, December 31, March 31, December 31, Interest rate Year of issue 2016 2015 2016 2015 6.900 % 1998 Senior debentures, due 2028 $ 26 $ 26 $ 28 $ 28 6.920 % 2005 Senior debentures, due 2028 391 391 391 391 6.125 % 2004 Senior notes, due 2034 369 369 374 374 Total $ 786 $ 786 $ 793 $ 793 The following table shows fair values of our note payable and long-term debt: (Dollars in millions) Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total At March 31, 2016 Note payable $ — $ 35 $ — $ 35 6.900% senior debentures, due 2028 — 33 — 33 6.920% senior debentures, due 2028 — 492 — 492 6.125% senior notes, due 2034 — 437 — 437 Total $ — $ 997 $ — $ 997 At December 31, 2015 Note payable $ — $ 35 $ — $ 35 6.900% senior debentures, due 2028 — 31 — 31 6.920% senior debentures, due 2028 — 480 — 480 6.125% senior notes, due 2034 — 425 — 425 Total $ — $ 971 $ — $ 971 The following table shows the fair value of our life policy loans included in other invested assets: (Dollars in millions) Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total At March 31, 2016 Life policy loans $ — $ — $ 42 $ 42 At December 31, 2015 Life policy loans $ — $ — $ 40 $ 40 Outstanding principal and interest for these life policy loans totaled $30 million and $31 million at March 31, 2016 , and December 31, 2015 , respectively. The following table shows fair values of our deferred annuities and structured settlements included in life policy and investment contract reserves: (Dollars in millions) Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total At March 31, 2016 Deferred annuities $ — $ — $ 917 $ 917 Structured settlements — 212 — 212 Total $ — $ 212 $ 917 $ 1,129 At December 31, 2015 Deferred annuities $ — $ — $ 886 $ 886 Structured settlements — 208 — 208 Total $ — $ 208 $ 886 $ 1,094 Recorded reserves for the deferred annuities were $860 million at March 31, 2016 and December 31, 2015. Recorded reserves for the structured settlements were $175 million and $174 million at March 31, 2016 , and December 31, 2015 , respectively.

Property Casualty Loss and Loss

Property Casualty Loss and Loss Expenses	3 Months Ended
	Mar. 31, 2016
Premiums Written, Net [Abstract]
Property Casualty Loss And Loss Expenses	Property Casualty Loss and Loss Expenses This table summarizes activity for our consolidated property casualty loss and loss expense reserves: (Dollars in millions) Three months ended March 31, 2016 2015 Gross loss and loss expense reserves, beginning of period $ 4,660 $ 4,438 Less reinsurance recoverable 281 282 Net loss and loss expense reserves, beginning of period 4,379 4,156 Net incurred loss and loss expenses related to: Current accident year 723 711 Prior accident years (62 ) (22 ) Total incurred 661 689 Net paid loss and loss expenses related to: Current accident year 146 147 Prior accident years 416 399 Total paid 562 546 Net loss and loss expense reserves, end of period 4,478 4,299 Plus reinsurance recoverable 272 278 Gross loss and loss expense reserves, end of period $ 4,750 $ 4,577 We use actuarial methods, models and judgment to estimate, as of a financial statement date, the property casualty loss and loss expense reserves required to pay for and settle all outstanding insured claims, including incurred but not reported (IBNR) claims, as of that date. The actuarial estimate is subject to review and adjustment by an inter-departmental committee that includes actuarial management that is familiar with relevant company and industry business, claims and underwriting trends, as well as general economic and legal trends that could affect future loss and loss expense payments. The amount we will actually have to pay for claims can be highly uncertain. This uncertainty, together with the size of our reserves, makes the loss and loss expense reserves our most significant estimate. The reserve for loss and loss expenses in the condensed consolidated balance sheets also included $54 million at March 31, 2016 , and $46 million at March 31, 2015 , for certain life and health loss and loss expense reserves. For the three months ended March 31, 2016 , we experienced $62 million of favorable development on prior accident years, including $29 million of favorable development in commercial lines, $18 million of favorable development in personal lines, $14 million of favorable development in excess and surplus lines, and $1 million of favorable development in our reinsurance assumed operations. This included $7 million from favorable development of catastrophe losses for the three months ended March 31, 2016 . We recognized favorable reserve development during the three months ended March 31, 2016 , of $13 million for the workers' compensation line, $8 million for the commercial property line, $13 million for the other commercial lines and $8 million for the homeowner line due to reduced uncertainty of prior accident year loss and loss adjustment expense for these lines. Our commercial auto line developed unfavorably by $8 million for the three months ended March 31, 2016 , due to higher loss cost effects in recent accident years, resulting in an increase of our reserve estimate for claims that have not yet been settled. For the three months ended March 31, 2015 , we experienced $22 million of favorable development on prior accident years, including $14 million of favorable development in commercial lines, $3 million of favorable development in personal lines and $5 million of favorable development in excess and surplus lines. This included $11 million from favorable development of catastrophe losses for the three months ended March 31, 2015 . We recognized favorable development during the three months ended March 31, 2015 , of $15 million for the workers' compensation line, $11 million for the commercial property line and $7 million for the homeowner line due to reduced uncertainty of prior accident year loss and loss adjustment expenses for these lines. Our commercial auto line developed unfavorably by $11 million for the three months ended March 31, 2015, due to higher loss cost effects in recent accident years, resulting in an increase of our reserve estimate for claims that have not yet been settled.

Life Policy and Investment Cont

Life Policy and Investment Contract Reserves	3 Months Ended
	Mar. 31, 2016
Liability for Future Policy Benefits [Abstract]
Life Policy And Investment Contract Reserves	Life Policy and Investment Contract Reserves We establish the reserves for traditional life insurance policies based on expected expenses, mortality, morbidity, withdrawal rates, timing of claim presentation and investment yields, including a provision for uncertainty. Once these assumptions are established, they generally are maintained throughout the lives of the contracts. We use both our own experience and industry experience, adjusted for historical trends, in arriving at our assumptions for expected mortality, morbidity and withdrawal rates as well as for expected expenses. We base our assumptions for expected investment income on our own experience adjusted for current economic conditions. We establish reserves for the company’s universal life, deferred annuity and structured settlement policies equal to the cumulative account balances, which include premium deposits plus credited interest less charges and withdrawals. Some of our universal life policies contain no-lapse guarantee provisions. For these policies, we establish a reserve in addition to the account balance, based on expected no-lapse guarantee benefits and expected policy assessments. This table summarizes our life policy and investment contract reserves: (Dollars in millions) March 31, December 31, 2015 Ordinary/traditional life $ 956 $ 943 Deferred annuities 860 860 Universal life 561 558 Structured settlements 175 174 Other 49 48 Total life policy and investment contract reserves $ 2,601 $ 2,583

