Cincinnati Financial (CINF) 10-K 24 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 15, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	000-04604
Entity Registrant Name	Cincinnati Financial Corporation
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-0746871
Entity Address, Address Line One	6200 S. Gilmore Road
Entity Address, City or Town	Fairfield
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45014-5141
City Area Code	513
Local Phone Number	870-2000
Title of 12(b) Security	Common stock, $2.00 par
Trading Symbol	CINF
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 18,398,492,958
Entity Common Stock, Shares Outstanding		160,433,769
Entity Central Index Key	0000020286
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	Portions of the definitive Proxy Statement for Cincinnati Financial Corporation’s Annual Meeting of Shareholders to be held on May 7, 2022, are incorporated by reference into Part III of this Form 10-K.

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Firm ID	34
Auditor Location	Cincinnati, Ohio

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Investments
Fixed maturities, at fair value (amortized cost: 2021—$12,230; 2020—$11,312)	$ 13,022	$ 12,338
Equity securities, at fair value (cost: 2021—$4,121; 2020—$3,927)	11,315	8,856
Other invested assets	329	348
Total investments	24,666	21,542
Cash and cash equivalents	1,139	900
Investment income receivable	144	136
Finance receivable	98	95
Premiums receivable	2,053	1,879
Reinsurance recoverable	570	517
Prepaid reinsurance premiums	78	65
Deferred policy acquisition costs	905	805
Land, building and equipment, net, for company use (accumulated depreciation: 2021—$303; 2020—$285)	205	213
Other assets	570	438
Separate accounts	959	952
Total assets	31,387	27,542
Insurance reserves
Loss and loss expense reserves	7,305	6,746
Life policy and investment contract reserves	3,014	2,915
Unearned premiums	3,271	2,960
Other liabilities	1,092	982
Deferred income tax	1,744	1,299
Note payable	54	54
Long-term debt and lease obligations	843	845
Separate accounts	959	952
Total liabilities	18,282	16,753
Commitments and contingent liabilities (Note 16)
Shareholders' Equity
Common stock, par value—$2 per share; (authorized: 2021 and 2020—500 million shares; issued: 2021 and 2020—198.3 million shares)	397	397
Paid-in capital	1,356	1,328
Retained earnings	12,625	10,085
Accumulated other comprehensive income	648	769
Treasury stock, at cost (2021—38.0 million shares and 2020—37.4 million shares)	(1,921)	(1,790)
Total shareholders' equity	13,105	10,789
Total liabilities and shareholders' equity	$ 31,387	$ 27,542

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Fixed maturities, amortized cost	$ 12,230	$ 11,312
Equity securities, cost	4,121	3,927
Land, building and equipment, accumulated depreciation	$ 303	$ 285
Common stock, par value	$ 2	$ 2
Common stock, shares authorized	500,000	500,000
Common stock, shares, issued	198,300	198,300
Treasury Stock, Shares	38,000	37,400

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Earned premiums	$ 6,482	$ 5,980	$ 5,604
Investment income, net of expenses	714	670	646
Investment gains and losses, net	2,409	865	1,650
Fee revenues	15	11	15
Other revenues	10	10	9
Total revenues	9,630	7,536	7,924
Benefits and Expenses
Insurance losses and contract holders' benefits	3,936	4,134	3,638
Underwriting, acquisition and insurance expenses	1,951	1,829	1,738
Interest expense	53	54	53
Other operating expenses	20	20	23
Total benefits and expenses	5,960	6,037	5,452
Income from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	3,670	1,499	2,472
Provision for Income Taxes
Current	247	147	132
Deferred	477	136	343
Total provision for income taxes	724	283	475
Net Income	$ 2,946	$ 1,216	$ 1,997
Per Common Share
Net income—basic (in usd per share)	$ 18.29	$ 7.55	$ 12.24
Net income—diluted (in usd per share)	$ 18.10	$ 7.49	$ 12.10

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 2,946	$ 1,216	$ 1,997
Other Comprehensive Income (Loss)
Change in unrealized gains and losses on investments, net of tax (benefit) of $(50), $92 and $114, respectively	(184)	344	430
Amortization of pension actuarial gains and losses and prior service cost, net of tax (benefit) of $14, $(7) and $2, respectively	54	(25)	5
Change in life deferred acquisition costs, life policy reserves and other, net of tax (benefit) of $2, $1 and $(3), respectively	9	2	(9)
Other comprehensive income (loss)	(121)	321	426
Comprehensive Income	$ 2,825	$ 1,537	$ 2,423

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, Tax	$ (50)	$ 92	$ 114
Other Comprehensive Income Loss, Pension And Other Postretirement Benefit Plans, Net Actuarial Loss And Prior Service Cost Arising During Period, Tax	14	(7)	2
Other Comprehensive Income, Change in Life Deferred Acquisition Costs, Life Policy Reserves and Other, Tax	$ 2	$ 1	$ (3)

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjusted beginning of year				$ 7,625
Increase to allowance through retained earnings for ASU 2016-13, after-tax				0
Beginning Balance at Dec. 31, 2018		$ 397	$ 1,281	7,625	$ 22	$ (1,492)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based awards		0	(12)			21
Share-based compensation			30
Other			7			3
Net Income	$ 1,997			1,997
Dividends declared				(365)
Other comprehensive income (loss)	426				426
Shares acquired - share repurchase authorization						(67)
Shares acquired - share-based compensation plans						(9)
Ending Balance at Dec. 31, 2019	9,864	$ 397	1,306	9,257	448	(1,544)
Beginning Balance (in shares) at Dec. 31, 2018		162,800
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based awards (in shares)		700
Shares acquired—share repurchase authorization (in shares)		(600)
Shares acquired - share-based compensation plans (in shares)		(100)
Other (in shares)		100
Ending Balance (in shares) at Dec. 31, 2019		162,900
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjusted beginning of year				9,255
Increase to allowance through retained earnings for ASU 2016-13, after-tax				(2)
Share-based awards		$ 0	(15)			15
Share-based compensation			31
Other			6			5
Net Income	1,216			1,216
Dividends declared				(386)
Other comprehensive income (loss)	321				321
Shares acquired - share repurchase authorization						(261)
Shares acquired - share-based compensation plans						(5)
Ending Balance at Dec. 31, 2020	10,789	$ 397	1,328	10,085	769	(1,790)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based awards (in shares)		500
Shares acquired—share repurchase authorization (in shares)		(2,500)
Shares acquired - share-based compensation plans (in shares)		(100)
Other (in shares)		100
Ending Balance (in shares) at Dec. 31, 2020		160,900
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjusted beginning of year				10,085
Increase to allowance through retained earnings for ASU 2016-13, after-tax				0
Share-based awards		$ 0	(14)			18
Share-based compensation			33
Other			9			3
Net Income	2,946			2,946
Dividends declared				(406)
Other comprehensive income (loss)	(121)				(121)
Shares acquired - share repurchase authorization						(144)
Shares acquired - share-based compensation plans						(8)
Ending Balance at Dec. 31, 2021	$ 13,105	$ 397	$ 1,356	$ 12,625	$ 648	$ (1,921)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based awards (in shares)	415	600
Shares acquired—share repurchase authorization (in shares)		(1,200)
Shares acquired - share-based compensation plans (in shares)		(100)
Other (in shares)		100
Ending Balance (in shares) at Dec. 31, 2021		160,300

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows From Operating Activities
Net Income	$ 2,946	$ 1,216	$ 1,997
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	93	81	72
Investment gains and losses, net	(2,353)	(851)	(1,640)
Share-based compensation	33	31	30
Interest credited to contract holders	45	43	44
Deferred income tax expense	477	136	343
Changes in:
Investment income receivable	(8)	(3)	(1)
Premiums and reinsurance receivable	(240)	(23)	(174)
Deferred policy acquisition costs	(73)	(39)	(61)
Other assets	(11)	(26)	(22)
Loss and loss expense reserves	559	599	163
Life policy and investment contract reserves	99	116	107
Unearned premiums	311	172	184
Other liabilities	128	(5)	74
Current income tax receivable/payable	(25)	44	92
Net cash provided by operating activities	1,981	1,491	1,208
Cash Flows From Investing Activities
Sale of fixed maturities	118	179	102
Call or maturity of fixed maturities	1,343	912	1,241
Sale of equity securities	136	515	203
Purchase of fixed maturities	(2,388)	(1,382)	(1,742)
Purchase of equity securities	(313)	(699)	(382)
Investment in finance receivables	(39)	(50)	(34)
Collection of finance receivables	37	35	29
Investment in buildings and equipment	(15)	(20)	(24)
Change in other invested assets, net	64	(50)	(72)
Net cash used in investing activities	(1,057)	(560)	(679)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders	(395)	(375)	(355)
Shares acquired - share repurchase authorization	(144)	(261)	(67)
Changes in note payable	0	15	7
Proceeds from stock options exercised	13	7	11
Contract holders' funds deposited	85	85	86
Contract holders' funds withdrawn	(146)	(159)	(174)
Other	(98)	(110)	(54)
Net cash used in financing activities	(685)	(798)	(546)
Net change in cash and cash equivalents	239	133	(17)
Cash and cash equivalents at beginning of year	900	767	784
Cash and cash equivalents at end of year	1,139	900	767
Supplemental Disclosures of Cash Flow Information
Interest paid	52	53	53
Income taxes paid	257	84	34
Noncash Activities
Equipment acquired under finance lease obligations	12	19	14
Share-based compensation	26	19	9
Other assets and other liabilities	$ 87	$ 57	$ 29

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	Summary of Significant Accounting Policies Nature of Operations Cincinnati Financial Corporation (CFC) operates through The Cincinnati Insurance Company and Cincinnati Global Underwriting Ltd. SM (Cincinnati Global) insurance subsidiaries and two complementary subsidiary companies. Cincinnati Global, our London-based global specialty underwriter, was acquired effective February 28, 2019. The Cincinnati Insurance Company leads our insurance group that also includes two subsidiaries: The Cincinnati Casualty Company and The Cincinnati Indemnity Company. This group markets a broad range of standard market commercial and personal policies. The group focuses on delivery of quality customer service to our select group of 1,921 independent insurance agencies with 2,721 reporting locations acros s 46 states . Other subsidiaries of The Cincinnati Insurance Company include: The Cincinnati Life Insurance Company, which markets life insurance and fixed annuities; and The Cincinnati Specialty Underwriters Insurance Company, which offers excess and surplus lines property casualty insurance products. The Cincinnati Insurance Company also conducts the business of our reinsurance assumed operations, Cincinnati Re ® . The two CFC complementary subsidiaries are CSU Producer Resources Inc., which provides insurance brokerage services to our independent agencies so their clients can access our excess and surplus lines insurance products, and CFC Investment Company, which offers commercial leasing and financing services to our agents, their clients and other customers. Beginning in mid-March 2020, the coronavirus (SARS-CoV-2 or COVID-19) pandemic outbreak, and unprecedented actions taken to contain the virus, caused an economic downturn on a global scale as well as market disruption and volatility. The estimated pandemic-related incurred losses and expenses were negative $7 million and positive $85 million in 2021 and 2020, respectively. The company continues to monitor the impact of the pandemic as it unfolds. The company cannot predict the impact the pandemic will have on its future consolidated financial position, results of operations and cash flows, however the impact could be material. Basis of Presentation Our consolidated financial statements include the accounts of the parent and its wholly owned subsidiaries and are presented in conformity with accounting principles generally accepted in the United States of America (GAAP). The 2019 consolidated financial statements include Cincinnati Global's results for the period from February 28, 2019, through December 31, 2019. Foreign exchange rates related to Cincinnati Global's operations did not have a material impact to our consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation. The preparation of the consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Our actual results could differ from those estimates. Investments Our portfolio investments are primarily in publicly traded fixed-maturity and equity security investments. Fixed-maturity investments (taxable bonds, tax-exempt bonds, redeemable preferred equities and commercial mortgage- backed securities) classified as available for sale and equity investments (common and nonredeemable preferred equities) are recorded at fair value in the consolidated financial statements. Changes in fair value of fixed-maturity securities are reported in other comprehensive income while equity securities are reported in net income. The number of fixed-maturity securities with fair values below 100% of amortized cost can be expected to fluctuate as interest rates rise or fall. Because of our strong capital and long-term investment horizon, our general intent is to hold fixed-maturity investments until maturity, regardless of short-term fluctuations in fair values. An available for sale fixed maturity is impaired if the fair value of the security is below amortized cost. The impaired loss is charged to net income when we have the intent to sell the security or it is more likely than not we will be required to sell the security before recovery of the amortized cost. For impaired securities we intend to hold, an allowance for credit related losses is recorded in investment losses when the company determines a credit loss has been incurred based on certain factors such as adverse conditions, credit rating downgrades or failure of the issuer to make scheduled principal or interest payments. A credit loss is determined using a discounted cash flow analysis by comparing the present value of expected cash flows with the amortized cost basis, limited to the difference between fair value and amortized cost. Noncredit losses are recognized in other comprehensive income as a change in unrealized gains and losses on investments. As securities are sold, we recognize the gain or loss in income based on the trade date. Included within our other invested assets were $227 million and $128 million of private equity investments, $36 million and $25 million of real estate through direct property ownership and development projects in the United States, $35 million and $162 million held on deposit at Lloyd's and $31 million and $33 million of life policy loans at December 31, 2021 and 2020, respectively. The private equity investments provide their financial statements to us and generally report investments on their balance sheets at fair value. We use the equity method of accounting for private equity and real estate development investments. Lloyd's deposits primarily consist of highly liquid short-term investment instruments. Life policy loans are carried at the receivable value. Investment income, net of expenses, consists mainly of interest and dividends. We record interest on an accrual basis and record dividends at the ex-dividend date. We amortize premiums and discounts on fixed-maturity securities using the effective interest method over the expected life of the security. Fair Value Disclosures Fair value is defined as the exit price or the amount that would be (1) received to sell an asset or (2) paid to transfer a liability in an orderly transaction between marketplace participants at the measurement date. When determining an exit price, we rely upon observable market data whenever possible. We primarily base fair value for investments in equity and fixed-maturity securities (including redeemable preferred stock and assets held in separate accounts) on quoted market prices or on prices from the company’s nationally recognized pricing vendors, outside resources that supply global securities pricing, dividend, corporate action and descriptive information to support fund pricing, securities operations, research and portfolio management. The company obtains and reviews the pricing services' valuation methodologies and related inputs and validates these prices by replicating a sample across each asset class using a discounted cash flow model. When a price is not available from these sources, as in the case of securities that are not publicly traded, we determine the fair value using various inputs including quotes from independent brokers. The fair value of investments not priced by the company’s nationally recognized pricing vendors is immaterial. For the purpose of Accounting Standards Codification (ASC) 825, Financial Instruments disclosure, we estimate the fair value of our long-term senior notes on market pricing of similar debt instruments that are actively trading. We estimate the fair value of our note payable on the year-end outstanding balance because it is short term and tied to a variable interest rate. We estimate the fair value of liabilities for investment contracts and annuities using discounted cash flow calculations across a wide range of economic interest rate scenarios with a provision for our nonperformance risk. We estimate the fair value for policyholder loans on insurance contracts using a discounted cash flow model. Determination of fair value for structured settlements assumes the discount rates used to calculate the present value of expected payments are the risk-free spot rates plus an A3 rated bond spread for financial issuers at December 31, 2021, to account for nonperformance risk. See Note 3, Fair Value Measurements, for further details. Cash and Cash Equivalents Cash and cash equivalents are highly liquid instruments that include liquid debt instruments with original maturities of less than three months. These are carried at cost, which approximates fair value. Property Casualty Insurance The consolidated property casualty companies actively write property casualty insurance through independent agencies i n 46 states. Our 10 largest states generated 52.1% and 53.3% of total earned premiums in 2021 and 2020, respectively. Ohio, our largest state, accounted for 14.4% and 14.8% of total earned premiums in 2021 and 2020, respectively. Illinois, North Carolina, Georgia, Pennsylvania, Indiana and New York each accounted for between 4% and 6% of total earned premiums in 2021. Our largest single agency relationship accounted for approximately 0.6% of our total property casualty earned premiums in 2021. No aggregate agency relationship locations under a single ownership structure accounted for more than 5% of our total property casualty earned premiums in 2021. We record revenues for installment charges as fee revenues in the consolidated statements of income. Property casualty written premiums are deferred and recorded as earned premiums primarily on a pro rata basis over the terms of the policies. We record as unearned premiums the portion of written premiums that applies to unexpired policy terms. Expenses associated with successfully acquiring insurance policies – commissions, premium taxes and underwriting costs – are deferred and amortized over the terms of the policies. We assess recoverability of deferred acquisition costs at a level consistent with the way we acquire, service and manage insurance policies and measure profitability. We analyze our acquisition cost assumptions to reflect actual experience, and we evaluate potential premium deficiencies. Certain property casualty policies are not entered into policy underwriting systems as of the effective date of coverage. An estimate is recorded for these unprocessed written premiums. A large majority of the estimate is unearned and has no material impact on earned premiums. An allowance for credit losses on uncollectible property casualty premiums is updated and reviewed on a quarterly basis. The allowance for credit losses was $14 million, $19 million and $9 million at December 31, 2021, 2020 and January 1, 2020 (date of adoption), respectively. A significant portion of the increase in the allowance to $19 million at December 31, 2020 was due to consideration of pandemic-related factors. Other changes in the amount for each period were immaterial. We establish reserves to cover the expected cost of claims, losses and expenses related to investigating, processing and resolving claims. Although the appropriate amount of reserves is inherently uncertain, we base our decisions on past experience and current facts. Reserves are based on claims reported prior to the end of the year and estimates of incurred but not reported (IBNR) claims. We regularly review and update reserves using the most current information available. Any resulting adjustments are reflected in current calendar year insurance losses and policyholder benefits. We estimate that we may recover some of our costs through salvage and subrogation. Policyholder Dividends Certain workers’ compensation policies include the possibility of a policyholder earning a return of a portion of premium in the form of a policyholder dividend. The dividend generally is calculated by determining the profitability of a policy year along with the associated premium. We reserve for all probable future policyholder dividend payments. We record policyholder dividends as other underwriting expenses. Life Insurance We offer several types of life insurance and we account for each according to the duration of the contract. Short-duration life and health contracts are written to cover claims that arise during a short, fixed term of coverage. We generally have the right to change the amount of premium charged or cancel the coverage at the end of each contract term. We record premiums for short-duration life and health contracts similarly to property casualty contracts. Long-duration contracts are written to provide coverage for an extended period of time. Traditional long-duration contracts require policyholders to pay scheduled gross premiums, generally not less frequently than annually, over the term of the coverage. Premiums for these contracts, such as whole life insurance are recognized as revenue when due. Some traditional long-duration contracts, such as ten-pay whole life insurance, have premium payment periods shorter than the period over which coverage is provided. For these contracts, the excess of premium over the amount required to pay expenses and benefits is recognized over the term of the coverage rather than over the premium payment period. We establish a liability for traditional long-duration contracts as we receive premiums. The amount of this liability is the present value of future expenses and benefits less the present value of future net premiums. Net premium is the portion of gross premium required to provide for all expenses and benefits. We estimate future expenses and benefits and net premium using assumptions for expected expenses, mortality, morbidity, withdrawal rates and investment income. We include a provision for deviation, meaning we allow for some uncertainty in making our assumptions. We establish our assumptions when the contract is issued, and we generally maintain those assumptions for the life of the contract. 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. We use our own experience and historical trends for setting our assumption for expected expenses. We base our assumption for expected investment income on our own experience, adjusted for current and future economic conditions. We capitalize acquisition costs for traditional long-duration contracts. We charge these capitalized costs associated with successfully acquiring traditional long-duration contract insurance policies in proportion to premium revenue recognized. We use the same assumptions used in establishing the liability for the contract. We update our acquisition cost assumptions periodically to reflect actual experience, and we evaluate our deferred acquisition costs for recoverability. Universal life contracts are long-duration contracts for which contractual provisions are not fixed, unlike whole life insurance. Universal life contracts allow policyholders to vary the amount of premium, within limits, without our consent. However, we may vary the mortality, expense charges and the interest crediting rate, within limits, used to accumulate policy values. We do not record universal life premiums as revenue. Instead we recognize as revenue the mortality charges, administration charges and surrender charges when received. Some of our universal life contracts assess administration charges in the early years of the contract that are compensation for services we will provide in the later years of the contract. These administration charges are deferred and are recognized over the period when we provide those future services. We maintain a policy reserve liability equal to the policyholder account value. There is no provision for adverse deviation. 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. We capitalize acquisition costs associated with successfully acquiring universal life long-duration contracts. We charge these capitalized costs to expenses over the term of coverage of the contract in accordance with the recognition of gross profit from the contract or notional benefit base. When we charge deferred policy acquisition costs to expenses, we use assumptions based on our best estimates of long-term experience. We review and modify these assumptions on a regular basis. An allowance for credit losses on uncollectible life insurance premiums is updated and reviewed on a quarterly basis. At December 31, 2021 and 2020, the allowance, including changes in the amount for each period, was immaterial. Separate Accounts We have issued universal life contracts with guaranteed minimum returns, referred to as bank-owned life insurance contracts (BOLIs). A BOLI is designed so the bank is the policy owner and the policy beneficiary. We legally segregate and record as separate accounts the assets and liabilities for some of our BOLIs, based on the specific contract provisions. We guarantee minimum investment returns, account values and death benefits for our separate account BOLIs. Our other BOLIs are general account products. We carry the assets of separate account BOLIs at fair value. The liabilities on separate account BOLIs primarily are the contract holders’ claims to the related assets and are carried at an amount equal to the contract holders’ account value. At December 31, 2021 and 2020, the current fair value of th e BOLI invested assets and cash exceeded the current fair value of the contract holders’ account value by approximately $79 million and $99 million, respectively. If the BOLI projected fair value were to fall below the value we guaranteed, a liability would be established with a corresponding charge to the company’s earnings. Generally, investment income and investment gains and losses of the separate accounts accrue directly to the contract holder, and we do not include them in the consolidated statements of income. Revenues and expenses related to separate accounts consist of contractual fees and mortality, surrender and expense risk charges. Also, each separate account BOLI includes a negotiated capital gain and loss sharing arrangement between the company and the bank. A percentage of each separate account’s investment gains and losses representing contract fees and assessments accrues to us and is transferred from the separate account to our general account and is recognized as revenue or expense. We record as revenues separate account investment management fees in fee revenues of the consolidated statements of income. Reinsurance The Cincinnati Insurance Company offers reinsurance assumed for casualty (predominantly domestic exposure), specialty and property (worldwide exposure). Treaties are written on a pro rata and excess of loss basis. We also continue to assume risk with limited exposure as a reinsurer for involuntary state pools. Written premium is recorded, net of contract specific retrocessions, on an ultimate estimate basis and primarily earned on a pro rata basis over the coverage period of the treaty. Expenses are recorded as per contract terms and deferred over the earning period of the premium. We establish known loss reserves when reported. We establish reserves for losses in excess of reported activity in the form of IBNR. Reserves are established using actuarial analysis, which includes models and methods traditionally used for the types of exposures written. We establish reserves for event specific occurrences using modeling data and company specific data when available. We enter into other reinsurance transactions to reduce risk and uncertainty by buying property casualty reinsurance and retrocessional reinsurance as well as life reinsurance. Reinsurance and retrocessional reinsurance contracts do not relieve us from our obligation to policyholders, but rather help protect our financial strength to perform that duty. All of these ceded reinsurance contracts transfer the economic risk of loss. Premiums that we cede are deferred and recorded as earned premiums on a pro rata basis over the terms of the contracts. We estimate loss amounts recoverable from our reinsurers based on the reinsurance policy terms. Historically, our claims with reinsurers have been paid. An allowance for credit losses on uncollectible reinsurance premiums and recoverable assets is updated and reviewed on a quarterly basis. At December 31, 2021 and 2020, the allowances, including changes in the amount for each period, were immaterial. Income Taxes We calculate deferred income tax liabilities and assets using tax rates in effect when temporary differences in taxable income and financial statement income are expected to reverse. We recognize deferred income taxes for numerous temporary differences between our taxable income and financial statement income and other changes in shareholders’ equity. Such temporary differences relate primarily to unrealized gains and losses on investments and differences in the recognition of deferred acquisition costs, unearned premiums, insurance reserves, international earnings and basis differences in the carrying value of investments held. We charge deferred income taxes associated with balances that impact other comprehensive income, such as unrealized gains and losses of fixed-maturity investments, to shareholders’ equity in accumulated other comprehensive income (AOCI). We charge deferred taxes associated with other differences to income. See Note 11, Income Taxes, for further detail on our uncertain tax positions and other income tax items. Although no Internal Revenue Service (IRS) penalties currently are accrued, if incurred, they would be recognized as a component of income tax expense. Earnings per Share Net income per common share is based on the weighted average number of common shares outstanding during each of the respective years. We calculate net income per common share (diluted) assuming the exercise or conversion of share‑based awards using the treasury stock method. Land, Building and Equipment We record land at cost, and record building and equipment at cost less accumulated depreciation. Equipment held under finance leases also is classified as property and equipment with the related lease obligations recorded as liabilities. We capitalize and amortize costs for internally developed computer software during the application development stage. These costs generally consist of external consulting fees and internal payroll-related costs. Our depreciation is based on estimated useful lives (ranging from three We monitor land, building and equipment and software assets for potential impairments. Indicators of potential impairments may include a significant decrease in the fair values of the assets, considerable cost overruns on projects, a change in legal factors or business climate or other factors that indicate that the carrying amount may not be recoverable or useful. There were no recorded land, building and equipment impairments for 2021, 2020 or 2019. Finance Receivables Our leasing subsidiary provides auto and equipment direct financing (leases and loans) to commercial and individual clients. We generally transfer ownership of the property to the client as the terms of the leases expire. Our lease contracts contain bargain purchase options. We account for these leases and loans as sales-type leases. We capitalize and amortize lease or loan origination costs over the life of the financing, using the effective interest method. These costs may include, but are not limited to finder fees, broker fees, filing fees and the cost of credit reports. We record income as other revenues over the financing term using the effective interest method in the consolidated statements of income. An allowance for credit losses on finance receivables is updated and reviewed on a quarterly basis. At December 31, 2021 and 2020, the allowance, including changes in the amount for each period, was immaterial. Employee Benefit Pension Plan We sponsor a qualified defined benefit pension plan that was modified during 2008. We closed entry into the pension plan, and only participants 40 years of age or older could elect to remain in the plan. Our pension expenses are based on certain actuarial assumptions and also are composed of several components that are determined using the projected unit credit actuarial cost method. Refer to Note 13, Employee Retirement Benefits, for more information about our defined benefit pension plan. Share-Based Compensation We grant qualified and nonqualified share-based compensation under authorized plans. The stock options generally vest on a graded scale over three years following the date of grant and are exercisable over 10-year periods. We grant service-based restricted stock units that cliff vest three years after the date of grant as well as service-based restricted stock units that vest ratably over the three Goodwill and Intangible Assets We recognize goodwill and intangible assets generated through acquisitions within other assets in the consolidated balance sheets. Goodwill arises when the fair value of consideration transferred exceeds the fair value of the net identifiable assets acquired at the acquisition date. Goodwill and intangible assets with an indefinite life are not amortized. Intangible assets with a definite life are amortized on a straight-line basis over the estimated useful lives as follows: broker relationships, 15 years; internally developed technology, five years; value of business acquired, over the remaining coverage period of the underlying insurance contracts, which expired during 2020. We test for impairments on an annual basis or more frequently if events or circumstances indicate that the asset might be impaired. The company performed its annual impairment test on goodwill and intangibles at September 30, which did not result in the recognition of an impairment loss. The company held goodwill of $30 million and intangible assets with an indefinite life of $31 million at December 31, 2021 and 2020, respectively. Subsequent Events There were no subsequent events requiring adjustment to the consolidated financial statements or disclosure. Pending Accounting Updates ASU 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued ASU 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . ASU 2018-12 requires changes to the measurement and disclosure of long-duration contracts. In November 2020, the FASB issued an ASU that delayed the effective date of ASU 2018-12 to interim and annual reporting periods beginning after December 15, 2022. We plan to adopt these ASUs on a modified retrospective basis on January 1, 2023, with a transition date of January 1, 2021. Related to the company's term and whole life products included in life policy reserves, the new guidance requires that cash flow assumptions be reviewed at least annually to determine any necessary updates. Additionally, the discount rate assumption is required to be updated quarterly based on upper-medium grade fixed-income instrument yields (market value discount rates). The life policy reserves balance is adjusted through insurance losses and contract holders' benefits for cash flow assumption updates and through AOCI for discount rate updates. These ASUs also amend the previous guidance related to life deferred policy acquisition costs by requiring amortization of those costs on a constant level basis for a group of contracts that approximates straight-line and the removal of shadow deferred policy acquisition costs for universal life and deferred annuity products. These ASUs also require entities to provide additional disclosures including disaggregated rollforwards of the life policy and investment contract reserves, separate account liabilities and life deferred policy acquisition costs. Management has identified that the requirement to measure term and whole life policy reserves using updated discount rates is expected to have a material impact on shareholders' equity, through an increase to life policy reserves and a decrease to AOCI, at the transition date. The company is in the process of addressing necessary implementation-related items, including modifications to reporting and analysis capabilities as well as actuarial systems and associated data processes. Further, the company continues to refine its accounting policy decisions associated with the new guidance. Additional impacts of these ASUs on our company's consolidated financial position, results of operations and cash flows are being further evaluated by management.

