Cincinnati Financial (CINF) 10-K 23 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 15, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
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			$ 18,533,373,847
Entity Common Stock, Shares Outstanding		157,240,556
Entity Central Index Key	0000020286
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
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 6, 2023, are incorporated by reference into Part III of this Form 10-K.

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
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, 2022	Dec. 31, 2021
Investments
Fixed maturities, at fair value (amortized cost: 2022—$12,979; 2021—$12,230)	$ 12,132	$ 13,022
Equity securities, at fair value (cost: 2022—$4,294; 2021—$4,121)	9,841	11,315
Other invested assets	452	329
Total investments	22,425	24,666
Cash and cash equivalents	1,264	1,139
Investment income receivable	160	144
Finance receivable	92	98
Premiums receivable	2,322	2,053
Reinsurance recoverable	640	570
Prepaid reinsurance premiums	79	78
Deferred policy acquisition costs	1,014	905
Land, building and equipment, net, for company use (accumulated depreciation: 2022—$322; 2021—$303)	202	205
Other assets	646	570
Separate accounts	892	959
Total assets	29,736	31,387
Insurance reserves
Loss and loss expense reserves	8,400	7,305
Life policy and investment contract reserves	3,059	3,014
Unearned premiums	3,689	3,271
Other liabilities	1,229	1,092
Deferred income tax	1,045	1,744
Note payable	50	54
Long-term debt and lease obligations	841	843
Separate accounts	892	959
Total liabilities	19,205	18,282
Commitments and contingent liabilities (Note 16)
Shareholders' Equity
Common stock, par value—$2 per share; (authorized: 2022 and 2021—500 million shares; issued: 2022 and 2021—198.3 million shares)	397	397
Paid-in capital	1,392	1,356
Retained earnings	11,702	12,625
Accumulated other comprehensive income	(636)	648
Treasury stock, at cost (2022—41.2 million shares and 2021—38.0 million shares)	(2,324)	(1,921)
Total shareholders' equity	10,531	13,105
Total liabilities and shareholders' equity	$ 29,736	$ 31,387

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fixed maturities, amortized cost	$ 12,979	$ 12,230
Equity securities, cost	4,294	4,121
Land, building and equipment, accumulated depreciation	$ 322	$ 303
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	41,200	38,000

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Earned premiums	$ 7,219	$ 6,482	$ 5,980
Investment income, net of expenses	781	714	670
Investment gains and losses, net	(1,467)	2,409	865
Fee revenues	14	15	11
Other revenues	10	10	10
Total revenues	6,557	9,630	7,536
Benefits and Expenses
Insurance losses and contract holders' benefits	5,012	3,936	4,134
Underwriting, acquisition and insurance expenses	2,162	1,951	1,829
Interest expense	53	53	54
Other operating expenses	23	20	20
Total benefits and expenses	7,250	5,960	6,037
Income from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	(693)	3,670	1,499
Provision (Benefit) for Income Taxes
Current	148	247	147
Deferred	(355)	477	136
Total provision (benefit) for income taxes	(207)	724	283
Net Income (Loss)	$ (486)	$ 2,946	$ 1,216
Per Common Share
Net income—basic (in usd per share)	$ (3.06)	$ 18.29	$ 7.55
Net income—diluted (in usd per share)	$ (3.06)	$ 18.10	$ 7.49

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (486)	$ 2,946	$ 1,216
Other Comprehensive Income (Loss)
Change in unrealized gains and losses on investments, net of tax (benefit) of $(347), $(50) and $92, respectively	(1,292)	(184)	344
Amortization of pension actuarial gains and losses and prior service cost, net of tax (benefit) of $2, $14 and $(7), respectively	7	54	(25)
Change in life deferred acquisition costs, life policy reserves and other, net of tax of $0, $2 and $1, respectively	1	9	2
Other comprehensive income (loss)	(1,284)	(121)	321
Comprehensive Income (Loss)	$ (1,770)	$ 2,825	$ 1,537

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, Tax	$ (347)	$ (50)	$ 92
Other Comprehensive Income Loss, Pension And Other Postretirement Benefit Plans, Net Actuarial Loss And Prior Service Cost Arising During Period, Tax	2	14	(7)
Other Comprehensive Income, Change in Life Deferred Acquisition Costs, Life Policy Reserves and Other, Tax	$ 0	$ 2	$ 1

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				$ 9,255
Increase to allowance through retained earnings for ASU 2016-13, after-tax				(2)
Beginning Balance at Dec. 31, 2019		$ 397	$ 1,306	9,257	$ 448	$ (1,544)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based awards		0	(15)			15
Share-based compensation			31
Other			6			5
Net Income (Loss)	$ 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)
Beginning Balance (in shares) at Dec. 31, 2019		162,900
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 (Loss)	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)		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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjusted beginning of year				12,625
Increase to allowance through retained earnings for ASU 2016-13, after-tax				0
Share-based awards		$ 0	(10)			14
Share-based compensation			37
Other			9			3
Net Income (Loss)	(486)			(486)
Dividends declared				(437)
Other comprehensive income (loss)	(1,284)				(1,284)
Shares acquired - share repurchase authorization						(410)
Shares acquired - share-based compensation plans						(10)
Ending Balance at Dec. 31, 2022	$ 10,531	$ 397	$ 1,392	$ 11,702	$ (636)	$ (2,324)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based awards (in shares)	330	500
Shares acquired—share repurchase authorization (in shares)		(3,800)
Shares acquired - share-based compensation plans (in shares)		0
Other (in shares)		100
Ending Balance (in shares) at Dec. 31, 2022		157,100

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows From Operating Activities
Net Income (Loss)	$ (486)	$ 2,946	$ 1,216
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other	127	118	109
Investment gains and losses, net	1,493	(2,353)	(851)
Interest credited to contract holders	43	45	43
Deferred income tax expense	(355)	477	136
Changes in:
Premiums and reinsurance receivable	(340)	(240)	(23)
Deferred policy acquisition costs	(96)	(73)	(39)
Other assets	28	(11)	(26)
Loss and loss expense reserves	1,095	559	599
Life policy and investment contract reserves	77	99	116
Unearned premiums	418	311	172
Other liabilities	88	128	(5)
Current income tax receivable/payable	(40)	(25)	44
Net cash provided by operating activities	2,052	1,981	1,491
Cash Flows From Investing Activities
Sale, call or maturity of fixed maturities	1,113	1,461	1,091
Sale of equity securities	430	136	515
Purchase of fixed maturities	(1,901)	(2,388)	(1,382)
Purchase of equity securities	(466)	(313)	(699)
Payments to acquire (proceeds from sale and collection of) finance receivables	7	(2)	(15)
Investment in buildings and equipment	(15)	(15)	(20)
Change in other invested assets, net	(101)	64	(50)
Net cash used in investing activities	(933)	(1,057)	(560)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders	(423)	(395)	(375)
Shares acquired - share repurchase authorization	(410)	(144)	(261)
Changes in note payable	(4)	0	15
Proceeds from stock options exercised	10	13	7
Contract holders' funds deposited	70	85	85
Contract holders' funds withdrawn	(144)	(146)	(159)
Other	(93)	(98)	(110)
Net cash used in financing activities	(994)	(685)	(798)
Net change in cash and cash equivalents	125	239	133
Cash and cash equivalents at beginning of year	1,139	900	767
Cash and cash equivalents at end of year	1,264	1,139	900
Supplemental Disclosures of Cash Flow Information
Interest paid	53	52	53
Income taxes paid	165	257	84
Noncash Activities
Equipment acquired under finance lease obligations	17	12	19
Share-based compensation	27	26	19
Other assets and other liabilities	$ 115	$ 87	$ 57

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
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. 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 1,984 independent insurance agencies with 2,861 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. The company continues to monitor the impact of the coronavirus (SARS-CoV-2 or COVID-19) pandemic outbreak. The estimated pandemic-related incurred losses and expenses were immaterial in 2022 and 2021 and $85 million in 2020. 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). 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 $337 million and $227 million of private equity investments, $47 million and $36 million of real estate through direct property ownership and development projects in the United States, $37 million and $35 million held on deposit at Lloyd's and $31 million and $31 million of life policy loans at December 31, 2022 and 2021, 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, 2022, 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 50.1% and 52.1% of total earned premiums in 2022 and 2021, respectively. Ohio, our largest state, accounted for 13.4% and 14.4% of total earned premiums in 2022 and 2021, respectively. Illinois, New York, North Carolina, Pennsylvania, Georgia and Indiana each accounted for between 4% and 6% of total earned premiums in 2022. Our largest single agency relationship accounted for approximately 0.6% of our total property casualty earned premiums in 2022. No aggregate agency relationship locations under a single ownership structure accounted for more than 5% of our total property casualty earned premiums in 2022. 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 $13 million, $14 million, $19 million and $9 million at December 31, 2022, 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, 2022, 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, 2022, the current fair value of the contract holders’ account value exceeded the current fair value of the BOLI invested assets and cash by approximately $64 million. At December 31, 2021 , the current fair value of the BOLI invested assets and cash exceeded the current fair value of the contract holders’ account value by approximately $79 million. 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, 2022, 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 2022, 2021 or 2020. 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, 2022, 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, 2022 and 2021, 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 Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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 insurance 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. Related to the company's term and whole life products included in life policy and investment contract 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 and investment contract 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. We adopted these ASUs on a modified retrospective basis on January 1, 2023, resulting in an after-t ax increase t o shareholders' e quity of approximately $30 million.

Investments

Investments	12 Months Ended
	Dec. 31, 2022
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, 2022 gains losses Fixed-maturity securities: Corporate $ 7,412 $ 37 $ 580 $ 6,869 States, municipalities and political subdivisions 4,901 24 303 4,622 Commercial mortgage-backed 250 — 16 234 United States government 196 — 5 191 Government-sponsored enterprises 186 — 3 183 Foreign government 34 — 1 33 Total $ 12,979 $ 61 $ 908 $ 12,132 At December 31, 2021 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 Government-sponsored enterprises 8 — — 8 Foreign government 26 — — 26 Total $ 12,230 $ 808 $ 16 $ 13,022 The net unrealized investment losses in our fixed-maturity portfolio at December 31, 2022, are primarily due to an increase in U.S. Treasury yields and widening of corporate credit spreads. Our commercial mortgage-backed securities had an average rating of Aa2/AA- and Aa2/AA at December 31, 2022 and 2021, 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, 2022 Fair Unrealized Fair Unrealized Fair Unrealized Fixed-maturity securities: Corporate $ 5,651 $ 412 $ 661 $ 168 $ 6,312 $ 580 States, municipalities and political subdivisions 2,600 274 77 29 2,677 303 Commercial mortgage-backed 215 13 14 3 229 16 United States government 146 3 41 2 187 5 Government-sponsored enterprises 123 3 3 — 126 3 Foreign government 25 1 4 — 29 1 Total $ 8,760 $ 706 $ 800 $ 202 $ 9,560 $ 908 At December 31, 2021 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 — Government-sponsored enterprises 7 — — — 7 — Foreign government 16 — — — 16 — Total $ 1,047 $ 15 $ 28 $ 1 $ 1,075 $ 16 Contractual maturity dates for fixed-maturity securities were: (Dollars in millions) Amortized cost Fair % of fair value At December 31, 2022 Maturity dates: Due in one year or less $ 713 $ 709 5.8 % Due after one year through five years 3,966 3,834 31.6 Due after five years through ten years 3,533 3,357 27.7 Due after ten years 4,767 4,232 34.9 Total $ 12,979 $ 12,132 100.0 % 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, 2022 and 2021, the company had fixed-maturity securities with a fair value of $107 million and $119 million, respectively, on deposit with various states in compliance with regulatory requirements. In addition, cash and fixed-maturity securities deposited with third parties used as collateral to secure liabilities on behalf of insureds, cedants and other creditors had a fair value of $135 million and $116 million at December 31, 2022 and 2021, respectively. At December 31, 2022 and 2021, the company had common equities with a fair value of $101 million and $84 million, respectively, 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, 2022 2021 2020 Investment income: Interest $ 510 $ 477 $ 455 Dividends 275 246 220 Other 11 5 8 Total 796 728 683 Less investment expenses 15 14 13 Total $ 781 $ 714 $ 670 Investment gains and losses, net: Equity securities: Investment gains and losses on securities sold, net $ 16 $ 4 $ 79 Unrealized gains and losses on securities still held, net (1,526) 2,278 841 Subtotal (1,510) 2,282 920 Fixed-maturity securities: Gross realized gains 6 36 16 Gross realized losses (4) (5) (3) Write-down of impaired securities (5) (1) (78) Subtotal (3) 30 (65) Other 46 97 10 Total $ (1,467) $ 2,409 $ 865 The fair value of our equity portfolio was $9.841 billion and $11.315 billion at December 31, 2022 and 2021, respectively. At December 31, 2022 and 2021, Apple, Inc. (Nasdaq:AAPL), an equity holding, was our largest single investment holding with a fair value of $597 million and $862 million, which was 6.3% and 7.9% of our publicly traded common equities portfolio and 2.7% and 3.5% of the total investment portfolio, respectively. At December 31, 2022, the allowance for credit losses on fixed-maturity securities was $1 million. Changes in the amount during the period were also $1 million. There were three fixed-maturity securities that were written down to fair value, due to an intention to be sold, primarily in the real estate sector. At December 31, 2022 , 3,272 fixed-maturity securities with a total unrealized loss of $908 million w ere in an unrealized loss position. Of that tota l, 49 fixed-maturity securities had fair values below 70% of amortized cost. At December 31, 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, in the municipal sector. At December 31, 2021, 278 fixed-maturity securities with a total unrealized loss of $16 million were in an unrealized loss position. Of that total, no fixed-maturity securities had fair values below 70% of amortized cost. At December 31, 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, in the energy, real estate, consumer goods, municipal and technology & electronics sectors. At December 31, 2020, 128 fixed-maturity securities with a total unrealized loss of $10 million had been in an unrealized loss position. Of that total, no fixed-maturity securities