Deferred Acquisition Costs

Deferred Acquisition Costs	3 Months Ended
	Mar. 31, 2016
Deferred Costs [Abstract]
Deferred Acquisition Costs	Deferred Policy Acquisition Costs Expenses directly related to successfully acquired insurance policies – primarily commissions, premium taxes and underwriting costs – are deferred and amortized over the terms of the policies. We update our acquisition cost assumptions periodically to reflect actual experience, and we evaluate the costs for recoverability. The table below shows the deferred policy acquisition costs and asset reconciliation. (Dollars in millions) Three months ended March 31, 2016 2015 Property casualty: Deferred policy acquisition costs asset, beginning of period $ 388 $ 379 Capitalized deferred policy acquisition costs 210 196 Amortized deferred policy acquisition costs (201 ) (198 ) Deferred policy acquisition costs asset, end of period $ 397 $ 377 Life: Deferred policy acquisition costs asset, beginning of period $ 228 $ 199 Capitalized deferred policy acquisition costs 12 11 Amortized deferred policy acquisition costs (11 ) (11 ) Amortized shadow deferred policy acquisition costs (8 ) (5 ) Deferred policy acquisition costs asset, end of period $ 221 $ 194 Consolidated: Deferred policy acquisition costs asset, beginning of period $ 616 $ 578 Capitalized deferred policy acquisition costs 222 207 Amortized deferred policy acquisition costs (212 ) (209 ) Amortized shadow deferred policy acquisition costs (8 ) (5 ) Deferred policy acquisition costs asset, end of period $ 618 $ 571 No premium deficiencies were recorded in the condensed consolidated statements of income, as the sum of the anticipated loss and loss adjustment expenses, policyholder dividends and unamortized deferred acquisition expenses did not exceed the related unearned premiums and anticipated investment income.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income [Abstract]
Comprehensive Income (Loss) Note	Accumulated Other Comprehensive Income Accumulated other comprehensive income (AOCI) includes changes in unrealized gains and losses on investments, changes in pension obligations and changes in life deferred acquisition costs, life policy reserves and other as follows: (Dollars in millions) Three months ended March 31, 2016 2015 Before tax Income tax Net Before tax Income tax Net Investments: AOCI, beginning of period $ 2,094 $ 722 $ 1,372 $ 2,719 $ 942 $ 1,777 OCI excluding realized gains recognized in net income 351 121 230 3 1 2 Realized gains recognized in net income (61 ) (21 ) (40 ) (46 ) (16 ) (30 ) OCI 290 100 190 (43 ) (15 ) (28 ) AOCI, end of period $ 2,384 $ 822 $ 1,562 $ 2,676 $ 927 $ 1,749 Pension obligations: AOCI, beginning of period $ (42 ) $ (14 ) $ (28 ) $ (36 ) $ (12 ) $ (24 ) OCI excluding amortization recognized in net income — — — — — — Amortization recognized in net income 1 1 — 1 — 1 OCI 1 1 — 1 — 1 AOCI, end of period $ (41 ) $ (13 ) $ (28 ) $ (35 ) $ (12 ) $ (23 ) Life deferred acquisition costs, life policy reserves and other: AOCI, beginning of period $ 1 $ 1 $ — $ (12 ) $ (3 ) $ (9 ) OCI excluding realized gains recognized in net income (4 ) (1 ) (3 ) (1 ) (1 ) — Realized gains recognized in net income — — — (1 ) — (1 ) OCI (4 ) (1 ) (3 ) (2 ) (1 ) (1 ) AOCI, end of period $ (3 ) $ — $ (3 ) $ (14 ) $ (4 ) $ (10 ) Summary of AOCI: AOCI, beginning of period $ 2,053 $ 709 $ 1,344 $ 2,671 $ 927 $ 1,744 Investments OCI 290 100 190 (43 ) (15 ) (28 ) Pension obligations OCI 1 1 — 1 — 1 Life deferred acquisition costs, life policy reserves and other OCI (4 ) (1 ) (3 ) (2 ) (1 ) (1 ) Total OCI 287 100 187 (44 ) (16 ) (28 ) AOCI, end of period $ 2,340 $ 809 $ 1,531 $ 2,627 $ 911 $ 1,716 Investments realized gains and life deferred acquisition costs, life policy reserves and other realized gains are recorded in the realized investment gains, net, line item in the condensed consolidated statements of income. Amortization on pension obligations is recorded in the insurance losses and contract holders' benefits and underwriting, acquisition and insurance expenses in the condensed consolidated statements of income.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2016
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance Primary components of our property casualty operations assumed reinsurance include involuntary and voluntary assumed as well as contracts from our reinsurance assumed operations, known as Cincinnati Re SM . Primary components of our ceded reinsurance include a property per risk treaty, property excess treaty, casualty per occurrence treaty, casualty excess treaty, property catastrophe treaty and catastrophe bonds and retrocessions on our reinsurance assumed operations. Management's decisions about the appropriate level of risk retention are affected by various factors, including changes in our underwriting practices, capacity to retain risks and reinsurance market conditions. Our condensed consolidated statements of income include earned consolidated property casualty insurance premiums on assumed and ceded business: (Dollars in millions) Three months ended March 31, 2016 2015 Direct earned premiums $ 1,119 $ 1,076 Assumed earned premiums 15 2 Ceded earned premiums (38 ) (37 ) Earned premiums $ 1,096 $ 1,041 Our condensed consolidated statements of income include incurred consolidated property casualty insurance loss and loss expenses on assumed and ceded business: (Dollars in millions) Three months ended March 31, 2016 2015 Direct incurred loss and loss expenses $ 648 $ 691 Assumed incurred loss and loss expenses 10 (1 ) Ceded incurred loss and loss expenses 3 (1 ) Incurred loss and loss expenses $ 661 $ 689 Our ceded incurred results generally vary with our catastrophe experience. Our life insurance company purchases reinsurance for protection of a portion of the risk that is written. Primary components of our life reinsurance program include individual mortality coverage and aggregate catastrophe and accidental death coverage in excess of certain deductibles. Our condensed consolidated statements of income include earned life insurance premiums on ceded business: (Dollars in millions) Three months ended March 31, 2016 2015 Direct earned premiums $ 71 $ 65 Ceded earned premiums (13 ) (12 ) Earned premiums $ 58 $ 53 Our condensed consolidated statements of income include life insurance contract holders' benefits incurred on ceded business: (Dollars in millions) Three months ended March 31, 2016 2015 Direct contract holders' benefits incurred $ 76 $ 72 Ceded contract holders' benefits incurred (13 ) (12 ) Contract holders' benefits incurred $ 63 $ 60 The ceded benefits incurred can vary depending on the type of life insurance policy held and the year the policy was sold.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes As of March 31, 2016 , and December 31, 2015 , we had no liability for unrecognized tax benefits. The differences between the 35 percent statutory federal income tax rate and our effective income tax rate were as follows: (Dollars in millions) Three months ended March 31, 2016 2015 Tax at statutory rate: $ 93 35.0 % $ 61 35.0 % Increase (decrease) resulting from: Tax-exempt income from municipal bonds (9 ) (3.4 ) (8 ) (4.6 ) Dividend received exclusion (8 ) (3.0 ) (8 ) (4.6 ) Other 1 0.5 1 0.6 Provision for income taxes $ 77 29.1 % $ 46 26.4 % The provision for federal income taxes is based upon filing a consolidated income tax return for the company and its subsidiaries. As of March 31, 2016, we had no operating or capital loss carry forwards.

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Income Per Common Share	Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share are computed based on the weighted average number of common and dilutive potential common shares outstanding using the treasury stock method. The table shows calculations for basic and diluted earnings per share: (In millions except per share data) Three months ended March 31, 2016 2015 Numerator: Net income—basic and diluted $ 188 $ 128 Denominator: Basic weighted-average common shares outstanding 164.2 164.0 Effect of share-based awards: Stock options 1.0 1.0 Nonvested shares 0.8 0.6 Diluted weighted-average shares 166.0 165.6 Earnings per share: Basic $ 1.14 $ 0.78 Diluted 1.13 0.77 Number of anti-dilutive share-based awards: 0.4 0.7 The sources of dilution of our common shares are certain equity-based awards. See our 2015 Annual Report on Form 10-K, Item 8, Note 17, Share-Based Associate Compensation Plans, Page 152, for information about equity-based awards. The above table shows the number of anti-dilutive share-based awards for the three months ended March 31, 2016 and 2015. We did not include these share-based awards in the computation of net income per common share (diluted) because their exercise would have anti-dilutive effects.

Employee Retirement Benefits

Employee Retirement Benefits	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Retirement Benefits	Employee Retirement Benefits The following summarizes the components of net periodic benefit cost for our qualified and supplemental pension plans: (Dollars in millions) Three months ended March 31, 2016 2015 Service cost $ 3 $ 3 Interest cost 3 3 Expected return on plan assets (5 ) (4 ) Amortization of actuarial loss and prior service cost 1 1 Net periodic benefit cost $ 2 $ 3 See our 2015 Annual Report on Form 10-K, Item 8, Note 13, Employee Retirement Benefits, Page 146, for information on our retirement benefits. We made matching contributions totaling $4 million to our 401(k) and Top Hat savings plans during both the first quarters of 2016 and 2015. We contributed $5 million to our qualified pension plan during the first quarter of 2016. We do not anticipate further contributions to our qualified pension plan during the remainder of 2016.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingent Liabilities	Commitments and Contingent Liabilities In the ordinary course of conducting business, the company and its subsidiaries are named as defendants in various legal proceedings. Most of these proceedings are claims litigation involving the company ' s insurance subsidiaries in which the company is either defending or providing indemnity for third-party claims brought against insureds or litigating first-party coverage claims. The company accounts for such activity through the establishment of unpaid loss and loss expense reserves. We believe that the ultimate liability, if any, with respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses and costs of defense, is immaterial to our consolidated financial condition, results of operations and cash flows. The company and its subsidiaries also are occasionally involved in other legal and regulatory proceedings, some of which assert claims for substantial amounts. These actions include, among others, putative class actions seeking certification of a state or national class. Such proceedings have alleged, for example, breach of an alleged duty to search national databases to ascertain unreported deaths of insureds under life insurance policies. The company ' s insurance subsidiaries also are occasionally parties to individual actions in which extra-contractual damages, punitive damages or penalties are sought, such as claims alleging bad faith handling of insurance claims or writing unauthorized coverage or claims alleging discrimination by former or current associates. On a quarterly basis, we review these outstanding matters. Under current accounting guidance, we establish accruals when it is probable that a loss has been incurred and we can reasonably estimate its potential exposure. The company accounts for such probable and estimable losses, if any, through the establishment of legal expense reserves. Based on our quarterly review, we believe that our accruals for probable and estimable losses are reasonable and that the amounts accrued do not have a material effect on our consolidated financial condition or results of operations. However, if any one or more of these matters results in a judgment against us or settlement for an amount that is significantly greater than the amount accrued, the resulting liability could have a material effect on the company ' s consolidated results of operations or cash flows. Based on our most recent review, our estimate for any other matters for which the risk of loss is not probable, but more than remote, is less than $1 million .