Investments

Investments	12 Months Ended
	Dec. 31, 2021
Investments [Abstract]
Investments	Investments The following table provides amortized cost, gross unrealized gains, gross unrealized losses and fair value for our fixed-maturity securities: (Dollars in millions) Amortized Gross unrealized Fair At December 31, 2021 gains losses Fixed-maturity securities: Corporate $ 7,043 $ 467 $ 13 $ 7,497 States, municipalities and political subdivisions 4,768 330 3 5,095 Commercial mortgage-backed 264 9 — 273 United States government 121 2 — 123 Foreign government 26 — — 26 Government-sponsored enterprises 8 — — 8 Total $ 12,230 $ 808 $ 16 $ 13,022 At December 31, 2020 Fixed-maturity securities: Corporate $ 6,281 $ 621 $ 7 $ 6,895 States, municipalities and political subdivisions 4,604 395 2 4,997 Commercial mortgage-backed 271 15 1 285 United States government 115 5 — 120 Foreign government 29 — — 29 Government-sponsored enterprises 12 — — 12 Total $ 11,312 $ 1,036 $ 10 $ 12,338 The net unrealized investment gains in our fixed-maturity portfolio at December 31, 2021, 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 Aa2/AA and Aa1/AA at December 31, 2021 and 2020, respectively. The table below provides fair values and 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 At December 31, 2021 Fair Unrealized Fair Unrealized Fair Unrealized Fixed-maturity securities: Corporate $ 861 $ 13 $ 15 $ — $ 876 $ 13 States, municipalities and political subdivisions 105 2 2 1 107 3 Commercial mortgage-backed 10 — 11 — 21 — United States government 48 — — — 48 — Foreign government 16 — — — 16 — Government-sponsored enterprises 7 — — — 7 — Total $ 1,047 $ 15 $ 28 $ 1 $ 1,075 $ 16 At December 31, 2020 Fixed-maturity securities: Corporate $ 330 $ 5 $ 46 $ 2 $ 376 $ 7 States, municipalities and political subdivisions 31 2 2 — 33 2 Commercial mortgage-backed 23 1 6 — 29 1 United States government 12 — — — 12 — Foreign government 10 — — — 10 — Government-sponsored enterprises — — — — — — Total $ 406 $ 8 $ 54 $ 2 $ 460 $ 10 Contractual maturity dates for fixed-maturity investments were: (Dollars in millions) Amortized cost Fair % of fair value At December 31, 2021 Maturity dates: Due in one year or less $ 689 $ 697 5.4 % Due after one year through five years 3,675 3,871 29.7 Due after five years through ten years 3,404 3,678 28.2 Due after ten years 4,462 4,776 36.7 Total $ 12,230 $ 13,022 100.0 % Actual maturities may differ from contractual maturities when there is a right to call or prepay obligations with or without call or prepayment penalties. At December 31, 2021 and 2020, the company had fixed-maturity investments with a fair value of $119 million and $121 million, respectively, on deposit with various states in compliance with regulatory requirements. In addition, cash and fixed-maturity investments deposited with third parties used as collateral to secure liabilities on behalf of insureds, cedants and other creditors had a fair value of $116 million and $98 million at December 31, 2021 and 2020, respectively. At December 31, 2021, the company had common equities with a fair value of $84 million held in Lloyd's trust accounts to provide a portion of the capital needed to support Cincinnati Global's operations. In the normal course of investing activities, the company enters into investments in limited partnerships, including private equity, real estate investments and asset-backed securities issued by third-parties. The company’s maximum exposure to loss with respect to these investments is limited to the investment carrying values included in the company’s consolidated balance sheets and any unfunded commitments. The following table provides investment income and investment gains and losses: (Dollars in millions) Years ended December 31, 2021 2020 2019 Investment income: Interest $ 477 $ 455 $ 446 Dividends 246 220 201 Other 5 8 12 Total 728 683 659 Less investment expenses 14 13 13 Total $ 714 $ 670 $ 646 Investment gains and losses, net: Equity securities: Investment gains and losses on securities sold, net $ 4 $ 79 $ 26 Unrealized gains and losses on securities still held, net 2,278 841 1,626 Subtotal 2,282 920 1,652 Fixed-maturity securities: Gross realized gains 36 16 13 Gross realized losses (5) (3) (3) Write-down of impaired securities (1) (78) (9) Subtotal 30 (65) 1 Other 97 10 (3) Total $ 2,409 $ 865 $ 1,650 The fair value of our equity portfolio was $11.315 billion and $8.856 billion at December 31, 2021 and 2020, respectively. At December 31, 2021 and 2020, Apple, Inc. (Nasdaq:AAPL), an equity holding, was our largest single investment holding with a fair value of $862 million and $644 million, which was 7.9% and 7.5% of our publicly traded common equities portfolio and 3.5% and 3.0% of the total investment portfolio, respectively. During 2021, the allowance for credit losses on fixed-maturity securities, including changes in the amount during the period, was immaterial. There were five fixed-maturity securities that were written down to fair value, due to an intention to be sold, for holdings in the municipal sector. At December 31, 2021 , 278 fixed-maturity investments with a total unrealized loss of $16 million w ere in an unrealized loss position. Of that tota l, no fixed-maturity investments had fair values below 70% of amortized cost. During 2020, there were no fixed-maturity securities with an allowance for credit losses. There were 14 fixed-maturity securities that were written down to fair value, due to an intention to be sold, for holdings in the energy, real estate, consumer goods, municipal and technology & electronics sectors. At December 31, 2020, 128 fixed-maturity investments with a total unrealized loss of $10 million were in an unrealized loss position. Of that total, no fixed-maturity investments had fair values below 70% of amortized cost.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements 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, 2020, and ultimately management determines fair value. Financial instruments reported at fair value in our consolidated financial statements are categorized based upon the following characteristics or inputs to the valuation techniques: • Level 1 – Financial assets and liabilities for which inputs are observable and are obtained from reliable quoted prices for identical assets or liabilities in active markets. This is the most reliable fair value measurement and includes, for example, active exchange-traded equity securities. • Level 2 – Financial assets and liabilities for which values are based on quoted prices in markets that are not active or for which values are based on similar assets and liabilities that are actively traded. This also includes pricing models for which the inputs are corroborated by market data. The technique used for the Level 2 fixed-maturity securities is the application of market based modeling. The inputs used for all classes of fixed-maturity securities listed in the table below include relevant market information by asset class, trade activity of like securities, marketplace quotes, benchmark yields, spreads off benchmark yields, interest rates, U.S. Treasury or swap curves, yield to maturity and economic events. Specific to commercial mortgage-backed securities, key inputs also include prepayment and default projections based on past performance of the underlying collateral and current market data. Level 2 fixed-maturity securities are priced by a nationally recognized pricing vendor. The Level 2 nonredeemable preferred equities technique used is the application of market based modeling. The inputs used, similar to those used by the pricing vendor for our fixed-maturity securities, include relevant market information, trade activity of like securities, yield to maturity, corporate action notices and economic events. Level 2 nonredeemable preferred equities are priced by a nationally recognized pricing vendor. • Level 3 – Financial assets and liabilities for which values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Level 3 inputs include the following: ◦ Quotes from brokers or other external sources that are not considered binding; ◦ Quotes from brokers or other external sources where it cannot be determined that market participants would in fact transact for the asset or liability at the quoted price; or ◦ Quotes from brokers or other external sources where the inputs are not deemed observable. The following tables illustrate the fair value hierarchy for those assets measured at fair value on a recurring basis at December 31, 2021 and 2020. We do not have any liabilities carried at fair value. (Dollars in millions) Quoted prices in Significant At December 31, 2021 Significant other Total Fixed maturities, available for sale: Corporate $ — $ 7,497 $ — $ 7,497 States, municipalities and political subdivisions — 5,095 — 5,095 Commercial mortgage-backed — 273 — 273 United States government 123 — — 123 Foreign government — 26 — 26 Government-sponsored enterprises — 8 — 8 Subtotal 123 12,899 — 13,022 Common equities 10,862 — — 10,862 Nonredeemable preferred equities — 453 — 453 Separate accounts taxable fixed maturities — 948 — 948 Top Hat savings plan mutual funds and common 64 — — 64 Total $ 11,049 $ 14,300 $ — $ 25,349 At December 31, 2020 Fixed maturities, available for sale: Corporate $ — $ 6,895 $ — $ 6,895 States, municipalities and political subdivisions — 4,997 — 4,997 Commercial mortgage-backed — 285 — 285 United States government 120 — — 120 Foreign government — 29 — 29 Government-sponsored enterprises — 12 — 12 Subtotal 120 12,218 — 12,338 Common equities 8,541 — — 8,541 Nonredeemable preferred equities — 315 — 315 Separate accounts taxable fixed maturities — 903 — 903 Top Hat savings plan mutual funds and common 51 — — 51 Total $ 8,712 $ 13,436 $ — $ 22,148 We also held Level 1 cash and cash equivalents of $1.139 billion and $900 million at December 31, 2021 and 2020 , respectively. Level 3 assets reported at fair value in our consolidated financial statements are not material, and therefore no further disclosures are provided. Fair Value Disclosure for Assets and Liabilities Not Carried at Fair Value The disclosures below are presented to provide information about the effects of current market conditions on financial instruments that are not reported at fair value in our consolidated financial statements. The following table shows fair values of our note payable and long-term debt: (Dollars in millions) Quoted prices in Significant other Significant Total At December 31, 2021 Note payable $ — $ 54 $ — $ 54 6.900% senior debentures, due 2028 — 34 — 34 6.920% senior debentures, due 2028 — 501 — 501 6.125% senior notes, due 2034 — 510 — 510 Total $ — $ 1,099 $ — $ 1,099 At December 31, 2020 Note payable $ — $ 54 $ — $ 54 6.900% senior debentures, due 2028 — 35 — 35 6.920% senior debentures, due 2028 — 515 — 515 6.125% senior notes, due 2034 — 522 — 522 Total $ — $ 1,126 $ — $ 1,126 Fair value of the note payable was determined based upon the outstanding balance at December 31, 2021 and 2020, because it is short term and tied to a variable interest rate. Fair value of the long-term debt was determined under the fair value measurements and disclosure accounting rules based on market pricing of similar debt instruments that are actively trading. We determine fair value for our debt the same way that we value corporate fixed maturities in our investment portfolio. Fair value can vary with macroeconomic conditions. Regardless of the fluctuations in fair value, the outstanding principal amount of our long-term debt is $793 million at both December 31, 2021 and 2020. None of the long-term debt is encumbered by rating triggers. The note payable and long-term debt were classified as Level 2 as an active market does not exist, but fair value is determined based on observable inputs. The following table shows the fair value of our life policy loans, included in other invested assets: (Dollars in millions) Quoted prices in Significant other Significant Total At December 31, 2021 Life policy loans $ — $ — $ 44 $ 44 At December 31, 2020 Life policy loans $ — $ — $ 49 $ 49 Outstanding principal and interest for these life policy loans totaled $31 million and $33 million at December 31, 2021 and 2020, respectively. To determine the fair value, we make the following significant assumptions: (1) the discount rates used to calculate the present value of expected payments are the risk-free spot rates, as nonperformance risk is minimal; and (2) the loan repayment rate by which policyholders pay off their loan balances is in line with past experience. The following table shows fair value of our deferred annuities and structured settlements included in life policy and investment contract reserves: (Dollars in millions) Quoted prices in Significant other Significant Total At December 31, 2021 Deferred annuities $ — $ — $ 778 $ 778 Structured settlements — 201 — 201 Total $ — $ 201 $ 778 $ 979 At December 31, 2020 Deferred annuities $ — $ — $ 836 $ 836 Structured settlements — 227 — 227 Total $ — $ 227 $ 836 $ 1,063 Recorded reserves for the deferred annuities were $762 million and $761 million at December 31, 2021 and 2020, respectively. Recorded reserves for the structured settlements were $136 million and $145 million at December 31, 2021 and 2020, respectively. Fair values for deferred annuities were calculated based upon internally developed models because active markets and observable inputs do not exist. To determine the fair value, we made the following significant assumptions: (1) the discount rates used to calculate the present value of expected payments are the risk-free spot rates plus an A3 rated bond spread for financial issuers at December 31, 2021 and 2020, to account for nonperformance risk; (2) the rate of interest credited to policyholders is the portfolio net earned interest rate less a spread for expenses and profit; and (3) additional lapses occur when the credited interest rate is exceeded by an assumed competitor credited rate, which is a function of the risk-free rate of the economic scenario being modeled. Fair values for structured settlements were calculated based on internally developed models which assume the discount rates used to calculate the present value of expected payments are the risk-free spot rates plus an A3 rated bond spread for financial issuers at December 31, 2021 and 2020, to account for nonperformance risk. The structured settlements were classified as Level 2 as an active market does not exist, but fair value is based on observable inputs.

Property Casualty Loss And Loss

Property Casualty Loss And Loss Expenses	12 Months Ended
	Dec. 31, 2021
Insurance [Abstract]
Property Casualty Loss And Loss Expenses	Property Casualty Loss and Loss Expenses We use actuarial methods, models, assumptions 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 IBNR claims, as of that date. The actuarial estimate is subject to review and adjustment by an inter-departmental committee that includes actuarial, claims, underwriting, loss prevention and finance management. This committee 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. Our reserving process takes into account known facts and interpretations of circumstances and factors including the type of claim, policy provisions pertaining to each claim, potential subrogation or salvage recoverable, large loss activity and trends, new business activity, judicial decisions, economic conditions, changes in law and regulation and product and underwriting changes. There have been no significant changes in methodologies and assumptions used in calculating loss and loss expense reserves for all years presented. There were no material additional premiums or return premiums accrued for as a result of prior-year effects. Our claims representatives establish case reserves when claims are reported to provide for our unpaid loss and loss expense obligation associated with individual claims. For events designated as natural catastrophes resulting in losses incurred related to direct premiums, we calculate IBNR reserves directly as a result of an estimated claim counts and estimated average dollar amount per claim for each event. Once individual case reserves are established for a catastrophe event, we reduce the IBNR reserves. Our actuarial staff uses generally accepted actuarial methods and models to derive ultimate loss and IBNR reserve estimates. The time interval between a claims occurrence and its settlement is one of the crucial attributes when estimating ultimate losses and IBNR reserves. Due to the uncertainties inherent with loss reserves, our ultimate loss experience could prove better or worse than what our carried reserves reflect. To the extent that reserves are inadequate and are required to be increased, the amount of the increase is a charge in that period, raising our loss and loss expense ratio and reducing earnings. To the extent that reserves are redundant and are required to be released, the amount of the release is a credit in that period, reducing our loss and loss expense ratio and increasing earnings. This table summarizes activity for our consolidated property casualty loss and loss expense reserves: (Dollars in millions) Years ended December 31, 2021 2020 2019 Gross loss and loss expense reserves, January 1 $ 6,677 $ 6,088 $ 5,646 Less reinsurance recoverable 277 342 238 Net loss and loss expense reserves, January 1 6,400 5,746 5,408 Net loss and loss expense reserves related to acquisition of Cincinnati Global at — — 246 Net incurred loss and loss expenses related to: Current accident year 4,024 3,968 3,600 Prior accident years (428) (131) (248) Total incurred 3,596 3,837 3,352 Net paid loss and loss expenses related to: Current accident year 1,379 1,493 1,462 Prior accident years 1,715 1,690 1,798 Total paid 3,094 3,183 3,260 Net loss and loss expense reserves, December 31 6,902 6,400 5,746 Plus reinsurance recoverable 327 277 342 Gross loss and loss expense reserves, December 31 $ 7,229 $ 6,677 $ 6,088 In 2021, 2020 and 2019, the reserve for loss and loss expense in the consolidated balance sheets also included $76 million, $69 million and $59 million, respectively, for certain life and health loss and loss expense reserves. Additional disclosures for reserves related to these health claims are not material and therefore not provided. During 2021, we experienced $428 million of favorable development on prior accident years including $353 million of favorable development in commercial lines, $50 million of favorable development in personal lines and $7 million of unfavorable development in excess and surplus lines. Within commercial lines, we recognized favorable development of $120 million for the commercial casualty line, $97 million for the commercial property line,$66 million for the workers' compensation line and $43 million for the commercial auto line due to reduced uncertainty of prior accident year loss and loss expense for these lines. Within personal lines, we recognized favorable reserve development of $31 million in personal auto and $14 million for the homeowner line of business. During 2020, we experienced $131 million of favorable development on prior accident years including $95 million of favorable development in commercial lines, $18 million of favorable development in personal lines and $7 million of unfavorable development in excess and surplus lines. Within commercial lines, we recognized favorable development of $54 million for the commercial casualty line, $39 million for the workers' compensation line and $16 million for the commercial property line due to reduced uncertainty of prior accident year loss and loss expense for these lines. This was partially offset by unfavorable development of $17 million for the commercial auto line. Within personal lines, we recognized favorable reserve development of $15 million in personal auto and $5 million for the homeowner line of business. During 2019, we experienced $248 million of favorable development on prior accident years including $192 million of favorable development in commercial lines, $27 million of favorable development in personal lines and $11 million of favorable development in excess and surplus lines. Within commercial lines, we recognized favorable development $78 million for the commercial casualty line, $77 million for the workers' compensation line, $25 million for the commercial property line and $6 million for the commercial auto line due to reduced uncertainty of prior accident year loss and loss expense for these lines. Within personal lines, we recognized favorable reserve development of $26 million in personal auto. We recognized unfavorable reserve development of $11 million for the homeowner line of business due primarily to higher-than-anticipated loss development on known claims. Included in our lines of business are asbestos and environmental claims. We carried $88 million and $85 million of net loss and loss expense reserves for asbestos and environmental claims at December 31, 2021 and 2020, respectively. The asbestos and environmental claims amounts for each respective year constituted less than 2.0% of total net loss and loss expense reserves at these year-end dates. We believe our exposure to asbestos and environmental claims is limited, largely because our reinsurance retention was $500,000 or below prior to 1987. We also were predominantly a personal lines company in the 1960s and 1970s. During the 1980s and early 1990s, commercial lines grew as a percentage of our overall business and our exposure to asbestos and environmental claims grew accordingly. Over that period, we included an asbestos and environmental exclusion in almost all policies or endorsed the exclusion to the policies. We have no exposure to asbestos and environmental claims related to our acquisition of Cincinnati Global. We continue to monitor our claims for evidence of material exposure to other mass tort classes but have found no such credible evidence to date. The following table provides a reconciliation of the property casualty incurred losses and allocated loss adjustment expenses (ALAE) development and paid losses and ALAE development information at December 31, 2021. (Dollars in millions) Cumulative incurred losses Cumulative paid losses and ALAE as reported within the triangles, Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance Total liabilities for loss and ALAE, net of reinsurance Reinsurance recoverable on unpaid losses Total liabilities for gross loss and loss expense reserves Commercial casualty $ 5,383 $ 3,146 $ 90 $ 2,327 $ 33 $ 2,360 Workers' compensation 1,923 1,279 301 945 65 1,010 Commercial auto 2,203 1,515 34 722 4 726 Commercial property 3,118 2,698 17 437 46 483 Personal auto 1,802 1,552 10 260 32 292 Homeowner 2,169 1,893 5 281 8 289 Excess and surplus 1,021 496 1 526 21 547 Other lines 1,210 Total liabilities for loss and ALAE reserves 6,917 Unallocated loss adjustment expense reserves 312 Gross loss and loss expense reserves $ 7,229 For all lines of business, the claim counts reported are primarily measured by insurance coverages that are triggered when a loss occurs and a reserve is established. For this purpose, coverages are defined as unique combinations of certain attributes such as line of business and cause of loss. Claims that are opened and closed without payment are included in the reported claim counts. Claim counts are presented on a direct basis only and do not reflect any assumed or ceded reinsurance. In the following tables, commercial casualty, workers' compensation and excess and surplus lines each disclose 10 accident years of loss and ALAE reserves and the cumulative number of reported claims. Commercial auto, commercial property, personal auto and homeowner each disclose five accident years of loss and ALAE reserves and the cumulative number of reported claims consistent with the number of years for which claims incurred typically remain outstanding. Commercial Casualty The following table shows the commercial casualty incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of Accident Unaudited Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 $ 466 $ 414 $ 417 $ 394 $ 394 $ 404 $ 399 $ 397 $ 397 $ 397 $ 10 18 2013 448 443 431 416 413 407 391 386 385 17 20 2014 503 496 479 476 479 465 469 466 22 21 2015 533 526 529 516 508 502 504 42 21 2016 563 574 557 555 554 538 58 22 2017 610 597 577 571 555 68 21 2018 650 641 622 588 101 22 2019 672 643 607 141 20 2020 674 629 307 14 2021 714 492 10 Total $ 5,383 Cumulative paid losses and ALAE, net of reinsurance 2012 $ 27 $ 88 $ 170 $ 232 $ 288 $ 330 $ 346 $ 364 $ 374 $ 383 2013 35 90 159 232 286 312 337 348 355 2014 34 97 172 287 338 390 409 421 2015 38 108 200 287 362 404 424 2016 46 126 228 331 395 434 2017 48 122 234 320 392 2018 44 148 253 345 2019 39 134 259 2020 33 102 2021 31 Total 3,146 All outstanding liabilities before 2012, net of reinsurance 90 Liabilities for loss and ALAE, net of reinsurance $ 2,327 The following table shows the average annual percentage payout of incurred losses for the commercial casualty line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 6 7 8 9 10 Average annual percentage payout 7.2% 14.4% 18.8% 18.1% 13.2% 8.8% 4.6% 3.4% 2.3% 1.7% Workers’ Compensation The following table shows the workers’ compensation incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of Accident Unaudited Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 $ 265 $ 245 $ 234 $ 220 $ 213 $ 211 $ 209 $ 208 $ 207 $ 209 $ 20 21 2013 264 246 221 212 208 205 202 201 204 17 20 2014 261 233 214 203 201 198 197 202 17 19 2015 246 220 208 195 179 173 173 26 17 2016 230 218 206 188 183 183 24 16 2017 218 208 190 183 172 31 15 2018 222 207 199 186 34 15 2019 224 215 202 50 14 2020 204 190 68 11 2021 202 72 10 Total $ 1,923 Cumulative paid losses and ALAE, net of reinsurance 2012 $ 62 $ 121 $ 147 $ 162 $ 171 $ 175 $ 178 $ 180 $ 182 $ 183 2013 61 119 144 157 164 168 170 174 177 2014 56 110 134 148 157 162 165 168 2015 47 93 115 129 134 137 139 2016 46 97 119 131 141 146 2017 45 88 106 114 119 2018 48 95 115 127 2019 49 94 115 2020 37 68 2021 37 Total 1,279 All outstanding liabilities before 2012, net of reinsurance 301 Liabilities for loss and ALAE, net of reinsurance $ 945 The following table shows the average annual percentage payout of incurred losses for the workers’ compensation line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 6 7 8 9 10 Average annual percentage payout 25.3% 25.3% 11.6% 6.5% 3.9% 2.3% 1.4% 1.3% 1.3% 0.3% Commercial Auto The following table shows the commercial auto incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2017 2018 2019 2020 2021 2017 $ 451 $ 441 $ 443 $ 444 $ 449 $ 8 51 2018 453 442 442 440 15 49 2019 452 451 453 34 46 2020 424 391 86 36 2021 470 154 36 Total $ 2,203 Cumulative paid losses and ALAE, net of reinsurance 2017 $ 187 $ 266 $ 334 $ 381 $ 411 2018 184 266 337 378 2019 183 268 333 2020 154 214 2021 179 Total 1,515 All outstanding liabilities before 2017, net of reinsurance 34 Liabilities for loss and ALAE, net of reinsurance $ 722 The following table shows the average annual percentage payout of incurred losses for the commercial auto line of business. Commercial auto includes both physical damage and liability losses. A majority of the incurred losses paid after year 2 are the result of liability losses. Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 Average annual percentage payout 40.3% 17.7% 15.2% 9.8% 6.7% Commercial Property The following table shows the commercial property incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2017 2018 2019 2020 2021 2017 $ 587 $ 560 $ 556 $ 565 $ 572 $ 2 18 2018 630 603 590 597 6 18 2019 621 606 600 9 17 2020 855 742 43 23 2021 607 49 13 Total $ 3,118 Cumulative paid losses and ALAE, net of reinsurance 2017 $ 395 $ 522 $ 547 $ 560 $ 567 2018 386 559 576 589 2019 413 561 579 2020 489 637 2021 326 Total 2,698 All outstanding liabilities before 2017, net of reinsurance 17 Liabilities for loss and ALAE, net of reinsurance $ 437 The following table shows the average annual percentage payout of incurred losses for the commercial property line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 Average annual percentage payout 64.4% 24.0% 3.4% 2.2% 1.3% Personal Auto The following table shows the personal auto incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2017 2018 2019 2020 2021 2017 $ 412 $ 394 $ 391 $ 393 $ 393 $ 1 109 2018 424 398 395 398 — 111 2019 399 383 380 2 102 2020 305 281 18 71 2021 350 51 75 Total $ 1,802 Cumulative paid losses and ALAE, net of reinsurance 2017 $ 256 $ 324 $ 358 $ 374 $ 383 2018 262 327 358 379 2019 250 314 346 2020 186 225 2021 219 Total 1,552 All outstanding liabilities before 2017, net of reinsurance 10 Liabilities for loss and ALAE, net of reinsurance $ 260 The following table shows the average annual percentage payout of incurred losses for the personal auto line of business. Personal auto includes both physical damage and liability losses. A majority of the incurred losses paid after year 2 are the result of liability losses. Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 Average annual percentage payout 65.1% 16.1% 8.3% 4.8% 2.2% Homeowner The following table shows the homeowner incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2017 2018 2019 2020 2021 2017 $ 356 $ 383 $ 385 $ 387 $ 389 $ 1 27 2018 370 386 387 388 5 24 2019 432 421 422 7 22 2020 497 475 16 23 2021 495 95 17 Total $ 2,169 Cumulative paid losses and ALAE, net of reinsurance 2017 $ 277 $ 356 $ 378 $ 384 $ 386 2018 268 368 378 381 2019 303 391 407 2020 326 434 2021 285 Total 1,893 All outstanding liabilities before 2017, net of reinsurance 5 Liabilities for loss and ALAE, net of reinsurance $ 281 The following table shows the average annual percentage payout of incurred losses for the homeowner line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 Average annual percentage payout 67.6% 22.4% 4.0% 1.2% 0.5% Excess and Surplus Lines The following table shows the excess and surplus lines incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 $ 67 $ 56 $ 49 $ 40 $ 37 $ 36 $ 35 $ 36 $ 35 $ 35 $ — 1 2013 74 64 54 45 42 41 41 41 40 1 2 2014 95 82 75 64 60 59 59 58 3 2 2015 96 81 73 67 65 66 65 4 2 2016 93 87 84 82 90 91 8 3 2017 104 95 95 94 94 13 3 2018 116 109 110 108 23 3 2019 137 135 141 41 3 2020 172 172 78 3 2021 217 129 3 Total $ 1,021 Cumulative paid losses and ALAE, net of reinsurance 2012 $ 9 $ 15 $ 19 $ 25 $ 29 $ 31 $ 32 $ 33 $ 34 $ 34 2013 7 12 20 27 32 34 37 39 39 2014 9 17 27 37 43 48 51 53 2015 8 19 29 41 51 54 56 2016 10 21 39 51 62 75 2017 11 23 41 57 68 2018 11 26 50 62 2019 13 34 55 2020 16 37 2021 17 Total 496 All outstanding liabilities before 2012, net of reinsurance 1 Liabilities for loss and ALAE, net of reinsurance $ 526 The following table shows the average annual percentage payout of incurred losses for the excess and surplus lines insurance segment. Excess and surplus lines consist mostly of commercial casualty and commercial property coverages. A majority of the incurred losses paid after year 2 are the result of commercial casualty losses. Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 6 7 8 9 10 Average annual percentage payout 13.1% 13.9% 17.6% 15.6% 12.3% 8.4% 4.3% 3.0% 1.1% 0.4%

Life Policy And Investment Cont

Life Policy And Investment Contract Reserves	12 Months Ended
	Dec. 31, 2021
Liability for Future Policy Benefit, before Reinsurance [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 and future 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) At December 31, 2021 2020 Life policy reserves: Ordinary/traditional life $ 1,376 $ 1,301 Other 52 52 Subtotal 1,428 1,353 Investment contract reserves: Deferred annuities 762 761 Universal life 679 647 Structured settlements 136 145 Other 9 9 Subtotal 1,586 1,562 Total life policy and investment contract reserves $ 3,014 $ 2,915

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2021
Deferred Costs [Abstract]
Deferred Policy 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) Years ended December 31, 2021 2020 2019 Property casualty: Deferred policy acquisition costs asset, January 1 $ 542 $ 512 $ 464 Capitalized deferred policy acquisition costs 1,211 1,087 1,034 Amortized deferred policy acquisition costs (1,151) (1,057) (986) Deferred policy acquisition costs asset, December 31 $ 602 $ 542 $ 512 Life: Deferred policy acquisition costs asset, January 1 $ 263 $ 262 $ 274 Capitalized deferred policy acquisition costs 59 58 61 Amortized deferred policy acquisition costs (46) (49) (48) Shadow deferred policy acquisition costs 27 (8) (25) Deferred policy acquisition costs asset, December 31 $ 303 $ 263 $ 262 Consolidated: Deferred policy acquisition costs asset, January 1 $ 805 $ 774 $ 738 Capitalized deferred policy acquisition costs 1,270 1,145 1,095 Amortized deferred policy acquisition costs (1,197) (1,106) (1,034) Shadow deferred policy acquisition costs 27 (8) (25) Deferred policy acquisition costs asset, December 31 $ 905 $ 805 $ 774 No premium deficiencies were recorded in the consolidated statements of income in 2021, 2020 and 2019, as the sum of the anticipated loss and loss expenses, policyholder dividends and unamortized deferred acquisition expenses did not exceed the related unearned premiums and anticipated investment income.

Note Payable

Note Payable	12 Months Ended
	Dec. 31, 2021
Notes Payable, Current [Abstract]
Note Payable	Note Payable We have one unsecured revolving credit facility through multiple commercial banks which expires on February 4, 2026. The borrowing capacity is $300 million with an additional $300 million accordion feature. Terms and conditions of the agreement include a debt-to-total capital maximum of 35%. We had no compensating balance requirements on short-term debt for either 2021 or 2020. At December 31, 2021 and 2020, $54 million was drawn on the line of credit. The interest rate charged on our borrowings on this credit agreement ranged from 0.97% to 1.03% during 2021 and ranged from 1.03% to 4.25% during 2020. In addition, we have letters of credit related to our Cincinnati Re and Cincinnati Global operations with no amounts drawn at December 31, 2021 and 2020.

Long-Term Debt And Lease Obliga

Long-Term Debt And Lease Obligation	12 Months Ended
	Dec. 31, 2021
Long-term Debt and Lease Obligation [Abstract]
Long-Term Debt and Lease Obligation Text Block	Long-Term Debt and Lease Obligations This table summarizes the principal amounts of our long-term debt excluding unamortized discounts, none of which are encumbered by rating triggers: (Dollars in millions) Book value Principal amount Interest rate Year of At December 31, At December 31, 2021 2020 2021 2020 6.900% 1998 Senior debentures, due 2028 $ 27 $ 27 $ 28 $ 28 6.920% 2005 Senior debentures, due 2028 391 391 391 391 6.125% 2004 Senior notes, due 2034 371 370 374 374 Total $ 789 $ 788 $ 793 $ 793 The finance lease term for equipment and autos is three $54 million and $57 million in 2021 and 2020, respectively. Below are the lease obligations we expect to pay through years 2027 and thereafter including $3 million of interest for finance and operating leases: (Dollars in millions) Years ended December 31, 2022 2023 2024 2025 2026 2027 and thereafter Finance lease obligations $ 14 $ 12 $ 8 $ 6 $ 3 $ 2 Operating lease obligations 4 2 2 2 1 1 Total lease obligations $ 18 $ 14 $ 10 $ 8 $ 4 $ 3 The following table provides lease cost and other information: (Dollars in millions) Years ended December 31, 2021 2020 2019 Lease cost: Finance lease cost $ 15 $ 15 $ 9 Operating lease cost 4 4 4 Total lease cost $ 19 $ 19 $ 13 Other information finance leases: Finance cash outflows $ 15 $ 15 $ 15 Weighted average discount rate 2.46 % 2.62 % 2.96 % Weighted average remaining lease term in years 3.45 3.67 3.65 Other information operating leases: Operating cash outflows $ 4 $ 8 $ 8 Weighted average discount rate 2.86 % 3.65 % 3.69 % Weighted average remaining lease term in years 4.37 4.84 4.71