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
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, 2021, 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, 2022 and 2021. We do not have any liabilities carried at fair value. (Dollars in millions) Level 1 Level 3 At December 31, 2022 Level 2 Total Fixed maturities, available for sale: Corporate $ — $ 6,869 $ — $ 6,869 States, municipalities and political subdivisions — 4,622 — 4,622 Commercial mortgage-backed — 234 — 234 United States government 191 — — 191 Government-sponsored enterprises — 183 — 183 Foreign government — 33 — 33 Subtotal 191 11,941 — 12,132 Common equities 9,454 — — 9,454 Nonredeemable preferred equities — 387 — 387 Separate accounts taxable fixed maturities — 815 — 815 Top Hat savings plan mutual funds and common 57 — — 57 Total $ 9,702 $ 13,143 $ — $ 22,845 At December 31, 2021 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 Government-sponsored enterprises — 8 — 8 Foreign government — 26 — 26 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 We also held Level 1 cash and cash equivalents of $1.264 billion and $1.139 billion at December 31, 2022 and 2021 , 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) Level 1 Level 2 Level 3 Total At December 31, 2022 Note payable $ — $ 50 $ — $ 50 6.900% senior debentures, due 2028 — 29 — 29 6.920% senior debentures, due 2028 — 418 — 418 6.125% senior notes, due 2034 — 388 — 388 Total $ — $ 885 $ — $ 885 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 Fair value of the note payable was determined based upon the outstanding balance at December 31, 2022 and 2021, 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 traded. 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 was $793 million at December 31, 2022 and 2021. 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) Level 1 Level 2 Level 3 Total At December 31, 2022 Life policy loans $ — $ — $ 37 $ 37 At December 31, 2021 Life policy loans $ — $ — $ 44 $ 44 Outstanding principal and interest for these life policy loans totaled $31 million at December 31, 2022 and 2021. 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) Level 1 Level 2 Level 3 Total At December 31, 2022 Deferred annuities $ — $ — $ 621 $ 621 Structured settlements — 143 — 143 Total $ — $ 143 $ 621 $ 764 At December 31, 2021 Deferred annuities $ — $ — $ 778 $ 778 Structured settlements — 201 — 201 Total $ — $ 201 $ 778 $ 979 Recorded reserves for the deferred annuities were $735 million and $762 million at December 31, 2022 and 2021, respectively. Recorded reserves for the structured settlements were $129 million and $136 million at December 31, 2022 and 2021, 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, 2022 and 2021, 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, 2022 and 2021, 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, 2022
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, 2022 2021 2020 Gross loss and loss expense reserves, January 1 $ 7,229 $ 6,677 $ 6,088 Less reinsurance recoverable 327 277 342 Net loss and loss expense reserves, January 1 6,902 6,400 5,746 Net incurred loss and loss expenses related to: Current accident year 4,875 4,024 3,968 Prior accident years (159) (428) (131) Total incurred 4,716 3,596 3,837 Net paid loss and loss expenses related to: Current accident year 1,592 1,379 1,493 Prior accident years 2,095 1,715 1,690 Total paid 3,687 3,094 3,183 Net loss and loss expense reserves, December 31 7,931 6,902 6,400 Plus reinsurance recoverable 405 327 277 Gross loss and loss expense reserves, December 31 $ 8,336 $ 7,229 $ 6,677 At December 31, 2022, 2021 and 2020, the reserve for loss and loss expense in the consolidated balance sheets also included $64 million, $76 million and $69 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 2022, we experienced $159 million of favorable development on prior accident years including $76 million of favorable development in commercial lines, $61 million of favorable development in personal lines and $9 million of favorable development in excess and surplus lines. Within commercial lines, we recognized favorable development of $63 million for the workers' compensation line and $44 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 $25 million for the commercial casualty line and $23 million for the commercial auto line. Within personal lines, we recognized favorable reserve development of $54 million for the homeowner line of business. 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 $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. Included in our lines of business are asbestos and environmental claims. We carried $92 million and $88 million of net loss and loss expense reserves for asbestos and environmental claims at December 31, 2022 and 2021, 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, 2022. (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 $ 5,932 $ 3,396 $ 86 $ 2,622 $ 43 $ 2,665 Workers' compensation 1,865 1,215 311 961 57 1,018 Commercial auto 2,332 1,581 40 791 5 796 Commercial property 3,312 2,774 15 553 47 600 Personal auto 1,831 1,557 13 287 28 315 Homeowner 2,275 1,952 6 329 8 337 Excess and surplus 1,272 587 2 687 37 724 Other lines 1,512 Total liabilities for loss and ALAE reserves 7,967 Unallocated loss adjustment expense reserves 369 Gross loss and loss expense reserves $ 8,336 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of Accident Unaudited Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 $ 448 $ 443 $ 431 $ 416 $ 413 $ 407 $ 391 $ 386 $ 385 $ 381 $ 9 20 2014 503 496 479 476 479 465 469 466 462 10 21 2015 533 526 529 516 508 502 504 496 14 22 2016 563 574 557 555 554 538 531 32 22 2017 610 597 577 571 555 554 51 21 2018 650 641 622 588 612 77 22 2019 672 643 607 669 124 20 2020 674 629 606 188 14 2021 714 697 338 13 2022 924 613 10 Total $ 5,932 Cumulative paid losses and ALAE, net of reinsurance 2013 $ 35 $ 90 $ 159 $ 232 $ 286 $ 312 $ 337 $ 348 $ 355 $ 366 2014 34 97 172 287 338 390 409 421 437 2015 38 108 200 287 362 404 424 453 2016 46 126 228 331 395 434 466 2017 48 122 234 320 392 437 2018 44 148 253 345 441 2019 39 134 259 394 2020 33 102 242 2021 31 123 2022 37 Total 3,396 All outstanding liabilities before 2013, net of reinsurance 86 Liabilities for loss and ALAE, net of reinsurance $ 2,622 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 6.9% 14.0% 18.9% 18.7% 13.5% 8.4% 5.1% 3.8% 2.7% 2.4% 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of Accident Unaudited Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 $ 264 $ 246 $ 221 $ 212 $ 208 $ 205 $ 202 $ 201 $ 204 $ 204 $ 16 20 2014 261 233 214 203 201 198 197 202 202 16 19 2015 246 220 208 195 179 173 173 171 23 17 2016 230 218 206 188 183 183 183 24 16 2017 218 208 190 183 172 167 27 15 2018 222 207 199 186 179 28 15 2019 224 215 202 188 41 14 2020 204 190 172 55 11 2021 202 190 49 11 2022 209 84 10 Total $ 1,865 Cumulative paid losses and ALAE, net of reinsurance 2013 $ 61 $ 119 $ 144 $ 157 $ 164 $ 168 $ 170 $ 174 $ 177 $ 179 2014 56 110 134 148 157 162 165 168 171 2015 47 93 115 129 134 137 139 139 2016 46 97 119 131 141 146 148 2017 45 88 106 114 119 122 2018 48 95 115 127 133 2019 49 94 115 122 2020 37 68 82 2021 37 82 2022 37 Total 1,215 All outstanding liabilities before 2013, net of reinsurance 311 Liabilities for loss and ALAE, net of reinsurance $ 961 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 24.8% 25.4% 11.2% 6.1% 3.8% 2.2% 1.3% 1.0% 1.3% 0.9% 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2018 2019 2020 2021 2022 2018 $ 453 $ 442 $ 442 $ 440 $ 444 $ 9 49 2019 452 451 453 469 18 46 2020 424 391 384 37 36 2021 470 477 91 39 2022 558 181 37 Total $ 2,332 Cumulative paid losses and ALAE, net of reinsurance 2018 $ 184 $ 266 $ 337 $ 378 $ 411 2019 183 268 333 395 2020 154 214 280 2021 179 278 2022 217 Total 1,581 All outstanding liabilities before 2018, net of reinsurance 40 Liabilities for loss and ALAE, net of reinsurance $ 791 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 39.4% 18.3% 15.6% 11.1% 7.8% 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2018 2019 2020 2021 2022 2018 $ 630 $ 603 $ 590 $ 597 $ 596 $ 4 18 2019 621 606 600 598 6 17 2020 855 742 719 29 24 2021 607 586 15 14 2022 813 195 13 Total $ 3,312 Cumulative paid losses and ALAE, net of reinsurance 2018 $ 386 $ 559 $ 576 $ 589 $ 592 2019 413 561 579 590 2020 489 637 672 2021 326 527 2022 393 Total 2,774 All outstanding liabilities before 2018, net of reinsurance 15 Liabilities for loss and ALAE, net of reinsurance $ 553 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 61.1% 27.2% 3.6% 2.0% 0.4% 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2018 2019 2020 2021 2022 2018 $ 424 $ 398 $ 395 $ 398 $ 401 $ 3 111 2019 399 383 380 383 4 102 2020 305 281 277 7 71 2021 350 343 14 80 2022 427 58 80 Total $ 1,831 Cumulative paid losses and ALAE, net of reinsurance 2018 $ 262 $ 327 $ 358 $ 379 $ 391 2019 250 314 346 363 2020 186 225 248 2021 219 278 2022 277 Total 1,557 All outstanding liabilities before 2018, net of reinsurance 13 Liabilities for loss and ALAE, net of reinsurance $ 287 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 65.2% 16.1% 8.2% 4.9% 2.8% 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2018 2019 2020 2021 2022 2018 $ 370 $ 386 $ 387 $ 388 $ 386 $ 1 24 2019 432 421 422 418 2 22 2020 497 475 470 7 23 2021 495 449 15 19 2022 552 120 17 Total $ 2,275 Cumulative paid losses and ALAE, net of reinsurance 2018 $ 268 $ 368 $ 378 $ 381 $ 384 2019 303 391 407 411 2020 326 434 453 2021 285 405 2022 299 Total 1,952 All outstanding liabilities before 2018, net of reinsurance 6 Liabilities for loss and ALAE, net of reinsurance $ 329 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 65.8% 24.2% 3.5% 0.9% 0.7% 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 $ 74 $ 64 $ 54 $ 45 $ 42 $ 41 $ 41 $ 41 $ 40 $ 41 $ — 2 2014 95 82 75 64 60 59 59 58 56 1 2 2015 96 81 73 67 65 66 65 61 1 2 2016 93 87 84 82 90 91 88 2 3 2017 104 95 95 94 94 91 5 3 2018 116 109 110 108 107 14 3 2019 137 135 141 139 28 3 2020 172 172 160 51 3 2021 217 235 98 3 2022 294 198 2 Total $ 1,272 Cumulative paid losses and ALAE, net of reinsurance 2013 $ 7 $ 12 $ 20 $ 27 $ 32 $ 34 $ 37 $ 39 $ 39 $ 40 2014 9 17 27 37 43 48 51 53 55 2015 8 19 29 41 51 54 56 58 2016 10 21 39 51 62 75 81 2017 11 23 41 57 68 77 2018 11 26 50 62 75 2019 13 34 55 79 2020 16 37 56 2021 17 45 2022 21 Total 587 All outstanding liabilities before 2013, net of reinsurance 2 Liabilities for loss and ALAE, net of reinsurance $ 687 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 11.3% 13.7% 18.1% 16.1% 12.7% 9.1% 5.2% 3.3% 1.7% 2.8%

Life Policy And Investment Cont

Life Policy And Investment Contract Reserves	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 Life policy reserves: Ordinary/traditional life $ 1,451 $ 1,376 Other 54 52 Subtotal 1,505 1,428 Investment contract reserves: Deferred annuities 735 762 Universal life 682 679 Structured settlements 129 136 Other 8 9 Subtotal 1,554 1,586 Total life policy and investment contract reserves $ 3,059 $ 3,014

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Property casualty: Deferred policy acquisition costs asset, January 1 $ 602 $ 542 $ 512 Capitalized deferred policy acquisition costs 1,383 1,211 1,087 Amortized deferred policy acquisition costs (1,303) (1,151) (1,057) Deferred policy acquisition costs asset, December 31 $ 682 $ 602 $ 542 Life: Deferred policy acquisition costs asset, January 1 $ 303 $ 263 $ 262 Capitalized deferred policy acquisition costs 60 59 58 Amortized deferred policy acquisition costs (44) (46) (49) Shadow deferred policy acquisition costs 13 27 (8) Deferred policy acquisition costs asset, December 31 $ 332 $ 303 $ 263 Consolidated: Deferred policy acquisition costs asset, January 1 $ 905 $ 805 $ 774 Capitalized deferred policy acquisition costs 1,443 1,270 1,145 Amortized deferred policy acquisition costs (1,347) (1,197) (1,106) Shadow deferred policy acquisition costs 13 27 (8) Deferred policy acquisition costs asset, December 31 $ 1,014 $ 905 $ 805 No premium deficiencies were recorded in the consolidated statements of income in 2022, 2021 and 2020, 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, 2022
Notes Payable, Current [Abstract]
Note Payable	Note PayableWe have one unsecured revolving credit facility through multiple commercial banks that 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 2022 or 2021. The line of credit had $50 million and $54 million drawn at December 31, 2022 and 2021, respectively. The interest rate charged on our borrowings on this credit agreement ranged from 0.99% to 5.00% during 2022 and ranged from 0.97% to 1.03% during 2021. In addition, we have letters of credit related to our Cincinnati Re and Cincinnati Global operations with no amounts drawn at December 31, 2022 and 2021.