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We operate primarily in two industries, property casualty insurance and life insurance. We regularly review our reporting segments to make decisions about allocating resources and assessing performance. Our reporting segments are: • Commercial lines insurance • Personal lines insurance • Excess and surplus lines insurance • Life insurance • Investments We report as Other the noninvestment operations of the parent company and its noninsurer subsidiary, CFC Investment Company and Cincinnati Re, our reinsurance assumed operations. See our 2015 Annual Report on Form 10-K, Item 8, Note 18, Segment Information, Page 155, for a description of revenue, income or loss before income taxes and identifiable assets for each of the five segments. Segment information is summarized in the following table: (Dollars in millions) Three months ended March 31, 2016 2015 Revenues: Commercial lines insurance Commercial casualty $ 257 $ 244 Commercial property 214 196 Commercial auto 144 136 Workers' compensation 89 93 Other commercial 56 64 Commercial lines insurance premiums 760 733 Fee revenues 1 1 Total commercial lines insurance 761 734 Personal lines insurance Personal auto 131 123 Homeowner 119 114 Other personal 33 31 Personal lines insurance premiums 283 268 Fee revenues 1 1 Total personal lines insurance 284 269 Excess and surplus lines insurance 43 40 Life insurance premiums 58 53 Separate account investment management fees 1 1 Total life insurance 59 54 Investments Investment income, net of expenses 145 139 Realized investment gains, net 61 47 Total investment revenue 206 186 Other 11 2 Total revenues $ 1,364 $ 1,285 Income (loss) before income taxes: Insurance underwriting results Commercial lines insurance $ 50 $ 26 Personal lines insurance 28 (3 ) Excess and surplus lines insurance 17 4 Life insurance (1 ) (3 ) Investments 184 165 Other (13 ) (15 ) Total income before income taxes $ 265 $ 174 Identifiable assets: March 31, December 31, 2015 Property casualty insurance $ 2,699 $ 2,717 Life insurance 1,372 1,325 Investments 14,978 14,485 Other 398 361 Total $ 19,447 $ 18,888

Accounting Policies Pending Acc

Accounting Policies Pending Accounting Updates (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Compensation Related Costs, Policy [Policy Text Block]	ASU 2014-12, Compensation-Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-12, Compensation-Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 requires that performance targets that affect vesting and that could be achieved after the requisite service period be treated as performance conditions. The effective date of ASU 2014-12 was for interim and annual reporting periods beginning after December 15, 2015. The company adopted this ASU and it did not have a material impact on our company’s financial position, cash flows or results of operations.
Consolidation, Policy [Policy Text Block]	ASU 2015-02, Consolidation-Amendments to the Consolidation Analysis In February 2015, the FASB issued ASU 2015-02, Consolidation-Amendments to the Consolidation Analysis. ASU 2015-02 makes amendments to the current consolidation guidance, focusing mainly on the investment management industry; however, entities across all industries may be impacted. The effective date of ASU 2015-02 was for interim and annual reporting periods beginning after December 15, 2015. The company adopted this ASU and it did not have a material impact on our company’s financial position, cash flows or results of operations.
Revenue Recognition, Policy [Policy Text Block]	ASU 2014-09 Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . ASU 2014-09 requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. Insurance contracts do not fall within the scope of this ASU. The effective date of ASU 2014-09 is for annual reporting periods beginning after December 15, 2017. The ASU has not yet been adopted and will not have a material impact on our company’s financial position, cash flows or results of operations.
Short-Duration Contracts, Policy [Policy Text Block]	ASU 2015-09, Financial Services-Insurance: Disclosures about Short-Duration Contracts In May 2015, the FASB issued ASU 2015-09, Financial Services-Insurance: Disclosures About Short-Duration Contracts. ASU 2015-09 requires entities to provide additional disclosures about the liability for loss and loss expense reserves to increase the transparency of significant estimates. ASU 2015-09 also requires entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for loss and loss expense reserves, including reasons for the change and the effects on the financial statements. ASU 2015-09 also requires entities to disclose a rollforward of the liability of loss and loss expense reserves for annual and interim reporting periods. The effective date of ASU 2015-09 is for annual reporting periods beginning after December 15, 2015, and interim reporting periods within annual period beginning after December 15, 2016. The ASU has not yet been adopted and will not have a material impact on our company’s financial position, cash flows or results of operations, but the ASU will require additional disclosures to our annual and interim reporting periods.
Fair Value of Financial Instruments, Policy [Policy Text Block]	ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 revises the accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The effective date of ASU 2016-01 is for interim and annual reporting periods beginning after December 15, 2017. The ASU has not yet been adopted. Management is currently evaluating the impact on our company’s consolidated financial position, cash flows and results of operations.
Lease, Policy [Policy Text Block]	ASU 2016-02, Leases (Topic 842) In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The main provision of ASU 2016-02 requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The effective date of ASU 2016-02 is for interim and annual reporting periods beginning after December 15, 2018. The ASU has not yet been adopted. Management is currently evaluating the impact on our company’s consolidated financial position, cash flows and results of operations.
Equity Method Investments, Policy [Policy Text Block]	ASU 2016-07, Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued ASU 2016-07, Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting. ASU 2016-07 eliminates the requirement to retroactively adjust an investment, results of operations, and retained earnings once an investment qualifies for use of the equity method. It requires the equity method investor to add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting without retroactive adjustment. The effective date of ASU 2016-07 is for interim and annual reporting periods beginning after December 15, 2016. The ASU has not yet been adopted; however, it is not expected to have a material impact on our company's consolidated financial position, cash flows or results of operations.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 simplifies and improves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The effective date of ASU 2016-09 is for interim and annual reporting periods beginning after December 15, 2016. The ASU has not yet been adopted; however, it is not expected to have a material impact on our company's consolidated financial position, cash flows or results of operations.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2016
Investments [Abstract]
Analysis Of Cost Or Amortized Cost, Gross Unrealized Gains And Losses And Fair Value for Investments	The following table provides cost or amortized cost, gross unrealized gains, gross unrealized losses and fair value for our investment portfolio: (Dollars in millions) Cost or amortized cost Gross unrealized Fair value At March 31, 2016 gains losses Fixed maturity securities: Corporate $ 5,395 $ 295 $ 66 $ 5,624 States, municipalities and political subdivisions 3,499 204 — 3,703 Commercial mortgage-backed 289 11 2 298 Government-sponsored enterprises 240 — — 240 Foreign government 10 — — 10 Convertibles and bonds with warrants attached 5 — — 5 United States government 4 — — 4 Subtotal 9,442 510 68 9,884 Equity securities: Common equities 2,810 1,954 44 4,720 Nonredeemable preferred equities 189 33 1 221 Subtotal 2,999 1,987 45 4,941 Total $ 12,441 $ 2,497 $ 113 $ 14,825 At December 31, 2015 Fixed maturity securities: Corporate $ 5,294 $ 255 $ 96 $ 5,453 States, municipalities and political subdivisions 3,440 172 1 3,611 Commercial mortgage-backed 287 4 2 289 Government-sponsored enterprises 284 — 6 278 Foreign government 10 — — 10 Convertibles and bonds with warrants attached 5 — — 5 United States government 4 — — 4 Subtotal 9,324 431 105 9,650 Equity securities: Common equities 2,749 1,787 51 4,485 Nonredeemable preferred equities 189 32 — 221 Subtotal 2,938 1,819 51 4,706 Total $ 12,262 $ 2,250 $ 156 $ 14,356
Fair Values And Unrealized Losses by Investment Category And By The Duration Of The Securities' Continuous Unrealized Loss Position	The table below provides fair values and gross unrealized losses by investment category and by the duration of the securities’ continuous unrealized loss positions: (Dollars in millions) Less than 12 months 12 months or more Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses At March 31, 2016 Fixed maturity securities: Corporate $ 801 $ 43 $ 153 $ 23 $ 954 $ 66 States, municipalities and political subdivisions 28 — 4 — 32 — Commercial mortgage-backed 49 1 2 1 51 2 Government-sponsored enterprises 29 — 19 — 48 — Subtotal 907 44 178 24 1,085 68 Equity securities: Common equities 345 44 — — 345 44 Nonredeemable preferred equities 42 1 — — 42 1 Subtotal 387 45 — — 387 45 Total $ 1,294 $ 89 $ 178 $ 24 $ 1,472 $ 113 At December 31, 2015 Fixed maturity securities: Corporate $ 1,099 $ 63 $ 133 $ 33 $ 1,232 $ 96 States, municipalities and political subdivisions 47 1 22 — 69 1 Commercial mortgage-backed 103 2 2 — 105 2 Government-sponsored enterprises 100 2 127 4 227 6 Subtotal 1,349 68 284 37 1,633 105 Equity securities: Common equities 270 51 — — 270 51 Nonredeemable preferred equities 35 — — — 35 — Subtotal 305 51 — — 305 51 Total $ 1,654 $ 119 $ 284 $ 37 $ 1,938 $ 156
Investments Classified by Contractual Maturity Date [Table Text Block]	Contractual maturity dates for fixed-maturity investments were: (Dollars in millions) Amortized cost Fair value % of fair value At March 31, 2016 Maturity dates: Due in one year or less $ 481 $ 488 4.9 % Due after one year through five years 3,017 3,202 32.4 Due after five years through ten years 3,676 3,797 38.4 Due after ten years 2,268 2,397 24.3 Total $ 9,442 $ 9,884 100.0 %
Investment Income, Realized Investment Gains And Losses And Change In Unrealized Investment Gains And Losses	The following table provides investment income, realized investment gains and losses, the change in unrealized investment gains and losses, and other items: (Dollars in millions) Three months ended March 31, 2016 2015 Investment income: Interest $ 109 $ 105 Dividends 37 36 Other 1 — Total 147 141 Less investment expenses 2 2 Total $ 145 $ 139 Realized investment gains and losses summary: Fixed maturities: Gross realized gains $ 3 $ 3 Gross realized losses (1 ) — Other-than-temporary impairments (2 ) — Equity securities: Gross realized gains 62 44 Gross realized losses (1 ) (1 ) Other-than-temporary impairments — — Other — 1 Total $ 61 $ 47 Change in unrealized investment gains and losses: Fixed maturities $ 116 $ 46 Equity securities 174 (89 ) Less income taxes (100 ) 15 Total $ 190 $ (28 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Hierarchy for Assets Measured at Fair Value on a Recurring Basis	The following tables illustrate the fair value hierarchy for those assets measured at fair value on a recurring basis at March 31, 2016 , and December 31, 2015 . We do not have any material liabilities carried at fair value. There were no transfers between Level 1 and Level 2. (Dollars in millions) Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total At March 31, 2016 Fixed maturities, available for sale: Corporate $ — $ 5,573 $ 51 $ 5,624 States, municipalities and political subdivisions — 3,703 — 3,703 Commercial mortgage-backed — 298 — 298 Government-sponsored enterprises — 240 — 240 Foreign government — 10 — 10 Convertibles and bonds with warrants attached — 5 — 5 United States government 4 — — 4 Subtotal 4 9,829 51 9,884 Common equities, available for sale 4,720 — — 4,720 Nonredeemable preferred equities, available for sale — 219 2 221 Separate accounts taxable fixed maturities — 755 1 756 Top Hat savings plan mutual funds and common equity (included in Other assets) 22 — — 22 Total $ 4,746 $ 10,803 $ 54 $ 15,603 At December 31, 2015 Fixed maturities, available for sale: Corporate $ — $ 5,402 $ 51 $ 5,453 States, municipalities and political subdivisions — 3,611 — 3,611 Commercial mortgage-backed — 289 — 289 Government-sponsored enterprises — 278 — 278 Foreign government — 10 — 10 Convertibles and bonds with warrants attached — 5 — 5 United States government 4 — — 4 Subtotal 4 9,595 51 9,650 Common equities, available for sale 4,485 — — 4,485 Nonredeemable preferred equities, available for sale — 218 3 221 Separate accounts taxable fixed maturities — 736 1 737 Top Hat savings plan mutual funds and common equity (included in Other assets) 21 — — 21 Total $ 4,510 $ 10,549 $ 55 $ 15,114
Asset Fair Value Measurements Using Significant Unobservable Inputs (Level 3)	The following table provides the change in Level 3 assets for the three months ended March 31 : (Dollars in millions) Asset fair value measurements using significant unobservable inputs (Level 3) Corporate fixed maturities Separate accounts taxable fixed maturities States, municipalities and political subdivisions fixed maturities Nonredeemable preferred equities Total Beginning balance, January 1, 2016 $ 51 $ 1 $ — $ 3 $ 55 Total gains or losses (realized/unrealized): Included in net income — — — — — Included in other comprehensive income — — — (1 ) (1 ) Purchases 5 — — — 5 Sales — — — — — Transfers into Level 3 — — — — — Transfers out of Level 3 (5 ) — — — (5 ) Ending balance, March 31, 2016 $ 51 $ 1 $ — $ 2 $ 54 Beginning balance, January 1, 2015 $ 18 $ — $ — $ 2 $ 20 Total gains or losses (realized/unrealized): Included in net income — — — — — Included in other comprehensive income — — — — — Purchases — — — — — Sales — — — — — Transfers into Level 3 — — 1 — 1 Transfers out of Level 3 — — — — — Ending balance, March 31, 2015 $ 18 $ — $ 1 $ 2 $ 21
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	This table summarizes the book value and principal amounts of our long-term debt: (Dollars in millions) Book value Principal amount March 31, December 31, March 31, December 31, Interest rate Year of issue 2016 2015 2016 2015 6.900 % 1998 Senior debentures, due 2028 $ 26 $ 26 $ 28 $ 28 6.920 % 2005 Senior debentures, due 2028 391 391 391 391 6.125 % 2004 Senior notes, due 2034 369 369 374 374 Total $ 786 $ 786 $ 793 $ 793
Fair Value of Life Policy Loans	The following table shows the fair value of our life policy loans included in other invested assets: (Dollars in millions) Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total At March 31, 2016 Life policy loans $ — $ — $ 42 $ 42 At December 31, 2015 Life policy loans $ — $ — $ 40 $ 40
Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Values of Deferred Annuities, Structured Settlements and Other Items	The following table shows fair values of our note payable and long-term debt: (Dollars in millions) Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total At March 31, 2016 Note payable $ — $ 35 $ — $ 35 6.900% senior debentures, due 2028 — 33 — 33 6.920% senior debentures, due 2028 — 492 — 492 6.125% senior notes, due 2034 — 437 — 437 Total $ — $ 997 $ — $ 997 At December 31, 2015 Note payable $ — $ 35 $ — $ 35 6.900% senior debentures, due 2028 — 31 — 31 6.920% senior debentures, due 2028 — 480 — 480 6.125% senior notes, due 2034 — 425 — 425 Total $ — $ 971 $ — $ 971
Deferred Annuities, Structured Settlements, And Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Values of Deferred Annuities, Structured Settlements and Other Items	The following table shows fair values of our deferred annuities and structured settlements included in life policy and investment contract reserves: (Dollars in millions) Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Total At March 31, 2016 Deferred annuities $ — $ — $ 917 $ 917 Structured settlements — 212 — 212 Total $ — $ 212 $ 917 $ 1,129 At December 31, 2015 Deferred annuities $ — $ — $ 886 $ 886 Structured settlements — 208 — 208 Total $ — $ 208 $ 886 $ 1,094