Shareholders' Equity And Divide

Shareholders' Equity And Dividend Restrictions	12 Months Ended
	Dec. 31, 2021
Shareholders Equity And Dividend Restrictions [Abstract]
Shareholders' Equity And Dividend Restrictions	Shareholders’ Equity and Dividend Restrictions Declared cash dividends per share were $2.52 , $2.40 and $2.24 for the years ended December 31, 2021, 2020 and 2019, respectively. Our lead insurance subsidiary, The Cincinnati Insurance Company, paid dividends to the parent company of $583 million in 2021, $550 million in 2020 and $625 million in 2019. State regulatory requirements restrict the dividends insurance subsidiaries can pay. Generally, the most our lead insurance subsidiary can pay without prior regulatory approval is the greater of 10% of statutory capital and surplus or 100% of statutory net income for the prior calendar year. Dividends exceeding these limitations may be paid only with approval of the insurance department of the domiciliary state. During 2022, the total that our lead insurance subsidiary may pay in dividends is approximately $929 million. Dividend payments from Cincinnati Global to the parent company are subject to regulation by U.K. law. Cincinnati Global paid no dividends to the parent company in 2021, 2020 or 2019. Accumulated Other Comprehensive Income The table below shows beginning and end of year accumulated other comprehensive income (AOCI) for investments, pension obligations, life deferred acquisition costs, life policy reserves and other. The changes from the beginning of year to the end of year are the result of changes to other comprehensive income or loss (OCI). (Dollars in millions) 2021 2020 2019 Before Income Net Before Income Net Before Income Net Investments: AOCI, January 1 $ 1,026 $ 215 $ 811 $ 590 $ 123 $ 467 $ 46 $ 9 $ 37 OCI before investment gains and losses, net, recognized in net income (204) (44) (160) 371 78 293 545 115 430 Investment gains and losses, net, recognized in net income (30) (6) (24) 65 14 51 (1) (1) — OCI (234) (50) (184) 436 92 344 544 114 430 AOCI, December 31 $ 792 $ 165 $ 627 $ 1,026 $ 215 $ 811 $ 590 $ 123 $ 467 Pension obligations: AOCI, January 1 $ (41) $ (7) $ (34) $ (9) $ — $ (9) $ (16) $ (2) $ (14) OCI excluding amortization recognized in net income 62 12 50 (35) (7) (28) 6 2 4 Amortization recognized in net income 6 2 4 3 — 3 1 — 1 OCI 68 14 54 (32) (7) (25) 7 2 5 AOCI, December 31 $ 27 $ 7 $ 20 $ (41) $ (7) $ (34) $ (9) $ — $ (9) Life deferred acquisition costs, life policy reserves and other: AOCI, January 1 $ (10) $ (2) $ (8) $ (13) $ (3) $ (10) $ (1) $ — $ (1) OCI before investment gains and losses, net, recognized in net income 11 2 9 3 1 2 (15) (3) (12) Investment gains and losses, net, recognized in net income — — — — — — 3 — 3 OCI 11 2 9 3 1 2 (12) (3) (9) AOCI, December 31 $ 1 $ — $ 1 $ (10) $ (2) $ (8) $ (13) $ (3) $ (10) Summary of AOCI: AOCI, January 1 $ 975 $ 206 $ 769 $ 568 $ 120 $ 448 $ 29 $ 7 $ 22 Investments OCI (234) (50) (184) 436 92 344 544 114 430 Pension obligations OCI 68 14 54 (32) (7) (25) 7 2 5 Life deferred acquisition costs, life policy reserves and other OCI 11 2 9 3 1 2 (12) (3) (9) Total OCI (155) (34) (121) 407 86 321 539 113 426 AOCI, December 31 $ 820 $ 172 $ 648 $ 975 $ 206 $ 769 $ 568 $ 120 $ 448 Investments gains and losses, net, and life deferred acquisition costs, life policy reserves and other investment gains and losses, net, are recorded in the investment gains and losses, net, line item in the consolidated statements of income. Amortization on pension obligations is recorded in the insurance losses and contract holders' benefits and underwriting, acquisition and insurance expenses line items in the consolidated statements of income.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2021
Reinsurance Disclosures [Abstract]
Reinsurance	Reinsurance Primary components of our property casualty reinsurance assumed operations include involuntary and voluntary assumed as well as contracts from our reinsurance assumed operations, known as Cincinnati Re. 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. The table below summarizes our consolidated property casualty insurance net written premiums, earned premiums and incurred loss and loss expenses: (Dollars in millions) Years ended December 31, 2021 2020 2019 Direct written premiums $ 6,229 $ 5,756 $ 5,477 Assumed written premiums 515 335 244 Ceded written premiums (265) (227) (205) Net written premiums $ 6,479 $ 5,864 $ 5,516 Direct earned premiums $ 5,996 $ 5,623 $ 5,340 Assumed earned premiums 443 285 199 Ceded earned premiums (255) (217) (205) Earned premiums $ 6,184 $ 5,691 $ 5,334 Direct incurred loss and loss expenses $ 3,352 $ 3,699 $ 3,402 Assumed incurred loss and loss expenses 366 184 117 Ceded incurred loss and loss expenses (122) (46) (167) Incurred loss and loss expenses $ 3,596 $ 3,837 $ 3,352 Our life insurance company purchases reinsurance for protection of a portion of risks that are written. Primary components of our life reinsurance program include individual mortality coverage, aggregate catastrophe and accidental death coverage in excess of certain deductibles. The table below summarizes our consolidated life insurance earned premiums and contract holders' benefits incurred: (Dollars in millions) Years ended December 31, 2021 2020 2019 Direct earned premiums $ 374 $ 362 $ 341 Ceded earned premiums (76) (73) (71) Earned premiums $ 298 $ 289 $ 270 Direct contract holders' benefits incurred $ 423 $ 359 $ 359 Ceded contract holders' benefits incurred (83) (62) (73) Contract holders' benefits incurred $ 340 $ 297 $ 286 The ceded benefits incurred can vary depending on the type of life insurance policy held and the year the policy was issued.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The significant components of deferred tax assets and liabilities included in the consolidated balance sheets at December 31 were as follows: (Dollars in millions) At December 31, 2021 2020 Deferred tax assets: Unearned premiums $ 131 $ 119 Loss and loss expense reserves 92 81 Net operating loss on international earnings 34 26 Deferred international earnings 31 45 Other 50 41 Deferred tax assets before valuation allowance 338 312 Valuation allowance for international operations 53 56 Deferred tax assets net of valuation allowance 285 256 Deferred tax liabilities: Investment gains and other, net 1,684 1,240 Deferred acquisition costs 155 143 Life policy reserves 116 121 Investments 38 13 Other 36 38 Total gross deferred tax liabilities 2,029 1,555 Net deferred income tax liability $ 1,744 $ 1,299 Deferred tax assets and liabilities reflect temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount recognized for tax purposes. Deferred tax assets are reduced by a valuation allowance when management believes it is more likely than not that some, or all, of the deferred tax assets will not be realized. After considering all positive and negative evidence of taxable income in the carryback and carryforward periods as permitted by law, we believe it is more likely than not that all of the deferred tax assets on our U.S. domestic operations will be realized. As a result, we have no valuation allowance at December 31, 2021 and 2020 for our U.S. domestic operations. As more fully discussed below, we do carry a valuation allowance on the deferred tax assets related to Cincinnati Global. For financial reporting purposes, income (loss) before income taxes includes the following components: (Dollars in millions) For the years ended December 31, 2021 2020 2019 United States $ 3,644 $ 1,521 $ 2,440 International 26 (22) 32 Total income before income taxes $ 3,670 $ 1,499 $ 2,472 The provision for income taxes consists of: (Dollars in millions) For the years ended December 31, 2021 2020 2019 Provision (benefit) for income taxes: Current – United States federal $ 248 $ 147 $ 137 International (1) — (5) Total current 247 147 132 Deferred – United States federal 477 136 338 International — — 5 Total deferred 477 136 343 Total provision for income taxes $ 724 $ 283 $ 475 The differences between the 21% statutory federal income tax rate and our effective income tax rate were as follows: (Dollars in millions) Years ended December 31, 2021 2020 2019 Tax at statutory rate: $ 771 21.0 % $ 315 21.0 % $ 519 21.0 % Increase (decrease) resulting from: Tax-exempt income from municipal bonds (20) (0.5) (20) (1.3) (19) (0.8) Dividend received exclusion (20) (0.5) (17) (1.1) (16) (0.6) Other (7) (0.3) 5 0.3 (9) (0.4) Provision for income taxes $ 724 19.7 % $ 283 18.9 % $ 475 19.2 % The provision for federal income taxes is based upon the filing of a consolidated income tax return for the company and its domestic subsidiaries within the United States. At December 31, 2021 and 2020 we had no operating or capital loss carryforwards in the United States. As more fully discussed below, Cincinnati Global, has operating loss carryforwards in the United Kingdom. As more fully discussed in Note 1, Summary of Significant Accounting Policies, the COVID-19 pandemic outbreak began in mid-March 2020. In response to the pandemic, various stimulus legislation was enacted in 2021 and 2020. We have evaluated the pandemic-related legislation enacted in 2021 and 2020 and believe any impact to our financial statements, as a result of such legislation, is immaterial. Unrecognized Tax Benefits At December 31, 2021, 2020 and 2019, we had a gross unrecognized tax benefit of $34 million . Additionally, there was no change in the amount for 2021, 2020 or 2019. The unrecognized tax benefit liability is carried in other liabilities in the consolidated balance sheets. If recognized, the unrecognized tax benefit liability would affect the effective tax rate in the period of the release. Although no interest and penalties currently are accrued, if incurred, they would be recognized as a component of income tax expense. It is reasonably possible that within the next 12 months, our unrecognized tax benefit could change when the IRS completes its examination of the tax year ended December 31, 2018. The statute of limitations for federal tax purposes has closed for tax years ended December 31, 2016 and earlier. However, as a result of certain net operating loss carryback claims we have filed related to the tax year ended December 31, 2017, the IRS has a limited ability to assess tax for the 2015 tax year. In 2019, the IRS began its examination of the tax year ended December 31, 2017 and they have expanded their scope to include tax year ended December 31, 2018. At this time, no adjustments have been proposed. In addition to our IRS filings, we file income tax returns with immaterial amounts in various state jurisdictions and record these amounts in our provision for income taxes for both current and deferred taxes. The statute of limitations for state income tax purposes has closed for tax years ended December 31, 2017 and earlier. Cincinnati Global operates in the United Kingdom and as such, is subject to tax in that jurisdiction. The statute of limitations for tax return review by Her Majesty’s Revenue and Customs (HMRC) has closed for tax years ended December 31, 2019 and earlier. There are currently no tax returns under review by HMRC. Income taxes paid in our consolidated statements of cash flows are shown net of refunds received. We received no refunds in either 2021 or 2020 and $94 million in 2019. Cincinnati Global Cincinnati Global's operating results for the year ended December 31, 2021, decreased their net deferred assets by $3 million with an offsetting decrease of $3 million to their valuation allowance. At December 31, 2021, Cincinnati Global had a net deferred tax asset of $53 million and an offsetting valuation allowance of $53 million. Deferred tax assets are reduced by a valuation allowance when management believes it is more likely than not that some, or all, of the deferred tax assets will not be realized. After considering all positive and negative evidence, we believe it was appropriate to set up a valuation allowance for purposes of our opening Cincinnati Global balance sheet and is appropriate to carry a valuation allowance at December 31, 2021, 2020 and 2019. The following is a tabular reconciliation of the total amounts of our Cincinnati Global valuation allowance. (Dollars in millions) Years ended December 31, 2021 2020 2019 Valuation allowance, January 1 $ 56 $ 41 $ — Acquisition accounting amount — — 55 Current year operations (3) 15 (14) Valuation allowance, December 31 $ 53 $ 56 $ 41 At December 31, 2021, and 2020, Cincinnati Global had operating loss carryforwards in the United States of $8 million and $26 million and in the United Kingdom of $130 million and $108 million , respectively. These Cincinnati Global losses can only be utilized within the Cincinnati Global group in both the United States and in the United Kingdom and cannot offset the income of our domestic operations in the United States.

Net Income Per Common Share

Net Income Per Common Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Income Per Common Share	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) Years ended December 31, 2021 2020 2019 Numerator: Net income—basic and diluted $ 2,946 $ 1,216 $ 1,997 Denominator: Basic weighted-average common shares outstanding 161.0 161.2 163.2 Effect of share-based awards: Stock options 1.1 0.7 1.2 Nonvested shares 0.6 0.5 0.7 Diluted weighted-average shares 162.7 162.4 165.1 Earnings per share: Basic $ 18.29 $ 7.55 $ 12.24 Diluted 18.10 7.49 12.10 Number of anti-dilutive share-based awards 0.8 1.4 —

Employee Retirement Benefits

Employee Retirement Benefits	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee Retirement Benefits	Employee Retirement Benefits We sponsor a qualified defined benefit pension plan that we closed entry into for new associates as of June 30, 2008, and only participants 40 years of age or older as of August 31, 2008, could elect to continue to participate. During 2008, we changed the form of retirement benefit we offer some associates to a company match on contributions to a 401(k) plan as further explained below. For participants remaining in the pension plan, we continue to fund future benefit obligations. Benefits for the defined benefit pension plan are based on years of credited service and compensation level. Contributions are based on the prescribed method defined in the Pension Protection Act. Our net periodic benefit cost is based on certain actuarial assumptions and also is composed of several components that are determined using the projected unit credit actuarial cost method. The qualified plan has been amended to allow for distribution of vested balances to terminated participants. We sponsor a defined contribution plan (401(k) plan) for eligible associates with matching company contributions totaling $22 million, $22 million and $19 million during the years 2021, 2020 and 2019, respectively. Associates who are not accruing benefits under the pension plan are eligible to receive the company match of up to 6% of cash compensation. Participants vest in the company match for the 401(k) plan after three years of eligible service. We maintain a supplemental executive retirement plan (SERP) with a benefit obligation of $9 million at year-end 2021 and $10 million at year-end 2020, which is included in the projected benefit obligation. The company also makes available to a select group of associates the CFC Top Hat Savings Plan, a nonqualified deferred compensation plan, which had a fair value of $64 million and $51 million at December 31, 2021 and 2020, respectively. Company matching contributions to the CFC Top Hat Savings Plan totaled approximately $1 million for the years 2021, 2020 and 2019, respectively. Defined Benefit Pension Plan Assumptions We evaluate our pension plan assumptions annually and update them as necessary. This is a summary of the weighted-average assumptions used to determine our benefit obligations at December 31 for the plans: Qualified Pension Plan SERP 2021 2020 2021 2020 Discount rate 2.97 % 2.68 % 2.90 % 2.52 % Rate of compensation increase 2.25-3.25 2.25-3.25 2.25-3.25 2.25-3.25 To determine the discount rate for each plan, a theoretical settlement portfolio of high-quality rated corporate bonds was chosen to provide payments approximately matching the plan’s projected benefit payments. A single interest rate for each plan was determined resulting in a discounted value of the plan's benefit payments that equates to the market value of the selected bonds. The discount rate is reflective of current market interest rate conditions and our plan's liability characteristics. Based on this analysis, we increased the rate from the prior year by 0.29 percentage points for the qualified pension plan and by 0.38 percentage points for the SERP. Compensation increase assumptions reflect anticipated rates of inflation, real return on wage growth and merit and promotional increases. The mortality assumption is updated annually to reflect the updated mortality scales. The Pri-2012 tables with Scale MP-2021, Scale MP-2020, and Scale MP-2019 were used for the years 2021, 2020, and 2019, respectively. The updated mortality table did not have a significant impact on our consolidated financial statements as our qualified plan assumes the majority of benefits will be paid in the form of lump sums. This is a summary of the weighted-average assumptions used to determine our net periodic benefit cost for the plans: Qualified Pension Plan SERP 2021 2020 2019 2021 2020 2019 Discount rate 2.68 % 3.40 % 4.34 % 2.52 % 3.33 % 4.25 % Expected return on plan assets 7.00 7.00 7.00 n/a n/a n/a Rate of compensation increase 2.25-3.25 2.25-3.25 2.25-3.25 2.25-3.25 2.25-3.25 2.25-3.25 The discount rate was decreased by 0.72 percentage points for the qualified pension plan and 0.81 percentage points for the SERP due to market interest rate conditions at the beginning of 2021. The discount rate assumptions for our benefit obligation generally track with high-quality rated corporate bond yields chosen in our theoretical settlement portfolio, and yearly adjustments reflect any changes to those bond yields. We believe the expected return on plan assets is representative of the expected long-term rate of return on these assets, which is consistent with 2021 expectations of interest rates and based partially on the fact that the plan’s common stock holdings pay dividends. We review historical actual return on plan assets when determining our expected long-term rate of return. Total portfolio return for 2021 was 24.5% and for 2020 was 11.4%. Our compensation increase assumptions in 2021 reflect anticipated rates of inflation, real return on wage growth and merit and promotional increases. Benefit obligation activity using an actuarial measurement date for our qualified pension plan and SERP at December 31 follows: (Dollars in millions) At December 31, 2021 2020 Change in projected benefit obligation: Benefit obligation, January 1 $ 387 $ 350 Service cost 10 9 Interest cost 10 12 Actuarial (gain) loss (5) 51 Benefits paid (41) (35) Other 1 — Projected benefit obligation, December 31 $ 362 $ 387 Change in plan assets: Fair value of plan assets, January 1 $ 357 $ 354 Actual return on plan assets 78 34 Employer contribution 3 4 Benefits paid (41) (35) Fair value of plan assets, December 31 $ 397 $ 357 Funded status, December 31 $ 35 $ (30) Accumulated benefit obligation $ 338 $ 360 Our funded status for 2021 compared to 2020 improved primarily due to a higher return on plan assets and increases in actuarial gain from increases in discount rates. Effective January 1, 2021, the lump sum basis was changed from a Pension Benefit Guaranty Corporation (PBGC) rate, which is no longer being published by the PBGC after December 31, 2020, and mortality rates based on GAM83 tables with minor adjustments, to Internal Revenue Code (IRC) Section 417(e) interest rates and IRC Section 417(e) mortality rates, updated annually and projected into the future. The lump sum annual update resulted in an immaterial change at December 31, 2021, but the basis change resulted in an increase to our actuarial loss at December 31, 2020. A reconciliation follows of the funded status for our qualified plan and SERP at the end of the measurement period to the amounts recognized in the consolidated balance sheets at December 31: (Dollars in millions) At December 31, 2021 2020 Pension amounts recognized in the consolidated balance sheets: Other assets (liability) $ 35 $ (30) Total $ 35 $ (30) Pension amounts recognized in accumulated other comprehensive income: Net actuarial (gain) loss $ (27) $ 41 Total $ (27) $ 41 Below are the components of our net periodic benefit cost, as well as other changes in plan assets and benefit obligations recognized in other comprehensive income for our qualified plan and SERP at December 31: (Dollars in millions) Years ended December 31, 2021 2020 2019 Net periodic benefit cost: Service cost $ 10 $ 9 $ 8 Non-service costs (benefit): Interest cost 10 12 13 Expected return on plan assets (21) (21) (20) Amortization of actuarial loss and prior service cost 6 3 1 Other 1 3 1 Net periodic benefit cost $ 6 $ 6 $ 3 Other changes in plan assets and benefit obligations recognized in other Current year actuarial (gain) loss $ (62) $ 38 $ (5) Amortization of actuarial loss (7) (6) (2) Current year prior service cost 1 — — Total recognized in other comprehensive (income) loss $ (68) $ 32 $ (7) Total recognized in net periodic benefit cost and other comprehensive $ (62) $ 38 $ (4) The 2021 change in the amount recognized in other comprehensive income from 2020 is largely due to changes in the actuarial gain resulting from actual return on plan assets being greater than expected and increases in discount rates. Service costs and non-service costs (benefit) are allocated in the same proportion primarily to underwriting, acquisition and insurance expenses line item with the remainder allocated to the insurance losses and contract holders' benefits line item on the consolidated statements of income for 2021, 2020 and 2019. Defined Benefit Pension Plan Assets The pension plan assets are managed to maximize total return over the long term while providing sufficient liquidity and current return to satisfy the cash flow requirements of the plan. The plan’s day-to-day investment decisions are managed by our internal investment department; however, overall investment strategies are discussed with our employee benefits committee. Our investment strategy is to weight our portfolio towards large-cap, high-quality, dividend-growing equities that we have historically favored. As our plan matures and interest rates normalize, we expect a greater allocation to fixed-income securities to better align asset and liability market risks. Our fixed-maturity bond portfolio is investment grade. The plan does not engage in derivative transactions. Excluding cash, during 2021 we held approximately 87% of our pension portfolio in domestic common equity investments. The remainder of the portfolio consisted of 8% in United States government fixed-maturity investments, 3% in domestic corporate fixed-maturity investments and 2% in states, municipalities and taxable political subdivisions fixed-maturity investments. Our common equity portfolio consisted of 32% in the information technology sector, 20% in the financial sector, 13% in the healthcare sector, and 12% in the industrial sector, at year-end 2021. No additional sectors accounted for 10% or more of our common equity portfolio balance at year-end 2021. Investments in securities are valued based on the fair value hierarchy outlined in Note 3, Fair Value Measurements. The pension plan did not have any liabilities carried at fair value during the years ended December 31, 2021 and 2020. The following table shows the fair value hierarchy for those assets measured at fair value on a recurring basis at December 31, 2021 and 2020. Excluded from the table below is cash on hand of $16 million and $31 million at December 31, 2021 and 2020, respectively. (Dollars in millions) Quoted prices in Significant other Significant Total At December 31, 2021 Fixed maturities, available for sale: United States government $ 31 $ — $ — $ 31 Corporate — 11 — 11 States, municipalities and political subdivisions — 7 — 7 Total fixed maturities, available for sale 31 18 — 49 Common equities 332 — — 332 Total $ 363 $ 18 $ — $ 381 At December 31, 2020 Fixed maturities, available for sale: United States government $ 31 $ — $ — $ 31 Corporate — 20 — 20 States, municipalities and political subdivisions — 9 — 9 Total fixed maturities, available for sale 31 29 — 60 Common equities 266 — — 266 Total $ 297 $ 29 $ — $ 326 Our pension plan assets included 202,337 shares of the company’s common stock at both December 31, 2021 and 2020, which had a fair value of $23 million and $18 million at December 31, 2021 and 2020, respectively. The defined benefit pension plan did not purchase any of our common stock during 2021 or 2020. The defined benefit pension plan did not sell any shares during 2021 and sold 29,776 shares of our common stock during 2020. The company paid less than $1 million in both 2021 and 2020 in cash dividends on our common stock to the pension plan. We estimate $6 million of benefit payments from the SERP during 2022. We expect to make the following benefit payments for our qualified plan and SERP, reflecting expected future service: (Dollars in millions) Years ended December 31, 2022 2023 2024 2025 2026 2027 - 2031 Expected future benefit payments $ 29 $ 25 $ 27 $ 29 $ 34 $ 162

Statutory Accounting Informatio

Statutory Accounting Information	12 Months Ended
	Dec. 31, 2021
Staturory Accounting Information [Abstract]
Statutory Accounting Information	Statutory Accounting Information Insurance companies’ statutory financial statements are presented on the basis of accounting practices prescribed or permitted by applicable state insurance departments of domicile. Insurance companies use statutory accounting practices (SAP) as recognized by various states. We have adopted the National Association of Insurance Commissioners’ (NAIC) Accounting Practices and Procedures manual, version effective January 1, 2001, and updates through the current year as a component of prescribed or permitted practices by laws of the state of domicile. The primary differences between SAP and GAAP include the valuation of investment gains and losses, expensing of policy acquisition costs, actuarial assumptions for life insurance reserves and deferred income taxes based on differences in statutory and taxable income. Statutory net income and capital and surplus are determined in accordance with SAP prescribed or permitted by insurance regulatory authorities for five legal entities, our lead insurance subsidiary and its four insurance subsidiaries. Statutory capital and surplus for our insurance subsidiary, The Cincinnati Insurance Company, includes capital and surplus of its four insurance subsidiaries. All capital and surplus amounts exceed statutory risk-based capital requirements. The statutory net income and statutory capital and surplus are presented below: (Dollars in millions) Net income Capital and surplus Years ended December 31, At December 31, 2021 2020 2019 2021 2020 The Cincinnati Insurance Company $ 929 $ 466 $ 558 $ 7,247 $ 5,838 The Cincinnati Casualty Company 15 14 13 500 456 The Cincinnati Indemnity Company 5 3 3 126 115 The Cincinnati Specialty Underwriters Insurance Company 47 42 62 571 528 The Cincinnati Life Insurance Company 41 27 19 270 241

Transactions With Affiliated Pa

Transactions With Affiliated Parties	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Transactions With Affiliated Parties	Transactions With Affiliated PartiesWe paid certain officers and directors, or insurance agencies of which they are shareholders, commissions of $8 million in 2021, $7 million in 2020 and $8 million in 2019, on premium volume of $47 million, $45 million and $48 million for 2021, 2020 and 2019, respectively.

Commitments And Contingent Liab

Commitments And Contingent Liabilities	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingent Liabilities	Commitments and Contingent Liabilities The company, through its insurance subsidiaries, is involved in claims litigation arising in the ordinary course of conducting its business, both as a liability insurer defending or providing indemnity for third-party claims brought against insureds and as an insurer defending coverage claims brought against it. The company accounts for such activity through the establishment of unpaid loss and loss expense reserves. Subject to the uncertainties discussed in Note 4, Property Casualty Loss and Loss Expenses, and in the discussion in the balance of this Note, we believe that the ultimate liability, if any, with respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses, costs of defense, and reinsurance recoveries, is immaterial to our consolidated financial position, results of operations and cash flows. Beginning in April 2020, like many companies in the property casualty insurance industry, the company’s property casualty subsidiaries, were named as defendants in lawsuits seeking insurance coverage under commercial property insurance policies issued by the company for alleged losses resulting from the shutdown or suspension of their businesses due to the COVID-19 pandemic. Although the allegations vary, the plaintiffs generally seek a declaration of insurance coverage, damages for breach of contract in unspecified amounts for claim denials, interest and attorney fees. Some of the lawsuits also allege that the insurance claims were denied in bad faith or otherwise in violation of state laws and seek extra-contractual or punitive damages. The company denies the allegations in these lawsuits and intends to continue to vigorously defend the lawsuits. The company maintains that it has no coverage obligations with respect to these lawsuits for business income allegedly lost by the plaintiffs due to the COVID-19 pandemic based on the terms of the applicable insurance policies. Although the policy terms vary, in general, the claims at issue in these lawsuits were denied because the policyholder identified no direct physical loss or damage to property at the insured premises, and the governmental orders that led to the complete or partial shutdown of the business were not due to the existence of any direct physical loss or damage to property in the immediate vicinity of the insured premises and did not prohibit access to the insured premises, as required by the terms of the insurance policies. Depending on the individual policy, additional policy terms and conditions may also prohibit coverage, such as exclusions for pollutants, ordinance or law, loss of use, and acts or decisions. The company’s standard commercial property insurance policies generally did not contain a specific virus exclusion. In addition to the inherent difficulty in predicting litigation outcomes, the COVID-19 pandemic business income coverage lawsuits present a number of uncertainties and contingencies that are not yet known, including how many policyholders will ultimately file claims, the number of lawsuits that will be filed, the extent to which any class may be certified, and the size and scope of any such classes. The legal theories advanced by plaintiffs vary by case as do the state laws that govern the policy interpretation. These lawsuits are at various stages of litigation; many complaints continue to be amended; several have been dismissed voluntarily and may be refiled; and others have been dismissed by trial courts and appealed. While early appellate decisions have been favorable, many remain to be decided. In some jurisdictions, many cases have been stayed pending appellate decisions in their state or federal circuit. Accordingly, little discovery has occurred on pending cases. In addition, business income calculations depend upon a wide range of factors that are particular to the circumstances of each individual policyholder and, here, virtually none of the plaintiffs have submitted proofs of loss or otherwise quantified or factually supported any allegedly covered loss. Moreover, the company’s experience shows that demands for damages often bear little relation to a reasonable estimate of potential loss. Accordingly, management cannot now reasonably estimate the possible loss or range of loss, if any. Nonetheless, given the number of claims and potential claims, the indeterminate amounts sought, and the inherent unpredictability of litigation, it is possible that adverse outcomes, if any, in the aggregate could have a material adverse effect on the company’s consolidated financial position, 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 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.

Share-Based Associate Compensat

Share-Based Associate Compensation Plans	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Associate Compensation Plans	Share-Based Associate Compensation Plans Four equity compensation plans currently permit us to grant various types of equity awards. We currently grant incentive stock options, nonqualified stock options, service-based restricted stock units and performance-based restricted stock units to associates, including some with market-based performance objectives under our shareholder-approved plans. We also have a Holiday Stock Plan that permits annual awards of one share of common stock to each full-time associate for each full calendar year of service up to a maximum of 10 shares. One of our equity compensation plans permits us to grant stock to our outside directors as a component of their annual compensation. We used treasury shares for share-based compensation award issues or exercises during 2021 and 2020. Share-based compensation cost after tax was $26 million, $25 million and $24 million for the years ended December 31, 2021, 2020 and 2019, respectively. The related income tax benefit recognized was $6 million for each of the years ended December 31, 2021, 2020 and 2019. Options exercised during the years ended December 31, 2021, 2020 and 2019, had intrinsic value of $24 million, $15 million and $26 million, respectively. Intrinsic value is the market price less the exercise price. Options vested during the years ended December 31, 2021, 2020 and 2019, had total intrinsic value of $15 million, $7 million and $23 million, respectively. As of December 31, 2021, we had $35 million of unrecognized total compensation cost related to nonvested stock options and restricted stock unit awards. That cost will be recognized over a weighted-average period of 1.8 years. Stock Options Stock options are granted to associates at an exercise price equal to the fair value as determined by the average high and low sales price reported on the Nasdaq Global Select Market for the grant date and are exercisable over 10-year periods. The stock options generally vest ratably over a three • Weighted-average expected term is based on historical experience of similar awards with consideration for current exercise trends. • Expected volatility is based on our stock price over a historical period that approximates the expected term. • Dividend yield is determined by dividing the annualized per share dividend by the stock price on the date of grant. • Risk-free rates are the implied yield currently available on zero-coupon U.S. Treasury issues with a remaining term approximating the expected term. The following weighted average assumptions were used in determining fair value for option grants issued: 2021 2020 2019 Weighted-average expected term 7-9 years 7-8 years 7-8 years Expected volatility 25.56-27.81% 16.89-17.13% 14.49-15.39% Dividend yield 2.62% 2.15% 2.61% Risk-free rates 0.97-1.26% 1.40-1.41% 2.62-2.64% Weighted-average fair value of options granted during the period $19.64 $15.45 $11.73 Below is a summary of option information for the year 2021: (Dollars in millions, except exercise price. Shares in thousands) Shares Weighted- Aggregate Weighted-average Outstanding option shares at January 1, 2021 3,601 $ 72.55 Granted 464 96.32 Exercised (415) 50.51 Forfeited or expired (98) 62.00 Outstanding option shares at December 31, 2021 3,552 78.52 $ 126 5.97 years Options exercisable at end of period 2,599 $ 70.99 $ 112 5.07 years Cash received from the exercise of options was $13 million, $7 million and $11 million for the years ended December 31, 2021, 2020 and 2019, respectively. We acquired 77,947 , 50,751 and 103,237 shares totaling $8 million, $5 million and $9 million, respectively, from associates in consideration for option exercises during 2021, 2020 and 2019. The weighted-average remaining contractual life for options expected to vest as of December 31, 2021, was 8.41 years. Under all active shareholder approved plans, a total of 17.3 million shares were authorized to be granted. At December 31, 2021, 5.9 million shares remained available for future issuance under the plans. During 2021, we granted 17,018 shares of common stock to our directors for 2020 board service fees. Restricted Stock Units Service-based restricted stock units granted to associates are valued at fair value of the shares on the date of grant less the present value of the dividends that holders of restricted stock units do not receive on the shares underlying the restricted stock units during the vesting period. Service-based restricted stock units generally cliff vest three years after the date of grant. We also grant restricted stock units which vest on a three We have performance-based awards that vest on the first day of March after a three three three Three For the three-year performance period ended December 31, 2021, our total shareholder return exceeded six of our nine peers. We expect payout of these shares at the target level to occur in March of 2022. During 2021, we issued 113,648 shares of performance-based restricted stock units at the maximum-level performance hurdle for the three-year performance period ended December 31, 2020, as our total shareholder return exceeded eight of nine peers in our 2018 peer group. We issued 56,722 shares of performance-based restricted stock units during 2020 at the target-level performance hurdle for the three These performance-based awards are valued using a Monte-Carlo valuation on the date of grant, which uses a risk-neutral framework to model future stock price movements based upon the risk-free rate of return, the volatility of each peer and the pairwise correlations of each peer being modeled. Compensation cost is recognized regardless of whether the market-based performance objective has been satisfied. We make assumptions to develop the Monte-Carlo model as follows: • Correlation coefficients are based upon the stock price data used to calculate the historical volatilities. The correlation coefficients are used to model the way the price of each entity's stock tends to move in relation to each other. • Expected volatility is based on each company's historical volatility using daily stock price observations with the period commensurate with the performance measurement period. • Dividend yield has been modeled assuming dividends are reinvested in additional shares of the issuing entity on the ex-dividend date during the performance period. • Risk-free rates are equal to the yield, as of the measurement date, of the zero-coupon U.S. Treasury bill that is commensurate with the performance measurement period. The following assumptions were used in determining fair value for performance-based grants issued: 2021 2020 2019 Expected term 2.85 years 2.86 years 2.86 years Expected volatility 29.50-47.26% 15.88-25.13% 15.10-25.00% Dividend yield 2.62% 2.15% 2.61% Risk-free rates 0.20% 1.30% 2.48% Below is a summary of service-based and performance-based share information, assuming a target payout for performance-based shares, for the year 2021: (Shares in thousands) Service-based Weighted- Performance-based Weighted- Nonvested at January 1, 2021 696 $ 81.56 147 $ 84.64 Granted 243 89.29 106 86.13 Vested (274) 67.96 (114) 63.29 Forfeited or canceled (31) 89.73 — — Nonvested at December 31, 2021 634 90.01 139 103.16

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information We operate primarily in two industries, property casualty insurance and life insurance. Our chief operating decision maker regularly reviews 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. We also report as Other the underwriting results of Cincinnati Re and Cincinnati Global. Revenues come primarily from unaffiliated customers: • All four insurance segments record revenues from insurance premiums earned. • Fee revenues for the commercial, personal and excess and surplus insurance segments primarily represent installment fees. Fee revenues for the life insurance segment represent separate account investment management fees. • Our investments’ revenues consist of pretax net investment income and investment gains and losses. • Other revenues are primarily finance income and earned premiums of Cincinnati Re and Cincinnati Global. Income or loss before income taxes for each segment is reported based on the nature of that business area’s operations: • Income before income taxes for the insurance segments is defined as underwriting profit or loss. ◦ For commercial lines, personal lines and excess and surplus lines insurance segments, we calculate underwriting profit or loss as premiums earned and fee revenue minus loss and loss expenses and underwriting expenses incurred. ◦ For the life insurance segment, we calculate underwriting profit or loss as premiums earned and fee revenue, minus contract holders’ benefits and expenses incurred, plus investment interest credited to contract holders. • Income before income taxes for the investments segment is net investment income plus investment gains and losses for investments of the entire company, minus investment interest credited to contract holders of the life insurance segment. • Loss before income taxes for the Other category is primarily due to interest expense from debt of the parent company, operating expenses of our headquarters and premiums earned minus loss and loss expenses and underwriting expenses of Cincinnati Re and Cincinnati Global. We do not separately report the identifiable assets of property casualty insurance for the commercial, personal and excess and surplus lines segments or for Cincinnati Re because we do not use that measure to analyze performance. We include all investment portfolio assets, regardless of ownership, in the investments segment. Segment information is summarized in the following table: (Dollars in millions) Years ended December 31, 2021 2020 2019 Revenues: Commercial lines insurance Commercial casualty $ 1,270 $ 1,165 $ 1,102 Commercial property 1,043 1,010 958 Commercial auto 794 755 707 Workers' compensation 268 271 300 Other commercial 299 275 252 Commercial lines insurance premiums 3,674 3,476 3,319 Fee revenues 4 3 5 Total commercial lines insurance 3,678 3,479 3,324 Personal lines insurance Personal auto 609 615 621 Homeowner 726 658 607 Other personal 207 190 176 Personal lines insurance premiums 1,542 1,463 1,404 Fee revenues 4 4 4 Total personal lines insurance 1,546 1,467 1,408 Excess and surplus lines insurance 398 325 278 Fee revenues 2 2 2 Total excess and surplus lines insurance 400 327 280 Life insurance premiums 298 289 270 Fee revenues 5 2 4 Total life insurance 303 291 274 Investments Investment income, net of expenses 714 670 646 Investment gains and losses, net 2,409 865 1,650 Total investment revenue 3,123 1,535 2,296 Other Premiums 570 427 333 Other 10 10 9 Total other revenue 580 437 342 Total revenues $ 9,630 $ 7,536 $ 7,924 Income (loss) before income taxes: Insurance underwriting results Commercial lines insurance $ 598 $ 64 $ 241 Personal lines insurance 97 47 8 Excess and surplus lines insurance 44 34 53 Life insurance (16) 11 1 Investments 3,018 1,433 2,197 Other (71) (90) (28) Total income before income taxes $ 3,670 $ 1,499 $ 2,472 December 31, December 31, Identifiable assets: 2021 2020 Property casualty insurance $ 4,421 $ 3,838 Life insurance 1,590 1,661 Investments 24,481 21,332 Other 895 711 Total $ 31,387 $ 27,542