Long-Term Debt And Lease Obliga

Long-Term Debt And Lease Obligation	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2022 2021 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 371 371 374 374 Total $ 789 $ 789 $ 793 $ 793 The finance lease term for equipment and autos is three $52 million and $54 million in 2022 and 2021, respectively. Below are the lease obligations we expect to pay through 2028 and thereafter including $4 million of interest for finance and operating leases: (Dollars in millions) Years ended December 31, 2023 2024 2025 2026 2027 2028 and thereafter Finance lease obligations $ 16 $ 12 $ 8 $ 6 $ 3 $ 2 Operating lease obligations 2 2 2 1 1 1 Total lease obligations $ 18 $ 14 $ 10 $ 7 $ 4 $ 3 The following table provides lease cost and other information: (Dollars in millions) Years ended December 31, 2022 2021 2020 Lease cost: Finance lease cost $ 14 $ 15 $ 15 Operating lease cost 5 4 4 Total lease cost $ 19 $ 19 $ 19 Other information finance leases: Finance cash outflows $ 15 $ 15 $ 15 Weighted average discount rate 3.20 % 2.46 % 2.62 % Weighted average remaining lease term in years 3.49 3.45 3.67 Other information operating leases: Operating cash outflows $ 4 $ 4 $ 8 Weighted average discount rate 3.44 % 2.86 % 3.65 % Weighted average remaining lease term in years 4.53 4.37 4.84

Shareholders' Equity And Divide

Shareholders' Equity And Dividend Restrictions	12 Months Ended
	Dec. 31, 2022
Shareholders Equity And Dividend Restrictions [Abstract]
Shareholders' Equity And Dividend Restrictions	Shareholders’ Equity and Dividend Restrictions Declared cash dividends per share were $2.76 , $2.52 and $2.40 for the years ended December 31, 2022, 2021 and 2020, respectively. Our lead insurance subsidiary, The Cincinnati Insurance Company, paid dividends to the parent company of $729 million, $583 million and $550 million in 2022, 2021 and 2020, respectively. 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 2023, the total that our lead insurance subsidiary may pay in dividends is approximately $651 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 2022, 2021 or 2020. 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) 2022 2021 2020 Before Income Net Before Income Net Before Income Net Investments: AOCI, January 1 $ 792 $ 165 $ 627 $ 1,026 $ 215 $ 811 $ 590 $ 123 $ 467 OCI before investment gains and losses, net, recognized in net income (1,642) (347) (1,295) (204) (44) (160) 371 78 293 Investment gains and losses, net, recognized in net income 3 — 3 (30) (6) (24) 65 14 51 OCI (1,639) (347) (1,292) (234) (50) (184) 436 92 344 AOCI, December 31 $ (847) $ (182) $ (665) $ 792 $ 165 $ 627 $ 1,026 $ 215 $ 811 Pension obligations: AOCI, January 1 $ 27 $ 7 $ 20 $ (41) $ (7) $ (34) $ (9) $ — $ (9) OCI excluding amortization recognized in net income 12 2 10 62 12 50 (35) (7) (28) Amortization recognized in net income (3) — (3) 6 2 4 3 — 3 OCI 9 2 7 68 14 54 (32) (7) (25) AOCI, December 31 $ 36 $ 9 $ 27 $ 27 $ 7 $ 20 $ (41) $ (7) $ (34) Life deferred acquisition costs, life policy reserves and other: AOCI, January 1 $ 1 $ — $ 1 $ (10) $ (2) $ (8) $ (13) $ (3) $ (10) OCI before investment gains and losses, net, recognized in net income 1 — 1 11 2 9 3 1 2 Investment gains and losses, net, recognized in net income — — — — — — — — — OCI 1 — 1 11 2 9 3 1 2 AOCI, December 31 $ 2 $ — $ 2 $ 1 $ — $ 1 $ (10) $ (2) $ (8) Summary of AOCI: AOCI, January 1 $ 820 $ 172 $ 648 $ 975 $ 206 $ 769 $ 568 $ 120 $ 448 Investments OCI (1,639) (347) (1,292) (234) (50) (184) 436 92 344 Pension obligations OCI 9 2 7 68 14 54 (32) (7) (25) Life deferred acquisition costs, life policy reserves and other OCI 1 — 1 11 2 9 3 1 2 Total OCI (1,629) (345) (1,284) (155) (34) (121) 407 86 321 AOCI, December 31 $ (809) $ (173) $ (636) $ 820 $ 172 $ 648 $ 975 $ 206 $ 769 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, 2022
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 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, 2022 2021 2020 Direct written premiums $ 7,002 $ 6,229 $ 5,756 Assumed written premiums 619 515 335 Ceded written premiums (314) (265) (227) Net written premiums $ 7,307 $ 6,479 $ 5,864 Direct earned premiums $ 6,677 $ 5,996 $ 5,623 Assumed earned premiums 561 443 285 Ceded earned premiums (314) (255) (217) Earned premiums $ 6,924 $ 6,184 $ 5,691 Direct incurred loss and loss expenses $ 4,495 $ 3,352 $ 3,699 Assumed incurred loss and loss expenses 396 366 184 Ceded incurred loss and loss expenses (175) (122) (46) Incurred loss and loss expenses $ 4,716 $ 3,596 $ 3,837 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, 2022 2021 2020 Direct earned premiums $ 373 $ 374 $ 362 Ceded earned premiums (78) (76) (73) Earned premiums $ 295 $ 298 $ 289 Direct contract holders' benefits incurred $ 386 $ 423 $ 359 Ceded contract holders' benefits incurred (90) (83) (62) Contract holders' benefits incurred $ 296 $ 340 $ 297 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, 2022
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, 2022 2021 Deferred tax assets: Unearned premiums $ 148 $ 131 Loss and loss expense reserves 106 92 Net operating loss on international earnings 28 34 Deferred international earnings 16 31 Other 55 50 Deferred tax assets before valuation allowance 353 338 Valuation allowance for international operations 31 53 Deferred tax assets net of valuation allowance 322 285 Deferred tax liabilities: Investment gains and other, net 992 1,684 Deferred acquisition costs 171 155 Life policy reserves 112 116 Investments 31 38 Other 61 36 Total gross deferred tax liabilities 1,367 2,029 Net deferred income tax liability $ 1,045 $ 1,744 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, 2022 and 2021, 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, 2022 2021 2020 United States $ (718) $ 3,644 $ 1,521 International 25 26 (22) Total income (loss) before income taxes $ (693) $ 3,670 $ 1,499 The provision (benefit) for income taxes consists of: (Dollars in millions) For the years ended December 31, 2022 2021 2020 Provision (benefit) for income taxes: Current – United States federal $ 148 $ 248 $ 147 International — (1) — Total current 148 247 147 Deferred – United States federal (355) 477 136 International — — — Total deferred (355) 477 136 Total provision (benefit) for income taxes $ (207) $ 724 $ 283 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, 2022 2021 2020 Tax at statutory rate: $ (146) 21.0 % $ 771 21.0 % $ 315 21.0 % Increase (decrease) resulting from: Tax-exempt income from municipal bonds (20) 2.9 (20) (0.5) (20) (1.3) Dividend received exclusion (21) 3.0 (20) (0.5) (17) (1.1) Release of unrecognized tax benefit (34) 4.9 — — — — Other 14 (1.9) (7) (0.3) 5 0.3 Provision (benefit) for income taxes $ (207) 29.9 % $ 724 19.7 % $ 283 18.9 % The provision (benefit) 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, 2022 and 2021, 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. In response to the COVID-19 pandemic, various stimulus legislation was enacted in 2021 and 2020. We have evaluated the pandemic-related legislation enacted in 2021 and 2020 and the result of such legislation was immaterial to our financial statements. Enactment of the Inflation Reduction Act of 2022 The Inflation Reduction Act of 2022 (Tax Act) was enacted on August 16, 2022. Along with other changes, the Tax Act created a new corporate alternative minimum tax (AMT) for certain corporations based on 15% of adjusted financial statement income for the taxable year. Even though we expect to be an applicable corporation for the purposes of the AMT in 2023, we do not expect the enactment of the Tax Act to have a material impact on our financial statements. In addition, the Tax Act imposes a 1% excise tax on corporate stock repurchases. The effective date of these two provisions was January 1, 2023. Unrecognized Tax Benefits During 2022, we received favorable guidance from the Internal Revenue Service (IRS) supporting our tax position related to our unrecognized tax benefit set up in 2018. As a result of this guidance, we released our $34 million gross unrecognized tax benefit liability at December 31, 2022. The $34 million release is recognized as an additional income tax benefit and is shown separately in our effective income tax rate reconciliation. The following is a tabular reconciliation of the total amounts of unrecognized tax benefits: (Dollars in millions) Years ended December 31, 2022 2021 2020 Gross unrecognized tax benefits, January 1 $ 34 $ 34 $ 34 Gross increase in prior year positions — — — Gross decrease in prior year positions (34) — — Gross increase in current year positions — — — Settlements with tax authorities — — — Lapse of statute of limitations — — — Gross unrecognized tax benefits, December 31 $ — $ 34 $ 34 During 2022, the Congressional Joint Committee on Taxation completed its review of our 2017 tax return and related carryback claims with no change to our returns as filed. In January 2023, the IRS completed their review of our 2018 tax return with an immaterial decrease to our tax liability as originally filed. 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. During 2022, we held an opening conference with the IRS to begin their audit of our 2021 and 2020 tax years. 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, 2018 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 His Majesty’s Revenue and Customs (HMRC) has closed for tax years ended December 31, 2020 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 2022, 2021 or 2020. Cincinnati Global Cincinnati Global's operating results for the year ended December 31, 2022, decreased their net deferred assets by $22 million with an offsetting decrease of $22 million to their valuation allowance. Cincinnati Global had a net deferred tax asset of $31 million and an offsetting valuation allowance of $31 million at December 31, 2022. 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, 2022, 2021 and 2020. The following is a tabular reconciliation of the total amounts of our Cincinnati Global valuation allowance: (Dollars in millions) Years ended December 31, 2022 2021 2020 Valuation allowance, January 1 $ 53 $ 56 $ 41 Current year operations (22) (3) 15 Valuation allowance, December 31 $ 31 $ 53 $ 56 At December 31, 2022 and 2021, Cincinnati Global had operating loss carryforwards in the United States of $5 million and $8 million and in the United Kingdom of $109 million and $130 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, 2022
Earnings Per Share [Abstract]
Net Income Per Common Share	Net Income (Loss) 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, 2022 2021 2020 Numerator: Net income (loss)—basic and diluted $ (486) $ 2,946 $ 1,216 Denominator: Basic weighted-average common shares outstanding 158.8 161.0 161.2 Effect of share-based awards: Stock options — 1.1 0.7 Nonvested shares — 0.6 0.5 Diluted weighted-average shares 158.8 162.7 162.4 Earnings (loss) per share: Basic $ (3.06) $ 18.29 $ 7.55 Diluted (3.06) 18.10 7.49 Number of anti-dilutive share-based awards 2.2 0.8 1.4 The sources of dilution of our common shares are certain equity-based awards as discussed in Note 17, Share-Based Associate Compensation Plans. The above table includes the number of anti-dilutive share-based awards at year-end 2022, 2021 and 2020. In accordance with Accounting Standards Codification 260, Earnings per Share , the assumed exercise of share-based awards were excluded from the computation of diluted loss per share for the year-ended 2022, because their exercise would have anti-dilutive effects.