Property Casualty Loss and Lo25

Property Casualty Loss and Loss Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Premiums Written, Net [Abstract]
Consolidated Property Casualty Loss And Loss Expense Reserves	This table summarizes activity for our consolidated property casualty loss and loss expense reserves: (Dollars in millions) Three months ended March 31, 2016 2015 Gross loss and loss expense reserves, beginning of period $ 4,660 $ 4,438 Less reinsurance recoverable 281 282 Net loss and loss expense reserves, beginning of period 4,379 4,156 Net incurred loss and loss expenses related to: Current accident year 723 711 Prior accident years (62 ) (22 ) Total incurred 661 689 Net paid loss and loss expenses related to: Current accident year 146 147 Prior accident years 416 399 Total paid 562 546 Net loss and loss expense reserves, end of period 4,478 4,299 Plus reinsurance recoverable 272 278 Gross loss and loss expense reserves, end of period $ 4,750 $ 4,577

Life Policy and Investment Co26

Life Policy and Investment Contract Reserves (Tables)	3 Months Ended
	Mar. 31, 2016
Liability for Future Policy Benefits [Abstract]
Reserve For Losses Loss Adjustment Expenses Table [Text Block]	This table summarizes our life policy and investment contract reserves: (Dollars in millions) March 31, December 31, 2015 Ordinary/traditional life $ 956 $ 943 Deferred annuities 860 860 Universal life 561 558 Structured settlements 175 174 Other 49 48 Total life policy and investment contract reserves $ 2,601 $ 2,583

Deferred Acquisition Costs (Ta

Deferred Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Costs [Abstract]
Deferred Policy Acquisition Costs And Asset Reconciliation, Including the Amortized Deferred Policy Acquisition Costs	The table below shows the deferred policy acquisition costs and asset reconciliation. (Dollars in millions) Three months ended March 31, 2016 2015 Property casualty: Deferred policy acquisition costs asset, beginning of period $ 388 $ 379 Capitalized deferred policy acquisition costs 210 196 Amortized deferred policy acquisition costs (201 ) (198 ) Deferred policy acquisition costs asset, end of period $ 397 $ 377 Life: Deferred policy acquisition costs asset, beginning of period $ 228 $ 199 Capitalized deferred policy acquisition costs 12 11 Amortized deferred policy acquisition costs (11 ) (11 ) Amortized shadow deferred policy acquisition costs (8 ) (5 ) Deferred policy acquisition costs asset, end of period $ 221 $ 194 Consolidated: Deferred policy acquisition costs asset, beginning of period $ 616 $ 578 Capitalized deferred policy acquisition costs 222 207 Amortized deferred policy acquisition costs (212 ) (209 ) Amortized shadow deferred policy acquisition costs (8 ) (5 ) Deferred policy acquisition costs asset, end of period $ 618 $ 571

Accumulated Other Comprehensi28

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	(Dollars in millions) Three months ended March 31, 2016 2015 Before tax Income tax Net Before tax Income tax Net Investments: AOCI, beginning of period $ 2,094 $ 722 $ 1,372 $ 2,719 $ 942 $ 1,777 OCI excluding realized gains recognized in net income 351 121 230 3 1 2 Realized gains recognized in net income (61 ) (21 ) (40 ) (46 ) (16 ) (30 ) OCI 290 100 190 (43 ) (15 ) (28 ) AOCI, end of period $ 2,384 $ 822 $ 1,562 $ 2,676 $ 927 $ 1,749 Pension obligations: AOCI, beginning of period $ (42 ) $ (14 ) $ (28 ) $ (36 ) $ (12 ) $ (24 ) OCI excluding amortization recognized in net income — — — — — — Amortization recognized in net income 1 1 — 1 — 1 OCI 1 1 — 1 — 1 AOCI, end of period $ (41 ) $ (13 ) $ (28 ) $ (35 ) $ (12 ) $ (23 ) Life deferred acquisition costs, life policy reserves and other: AOCI, beginning of period $ 1 $ 1 $ — $ (12 ) $ (3 ) $ (9 ) OCI excluding realized gains recognized in net income (4 ) (1 ) (3 ) (1 ) (1 ) — Realized gains recognized in net income — — — (1 ) — (1 ) OCI (4 ) (1 ) (3 ) (2 ) (1 ) (1 ) AOCI, end of period $ (3 ) $ — $ (3 ) $ (14 ) $ (4 ) $ (10 ) Summary of AOCI: AOCI, beginning of period $ 2,053 $ 709 $ 1,344 $ 2,671 $ 927 $ 1,744 Investments OCI 290 100 190 (43 ) (15 ) (28 ) Pension obligations OCI 1 1 — 1 — 1 Life deferred acquisition costs, life policy reserves and other OCI (4 ) (1 ) (3 ) (2 ) (1 ) (1 ) Total OCI 287 100 187 (44 ) (16 ) (28 ) AOCI, end of period $ 2,340 $ 809 $ 1,531 $ 2,627 $ 911 $ 1,716