Summary Of Investments Other Th

Summary Of Investments Other Than Investments In Related Parties	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Summary Of Investments Other Than Investments In Related Parties	Schedule I Cincinnati Financial Corporation and Subsidiaries Summary of Investments - Other Than Investments in Related Parties (Dollars in millions) At December 31, 2021 Type of investment Cost or Fair Balance sheet Fixed maturities: States, municipalities and political subdivisions: The Cincinnati Insurance Company $ 3,343 $ 3,583 $ 3,583 The Cincinnati Casualty Company 230 246 246 The Cincinnati Indemnity Company 49 53 53 The Cincinnati Life Insurance Company 446 471 471 The Cincinnati Specialty Underwriters Insurance Company 643 685 685 Cincinnati Financial Corporation 57 57 57 Total 4,768 5,095 5,095 United States government: The Cincinnati Insurance Company 69 71 71 The Cincinnati Casualty Company 1 1 1 The Cincinnati Indemnity Company 1 1 1 Cincinnati Global Underwriting Ltd. 50 50 50 Total 121 123 123 Foreign government: The Cincinnati Insurance Company 10 10 10 Cincinnati Global Underwriting Ltd. 16 16 16 Total 26 26 26 Government-sponsored enterprises: Cincinnati Global Underwriting Ltd. 8 8 8 Total 8 8 8 All other corporate bonds: The Cincinnati Insurance Company 3,443 3,628 3,628 The Cincinnati Casualty Company 102 106 106 The Cincinnati Indemnity Company 33 35 35 The Cincinnati Life Insurance Company 3,339 3,595 3,595 The Cincinnati Specialty Underwriters Insurance Company 300 316 316 CSU Producer Resources Inc. 1 1 1 Cincinnati Global Underwriting Ltd. 82 82 82 Cincinnati Financial Corporation 7 7 7 Total 7,307 7,770 7,770 Total fixed maturities $ 12,230 $ 13,022 $ 13,022 Schedule I (continued) Cincinnati Financial Corporation and Subsidiaries Summary of Investments - Other Than Investments in Related Parties (Dollars in millions) At December 31, 2021 Type of investment Cost or Fair Balance sheet Equity securities: Common equities: The Cincinnati Insurance Company $ 1,848 $ 5,543 $ 5,543 The Cincinnati Casualty Company 59 186 186 The Cincinnati Indemnity Company 18 44 44 The Cincinnati Specialty Underwriters Insurance Company 101 287 287 CSU Producer Resources Inc. 15 28 28 Cincinnati Financial Corporation 1,656 4,774 4,774 Total 3,697 10,862 10,862 Nonredeemable preferred equities: The Cincinnati Insurance Company 407 436 436 The Cincinnati Life Insurance Company 13 13 13 Cincinnati Financial Corporation 4 4 4 Total 424 453 453 Total equity securities $ 4,121 $ 11,315 $ 11,315 Other invested assets: Policy loans: The Cincinnati Life Insurance Company $ 31 — $ 31 Deposits at Lloyd's: Cincinnati Global Underwriting Ltd. 29 — 29 Cincinnati Financial Corporation 6 — 6 Private equity: The Cincinnati Insurance Company (1) 191 — 191 Cincinnati Financial Corporation (1) 36 — 36 Real estate: The Cincinnati Insurance Company (1) 27 — 27 The Cincinnati Life Insurance Company (1) 5 — 5 Cincinnati Financial Corporation (1) 4 — 4 Total other invested assets $ 329 — $ 329 Total investments $ 16,680 — $ 24,666

Condensed Financial Statements

Condensed Financial Statements Of Parent Company	12 Months Ended
	Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Statements Of Parent Company	Schedule II Cincinnati Financial Corporation (parent company only) Condensed Balance Sheets (Dollars in millions) At December 31, 2021 2020 Assets Investments Fixed maturities, at fair value (amortized cost: 2021—$64; 2020—$69) $ 64 $ 68 Equity securities, at fair value (cost: 2021—$1,660; 2020—$1,607) 4,778 3,687 Other invested assets 46 145 Total investments 4,888 3,900 Cash and cash equivalents 211 16 Equity in net assets of subsidiaries 9,292 7,982 Investment income receivable 9 8 Land, building and equipment, net, for company use (accumulated depreciation: 2021—$147; 2020—$138) 140 143 Income tax receivable — 5 Other assets 108 53 Due from subsidiaries 106 110 Total assets $ 14,754 $ 12,217 Liabilities Dividends declared but unpaid $ 101 $ 97 Deferred federal income tax 664 429 Long-term debt 789 788 Other liabilities 95 114 Total liabilities 1,649 1,428 Shareholders' Equity Common stock 397 397 Paid-in capital 1,356 1,328 Retained earnings 12,625 10,085 Accumulated other comprehensive income 648 769 Treasury stock, at cost (1,921) (1,790) Total shareholders' equity 13,105 10,789 Total liabilities and shareholders' equity $ 14,754 $ 12,217 This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8. Schedule II (continued) Cincinnati Financial Corporation (parent company only) Condensed Statements of Income and Comprehensive Income (Dollars in millions) Years ended December 31, 2021 2020 2019 Revenues Investment income, net of expenses $ 91 $ 81 $ 75 Investment gains and losses, net 1,058 556 728 Other revenue 15 15 15 Total revenues 1,164 652 818 Expenses Interest expense 53 54 52 Other expenses 32 34 37 Total expenses 85 88 89 Income Before Income Taxes and Earnings of Subsidiaries 1,079 564 729 Provision for Income Taxes 217 111 146 Net Income Before Earnings of Subsidiaries 862 453 583 Increase in equity of subsidiaries 2,084 763 1,414 Net Income $ 2,946 $ 1,216 $ 1,997 Other Comprehensive Income (Loss), Net of Taxes Change in unrealized gain on securities 1 — — Amortization of pension actuarial gains (losses) and prior service costs 54 (25) 5 Other Comprehensive Income (Loss), Net of Taxes Before Other Comprehensive Income 55 (25) 5 Other comprehensive income (loss) of subsidiaries (176) 346 421 Other comprehensive income (loss) (121) 321 426 Comprehensive Income $ 2,825 $ 1,537 $ 2,423 This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8. Schedule II (continued) Cincinnati Financial Corporation (parent company only) Condensed Statements of Cash Flows (Dollars in millions) Years ended December 31, 2021 2020 2019 Cash Flows From Operating Activities Net income $ 2,946 $ 1,216 $ 1,997 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 11 12 10 Investment gains and losses, net (1,034) (552) (720) Dividends from subsidiaries 598 550 625 Changes in: Increase in equity of subsidiaries (2,084) (763) (1,414) Investment income receivable (1) (1) (1) Current federal income taxes 6 (3) (1) Deferred income tax 220 91 146 Other assets 5 — 4 Other liabilities — 1 4 Intercompany receivable for operations 5 34 20 Net cash provided by operating activities 672 585 670 Cash Flows From Investing Activities Sale of fixed maturities 4 — 3 Call or maturity of fixed maturities 18 1 21 Sale of equity securities 25 307 122 Purchase of fixed maturities (19) (23) (39) Purchase of equity securities (82) (372) (237) Investment in buildings and equipment (6) (11) (13) Cash paid for acquisition — — (63) Change in other invested assets, net 108 (42) (67) Net cash (used in) received from investing activities 48 (140) (273) Cash Flows From Financing Activities Payment of cash dividends to shareholders (395) (375) (355) Shares acquired - share repurchase authorization (144) (261) (67) Proceeds from stock options exercised 13 7 11 Other 1 3 2 Net cash used in financing activities (525) (626) (409) Net change in cash and cash equivalents 195 (181) (12) Cash and cash equivalents at beginning of year 16 197 209 Cash and cash equivalents at end of year $ 211 $ 16 $ 197

Supplementary Insurance Informa

Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Supplementary Insurance Information	Schedule III Cincinnati Financial Corporation and Subsidiaries Supplementary Insurance Information (Dollars in millions) Years ended December 31, 2021 2020 2019 Deferred policy acquisition costs: Commercial lines insurance $ 345 $ 317 $ 311 Personal lines insurance 145 136 130 Excess and surplus lines insurance 33 28 25 Other 79 61 46 Total property casualty insurance 602 542 512 Life insurance 303 263 262 Total $ 905 $ 805 $ 774 Gross future policy benefits, losses, claims and expense losses: Commercial lines insurance $ 5,007 $ 4,881 $ 4,569 Personal lines insurance 814 739 687 Excess and surplus lines insurance 577 446 351 Other 831 611 481 Total property casualty insurance 7,229 6,677 6,088 Life insurance 3,037 2,938 2,859 Total (1) $ 10,266 $ 9,615 $ 8,947 Gross unearned premiums: Commercial lines insurance $ 1,857 $ 1,714 $ 1,665 Personal lines insurance 850 797 757 Excess and surplus lines insurance 207 175 152 Other 356 273 213 Total property casualty insurance 3,270 2,959 2,787 Life insurance 1 1 1 Total (1) $ 3,271 $ 2,960 $ 2,788 Other policy claims and benefits payable: Commercial lines insurance $ — $ — $ — Personal lines insurance — — — Excess and surplus lines insurance — — — Other — — — Total property casualty insurance — — — Life insurance 53 46 35 Total (1) $ 53 $ 46 $ 35 Earned premiums: Commercial lines insurance $ 3,674 $ 3,476 $ 3,319 Personal lines insurance 1,542 1,463 1,404 Excess and surplus lines insurance 398 325 278 Other 570 427 333 Total property casualty insurance 6,184 5,691 5,334 Life insurance 298 289 270 Total $ 6,482 $ 5,980 $ 5,604 Schedule III (continued) Cincinnati Financial Corporation and Subsidiaries Supplementary Insurance Information (Dollars in millions) Years ended December 31, 2021 2020 2019 Investment income, net of expenses: Commercial lines insurance $ — $ — $ — Personal lines insurance — — — Excess and surplus lines insurance — — — Other — — — Total property casualty insurance (2) 457 431 419 Life insurance 166 158 152 Total $ 623 $ 589 $ 571 Benefits, claims losses and settlement expenses: Commercial lines insurance $ 1,940 $ 2,336 $ 2,030 Personal lines insurance 992 977 985 Excess and surplus lines insurance 250 199 142 Other 414 325 195 Total property casualty insurance 3,596 3,837 3,352 Life insurance 340 297 286 Total $ 3,936 $ 4,134 $ 3,638 Amortization of deferred policy acquisition costs: Commercial lines insurance $ 703 $ 664 $ 631 Personal lines insurance 276 256 251 Excess and surplus lines insurance 63 51 47 Other 109 86 57 Total property casualty insurance 1,151 1,057 986 Life insurance 46 49 48 Total (3) $ 1,197 $ 1,106 $ 1,034 Underwriting, acquisition and insurance expenses: Commercial lines insurance $ 437 $ 415 $ 422 Personal lines insurance 181 187 164 Excess and surplus lines insurance 43 43 38 Other 55 42 42 Total property casualty insurance 716 687 666 Life insurance 38 36 38 Total (3) $ 754 $ 723 $ 704 Net written premiums: Commercial lines insurance $ 3,811 $ 3,534 $ 3,410 Personal lines insurance 1,594 1,503 1,435 Excess and surplus lines insurance 426 348 303 Other 648 479 368 Total property casualty insurance 6,479 5,864 5,516 Accident and health insurance 2 2 2 Total $ 6,481 $ 5,866 $ 5,518 Notes to Schedule III: (1) The sum of gross future policy benefits, losses, claims and expense losses, gross unearned premiums and other policy claims and benefits payable is equal to the sum of Loss and loss expense reserves, Life policy reserves and investment contract reserves and Unearned premiums reported in the company’s consolidated balance sheets. (2) This segment information is not regularly allocated to segments and reviewed by company management in making decisions about resources to be allocated to the segments or to assess their performance. (3) The sum of amortization of deferred policy acquisition costs and other underwriting and insurance expenses is equal to Underwriting, acquisition and insurance expenses in the consolidated statements of income.

Reinsurance - Schedule IV

Reinsurance - Schedule IV	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Text Block]	Schedule IV Cincinnati Financial Corporation and Subsidiaries Reinsurance (Dollars in millions) Years ended December 31, 2021 2020 2019 Gross amounts: Life insurance in force $ 116,697 $ 111,756 $ 108,130 Earned premiums Commercial lines insurance $ 3,777 $ 3,578 $ 3,421 Personal lines insurance 1,586 1,503 1,446 Excess and surplus lines insurance 417 341 292 Other 216 201 181 Total property casualty insurance 5,996 5,623 5,340 Life insurance 374 362 341 Total $ 6,370 $ 5,985 $ 5,681 Ceded amounts to other companies: Life insurance in force $ 39,204 $ 38,281 $ 38,146 Earned premiums Commercial lines insurance $ 115 $ 109 $ 109 Personal lines insurance 45 41 43 Excess and surplus lines insurance 19 16 14 Other 76 51 39 Total property casualty insurance 255 217 205 Life insurance 76 73 71 Total $ 331 $ 290 $ 276 Assumed amounts from other companies: Life insurance in force $ — $ — $ — Earned premiums Commercial lines insurance $ 12 $ 7 $ 7 Personal lines insurance 1 1 1 Excess and surplus lines insurance — — — Other 430 277 191 Total property casualty insurance 443 285 199 Life insurance — — — Total $ 443 $ 285 $ 199 Net amounts: Life insurance in force $ 77,493 $ 73,475 $ 69,984 Earned premiums Commercial lines insurance $ 3,674 $ 3,476 $ 3,319 Personal lines insurance 1,542 1,463 1,404 Excess and surplus lines insurance 398 325 278 Other 570 427 333 Total property casualty insurance 6,184 5,691 5,334 Life insurance 298 289 270 Total $ 6,482 $ 5,980 $ 5,604 Percentage of amounts assumed to net: Life insurance in force — % — % — % Earned premiums Commercial lines insurance 0.3 % 0.2 % 0.2 % Personal lines insurance 0.1 0.1 0.1 Excess and surplus lines insurance — — — Other 75.4 64.9 57.4 Total property casualty insurance 7.2 5.0 3.7 Life insurance — — — Total 6.8 4.8 3.6

Valuation And Qualifying Accoun

Valuation And Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation And Qualifying Accounts	Schedule V Cincinnati Financial Corporation and Subsidiaries Valuation and Qualifying Accounts (Dollars in millions) At December 31, 2021 2020 2019 Allowance for credit losses (1): Beginning balance, January 1 $ 22 $ 8 $ 6 Cumulative effect of change in accounting for credit losses as of January 1, 2020, pretax — 3 — Additions charged to costs and expenses 14 19 8 Deductions (20) (8) (6) Ending balance, December 31 $ 16 $ 22 $ 8 Deferred tax valuation allowance: Beginning balance, January 1 $ 56 $ 41 $ — Additions charged to costs and expenses — 15 55 Deductions (3) — (14) Ending balance, December 31 53 56 41 Total valuation and qualifying accounts $ 69 $ 78 $ 49 Notes to Schedule V: (1) Includes allowances for credit losses related to premiums receivable, reinsurance recoverable, finance receivables and fixed-maturity securities.

Supplementary Information Conce

Supplementary Information Concerning Property Casualty Insurance Operations	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract]
Supplementary Information Concerning Property Casualty Insurance Operations	Schedule VI Cincinnati Financial Corporation and Subsidiaries Supplementary Information Concerning Property Casualty Insurance Operations (Dollars in millions) Years ended December 31, 2021 2020 2019 Deferred policy acquisition costs: Commercial lines insurance $ 345 $ 317 $ 311 Personal lines insurance 145 136 130 Excess and surplus lines insurance 33 28 25 Other 79 61 46 Total $ 602 $ 542 $ 512 Reserves for unpaid claims and claim adjustment expenses: Commercial lines insurance $ 5,007 $ 4,881 $ 4,569 Personal lines insurance 814 739 687 Excess and surplus lines insurance 577 446 351 Other 831 611 481 Total $ 7,229 $ 6,677 $ 6,088 Reserve discount deducted $ — $ — $ — Gross unearned premiums: Commercial lines insurance $ 1,857 $ 1,714 $ 1,665 Personal lines insurance 850 797 757 Excess and surplus lines insurance 207 175 152 Other 356 273 213 Total $ 3,270 $ 2,959 $ 2,787 Earned premiums: Commercial lines insurance $ 3,674 $ 3,476 $ 3,319 Personal lines insurance 1,542 1,463 1,404 Excess and surplus lines insurance 398 325 278 Other 570 427 333 Total $ 6,184 $ 5,691 $ 5,334 Investment income, net of expenses: Commercial lines insurance $ — $ — $ — Personal lines insurance — — — Excess and surplus lines insurance — — — Other — — — Total (1) $ 457 $ 431 $ 419 Note to Schedule VI: (1) This segment information is not regularly allocated to segments and not reviewed by company management in making decisions about resources to be allocated to the segments or to assess their performance. Schedule VI (continued) Cincinnati Financial Corporation and Subsidiaries Supplementary Information Concerning Property Casualty Insurance Operations (Dollars in millions) Years ended December 31, 2021 2020 2019 Loss and loss expenses incurred related to current accident year: Commercial lines insurance $ 2,293 $ 2,431 $ 2,222 Personal lines insurance 1,042 995 1,012 Excess and surplus lines insurance 243 192 153 Other 446 350 213 Total $ 4,024 $ 3,968 $ 3,600 Loss and loss expenses incurred related to prior accident years: Commercial lines insurance $ (353) $ (95) $ (192) Personal lines insurance (50) (18) (27) Excess and surplus lines insurance 7 7 (11) Other (32) (25) (18) Total $ (428) $ (131) $ (248) Amortization of deferred policy acquisition costs: Commercial lines insurance $ 703 $ 664 $ 631 Personal lines insurance 276 256 251 Excess and surplus lines insurance 63 51 47 Other 109 86 57 Total $ 1,151 $ 1,057 $ 986 Paid loss and loss expenses: Commercial lines insurance $ 1,806 $ 1,969 $ 2,023 Personal lines insurance 914 921 966 Excess and surplus lines insurance 118 112 90 Other 256 181 181 Total $ 3,094 $ 3,183 $ 3,260 Net written premiums: Commercial lines insurance $ 3,811 $ 3,534 $ 3,410 Personal lines insurance 1,594 1,503 1,435 Excess and surplus lines insurance 426 348 303 Other 648 479 368 Total $ 6,479 $ 5,864 $ 5,516

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Cincinnati Financial Corporation (CFC) operates through The Cincinnati Insurance Company and Cincinnati Global Underwriting Ltd. SM (Cincinnati Global) insurance subsidiaries and two complementary subsidiary companies. Cincinnati Global, our London-based global specialty underwriter, was acquired effective February 28, 2019. The Cincinnati Insurance Company leads our insurance group that also includes two subsidiaries: The Cincinnati Casualty Company and The Cincinnati Indemnity Company. This group markets a broad range of standard market commercial and personal policies. The group focuses on delivery of quality customer service to our select group of 1,921 independent insurance agencies with 2,721 reporting locations acros s 46 states . Other subsidiaries of The Cincinnati Insurance Company include: The Cincinnati Life Insurance Company, which markets life insurance and fixed annuities; and The Cincinnati Specialty Underwriters Insurance Company, which offers excess and surplus lines property casualty insurance products. The Cincinnati Insurance Company also conducts the business of our reinsurance assumed operations, Cincinnati Re ® . The two CFC complementary subsidiaries are CSU Producer Resources Inc., which provides insurance brokerage services to our independent agencies so their clients can access our excess and surplus lines insurance products, and CFC Investment Company, which offers commercial leasing and financing services to our agents, their clients and other customers. Beginning in mid-March 2020, the coronavirus (SARS-CoV-2 or COVID-19) pandemic outbreak, and unprecedented actions taken to contain the virus, caused an economic downturn on a global scale as well as market disruption and
Basis of Presentation	Basis of Presentation Our consolidated financial statements include the accounts of the parent and its wholly owned subsidiaries and are presented in conformity with accounting principles generally accepted in the United States of America (GAAP). The 2019 consolidated financial statements include Cincinnati Global's results for the period from February 28, 2019, through December 31, 2019. Foreign exchange rates related to Cincinnati Global's operations did not have a material impact to our consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation. The preparation of the consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Our actual results could differ from those estimates.
Investments	Investments Our portfolio investments are primarily in publicly traded fixed-maturity and equity security investments. Fixed-maturity investments (taxable bonds, tax-exempt bonds, redeemable preferred equities and commercial mortgage- backed securities) classified as available for sale and equity investments (common and nonredeemable preferred equities) are recorded at fair value in the consolidated financial statements. Changes in fair value of fixed-maturity securities are reported in other comprehensive income while equity securities are reported in net income. The number of fixed-maturity securities with fair values below 100% of amortized cost can be expected to fluctuate as interest rates rise or fall. Because of our strong capital and long-term investment horizon, our general intent is to hold fixed-maturity investments until maturity, regardless of short-term fluctuations in fair values. An available for sale fixed maturity is impaired if the fair value of the security is below amortized cost. The impaired loss is charged to net income when we have the intent to sell the security or it is more likely than not we will be required to sell the security before recovery of the amortized cost. For impaired securities we intend to hold, an allowance for credit related losses is recorded in investment losses when the company determines a credit loss has been incurred based on certain factors such as adverse conditions, credit rating downgrades or failure of the issuer to make scheduled principal or interest payments. A credit loss is determined using a discounted cash flow analysis by comparing the present value of expected cash flows with the amortized cost basis, limited to the difference between fair value and amortized cost. Noncredit losses are recognized in other comprehensive income as a change in unrealized gains and losses on investments. As securities are sold, we recognize the gain or loss in income based on the trade date. Included within our other invested assets were $227 million and $128 million of private equity investments, $36 million and $25 million of real estate through direct property ownership and development projects in the United States, $35 million and $162 million held on deposit at Lloyd's and $31 million and $33 million of life policy loans at December 31, 2021 and 2020, respectively. The private equity investments provide their financial statements to us and generally report investments on their balance sheets at fair value. We use the equity method of accounting for private equity and real estate development investments. Lloyd's deposits primarily consist of highly liquid short-term investment instruments. Life policy loans are carried at the receivable value. Investment income, net of expenses, consists mainly of interest and dividends. We record interest on an accrual basis and record dividends at the ex-dividend date. We amortize premiums and discounts on fixed-maturity securities using the effective interest method over the expected life of the security.
Fair Value Disclosures	Fair Value Disclosures Fair value is defined as the exit price or the amount that would be (1) received to sell an asset or (2) paid to transfer a liability in an orderly transaction between marketplace participants at the measurement date. When determining an exit price, we rely upon observable market data whenever possible. We primarily base fair value for investments in equity and fixed-maturity securities (including redeemable preferred stock and assets held in separate accounts) on quoted market prices or on prices from the company’s nationally recognized pricing vendors, outside resources that supply global securities pricing, dividend, corporate action and descriptive information to support fund pricing, securities operations, research and portfolio management. The company obtains and reviews the pricing services' valuation methodologies and related inputs and validates these prices by replicating a sample across each asset class using a discounted cash flow model. When a price is not available from these sources, as in the case of securities that are not publicly traded, we determine the fair value using various inputs including quotes from independent brokers. The fair value of investments not priced by the company’s nationally recognized pricing vendors is immaterial. For the purpose of Accounting Standards Codification (ASC) 825, Financial Instruments disclosure, we estimate the fair value of our long-term senior notes on market pricing of similar debt instruments that are actively trading. We estimate the fair value of our note payable on the year-end outstanding balance because it is short term and tied to a variable interest rate. We estimate the fair value of liabilities for investment contracts and annuities using discounted cash flow calculations across a wide range of economic interest rate scenarios with a provision for our nonperformance risk. We estimate the fair value for policyholder loans on insurance contracts using a discounted cash flow model. Determination of fair value for structured settlements assumes the discount rates used to calculate the present value of expected payments are the risk-free spot rates plus an A3 rated bond spread for financial issuers at December 31, 2021, to account for nonperformance risk. See Note 3, Fair Value Measurements, for further details.
Cash And Cash Equivalents	Cash and Cash EquivalentsCash and cash equivalents are highly liquid instruments that include liquid debt instruments with original maturities of less than three months. These are carried at cost, which approximates fair value.
Property Casualty Insurance	Property Casualty Insurance The consolidated property casualty companies actively write property casualty insurance through independent agencies i n 46 states. Our 10 largest states generated 52.1% and 53.3% of total earned premiums in 2021 and 2020, respectively. Ohio, our largest state, accounted for 14.4% and 14.8% of total earned premiums in 2021 and 2020, respectively. Illinois, North Carolina, Georgia, Pennsylvania, Indiana and New York each accounted for between 4% and 6% of total earned premiums in 2021. Our largest single agency relationship accounted for approximately 0.6% of our total property casualty earned premiums in 2021. No aggregate agency relationship locations under a single ownership structure accounted for more than 5% of our total property casualty earned premiums in 2021. We record revenues for installment charges as fee revenues in the consolidated statements of income. Property casualty written premiums are deferred and recorded as earned premiums primarily on a pro rata basis over the terms of the policies. We record as unearned premiums the portion of written premiums that applies to unexpired policy terms. Expenses associated with successfully acquiring insurance policies – commissions, premium taxes and underwriting costs – are deferred and amortized over the terms of the policies. We assess recoverability of deferred acquisition costs at a level consistent with the way we acquire, service and manage insurance policies and measure profitability. We analyze our acquisition cost assumptions to reflect actual experience, and we evaluate potential premium deficiencies. Certain property casualty policies are not entered into policy underwriting systems as of the effective date of coverage. An estimate is recorded for these unprocessed written premiums. A large majority of the estimate is unearned and has no material impact on earned premiums. An allowance for credit losses on uncollectible property casualty premiums is updated and reviewed on a quarterly basis. The allowance for credit losses was $14 million, $19 million and $9 million at December 31, 2021, 2020 and January 1, 2020 (date of adoption), respectively. A significant portion of the increase in the allowance to $19 million at December 31, 2020 was due to consideration of pandemic-related factors. Other changes in the amount for each period were immaterial.
Policyholder Dividends	Policyholder Dividends Certain workers’ compensation policies include the possibility of a policyholder earning a return of a portion of premium in the form of a policyholder dividend. The dividend generally is calculated by determining the profitability of a policy year along with the associated premium. We reserve for all probable future policyholder dividend payments. We record policyholder dividends as other underwriting expenses.
Life Insurance	Life Insurance We offer several types of life insurance and we account for each according to the duration of the contract. Short-duration life and health contracts are written to cover claims that arise during a short, fixed term of coverage. We generally have the right to change the amount of premium charged or cancel the coverage at the end of each contract term. We record premiums for short-duration life and health contracts similarly to property casualty contracts. Long-duration contracts are written to provide coverage for an extended period of time. Traditional long-duration contracts require policyholders to pay scheduled gross premiums, generally not less frequently than annually, over the term of the coverage. Premiums for these contracts, such as whole life insurance are recognized as revenue when due. Some traditional long-duration contracts, such as ten-pay whole life insurance, have premium payment periods shorter than the period over which coverage is provided. For these contracts, the excess of premium over the amount required to pay expenses and benefits is recognized over the term of the coverage rather than over the premium payment period. We establish a liability for traditional long-duration contracts as we receive premiums. The amount of this liability is the present value of future expenses and benefits less the present value of future net premiums. Net premium is the portion of gross premium required to provide for all expenses and benefits. We estimate future expenses and benefits and net premium using assumptions for expected expenses, mortality, morbidity, withdrawal rates and investment income. We include a provision for deviation, meaning we allow for some uncertainty in making our assumptions. We establish our assumptions when the contract is issued, and we generally maintain those assumptions for the life of the contract. 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. We use our own experience and historical trends for setting our assumption for expected expenses. We base our assumption for expected investment income on our own experience, adjusted for current and future economic conditions. We capitalize acquisition costs for traditional long-duration contracts. We charge these capitalized costs associated with successfully acquiring traditional long-duration contract insurance policies in proportion to premium revenue recognized. We use the same assumptions used in establishing the liability for the contract. We update our acquisition cost assumptions periodically to reflect actual experience, and we evaluate our deferred acquisition costs for recoverability. Universal life contracts are long-duration contracts for which contractual provisions are not fixed, unlike whole life insurance. Universal life contracts allow policyholders to vary the amount of premium, within limits, without our consent. However, we may vary the mortality, expense charges and the interest crediting rate, within limits, used to accumulate policy values. We do not record universal life premiums as revenue. Instead we recognize as revenue the mortality charges, administration charges and surrender charges when received. Some of our universal life contracts assess administration charges in the early years of the contract that are compensation for services we will provide in the later years of the contract. These administration charges are deferred and are recognized over the period when we provide those future services. We maintain a policy reserve liability equal to the policyholder account value. There is no provision for adverse deviation. 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. We capitalize acquisition costs associated with successfully acquiring universal life long-duration contracts. We charge these capitalized costs to expenses over the term of coverage of the contract in accordance with the recognition of gross profit from the contract or notional benefit base. When we charge deferred policy acquisition costs to expenses, we use assumptions based on our best estimates of long-term experience. We review and modify these assumptions on a regular basis.
Separate Accounts	Separate Accounts We have issued universal life contracts with guaranteed minimum returns, referred to as bank-owned life insurance contracts (BOLIs). A BOLI is designed so the bank is the policy owner and the policy beneficiary. We legally segregate and record as separate accounts the assets and liabilities for some of our BOLIs, based on the specific contract provisions. We guarantee minimum investment returns, account values and death benefits for our separate account BOLIs. Our other BOLIs are general account products. We carry the assets of separate account BOLIs at fair value. The liabilities on separate account BOLIs primarily are the contract holders’ claims to the related assets and are carried at an amount equal to the contract holders’ account value. At December 31, 2021 and 2020, the current fair value of th e BOLI invested assets and cash exceeded the current fair value of the contract holders’ account value by approximately $79 million and $99 million, respectively. If the BOLI projected fair value were to fall below the value we guaranteed, a liability would be established with a corresponding charge to the company’s earnings. Generally, investment income and investment gains and losses of the separate accounts accrue directly to the contract holder, and we do not include them in the consolidated statements of income. Revenues and expenses related to separate accounts consist of contractual fees and mortality, surrender and expense risk charges. Also, each separate account BOLI includes a negotiated capital gain and loss sharing arrangement between the company and the bank. A percentage of each separate account’s investment gains and losses representing contract
Reinsurance	Reinsurance The Cincinnati Insurance Company offers reinsurance assumed for casualty (predominantly domestic exposure), specialty and property (worldwide exposure). Treaties are written on a pro rata and excess of loss basis. We also continue to assume risk with limited exposure as a reinsurer for involuntary state pools. Written premium is recorded, net of contract specific retrocessions, on an ultimate estimate basis and primarily earned on a pro rata basis over the coverage period of the treaty. Expenses are recorded as per contract terms and deferred over the earning period of the premium. We establish known loss reserves when reported. We establish reserves for losses in excess of reported activity in the form of IBNR. Reserves are established using actuarial analysis, which includes models and methods traditionally used for the types of exposures written. We establish reserves for event specific occurrences using modeling data and company specific data when available. We enter into other reinsurance transactions to reduce risk and uncertainty by buying property casualty reinsurance and retrocessional reinsurance as well as life reinsurance. Reinsurance and retrocessional reinsurance contracts do not relieve us from our obligation to policyholders, but rather help protect our financial strength to perform that duty. All of these ceded reinsurance contracts transfer the economic risk of loss. Premiums that we cede are deferred and recorded as earned premiums on a pro rata basis over the terms of the contracts. We estimate loss amounts recoverable from our reinsurers based on the reinsurance policy terms. Historically, our claims with reinsurers have been paid. An allowance for credit losses on uncollectible reinsurance premiums and recoverable assets is updated and reviewed on a quarterly basis. At December 31, 2021 and 2020, the allowances, including changes in the amount for each period, were immaterial.
Income Taxes	Income Taxes We calculate deferred income tax liabilities and assets using tax rates in effect when temporary differences in taxable income and financial statement income are expected to reverse. We recognize deferred income taxes for numerous temporary differences between our taxable income and financial statement income and other changes in shareholders’ equity. Such temporary differences relate primarily to unrealized gains and losses on investments and differences in the recognition of deferred acquisition costs, unearned premiums, insurance reserves, international earnings and basis differences in the carrying value of investments held. We charge deferred income taxes associated with balances that impact other comprehensive income, such as unrealized gains and losses of fixed-maturity investments, to shareholders’ equity in accumulated other comprehensive income (AOCI). We charge deferred taxes associated with other differences to income. See Note 11, Income Taxes, for further detail on our uncertain tax positions and other income tax items. Although no Internal Revenue Service (IRS) penalties currently are accrued, if incurred, they would be recognized as a component of income tax expense.
Earnings per Share	Earnings per Share Net income per common share is based on the weighted average number of common shares outstanding during each of the respective years. We calculate net income per common share (diluted) assuming the exercise or conversion of share‑based awards using the treasury stock method.
Land, Building And Equipment	Land, Building and Equipment We record land at cost, and record building and equipment at cost less accumulated depreciation. Equipment held under finance leases also is classified as property and equipment with the related lease obligations recorded as liabilities. We capitalize and amortize costs for internally developed computer software during the application development stage. These costs generally consist of external consulting fees and internal payroll-related costs. Our depreciation is based on estimated useful lives (ranging from three We monitor land, building and equipment and software assets for potential impairments. Indicators of potential impairments may include a significant decrease in the fair values of the assets, considerable cost overruns on projects, a change in legal factors or business climate or other factors that indicate that the carrying amount may not be recoverable or useful. There were no recorded land, building and equipment impairments for 2021, 2020 or 2019.
Finance Receivables	Finance Receivables Our leasing subsidiary provides auto and equipment direct financing (leases and loans) to commercial and individual clients. We generally transfer ownership of the property to the client as the terms of the leases expire. Our lease contracts contain bargain purchase options. We account for these leases and loans as sales-type leases. We capitalize and amortize lease or loan origination costs over the life of the financing, using the effective interest method. These costs may include, but are not limited to finder fees, broker fees, filing fees and the cost of credit reports. We record income as other revenues over the financing term using the effective interest method in the consolidated statements of income. An allowance for credit losses on finance receivables is updated and reviewed on a quarterly basis. At December 31, 2021 and 2020, the allowance, including changes in the amount for each period, was immaterial.
Employee Benefit Pension Plan	Employee Benefit Pension Plan We sponsor a qualified defined benefit pension plan that was modified during 2008. We closed entry into the pension plan, and only participants 40 years of age or older could elect to remain in the plan. Our pension expenses are based on certain actuarial assumptions and also are composed of several components that are determined using the projected unit credit actuarial cost method. Refer to Note 13, Employee Retirement Benefits, for more information about our defined benefit pension plan.
Stock-Based Compensation	Share-Based Compensation We grant qualified and nonqualified share-based compensation under authorized plans. The stock options generally vest on a graded scale over three years following the date of grant and are exercisable over 10-year periods. We grant service-based restricted stock units that cliff vest three years after the date of grant as well as service-based restricted stock units that vest ratably over the three
Goodwill and Intangible Assets, Policy	Goodwill and Intangible Assets We recognize goodwill and intangible assets generated through acquisitions within other assets in the consolidated balance sheets. Goodwill arises when the fair value of consideration transferred exceeds the fair value of the net identifiable assets acquired at the acquisition date. Goodwill and intangible assets with an indefinite life are not amortized. Intangible assets with a definite life are amortized on a straight-line basis over the estimated useful lives as follows: broker relationships, 15 years; internally developed technology, five years; value of business acquired, over the remaining coverage period of the underlying insurance contracts, which expired during 2020. We test for impairments on an annual basis or more frequently if events or circumstances indicate that the asset might be impaired. The company performed its annual impairment test on goodwill and intangibles at September 30, which did not result in the recognition of an impairment loss. The company held goodwill of $30 million and intangible assets with an indefinite life of $31 million at December 31, 2021 and 2020, respectively.
Subsequent Events	Subsequent EventsThere were no subsequent events requiring adjustment to the consolidated financial statements or disclosure.
Accounting Updates	Pending Accounting Updates ASU 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued ASU 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . ASU 2018-12 requires changes to the measurement and disclosure of long-duration contracts. In November 2020, the FASB issued an ASU that delayed the effective date of ASU 2018-12 to interim and annual reporting periods beginning after December 15, 2022. We plan to adopt these ASUs on a modified retrospective basis on January 1, 2023, with a transition date of January 1, 2021. Related to the company's term and whole life products included in life policy reserves, the new guidance requires that cash flow assumptions be reviewed at least annually to determine any necessary updates. Additionally, the discount rate assumption is required to be updated quarterly based on upper-medium grade fixed-income instrument yields (market value discount rates). The life policy reserves balance is adjusted through insurance losses and contract holders' benefits for cash flow assumption updates and through AOCI for discount rate updates. These ASUs also amend the previous guidance related to life deferred policy acquisition costs by requiring amortization of those costs on a constant level basis for a group of contracts that approximates straight-line and the removal of shadow deferred policy acquisition costs for universal life and deferred annuity products. These ASUs also require entities to provide additional disclosures including disaggregated rollforwards of the life policy and investment contract reserves, separate account liabilities and life deferred policy acquisition costs. Management has identified that the requirement to measure term and whole life policy reserves using updated discount rates is expected to have a material impact on shareholders' equity, through an increase to life policy reserves and a decrease to AOCI, at the transition date. The company is in the process of addressing necessary implementation-related items, including modifications to reporting and analysis capabilities as well as actuarial systems and associated data processes. Further, the company continues to refine its accounting policy decisions associated with the new guidance. Additional impacts of these ASUs on our company's consolidated financial position, results of operations and cash flows are being further evaluated by management.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Investments [Abstract]
Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value of Fixed-maturity securities	The following table provides amortized cost, gross unrealized gains, gross unrealized losses and fair value for our fixed-maturity securities: (Dollars in millions) Amortized Gross unrealized Fair At December 31, 2021 gains losses Fixed-maturity securities: Corporate $ 7,043 $ 467 $ 13 $ 7,497 States, municipalities and political subdivisions 4,768 330 3 5,095 Commercial mortgage-backed 264 9 — 273 United States government 121 2 — 123 Foreign government 26 — — 26 Government-sponsored enterprises 8 — — 8 Total $ 12,230 $ 808 $ 16 $ 13,022 At December 31, 2020 Fixed-maturity securities: Corporate $ 6,281 $ 621 $ 7 $ 6,895 States, municipalities and political subdivisions 4,604 395 2 4,997 Commercial mortgage-backed 271 15 1 285 United States government 115 5 — 120 Foreign government 29 — — 29 Government-sponsored enterprises 12 — — 12 Total $ 11,312 $ 1,036 $ 10 $ 12,338
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 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 At December 31, 2021 Fair Unrealized Fair Unrealized Fair Unrealized Fixed-maturity securities: Corporate $ 861 $ 13 $ 15 $ — $ 876 $ 13 States, municipalities and political subdivisions 105 2 2 1 107 3 Commercial mortgage-backed 10 — 11 — 21 — United States government 48 — — — 48 — Foreign government 16 — — — 16 — Government-sponsored enterprises 7 — — — 7 — Total $ 1,047 $ 15 $ 28 $ 1 $ 1,075 $ 16 At December 31, 2020 Fixed-maturity securities: Corporate $ 330 $ 5 $ 46 $ 2 $ 376 $ 7 States, municipalities and political subdivisions 31 2 2 — 33 2 Commercial mortgage-backed 23 1 6 — 29 1 United States government 12 — — — 12 — Foreign government 10 — — — 10 — Government-sponsored enterprises — — — — — — Total $ 406 $ 8 $ 54 $ 2 $ 460 $ 10
Contractual Maturity Dates For Fixed-Maturity And Short-Term Investments	Contractual maturity dates for fixed-maturity investments were: (Dollars in millions) Amortized cost Fair % of fair value At December 31, 2021 Maturity dates: Due in one year or less $ 689 $ 697 5.4 % Due after one year through five years 3,675 3,871 29.7 Due after five years through ten years 3,404 3,678 28.2 Due after ten years 4,462 4,776 36.7 Total $ 12,230 $ 13,022 100.0 %
Investment Income, Realized Investment Gains And Losses And Change In Unrealized Investment Gains And Losses	The following table provides investment income and investment gains and losses: (Dollars in millions) Years ended December 31, 2021 2020 2019 Investment income: Interest $ 477 $ 455 $ 446 Dividends 246 220 201 Other 5 8 12 Total 728 683 659 Less investment expenses 14 13 13 Total $ 714 $ 670 $ 646 Investment gains and losses, net: Equity securities: Investment gains and losses on securities sold, net $ 4 $ 79 $ 26 Unrealized gains and losses on securities still held, net 2,278 841 1,626 Subtotal 2,282 920 1,652 Fixed-maturity securities: Gross realized gains 36 16 13 Gross realized losses (5) (3) (3) Write-down of impaired securities (1) (78) (9) Subtotal 30 (65) 1 Other 97 10 (3) Total $ 2,409 $ 865 $ 1,650