Employee Retirement Benefits

Employee Retirement Benefits	12 Months Ended
	Dec. 31, 2022
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 $24 million, $22 million and $22 million during the years 2022, 2021 and 2020, 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 $8 million at year-end 2022 and $9 million at year-end 2021, 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 $57 million and $64 million at December 31, 2022 and 2021, respectively. Company matching contributions to the CFC Top Hat Savings Plan totaled approximately $1 million for the years 2022, 2021 and 2020, 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 2022 2021 2022 2021 Discount rate 5.34 % 2.97 % 5.42 % 2.90 % Rate of compensation increase 4.50 2.25-3.25 4.50 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 2.37 percentage points for the qualified pension plan and by 2.52 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 was used for the years 2022 and 2021 and Scale MP-2020 was used for 2020. This is a summary of the weighted-average assumptions used to determine our net periodic benefit cost for the plans: Qualified Pension Plan SERP 2022 2021 2020 2022 2021 2020 Discount rate 2.97 % 2.68 % 3.40 % 2.90 % 2.52 % 3.33 % 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 increased by 0.29 percentage points for the qualified pension plan and 0.38 percentage points for the SERP due to market interest rate conditions at the beginning of 2022. 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 2022 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 2022 was negative 8.9% and for 2021 was 24.5%. Our compensation increase assumptions in 2022 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, 2022 2021 Change in projected benefit obligation: Benefit obligation, January 1 $ 362 $ 387 Service cost 9 10 Interest cost 10 10 Actuarial gain (70) (5) Benefits paid (29) (41) Other — 1 Projected benefit obligation, December 31 $ 282 $ 362 Change in plan assets: Fair value of plan assets, January 1 $ 397 $ 357 Actual return on plan assets (36) 78 Employer contribution — 3 Benefits paid (29) (41) Fair value of plan assets, December 31 $ 332 $ 397 Funded status, December 31 $ 50 $ 35 Accumulated benefit obligation $ 264 $ 338 Our funded status for 2022 compared to 2021 improved primarily due to increases in actuarial gain from increases in discount rates, offset by lower year over year return on plan assets. 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. 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, 2022 2021 Pension amounts recognized in the consolidated balance sheets: Other assets $ 50 $ 35 Total $ 50 $ 35 Pension amounts recognized in accumulated other comprehensive income: Net actuarial gain $ 36 $ 27 Total $ 36 $ 27 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, 2022 2021 2020 Net periodic benefit cost: Service cost $ 9 $ 10 $ 9 Non-service costs (benefit): Interest cost 10 10 12 Expected return on plan assets (22) (21) (21) Amortization of actuarial loss and prior service cost — 6 3 Other (3) 1 3 Net periodic benefit cost $ (6) $ 6 $ 6 Other changes in plan assets and benefit obligations recognized in other Current year actuarial (gain) loss $ (12) $ (62) $ 38 Amortization of actuarial gain (loss) 3 (7) (6) Current year prior service cost — 1 — Total recognized in other comprehensive (income) loss $ (9) $ (68) $ 32 Total recognized in net periodic benefit cost and other comprehensive $ (15) $ (62) $ 38 The 2022 change in the amount recognized in other comprehensive income from 2021 is largely due to changes in the actuarial gain resulting from increases in discount rates, offset by a decrease of return on plan assets. 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 2022, 2021 and 2020. 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 2022 we held approximately 85% of our pension portfolio in domestic common equity investments. The remainder of the portfolio consisted of 11% in United States government fixed-maturity investments, 2% in both domestic corporate fixed-maturity investments and states, municipalities and taxable political subdivisions fixed-maturity investments. Our common equity portfolio consisted of 25% in the information technology sector, 19% in the financial sector, 16% in the healthcare sector, and 14% in the industrial sector, at year-end 2022. No additional sectors accounted for 10% or more of our common equity portfolio balance at year-end 2022. 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, 2022 and 2021. The following table shows the fair value hierarchy for those assets measured at fair value on a recurring basis at December 31, 2022 and 2021. Excluded from the table below is cash on hand of $43 million and $16 million at December 31, 2022 and 2021, respectively. (Dollars in millions) Level 1 Level 2 Level 3 Total At December 31, 2022 Fixed maturities, available for sale: United States government $ 31 $ — $ — $ 31 Corporate — 7 — 7 States, municipalities and political subdivisions — 6 — 6 Total fixed maturities, available for sale 31 13 — 44 Common equities 245 — — 245 Total $ 276 $ 13 $ — $ 289 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 Our pension plan assets included 100,610 and 202,337 shares of the company’s common stock at December 31, 2022 and 2021, which had a fair value of $10 million and $23 million at December 31, 2022 and 2021, respectively. The defined benefit pension plan did not purchase any of our common stock during 2022 or 2021. The defined benefit pension plan sold 101,727 shares of our common stock during 2022 and did not sell any shares during 2021. The company paid less than $1 million in both 2022 and 2021 in cash dividends on our common stock to the pension plan. We estimate $6 million of benefit payments from the SERP during 2023. 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, 2023 2024 2025 2026 2027 2028 - 2032 Expected future benefit payments $ 57 $ 20 $ 23 $ 28 $ 27 $ 140

Statutory Accounting Informatio

Statutory Accounting Information	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 2022 2021 The Cincinnati Insurance Company $ 520 $ 929 $ 466 $ 6,512 $ 7,247 The Cincinnati Casualty Company 14 15 14 495 500 The Cincinnati Indemnity Company 4 5 3 126 126 The Cincinnati Specialty Underwriters Insurance Company 61 47 42 542 571 The Cincinnati Life Insurance Company 64 41 27 326 270

Transactions With Affiliated Pa

Transactions With Affiliated Parties	12 Months Ended
	Dec. 31, 2022
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 $9 million, $8 million and $7 million on premium volume of $47 million, $47 million and $45 million for 2022, 2021 and 2020, respectively.

Commitments And Contingent Liab

Commitments And Contingent Liabilities	12 Months Ended
	Dec. 31, 2022
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, including several that continue to be amended; many that have been dismissed; several that may be refiled; and others that have been dismissed by trial courts and appealed. While appellate decisions issued to date generally have been favorable for the insurance industry and the company, 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 state or national classes. Such proceedings have alleged, for example, improper depreciation of labor costs in repair estimates. 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, 2022
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 2022 and 2021. Share-based compensation cost after tax was $29 million, $26 million and $25 million for the years ended December 31, 2022, 2021 and 2020, respectively. The related income tax benefit recognized was $7 million,$6 million and $6 million for the years ended December 31, 2022, 2021 and 2020, respectively. Options exercised during the years ended December 31, 2022, 2021 and 2020, had intrinsic value of $21 million, $24 million and $15 million, respectively. Intrinsic value is the market price less the exercise price. Options vested during the years ended December 31, 2022, 2021 and 2020, had total intrinsic value of $2 million, $15 million and $7 million, respectively. As of December 31, 2022, we had $39 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: 2022 2021 2020 Weighted-average expected term 7-9 years 7-9 years 7-8 years Expected volatility 26.34-28.87% 25.56-27.81% 16.89-17.13% Dividend yield 2.23% 2.62% 2.15% Risk-free rates 1.90-1.92% 0.97-1.26% 1.40-1.41% Weighted-average fair value of options granted during the period $30.34 $19.64 $15.45 Below is a summary of option information for the year 2022: (Dollars in millions, except exercise price. Shares in thousands) Shares Weighted- Aggregate Weighted-average Outstanding option shares at January 1, 2022 3,552 $ 78.52 Granted 469 123.94 Exercised (330) 59.55 Forfeited or expired (83) 75.95 Outstanding option shares at December 31, 2022 3,608 86.21 $ 73 5.74 years Options exercisable at end of period 2,763 $ 78.04 $ 71 4.90 years Cash received from the exercise of options was $10 million, $13 million and $7 million for the years ended December 31, 2022, 2021 and 2020, respectively. We acquired 80,538 , 77,947 and 50,751 shares totaling $10 million, $8 million and $5 million, respectively, from associates in consideration for option exercises during 2022, 2021 and 2020. The weighted-average remaining contractual life for options expected to vest as of December 31, 2022, was 8.48 years. Under all active shareholder approved plans, a total of 17.3 million shares were authorized to be granted. At December 31, 2022, 4.6 million shares remained available for future issuance under the plans. During 2022, we granted 11,563 shares of common stock to our directors for 2021 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, 2022, our total shareholder return exceeded one of our eight peers. We expect no payout of these shares to occur in March of 2023. During 2022, we issued 52,335 shares of performance-based restricted stock unit s at the target-level perfo rmance hurdle for the three-year performance period ended December 31, 2021, as our total shareholder return exceeded six of nine peers in our 2019 peer group. We issued 113,648 shares of performance-based restricted stock units during 2021 at the maximum-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 assumption is based on our current expected annual cash dividend and the valuation date stock price. • 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: 2022 2021 2020 Expected term 2.86 years 2.85 years 2.86 years Expected volatility 30.09-49.28% 29.50-47.26% 15.88-25.13% Dividend yield 2.19% 2.62% 2.15% Risk-free rates 1.64% 0.20% 1.30% Below is a summary of service-based and performance-based share information, assuming a target payout for performance-based shares, for the year 2022: (Shares in thousands) Service-based Weighted- Performance-based Weighted- Nonvested at January 1, 2022 634 $ 90.01 139 $ 103.16 Granted 176 116.22 68 140.50 Vested (256) 81.73 (52) 87.97 Forfeited or canceled (31) 101.24 — — Nonvested at December 31, 2022 523 102.26 155 124.69

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2022
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. (Dollars in millions) Years ended December 31, 2022 2021 2020 Revenues: Commercial lines insurance Commercial casualty $ 1,416 $ 1,270 $ 1,165 Commercial property 1,136 1,043 1,010 Commercial auto 842 794 755 Workers' compensation 284 268 271 Other commercial 346 299 275 Commercial lines insurance premiums 4,024 3,674 3,476 Fee revenues 4 4 3 Total commercial lines insurance 4,028 3,678 3,479 Personal lines insurance Personal auto 626 609 615 Homeowner 829 726 658 Other personal 234 207 190 Personal lines insurance premiums 1,689 1,542 1,463 Fee revenues 4 4 4 Total personal lines insurance 1,693 1,546 1,467 Excess and surplus lines insurance 485 398 325 Fee revenues 2 2 2 Total excess and surplus lines insurance 487 400 327 Life insurance premiums 295 298 289 Fee revenues 4 5 2 Total life insurance 299 303 291 Investments Investment income, net of expenses 781 714 670 Investment gains and losses, net (1,467) 2,409 865 Total investment revenue (686) 3,123 1,535 Other Premiums 726 570 427 Other 10 10 10 Total other revenue 736 580 437 Total revenues $ 6,557 $ 9,630 $ 7,536 Income (loss) before income taxes: Insurance underwriting results Commercial lines insurance $ 38 $ 598 $ 64 Personal lines insurance 18 97 47 Excess and surplus lines insurance 48 44 34 Life insurance 28 (16) 11 Investments (795) 3,018 1,433 Other (30) (71) (90) Total income (loss) before income taxes $ (693) $ 3,670 $ 1,499 December 31, December 31, Identifiable assets: 2022 2021 Property casualty insurance $ 5,178 $ 4,421 Life insurance 1,522 1,590 Investments 22,133 24,481 Other 903 895 Total $ 29,736 $ 31,387

Summary Of Investments Other Th

Summary Of Investments Other Than Investments In Related Parties	12 Months Ended
	Dec. 31, 2022
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, 2022 Type of investment Cost or Fair Balance sheet Fixed maturities: States, municipalities and political subdivisions: The Cincinnati Insurance Company $ 3,401 $ 3,271 $ 3,271 The Cincinnati Casualty Company 243 230 230 The Cincinnati Indemnity Company 48 46 46 The Cincinnati Life Insurance Company 459 383 383 The Cincinnati Specialty Underwriters Insurance Company 688 640 640 Cincinnati Financial Corporation 62 52 52 Total 4,901 4,622 4,622 United States government: The Cincinnati Insurance Company 139 135 135 The Cincinnati Casualty Company 1 1 1 The Cincinnati Indemnity Company 1 1 1 Cincinnati Global Underwriting Ltd. 55 54 54 Total 196 191 191 Government-sponsored enterprises: The Cincinnati Insurance Company 15 15 15 The Cincinnati Casualty Company 5 5 5 The Cincinnati Indemnity Company 2 2 2 The Cincinnati Life Insurance Company 145 142 142 The Cincinnati Specialty Underwriters Insurance Company 10 10 10 Cincinnati Global Underwriting Ltd. 9 9 9 Total 186 183 183 Foreign government: The Cincinnati Insurance Company 10 10 10 Cincinnati Global Underwriting Ltd. 24 23 23 Total 34 33 33 All other corporate bonds: The Cincinnati Insurance Company 3,794 3,527 3,527 The Cincinnati Casualty Company 96 85 85 The Cincinnati Indemnity Company 33 31 31 The Cincinnati Life Insurance Company 3,283 3,045 3,045 The Cincinnati Specialty Underwriters Insurance Company 323 287 287 Cincinnati Global Underwriting Ltd. 104 102 102 Cincinnati Financial Corporation 29 26 26 Total 7,662 7,103 7,103 Total fixed maturities $ 12,979 $ 12,132 $ 12,132 Schedule I (continued) Cincinnati Financial Corporation and Subsidiaries Summary of Investments - Other Than Investments in Related Parties (Dollars in millions) At December 31, 2022 Type of investment Cost or Fair Balance sheet Equity securities: Common equities: The Cincinnati Insurance Company $ 1,925 $ 5,013 $ 5,013 The Cincinnati Casualty Company 59 162 162 The Cincinnati Indemnity Company 18 40 40 The Cincinnati Specialty Underwriters Insurance Company 102 238 238 CSU Producer Resources Inc. 17 27 27 Cincinnati Financial Corporation 1,730 3,974 3,974 Total 3,851 9,454 9,454 Nonredeemable preferred equities: The Cincinnati Insurance Company 426 372 372 The Cincinnati Life Insurance Company 13 11 11 Cincinnati Financial Corporation 4 4 4 Total 443 387 387 Total equity securities $ 4,294 $ 9,841 $ 9,841 Other invested assets: Policy loans: The Cincinnati Life Insurance Company $ 31 — $ 31 Deposits at Lloyd's: Cincinnati Global Underwriting Ltd. 32 — 32 Cincinnati Financial Corporation 5 — 5 Private equity: The Cincinnati Insurance Company (1) 288 — 288 The Cincinnati Life Insurance Company (1) 5 — 5 Cincinnati Financial Corporation (1) 44 — 44 Real estate: The Cincinnati Insurance Company (1) 38 — 38 The Cincinnati Life Insurance Company (1) 5 — 5 Cincinnati Financial Corporation (1) 4 — 4 Total other invested assets $ 452 — $ 452 Total investments $ 17,725 — $ 22,425