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2016
Reinsurance Disclosures [Abstract]
Earned Consolidated Property Casualty Insurance Premiums On Assumed And Ceded Business	Our condensed consolidated statements of income include earned consolidated property casualty insurance premiums on assumed and ceded business: (Dollars in millions) Three months ended March 31, 2016 2015 Direct earned premiums $ 1,119 $ 1,076 Assumed earned premiums 15 2 Ceded earned premiums (38 ) (37 ) Earned premiums $ 1,096 $ 1,041
Incurred Consolidated Property Casualty Insurance Loss And Loss Expenses On Assumed And Ceded Business	Our condensed consolidated statements of income include incurred consolidated property casualty insurance loss and loss expenses on assumed and ceded business: (Dollars in millions) Three months ended March 31, 2016 2015 Direct incurred loss and loss expenses $ 648 $ 691 Assumed incurred loss and loss expenses 10 (1 ) Ceded incurred loss and loss expenses 3 (1 ) Incurred loss and loss expenses $ 661 $ 689
Earned Life Insurance Premiums On Ceded Business	Our condensed consolidated statements of income include earned life insurance premiums on ceded business: (Dollars in millions) Three months ended March 31, 2016 2015 Direct earned premiums $ 71 $ 65 Ceded earned premiums (13 ) (12 ) Earned premiums $ 58 $ 53
Life Insurance Contract Holders' Benefits Incurred On Ceded Business	Our condensed consolidated statements of income include life insurance contract holders' benefits incurred on ceded business: (Dollars in millions) Three months ended March 31, 2016 2015 Direct contract holders' benefits incurred $ 76 $ 72 Ceded contract holders' benefits incurred (13 ) (12 ) Contract holders' benefits incurred $ 63 $ 60

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Differences Between The 35 Percent Statutory Income Tax Rate And Effective Income Tax Rate	The differences between the 35 percent statutory federal income tax rate and our effective income tax rate were as follows: (Dollars in millions) Three months ended March 31, 2016 2015 Tax at statutory rate: $ 93 35.0 % $ 61 35.0 % Increase (decrease) resulting from: Tax-exempt income from municipal bonds (9 ) (3.4 ) (8 ) (4.6 ) Dividend received exclusion (8 ) (3.0 ) (8 ) (4.6 ) Other 1 0.5 1 0.6 Provision for income taxes $ 77 29.1 % $ 46 26.4 %

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Calculations For Basic And Diluted Earnings Per Share	The table shows calculations for basic and diluted earnings per share: (In millions except per share data) Three months ended March 31, 2016 2015 Numerator: Net income—basic and diluted $ 188 $ 128 Denominator: Basic weighted-average common shares outstanding 164.2 164.0 Effect of share-based awards: Stock options 1.0 1.0 Nonvested shares 0.8 0.6 Diluted weighted-average shares 166.0 165.6 Earnings per share: Basic $ 1.14 $ 0.78 Diluted 1.13 0.77 Number of anti-dilutive share-based awards: 0.4 0.7

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Defined Benefit Plans Disclosures	The following summarizes the components of net periodic benefit cost for our qualified and supplemental pension plans: (Dollars in millions) Three months ended March 31, 2016 2015 Service cost $ 3 $ 3 Interest cost 3 3 Expected return on plan assets (5 ) (4 ) Amortization of actuarial loss and prior service cost 1 1 Net periodic benefit cost $ 2 $ 3

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment information is summarized in the following table: (Dollars in millions) Three months ended March 31, 2016 2015 Revenues: Commercial lines insurance Commercial casualty $ 257 $ 244 Commercial property 214 196 Commercial auto 144 136 Workers' compensation 89 93 Other commercial 56 64 Commercial lines insurance premiums 760 733 Fee revenues 1 1 Total commercial lines insurance 761 734 Personal lines insurance Personal auto 131 123 Homeowner 119 114 Other personal 33 31 Personal lines insurance premiums 283 268 Fee revenues 1 1 Total personal lines insurance 284 269 Excess and surplus lines insurance 43 40 Life insurance premiums 58 53 Separate account investment management fees 1 1 Total life insurance 59 54 Investments Investment income, net of expenses 145 139 Realized investment gains, net 61 47 Total investment revenue 206 186 Other 11 2 Total revenues $ 1,364 $ 1,285 Income (loss) before income taxes: Insurance underwriting results Commercial lines insurance $ 50 $ 26 Personal lines insurance 28 (3 ) Excess and surplus lines insurance 17 4 Life insurance (1 ) (3 ) Investments 184 165 Other (13 ) (15 ) Total income before income taxes $ 265 $ 174 Identifiable assets: March 31, December 31, 2015 Property casualty insurance $ 2,699 $ 2,717 Life insurance 1,372 1,325 Investments 14,978 14,485 Other 398 361 Total $ 19,447 $ 18,888

Investments - Analysis of Cost

Investments - Analysis of Cost or Amortized Cost, Gross Unrealized Gains and Losses and Fair Value for Investments (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 9,442	$ 9,324
Gross Unrealized Gains	510	431
Gross Unrealized Losses	68	105
Fair Value	9,884	9,650
Debt Securities | Corporate
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	5,395	5,294
Gross Unrealized Gains	295	255
Gross Unrealized Losses	66	96
Fair Value	5,624	5,453
Debt Securities | States, municipalities and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	3,499	3,440
Gross Unrealized Gains	204	172
Gross Unrealized Losses	0	1
Fair Value	3,703	3,611
Debt Securities | Commercial mortgage-backed
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	289	287
Gross Unrealized Gains	11	4
Gross Unrealized Losses	2	2
Fair Value	298	289
Debt Securities | Government-sponsored enterprises
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	240	284
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	6
Fair Value	240	278
Debt Securities | Foreign government
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	10	10
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	10	10
Debt Securities | Convertibles and bonds with warrants attached
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	5	5
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	5	5
Debt Securities | United States government
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	4	4
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	4	4
Equity Securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	2,999	2,938
Gross Unrealized Gains	1,987	1,819
Gross Unrealized Losses	45	51
Fair Value	4,941	4,706
Equity Securities | Common equities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	2,810	2,749
Gross Unrealized Gains	1,954	1,787
Gross Unrealized Losses	44	51
Fair Value	4,720	4,485
Equity Securities | Nonredeemable preferred equities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	189	189
Gross Unrealized Gains	33	32
Gross Unrealized Losses	1	0
Fair Value	221	221
Fixed Maturities And Equity Securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	12,441	12,262
Gross Unrealized Gains	2,497	2,250
Gross Unrealized Losses	113	156
Fair Value	$ 14,825	$ 14,356

Investments - Fair Values and U

Investments - Fair Values and Unrealized Losses by Investment Category and by Duration of Securities' Continuous Unrealized Loss Position (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	$ 1,294	$ 1,654
Less than 12 months Unrealized Losses	89	119
12 months or more Fair Value	178	284
12 months or more Unrealized Losses	24	37
Total Fair Value	1,472	1,938
Total Unrealized Losses	113	156
Fixed Maturities
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	907	1,349
Less than 12 months Unrealized Losses	44	68
12 months or more Fair Value	178	284
12 months or more Unrealized Losses	24	37
Total Fair Value	1,085	1,633
Total Unrealized Losses	68	105
Fixed Maturities | Corporate
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	801	1,099
Less than 12 months Unrealized Losses	43	63
12 months or more Fair Value	153	133
12 months or more Unrealized Losses	23	33
Total Fair Value	954	1,232
Total Unrealized Losses	66	96
Fixed Maturities | States, municipalities and political subdivisions
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	28	47
Less than 12 months Unrealized Losses	0	1
12 months or more Fair Value	4	22
12 months or more Unrealized Losses	0	0
Total Fair Value	32	69
Total Unrealized Losses	0	1
Fixed Maturities | Commercial mortgage-backed
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	49	103
Less than 12 months Unrealized Losses	1	2
12 months or more Fair Value	2	2
12 months or more Unrealized Losses	1	0
Total Fair Value	51	105
Total Unrealized Losses	2	2
Fixed Maturities | Government-sponsored enterprises
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	29	100
Less than 12 months Unrealized Losses	0	2
12 months or more Fair Value	19	127
12 months or more Unrealized Losses	0	4
Total Fair Value	48	227
Total Unrealized Losses	0	6
Equity Securities
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	387	305
Less than 12 months Unrealized Losses	45	51
12 months or more Fair Value	0	0
12 months or more Unrealized Losses	0	0
Total Fair Value	387	305
Total Unrealized Losses	45	51
Equity Securities | Common equities
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	345	270
Less than 12 months Unrealized Losses	44	51
12 months or more Fair Value	0	0
12 months or more Unrealized Losses	0	0
Total Fair Value	345	270
Total Unrealized Losses	44	51
Equity Securities | Nonredeemable preferred equities
Investments, Unrealized Loss Position [Line Items]
Less than 12 months Fair Value	42	35
Less than 12 months Unrealized Losses	1	0
12 months or more Fair Value	0	0
12 months or more Unrealized Losses	0	0
Total Fair Value	42	35
Total Unrealized Losses	$ 1	$ 0