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 and 2020. We do not have any liabilities carried at fair value. (Dollars in millions) Quoted prices in Significant At December 31, 2021 Significant other Total Fixed maturities, available for sale: Corporate $ — $ 7,497 $ — $ 7,497 States, municipalities and political subdivisions — 5,095 — 5,095 Commercial mortgage-backed — 273 — 273 United States government 123 — — 123 Foreign government — 26 — 26 Government-sponsored enterprises — 8 — 8 Subtotal 123 12,899 — 13,022 Common equities 10,862 — — 10,862 Nonredeemable preferred equities — 453 — 453 Separate accounts taxable fixed maturities — 948 — 948 Top Hat savings plan mutual funds and common 64 — — 64 Total $ 11,049 $ 14,300 $ — $ 25,349 At December 31, 2020 Fixed maturities, available for sale: Corporate $ — $ 6,895 $ — $ 6,895 States, municipalities and political subdivisions — 4,997 — 4,997 Commercial mortgage-backed — 285 — 285 United States government 120 — — 120 Foreign government — 29 — 29 Government-sponsored enterprises — 12 — 12 Subtotal 120 12,218 — 12,338 Common equities 8,541 — — 8,541 Nonredeemable preferred equities — 315 — 315 Separate accounts taxable fixed maturities — 903 — 903 Top Hat savings plan mutual funds and common 51 — — 51 Total $ 8,712 $ 13,436 $ — $ 22,148
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 Significant other Significant Total At December 31, 2021 Life policy loans $ — $ — $ 44 $ 44 At December 31, 2020 Life policy loans $ — $ — $ 49 $ 49
Deferred Annuities and Structured Settlements
Fair Values of Deferred Annuities, Structured Settlements and Other Items	The following table shows fair value of our deferred annuities and structured settlements included in life policy and investment contract reserves: (Dollars in millions) Quoted prices in Significant other Significant Total At December 31, 2021 Deferred annuities $ — $ — $ 778 $ 778 Structured settlements — 201 — 201 Total $ — $ 201 $ 778 $ 979 At December 31, 2020 Deferred annuities $ — $ — $ 836 $ 836 Structured settlements — 227 — 227 Total $ — $ 227 $ 836 $ 1,063
Debt
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 Significant other Significant Total At December 31, 2021 Note payable $ — $ 54 $ — $ 54 6.900% senior debentures, due 2028 — 34 — 34 6.920% senior debentures, due 2028 — 501 — 501 6.125% senior notes, due 2034 — 510 — 510 Total $ — $ 1,099 $ — $ 1,099 At December 31, 2020 Note payable $ — $ 54 $ — $ 54 6.900% senior debentures, due 2028 — 35 — 35 6.920% senior debentures, due 2028 — 515 — 515 6.125% senior notes, due 2034 — 522 — 522 Total $ — $ 1,126 $ — $ 1,126

Property Casualty Loss and Lo_2

Property Casualty Loss and Loss Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Insurance [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) Years ended December 31, 2021 2020 2019 Gross loss and loss expense reserves, January 1 $ 6,677 $ 6,088 $ 5,646 Less reinsurance recoverable 277 342 238 Net loss and loss expense reserves, January 1 6,400 5,746 5,408 Net loss and loss expense reserves related to acquisition of Cincinnati Global at — — 246 Net incurred loss and loss expenses related to: Current accident year 4,024 3,968 3,600 Prior accident years (428) (131) (248) Total incurred 3,596 3,837 3,352 Net paid loss and loss expenses related to: Current accident year 1,379 1,493 1,462 Prior accident years 1,715 1,690 1,798 Total paid 3,094 3,183 3,260 Net loss and loss expense reserves, December 31 6,902 6,400 5,746 Plus reinsurance recoverable 327 277 342 Gross loss and loss expense reserves, December 31 $ 7,229 $ 6,677 $ 6,088
Reconciliation of Property casualty Incurred Losses and ALAE and Paid Losses and ALAE Development Information	The following table provides a reconciliation of the property casualty incurred losses and allocated loss adjustment expenses (ALAE) development and paid losses and ALAE development information at December 31, 2021. (Dollars in millions) Cumulative incurred losses Cumulative paid losses and ALAE as reported within the triangles, Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance Total liabilities for loss and ALAE, net of reinsurance Reinsurance recoverable on unpaid losses Total liabilities for gross loss and loss expense reserves Commercial casualty $ 5,383 $ 3,146 $ 90 $ 2,327 $ 33 $ 2,360 Workers' compensation 1,923 1,279 301 945 65 1,010 Commercial auto 2,203 1,515 34 722 4 726 Commercial property 3,118 2,698 17 437 46 483 Personal auto 1,802 1,552 10 260 32 292 Homeowner 2,169 1,893 5 281 8 289 Excess and surplus 1,021 496 1 526 21 547 Other lines 1,210 Total liabilities for loss and ALAE reserves 6,917 Unallocated loss adjustment expense reserves 312 Gross loss and loss expense reserves $ 7,229
Schedule of Incurred and Paid Losses and ALAE Development by Accident Year	The following table shows the commercial casualty incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of Accident Unaudited Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 $ 466 $ 414 $ 417 $ 394 $ 394 $ 404 $ 399 $ 397 $ 397 $ 397 $ 10 18 2013 448 443 431 416 413 407 391 386 385 17 20 2014 503 496 479 476 479 465 469 466 22 21 2015 533 526 529 516 508 502 504 42 21 2016 563 574 557 555 554 538 58 22 2017 610 597 577 571 555 68 21 2018 650 641 622 588 101 22 2019 672 643 607 141 20 2020 674 629 307 14 2021 714 492 10 Total $ 5,383 Cumulative paid losses and ALAE, net of reinsurance 2012 $ 27 $ 88 $ 170 $ 232 $ 288 $ 330 $ 346 $ 364 $ 374 $ 383 2013 35 90 159 232 286 312 337 348 355 2014 34 97 172 287 338 390 409 421 2015 38 108 200 287 362 404 424 2016 46 126 228 331 395 434 2017 48 122 234 320 392 2018 44 148 253 345 2019 39 134 259 2020 33 102 2021 31 Total 3,146 All outstanding liabilities before 2012, net of reinsurance 90 Liabilities for loss and ALAE, net of reinsurance $ 2,327 The following table shows the workers’ compensation incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of Accident Unaudited Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 $ 265 $ 245 $ 234 $ 220 $ 213 $ 211 $ 209 $ 208 $ 207 $ 209 $ 20 21 2013 264 246 221 212 208 205 202 201 204 17 20 2014 261 233 214 203 201 198 197 202 17 19 2015 246 220 208 195 179 173 173 26 17 2016 230 218 206 188 183 183 24 16 2017 218 208 190 183 172 31 15 2018 222 207 199 186 34 15 2019 224 215 202 50 14 2020 204 190 68 11 2021 202 72 10 Total $ 1,923 Cumulative paid losses and ALAE, net of reinsurance 2012 $ 62 $ 121 $ 147 $ 162 $ 171 $ 175 $ 178 $ 180 $ 182 $ 183 2013 61 119 144 157 164 168 170 174 177 2014 56 110 134 148 157 162 165 168 2015 47 93 115 129 134 137 139 2016 46 97 119 131 141 146 2017 45 88 106 114 119 2018 48 95 115 127 2019 49 94 115 2020 37 68 2021 37 Total 1,279 All outstanding liabilities before 2012, net of reinsurance 301 Liabilities for loss and ALAE, net of reinsurance $ 945 The following table shows the commercial auto incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2017 2018 2019 2020 2021 2017 $ 451 $ 441 $ 443 $ 444 $ 449 $ 8 51 2018 453 442 442 440 15 49 2019 452 451 453 34 46 2020 424 391 86 36 2021 470 154 36 Total $ 2,203 Cumulative paid losses and ALAE, net of reinsurance 2017 $ 187 $ 266 $ 334 $ 381 $ 411 2018 184 266 337 378 2019 183 268 333 2020 154 214 2021 179 Total 1,515 All outstanding liabilities before 2017, net of reinsurance 34 Liabilities for loss and ALAE, net of reinsurance $ 722 The following table shows the commercial property incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2017 2018 2019 2020 2021 2017 $ 587 $ 560 $ 556 $ 565 $ 572 $ 2 18 2018 630 603 590 597 6 18 2019 621 606 600 9 17 2020 855 742 43 23 2021 607 49 13 Total $ 3,118 Cumulative paid losses and ALAE, net of reinsurance 2017 $ 395 $ 522 $ 547 $ 560 $ 567 2018 386 559 576 589 2019 413 561 579 2020 489 637 2021 326 Total 2,698 All outstanding liabilities before 2017, net of reinsurance 17 Liabilities for loss and ALAE, net of reinsurance $ 437 The following table shows the personal auto incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2017 2018 2019 2020 2021 2017 $ 412 $ 394 $ 391 $ 393 $ 393 $ 1 109 2018 424 398 395 398 — 111 2019 399 383 380 2 102 2020 305 281 18 71 2021 350 51 75 Total $ 1,802 Cumulative paid losses and ALAE, net of reinsurance 2017 $ 256 $ 324 $ 358 $ 374 $ 383 2018 262 327 358 379 2019 250 314 346 2020 186 225 2021 219 Total 1,552 All outstanding liabilities before 2017, net of reinsurance 10 Liabilities for loss and ALAE, net of reinsurance $ 260 The following table shows the homeowner incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2017 2018 2019 2020 2021 2017 $ 356 $ 383 $ 385 $ 387 $ 389 $ 1 27 2018 370 386 387 388 5 24 2019 432 421 422 7 22 2020 497 475 16 23 2021 495 95 17 Total $ 2,169 Cumulative paid losses and ALAE, net of reinsurance 2017 $ 277 $ 356 $ 378 $ 384 $ 386 2018 268 368 378 381 2019 303 391 407 2020 326 434 2021 285 Total 1,893 All outstanding liabilities before 2017, net of reinsurance 5 Liabilities for loss and ALAE, net of reinsurance $ 281 The following table shows the excess and surplus lines incurred and paid losses and ALAE development by accident year. The table also shows the IBNR reserves plus expected development on reported losses and claim frequency: (Dollars in millions, reported claims in thousands) As of December 31, 2021 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 $ 67 $ 56 $ 49 $ 40 $ 37 $ 36 $ 35 $ 36 $ 35 $ 35 $ — 1 2013 74 64 54 45 42 41 41 41 40 1 2 2014 95 82 75 64 60 59 59 58 3 2 2015 96 81 73 67 65 66 65 4 2 2016 93 87 84 82 90 91 8 3 2017 104 95 95 94 94 13 3 2018 116 109 110 108 23 3 2019 137 135 141 41 3 2020 172 172 78 3 2021 217 129 3 Total $ 1,021 Cumulative paid losses and ALAE, net of reinsurance 2012 $ 9 $ 15 $ 19 $ 25 $ 29 $ 31 $ 32 $ 33 $ 34 $ 34 2013 7 12 20 27 32 34 37 39 39 2014 9 17 27 37 43 48 51 53 2015 8 19 29 41 51 54 56 2016 10 21 39 51 62 75 2017 11 23 41 57 68 2018 11 26 50 62 2019 13 34 55 2020 16 37 2021 17 Total 496 All outstanding liabilities before 2012, net of reinsurance 1 Liabilities for loss and ALAE, net of reinsurance $ 526
Schedule of Average Annual Percentage Payout of Incurred Claims	The following table shows the average annual percentage payout of incurred losses for the commercial casualty line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 6 7 8 9 10 Average annual percentage payout 7.2% 14.4% 18.8% 18.1% 13.2% 8.8% 4.6% 3.4% 2.3% 1.7% The following table shows the average annual percentage payout of incurred losses for the workers’ compensation line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 6 7 8 9 10 Average annual percentage payout 25.3% 25.3% 11.6% 6.5% 3.9% 2.3% 1.4% 1.3% 1.3% 0.3% The following table shows the average annual percentage payout of incurred losses for the commercial auto line of business. Commercial auto includes both physical damage and liability losses. A majority of the incurred losses paid after year 2 are the result of liability losses. Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 Average annual percentage payout 40.3% 17.7% 15.2% 9.8% 6.7% The following table shows the average annual percentage payout of incurred losses for the commercial property line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 Average annual percentage payout 64.4% 24.0% 3.4% 2.2% 1.3% The following table shows the average annual percentage payout of incurred losses for the personal auto line of business. Personal auto includes both physical damage and liability losses. A majority of the incurred losses paid after year 2 are the result of liability losses. Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 Average annual percentage payout 65.1% 16.1% 8.3% 4.8% 2.2% The following table shows the average annual percentage payout of incurred losses for the homeowner line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 Average annual percentage payout 67.6% 22.4% 4.0% 1.2% 0.5% The following table shows the average annual percentage payout of incurred losses for the excess and surplus lines insurance segment. Excess and surplus lines consist mostly of commercial casualty and commercial property coverages. A majority of the incurred losses paid after year 2 are the result of commercial casualty losses. Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 6 7 8 9 10 Average annual percentage payout 13.1% 13.9% 17.6% 15.6% 12.3% 8.4% 4.3% 3.0% 1.1% 0.4%

Life Policy And Investment Co_2

Life Policy And Investment Contract Reserves (Tables)	12 Months Ended
	Dec. 31, 2021
Liability for Future Policy Benefit, before Reinsurance [Abstract]
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) At December 31, 2021 2020 Life policy reserves: Ordinary/traditional life $ 1,376 $ 1,301 Other 52 52 Subtotal 1,428 1,353 Investment contract reserves: Deferred annuities 762 761 Universal life 679 647 Structured settlements 136 145 Other 9 9 Subtotal 1,586 1,562 Total life policy and investment contract reserves $ 3,014 $ 2,915

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2021
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) Years ended December 31, 2021 2020 2019 Property casualty: Deferred policy acquisition costs asset, January 1 $ 542 $ 512 $ 464 Capitalized deferred policy acquisition costs 1,211 1,087 1,034 Amortized deferred policy acquisition costs (1,151) (1,057) (986) Deferred policy acquisition costs asset, December 31 $ 602 $ 542 $ 512 Life: Deferred policy acquisition costs asset, January 1 $ 263 $ 262 $ 274 Capitalized deferred policy acquisition costs 59 58 61 Amortized deferred policy acquisition costs (46) (49) (48) Shadow deferred policy acquisition costs 27 (8) (25) Deferred policy acquisition costs asset, December 31 $ 303 $ 263 $ 262 Consolidated: Deferred policy acquisition costs asset, January 1 $ 805 $ 774 $ 738 Capitalized deferred policy acquisition costs 1,270 1,145 1,095 Amortized deferred policy acquisition costs (1,197) (1,106) (1,034) Shadow deferred policy acquisition costs 27 (8) (25) Deferred policy acquisition costs asset, December 31 $ 905 $ 805 $ 774

Long-Term Debt And Lease Obli_2

Long-Term Debt And Lease Obligation (Tables)	12 Months Ended
	Dec. 31, 2021
Long-term Debt and Lease Obligation [Abstract]
Book Value And Principal Amounts Of Long-Term Debt	This table summarizes the principal amounts of our long-term debt excluding unamortized discounts, none of which are encumbered by rating triggers: (Dollars in millions) Book value Principal amount Interest rate Year of At December 31, At December 31, 2021 2020 2021 2020 6.900% 1998 Senior debentures, due 2028 $ 27 $ 27 $ 28 $ 28 6.920% 2005 Senior debentures, due 2028 391 391 391 391 6.125% 2004 Senior notes, due 2034 371 370 374 374 Total $ 789 $ 788 $ 793 $ 793
Lease Obligations Over Next Five Years and Thereafter	interest for finance and operating leases: (Dollars in millions) Years ended December 31, 2022 2023 2024 2025 2026 2027 and thereafter Finance lease obligations $ 14 $ 12 $ 8 $ 6 $ 3 $ 2 Operating lease obligations 4 2 2 2 1 1 Total lease obligations $ 18 $ 14 $ 10 $ 8 $ 4 $ 3
Other Operating and Finance Lease Disclosure [Table Text Block]	The following table provides lease cost and other information: (Dollars in millions) Years ended December 31, 2021 2020 2019 Lease cost: Finance lease cost $ 15 $ 15 $ 9 Operating lease cost 4 4 4 Total lease cost $ 19 $ 19 $ 13 Other information finance leases: Finance cash outflows $ 15 $ 15 $ 15 Weighted average discount rate 2.46 % 2.62 % 2.96 % Weighted average remaining lease term in years 3.45 3.67 3.65 Other information operating leases: Operating cash outflows $ 4 $ 8 $ 8 Weighted average discount rate 2.86 % 3.65 % 3.69 % Weighted average remaining lease term in years 4.37 4.84 4.71

Shareholders' Equity And Divi_2

Shareholders' Equity And Dividend Restrictions (Tables)	12 Months Ended
	Dec. 31, 2021
Shareholders Equity And Dividend Restrictions [Abstract]
Change In AOCI Includes Changes In Unrealized Gains And Losses On Investments And Pension Obligations	The changes from the beginning of year to the end of year are the result of changes to other comprehensive income or loss (OCI). (Dollars in millions) 2021 2020 2019 Before Income Net Before Income Net Before Income Net Investments: AOCI, January 1 $ 1,026 $ 215 $ 811 $ 590 $ 123 $ 467 $ 46 $ 9 $ 37 OCI before investment gains and losses, net, recognized in net income (204) (44) (160) 371 78 293 545 115 430 Investment gains and losses, net, recognized in net income (30) (6) (24) 65 14 51 (1) (1) — OCI (234) (50) (184) 436 92 344 544 114 430 AOCI, December 31 $ 792 $ 165 $ 627 $ 1,026 $ 215 $ 811 $ 590 $ 123 $ 467 Pension obligations: AOCI, January 1 $ (41) $ (7) $ (34) $ (9) $ — $ (9) $ (16) $ (2) $ (14) OCI excluding amortization recognized in net income 62 12 50 (35) (7) (28) 6 2 4 Amortization recognized in net income 6 2 4 3 — 3 1 — 1 OCI 68 14 54 (32) (7) (25) 7 2 5 AOCI, December 31 $ 27 $ 7 $ 20 $ (41) $ (7) $ (34) $ (9) $ — $ (9) Life deferred acquisition costs, life policy reserves and other: AOCI, January 1 $ (10) $ (2) $ (8) $ (13) $ (3) $ (10) $ (1) $ — $ (1) OCI before investment gains and losses, net, recognized in net income 11 2 9 3 1 2 (15) (3) (12) Investment gains and losses, net, recognized in net income — — — — — — 3 — 3 OCI 11 2 9 3 1 2 (12) (3) (9) AOCI, December 31 $ 1 $ — $ 1 $ (10) $ (2) $ (8) $ (13) $ (3) $ (10) Summary of AOCI: AOCI, January 1 $ 975 $ 206 $ 769 $ 568 $ 120 $ 448 $ 29 $ 7 $ 22 Investments OCI (234) (50) (184) 436 92 344 544 114 430 Pension obligations OCI 68 14 54 (32) (7) (25) 7 2 5 Life deferred acquisition costs, life policy reserves and other OCI 11 2 9 3 1 2 (12) (3) (9) Total OCI (155) (34) (121) 407 86 321 539 113 426 AOCI, December 31 $ 820 $ 172 $ 648 $ 975 $ 206 $ 769 $ 568 $ 120 $ 448

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2021
Reinsurance Disclosures [Abstract]
Property Casualty Insurance Assumed And Ceded Business	The table below summarizes our consolidated property casualty insurance net written premiums, earned premiums and incurred loss and loss expenses: (Dollars in millions) Years ended December 31, 2021 2020 2019 Direct written premiums $ 6,229 $ 5,756 $ 5,477 Assumed written premiums 515 335 244 Ceded written premiums (265) (227) (205) Net written premiums $ 6,479 $ 5,864 $ 5,516 Direct earned premiums $ 5,996 $ 5,623 $ 5,340 Assumed earned premiums 443 285 199 Ceded earned premiums (255) (217) (205) Earned premiums $ 6,184 $ 5,691 $ 5,334 Direct incurred loss and loss expenses $ 3,352 $ 3,699 $ 3,402 Assumed incurred loss and loss expenses 366 184 117 Ceded incurred loss and loss expenses (122) (46) (167) Incurred loss and loss expenses $ 3,596 $ 3,837 $ 3,352
Life Insurance Assumed And Ceded Business	The table below summarizes our consolidated life insurance earned premiums and contract holders' benefits incurred: (Dollars in millions) Years ended December 31, 2021 2020 2019 Direct earned premiums $ 374 $ 362 $ 341 Ceded earned premiums (76) (73) (71) Earned premiums $ 298 $ 289 $ 270 Direct contract holders' benefits incurred $ 423 $ 359 $ 359 Ceded contract holders' benefits incurred (83) (62) (73) Contract holders' benefits incurred $ 340 $ 297 $ 286

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Components Of Deferred Tax Assets And Liabilities	The significant components of deferred tax assets and liabilities included in the consolidated balance sheets at December 31 were as follows: (Dollars in millions) At December 31, 2021 2020 Deferred tax assets: Unearned premiums $ 131 $ 119 Loss and loss expense reserves 92 81 Net operating loss on international earnings 34 26 Deferred international earnings 31 45 Other 50 41 Deferred tax assets before valuation allowance 338 312 Valuation allowance for international operations 53 56 Deferred tax assets net of valuation allowance 285 256 Deferred tax liabilities: Investment gains and other, net 1,684 1,240 Deferred acquisition costs 155 143 Life policy reserves 116 121 Investments 38 13 Other 36 38 Total gross deferred tax liabilities 2,029 1,555 Net deferred income tax liability $ 1,744 $ 1,299
Schedule of Income before Income Tax	For financial reporting purposes, income (loss) before income taxes includes the following components: (Dollars in millions) For the years ended December 31, 2021 2020 2019 United States $ 3,644 $ 1,521 $ 2,440 International 26 (22) 32 Total income before income taxes $ 3,670 $ 1,499 $ 2,472
Schedule of The Provision (Benefit) of Income Taxes	The provision for income taxes consists of: (Dollars in millions) For the years ended December 31, 2021 2020 2019 Provision (benefit) for income taxes: Current – United States federal $ 248 $ 147 $ 137 International (1) — (5) Total current 247 147 132 Deferred – United States federal 477 136 338 International — — 5 Total deferred 477 136 343 Total provision for income taxes $ 724 $ 283 $ 475
Differences Between The 35 Percent Statutory Income Tax Rate And Effective Income Tax Rate	The differences between the 21% statutory federal income tax rate and our effective income tax rate were as follows: (Dollars in millions) Years ended December 31, 2021 2020 2019 Tax at statutory rate: $ 771 21.0 % $ 315 21.0 % $ 519 21.0 % Increase (decrease) resulting from: Tax-exempt income from municipal bonds (20) (0.5) (20) (1.3) (19) (0.8) Dividend received exclusion (20) (0.5) (17) (1.1) (16) (0.6) Other (7) (0.3) 5 0.3 (9) (0.4) Provision for income taxes $ 724 19.7 % $ 283 18.9 % $ 475 19.2 %
Reconciliation of Cincinnati Global Valuation Allowance	The following is a tabular reconciliation of the total amounts of our Cincinnati Global valuation allowance. (Dollars in millions) Years ended December 31, 2021 2020 2019 Valuation allowance, January 1 $ 56 $ 41 $ — Acquisition accounting amount — — 55 Current year operations (3) 15 (14) Valuation allowance, December 31 $ 53 $ 56 $ 41

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2021
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) Years ended December 31, 2021 2020 2019 Numerator: Net income—basic and diluted $ 2,946 $ 1,216 $ 1,997 Denominator: Basic weighted-average common shares outstanding 161.0 161.2 163.2 Effect of share-based awards: Stock options 1.1 0.7 1.2 Nonvested shares 0.6 0.5 0.7 Diluted weighted-average shares 162.7 162.4 165.1 Earnings per share: Basic $ 18.29 $ 7.55 $ 12.24 Diluted 18.10 7.49 12.10 Number of anti-dilutive share-based awards 0.8 1.4 —