Condensed Financial Statements

Condensed Financial Statements Of Parent Company	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 Assets Investments Fixed maturities, at fair value (amortized cost: 2022—$91; 2021—$64) $ 78 $ 64 Equity securities, at fair value (cost: 2022—$1,734; 2021—$1,660) 3,978 4,778 Other invested assets 53 46 Total investments 4,109 4,888 Cash and cash equivalents 121 211 Equity in net assets of subsidiaries 7,396 9,292 Investment income receivable 11 9 Land, building and equipment, net, for company use (accumulated depreciation: 2022—$156; 2021—$147) 136 140 Income tax receivable 5 — Other assets 116 108 Due from subsidiaries 102 106 Total assets $ 11,996 $ 14,754 Liabilities Dividends declared but unpaid $ 108 $ 101 Deferred federal income tax 480 664 Long-term debt 789 789 Other liabilities 88 95 Total liabilities 1,465 1,649 Shareholders' Equity Common stock 397 397 Paid-in capital 1,392 1,356 Retained earnings 11,702 12,625 Accumulated other comprehensive income (636) 648 Treasury stock, at cost (2,324) (1,921) Total shareholders' equity 10,531 13,105 Total liabilities and shareholders' equity $ 11,996 $ 14,754 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, 2022 2021 2020 Revenues Investment income, net of expenses $ 101 $ 91 $ 81 Investment gains and losses, net (790) 1,058 556 Other revenue 15 15 15 Total revenues (674) 1,164 652 Expenses Interest expense 53 53 54 Other expenses 33 32 34 Total expenses 86 85 88 Income (Loss) Before Income Taxes and Earnings of Subsidiaries (760) 1,079 564 Provision (Benefit) for Income Taxes (161) 217 111 Net Income (Loss) Before Earnings of Subsidiaries (599) 862 453 Increase in equity of subsidiaries 113 2,084 763 Net Income (Loss) $ (486) $ 2,946 $ 1,216 Other Comprehensive Income (Loss), Net of Taxes Change in unrealized gain on securities (10) 1 — Amortization of pension actuarial gains (losses) and prior service costs 7 54 (25) Other Comprehensive Income (Loss), Net of Taxes Before Other Comprehensive Income (3) 55 (25) Other comprehensive income (loss) of subsidiaries (1,281) (176) 346 Other comprehensive income (loss) (1,284) (121) 321 Comprehensive Income (Loss) $ (1,770) $ 2,825 $ 1,537 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, 2022 2021 2020 Cash Flows From Operating Activities Net income $ (486) $ 2,946 $ 1,216 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization and other 9 10 11 Investment gains and losses, net 792 (1,034) (552) Dividends from subsidiaries 729 598 550 Changes in: Increase in equity of subsidiaries (113) (2,084) (763) Current federal income taxes (6) 6 (3) Deferred income tax (183) 220 91 Other assets (7) 5 — Other liabilities 1 — 1 Intercompany receivable for operations 28 5 34 Net cash provided by operating activities 764 672 585 Cash Flows From Investing Activities Sale, call or maturity of fixed maturities 1 22 1 Sale of equity securities 192 25 307 Purchase of fixed maturities (30) (19) (23) Purchase of equity securities (187) (82) (372) Investment in buildings and equipment (4) (6) (11) Change in other invested assets, net (4) 108 (42) Net cash (used in) received from investing activities (32) 48 (140) Cash Flows From Financing Activities Payment of cash dividends to shareholders (423) (395) (375) Shares acquired - share repurchase authorization (410) (144) (261) Proceeds from stock options exercised 10 13 7 Other 1 1 3 Net cash used in financing activities (822) (525) (626) Net change in cash and cash equivalents (90) 195 (181) Cash and cash equivalents at beginning of year 211 16 197 Cash and cash equivalents at end of year $ 121 $ 211 $ 16

Supplementary Insurance Informa

Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Deferred policy acquisition costs: Commercial lines insurance $ 372 $ 345 $ 317 Personal lines insurance 168 145 136 Excess and surplus lines insurance 37 33 28 Other 105 79 61 Total property casualty insurance 682 602 542 Life insurance 332 303 263 Total $ 1,014 $ 905 $ 805 Gross future policy benefits, losses, claims and expense losses: Commercial lines insurance $ 5,568 $ 5,007 $ 4,881 Personal lines insurance 916 814 739 Excess and surplus lines insurance 753 577 446 Other 1,099 831 611 Total property casualty insurance 8,336 7,229 6,677 Life insurance 3,082 3,037 2,938 Total (1) $ 11,418 $ 10,266 $ 9,615 Gross unearned premiums: Commercial lines insurance $ 2,021 $ 1,857 $ 1,714 Personal lines insurance 994 850 797 Excess and surplus lines insurance 236 207 175 Other 437 356 273 Total property casualty insurance 3,688 3,270 2,959 Life insurance 1 1 1 Total (1) $ 3,689 $ 3,271 $ 2,960 Other policy claims and benefits payable: Commercial lines insurance $ — $ — $ — Personal lines insurance — — — Excess and surplus lines insurance — — — Other — — — Total property casualty insurance — — — Life insurance 41 53 46 Total (1) $ 41 $ 53 $ 46 Earned premiums: Commercial lines insurance $ 4,024 $ 3,674 $ 3,476 Personal lines insurance 1,689 1,542 1,463 Excess and surplus lines insurance 485 398 325 Other 726 570 427 Total property casualty insurance 6,924 6,184 5,691 Life insurance 295 298 289 Total $ 7,219 $ 6,482 $ 5,980 Schedule III (continued) Cincinnati Financial Corporation and Subsidiaries Supplementary Insurance Information (Dollars in millions) Years ended December 31, 2022 2021 2020 Investment income, net of expenses: Commercial lines insurance $ — $ — $ — Personal lines insurance — — — Excess and surplus lines insurance — — — Other — — — Total property casualty insurance (2) 509 457 431 Life insurance 171 166 158 Total $ 680 $ 623 $ 589 Benefits, claims losses and settlement expenses: Commercial lines insurance $ 2,761 $ 1,940 $ 2,336 Personal lines insurance 1,166 992 977 Excess and surplus lines insurance 315 250 199 Other 474 414 325 Total property casualty insurance 4,716 3,596 3,837 Life insurance 296 340 297 Total $ 5,012 $ 3,936 $ 4,134 Amortization of deferred policy acquisition costs: Commercial lines insurance $ 769 $ 703 $ 664 Personal lines insurance 311 276 256 Excess and surplus lines insurance 79 63 51 Other 144 109 86 Total property casualty insurance 1,303 1,151 1,057 Life insurance 44 46 49 Total (3) $ 1,347 $ 1,197 $ 1,106 Underwriting, acquisition and insurance expenses: Commercial lines insurance $ 460 $ 437 $ 415 Personal lines insurance 198 181 187 Excess and surplus lines insurance 45 43 43 Other 72 55 42 Total property casualty insurance 775 716 687 Life insurance 40 38 36 Total (3) $ 815 $ 754 $ 723 Net written premiums: Commercial lines insurance $ 4,159 $ 3,811 $ 3,534 Personal lines insurance 1,831 1,594 1,503 Excess and surplus lines insurance 502 426 348 Other 815 648 479 Total property casualty insurance 7,307 6,479 5,864 Accident and health insurance 2 2 2 Total $ 7,309 $ 6,481 $ 5,866 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, 2022
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, 2022 2021 2020 Gross amounts: Life insurance in force $ 120,147 $ 116,697 $ 111,756 Earned premiums Commercial lines insurance $ 4,150 $ 3,777 $ 3,578 Personal lines insurance 1,755 1,586 1,503 Excess and surplus lines insurance 510 417 341 Other 262 216 201 Total property casualty insurance 6,677 5,996 5,623 Life insurance 373 374 362 Total $ 7,050 $ 6,370 $ 5,985 Ceded amounts to other companies: Life insurance in force $ 39,665 $ 39,204 $ 38,281 Earned premiums Commercial lines insurance $ 137 $ 115 $ 109 Personal lines insurance 67 45 41 Excess and surplus lines insurance 25 19 16 Other 85 76 51 Total property casualty insurance 314 255 217 Life insurance 78 76 73 Total $ 392 $ 331 $ 290 Assumed amounts from other companies: Life insurance in force $ — $ — $ — Earned premiums Commercial lines insurance $ 11 $ 12 $ 7 Personal lines insurance 1 1 1 Excess and surplus lines insurance — — — Other 549 430 277 Total property casualty insurance 561 443 285 Life insurance — — — Total $ 561 $ 443 $ 285 Net amounts: Life insurance in force $ 80,482 $ 77,493 $ 73,475 Earned premiums Commercial lines insurance $ 4,024 $ 3,674 $ 3,476 Personal lines insurance 1,689 1,542 1,463 Excess and surplus lines insurance 485 398 325 Other 726 570 427 Total property casualty insurance 6,924 6,184 5,691 Life insurance 295 298 289 Total $ 7,219 $ 6,482 $ 5,980 Percentage of amounts assumed to net: Life insurance in force — % — % — % Earned premiums Commercial lines insurance 0.3 % 0.3 % 0.2 % Personal lines insurance 0.1 0.1 0.1 Excess and surplus lines insurance — — — Other 75.6 75.4 64.9 Total property casualty insurance 8.1 7.2 5.0 Life insurance — — — Total 7.8 6.8 4.8

Valuation And Qualifying Accoun

Valuation And Qualifying Accounts	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Allowance for credit losses (1): Beginning balance, January 1 $ 16 $ 22 $ 8 Cumulative effect of change in accounting for credit losses as of January 1, 2020, pretax — — 3 Additions charged to costs and expenses 15 14 19 Deductions (14) (20) (8) Ending balance, December 31 $ 17 $ 16 $ 22 Deferred tax valuation allowance: Beginning balance, January 1 $ 53 $ 56 $ 41 Additions charged to costs and expenses — — 15 Deductions (22) (3) — Ending balance, December 31 31 53 56 Total valuation and qualifying accounts $ 48 $ 69 $ 78 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, 2022
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, 2022 2021 2020 Deferred policy acquisition costs: Commercial lines insurance $ 372 $ 345 $ 317 Personal lines insurance 168 145 136 Excess and surplus lines insurance 37 33 28 Other 105 79 61 Total $ 682 $ 602 $ 542 Reserves for unpaid claims and claim adjustment expenses: Commercial lines insurance $ 5,568 $ 5,007 $ 4,881 Personal lines insurance 916 814 739 Excess and surplus lines insurance 753 577 446 Other 1,099 831 611 Total $ 8,336 $ 7,229 $ 6,677 Reserve discount deducted $ — $ — $ — Gross unearned premiums: Commercial lines insurance $ 2,021 $ 1,857 $ 1,714 Personal lines insurance 994 850 797 Excess and surplus lines insurance 236 207 175 Other 437 356 273 Total $ 3,688 $ 3,270 $ 2,959 Earned premiums: Commercial lines insurance $ 4,024 $ 3,674 $ 3,476 Personal lines insurance 1,689 1,542 1,463 Excess and surplus lines insurance 485 398 325 Other 726 570 427 Total $ 6,924 $ 6,184 $ 5,691 Investment income, net of expenses: Commercial lines insurance $ — $ — $ — Personal lines insurance — — — Excess and surplus lines insurance — — — Other — — — Total (1) $ 509 $ 457 $ 431 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, 2022 2021 2020 Loss and loss expenses incurred related to current accident year: Commercial lines insurance $ 2,837 $ 2,293 $ 2,431 Personal lines insurance 1,227 1,042 995 Excess and surplus lines insurance 324 243 192 Other 487 446 350 Total $ 4,875 $ 4,024 $ 3,968 Loss and loss expenses incurred related to prior accident years: Commercial lines insurance $ (76) $ (353) $ (95) Personal lines insurance (61) (50) (18) Excess and surplus lines insurance (9) 7 7 Other (13) (32) (25) Total $ (159) $ (428) $ (131) Amortization of deferred policy acquisition costs: Commercial lines insurance $ 769 $ 703 $ 664 Personal lines insurance 311 276 256 Excess and surplus lines insurance 79 63 51 Other 144 109 86 Total $ 1,303 $ 1,151 $ 1,057 Paid loss and loss expenses: Commercial lines insurance $ 2,211 $ 1,806 $ 1,969 Personal lines insurance 1,071 914 921 Excess and surplus lines insurance 145 118 112 Other 260 256 181 Total $ 3,687 $ 3,094 $ 3,183 Net written premiums: Commercial lines insurance $ 4,159 $ 3,811 $ 3,534 Personal lines insurance 1,831 1,594 1,503 Excess and surplus lines insurance 502 426 348 Other 815 648 479 Total $ 7,307 $ 6,479 $ 5,864

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
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. 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 1,984 independent insurance agencies with 2,861 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.
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). 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 $337 million and $227 million of private equity investments, $47 million and $36 million of real estate through direct property ownership and development projects in the United States, $37 million and $35 million held on deposit at Lloyd's and $31 million and $31 million of life policy loans at December 31, 2022 and 2021, 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, 2022, 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 50.1% and 52.1% of total earned premiums in 2022 and 2021, respectively. Ohio, our largest state, accounted for 13.4% and 14.4% of total earned premiums in 2022 and 2021, respectively. Illinois, New York, North Carolina, Pennsylvania, Georgia and Indiana each accounted for between 4% and 6% of total earned premiums in 2022. Our largest single agency relationship accounted for approximately 0.6% of our total property casualty earned premiums in 2022. No aggregate agency relationship locations under a single ownership structure accounted for more than 5% of our total property casualty earned premiums in 2022. 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 $13 million, $14 million, $19 million and $9 million at December 31, 2022, 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, 2022, the current fair value of the contract holders’ account value exceeded the current fair value of the BOLI invested assets and cash by approximately $64 million. At December 31, 2021 , the current fair value of the BOLI invested assets and cash exceeded the current fair value of the contract holders’ account value by approximately $79 million. 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.
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, 2022, 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 2022, 2021 or 2020.
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, 2022, 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, 2022 and 2021, 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 Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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 insurance 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. Related to the company's term and whole life products included in life policy and investment contract 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 and investment contract 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. We adopted these ASUs on a modified retrospective basis on January 1, 2023, resulting in an after-t ax increase t o shareholders' e quity of approximately $30 million.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 gains losses Fixed-maturity securities: Corporate $ 7,412 $ 37 $ 580 $ 6,869 States, municipalities and political subdivisions 4,901 24 303 4,622 Commercial mortgage-backed 250 — 16 234 United States government 196 — 5 191 Government-sponsored enterprises 186 — 3 183 Foreign government 34 — 1 33 Total $ 12,979 $ 61 $ 908 $ 12,132 At December 31, 2021 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 Government-sponsored enterprises 8 — — 8 Foreign government 26 — — 26 Total $ 12,230 $ 808 $ 16 $ 13,022
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, 2022 Fair Unrealized Fair Unrealized Fair Unrealized Fixed-maturity securities: Corporate $ 5,651 $ 412 $ 661 $ 168 $ 6,312 $ 580 States, municipalities and political subdivisions 2,600 274 77 29 2,677 303 Commercial mortgage-backed 215 13 14 3 229 16 United States government 146 3 41 2 187 5 Government-sponsored enterprises 123 3 3 — 126 3 Foreign government 25 1 4 — 29 1 Total $ 8,760 $ 706 $ 800 $ 202 $ 9,560 $ 908 At December 31, 2021 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 — Government-sponsored enterprises 7 — — — 7 — Foreign government 16 — — — 16 — Total $ 1,047 $ 15 $ 28 $ 1 $ 1,075 $ 16
Contractual Maturity Dates For Fixed-Maturity And Short-Term Investments	Contractual maturity dates for fixed-maturity securities were: (Dollars in millions) Amortized cost Fair % of fair value At December 31, 2022 Maturity dates: Due in one year or less $ 713 $ 709 5.8 % Due after one year through five years 3,966 3,834 31.6 Due after five years through ten years 3,533 3,357 27.7 Due after ten years 4,767 4,232 34.9 Total $ 12,979 $ 12,132 100.0 %
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, 2022 2021 2020 Investment income: Interest $ 510 $ 477 $ 455 Dividends 275 246 220 Other 11 5 8 Total 796 728 683 Less investment expenses 15 14 13 Total $ 781 $ 714 $ 670 Investment gains and losses, net: Equity securities: Investment gains and losses on securities sold, net $ 16 $ 4 $ 79 Unrealized gains and losses on securities still held, net (1,526) 2,278 841 Subtotal (1,510) 2,282 920 Fixed-maturity securities: Gross realized gains 6 36 16 Gross realized losses (4) (5) (3) Write-down of impaired securities (5) (1) (78) Subtotal (3) 30 (65) Other 46 97 10 Total $ (1,467) $ 2,409 $ 865