Investments - Schedule of Contr

Investments - Schedule of Contractual Maturities of Investments (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Amortized cost
Due in one year or less	$ 481
Due after one year through five years	3,017
Due after five years through ten years	3,676
Due after ten years	2,268
Total	9,442	$ 9,324
Fair value
Due in one year or less	488
Due after one year through five years	3,202
Due after five years through ten years	3,797
Due after ten years	2,397
Total	$ 9,884	$ 9,650
% of fair value
Due in one year or less	4.90%
Due after one year through five years	32.40%
Due after five years through ten years	38.40%
Due after ten years	24.30%
Total	100.00%

Investments - Realized Investme

Investments - Realized Investment Gains and Losses and Change in Unrealized Investment Gains and Losses and Other Items (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Investment income summary:
Interest	$ 109	$ 105
Dividends	37	36
Other	1	0
Total	147	141
Less investment expenses	2	2
Total	145	139
Realized investment gains and losses summary:
Realized investment gains, net	61	47
Change in unrealized gains and losses summary:
Fixed maturities	190	(28)
Less income taxes	(100)	15
Fixed Maturities
Realized investment gains and losses summary:
Gross realized gains	3	3
Gross realized losses	(1)	0
Other-than-temporary impairments	(2)	0
Change in unrealized gains and losses summary:
Fixed maturities	116	46
Equity Securities
Realized investment gains and losses summary:
Gross realized gains	62	44
Gross realized losses	(1)	(1)
Other-than-temporary impairments	0	0
Other	0	1
Change in unrealized gains and losses summary:
Fixed maturities	$ 174	$ (89)

Investments - Additional Inform

Investments - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)security	Dec. 31, 2015USD ($)security
Gain (Loss) on Investments [Line Items]
Largest Single Common Stock Holding	$ 153
Largest equity holdings to total equity portfolio	3.20%
Largest equity holdings to total portfolio	1.00%
Unrealized losses 12 months or more (equity investment less than $500,000)	$ 24	$ 37
Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months and Below 70 Percent of Amortized Cost | security	2	5
Number Of Securities Other Than Temporary Impairment Losses		20
Fixed maturity investments, Percentage of amortized costs	70.00%	70.00%
Fixed Maturities
Gain (Loss) on Investments [Line Items]
Unrealized investment gains due to a net gain position	$ 510	$ 431
Number Of Securities Other Than Temporary Impairment Losses1 | security	2
Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months | security	44	69
Unrealized losses 12 months or more (equity investment less than $500,000)	$ 24	$ 37
Equity Securities
Gain (Loss) on Investments [Line Items]
Unrealized investment gains due to a net gain position	$ 1,987	$ 1,819
Number Of Securities Other Than Temporary Impairment Losses1 | security	0
Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months	0	0
Unrealized losses 12 months or more (equity investment less than $500,000)	$ 0	$ 0
Procter And Gamble Company, Exxon Mobile Corporation And Chevron Corporation [Member]
Gain (Loss) on Investments [Line Items]
Unrealized investment gains due to a net gain position	$ 597
Common equities
Gain (Loss) on Investments [Line Items]
Number of securities	7

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy for Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	$ 9,884	$ 9,650
Equity securities, at fair value	4,941	4,706
Separate accounts	773	748
Top Hat savings plan mutual funds and common equity (included in Other assets)	22	21
Fair value of asset	15,603	15,114
Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	9,884	9,650
Debt Securities | Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	5,624	5,453
Debt Securities | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	3,703	3,611
Debt Securities | Commercial mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	298	289
Debt Securities | Government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	240	278
Debt Securities | Foreign government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	10	10
Debt Securities | Convertibles and bonds with warrants attached
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	5	5
Debt Securities | United States government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	4	4
Equity Securities | Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, at fair value	4,720	4,485
Equity Securities | Nonredeemable preferred equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, at fair value	221	221
Taxable Fixed Maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Separate accounts	756	737
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Top Hat savings plan mutual funds and common equity (included in Other assets)	22	21
Fair value of asset	4,746	4,510
Quoted prices in active markets for identical assets (Level 1) | Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	4	4
Quoted prices in active markets for identical assets (Level 1) | Debt Securities | Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Quoted prices in active markets for identical assets (Level 1) | Debt Securities | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Quoted prices in active markets for identical assets (Level 1) | Debt Securities | Commercial mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Quoted prices in active markets for identical assets (Level 1) | Debt Securities | Government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Quoted prices in active markets for identical assets (Level 1) | Debt Securities | Foreign government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Quoted prices in active markets for identical assets (Level 1) | Debt Securities | Convertibles and bonds with warrants attached
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Quoted prices in active markets for identical assets (Level 1) | Debt Securities | United States government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	4	4
Quoted prices in active markets for identical assets (Level 1) | Equity Securities | Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, at fair value	4,720	4,485
Quoted prices in active markets for identical assets (Level 1) | Equity Securities | Nonredeemable preferred equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, at fair value	0	0
Quoted prices in active markets for identical assets (Level 1) | Taxable Fixed Maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Separate accounts	0	0
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Top Hat savings plan mutual funds and common equity (included in Other assets)	0	0
Fair value of asset	10,803	10,549
Significant other observable inputs (Level 2) | Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	9,829	9,595
Significant other observable inputs (Level 2) | Debt Securities | Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	5,573	5,402
Significant other observable inputs (Level 2) | Debt Securities | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	3,703	3,611
Significant other observable inputs (Level 2) | Debt Securities | Commercial mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	298	289
Significant other observable inputs (Level 2) | Debt Securities | Government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	240	278
Significant other observable inputs (Level 2) | Debt Securities | Foreign government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	10	10
Significant other observable inputs (Level 2) | Debt Securities | Convertibles and bonds with warrants attached
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	5	5
Significant other observable inputs (Level 2) | Debt Securities | United States government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Significant other observable inputs (Level 2) | Equity Securities | Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, at fair value	0	0
Significant other observable inputs (Level 2) | Equity Securities | Nonredeemable preferred equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, at fair value	219	218
Significant other observable inputs (Level 2) | Taxable Fixed Maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Separate accounts	755	736
Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Top Hat savings plan mutual funds and common equity (included in Other assets)	0	0
Fair value of asset	54	55
Significant unobservable inputs (Level 3) | Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	51	51
Significant unobservable inputs (Level 3) | Debt Securities | Corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	51	51
Significant unobservable inputs (Level 3) | Debt Securities | States, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Significant unobservable inputs (Level 3) | Debt Securities | Commercial mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Significant unobservable inputs (Level 3) | Debt Securities | Government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Significant unobservable inputs (Level 3) | Debt Securities | Foreign government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Significant unobservable inputs (Level 3) | Debt Securities | Convertibles and bonds with warrants attached
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Significant unobservable inputs (Level 3) | Debt Securities | United States government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, at fair value	0	0
Significant unobservable inputs (Level 3) | Equity Securities | Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, at fair value	0	0
Significant unobservable inputs (Level 3) | Equity Securities | Nonredeemable preferred equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities, at fair value	2	3
Significant unobservable inputs (Level 3) | Taxable Fixed Maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Separate accounts	$ 1	$ 1

Fair Value Measurements - Chang

Fair Value Measurements - Change in Level 3 Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 55	$ 20
Total gains or losses (realized/unrealized):
Included in net income	0	0
Included in other comprehensive income	(1)	0
Purchases	5	0
Sales	0	0
Transfers into Level 3	0	1
Transfers out of Level 3	(5)	0
Ending balance	54	21
Corporate Fixed Maturities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	51	18
Total gains or losses (realized/unrealized):
Included in net income	0	0
Included in other comprehensive income	0	0
Purchases	5	0
Sales	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	(5)	0
Ending balance	51	18
Commercial mortgage-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1	0
Total gains or losses (realized/unrealized):
Included in net income	0	0
Included in other comprehensive income	0	0
Purchases	0	0
Sales	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending balance	1	0
States, Municipalities And Political Subdivisions Fixed Maturities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	0
Total gains or losses (realized/unrealized):
Included in net income	0	0
Included in other comprehensive income	0	0
Purchases	0	0
Sales	0	0
Transfers into Level 3	0	1
Transfers out of Level 3	0	0
Ending balance	0	1
Preferred Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	3	2
Total gains or losses (realized/unrealized):
Included in net income	0	0
Included in other comprehensive income	(1)	0
Purchases	0	0
Sales	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending balance	$ 2	$ 2

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Book Value and Principal Amounts of Long-Term Debt (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Book value	$ 786	$ 786
Principal amount of debt	$ 793	$ 793
Senior Debentures 6.900% Due 2028
Debt Instrument [Line Items]
Interest rate	6.90%	6.90%
Debt issuance year	1,998	1,998
Book value	$ 26	$ 26
Principal amount of debt	$ 28	$ 28
Senior Debentures 6.920% Due 2028
Debt Instrument [Line Items]
Interest rate	6.92%	6.92%
Debt issuance year	2,005	2,005
Book value	$ 391	$ 391
Principal amount of debt	$ 391	$ 391
Senior Notes 6.152% Due 2034
Debt Instrument [Line Items]
Interest rate	6.125%	6.125%
Debt issuance year	2,004	2,004
Book value	$ 369	$ 369
Principal amount of debt	$ 374	$ 374