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2021
Weighted-Average Assumptions Used for Benefit Obligations	This is a summary of the weighted-average assumptions used to determine our benefit obligations at December 31 for the plans: Qualified Pension Plan SERP 2021 2020 2021 2020 Discount rate 2.97 % 2.68 % 2.90 % 2.52 % Rate of compensation increase 2.25-3.25 2.25-3.25 2.25-3.25 2.25-3.25
Assumptions of Net Benefit Costs	This is a summary of the weighted-average assumptions used to determine our net periodic benefit cost for the plans: Qualified Pension Plan SERP 2021 2020 2019 2021 2020 2019 Discount rate 2.68 % 3.40 % 4.34 % 2.52 % 3.33 % 4.25 % Expected return on plan assets 7.00 7.00 7.00 n/a n/a n/a Rate of compensation increase 2.25-3.25 2.25-3.25 2.25-3.25 2.25-3.25 2.25-3.25 2.25-3.25
Benefit Obligation Activity Using An Actuarial Measurement Date For Qualified Plan And SERP	Benefit obligation activity using an actuarial measurement date for our qualified pension plan and SERP at December 31 follows: (Dollars in millions) At December 31, 2021 2020 Change in projected benefit obligation: Benefit obligation, January 1 $ 387 $ 350 Service cost 10 9 Interest cost 10 12 Actuarial (gain) loss (5) 51 Benefits paid (41) (35) Other 1 — Projected benefit obligation, December 31 $ 362 $ 387 Change in plan assets: Fair value of plan assets, January 1 $ 357 $ 354 Actual return on plan assets 78 34 Employer contribution 3 4 Benefits paid (41) (35) Fair value of plan assets, December 31 $ 397 $ 357 Funded status, December 31 $ 35 $ (30) Accumulated benefit obligation $ 338 $ 360
Reconciliation Of The Funded Status For Qualified Plan And SERP	A reconciliation follows of the funded status for our qualified plan and SERP at the end of the measurement period to the amounts recognized in the consolidated balance sheets at December 31: (Dollars in millions) At December 31, 2021 2020 Pension amounts recognized in the consolidated balance sheets: Other assets (liability) $ 35 $ (30) Total $ 35 $ (30) Pension amounts recognized in accumulated other comprehensive income: Net actuarial (gain) loss $ (27) $ 41 Total $ (27) $ 41
Components Of Net Periodic Benefit Cost As Well As Other Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Income For Qualified Plan And SERP	Below are the components of our net periodic benefit cost, as well as other changes in plan assets and benefit obligations recognized in other comprehensive income for our qualified plan and SERP at December 31: (Dollars in millions) Years ended December 31, 2021 2020 2019 Net periodic benefit cost: Service cost $ 10 $ 9 $ 8 Non-service costs (benefit): Interest cost 10 12 13 Expected return on plan assets (21) (21) (20) Amortization of actuarial loss and prior service cost 6 3 1 Other 1 3 1 Net periodic benefit cost $ 6 $ 6 $ 3 Other changes in plan assets and benefit obligations recognized in other Current year actuarial (gain) loss $ (62) $ 38 $ (5) Amortization of actuarial loss (7) (6) (2) Current year prior service cost 1 — — Total recognized in other comprehensive (income) loss $ (68) $ 32 $ (7) Total recognized in net periodic benefit cost and other comprehensive $ (62) $ 38 $ (4)
Fair Value Hierarchy Of Assets Measured At Fair Value On A Recurring Basis	(Dollars in millions) Quoted prices in Significant other Significant Total At December 31, 2021 Fixed maturities, available for sale: United States government $ 31 $ — $ — $ 31 Corporate — 11 — 11 States, municipalities and political subdivisions — 7 — 7 Total fixed maturities, available for sale 31 18 — 49 Common equities 332 — — 332 Total $ 363 $ 18 $ — $ 381 At December 31, 2020 Fixed maturities, available for sale: United States government $ 31 $ — $ — $ 31 Corporate — 20 — 20 States, municipalities and political subdivisions — 9 — 9 Total fixed maturities, available for sale 31 29 — 60 Common equities 266 — — 266 Total $ 297 $ 29 $ — $ 326
Expected Future Benefit Payments For Qualified Plan And SERP	We expect to make the following benefit payments for our qualified plan and SERP, reflecting expected future service: (Dollars in millions) Years ended December 31, 2022 2023 2024 2025 2026 2027 - 2031 Expected future benefit payments $ 29 $ 25 $ 27 $ 29 $ 34 $ 162

Statutory Accounting Informat_2

Statutory Accounting Information (Tables)	12 Months Ended
	Dec. 31, 2021
Staturory Accounting Information [Abstract]
Statutory Net Income And Statutory Surplus	The statutory net income and statutory capital and surplus are presented below: (Dollars in millions) Net income Capital and surplus Years ended December 31, At December 31, 2021 2020 2019 2021 2020 The Cincinnati Insurance Company $ 929 $ 466 $ 558 $ 7,247 $ 5,838 The Cincinnati Casualty Company 15 14 13 500 456 The Cincinnati Indemnity Company 5 3 3 126 115 The Cincinnati Specialty Underwriters Insurance Company 47 42 62 571 528 The Cincinnati Life Insurance Company 41 27 19 270 241

Share-Based Associate Compens_2

Share-Based Associate Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Stock Option Information	Below is a summary of option information for the year 2021: (Dollars in millions, except exercise price. Shares in thousands) Shares Weighted- Aggregate Weighted-average Outstanding option shares at January 1, 2021 3,601 $ 72.55 Granted 464 96.32 Exercised (415) 50.51 Forfeited or expired (98) 62.00 Outstanding option shares at December 31, 2021 3,552 78.52 $ 126 5.97 years Options exercisable at end of period 2,599 $ 70.99 $ 112 5.07 years
Restricted Stock Unit Information	elow is a summary of service-based and performance-based share information, assuming a target payout for performance-based shares, for the year 2021: (Shares in thousands) Service-based Weighted- Performance-based Weighted- Nonvested at January 1, 2021 696 $ 81.56 147 $ 84.64 Granted 243 89.29 106 86.13 Vested (274) 67.96 (114) 63.29 Forfeited or canceled (31) 89.73 — — Nonvested at December 31, 2021 634 90.01 139 103.16
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Assumptions Used In Option Grants Issued	The following weighted average assumptions were used in determining fair value for option grants issued: 2021 2020 2019 Weighted-average expected term 7-9 years 7-8 years 7-8 years Expected volatility 25.56-27.81% 16.89-17.13% 14.49-15.39% Dividend yield 2.62% 2.15% 2.61% Risk-free rates 0.97-1.26% 1.40-1.41% 2.62-2.64% Weighted-average fair value of options granted during the period $19.64 $15.45 $11.73
Performance Based Shares
Share-based Compensation Arrangement by Share-based Payment Award
Assumptions Used In Option Grants Issued	he following assumptions were used in determining fair value for performance-based grants issued: 2021 2020 2019 Expected term 2.85 years 2.86 years 2.86 years Expected volatility 29.50-47.26% 15.88-25.13% 15.10-25.00% Dividend yield 2.62% 2.15% 2.61% Risk-free rates 0.20% 1.30% 2.48%

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment information is summarized in the following table: (Dollars in millions) Years ended December 31, 2021 2020 2019 Revenues: Commercial lines insurance Commercial casualty $ 1,270 $ 1,165 $ 1,102 Commercial property 1,043 1,010 958 Commercial auto 794 755 707 Workers' compensation 268 271 300 Other commercial 299 275 252 Commercial lines insurance premiums 3,674 3,476 3,319 Fee revenues 4 3 5 Total commercial lines insurance 3,678 3,479 3,324 Personal lines insurance Personal auto 609 615 621 Homeowner 726 658 607 Other personal 207 190 176 Personal lines insurance premiums 1,542 1,463 1,404 Fee revenues 4 4 4 Total personal lines insurance 1,546 1,467 1,408 Excess and surplus lines insurance 398 325 278 Fee revenues 2 2 2 Total excess and surplus lines insurance 400 327 280 Life insurance premiums 298 289 270 Fee revenues 5 2 4 Total life insurance 303 291 274 Investments Investment income, net of expenses 714 670 646 Investment gains and losses, net 2,409 865 1,650 Total investment revenue 3,123 1,535 2,296 Other Premiums 570 427 333 Other 10 10 9 Total other revenue 580 437 342 Total revenues $ 9,630 $ 7,536 $ 7,924 Income (loss) before income taxes: Insurance underwriting results Commercial lines insurance $ 598 $ 64 $ 241 Personal lines insurance 97 47 8 Excess and surplus lines insurance 44 34 53 Life insurance (16) 11 1 Investments 3,018 1,433 2,197 Other (71) (90) (28) Total income before income taxes $ 3,670 $ 1,499 $ 2,472 December 31, December 31, Identifiable assets: 2021 2020 Property casualty insurance $ 4,421 $ 3,838 Life insurance 1,590 1,661 Investments 24,481 21,332 Other 895 711 Total $ 31,387 $ 27,542

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Narrative) (Details)	Feb. 28, 2019	Dec. 31, 2021USD ($)independent_insurance_agencystatesubsidiaryreporting_locations	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2008
Significant Accounting Policies
Income Tax Examination, Penalties Expense		$ 0
Number of operating subsidaries | subsidiary		2
Number of independent insurance agencies | independent_insurance_agency		1,921
Number of reporting locations | reporting_locations		2,721
Number of states in which entity operates | state		46
Excess (deficit) of Separate Account Fair Value over (under) Contract Holder Account Value		$ 79,000,000	$ 99,000,000
Minimum participant age to elect					40 years
Other invested assets		329,000,000	348,000,000
Depreciation expense		33,000,000	33,000,000	$ 25,000,000
Land, building and equipment impairments		0	0	$ 0
Premium Receivable, Allowance for Credit Loss		14,000,000	19,000,000
Premium Receivable, Allowance for Credit Loss, Property Casualty Premiums Receivable			9,000,000
Covid-19 pandemic-related incurred loss and expenses		$ (7,000,000)	85,000,000
Minimum
Significant Accounting Policies
Estimated useful lives		3 years
Maximum
Significant Accounting Policies
Estimated useful lives		39 years 6 months
Life Policy Loans
Significant Accounting Policies
Other invested assets		$ 31,000,000	33,000,000
Venture Capital Funds
Significant Accounting Policies
Other invested assets		227,000,000	128,000,000
Real Estate Investment
Significant Accounting Policies
Other invested assets		36,000,000	25,000,000
Other than Securities Investment
Significant Accounting Policies
Other invested assets		$ 35,000,000	$ 162,000,000
10 Largest States
Significant Accounting Policies
Generated percentage of total earned premiums		52.10%	53.30%
Ohio, Largest State
Significant Accounting Policies
Generated percentage of total earned premiums		14.40%	14.80%
Illinois, North Carolina, Georgia, Pennsylvania, Indiana and New York | Minimum
Significant Accounting Policies
Generated percentage of total earned premiums		4.00%
Illinois, North Carolina, Georgia, Pennsylvania, Indiana and New York | Maximum
Significant Accounting Policies
Generated percentage of total earned premiums		6.00%
Largest Single Agency Relationship
Significant Accounting Policies
Generated percentage of total earned premiums		0.60%
All Other | Maximum
Significant Accounting Policies
Generated percentage of total earned premiums		5.00%
Stock Options
Significant Accounting Policies
Weighted-average remaining contractual life for options expected to vest		10 years
Property Casualty Insurance Segment
Significant Accounting Policies
Number of operating subsidaries | subsidiary		2
Stock Options
Significant Accounting Policies
Awards vesting period		3 years
Restricted Stock Units (RSUs)
Significant Accounting Policies
Awards vesting period		3 years
Cincinnati Global
Significant Accounting Policies
Goodwill		$ 30,000,000	$ 30,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets		$ 31,000,000	$ 31,000,000
Broker Relationships and Internally developed technology | Cincinnati Global | Minimum
Significant Accounting Policies
Useful life	5 years
Broker Relationships and Internally developed technology | Cincinnati Global | Maximum
Significant Accounting Policies
Useful life	15 years

Investments (Narrative) (Detail

Investments (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)security	Dec. 31, 2020USD ($)security	Dec. 31, 2019USD ($)
Gain (Loss) on Investments
Largest single common stock holding	$ 862	$ 644
Largest equity holdings to total equity portfolio	7.90%	7.50%
Largest equity holdings to total portfolio	3.50%	3.00%
Assets Held by Insurance Regulators	$ 119	$ 121
Collateral at fair value	116	$ 98
Fair Value of Owned Common Equities Held in Trust Account	84
Impaired securities			3
Available-for-sale securities, continuous unrealized loss position, 12 months or longer, aggregate loss			$ 3
Number of Impaired Securities with Allowance for Credit Losses		0
Equity Securities at Fair Value	$ 11,315	$ 8,856
Fixed Maturities
Gain (Loss) on Investments
Number of securities total unrealized loss in an unrealized loss position for 12 months or more			38
Number of securities below 70 percent of amortized cost	0	0	0
Number Of Impaired Securities Intended to be Sold | security	5	14
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss 3	$ 16	$ 10
Number Of Securities Continuous Unrealized Loss Position | security	278	128

Investments (Analysis Of Cost O

Investments (Analysis Of Cost Or Amortized Cost Gross Unrealized Gains And Losses And Fair Value For Investments) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities
Total	$ 12,230	$ 11,312
Fair value of fixed maturities	13,022	12,338
Fixed Maturities
Schedule of Available-for-sale Securities
Total	12,230	11,312
Fixed maturities, unrealized gains	808	1,036
Fixed maturities, unrealized losses	16	10
Fair value of fixed maturities	13,022	12,338
Fixed Maturities | Corporate Securities
Schedule of Available-for-sale Securities
Total	7,043	6,281
Fixed maturities, unrealized gains	467	621
Fixed maturities, unrealized losses	13	7
Fair value of fixed maturities	7,497	6,895
Fixed Maturities | States, Municipalities and Political Subdivisions
Schedule of Available-for-sale Securities
Total	4,768	4,604
Fixed maturities, unrealized gains	330	395
Fixed maturities, unrealized losses	3	2
Fair value of fixed maturities	5,095	4,997
Fixed Maturities | Commercial Mortgage Backed Securities
Schedule of Available-for-sale Securities
Total	264	271
Fixed maturities, unrealized gains	9	15
Fixed maturities, unrealized losses	0	1
Fair value of fixed maturities	273	285
Fixed Maturities | United States Government
Schedule of Available-for-sale Securities
Total	121	115
Fixed maturities, unrealized gains	2	5
Fixed maturities, unrealized losses	0	0
Fair value of fixed maturities	123	120
Fixed Maturities | Foreign Government
Schedule of Available-for-sale Securities
Total	26	29
Fixed maturities, unrealized gains	0	0
Fixed maturities, unrealized losses	0	0
Fair value of fixed maturities	26	29
Fixed Maturities | Government-Sponsored Enterprises
Schedule of Available-for-sale Securities
Total	8	12
Fixed maturities, unrealized gains	0	0
Fixed maturities, unrealized losses	0	0
Fair value of fixed maturities	$ 8	$ 12

Investments (Fair Values And Un

Investments (Fair Values And Unrealized Losses By Investment Category And By The Duration Of The Securities' Continuous Unrealized Loss Position) (Details) - Fixed Maturities - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Investments, Unrealized Loss Position
Less than 12 months fair value	$ 1,047	$ 406
Less than 12 Months, Unrealized losses	15	8
12 months or more fair value	28	54
12 Months or more, unrealized losses	1	2
Total fair value	1,075	460
Total Unrealized Losses	16	10
Corporate Securities
Investments, Unrealized Loss Position
Less than 12 months fair value	861	330
Less than 12 Months, Unrealized losses	13	5
12 months or more fair value	15	46
12 Months or more, unrealized losses	0	2
Total fair value	876	376
Total Unrealized Losses	13	7
States, Municipalities and Political Subdivisions
Investments, Unrealized Loss Position
Less than 12 months fair value	105	31
Less than 12 Months, Unrealized losses	2	2
12 months or more fair value	2	2
12 Months or more, unrealized losses	1	0
Total fair value	107	33
Total Unrealized Losses	3	2
Commercial Mortgage Backed Securities
Investments, Unrealized Loss Position
Less than 12 months fair value	10	23
Less than 12 Months, Unrealized losses	0	1
12 months or more fair value	11	6
12 Months or more, unrealized losses	0	0
Total fair value	21	29
Total Unrealized Losses	0	1
United States Government
Investments, Unrealized Loss Position
Less than 12 months fair value	48	12
Less than 12 Months, Unrealized losses	0	0
12 months or more fair value	0	0
12 Months or more, unrealized losses	0	0
Total fair value	48	12
Total Unrealized Losses	0	0
Foreign government
Investments, Unrealized Loss Position
Less than 12 months fair value	16	10
Less than 12 Months, Unrealized losses	0	0
12 months or more fair value	0	0
12 Months or more, unrealized losses	0	0
Total fair value	16	10
Total Unrealized Losses	0	0
Government-Sponsored Enterprises
Investments, Unrealized Loss Position
Less than 12 months fair value	7	0
Less than 12 Months, Unrealized losses	0	0
12 months or more fair value	0	0
12 Months or more, unrealized losses	0	0
Total fair value	7	0
Total Unrealized Losses	$ 0	$ 0

Investments (Contractual Maturi

Investments (Contractual Maturity Dates For Fixed-Maturity And Short-Term Investments) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Amortized cost
Due in one year or less	$ 689
Due after one year through five years	3,675
Due after five years through ten years	3,404
Due after ten years	4,462
Total	12,230	$ 11,312
Fair value
Due in one year or less	697
Due after one year through five years	3,871
Due after five years through ten years	3,678
Due after ten years	4,776
Total	$ 13,022	$ 12,338
% of fair value
Due in one year or less	5.40%
Due after one year through five years	29.70%
Due after five years through ten years	28.20%
Due after ten years	36.70%
Total	100.00%

Investments (Investment Income

Investments (Investment Income Realized Investment Gains And Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investment income:
Interest	$ 477	$ 455	$ 446
Dividends	246	220	201
Other	5	8	12
Total	728	683	659
Less investment expenses	14	13	13
Total	714	670	646
Gain (Loss) on Sale of Investments	2,353	851	1,640
Investment gains and losses, net:
Other	97	10	(3)
Total	2,409	865	1,650
Fixed Maturities
Investment gains and losses, net:
Gross realized gains	36	16	13
Gross realized losses	(5)	(3)	(3)
Write-down of impaired securities	(1)	(78)	(9)
Total	30	(65)	1
Equity Securities
Investment income:
Gain (Loss) on Sale of Investments	4	79	26
Unrealized Gain (Loss) on Investments	2,278	841	1,626
Investment gains and losses, net:
Total	$ 2,282	$ 920	$ 1,652

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Principal amount of debt	$ 793	$ 793
Recorded outstanding principal and interest for these life policy loans	98	95
Loss and loss expense reserves	3,014	2,915
Life policy and investment contract reserves	3,014	2,915
Investment contract reserves
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loss and loss expense reserves	1,586	1,562
Life policy and investment contract reserves	1,586	1,562
Deferred Annuity | Investment contract reserves
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loss and loss expense reserves	762	761
Life policy and investment contract reserves	762	761
Structured Settlement Annuity | Investment contract reserves
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loss and loss expense reserves	136	145
Life policy and investment contract reserves	136	145
Life Policy Loans
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Recorded outstanding principal and interest for these life policy loans	31	33
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Cash and Cash Equivalents, Fair Value Disclosure	$ 1,139	$ 900

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Hierarchy For Assets Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	$ 13,022	$ 12,338
Separate accounts taxable fixed maturities	959	952
Total	25,349	22,148
Top Hat Savings Plan - Mutual Funds and Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Top Hat savings plan mutual funds and common equity (included in Other assets)	64	51
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	11,049	8,712
Level 1 | Top Hat Savings Plan - Mutual Funds and Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Top Hat savings plan mutual funds and common equity (included in Other assets)	64	51
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	14,300	13,436
Level 2 | Top Hat Savings Plan - Mutual Funds and Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Top Hat savings plan mutual funds and common equity (included in Other assets)	0	0
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	0	0
Level 3 | Top Hat Savings Plan - Mutual Funds and Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Top Hat savings plan mutual funds and common equity (included in Other assets)	0	0
Fixed Maturities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	13,022	12,338
Fixed Maturities | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	7,497	6,895
Fixed Maturities | States, Municipalities and Political Subdivisions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	5,095	4,997
Fixed Maturities | Commercial Mortgage Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	273	285
Fixed Maturities | United States Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	123	120
Fixed Maturities | Foreign Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	26	29
Fixed Maturities | Government-Sponsored Enterprises
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	8	12
Fixed Maturities | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	123	120
Fixed Maturities | Level 1 | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 1 | States, Municipalities and Political Subdivisions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 1 | Commercial Mortgage Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 1 | United States Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	123	120
Fixed Maturities | Level 1 | Foreign Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 1 | Government-Sponsored Enterprises
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	12,899	12,218
Fixed Maturities | Level 2 | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	7,497	6,895
Fixed Maturities | Level 2 | States, Municipalities and Political Subdivisions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	5,095	4,997
Fixed Maturities | Level 2 | Commercial Mortgage Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	273	285
Fixed Maturities | Level 2 | United States Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 2 | Foreign Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	26	29
Fixed Maturities | Level 2 | Government-Sponsored Enterprises
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	8	12
Fixed Maturities | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 3 | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 3 | States, Municipalities and Political Subdivisions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 3 | Commercial Mortgage Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 3 | United States Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 3 | Foreign Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Fixed Maturities | Level 3 | Government-Sponsored Enterprises
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Equity Securities | Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	10,862	8,541
Equity Securities | Nonredeemable Preferred Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	453	315
Equity Securities | Level 1 | Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	10,862	8,541
Equity Securities | Level 1 | Nonredeemable Preferred Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	0	0
Equity Securities | Level 2 | Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	0	0
Equity Securities | Level 2 | Nonredeemable Preferred Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	453	315
Equity Securities | Level 3 | Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	0	0
Equity Securities | Level 3 | Nonredeemable Preferred Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	0	0
Taxable Fixed Maturities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Separate accounts taxable fixed maturities	948	903
Taxable Fixed Maturities | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Separate accounts taxable fixed maturities	0	0
Taxable Fixed Maturities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Separate accounts taxable fixed maturities	948	903
Taxable Fixed Maturities | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Separate accounts taxable fixed maturities	$ 0	$ 0

Fair Value Measurements (Fair_2

Fair Value Measurements (Fair Value of Note Payable and Long-Term Debt) (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of note payable	$ 54	$ 54
Total	1,099	1,126
6.900% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	$ 34	$ 35
Interest rate	6.90%	6.90%
6.920% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	$ 501	$ 515
Interest rate	6.92%	6.92%
6.125% Senior Notes, Due 2034
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	$ 510	$ 522
Interest rate	6.125%	6.125%
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of note payable	$ 0	$ 0
Total	0	0
Level 1 | 6.900% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	0	0
Level 1 | 6.920% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	0	0
Level 1 | 6.125% Senior Notes, Due 2034
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	0	0
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of note payable	54	54
Total	1,099	1,126
Level 2 | 6.900% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	34	35
Level 2 | 6.920% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	501	515
Level 2 | 6.125% Senior Notes, Due 2034
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	510	522
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of note payable	0	0
Total	0	0
Level 3 | 6.900% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	0	0
Level 3 | 6.920% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	0	0
Level 3 | 6.125% Senior Notes, Due 2034
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	$ 0	$ 0

Fair Value Measurements (Fair_3

Fair Value Measurements (Fair Value of Life Policy) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of life policy loans	$ 44	$ 49
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of life policy loans	0	0
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of life policy loans	0	0
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of life policy loans	$ 44	$ 49

Fair Value Measurements (Fair_4

Fair Value Measurements (Fair Value Of Deferred Annuities, Structured Settlements And Other Items) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	$ 979	$ 1,063
Deferred Annuities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	778	836
Structured Settlements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	201	227
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	0	0
Level 1 | Deferred Annuities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	0	0
Level 1 | Structured Settlements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	0	0
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	201	227
Level 2 | Deferred Annuities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	0	0
Level 2 | Structured Settlements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	201	227
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	778	836
Level 3 | Deferred Annuities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	778	836
Level 3 | Structured Settlements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	$ 0	$ 0

Property Casualty Loss And Lo_3

Property Casualty Loss And Loss Expenses (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	$ 7,229,000,000	$ 6,677,000,000	$ 6,088,000,000	$ 5,646,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(428,000,000)	(131,000,000)	(248,000,000)
Net loss and loss expense reserves for asbestos and environmental claims	$ 88,000,000	$ 85,000,000
Percentage of reserves for asbestos and environmental claims	2.00%	2.00%
Maximum
Property Casualty Insurance Underwriters
Reinsurance retention	$ 500,000
Life and Health Loss Reserves
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	76,000,000	$ 69,000,000	59,000,000
Commercial Insurance
Property Casualty Insurance Underwriters
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(353,000,000)	(95,000,000)	(192,000,000)
Commercial Insurance | Commercial Casualty Line
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	2,360,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(120,000,000)	(54,000,000)	(78,000,000)
Commercial Insurance | Commercial Property Line
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	483,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(97,000,000)	(16,000,000)	(25,000,000)
Commercial Insurance | Workers' Compensation Line
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	1,010,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(66,000,000)	(39,000,000)	(77,000,000)
Commercial Insurance | Commercial Auto Line
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	726,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(43,000,000)	17,000,000	(6,000,000)
Personal Insurance
Property Casualty Insurance Underwriters
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(50,000,000)	(18,000,000)	(27,000,000)
Personal Insurance | Personal Auto
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	292,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(31,000,000)	(15,000,000)	(26,000,000)
Personal Insurance | Homeowner
Property Casualty Insurance Underwriters
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(14,000,000)	(5,000,000)	11,000,000
Excess and Surplus Lines Insurance
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	547,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	7,000,000	7,000,000	(11,000,000)
Reinsurance assumed and other non segment
Property Casualty Insurance Underwriters
Prior year claims and claims adjustments expense, (favorable) and unfavorable	$ (32,000,000)	$ (25,000,000)	$ (18,000,000)

Consolidated Property Casualty

Consolidated Property Casualty Loss And Loss Expense Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 28, 2019
Business Acquisition
Gross loss and loss expense reserves, January 1	$ 6,677	$ 6,088	$ 5,646
Less reinsurance recoverable	277	342	238
Net loss and loss expense reserves, January 1	6,400	5,746	5,408
Net incurred loss and loss expenses related to:
Current accident year	4,024	3,968	3,600
Prior accident years	(428)	(131)	(248)
Total incurred	3,596	3,837	3,352
Net paid loss and loss expenses related to:
Current accident year	1,379	1,493	1,462
Prior accident years	1,715	1,690	1,798
Total paid	3,094	3,183	3,260
Net loss and loss expense reserves, December 31	6,902	6,400	5,746
Plus reinsurance recoverable	327	277	342
Gross loss and loss expense reserves, December 31	$ 7,229	$ 6,677	$ 6,088
Cincinnati Global
Business Acquisition
Net loss and loss expense reserves related to acquisition of Cincinnati Global at February 28, 2019				$ 246

Reconciliation of Incurred Loss

Reconciliation of Incurred Losses and ALAE (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	$ 3,118
Total liabilities for loss and ALAE, net of reinsurance	6,917
Reinsurance recoverable on unpaid losses	327	$ 277	$ 342	$ 238
Unallocated loss adjustment expense reserves	312
Total liabilities for gross loss and loss expense reserves	7,229	$ 6,677	$ 6,088	$ 5,646
Other Short-duration Insurance Product Line
Liability for Claims and Claims Adjustment Expense
Total liabilities for loss and ALAE, net of reinsurance	1,210
Commercial Insurance | Commercial Casualty Line
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	5,383
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	3,146
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	90
Total liabilities for loss and ALAE, net of reinsurance	2,327
Reinsurance recoverable on unpaid losses	33
Total liabilities for gross loss and loss expense reserves	2,360
Commercial Insurance | Workers' Compensation Line
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	1,923
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	1,279
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	301
Total liabilities for loss and ALAE, net of reinsurance	945
Reinsurance recoverable on unpaid losses	65
Total liabilities for gross loss and loss expense reserves	1,010
Commercial Insurance | Commercial Auto Line
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	2,203
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	1,515
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	34
Total liabilities for loss and ALAE, net of reinsurance	722
Reinsurance recoverable on unpaid losses	4
Total liabilities for gross loss and loss expense reserves	726
Commercial Insurance | Commercial Property Line
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	3,118
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	2,698
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	17
Total liabilities for loss and ALAE, net of reinsurance	437
Reinsurance recoverable on unpaid losses	46
Total liabilities for gross loss and loss expense reserves	483
Personal Insurance | Personal Auto
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	1,802
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	1,552
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	10
Total liabilities for loss and ALAE, net of reinsurance	260
Reinsurance recoverable on unpaid losses	32
Total liabilities for gross loss and loss expense reserves	292
Personal Insurance | Home Owner Line
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	2,169
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	1,893
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	5
Total liabilities for loss and ALAE, net of reinsurance	281
Reinsurance recoverable on unpaid losses	8
Total liabilities for gross loss and loss expense reserves	289
Excess and Surplus Lines Insurance
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	1,021
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	496
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	1
Total liabilities for loss and ALAE, net of reinsurance	526
Reinsurance recoverable on unpaid losses	21
Total liabilities for gross loss and loss expense reserves	$ 547

Claims Development - Commercial

Claims Development - Commercial Casualty (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2021USD ($)reported_claim	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,118
Liabilities for loss and ALAE, net of reinsurance	6,917
Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	5,383
Cumulative paid losses and ALAE, net of reinsurance	3,146
All outstanding liabilities before, net of reinsurance	90
Liabilities for loss and ALAE, net of reinsurance	2,327
2012 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	397	$ 397	$ 397	$ 399	$ 404	$ 394	$ 394	$ 417	$ 414	$ 466
Total of incurred but not reported liabilities plus expected development on reported losses	$ 10
Cumulative number of reported claims | reported_claim	18
Cumulative paid losses and ALAE, net of reinsurance	$ 383	374	364	346	330	288	232	170	88	$ 27
2013 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	385	386	391	407	413	416	431	443	448
Total of incurred but not reported liabilities plus expected development on reported losses	$ 17
Cumulative number of reported claims | reported_claim	20
Cumulative paid losses and ALAE, net of reinsurance	$ 355	348	337	312	286	232	159	90	$ 35
2014 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	466	469	465	479	476	479	496	503
Total of incurred but not reported liabilities plus expected development on reported losses	$ 22
Cumulative number of reported claims | reported_claim	21
Cumulative paid losses and ALAE, net of reinsurance	$ 421	409	390	338	287	172	97	$ 34
2015 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	504	502	508	516	529	526	533
Total of incurred but not reported liabilities plus expected development on reported losses	$ 42
Cumulative number of reported claims | reported_claim	21
Cumulative paid losses and ALAE, net of reinsurance	$ 424	404	362	287	200	108	$ 38
2016 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	538	554	555	557	574	563
Total of incurred but not reported liabilities plus expected development on reported losses	$ 58
Cumulative number of reported claims | reported_claim	22
Cumulative paid losses and ALAE, net of reinsurance	$ 434	395	331	228	126	$ 46
2017 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	555	571	577	597	610
Total of incurred but not reported liabilities plus expected development on reported losses	$ 68
Cumulative number of reported claims | reported_claim	21
Cumulative paid losses and ALAE, net of reinsurance	$ 392	320	234	122	$ 48
2018 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	588	622	641	650
Total of incurred but not reported liabilities plus expected development on reported losses	$ 101
Cumulative number of reported claims | reported_claim	22
Cumulative paid losses and ALAE, net of reinsurance	$ 345	253	148	$ 44
2019 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	607	643	672
Total of incurred but not reported liabilities plus expected development on reported losses	$ 141
Cumulative number of reported claims | reported_claim	20
Cumulative paid losses and ALAE, net of reinsurance	$ 259	134	$ 39
2020 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	629	674
Total of incurred but not reported liabilities plus expected development on reported losses	$ 307
Cumulative number of reported claims | reported_claim	14
Cumulative paid losses and ALAE, net of reinsurance	$ 102	$ 33
2021 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	714
Total of incurred but not reported liabilities plus expected development on reported losses	$ 492
Cumulative number of reported claims | reported_claim	10
Cumulative paid losses and ALAE, net of reinsurance	$ 31

Claims Development - Workers Co

Claims Development - Workers Compensation (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2021USD ($)reported_claim	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,118
Liabilities for loss and ALAE, net of reinsurance	6,917
Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	1,923
Cumulative paid losses and ALAE, net of reinsurance	1,279
All outstanding liabilities before, net of reinsurance	301
Liabilities for loss and ALAE, net of reinsurance	945
2012 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	209	$ 207	$ 208	$ 209	$ 211	$ 213	$ 220	$ 234	$ 245	$ 265
Total of incurred but not reported liabilities plus expected development on reported losses	$ 20
Cumulative number of reported claims | reported_claim	21
Cumulative paid losses and ALAE, net of reinsurance	$ 183	182	180	178	175	171	162	147	121	$ 62
2013 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	204	201	202	205	208	212	221	246	264
Total of incurred but not reported liabilities plus expected development on reported losses	$ 17
Cumulative number of reported claims | reported_claim	20
Cumulative paid losses and ALAE, net of reinsurance	$ 177	174	170	168	164	157	144	119	$ 61
2014 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	202	197	198	201	203	214	233	261
Total of incurred but not reported liabilities plus expected development on reported losses	$ 17
Cumulative number of reported claims | reported_claim	19
Cumulative paid losses and ALAE, net of reinsurance	$ 168	165	162	157	148	134	110	$ 56
2015 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	173	173	179	195	208	220	246
Total of incurred but not reported liabilities plus expected development on reported losses	$ 26
Cumulative number of reported claims | reported_claim	17
Cumulative paid losses and ALAE, net of reinsurance	$ 139	137	134	129	115	93	$ 47
2016 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	183	183	188	206	218	230
Total of incurred but not reported liabilities plus expected development on reported losses	$ 24
Cumulative number of reported claims | reported_claim	16
Cumulative paid losses and ALAE, net of reinsurance	$ 146	141	131	119	97	$ 46
2017 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	172	183	190	208	218
Total of incurred but not reported liabilities plus expected development on reported losses	$ 31
Cumulative number of reported claims | reported_claim	15
Cumulative paid losses and ALAE, net of reinsurance	$ 119	114	106	88	$ 45
2018 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	186	199	207	222
Total of incurred but not reported liabilities plus expected development on reported losses	$ 34
Cumulative number of reported claims | reported_claim	15
Cumulative paid losses and ALAE, net of reinsurance	$ 127	115	95	$ 48
2019 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	202	215	224
Total of incurred but not reported liabilities plus expected development on reported losses	$ 50
Cumulative number of reported claims | reported_claim	14
Cumulative paid losses and ALAE, net of reinsurance	$ 115	94	$ 49
2020 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	190	204
Total of incurred but not reported liabilities plus expected development on reported losses	$ 68
Cumulative number of reported claims | reported_claim	11
Cumulative paid losses and ALAE, net of reinsurance	$ 68	$ 37
2021 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	202
Total of incurred but not reported liabilities plus expected development on reported losses	$ 72
Cumulative number of reported claims | reported_claim	10
Cumulative paid losses and ALAE, net of reinsurance	$ 37