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 and 2021. We do not have any liabilities carried at fair value. (Dollars in millions) Level 1 Level 3 At December 31, 2022 Level 2 Total Fixed maturities, available for sale: Corporate $ — $ 6,869 $ — $ 6,869 States, municipalities and political subdivisions — 4,622 — 4,622 Commercial mortgage-backed — 234 — 234 United States government 191 — — 191 Government-sponsored enterprises — 183 — 183 Foreign government — 33 — 33 Subtotal 191 11,941 — 12,132 Common equities 9,454 — — 9,454 Nonredeemable preferred equities — 387 — 387 Separate accounts taxable fixed maturities — 815 — 815 Top Hat savings plan mutual funds and common 57 — — 57 Total $ 9,702 $ 13,143 $ — $ 22,845 At December 31, 2021 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 Government-sponsored enterprises — 8 — 8 Foreign government — 26 — 26 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
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) Level 1 Level 2 Level 3 Total At December 31, 2022 Life policy loans $ — $ — $ 37 $ 37 At December 31, 2021 Life policy loans $ — $ — $ 44 $ 44
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) Level 1 Level 2 Level 3 Total At December 31, 2022 Deferred annuities $ — $ — $ 621 $ 621 Structured settlements — 143 — 143 Total $ — $ 143 $ 621 $ 764 At December 31, 2021 Deferred annuities $ — $ — $ 778 $ 778 Structured settlements — 201 — 201 Total $ — $ 201 $ 778 $ 979
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) Level 1 Level 2 Level 3 Total At December 31, 2022 Note payable $ — $ 50 $ — $ 50 6.900% senior debentures, due 2028 — 29 — 29 6.920% senior debentures, due 2028 — 418 — 418 6.125% senior notes, due 2034 — 388 — 388 Total $ — $ 885 $ — $ 885 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

Property Casualty Loss and Lo_2

Property Casualty Loss and Loss Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Gross loss and loss expense reserves, January 1 $ 7,229 $ 6,677 $ 6,088 Less reinsurance recoverable 327 277 342 Net loss and loss expense reserves, January 1 6,902 6,400 5,746 Net incurred loss and loss expenses related to: Current accident year 4,875 4,024 3,968 Prior accident years (159) (428) (131) Total incurred 4,716 3,596 3,837 Net paid loss and loss expenses related to: Current accident year 1,592 1,379 1,493 Prior accident years 2,095 1,715 1,690 Total paid 3,687 3,094 3,183 Net loss and loss expense reserves, December 31 7,931 6,902 6,400 Plus reinsurance recoverable 405 327 277 Gross loss and loss expense reserves, December 31 $ 8,336 $ 7,229 $ 6,677
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, 2022. (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 $ 5,932 $ 3,396 $ 86 $ 2,622 $ 43 $ 2,665 Workers' compensation 1,865 1,215 311 961 57 1,018 Commercial auto 2,332 1,581 40 791 5 796 Commercial property 3,312 2,774 15 553 47 600 Personal auto 1,831 1,557 13 287 28 315 Homeowner 2,275 1,952 6 329 8 337 Excess and surplus 1,272 587 2 687 37 724 Other lines 1,512 Total liabilities for loss and ALAE reserves 7,967 Unallocated loss adjustment expense reserves 369 Gross loss and loss expense reserves $ 8,336
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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of Accident Unaudited Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 $ 448 $ 443 $ 431 $ 416 $ 413 $ 407 $ 391 $ 386 $ 385 $ 381 $ 9 20 2014 503 496 479 476 479 465 469 466 462 10 21 2015 533 526 529 516 508 502 504 496 14 22 2016 563 574 557 555 554 538 531 32 22 2017 610 597 577 571 555 554 51 21 2018 650 641 622 588 612 77 22 2019 672 643 607 669 124 20 2020 674 629 606 188 14 2021 714 697 338 13 2022 924 613 10 Total $ 5,932 Cumulative paid losses and ALAE, net of reinsurance 2013 $ 35 $ 90 $ 159 $ 232 $ 286 $ 312 $ 337 $ 348 $ 355 $ 366 2014 34 97 172 287 338 390 409 421 437 2015 38 108 200 287 362 404 424 453 2016 46 126 228 331 395 434 466 2017 48 122 234 320 392 437 2018 44 148 253 345 441 2019 39 134 259 394 2020 33 102 242 2021 31 123 2022 37 Total 3,396 All outstanding liabilities before 2013, net of reinsurance 86 Liabilities for loss and ALAE, net of reinsurance $ 2,622 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of Accident Unaudited Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 $ 264 $ 246 $ 221 $ 212 $ 208 $ 205 $ 202 $ 201 $ 204 $ 204 $ 16 20 2014 261 233 214 203 201 198 197 202 202 16 19 2015 246 220 208 195 179 173 173 171 23 17 2016 230 218 206 188 183 183 183 24 16 2017 218 208 190 183 172 167 27 15 2018 222 207 199 186 179 28 15 2019 224 215 202 188 41 14 2020 204 190 172 55 11 2021 202 190 49 11 2022 209 84 10 Total $ 1,865 Cumulative paid losses and ALAE, net of reinsurance 2013 $ 61 $ 119 $ 144 $ 157 $ 164 $ 168 $ 170 $ 174 $ 177 $ 179 2014 56 110 134 148 157 162 165 168 171 2015 47 93 115 129 134 137 139 139 2016 46 97 119 131 141 146 148 2017 45 88 106 114 119 122 2018 48 95 115 127 133 2019 49 94 115 122 2020 37 68 82 2021 37 82 2022 37 Total 1,215 All outstanding liabilities before 2013, net of reinsurance 311 Liabilities for loss and ALAE, net of reinsurance $ 961 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2018 2019 2020 2021 2022 2018 $ 453 $ 442 $ 442 $ 440 $ 444 $ 9 49 2019 452 451 453 469 18 46 2020 424 391 384 37 36 2021 470 477 91 39 2022 558 181 37 Total $ 2,332 Cumulative paid losses and ALAE, net of reinsurance 2018 $ 184 $ 266 $ 337 $ 378 $ 411 2019 183 268 333 395 2020 154 214 280 2021 179 278 2022 217 Total 1,581 All outstanding liabilities before 2018, net of reinsurance 40 Liabilities for loss and ALAE, net of reinsurance $ 791 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2018 2019 2020 2021 2022 2018 $ 630 $ 603 $ 590 $ 597 $ 596 $ 4 18 2019 621 606 600 598 6 17 2020 855 742 719 29 24 2021 607 586 15 14 2022 813 195 13 Total $ 3,312 Cumulative paid losses and ALAE, net of reinsurance 2018 $ 386 $ 559 $ 576 $ 589 $ 592 2019 413 561 579 590 2020 489 637 672 2021 326 527 2022 393 Total 2,774 All outstanding liabilities before 2018, net of reinsurance 15 Liabilities for loss and ALAE, net of reinsurance $ 553 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2018 2019 2020 2021 2022 2018 $ 424 $ 398 $ 395 $ 398 $ 401 $ 3 111 2019 399 383 380 383 4 102 2020 305 281 277 7 71 2021 350 343 14 80 2022 427 58 80 Total $ 1,831 Cumulative paid losses and ALAE, net of reinsurance 2018 $ 262 $ 327 $ 358 $ 379 $ 391 2019 250 314 346 363 2020 186 225 248 2021 219 278 2022 277 Total 1,557 All outstanding liabilities before 2018, net of reinsurance 13 Liabilities for loss and ALAE, net of reinsurance $ 287 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2018 2019 2020 2021 2022 2018 $ 370 $ 386 $ 387 $ 388 $ 386 $ 1 24 2019 432 421 422 418 2 22 2020 497 475 470 7 23 2021 495 449 15 19 2022 552 120 17 Total $ 2,275 Cumulative paid losses and ALAE, net of reinsurance 2018 $ 268 $ 368 $ 378 $ 381 $ 384 2019 303 391 407 411 2020 326 434 453 2021 285 405 2022 299 Total 1,952 All outstanding liabilities before 2018, net of reinsurance 6 Liabilities for loss and ALAE, net of reinsurance $ 329 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, 2022 Incurred losses and ALAE, net of reinsurance for the years ended December 31, Total of incurred Cumulative number of reported claims Accident Unaudited Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 $ 74 $ 64 $ 54 $ 45 $ 42 $ 41 $ 41 $ 41 $ 40 $ 41 $ — 2 2014 95 82 75 64 60 59 59 58 56 1 2 2015 96 81 73 67 65 66 65 61 1 2 2016 93 87 84 82 90 91 88 2 3 2017 104 95 95 94 94 91 5 3 2018 116 109 110 108 107 14 3 2019 137 135 141 139 28 3 2020 172 172 160 51 3 2021 217 235 98 3 2022 294 198 2 Total $ 1,272 Cumulative paid losses and ALAE, net of reinsurance 2013 $ 7 $ 12 $ 20 $ 27 $ 32 $ 34 $ 37 $ 39 $ 39 $ 40 2014 9 17 27 37 43 48 51 53 55 2015 8 19 29 41 51 54 56 58 2016 10 21 39 51 62 75 81 2017 11 23 41 57 68 77 2018 11 26 50 62 75 2019 13 34 55 79 2020 16 37 56 2021 17 45 2022 21 Total 587 All outstanding liabilities before 2013, net of reinsurance 2 Liabilities for loss and ALAE, net of reinsurance $ 687
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 6.9% 14.0% 18.9% 18.7% 13.5% 8.4% 5.1% 3.8% 2.7% 2.4% 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 24.8% 25.4% 11.2% 6.1% 3.8% 2.2% 1.3% 1.0% 1.3% 0.9% 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 39.4% 18.3% 15.6% 11.1% 7.8% 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 61.1% 27.2% 3.6% 2.0% 0.4% 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 65.2% 16.1% 8.2% 4.9% 2.8% 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 65.8% 24.2% 3.5% 0.9% 0.7% 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 11.3% 13.7% 18.1% 16.1% 12.7% 9.1% 5.2% 3.3% 1.7% 2.8%

Life Policy And Investment Co_2

Life Policy And Investment Contract Reserves (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 Life policy reserves: Ordinary/traditional life $ 1,451 $ 1,376 Other 54 52 Subtotal 1,505 1,428 Investment contract reserves: Deferred annuities 735 762 Universal life 682 679 Structured settlements 129 136 Other 8 9 Subtotal 1,554 1,586 Total life policy and investment contract reserves $ 3,059 $ 3,014

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Property casualty: Deferred policy acquisition costs asset, January 1 $ 602 $ 542 $ 512 Capitalized deferred policy acquisition costs 1,383 1,211 1,087 Amortized deferred policy acquisition costs (1,303) (1,151) (1,057) Deferred policy acquisition costs asset, December 31 $ 682 $ 602 $ 542 Life: Deferred policy acquisition costs asset, January 1 $ 303 $ 263 $ 262 Capitalized deferred policy acquisition costs 60 59 58 Amortized deferred policy acquisition costs (44) (46) (49) Shadow deferred policy acquisition costs 13 27 (8) Deferred policy acquisition costs asset, December 31 $ 332 $ 303 $ 263 Consolidated: Deferred policy acquisition costs asset, January 1 $ 905 $ 805 $ 774 Capitalized deferred policy acquisition costs 1,443 1,270 1,145 Amortized deferred policy acquisition costs (1,347) (1,197) (1,106) Shadow deferred policy acquisition costs 13 27 (8) Deferred policy acquisition costs asset, December 31 $ 1,014 $ 905 $ 805