Fair Value Measurements - Fai42

Fair Value Measurements - Fair Values of Note Payable and Long-Term Debt (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of note payable	$ 35	$ 35
Total	997	971
Finance receivable	$ 60	$ 62
Senior Debentures 6.900 % Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	6.90%	6.90%
Debt instrument, year of maturity	2,028	2,028
Fair value of senior debt	$ 33	$ 31
Senior Debentures 6.920 % Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	6.92%	6.92%
Debt instrument, year of maturity	2,028	2,028
Fair value of senior debt	$ 492	$ 480
Senior Notes 6.125 % Due 2034
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	6.125%	6.125%
Debt instrument, year of maturity	2,034	2,034
Fair value of senior debt	$ 437	$ 425
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of note payable	0	0
Total	0	0
Quoted prices in active markets for identical assets (Level 1) | Senior Debentures 6.900 % Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	0	0
Quoted prices in active markets for identical assets (Level 1) | Senior Debentures 6.920 % Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	0	0
Quoted prices in active markets for identical assets (Level 1) | Senior Notes 6.125 % Due 2034
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	0	0
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of note payable	35	35
Total	997	971
Significant other observable inputs (Level 2) | Senior Debentures 6.900 % Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	33	31
Significant other observable inputs (Level 2) | Senior Debentures 6.920 % Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	492	480
Significant other observable inputs (Level 2) | Senior Notes 6.125 % Due 2034
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	437	425
Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of note payable	0	0
Total	0	0
Significant unobservable inputs (Level 3) | Senior Debentures 6.900 % Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	0	0
Significant unobservable inputs (Level 3) | Senior Debentures 6.920 % Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	0	0
Significant unobservable inputs (Level 3) | Senior Notes 6.125 % Due 2034
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior debt	0	0
Deferred Annuities And Structured Settlements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability for Future Policy Benefits, Individual and Group Annuities and Supplementary Contracts	860	860
Policy Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance receivable	$ 30	$ 31

Fair Value Measurements - Fai43

Fair Value Measurements - Fair Value of Life Policy Loans (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance receivable	$ 60	$ 62
Fair value of life policy loans	42	40
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of life policy loans	0	0
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of life policy loans	0	0
Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of life policy loans	42	40
Policy Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance receivable	$ 30	$ 31

Fair Value Measurements - Fai44

Fair Value Measurements - Fair Values of Deferred Annuities, Structured Settlements and Other Items (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	$ 1,129	$ 1,094
Deferred Annuities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	917	886
Structured Settlements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	212	208
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	0	0
Quoted prices in active markets for identical assets (Level 1) | Deferred Annuities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	0	0
Quoted prices in active markets for identical assets (Level 1) | Structured Settlements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	0	0
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	212	208
Significant other observable inputs (Level 2) | Deferred Annuities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	0	0
Significant other observable inputs (Level 2) | Structured Settlements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	212	208
Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	917	886
Significant unobservable inputs (Level 3) | Deferred Annuities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	917	886
Significant unobservable inputs (Level 3) | Structured Settlements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value of life insurance liabilities	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance receivable	$ 60	$ 62
Loss and loss expense reserves	4,804	4,718
Life Policy Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Finance receivable	30	31
Deferred Annuities And Structured Settlements [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability for Future Policy Benefits, Individual and Group Annuities and Supplementary Contracts	860	860
Loss and loss expense reserves	$ 175	$ 174
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage Of Level 3 Assets To Total Financial Instruments Measured At Fair Value	1.00%

Property Casualty Loss and Lo46

Property Casualty Loss and Loss Expenses - Consolidated Property Casualty Loss and Loss Expense Reserves (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Summary of Consolidated Property Casualty Loss and Loss Expense Reserves [Roll Forward]
Gross loss and loss expense reserves, beginning of period	$ 4,660	$ 4,438
Less reinsurance recoverable	281	282
Net loss and loss expense reserves, beginning of period	4,379	4,156
Current accident year	723	711
Prior accident years	(62)	(22)
Total incurred	661	689
Current accident year	146	147
Prior accident years	416	399
Total paid	562	546
Net loss and loss expense reserves, end of period	4,478	4,299
Plus reinsurance recoverable	272	278
Gross loss and loss expense reserves, end of period	$ 4,750	$ 4,577

Property Casualty Loss and Lo47

Property Casualty Loss and Loss Expenses - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Reserve for loss and loss expenses	$ 4,750	$ 4,577	$ 4,660	$ 4,438
Prior accident years	(62)	(22)
Life and Health Loss Reserves
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Reserve for loss and loss expenses	54	46
Commercial Lines
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	(29)	(14)
Commercial Lines | Workers' Compensation
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	(13)	(15)
Commercial Lines | Other Commercial Lines [Member]
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	(13)
Commercial Lines | Commercial Auto
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	8	11
Commercial Lines | Commercial Property Segment [Member]
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	(8)	(11)
Personal Lines
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	(18)	(3)
Personal Lines | Home Owner Segment
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	(8)	(7)
Excess and Surplus Lines Insurance
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	(14)	(5)
Reinsurance assumed and other non segment [Member]
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	(1)
Consolidated Property and Casualty Insurance Entity | Catastrophe Development
Supplemental Information for Property, Casualty Insurance Underwriters [Line Items]
Prior accident years	$ (7)	$ (11)

Reserves in Addition to Account

Reserves in Addition to Account Balance, Based on Expected No-Lapse Guarantee Benefits and Expected Policy Assessments (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Liability for Future Policy Benefit, by Product Segment [Line Items]
Life policy and investment contract reserves	$ 2,601	$ 2,583
Ordinary/Traditional Life
Liability for Future Policy Benefit, by Product Segment [Line Items]
Life policy and investment contract reserves	956	943
Deferred Annuities
Liability for Future Policy Benefit, by Product Segment [Line Items]
Life policy and investment contract reserves	860	860
Universal Life
Liability for Future Policy Benefit, by Product Segment [Line Items]
Life policy and investment contract reserves	561	558
Structured Settlements
Liability for Future Policy Benefit, by Product Segment [Line Items]
Life policy and investment contract reserves	175	174
Other
Liability for Future Policy Benefit, by Product Segment [Line Items]
Life policy and investment contract reserves	$ 49	$ 48

Deferred Acquisition Costs - De

Deferred Acquisition Costs - Deferred Policy Acquisition Costs and Asset Reconciliation (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred policy acquisition costs asset, beginning of period	$ 616	$ 578
Capitalized deferred policy acquisition costs	222	207
Deferred Policy Acquisition Cost, Amortization Expense	(212)	(209)
Deferred Policy Acquisition Cost, Amortization Expense, Other	(8)	(5)
Deferred policy acquisition costs asset, end of period	618	571
Life Insurance Product Line [Member]
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred policy acquisition costs asset, beginning of period	228	199
Capitalized deferred policy acquisition costs	12	11
Deferred Policy Acquisition Cost, Amortization Expense	(11)	(11)
Deferred Policy Acquisition Cost, Amortization Expense, Other	(8)	(5)
Deferred policy acquisition costs asset, end of period	221	194
Consolidated Property and Casualty Insurance Entity
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred policy acquisition costs asset, beginning of period	388	379
Capitalized deferred policy acquisition costs	210	196
Deferred Policy Acquisition Cost, Amortization Expense	(201)	(198)
Deferred policy acquisition costs asset, end of period	$ 397	$ 377