Claims Development - Commerci_2

Claims Development - Commercial Auto (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2021USD ($)reported_claim	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,118
Liabilities for loss and ALAE, net of reinsurance	6,917
Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	2,203
Cumulative paid losses and ALAE, net of reinsurance	1,515
All outstanding liabilities before, net of reinsurance	34
Liabilities for loss and ALAE, net of reinsurance	722
2017 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	449	$ 444	$ 443	$ 441	$ 451
Total of incurred but not reported liabilities plus expected development on reported losses	$ 8
Cumulative number of reported claims | reported_claim	51
Cumulative paid losses and ALAE, net of reinsurance	$ 411	381	334	266	$ 187
2018 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	440	442	442	453
Total of incurred but not reported liabilities plus expected development on reported losses	$ 15
Cumulative number of reported claims | reported_claim	49
Cumulative paid losses and ALAE, net of reinsurance	$ 378	337	266	$ 184
2019 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	453	451	452
Total of incurred but not reported liabilities plus expected development on reported losses	$ 34
Cumulative number of reported claims | reported_claim	46
Cumulative paid losses and ALAE, net of reinsurance	$ 333	268	$ 183
2020 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	391	424
Total of incurred but not reported liabilities plus expected development on reported losses	$ 86
Cumulative number of reported claims | reported_claim	36
Cumulative paid losses and ALAE, net of reinsurance	$ 214	$ 154
2021 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	470
Total of incurred but not reported liabilities plus expected development on reported losses	$ 154
Cumulative number of reported claims | reported_claim	36
Cumulative paid losses and ALAE, net of reinsurance	$ 179

Claims Development - Commerci_3

Claims Development - Commercial Property (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2021USD ($)reported_claim	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,118
Liabilities for loss and ALAE, net of reinsurance	6,917
Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	3,118
Cumulative paid losses and ALAE, net of reinsurance	2,698
All outstanding liabilities before, net of reinsurance	17
Liabilities for loss and ALAE, net of reinsurance	437
2017 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	572	$ 565	$ 556	$ 560	$ 587
Total of incurred but not reported liabilities plus expected development on reported losses	$ 2
Cumulative number of reported claims | reported_claim	18
Cumulative paid losses and ALAE, net of reinsurance	$ 567	560	547	522	$ 395
2018 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	597	590	603	630
Total of incurred but not reported liabilities plus expected development on reported losses	$ 6
Cumulative number of reported claims | reported_claim	18
Cumulative paid losses and ALAE, net of reinsurance	$ 589	576	559	$ 386
2019 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	600	606	621
Total of incurred but not reported liabilities plus expected development on reported losses	$ 9
Cumulative number of reported claims | reported_claim	17
Cumulative paid losses and ALAE, net of reinsurance	$ 579	561	$ 413
2020 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	742	855
Total of incurred but not reported liabilities plus expected development on reported losses	$ 43
Cumulative number of reported claims | reported_claim	23
Cumulative paid losses and ALAE, net of reinsurance	$ 637	$ 489
2021 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	607
Total of incurred but not reported liabilities plus expected development on reported losses	$ 49
Cumulative number of reported claims | reported_claim	13
Cumulative paid losses and ALAE, net of reinsurance	$ 326

Claims Development - Personal A

Claims Development - Personal Auto (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2021USD ($)reported_claim	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,118
Liabilities for loss and ALAE, net of reinsurance	6,917
Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	1,802
Cumulative paid losses and ALAE, net of reinsurance	1,552
All outstanding liabilities before, net of reinsurance	10
Liabilities for loss and ALAE, net of reinsurance	260
2017 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	393	$ 393	$ 391	$ 394	$ 412
Total of incurred but not reported liabilities plus expected development on reported losses	$ 1
Cumulative number of reported claims | reported_claim	109
Cumulative paid losses and ALAE, net of reinsurance	$ 383	374	358	324	$ 256
2018 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	398	395	398	424
Total of incurred but not reported liabilities plus expected development on reported losses	$ 0
Cumulative number of reported claims | reported_claim	111
Cumulative paid losses and ALAE, net of reinsurance	$ 379	358	327	$ 262
2019 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	380	383	399
Total of incurred but not reported liabilities plus expected development on reported losses	$ 2
Cumulative number of reported claims | reported_claim	102
Cumulative paid losses and ALAE, net of reinsurance	$ 346	314	$ 250
2020 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	281	305
Total of incurred but not reported liabilities plus expected development on reported losses	$ 18
Cumulative number of reported claims | reported_claim	71
Cumulative paid losses and ALAE, net of reinsurance	$ 225	$ 186
2021 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	350
Total of incurred but not reported liabilities plus expected development on reported losses	$ 51
Cumulative number of reported claims | reported_claim	75
Cumulative paid losses and ALAE, net of reinsurance	$ 219

Claims Development - Homeowner

Claims Development - Homeowner (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2021USD ($)reported_claim	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,118
Liabilities for loss and ALAE, net of reinsurance	6,917
Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	2,169
Cumulative paid losses and ALAE, net of reinsurance	1,893
All outstanding liabilities before, net of reinsurance	5
Liabilities for loss and ALAE, net of reinsurance	281
2017 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	389	$ 387	$ 385	$ 383	$ 356
Total of incurred but not reported liabilities plus expected development on reported losses	$ 1
Cumulative number of reported claims | reported_claim	27
Cumulative paid losses and ALAE, net of reinsurance	$ 386	384	378	356	$ 277
2018 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	388	387	386	370
Total of incurred but not reported liabilities plus expected development on reported losses	$ 5
Cumulative number of reported claims | reported_claim	24
Cumulative paid losses and ALAE, net of reinsurance	$ 381	378	368	$ 268
2019 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	422	421	432
Total of incurred but not reported liabilities plus expected development on reported losses	$ 7
Cumulative number of reported claims | reported_claim	22
Cumulative paid losses and ALAE, net of reinsurance	$ 407	391	$ 303
2020 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	475	497
Total of incurred but not reported liabilities plus expected development on reported losses	$ 16
Cumulative number of reported claims | reported_claim	23
Cumulative paid losses and ALAE, net of reinsurance	$ 434	$ 326
2021 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	495
Total of incurred but not reported liabilities plus expected development on reported losses	$ 95
Cumulative number of reported claims | reported_claim	17
Cumulative paid losses and ALAE, net of reinsurance	$ 285

Claims Development - Excess and

Claims Development - Excess and Surplus Lines (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2021USD ($)reported_claim	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,118
Liabilities for loss and ALAE, net of reinsurance	6,917
Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	1,021
Cumulative paid losses and ALAE, net of reinsurance	496
All outstanding liabilities before, net of reinsurance	1
Liabilities for loss and ALAE, net of reinsurance	526
2012 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	35	$ 35	$ 36	$ 35	$ 36	$ 37	$ 40	$ 49	$ 56	$ 67
Total of incurred but not reported liabilities plus expected development on reported losses	$ 0
Cumulative number of reported claims | reported_claim	1
Cumulative paid losses and ALAE, net of reinsurance	$ 34	34	33	32	31	29	25	19	15	$ 9
2013 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	40	41	41	41	42	45	54	64	74
Total of incurred but not reported liabilities plus expected development on reported losses	$ 1
Cumulative number of reported claims | reported_claim	2
Cumulative paid losses and ALAE, net of reinsurance	$ 39	39	37	34	32	27	20	12	$ 7
2014 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	58	59	59	60	64	75	82	95
Total of incurred but not reported liabilities plus expected development on reported losses	$ 3
Cumulative number of reported claims | reported_claim	2
Cumulative paid losses and ALAE, net of reinsurance	$ 53	51	48	43	37	27	17	$ 9
2015 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	65	66	65	67	73	81	96
Total of incurred but not reported liabilities plus expected development on reported losses	$ 4
Cumulative number of reported claims | reported_claim	2
Cumulative paid losses and ALAE, net of reinsurance	$ 56	54	51	41	29	19	$ 8
2016 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	91	90	82	84	87	93
Total of incurred but not reported liabilities plus expected development on reported losses	$ 8
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 75	62	51	39	21	$ 10
2017 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	94	94	95	95	104
Total of incurred but not reported liabilities plus expected development on reported losses	$ 13
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 68	57	41	23	$ 11
2018 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	108	110	109	116
Total of incurred but not reported liabilities plus expected development on reported losses	$ 23
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 62	50	26	$ 11
2019 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	141	135	137
Total of incurred but not reported liabilities plus expected development on reported losses	$ 41
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 55	34	$ 13
2020 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	172	172
Total of incurred but not reported liabilities plus expected development on reported losses	$ 78
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 37	$ 16
2021 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	217
Total of incurred but not reported liabilities plus expected development on reported losses	$ 129
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 17

Average Annual Payout (Details)

Average Annual Payout (Details)	Dec. 31, 2021
Commercial Insurance | Commercial Casualty Line
Short-duration Insurance Contracts, Historical Claims Duration
1	7.20%
2	14.40%
3	18.80%
4	18.10%
5	13.20%
6	8.80%
7	4.60%
8	3.40%
9	2.30%
10	1.70%
Commercial Insurance | Workers' Compensation Line
Short-duration Insurance Contracts, Historical Claims Duration
1	25.30%
2	25.30%
3	11.60%
4	6.50%
5	3.90%
6	2.30%
7	1.40%
8	1.30%
9	1.30%
10	0.30%
Commercial Insurance | Commercial Auto Line
Short-duration Insurance Contracts, Historical Claims Duration
1	40.30%
2	17.70%
3	15.20%
4	9.80%
5	6.70%
Commercial Insurance | Commercial Property Line
Short-duration Insurance Contracts, Historical Claims Duration
1	64.40%
2	24.00%
3	3.40%
4	2.20%
5	1.30%
Personal Insurance | Personal Auto
Short-duration Insurance Contracts, Historical Claims Duration
1	65.10%
2	16.10%
3	8.30%
4	4.80%
5	2.20%
Personal Insurance | Home Owner Line
Short-duration Insurance Contracts, Historical Claims Duration
1	67.60%
2	22.40%
3	4.00%
4	1.20%
5	0.50%
Excess and Surplus Lines Insurance
Short-duration Insurance Contracts, Historical Claims Duration
1	13.10%
2	13.90%
3	17.60%
4	15.60%
5	12.30%
6	8.40%
7	4.30%
8	3.00%
9	1.10%
10	0.40%

Life Policy And Investment Co_3

Life Policy And Investment Contract Reservess (Reserve In Addition To The Account Balance Based On Expected No-Lapse Guarantee Benefits And Expected Policy Assessments) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	$ 3,014	$ 2,915
Life Policy Reserves
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	1,428	1,353
Life Policy Reserves | Ordinary/Traditional Life
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	1,376	1,301
Life Policy Reserves | Other Life Policy Reserves
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	52	52
Investment contract reserves
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	1,586	1,562
Investment contract reserves | Deferred Annuity
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	762	761
Investment contract reserves | Universal Life
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	679	647
Investment contract reserves | Structured Settlement Annuity
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	136	145
Investment contract reserves | Other Investment Contract Reserves
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	$ 9	$ 9

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs (Deferred Policy Acquisition Costs And Asset Reconciliation Including The Amortized Deferred Policy Acquisition Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs [Roll Forward]
Deferred policy acquisition costs asset at January 1	$ 805	$ 774	$ 738
Capitalized deferred policy acquisition costs	1,270	1,145	1,095
Amortized deferred policy acquisition costs	(1,197)	(1,106)	(1,034)
Shadow deferred policy acquisition costs	27	(8)	(25)
Deferred policy acquisition costs asset at December 31	905	805	774
Life Insurance Segment
Deferred Costs [Roll Forward]
Deferred policy acquisition costs asset at January 1	263	262	274
Capitalized deferred policy acquisition costs	59	58	61
Amortized deferred policy acquisition costs	(46)	(49)	(48)
Shadow deferred policy acquisition costs	27	(8)	(25)
Deferred policy acquisition costs asset at December 31	303	263	262
Consolidated Property And Casualty Insurance Entity
Deferred Costs [Roll Forward]
Deferred policy acquisition costs asset at January 1	542	512	464
Capitalized deferred policy acquisition costs	1,211	1,087	1,034
Amortized deferred policy acquisition costs	(1,151)	(1,057)	(986)
Deferred policy acquisition costs asset at December 31	$ 602	$ 542	$ 512

Note Payable (Narrative) (Detai

Note Payable (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Disclosure
Number of lines of credit	1
Aggregate borrowing capacity	$ 300
Accordian feature available amount	300
Note payable	$ 54	$ 54
Ratio of debt-to-total capital maximum	0.35
Minimum
Debt Disclosure
Line of credit, interest rate	0.97%	1.03%
Maximum
Debt Disclosure
Line of credit, interest rate	1.03%	4.25%

Long-Term Debt And Lease Obli_3

Long-Term Debt And Lease Obligation (Book Value And Principal Amounts Of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument
Book value	$ 789	$ 788
Principal amount	$ 793	$ 793
6.900% Senior Debentures, Due 2028
Debt Instrument
Interest rate	6.90%	6.90%
Book value	$ 27	$ 27
Principal amount	$ 28	$ 28
6.920% Senior Debentures, Due 2028
Debt Instrument
Interest rate	6.92%	6.92%
Book value	$ 391	$ 391
Principal amount	$ 391	$ 391
6.125% Senior Notes, Due 2034
Debt Instrument
Interest rate	6.125%	6.125%
Book value	$ 371	$ 370
Principal amount	$ 374	$ 374

Long-Term Debt And Lease Obli_4

Long-Term Debt And Lease Obligation (Lease Payments Over Next Five Years) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Long-term Debt and Lease Obligation [Abstract]
Finance Lease 2022	$ 14
Finance Lease 2023	12
Finance Lease 2024	8
Finance Lease 2025	6
Finance Lease 2026	3
Finance Lease 2027 and thereafter	2
Operating Leases 2022	4
Operating Leases 2023	2
Operating Leases 2024	2
Operating Leases 2025	2
Operating Leases 2026	1
Operating Leases 2027 and thereafter	1
Total Finance and Operating Lease 2022	18
Total Finance and Operating Lease 2023	14
Total Finance and Operating Lease 2024	10
Total Finance and Operating Lease 2025	8
Total Finance and Operating Lease 2026	4
Total Finance and Operating Lease 2027 and thereafter	$ 3

Long-Term Debt And Lease Obli_5

Long-Term Debt And Lease Obligation Long-term Debt and Lease Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Long-term Debt and Lease Obligation [Abstract]
Finance Lease, Right-of-Use Asset, Amortization	$ 15	$ 15	$ 9
Operating Lease, Expense	4	4	4
Total Finance and Operating Lease Cost	19	19	13
Finance Lease, Principal Payments	$ 15	$ 15	$ 15
Finance Lease, Weighted Average Discount Rate, Percent	2.46%	2.62%	2.96%
Finance Lease, Weighted Average Remaining Lease Term	3 years 5 months 12 days	3 years 8 months 1 day	3 years 7 months 24 days
Operating Lease, Payments	$ 4	$ 8	$ 8
Operating Lease, Weighted Average Discount Rate, Percent	2.86%	3.65%	3.69%
Operating Lease, Weighted Average Remaining Lease Term	4 years 4 months 13 days	4 years 10 months 2 days	4 years 8 months 15 days

Long-Term Debt And Lease Obli_6

Long-Term Debt And Lease Obligation Long-Term Debt and Lease Obligation Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Total lease liability	$ 54	$ 57
Lessee, Operating Lease, Term of Contract	5 years
Total lease liability	$ 54	$ 57
Interest Costs Incurred	$ 3
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Finance Lease, Term of Contract	6 years
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Finance Lease, Term of Contract	3 years

Shareholders' Equity And Divi_3

Shareholders' Equity And Dividend Restrictions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Declared cash dividends, per share	$ 2.52	$ 2.40	$ 2.24
Dividend payment without prior regulatory approval, maximum percent of policyholder surplus	10.00%
Dividend payment without prior regulatory approval, percent of statutory net income for the prior calendar year	100.00%
Dividends might be paid during next year	$ 929
The Cincinnati Insurance Company
Cash Dividends Paid to Parent	583	$ 550	$ 625
Cincinnati Global
Cash Dividends Paid to Parent	$ 0	$ 0	$ 0

Shareholders' Equity And Divi_4

Shareholders' Equity And Dividend Restrictions (Change In AOCI Includes Changes In Unrealized Gains And Losses On Investments And Pension Obligations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income, Before Tax
Pension obligations OCI	$ 68	$ (32)	$ 7
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	769
AOCI, balance at the end of the period	648	769
Accumulated Net Unrealized Investment Gain (Loss)
Accumulated Other Comprehensive Income, Before Tax
AOCI, balance at the beginning of the period	1,026	590	46
OCI before investment gains and losses, net, recognized in net income	(204)	371	545
Investment gains and losses, net, recognized in net income	(30)	65	(1)
OCI	(234)	436	544
AOCI, balance at the end of the period	792	1,026	590
Accumulated Other Comprehensive Income, Income Tax
AOCI, balance at the beginning of the period	215	123	9
OCI before investment gains and losses, net, recognized in net income	(44)	78	115
Investment gains and losses, net, recognized in net income	(6)	14	(1)
OCI	(50)	92	114
AOCI, balance at the end of the period	165	215	123
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	811	467	37
OCI before investment gains and losses, net, recognized in net income	(160)	293	430
Investment gains and losses, net, recognized in net income	(24)	51	0
OCI	(184)	344	430
AOCI, balance at the end of the period	627	811	467
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income, Before Tax
AOCI, balance at the beginning of the period	(41)	(9)	(16)
OCI before investment gains and losses, net, recognized in net income	62	(35)	6
Investment gains and losses, net, recognized in net income	6	3	1
OCI	68	(32)	7
AOCI, balance at the end of the period	27	(41)	(9)
Accumulated Other Comprehensive Income, Income Tax
AOCI, balance at the beginning of the period	(7)	0	(2)
OCI before investment gains and losses, net, recognized in net income	12	(7)	2
Investment gains and losses, net, recognized in net income	2	0	0
OCI	14	(7)	2
AOCI, balance at the end of the period	7	(7)	0
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	(34)	(9)	(14)
OCI before investment gains and losses, net, recognized in net income	50	(28)	4
Investment gains and losses, net, recognized in net income	4	3	1
OCI	54	(25)	5
AOCI, balance at the end of the period	20	(34)	(9)
Accumulated Net Unrealized Gain (Loss) on Deferred Costs, Reserves And Other
Accumulated Other Comprehensive Income, Before Tax
AOCI, balance at the beginning of the period	(10)	(13)	(1)
OCI before investment gains and losses, net, recognized in net income	11	3	(15)
Investment gains and losses, net, recognized in net income	0	0	3
OCI	11	3	(12)
AOCI, balance at the end of the period	1	(10)	(13)
Accumulated Other Comprehensive Income, Income Tax
AOCI, balance at the beginning of the period	(2)	(3)	0
OCI before investment gains and losses, net, recognized in net income	2	1	(3)
Investment gains and losses, net, recognized in net income	0	0	0
OCI	2	1	(3)
AOCI, balance at the end of the period	0	(2)	(3)
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	(8)	(10)	(1)
OCI before investment gains and losses, net, recognized in net income	9	2	(12)
Investment gains and losses, net, recognized in net income	0	0	3
OCI	9	2	(9)
AOCI, balance at the end of the period	1	(8)	(10)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income, Before Tax
AOCI, balance at the beginning of the period	975	568	29
Investments OCI	(234)	436	544
Pension obligations OCI	68	(32)	7
Life deferred acquisition costs, life policy reserves and other OCI	11	3	(12)
Total OCI	(155)	407	539
AOCI, balance at the end of the period	820	975	568
Accumulated Other Comprehensive Income, Income Tax
AOCI, balance at the beginning of the period	206	120	7
Investments OCI	(50)	92	114
Pension obligations OCI	14	(7)	2
Life deferred acquisition costs, life policy reserves and other OCI	2	1	(3)
Total OCI	(34)	86	113
AOCI, balance at the end of the period	172	206	120
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	769	448	22
Investments OCI	(184)	344	430
Pension obligations OCI	54	(25)	5
Life deferred acquisition costs, life policy reserves and other OCI	9	2	(9)
Total OCI	(121)	321	426
AOCI, balance at the end of the period	$ 648	$ 769	$ 448

Reinsurance Reinsurance (Writte

Reinsurance Reinsurance (Written Consolidated Property Casualty Insurance Premiums On Assumed and Ceded Business) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Direct premiums earned	$ 6,370	$ 5,985	$ 5,681
Assumed premiums earned	443	285	199
Ceded premiums earned	(331)	(290)	(276)
Incurred loss and loss expenses	3,936	4,134	3,638
Consolidated Property And Casualty Insurance Entity
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Direct premiums written	6,229	5,756	5,477
Assumed premiums written	515	335	244
Ceded premiums written	(265)	(227)	(205)
Net written premiums	6,479	5,864	5,516
Direct premiums earned	5,996	5,623	5,340
Assumed premiums earned	443	285	199
Ceded premiums earned	(255)	(217)	(205)
Earned premiums	6,184	5,691	5,334
Direct incurred loss and loss expenses	3,352	3,699	3,402
Assumed incurred loss and loss expenses	366	184	117
Ceded incurred loss and loss expenses	(122)	(46)	(167)
Incurred loss and loss expenses	$ 3,596	$ 3,837	$ 3,352

Reinsurance (Earned Life Insura

Reinsurance (Earned Life Insurance Premiums On Ceded Business) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Direct premiums earned	$ 6,370	$ 5,985	$ 5,681
Ceded earned premiums	(331)	(290)	(276)
Insurance losses and contract holders' benefits	3,936	4,134	3,638
Life Insurance Segment
Direct premiums earned	374	362	341
Ceded earned premiums	(76)	(73)	(71)
Net earned premiums	298	289	270
Direct contract holders' benefits incurred	423	359	359
Ceded contract holders' benefits incurred	(83)	(62)	(73)
Insurance losses and contract holders' benefits	$ 340	$ 297	$ 286

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle
Unrecognized Tax Benefits	$ 34	$ 34	$ 34
Income taxes refund received	0	0	94
Net deferred tax assets, valuation allowance	53	56
United States
New Accounting Pronouncements or Change in Accounting Principle
Operating Loss Carryforwards	0	0
Cincinnati Global
New Accounting Pronouncements or Change in Accounting Principle
Net deferred tax assets	53
Net deferred tax assets, valuation allowance	53	56	41	$ 0
Decrease of deferred tax asset valuation allowance	(3)	15	$ (14)
Cincinnati Global
New Accounting Pronouncements or Change in Accounting Principle
Decrease of deferred tax assets	3
Decrease of deferred tax asset valuation allowance	3
Cincinnati Global | United Kingdom
New Accounting Pronouncements or Change in Accounting Principle
Operating Loss Carryforwards	130	108
Cincinnati Global | United States
New Accounting Pronouncements or Change in Accounting Principle
Operating Loss Carryforwards	$ 8	$ 26

Income Taxes (Components Of Def

Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Unearned premiums	$ 131	$ 119
Loss and loss expense reserves	92	81
Net operating loss on international earnings	34	26
Deferred international earnings	31	45
Other	50	41
Deferred tax assets before valuation allowance	338	312
Valuation allowance for international operations	53	56
Deferred tax assets net of valuation allowance	285	256
Deferred tax liabilities:
Investment gains and other, net	1,684	1,240
Deferred acquisition costs	155	143
Life policy reserves	116	121
Investments	38	13
Other	36	38
Total gross deferred tax liabilities	2,029	1,555
Net deferred income tax liability	$ 1,744	$ 1,299

Income Taxes Schedule of Income

Income Taxes Schedule of Income before Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
United States income before tax	$ 3,644	$ 1,521	$ 2,440
International income before income taxes	26	(22)	32
Total income before income taxes	$ 3,670	$ 1,499	$ 2,472

Income Taxes The Provision of I

Income Taxes The Provision of Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Current federal tax	$ 248	$ 147	$ 137
Current international tax	(1)	0	(5)
Total current tax	247	147	132
Deferred federal tax	477	136	338
Deferred international tax	0	0	5
Deferred income tax expense	477	136	343
Total provision for income taxes	$ 724	$ 283	$ 475

Income Taxes (Differences Betwe

Income Taxes (Differences Between The 21 Percent Statutory Income Tax Rate And Effective Income Tax Rate) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Tax at statutory rate:	$ 771	$ 315	$ 519
Tax at statutory rate (percentage):	21.00%	21.00%	21.00%
Increase (decrease) resulting from:
Tax-exempt income from municipal bonds	$ (20)	$ (20)	$ (19)
Dividend received exclusion	(20)	(17)	(16)
Other	(7)	5	(9)
Total provision for income taxes	$ 724	$ 283	$ 475
Tax at statutory rate:
Tax-exempt income from municipal bonds (percentage)	(0.50%)	(1.30%)	(0.80%)
Dividend received exclusion (percentage)	(0.50%)	(1.10%)	(0.60%)
Other (percentage)	(0.30%)	0.30%	(0.40%)
Effective tax, percentage	19.70%	18.90%	19.20%

Income Taxes Reconciliation of

Income Taxes Reconciliation of Cincinnati Global Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance
Valuation allowance at January 1	$ 56
Valuation allowance at December 31	53	$ 56
Cincinnati Global
Valuation Allowance
Valuation allowance at January 1	56	41	$ 0
Acquisition accounting amount	0	0	55
Current year operations	(3)	15	(14)
Valuation allowance at December 31	$ 53	$ 56	$ 41

Net Income Per Common Share (Ca

Net Income Per Common Share (Calculations For Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net Income	$ 2,946	$ 1,216	$ 1,997
Denominator:
Basic weighted-average common shares outstanding	161	161.2	163.2
Diluted weighted-average shares	162.7	162.4	165.1
Earnings per share:
Basic (in usd per share)	$ 18.29	$ 7.55	$ 12.24
Diluted (in usd per share)	$ 18.10	$ 7.49	$ 12.10
Number of anti-dilutive share-based awards	0.8	1.4	0
Stock Options
Denominator:
Effect of stock-based awards	1.1	0.7	1.2
Restricted Stock Units (RSUs)
Denominator:
Effect of stock-based awards	0.6	0.5	0.7

Employee Retirement Benefits (N

Employee Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2008
Defined Benefit Plans and Other Postretirement Benefit Plans
Minimum participant age to elect				40 years
Employer discretionary contribution amount	$ 22	$ 22	$ 19
Requisite service period	3 years
Actual return on plan assets	24.50%	11.40%
Pension plan assets at fair value	$ 397	$ 357	354
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans
Matching contribution to defined contribution plan	6.00%
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Percentage of increase decrease in benefit obligations discount rate	0.29%
Change In Net Benefit Cost Discount Rate Assumption	0.72%
Pension Plan | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans
Cash dividends paid (less than $1 million)	$ 1	1
Supplemental Employee Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Accrued employee benefit	$ 9	10
Percentage of increase decrease in benefit obligations discount rate	0.38%
Change In Net Benefit Cost Discount Rate Assumption	0.81%
Expected contribution by employer during 2021	$ 6
Top Hat Savings Plan - Mutual Funds and Common Equities
Defined Benefit Plans and Other Postretirement Benefit Plans
CFC Top Hat Savings Plan	64	51
Top Hat | Top Hat Savings Plan - Mutual Funds and Common Equities
Defined Benefit Plans and Other Postretirement Benefit Plans
CFC Top Hat Savings Plan	64	51
Top Hat | Top Hat Savings Plan - Mutual Funds and Common Equities | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans
Employer discretionary contribution amount	$ 1	$ 1	$ 1
Defined Benefit Plan, Equity Securities, Common Stock, Employer, Related Party
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension plan assets, shares	202,337	202,337
Pension plan assets, fair value	$ 23	$ 18
Defined Benefit Plan, Equity Securities, Common Stock, Employer, Related Party | Employee Stock
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension plan assets, shares		29,776
Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	87.00%
Pension plan assets at fair value	$ 332	$ 266
Equity Securities | Information Technology Sector
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	32.00%
Equity Securities | Financial Services Sector
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	20.00%
Equity Securities | Healthcare Sector
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	13.00%
Equity Securities | Industrial Sector
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	12.00%
Equity Securities | All Remaining Sectors
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	10.00%
Fixed Maturities
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension plan assets at fair value	$ 49	60
Fixed Maturities | United States Government
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	8.00%
Pension plan assets at fair value	$ 31	31
Fixed Maturities | Domestic Corporate Debt Securities
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	3.00%
Pension plan assets at fair value	$ 11	20
Fixed Maturities | States, Municipalities and Political Subdivisions
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	2.00%
Pension plan assets at fair value	$ 7	9
Cash and Cash Equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension plan assets at fair value	$ 16	$ 31

Employee Retirement Benefits (W

Employee Retirement Benefits (Weighted-Average Assumptions Used) (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Plan
Weighted average assumptions used to determine benefit obligations
Benefit obligation discount rate	2.97%	2.68%
Summary of the weighted average assumtions used to determine net periodic benefit cost
Discount rate	2.68%	3.40%	4.34%
Expected return on plan assets	7.00%	7.00%	7.00%
Pension Plan | Minimum
Weighted average assumptions used to determine benefit obligations
Benefit obligation rate of compensation increase	2.25%	2.25%
Summary of the weighted average assumtions used to determine net periodic benefit cost
Rate of compensation increase	2.25%	2.25%	2.25%
Pension Plan | Maximum
Weighted average assumptions used to determine benefit obligations
Benefit obligation rate of compensation increase	3.25%	3.25%
Summary of the weighted average assumtions used to determine net periodic benefit cost
Rate of compensation increase	3.25%	3.25%	3.25%
Supplemental Employee Retirement Plan
Weighted average assumptions used to determine benefit obligations
Benefit obligation discount rate	2.90%	2.52%
Summary of the weighted average assumtions used to determine net periodic benefit cost
Discount rate	2.52%	3.33%	4.25%
Supplemental Employee Retirement Plan | Minimum
Weighted average assumptions used to determine benefit obligations
Benefit obligation rate of compensation increase	2.25%	2.25%
Summary of the weighted average assumtions used to determine net periodic benefit cost
Rate of compensation increase	2.25%	2.25%	2.25%
Supplemental Employee Retirement Plan | Maximum
Weighted average assumptions used to determine benefit obligations
Benefit obligation rate of compensation increase	3.25%	3.25%
Summary of the weighted average assumtions used to determine net periodic benefit cost
Rate of compensation increase	3.25%	3.25%	3.25%

Employee Retirement Benefits (B

Employee Retirement Benefits (Benefit Obligation Activity Using An Actuarial Measurement Date For Qualified Plan And SERP) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in projected benefit obligation:
Benefit obligation, January 1	$ 387	$ 350
Service cost	10	9	$ 8
Interest cost	10	12	13
Actuarial (gain) loss	(5)	51
Benefits paid	(41)	(35)
Other	1	0
Projected benefit obligation, December 31	362	387	350
Change in plan assets:
Fair value of plan assets, January 1	357	354
Actual return on plan assets	78	34
Employer contribution	3	4
Benefits paid	(41)	(35)
Fair value of plan assets, December 31	397	357	$ 354
Funded status:
Funded status, December 31	35	(30)
Accumulated benefit obligation	$ 338	$ 360

Employee Retirement Benefits (R

Employee Retirement Benefits (Reconciliation Of The Funded Status For Qualified Plan And SERP) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Other assets	$ 35
Other liabilities		$ (30)
Total	35	(30)
Pension amounts recognized in accumulated other comprehensive income:
Net actuarial (gain) loss	(27)	41
Total	$ (27)	$ 41

Employee Retirement Benefits (C

Employee Retirement Benefits (Components Of Net Periodic Benefit Cost As Well As Other Changes In Plan Assets And Benefit Obligations Recognized In Other Comprehensive Income For Qualified Plan And SERP) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Service cost	$ 10	$ 9	$ 8
Interest cost	10	12	13
Expected return on plan assets	(21)	(21)	(20)
Amortization of actuarial loss and prior service cost	6	3	1
Other	1	3	1
Net periodic benefit cost	6	6	3
Current year actuarial (gain) loss	(62)	38	(5)
Amortization of actuarial loss	(7)	(6)	(2)
Current year prior service cost	1	0	0
Total recognized in other comprehensive (income) loss	(68)	32	(7)
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$ (62)	$ 38	$ (4)