Long-Term Debt And Lease Obli_2

Long-Term Debt And Lease Obligation (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2022 2021 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 371 371 374 374 Total $ 789 $ 789 $ 793 $ 793
Lease Obligations Over Next Five Years and Thereafter	interest for finance and operating leases: (Dollars in millions) Years ended December 31, 2023 2024 2025 2026 2027 2028 and thereafter Finance lease obligations $ 16 $ 12 $ 8 $ 6 $ 3 $ 2 Operating lease obligations 2 2 2 1 1 1 Total lease obligations $ 18 $ 14 $ 10 $ 7 $ 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, 2022 2021 2020 Lease cost: Finance lease cost $ 14 $ 15 $ 15 Operating lease cost 5 4 4 Total lease cost $ 19 $ 19 $ 19 Other information finance leases: Finance cash outflows $ 15 $ 15 $ 15 Weighted average discount rate 3.20 % 2.46 % 2.62 % Weighted average remaining lease term in years 3.49 3.45 3.67 Other information operating leases: Operating cash outflows $ 4 $ 4 $ 8 Weighted average discount rate 3.44 % 2.86 % 3.65 % Weighted average remaining lease term in years 4.53 4.37 4.84

Shareholders' Equity And Divi_2

Shareholders' Equity And Dividend Restrictions (Tables)	12 Months Ended
	Dec. 31, 2022
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) 2022 2021 2020 Before Income Net Before Income Net Before Income Net Investments: AOCI, January 1 $ 792 $ 165 $ 627 $ 1,026 $ 215 $ 811 $ 590 $ 123 $ 467 OCI before investment gains and losses, net, recognized in net income (1,642) (347) (1,295) (204) (44) (160) 371 78 293 Investment gains and losses, net, recognized in net income 3 — 3 (30) (6) (24) 65 14 51 OCI (1,639) (347) (1,292) (234) (50) (184) 436 92 344 AOCI, December 31 $ (847) $ (182) $ (665) $ 792 $ 165 $ 627 $ 1,026 $ 215 $ 811 Pension obligations: AOCI, January 1 $ 27 $ 7 $ 20 $ (41) $ (7) $ (34) $ (9) $ — $ (9) OCI excluding amortization recognized in net income 12 2 10 62 12 50 (35) (7) (28) Amortization recognized in net income (3) — (3) 6 2 4 3 — 3 OCI 9 2 7 68 14 54 (32) (7) (25) AOCI, December 31 $ 36 $ 9 $ 27 $ 27 $ 7 $ 20 $ (41) $ (7) $ (34) Life deferred acquisition costs, life policy reserves and other: AOCI, January 1 $ 1 $ — $ 1 $ (10) $ (2) $ (8) $ (13) $ (3) $ (10) OCI before investment gains and losses, net, recognized in net income 1 — 1 11 2 9 3 1 2 Investment gains and losses, net, recognized in net income — — — — — — — — — OCI 1 — 1 11 2 9 3 1 2 AOCI, December 31 $ 2 $ — $ 2 $ 1 $ — $ 1 $ (10) $ (2) $ (8) Summary of AOCI: AOCI, January 1 $ 820 $ 172 $ 648 $ 975 $ 206 $ 769 $ 568 $ 120 $ 448 Investments OCI (1,639) (347) (1,292) (234) (50) (184) 436 92 344 Pension obligations OCI 9 2 7 68 14 54 (32) (7) (25) Life deferred acquisition costs, life policy reserves and other OCI 1 — 1 11 2 9 3 1 2 Total OCI (1,629) (345) (1,284) (155) (34) (121) 407 86 321 AOCI, December 31 $ (809) $ (173) $ (636) $ 820 $ 172 $ 648 $ 975 $ 206 $ 769

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Direct written premiums $ 7,002 $ 6,229 $ 5,756 Assumed written premiums 619 515 335 Ceded written premiums (314) (265) (227) Net written premiums $ 7,307 $ 6,479 $ 5,864 Direct earned premiums $ 6,677 $ 5,996 $ 5,623 Assumed earned premiums 561 443 285 Ceded earned premiums (314) (255) (217) Earned premiums $ 6,924 $ 6,184 $ 5,691 Direct incurred loss and loss expenses $ 4,495 $ 3,352 $ 3,699 Assumed incurred loss and loss expenses 396 366 184 Ceded incurred loss and loss expenses (175) (122) (46) Incurred loss and loss expenses $ 4,716 $ 3,596 $ 3,837
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, 2022 2021 2020 Direct earned premiums $ 373 $ 374 $ 362 Ceded earned premiums (78) (76) (73) Earned premiums $ 295 $ 298 $ 289 Direct contract holders' benefits incurred $ 386 $ 423 $ 359 Ceded contract holders' benefits incurred (90) (83) (62) Contract holders' benefits incurred $ 296 $ 340 $ 297

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 Deferred tax assets: Unearned premiums $ 148 $ 131 Loss and loss expense reserves 106 92 Net operating loss on international earnings 28 34 Deferred international earnings 16 31 Other 55 50 Deferred tax assets before valuation allowance 353 338 Valuation allowance for international operations 31 53 Deferred tax assets net of valuation allowance 322 285 Deferred tax liabilities: Investment gains and other, net 992 1,684 Deferred acquisition costs 171 155 Life policy reserves 112 116 Investments 31 38 Other 61 36 Total gross deferred tax liabilities 1,367 2,029 Net deferred income tax liability $ 1,045 $ 1,744
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, 2022 2021 2020 United States $ (718) $ 3,644 $ 1,521 International 25 26 (22) Total income (loss) before income taxes $ (693) $ 3,670 $ 1,499
Schedule of The Provision (Benefit) of Income Taxes	The provision (benefit) for income taxes consists of: (Dollars in millions) For the years ended December 31, 2022 2021 2020 Provision (benefit) for income taxes: Current – United States federal $ 148 $ 248 $ 147 International — (1) — Total current 148 247 147 Deferred – United States federal (355) 477 136 International — — — Total deferred (355) 477 136 Total provision (benefit) for income taxes $ (207) $ 724 $ 283
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, 2022 2021 2020 Tax at statutory rate: $ (146) 21.0 % $ 771 21.0 % $ 315 21.0 % Increase (decrease) resulting from: Tax-exempt income from municipal bonds (20) 2.9 (20) (0.5) (20) (1.3) Dividend received exclusion (21) 3.0 (20) (0.5) (17) (1.1) Release of unrecognized tax benefit (34) 4.9 — — — — Other 14 (1.9) (7) (0.3) 5 0.3 Provision (benefit) for income taxes $ (207) 29.9 % $ 724 19.7 % $ 283 18.9 %
Schedule of Unrecognized Tax Benefits Roll Forward	The following is a tabular reconciliation of the total amounts of unrecognized tax benefits: (Dollars in millions) Years ended December 31, 2022 2021 2020 Gross unrecognized tax benefits, January 1 $ 34 $ 34 $ 34 Gross increase in prior year positions — — — Gross decrease in prior year positions (34) — — Gross increase in current year positions — — — Settlements with tax authorities — — — Lapse of statute of limitations — — — Gross unrecognized tax benefits, December 31 $ — $ 34 $ 34
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, 2022 2021 2020 Valuation allowance, January 1 $ 53 $ 56 $ 41 Current year operations (22) (3) 15 Valuation allowance, December 31 $ 31 $ 53 $ 56

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 Numerator: Net income (loss)—basic and diluted $ (486) $ 2,946 $ 1,216 Denominator: Basic weighted-average common shares outstanding 158.8 161.0 161.2 Effect of share-based awards: Stock options — 1.1 0.7 Nonvested shares — 0.6 0.5 Diluted weighted-average shares 158.8 162.7 162.4 Earnings (loss) per share: Basic $ (3.06) $ 18.29 $ 7.55 Diluted (3.06) 18.10 7.49 Number of anti-dilutive share-based awards 2.2 0.8 1.4

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2022
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 2022 2021 2022 2021 Discount rate 5.34 % 2.97 % 5.42 % 2.90 % Rate of compensation increase 4.50 2.25-3.25 4.50 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 2022 2021 2020 2022 2021 2020 Discount rate 2.97 % 2.68 % 3.40 % 2.90 % 2.52 % 3.33 % 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, 2022 2021 Change in projected benefit obligation: Benefit obligation, January 1 $ 362 $ 387 Service cost 9 10 Interest cost 10 10 Actuarial gain (70) (5) Benefits paid (29) (41) Other — 1 Projected benefit obligation, December 31 $ 282 $ 362 Change in plan assets: Fair value of plan assets, January 1 $ 397 $ 357 Actual return on plan assets (36) 78 Employer contribution — 3 Benefits paid (29) (41) Fair value of plan assets, December 31 $ 332 $ 397 Funded status, December 31 $ 50 $ 35 Accumulated benefit obligation $ 264 $ 338
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, 2022 2021 Pension amounts recognized in the consolidated balance sheets: Other assets $ 50 $ 35 Total $ 50 $ 35 Pension amounts recognized in accumulated other comprehensive income: Net actuarial gain $ 36 $ 27 Total $ 36 $ 27
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, 2022 2021 2020 Net periodic benefit cost: Service cost $ 9 $ 10 $ 9 Non-service costs (benefit): Interest cost 10 10 12 Expected return on plan assets (22) (21) (21) Amortization of actuarial loss and prior service cost — 6 3 Other (3) 1 3 Net periodic benefit cost $ (6) $ 6 $ 6 Other changes in plan assets and benefit obligations recognized in other Current year actuarial (gain) loss $ (12) $ (62) $ 38 Amortization of actuarial gain (loss) 3 (7) (6) Current year prior service cost — 1 — Total recognized in other comprehensive (income) loss $ (9) $ (68) $ 32 Total recognized in net periodic benefit cost and other comprehensive $ (15) $ (62) $ 38
Fair Value Hierarchy Of Assets Measured At Fair Value On A Recurring Basis	(Dollars in millions) Level 1 Level 2 Level 3 Total At December 31, 2022 Fixed maturities, available for sale: United States government $ 31 $ — $ — $ 31 Corporate — 7 — 7 States, municipalities and political subdivisions — 6 — 6 Total fixed maturities, available for sale 31 13 — 44 Common equities 245 — — 245 Total $ 276 $ 13 $ — $ 289 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
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, 2023 2024 2025 2026 2027 2028 - 2032 Expected future benefit payments $ 57 $ 20 $ 23 $ 28 $ 27 $ 140

Statutory Accounting Informat_2

Statutory Accounting Information (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022 2021 2020 2022 2021 The Cincinnati Insurance Company $ 520 $ 929 $ 466 $ 6,512 $ 7,247 The Cincinnati Casualty Company 14 15 14 495 500 The Cincinnati Indemnity Company 4 5 3 126 126 The Cincinnati Specialty Underwriters Insurance Company 61 47 42 542 571 The Cincinnati Life Insurance Company 64 41 27 326 270

Share-Based Associate Compens_2

Share-Based Associate Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Stock Option Information	Below is a summary of option information for the year 2022: (Dollars in millions, except exercise price. Shares in thousands) Shares Weighted- Aggregate Weighted-average Outstanding option shares at January 1, 2022 3,552 $ 78.52 Granted 469 123.94 Exercised (330) 59.55 Forfeited or expired (83) 75.95 Outstanding option shares at December 31, 2022 3,608 86.21 $ 73 5.74 years Options exercisable at end of period 2,763 $ 78.04 $ 71 4.90 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 2022: (Shares in thousands) Service-based Weighted- Performance-based Weighted- Nonvested at January 1, 2022 634 $ 90.01 139 $ 103.16 Granted 176 116.22 68 140.50 Vested (256) 81.73 (52) 87.97 Forfeited or canceled (31) 101.24 — — Nonvested at December 31, 2022 523 102.26 155 124.69
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: 2022 2021 2020 Weighted-average expected term 7-9 years 7-9 years 7-8 years Expected volatility 26.34-28.87% 25.56-27.81% 16.89-17.13% Dividend yield 2.23% 2.62% 2.15% Risk-free rates 1.90-1.92% 0.97-1.26% 1.40-1.41% Weighted-average fair value of options granted during the period $30.34 $19.64 $15.45
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: 2022 2021 2020 Expected term 2.86 years 2.85 years 2.86 years Expected volatility 30.09-49.28% 29.50-47.26% 15.88-25.13% Dividend yield 2.19% 2.62% 2.15% Risk-free rates 1.64% 0.20% 1.30%

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment information is summarized in the following table: (Dollars in millions) Years ended December 31, 2022 2021 2020 Revenues: Commercial lines insurance Commercial casualty $ 1,416 $ 1,270 $ 1,165 Commercial property 1,136 1,043 1,010 Commercial auto 842 794 755 Workers' compensation 284 268 271 Other commercial 346 299 275 Commercial lines insurance premiums 4,024 3,674 3,476 Fee revenues 4 4 3 Total commercial lines insurance 4,028 3,678 3,479 Personal lines insurance Personal auto 626 609 615 Homeowner 829 726 658 Other personal 234 207 190 Personal lines insurance premiums 1,689 1,542 1,463 Fee revenues 4 4 4 Total personal lines insurance 1,693 1,546 1,467 Excess and surplus lines insurance 485 398 325 Fee revenues 2 2 2 Total excess and surplus lines insurance 487 400 327 Life insurance premiums 295 298 289 Fee revenues 4 5 2 Total life insurance 299 303 291 Investments Investment income, net of expenses 781 714 670 Investment gains and losses, net (1,467) 2,409 865 Total investment revenue (686) 3,123 1,535 Other Premiums 726 570 427 Other 10 10 10 Total other revenue 736 580 437 Total revenues $ 6,557 $ 9,630 $ 7,536 Income (loss) before income taxes: Insurance underwriting results Commercial lines insurance $ 38 $ 598 $ 64 Personal lines insurance 18 97 47 Excess and surplus lines insurance 48 44 34 Life insurance 28 (16) 11 Investments (795) 3,018 1,433 Other (30) (71) (90) Total income (loss) before income taxes $ (693) $ 3,670 $ 1,499 December 31, December 31, Identifiable assets: 2022 2021 Property casualty insurance $ 5,178 $ 4,421 Life insurance 1,522 1,590 Investments 22,133 24,481 Other 903 895 Total $ 29,736 $ 31,387