Accumulated Other Comprehensi50

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income, net of tax, beginning of period	$ 1,531		$ 1,344
Accumulated other comprehensive income, net of tax, end of period	1,531
Accumulated Net Unrealized Investment Gain (Loss)
Accumulated Other Comprehensive Income Loss Before Tax [Abstract]
Accumulated other comprehensive income, before tax, beginning of period	2,094	$ 2,719
Other comprehensive income before reclassification, before tax	351	3
Reclassification adjustment, before tax	(61)	(46)
Effect on other comprehensive income, before tax	290	(43)
Accumulated other comprehensive income, before tax, end of period	2,384	2,676
Accumulated Other Comprehensive Income (Loss), Tax [Abstract]
Accumulated other comprehensive income, tax, beginning of period	722	942
Other comprehensive income before reclassification, tax	121	1
Reclassification adjustment, tax	(21)	(16)
Effect on other comprehensive income, tax	100	(15)
Accumulated other comprehensive income, tax, end of period	822	927
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income, net of tax, beginning of period	1,562	1,749	1,372	$ 1,777
Other comprehensive income before reclassification, net of tax	230	2
Reclassification adjustment, net of tax	(40)	(30)
Effect on other comprehensive income, net of tax	190	(28)
Accumulated other comprehensive income, net of tax, end of period	1,562	1,749
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income Loss Before Tax [Abstract]
Accumulated other comprehensive income, before tax, beginning of period	(42)	(36)
Other comprehensive income before reclassification, before tax	0	0
Reclassification adjustment, before tax	1	1
Effect on other comprehensive income, before tax	1	1
Accumulated other comprehensive income, before tax, end of period	(41)	(35)
Accumulated Other Comprehensive Income (Loss), Tax [Abstract]
Accumulated other comprehensive income, tax, beginning of period	(14)	(12)
Other comprehensive income before reclassification, tax	0	0
Reclassification adjustment, tax	1	0
Effect on other comprehensive income, tax	1	0
Accumulated other comprehensive income, tax, end of period	(13)	(12)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income, net of tax, beginning of period	(28)	(23)	(28)	(24)
Other comprehensive income before reclassification, net of tax	0	0
Reclassification adjustment, net of tax	0	1
Effect on other comprehensive income, net of tax	0	1
Accumulated other comprehensive income, net of tax, end of period	(28)	(23)
Accumulated Net Unrealized Gain (Loss) on Deferred Costs, Reserves And Other
Accumulated Other Comprehensive Income Loss Before Tax [Abstract]
Accumulated other comprehensive income, before tax, beginning of period	1	(12)
Other comprehensive income before reclassification, before tax	(4)	(1)
Reclassification adjustment, before tax	0	(1)
Effect on other comprehensive income, before tax	(4)	(2)
Accumulated other comprehensive income, before tax, end of period	(3)	(14)
Accumulated Other Comprehensive Income (Loss), Tax [Abstract]
Accumulated other comprehensive income, tax, beginning of period	1	(3)
Other comprehensive income before reclassification, tax	(1)	(1)
Reclassification adjustment, tax	0	0
Effect on other comprehensive income, tax	(1)	(1)
Accumulated other comprehensive income, tax, end of period	0	(4)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income, net of tax, beginning of period	(3)	(10)	0	(9)
Other comprehensive income before reclassification, net of tax	(3)	0
Reclassification adjustment, net of tax	0	(1)
Effect on other comprehensive income, net of tax	(3)	(1)
Accumulated other comprehensive income, net of tax, end of period	(3)	(10)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss Before Tax [Abstract]
Accumulated other comprehensive income, before tax, beginning of period	2,053	2,671
Change in unrealized gains, net, on investments available for sale, before tax	290	(43)
Change in pension obligations, before tax	1	1
Change in life deferred acquisition costs, life policy reserves and other, before tax	(4)	(2)
Effect on other comprehensive income, before tax	287	(44)
Accumulated other comprehensive income, before tax, end of period	2,340	2,627
Accumulated Other Comprehensive Income (Loss), Tax [Abstract]
Accumulated other comprehensive income, tax, beginning of period	709	927
Change in unrealized gains, net, on investments available for sale, tax	100	(15)
Change in pension obligations, tax	1	0
Change in life deferred acquisition costs, life policy reserves and other, tax	(1)	(1)
Effect on other comprehensive income, tax	100	(16)
Accumulated other comprehensive income, tax, end of period	809	911
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated other comprehensive income, net of tax, beginning of period	1,531	1,716	$ 1,344	$ 1,744
Change in unrealized gains, net, on investments available for sale, net of tax	190	(28)
Change in pension obligations, net of tax	0	1
Change in life deferred acquisition costs, life policy reserves and other, net of tax	(3)	(1)
Effect on other comprehensive income, net of tax	187	(28)
Accumulated other comprehensive income, net of tax, end of period	$ 1,531	$ 1,716

Reinsurance - Earned Consolidat

Reinsurance - Earned Consolidated Property Casualty Insurance Premiums on Assumed and Ceded Business (Detail) - Consolidated Property and Casualty Insurance Entity - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct earned premiums	$ 1,119	$ 1,076
Assumed earned premiums	15	2
Ceded earned premiums	(38)	(37)
Earned premiums	$ 1,096	$ 1,041

Reinsurance - Incurred Consolid

Reinsurance - Incurred Consolidated Property Casualty Insurance Loss and Loss Expenses on Assumed and Ceded Business (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Incurred loss and loss expenses	$ 724	$ 749
Consolidated Property and Casualty Insurance Entity
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct incurred loss and loss expenses	648	691
Assumed incurred loss and loss expenses	10	(1)
Ceded incurred loss and loss expenses	3	(1)
Incurred loss and loss expenses	$ 661	$ 689

Reinsurance - Earned Life Insur

Reinsurance - Earned Life Insurance Premiums on Ceded Business (Detail) - Life Insurance Segment - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct earned premiums	$ 71	$ 65
Ceded earned premiums	(13)	(12)
Earned premiums	$ 58	$ 53

Reinsurance - Life Insurance Co

Reinsurance - Life Insurance Contract Holders' Benefits Incurred on Ceded Business (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Insurance losses and contract holders' benefits	$ 724	$ 749
Life Insurance Segment
Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items]
Direct contract holders' benefits incurred	76	72
Ceded contract holders' benefits incurred	(13)	(12)
Insurance losses and contract holders' benefits	$ 63	$ 60

Income Taxes - Differences Betw

Income Taxes - Differences Between 35 Percent Statutory Income Tax Rate and Effective Income Tax Rate (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Tax at statutory rate	$ 93	$ 61
Increase (decrease) resulting from:
Tax-exempt income from municipal bonds	(9)	(8)
Dividend received exclusion	(8)	(8)
Other	1	1
Total provision for income taxes	$ 77	$ 46
Tax at statutory rate	35.00%	35.00%
Increase (decrease) resulting from:
Tax-exempt income from municipal bonds	(3.40%)	(4.60%)
Dividend received exclusion	(3.00%)	(4.60%)
Other	0.50%	0.60%
Provision for income taxes	29.10%	26.40%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Tax at statutory rate, percentage	35.00%	35.00%

Net Income Per Common Share - C

Net Income Per Common Share - Calculations for Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net income-basic and diluted	$ 188	$ 128
Denominator:
Basic weighted-average common shares outstanding (in shares)	164.2	164
Diluted weighted-average shares	166	165.6
Earnings per share:
Basic (in USD per share)	$ 1.14	$ 0.78
Diluted (in USD per share)	$ 1.13	$ 0.77
Number of anti-dilutive stock-based awards (in shares)	0.4	0.7
Stock Options
Denominator:
Effect of stock-based awards (in shares)	1	1
Nonvested shares
Denominator:
Effect of stock-based awards (in shares)	0.8	0.6

Employee Retirement Benefits -

Employee Retirement Benefits - Components of Net Periodic Costs for Qualified and Supplemental Pension Plans (Detail) - Qualified Pension Plans [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3	$ 3
Interest cost	3	3
Expected return on plan assets	(5)	(4)
Amortization of actuarial loss and prior service cost	1	1
Net periodic benefit cost	$ 2	$ 3

Employee Retirement Benefits 59

Employee Retirement Benefits - Defined Contribution Plan (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Matching contributions to 401(k) and Top Hat plans	$ 4	$ 4
Qualified Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions by employer in the remainder of year	0
Pension contributions	$ 5

Commitments and Contingent Li60

Commitments and Contingent Liabilities (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimate for which the risk of loss is more than remote but not probable	$ 1

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Earned premiums	$ 1,154	$ 1,094
Fee revenues	3	3
Investment income, net of expenses	145	139
Realized investment gains, net	61	47
Other	1	2
Total revenues	1,364	1,285
Income (loss) before income taxes	265	174
Identifiable assets	19,447		$ 18,888
Consolidated Property and Casualty Insurance Entity
Segment Reporting Information [Line Items]
Identifiable assets	2,699		2,717
Life Insurance Segment
Segment Reporting Information [Line Items]
Identifiable assets	1,372		1,325
Investments Segment
Segment Reporting Information [Line Items]
Identifiable assets	14,978		14,485
Operating Segments | Commercial Lines
Segment Reporting Information [Line Items]
Earned premiums	760	733
Fee revenues	1	1
Total revenues	761	734
Income (loss) before income taxes	50	26
Operating Segments | Personal Lines
Segment Reporting Information [Line Items]
Earned premiums	283	268
Fee revenues	1	1
Total revenues	284	269
Income (loss) before income taxes	28	(3)
Operating Segments | Excess and Surplus Lines Insurance
Segment Reporting Information [Line Items]
Earned premiums	43	40
Income (loss) before income taxes	17	4
Operating Segments | Life Insurance Segment
Segment Reporting Information [Line Items]
Earned premiums	58	53
Fee revenues	1	1
Total revenues	59	54
Income (loss) before income taxes	(1)	(3)
Operating Segments | Investments Segment
Segment Reporting Information [Line Items]
Investment income, net of expenses	145	139
Realized investment gains, net	61	47
Total revenues	206	186
Income (loss) before income taxes	184	165
Corporate and Other Non-Segment
Segment Reporting Information [Line Items]
Other	11	2
Income (loss) before income taxes	(13)	(15)
Identifiable assets	398		$ 361
Commercial Casualty | Operating Segments | Commercial Lines
Segment Reporting Information [Line Items]
Earned premiums	257	244
Commercial Property | Operating Segments | Commercial Lines
Segment Reporting Information [Line Items]
Earned premiums	214	196
Commercial Auto | Operating Segments | Commercial Lines
Segment Reporting Information [Line Items]
Earned premiums	144	136
Workers' Compensation | Operating Segments | Commercial Lines
Segment Reporting Information [Line Items]
Earned premiums	89	93
Other Commercial Lines | Operating Segments | Commercial Lines
Segment Reporting Information [Line Items]
Earned premiums	56	64
Personal Auto | Operating Segments | Personal Lines
Segment Reporting Information [Line Items]
Earned premiums	131	123
Home Owner Segment | Operating Segments | Personal Lines
Segment Reporting Information [Line Items]
Earned premiums	119	114
Other Personal Lines | Operating Segments | Personal Lines
Segment Reporting Information [Line Items]
Earned premiums	$ 33	$ 31

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2016segmentindustry
Segment Reporting [Abstract]
Number of Industries Operating In | industry	2
Number of Reportable Segments | segment	5