Employee Retirement Benefits (F

Employee Retirement Benefits (Fair Value Hierarchy Of Assets Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	$ 397	$ 357	$ 354
Fixed Maturities
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	49	60
Fixed Maturities | Level 1
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	31	31
Fixed Maturities | Level 2
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	18	29
Fixed Maturities | Level 3
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Fixed Maturities | States, Municipalities and Political Subdivisions
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	7	9
Fixed Maturities | States, Municipalities and Political Subdivisions | Level 1
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Fixed Maturities | States, Municipalities and Political Subdivisions | Level 2
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	7	9
Fixed Maturities | States, Municipalities and Political Subdivisions | Level 3
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Fixed Maturities | Domestic Corporate Debt Securities
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	11	20
Fixed Maturities | Domestic Corporate Debt Securities | Level 1
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Fixed Maturities | Domestic Corporate Debt Securities | Level 2
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	11	20
Fixed Maturities | Domestic Corporate Debt Securities | Level 3
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Fixed Maturities | United States Government
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	31	31
Fixed Maturities | United States Government | Level 1
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	31	31
Fixed Maturities | United States Government | Level 2
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Fixed Maturities | United States Government | Level 3
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Equity Securities
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	332	266
Equity Securities | Level 1
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	332	266
Equity Securities | Level 2
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Equity Securities | Level 3
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	0	0
Fixed Maturities And Equity Securities
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	381	326
Fixed Maturities And Equity Securities | Level 1
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	363	297
Fixed Maturities And Equity Securities | Level 2
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	18	29
Fixed Maturities And Equity Securities | Level 3
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	$ 0	$ 0

Employee Retirement Benefits (E

Employee Retirement Benefits (Expected Future Benefit Payments For Qualified Plan And SERP) (Details) $ in Millions	Dec. 31, 2021USD ($)
Retirement Benefits [Abstract]
Expected future benefit payments, 2022	$ 29
Expected future benefit payments, 2023	25
Expected future benefit payments, 2024	27
Expected future benefit payments, 2025	29
Expected future benefit payments, 2026	34
Expected future benefit payments, 2027 - 2031	$ 162

Statutory Accounting Informat_3

Statutory Accounting Information (Schedule Of Statutory Net Income And Statutory Surplus (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
The Cincinnati Insurance Company
Statutory Accounting Practices
Statutory net income	$ 929	$ 466	$ 558
Capital and surplus	7,247	5,838
The Cincinnati Casualty Company
Statutory Accounting Practices
Statutory net income	15	14	13
Capital and surplus	500	456
The Cincinnati Indemnity Company
Statutory Accounting Practices
Statutory net income	5	3	3
Capital and surplus	126	115
The Cincinnati Specialty Underwriters Insurance Company
Statutory Accounting Practices
Statutory net income	47	42	62
Capital and surplus	571	528
The Cincinnati Life Insurance Company
Statutory Accounting Practices
Statutory net income	41	27	$ 19
Capital and surplus	$ 270	$ 241

Transactions With Affliated Par

Transactions With Affliated Parties (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction
Payment for commissions	$ 8	$ 7	$ 8
Earned premiums	6,482	5,980	5,604
Affiliated Parties
Related Party Transaction
Earned premiums	$ 47	$ 45	$ 48

Share-Based Associate Compens_3

Share-Based Associate Compensation Plans (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)peers_exceededPeerscompensation_plansshares	Dec. 31, 2020USD ($)Peerspeers_exceededshares	Dec. 31, 2019USD ($)peers_exceededPeersshares
Share-based Compensation Arrangement by Share-based Payment Award
Number of equity compensation plans | compensation_plans	4
Maximum number of shares awarded to each full-time employee for their service | shares	10
Number of peers exceeded | peers_exceeded	6	8	5
Number of peers in peer group | Peers	9	9	9
Share based compensation	$ 26	$ 25	$ 24
Tax benefit from compensation expense	6	6	6
Options exercised, intrinsic value	24	15	26
Options vested, intrinsic value	15	7	23
Unrecognized compensation costs related to non-vested awards	$ 35
Expected weighted-average period to recognize the unrecognized compensation costs related to non-vested awards	1 year 9 months 18 days
Proceeds from stock options exercised	$ 13	7	11
Shares of common stock granted in period (in shares) | shares	464,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Awards exercise peirod	10 years
Awards vesting period	3 years
Proceeds from stock options exercised	$ 13	$ 7	$ 11
Shares repurchased | shares	77,947	50,751	103,237
Shares repurchased, value	$ 8	$ 5	$ 9
Weighted average remaining contractual term	8 years 4 months 28 days
Shares authorized to be granted under the shareholder-approved plans | shares	17,300,000
Shares available for future issuance under the plans | shares	5,900,000
Stock Options | Directors
Share-based Compensation Arrangement by Share-based Payment Award
Shares of common stock granted in period (in shares) | shares	17,018
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	2.62%	2.15%	2.61%
Weighted-average expected term	2 years 10 months 6 days	2 years 10 months 9 days	2 years 10 months 9 days
Risk-free rates	0.20%	1.30%	2.48%
Performance Shares | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Shares, Issued | shares	113,648	56,722
Awards vesting period	3 years	3 years
Risk-free rates, minimum	0.00%	0.00%	0.00%
Risk-free rates, maximum	200.00%	200.00%	200.00%
share based performance metric for performance shares	3 years
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Intrinsic Value Aggregate	$ 11	$ 5	$ 2
Service Based Shares | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Awards vesting period	3 years
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Intrinsic Value Aggregate	$ 26	$ 30	$ 25

Share-Based Associate Compens_4

Share-Based Associate Compensation Plans (Assumptions Used In Grants Issued) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock Options
Weighted-average fair value of options granted during the period	$ 19.64	$ 15.45	$ 11.73
Stock Options | Minimum
Weighted-average expected term	7 years	7 years	7 years
Expected volatility	25.56%	16.89%	14.49%
Dividend yield	2.62%	2.15%	2.61%
Risk-free rates	0.97%	1.40%	2.62%
Stock Options | Maximum
Weighted-average expected term	9 years	8 years	8 years
Expected volatility	27.81%	17.13%	15.39%
Dividend yield	2.62%	2.15%	2.61%
Risk-free rates	1.26%	1.41%	2.64%
Performance Based Shares
Weighted-average expected term	2 years 10 months 6 days	2 years 10 months 9 days	2 years 10 months 9 days
Dividend yield	2.62%	2.15%	2.61%
Risk-free rates	0.20%	1.30%	2.48%
Performance Based Shares | Minimum
Expected volatility	29.50%	15.88%	15.10%
Performance Based Shares | Maximum
Expected volatility	47.26%	25.13%	25.00%

Share-Based Associate Compens_5

Share-Based Associate Compensation Plans (Stock Option Information) (Details) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Shares
Outstanding at beginning of year (in shares) | shares	3,601
Granted (in shares) | shares	464
Exercised (in shares) | shares	(415)
Forfeited or expired (in shares) | shares	(98)
Outstanding at end of year (in shares) | shares	3,552
Options exercisable at end of period (in shares) | shares	2,599
Weighted-average exercise price
Outstanding at beginning of year (in dollars per share) | $ / shares	$ 72.55
Granted (in dollars per share) | $ / shares	96.32
Exercised (in dollars per share) | $ / shares	50.51
Forfeited or expired (in dollars per share) | $ / shares	62
Outstanding at end of year (in dollars per share) | $ / shares	78.52
Options exercisable at end of period (in dollars per share) | $ / shares	$ 70.99
Aggregate intrinsic value
Outstanding at end of year | $	$ 126
Options exercisable at end of period | $	$ 112
Weighted-average remaining contractual life
Outstanding option shares at December 31, 2021	5 years 11 months 19 days
Options exercisable at end of period	5 years 25 days

Share-Based Associate Compens_6

Share-Based Associate Compensation Plans (Restricted Stock Unit Information) (Details) - Restricted Stock Units (RSUs) shares in Thousands	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Service Based Shares
Nonvested shares
Beginning balance (in shares) | shares	696
Granted (in shares) | shares	243
Vested (in shares) | shares	(274)
Forfeited or canceled (in shares) | shares	(31)
Ending balance (in shares) | shares	634
Weighted-average grant-date fair value
Beginning balance (in dollars per share) | $ / shares	$ 81.56
Granted (in dollars per share) | $ / shares	89.29
Vested (in dollars per share) | $ / shares	67.96
Forfeited or canceled (in dollars per share) | $ / shares	89.73
Ending balance (in dollars per share) | $ / shares	$ 90.01
Performance Based Shares
Nonvested shares
Beginning balance (in shares) | shares	147
Granted (in shares) | shares	106
Vested (in shares) | shares	(114)
Forfeited or canceled (in shares) | shares	0
Ending balance (in shares) | shares	139
Weighted-average grant-date fair value
Beginning balance (in dollars per share) | $ / shares	$ 84.64
Granted (in dollars per share) | $ / shares	86.13
Vested (in dollars per share) | $ / shares	63.29
Forfeited or canceled (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 103.16

Segment Information (Details)

Segment Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)segmentindustry	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information
Earned premiums	$ 6,482	$ 5,980	$ 5,604
Fee revenues	15	11	15
Other Income	10	10	9
Total revenues	9,630	7,536	7,924
Net Investment Income	714	670	646
Investment gains and losses, net	2,409	865	1,650
Total income before income taxes	3,670	1,499	2,472
Identifiable assets	$ 31,387	27,542
Number of Industries Operated In | industry	2
Number of Insurance Segments | segment	4
Consolidated Property And Casualty Insurance Entity
Segment Reporting Information
Identifiable assets	$ 4,421	3,838
Life Insurance Segment
Segment Reporting Information
Earned premiums	298	289	270
Identifiable assets	1,590	1,661
Investments Segment
Segment Reporting Information
Identifiable assets	24,481	21,332
Corporate and Other [Member]
Segment Reporting Information
Identifiable assets	895	711
Operating Segments | Commercial Insurance
Segment Reporting Information
Earned premiums	3,674	3,476	3,319
Fee revenues	4	3	5
Total revenues	3,678	3,479	3,324
Income (loss) before income taxes	598	64	241
Operating Segments | Commercial Insurance | Commercial Casualty Line
Segment Reporting Information
Earned premiums	1,270	1,165	1,102
Operating Segments | Commercial Insurance | Commercial Property Line
Segment Reporting Information
Earned premiums	1,043	1,010	958
Operating Segments | Commercial Insurance | Commercial Auto Line
Segment Reporting Information
Earned premiums	794	755	707
Operating Segments | Commercial Insurance | Workers' Compensation Line
Segment Reporting Information
Earned premiums	268	271	300
Operating Segments | Commercial Insurance | Other Commercial Lines
Segment Reporting Information
Earned premiums	299	275	252
Operating Segments | Personal Insurance
Segment Reporting Information
Earned premiums	1,542	1,463	1,404
Fee revenues	4	4	4
Total revenues	1,546	1,467	1,408
Income (loss) before income taxes	97	47	8
Operating Segments | Personal Insurance | Personal Auto
Segment Reporting Information
Earned premiums	609	615	621
Operating Segments | Personal Insurance | Home Owner Line
Segment Reporting Information
Earned premiums	726	658	607
Operating Segments | Personal Insurance | Other Personal Lines
Segment Reporting Information
Earned premiums	207	190	176
Operating Segments | Excess and Surplus Lines Insurance
Segment Reporting Information
Earned premiums	398	325	278
Fee revenues	2	2	2
Total revenues	400	327	280
Income (loss) before income taxes	44	34	53
Operating Segments | Life Insurance Segment
Segment Reporting Information
Earned premiums	298	289	270
Fee revenues	5	2	4
Total revenues	303	291	274
Income (loss) before income taxes	(16)	11	1
Operating Segments | Investments Segment
Segment Reporting Information
Total revenues	3,123	1,535	2,296
Net Investment Income	714	670	646
Investment gains and losses, net	2,409	865	1,650
Income (loss) before income taxes	3,018	1,433	2,197
Corporate, Non-Segment
Segment Reporting Information
Total revenues	580	437	342
Corporate, Non-Segment | Reinsurance assumed and other non segment
Segment Reporting Information
Earned premiums	570	427	333
Corporate, Non-Segment | Corporate and Other [Member]
Segment Reporting Information
Other Income	10	10	9
Income (loss) before income taxes	$ (71)	$ (90)	$ (28)

Summary of Investments Other _2

Summary of Investments Other Than Investments In Related Parties (Details) $ in Millions	Dec. 31, 2021USD ($)
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	$ 16,680
Fair value	0
Balance sheet	24,666
Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	12,230
Fair value	13,022
Balance sheet	13,022
Equity Securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	4,121
Fair value	11,315
Balance sheet	11,315
Other than Securities Investment
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	329
Fair value	0
Balance sheet	329
States, Municipalities and Political Subdivisions | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	4,768
Fair value	5,095
Balance sheet	5,095
States, Municipalities and Political Subdivisions | Fixed Maturities | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	57
Fair value	57
Balance sheet	57
States, Municipalities and Political Subdivisions | Fixed Maturities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	3,343
Fair value	3,583
Balance sheet	3,583
States, Municipalities and Political Subdivisions | Fixed Maturities | The Cincinnati Casualty Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	230
Fair value	246
Balance sheet	246
States, Municipalities and Political Subdivisions | Fixed Maturities | The Cincinnati Indemnity Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	49
Fair value	53
Balance sheet	53
States, Municipalities and Political Subdivisions | Fixed Maturities | The Cincinnati Life Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	446
Fair value	471
Balance sheet	471
States, Municipalities and Political Subdivisions | Fixed Maturities | The Cincinnati Specialty Underwriters Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	643
Fair value	685
Balance sheet	685
United States Government | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	121
Fair value	123
Balance sheet	123
United States Government | Fixed Maturities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	69
Fair value	71
Balance sheet	71
United States Government | Fixed Maturities | The Cincinnati Casualty Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	1
Fair value	1
Balance sheet	1
United States Government | Fixed Maturities | The Cincinnati Indemnity Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	1
Fair value	1
Balance sheet	1
United States Government | Fixed Maturities | Cincinnati Global
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	50
Fair value	50
Balance sheet	50
Foreign Government | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	26
Fair value	26
Balance sheet	26
Foreign Government | Fixed Maturities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	10
Fair value	10
Balance sheet	10
Foreign Government | Fixed Maturities | Cincinnati Global
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	16
Fair value	16
Balance sheet	16
Government-Sponsored Enterprises | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	8
Fair value	8
Balance sheet	8
Government-Sponsored Enterprises | Fixed Maturities | Cincinnati Global
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	8
Fair value	8
Balance sheet	8
All Other Corporate Bonds | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	7,307
Fair value	7,770
Balance sheet	7,770
All Other Corporate Bonds | Fixed Maturities | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	7
Fair value	7
Balance sheet	7
All Other Corporate Bonds | Fixed Maturities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	3,443
Fair value	3,628
Balance sheet	3,628
All Other Corporate Bonds | Fixed Maturities | The Cincinnati Casualty Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	102
Fair value	106
Balance sheet	106
All Other Corporate Bonds | Fixed Maturities | The Cincinnati Indemnity Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	33
Fair value	35
Balance sheet	35
All Other Corporate Bonds | Fixed Maturities | The Cincinnati Life Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	3,339
Fair value	3,595
Balance sheet	3,595
All Other Corporate Bonds | Fixed Maturities | The Cincinnati Specialty Underwriters Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	300
Fair value	316
Balance sheet	316
All Other Corporate Bonds | Fixed Maturities | Cincinnati Global
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	82
Fair value	82
Balance sheet	82
All Other Corporate Bonds | Fixed Maturities | CSU Producers Resources Inc.
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	1
Fair value	1
Balance sheet	1
Common Stock | Equity Securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	3,697
Fair value	10,862
Balance sheet	10,862
Common Stock | Equity Securities | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	1,656
Fair value	4,774
Balance sheet	4,774
Common Stock | Equity Securities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	1,848
Fair value	5,543
Balance sheet	5,543
Common Stock | Equity Securities | The Cincinnati Casualty Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	59
Fair value	186
Balance sheet	186
Common Stock | Equity Securities | The Cincinnati Indemnity Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	18
Fair value	44
Balance sheet	44
Common Stock | Equity Securities | The Cincinnati Specialty Underwriters Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	101
Fair value	287
Balance sheet	287
Common Stock | Equity Securities | CSU Producers Resources Inc.
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	15
Fair value	28
Balance sheet	28
Nonredeemable Preferred Stock | Equity Securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	424
Fair value	453
Balance sheet	453
Nonredeemable Preferred Stock | Equity Securities | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	4
Fair value	4
Balance sheet	4
Nonredeemable Preferred Stock | Equity Securities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	407
Fair value	436
Balance sheet	436
Nonredeemable Preferred Stock | Equity Securities | The Cincinnati Life Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	13
Fair value	13
Balance sheet	13
Policy Loans | Other than Securities Investment | The Cincinnati Life Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	31
Fair value	0
Balance sheet	31
Lloyd's and other deposits | Other than Securities Investment | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	6
Fair value	0
Balance sheet	6
Lloyd's and other deposits | Other than Securities Investment | Cincinnati Global
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	29
Fair value	0
Balance sheet	29
Limited Partnership | Other than Securities Investment | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	36
Fair value	0
Balance sheet	36
Limited Partnership | Other than Securities Investment | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	191
Balance sheet	191
Real Estate | Other than Securities Investment | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	4
Balance sheet	4
Real Estate | Other than Securities Investment | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	27
Balance sheet	27
Real Estate | Other than Securities Investment | The Cincinnati Life Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	5
Balance sheet	$ 5

Condensed Financial Statement_2

Condensed Financial Statements Of Parent Company Condensed Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments
Fair value of fixed maturities	$ 13,022	$ 12,338
Equity securities, at fair value (cost: 2021—$1,660; 2020—$1,607)	11,315	8,856
Other invested assets	329	348
Total investments	24,666	21,542
Cash and cash equivalents	1,139	900	$ 767	$ 784
Investment income receivable	144	136
Land, building and equipment, net, for company use (accumulated depreciation: 2021—$147; 2020—$138)	205	213
Other assets	570	438
Total assets	31,387	27,542
Liabilities
Deferred federal income tax	2,029	1,555
Long-term debt	789	788
Other liabilities	1,092	982
Total liabilities	18,282	16,753
Shareholders' Equity
Common stock	397	397
Paid-in capital	1,356	1,328
Retained earnings	12,625	10,085
Accumulated other comprehensive income	648	769
Treasury stock at cost	(1,921)	(1,790)
Total shareholders' equity	13,105	10,789	9,864
Total liabilities and shareholders' equity	31,387	27,542
Cincinnati Financial Corporation
Investments
Fair value of fixed maturities	64	68
Equity securities, at fair value (cost: 2021—$1,660; 2020—$1,607)	4,778	3,687
Other invested assets	46	145
Total investments	4,888	3,900
Cash and cash equivalents	211	16	$ 197	$ 209
Equity in net assets of subsidiaries	9,292	7,982
Investment income receivable	9	8
Land, building and equipment, net, for company use (accumulated depreciation: 2021—$147; 2020—$138)	140	143
Income tax receivable	0	5
Other assets	108	53
Due from subsidiaries	106	110
Total assets	14,754	12,217
Liabilities
Dividends declared but unpaid	101	97
Deferred federal income tax	664	429
Long-term debt	789	788
Other liabilities	95	114
Total liabilities	1,649	1,428
Shareholders' Equity
Common stock	397	397
Paid-in capital	1,356	1,328
Retained earnings	12,625	10,085
Accumulated other comprehensive income	648	769
Treasury stock at cost	(1,921)	(1,790)
Total shareholders' equity	13,105	10,789
Total liabilities and shareholders' equity	$ 14,754	$ 12,217

Condensed Financial Statement_3

Condensed Financial Statements Of Parent Company Condensed Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions
Amortized cost of fixed maturities	$ 12,230	$ 11,312
Equity securities, cost	4,121	3,927
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	303	285
Cincinnati Financial Corporation
Condensed Financial Statements, Captions
Amortized cost of fixed maturities	64	69
Equity securities, cost	1,660	1,607
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 147	$ 138

Condensed Financial Statement_4

Condensed Financial Statements Of Parent Company Condensed Statements Of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Investment income, net of expenses	$ 714	$ 670	$ 646
Investment gains and losses, net	2,409	865	1,650
Other revenues	10	10	9
Total revenues	9,630	7,536	7,924
Expenses
Interest expense	53	54	53
Other expenses	20	20	23
Total expenses	5,960	6,037	5,452
Provision for Income Taxes	724	283	475
Net Income	2,946	1,216	1,997
Amortization of pension actuarial gains and losses and prior service costs	54	(25)	5
Other comprehensive income (loss)	(121)	321	426
Comprehensive Income	2,825	1,537	2,423
Cincinnati Financial Corporation
Revenues
Investment income, net of expenses	91	81	75
Investment gains and losses, net	1,058	556	728
Other revenues	15	15	15
Total revenues	1,164	652	818
Expenses
Interest expense	53	54	52
Other expenses	32	34	37
Total expenses	85	88	89
Income Before Income Taxes and Earnings of Subsidiaries	1,079	564	729
Provision for Income Taxes	217	111	146
Net Income Before Earnings of Subsidiaries	862	453	583
Increase in equity of subsidiaries	2,084	763	1,414
Net Income	2,946	1,216	1,997
Change in unrealized gain (loss) on securities	1	0	0
Amortization of pension actuarial gains and losses and prior service costs	54	(25)	5
Other Comprehensive Income (Loss) Before Other Comprehensive Income (Loss) from Subsidiaries	55	(25)	5
Other Comprehensive Income (Loss) of subsidiaries	(176)	346	421
Other comprehensive income (loss)	(121)	321	426
Comprehensive Income	$ 2,825	$ 1,537	$ 2,423

Condensed Financial Statement_5

Condensed Financial Statements Of Parent Company Condensed Statements Of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows From Operating Activities
Net Income	$ 2,946	$ 1,216	$ 1,997
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	93	81	72
Investment gains and losses, net	(2,353)	(851)	(1,640)
Changes in:
Investment income receivable	(8)	(3)	(1)
Current income tax receivable/payable	(25)	44	92
Other assets	(11)	(26)	(22)
Net cash provided by operating activities	1,981	1,491	1,208
Cash Flows From Investing Activities
Sale of fixed maturities	118	179	102
Call or maturity of fixed maturities	1,343	912	1,241
Sale of equity securities	136	515	203
Purchase of fixed maturities	(2,388)	(1,382)	(1,742)
Purchase of equity securities	(313)	(699)	(382)
Investment in buildings and equipment	(15)	(20)	(24)
Change in other invested assets, net	64	(50)	(72)
Net cash (used in) received from investing activities	(1,057)	(560)	(679)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders	(395)	(375)	(355)
Shares acquired - share repurchase authorization	(144)	(261)	(67)
Proceeds from stock options exercised	13	7	11
Other	(98)	(110)	(54)
Net cash used in financing activities	(685)	(798)	(546)
Cash and cash equivalents at beginning of year	900	767	784
Cash and cash equivalents at end of year	1,139	900	767
Cincinnati Financial Corporation
Cash Flows From Operating Activities
Net Income	2,946	1,216	1,997
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11	12	10
Investment gains and losses, net	(1,034)	(552)	(720)
Dividends from subsidiaries	598	550	625
Changes in:
Increase in equity of subsidiaries	(2,084)	(763)	(1,414)
Investment income receivable	(1)	(1)	(1)
Current federal income taxes	6	(3)	(1)
Current income tax receivable/payable	220	91	146
Other assets	5	0	4
Other liabilities	0	1	4
Intercompany receivable for operations	5	34	20
Net cash provided by operating activities	672	585	670
Cash Flows From Investing Activities
Sale of fixed maturities	4	0	3
Call or maturity of fixed maturities	18	1	21
Sale of equity securities	25	307	122
Purchase of fixed maturities	(19)	(23)	(39)
Purchase of equity securities	(82)	(372)	(237)
Investment in buildings and equipment	(6)	(11)	(13)
Cash paid for acquisition	0	0	63
Change in other invested assets, net	108	(42)	(67)
Net cash (used in) received from investing activities	48	(140)	(273)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders	(395)	(375)	(355)
Shares acquired - share repurchase authorization	(144)	(261)	(67)
Proceeds from stock options exercised	13	7	11
Other	1	3	2
Net cash used in financing activities	(525)	(626)	(409)
Net change in cash and cash equivalents	195	(181)	(12)
Cash and cash equivalents at beginning of year	16	197	209
Cash and cash equivalents at end of year	$ 211	$ 16	$ 197

Supplementary Insurance Infor_2

Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	$ 905	$ 805	$ 774
Gross future policy benefits, losses, claims and expense losses	10,266	9,615	8,947
Gross unearned premium	3,271	2,960	2,788
Other policy claims and benefits payable	53	46	35
Earned premiums	6,482	5,980	5,604
Investment income, net of expenses	623	589	571
Benefits, claims losses and settlement expense	3,936	4,134	3,638
Amortization of deferred policy acquisition costs	1,197	1,106	1,034
Underwriting, acquisition and insurance expenses	754	723	704
Net written premiums	6,481	5,866	5,518
Commercial Insurance
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	345	317	311
Gross future policy benefits, losses, claims and expense losses	5,007	4,881	4,569
Gross unearned premium	1,857	1,714	1,665
Earned premiums	3,674	3,476	3,319
Benefits, claims losses and settlement expense	1,940	2,336	2,030
Amortization of deferred policy acquisition costs	703	664	631
Underwriting, acquisition and insurance expenses	437	415	422
Net written premiums	3,811	3,534	3,410
Personal Insurance
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	145	136	130
Gross future policy benefits, losses, claims and expense losses	814	739	687
Gross unearned premium	850	797	757
Earned premiums	1,542	1,463	1,404
Benefits, claims losses and settlement expense	992	977	985
Amortization of deferred policy acquisition costs	276	256	251
Underwriting, acquisition and insurance expenses	181	187	164
Net written premiums	1,594	1,503	1,435
Excess and Surplus Lines Insurance
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	33	28	25
Gross future policy benefits, losses, claims and expense losses	577	446	351
Gross unearned premium	207	175	152
Earned premiums	398	325	278
Benefits, claims losses and settlement expense	250	199	142
Amortization of deferred policy acquisition costs	63	51	47
Underwriting, acquisition and insurance expenses	43	43	38
Net written premiums	426	348	303
Reinsurance assumed and other non segment
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	79	61	46
Gross future policy benefits, losses, claims and expense losses	831	611	481
Gross unearned premium	356	273	213
Earned premiums	570	427	333
Benefits, claims losses and settlement expense	414	325	195
Amortization of deferred policy acquisition costs	109	86	57
Underwriting, acquisition and insurance expenses	55	42	42
Net written premiums	648	479	368
Property, Liability and Casualty Insurance
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	602	542	512
Gross future policy benefits, losses, claims and expense losses	7,229	6,677	6,088
Gross unearned premium	3,270	2,959	2,787
Earned premiums	6,184	5,691	5,334
Investment income, net of expenses	457	431	419
Benefits, claims losses and settlement expense	3,596	3,837	3,352
Amortization of deferred policy acquisition costs	1,151	1,057	986
Underwriting, acquisition and insurance expenses	716	687	666
Net written premiums	6,479	5,864	5,516
Accident and Health Insurance
Supplementary Insurance Information, by Segment
Net written premiums	2	2	2
Life Insurance Segment
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	303	263	262
Gross future policy benefits, losses, claims and expense losses	3,037	2,938	2,859
Gross unearned premium	1	1	1
Other policy claims and benefits payable	53	46	35
Earned premiums	298	289	270
Investment income, net of expenses	166	158	152
Benefits, claims losses and settlement expense	340	297	286
Amortization of deferred policy acquisition costs	46	49	48
Underwriting, acquisition and insurance expenses	$ 38	$ 36	$ 38

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts, life insurance in force	$ 116,697	$ 111,756	$ 108,130
Gross amounts	6,370	5,985	5,681
Ceded amounts to other companies, life insurance in force	39,204	38,281	38,146
Ceded premiums earned	331	290	276
Assumed amounts from other companies, life insurance in force	0	0	0
Assumed amounts from other companies	443	285	199
Net amounts, life insurance in force	77,493	73,475	69,984
Premiums Earned, Net	$ 6,482	$ 5,980	$ 5,604
Percentage of amounts assumed to net, life insurance in force	0.00%	0.00%	0.00%
Percentage of amounts assumed to net	6.80%	4.80%	3.60%
Commercial Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 3,777	$ 3,578	$ 3,421
Ceded premiums earned	115	109	109
Assumed amounts from other companies	12	7	7
Premiums Earned, Net	$ 3,674	$ 3,476	$ 3,319
Percentage of amounts assumed to net	0.30%	0.20%	0.20%
Personal Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 1,586	$ 1,503	$ 1,446
Ceded premiums earned	45	41	43
Assumed amounts from other companies	1	1	1
Premiums Earned, Net	$ 1,542	$ 1,463	$ 1,404
Percentage of amounts assumed to net	0.10%	0.10%	0.10%
Excess and Surplus Lines Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 417	$ 341	$ 292
Ceded premiums earned	19	16	14
Assumed amounts from other companies	0	0	0
Premiums Earned, Net	$ 398	$ 325	$ 278
Percentage of amounts assumed to net	0.00%	0.00%	0.00%
Reinsurance assumed and other non segment
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 216	$ 201	$ 181
Ceded premiums earned	76	51	39
Assumed amounts from other companies	430	277	191
Premiums Earned, Net	$ 570	$ 427	$ 333
Percentage of amounts assumed to net	75.40%	64.90%	57.40%
Property, Liability and Casualty Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 5,996	$ 5,623	$ 5,340
Ceded premiums earned	255	217	205
Assumed amounts from other companies	443	285	199
Premiums Earned, Net	$ 6,184	$ 5,691	$ 5,334
Percentage of amounts assumed to net	7.20%	5.00%	3.70%
Life Insurance Segment
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 374	$ 362	$ 341
Ceded premiums earned	76	73	71
Assumed amounts from other companies	0	0	0
Premiums Earned, Net	$ 298	$ 289	$ 270
Percentage of amounts assumed to net	0.00%	0.00%	0.00%

Valuation And Qualifying Acco_2

Valuation And Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Valuation and allowance roll forward
Beginning balance, January 1	$ 78	$ 49
Ending balance, December 31	69	78	$ 49
Accounting Standards Update 2016-13
Valuation and allowance roll forward
Cumulative effect of change in accounting for credit loss as of January 1, 2020, pretax		0	3	$ 0
Allowance for doubtful receivables
Valuation and allowance roll forward
Beginning balance, January 1	22	8	6
Additions charged to costs and expenses	14	19	8
Deductions	(20)	(8)	(6)
Ending balance, December 31	16	22	8
Deferred tax valuation allowance
Valuation and allowance roll forward
Beginning balance, January 1	56	41	0
Additions charged to costs and expenses	0	15	55
Deductions	(3)	0	(14)
Ending balance, December 31	$ 53	$ 56	$ 41

Supplementary Information Con_2

Supplementary Information Concerning Property Casualty Insurance Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	$ 602	$ 542	$ 512
Reserves for unpaid claims and claim adjustment expenses	7,229	6,677	6,088
Unearned premiums	3,270	2,959	2,787
Earned premiums	6,184	5,691	5,334
Investment income	457	431	419
Loss and loss expenses incurred related to current accident year	4,024	3,968	3,600
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(428)	(131)	(248)
Amortization of deferred policy acquisition cost	1,151	1,057	986
Paid loss and loss expenses	3,094	3,183	3,260
Net written premiums	6,479	5,864	5,516
Commercial Insurance
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	345	317	311
Reserves for unpaid claims and claim adjustment expenses	5,007	4,881	4,569
Unearned premiums	1,857	1,714	1,665
Earned premiums	3,674	3,476	3,319
Investment income	0	0	0
Loss and loss expenses incurred related to current accident year	2,293	2,431	2,222
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(353)	(95)	(192)
Amortization of deferred policy acquisition cost	703	664	631
Paid loss and loss expenses	1,806	1,969	2,023
Net written premiums	3,811	3,534	3,410
Personal Insurance
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	145	136	130
Reserves for unpaid claims and claim adjustment expenses	814	739	687
Unearned premiums	850	797	757
Earned premiums	1,542	1,463	1,404
Investment income	0	0	0
Loss and loss expenses incurred related to current accident year	1,042	995	1,012
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(50)	(18)	(27)
Amortization of deferred policy acquisition cost	276	256	251
Paid loss and loss expenses	914	921	966
Net written premiums	1,594	1,503	1,435
Excess and Surplus Lines Insurance
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	33	28	25
Reserves for unpaid claims and claim adjustment expenses	577	446	351
Unearned premiums	207	175	152
Earned premiums	398	325	278
Investment income	0	0	0
Loss and loss expenses incurred related to current accident year	243	192	153
Prior year claims and claims adjustments expense, (favorable) and unfavorable	7	7	(11)
Amortization of deferred policy acquisition cost	63	51	47
Paid loss and loss expenses	118	112	90
Net written premiums	426	348	303
Reinsurance assumed and other non segment
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	79	61	46
Reserves for unpaid claims and claim adjustment expenses	831	611	481
Unearned premiums	356	273	213
Earned premiums	570	427	333
Investment income	0	0	0
Loss and loss expenses incurred related to current accident year	446	350	213
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(32)	(25)	(18)
Amortization of deferred policy acquisition cost	109	86	57
Paid loss and loss expenses	256	181	181
Net written premiums	$ 648	$ 479	$ 368