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) reporting_locations independent_insurance_agency state subsidiary	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	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	1,984
Number of reporting locations | reporting_locations	2,861
Number of states in which entity operates | state	46
Excess (deficit) of Separate Account Fair Value over (under) Contract Holder Account Value	$ (64,000,000)	$ 79,000,000
Other invested assets	452,000,000	329,000,000
Depreciation expense	33,000,000	33,000,000	$ 33,000,000
Land, building and equipment impairments	0	0	0
Premium Receivable, Allowance for Credit Loss	13,000,000	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			$ 85,000,000
Minimum participant age to elect				40 years
Accounting Standards Update 2018-12
Significant Accounting Policies
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 30,000,000
Minimum [Member]
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	31,000,000
Venture Capital Funds
Significant Accounting Policies
Other invested assets	337,000,000	227,000,000
Real Estate Investment
Significant Accounting Policies
Other invested assets	47,000,000	36,000,000
Other than Securities Investment
Significant Accounting Policies
Other invested assets	$ 37,000,000	$ 35,000,000
10 Largest States
Significant Accounting Policies
Percentage Of Premiums	50.10%	52.10%
Ohio, Largest State
Significant Accounting Policies
Percentage Of Premiums	13.40%	14.40%
Illinois, New York, North Carolina, Pennsylvania, Georgia and Indiana | Minimum [Member]
Significant Accounting Policies
Percentage Of Premiums	4%
Illinois, New York, North Carolina, Pennsylvania, Georgia and Indiana | Maximum
Significant Accounting Policies
Percentage Of Premiums	6%
Largest Single Agency Relationship
Significant Accounting Policies
Percentage Of Premiums	0.60%
All Other | Maximum
Significant Accounting Policies
Percentage Of Premiums	5%
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 [Member]
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, 2022 USD ($) security	Dec. 31, 2021 USD ($) security	Dec. 31, 2020 USD ($) security
Gain (Loss) on Investments
Largest single common stock holding	$ 597	$ 862
Largest equity holdings to total equity portfolio	6.30%	7.90%
Largest equity holdings to total portfolio	2.70%	3.50%
Assets Held by Insurance Regulators	$ 107	$ 119
Collateral at fair value	135	116
Fair Value of Owned Common Equities Held in Trust Account	101	84
Equity Securities at Fair Value	9,841	11,315
Debt Securities, Available-for-Sale, Allowance for Credit Loss	1
Changes in Allowance for Credit Losses During Period	$ 1
Maximum
Gain (Loss) on Investments
Debt Securities, Available-for-Sale, Allowance for Credit Loss		0
Changes in Allowance for Credit Losses During Period		$ 0
Fixed Maturities
Gain (Loss) on Investments
Number of securities below 70 percent of amortized cost	49	0	0
Number Of Impaired Securities Intended to be Sold | security	3	5	14
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss 3	$ 908	$ 16	$ 10
Number Of Securities Continuous Unrealized Loss Position | security	3,272	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, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities
Total	$ 12,979	$ 12,230
Fixed maturities, unrealized gains	61	808
Fixed maturities, unrealized losses	908	16
Fair value of fixed maturities	12,132	13,022
Corporate Securities
Schedule of Available-for-sale Securities
Total	7,412	7,043
Fixed maturities, unrealized gains	37	467
Fixed maturities, unrealized losses	580	13
Fair value of fixed maturities	6,869	7,497
States, Municipalities and Political Subdivisions
Schedule of Available-for-sale Securities
Total	4,901	4,768
Fixed maturities, unrealized gains	24	330
Fixed maturities, unrealized losses	303	3
Fair value of fixed maturities	4,622	5,095
Commercial Mortgage Backed Securities
Schedule of Available-for-sale Securities
Total	250	264
Fixed maturities, unrealized gains	0	9
Fixed maturities, unrealized losses	16	0
Fair value of fixed maturities	234	273
United States Government
Schedule of Available-for-sale Securities
Total	196	121
Fixed maturities, unrealized gains	0	2
Fixed maturities, unrealized losses	5	0
Fair value of fixed maturities	191	123
Government-Sponsored Enterprises
Schedule of Available-for-sale Securities
Total	186	8
Fixed maturities, unrealized gains	0	0
Fixed maturities, unrealized losses	3	0
Fair value of fixed maturities	183	8
Foreign Government
Schedule of Available-for-sale Securities
Total	34	26
Fixed maturities, unrealized gains	0	0
Fixed maturities, unrealized losses	1	0
Fair value of fixed maturities	33	26
Fixed Maturities
Schedule of Available-for-sale Securities
Fixed maturities, unrealized losses	908	16
Fixed Maturities | Corporate Securities
Schedule of Available-for-sale Securities
Fixed maturities, unrealized losses	580	13
Fixed Maturities | States, Municipalities and Political Subdivisions
Schedule of Available-for-sale Securities
Fixed maturities, unrealized losses	303	3
Fixed Maturities | Commercial Mortgage Backed Securities
Schedule of Available-for-sale Securities
Fixed maturities, unrealized losses	16	0
Fixed Maturities | United States Government
Schedule of Available-for-sale Securities
Fixed maturities, unrealized losses	5	0
Fixed Maturities | Government-Sponsored Enterprises
Schedule of Available-for-sale Securities
Fixed maturities, unrealized losses	$ 3	$ 0

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) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investments, Unrealized Loss Position
Total Unrealized Losses	$ 908	$ 16
Corporate Securities
Investments, Unrealized Loss Position
Total Unrealized Losses	580	13
States, Municipalities and Political Subdivisions
Investments, Unrealized Loss Position
Total Unrealized Losses	303	3
Commercial Mortgage Backed Securities
Investments, Unrealized Loss Position
Total Unrealized Losses	16	0
United States Government
Investments, Unrealized Loss Position
Total Unrealized Losses	5	0
Government-Sponsored Enterprises
Investments, Unrealized Loss Position
Total Unrealized Losses	3	0
Fixed Maturities
Investments, Unrealized Loss Position
Less than 12 months fair value	8,760	1,047
Less than 12 Months, Unrealized losses	706	15
12 months or more fair value	800	28
12 Months or more, unrealized losses	202	1
Total fair value	9,560	1,075
Total Unrealized Losses	908	16
Fixed Maturities | Corporate Securities
Investments, Unrealized Loss Position
Less than 12 months fair value	5,651	861
Less than 12 Months, Unrealized losses	412	13
12 months or more fair value	661	15
12 Months or more, unrealized losses	168	0
Total fair value	6,312	876
Total Unrealized Losses	580	13
Fixed Maturities | States, Municipalities and Political Subdivisions
Investments, Unrealized Loss Position
Less than 12 months fair value	2,600	105
Less than 12 Months, Unrealized losses	274	2
12 months or more fair value	77	2
12 Months or more, unrealized losses	29	1
Total fair value	2,677	107
Total Unrealized Losses	303	3
Fixed Maturities | Commercial Mortgage Backed Securities
Investments, Unrealized Loss Position
Less than 12 months fair value	215	10
Less than 12 Months, Unrealized losses	13	0
12 months or more fair value	14	11
12 Months or more, unrealized losses	3	0
Total fair value	229	21
Total Unrealized Losses	16	0
Fixed Maturities | United States Government
Investments, Unrealized Loss Position
Less than 12 months fair value	146	48
Less than 12 Months, Unrealized losses	3	0
12 months or more fair value	41	0
12 Months or more, unrealized losses	2	0
Total fair value	187	48
Total Unrealized Losses	5	0
Fixed Maturities | Government-Sponsored Enterprises
Investments, Unrealized Loss Position
Less than 12 months fair value	123	7
Less than 12 Months, Unrealized losses	3	0
12 months or more fair value	3	0
12 Months or more, unrealized losses	0	0
Total fair value	126	7
Total Unrealized Losses	3	0
Fixed Maturities | Foreign government
Investments, Unrealized Loss Position
Less than 12 months fair value	25	16
Less than 12 Months, Unrealized losses	1	0
12 months or more fair value	4	0
12 Months or more, unrealized losses	0	0
Total fair value	29	16
Total Unrealized Losses	$ 1	$ 0

Investments (Contractual Maturi

Investments (Contractual Maturity Dates For Fixed-Maturity And Short-Term Investments) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Amortized cost
Due in one year or less	$ 713
Due after one year through five years	3,966
Due after five years through ten years	3,533
Due after ten years	4,767
Total	12,979	$ 12,230
Fair value
Due in one year or less	709
Due after one year through five years	3,834
Due after five years through ten years	3,357
Due after ten years	4,232
Total	$ 12,132	$ 13,022
% of fair value
Due in one year or less	5.80%
Due after one year through five years	31.60%
Due after five years through ten years	27.70%
Due after ten years	34.90%
Total	100%

Investments (Investment Income

Investments (Investment Income Realized Investment Gains And Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investment income:
Interest	$ 510	$ 477	$ 455
Dividends	275	246	220
Other	11	5	8
Total	796	728	683
Less investment expenses	15	14	13
Total	781	714	670
Gain (Loss) on Sale of Investments	(1,493)	2,353	851
Investment gains and losses, net:
Other	46	97	10
Total	(1,467)	2,409	865
Fixed Maturities
Investment gains and losses, net:
Gross realized gains	6	36	16
Gross realized losses	(4)	(5)	(3)
Write-down of impaired securities	(5)	(1)	(78)
Total	(3)	30	(65)
Equity Securities
Investment income:
Gain (Loss) on Sale of Investments	16	4	79
Unrealized Gain (Loss) on Investments	(1,526)	2,278	841
Investment gains and losses, net:
Total	$ (1,510)	$ 2,282	$ 920

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Cash and cash equivalents	$ 1,264	$ 1,139
Principal amount of debt	793	793
Recorded outstanding principal and interest for these life policy loans	92	98
Loss and loss expense reserves	3,059	3,014
Life policy and investment contract reserves	3,059	3,014
Investment contract reserves
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loss and loss expense reserves	1,554	1,586
Life policy and investment contract reserves	1,554	1,586
Deferred Annuity | Investment contract reserves
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loss and loss expense reserves	735	762
Life policy and investment contract reserves	735	762
Structured Settlement Annuity | Investment contract reserves
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Loss and loss expense reserves	129	136
Life policy and investment contract reserves	129	136
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	$ 31

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, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	$ 12,132	$ 13,022
Separate accounts taxable fixed maturities	892	959
Total	22,845	25,349
Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	6,869	7,497
States, Municipalities and Political Subdivisions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	4,622	5,095
Commercial Mortgage Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	234	273
United States Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	191	123
Government-Sponsored Enterprises
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	183	8
Foreign Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	33	26
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)	57	64
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	191	123
Total	9,702	11,049
Level 1 | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
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
Level 1 | Commercial Mortgage Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Level 1 | United States Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	191	123
Level 1 | Government-Sponsored Enterprises
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Level 1 | Foreign Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
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)	57	64
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	11,941	12,899
Total	13,143	14,300
Level 2 | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	6,869	7,497
Level 2 | States, Municipalities and Political Subdivisions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	4,622	5,095
Level 2 | Commercial Mortgage Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	234	273
Level 2 | United States Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Level 2 | Government-Sponsored Enterprises
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	183	8
Level 2 | Foreign Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	33	26
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
Fair value of fixed maturities	0	0
Total	0	0
Level 3 | Corporate Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
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
Level 3 | Commercial Mortgage Backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Level 3 | United States Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Level 3 | Government-Sponsored Enterprises
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	0	0
Level 3 | Foreign Government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of fixed maturities	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
Equity Securities | Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	9,454	10,862
Equity Securities | Nonredeemable Preferred Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	387	453
Equity Securities | Level 1 | Common Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Total	9,454	10,862
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	387	453
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	815	948
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	815	948
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, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of note payable	$ 50	$ 54
Total	885	1,099
6.900% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	$ 29	$ 34
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	$ 418	$ 501
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	$ 388	$ 510
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	50	54
Total	885	1,099
Level 2 | 6.900% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	29	34
Level 2 | 6.920% Senior Debentures, Due 2028
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	418	501
Level 2 | 6.125% Senior Notes, Due 2034
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of senior debt	388	510
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, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of life policy loans	$ 37	$ 44
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	$ 37	$ 44

Fair Value Measurements (Fair_4

Fair Value Measurements (Fair Value Of Deferred Annuities, Structured Settlements And Other Items) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	$ 764	$ 979
Deferred Annuities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	621	778
Structured Settlements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	143	201
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	143	201
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	143	201
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	621	778
Level 3 | Deferred Annuities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Fair value of deferred annuities and structured settlements	621	778
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, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	$ 8,336,000,000	$ 7,229,000,000	$ 6,677,000,000	$ 6,088,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(159,000,000)	(428,000,000)	(131,000,000)
Net loss and loss expense reserves for asbestos and environmental claims	$ 92,000,000	$ 88,000,000
Percentage of reserves for asbestos and environmental claims	2%	2%
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	64,000,000	$ 76,000,000	69,000,000
Commercial Insurance
Property Casualty Insurance Underwriters
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(76,000,000)	(353,000,000)	(95,000,000)
Commercial Insurance | Commercial Casualty Line
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	2,665,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	25,000,000	(120,000,000)	(54,000,000)
Commercial Insurance | Commercial Property Line
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	600,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(44,000,000)	(97,000,000)	(16,000,000)
Commercial Insurance | Workers' Compensation Line
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	1,018,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(63,000,000)	(66,000,000)	(39,000,000)
Commercial Insurance | Commercial Auto Line
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	796,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	23,000,000	(43,000,000)	17,000,000
Personal Insurance
Property Casualty Insurance Underwriters
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(61,000,000)	(50,000,000)	(18,000,000)
Personal Insurance | Personal Auto
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	315,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable		(31,000,000)	(15,000,000)
Personal Insurance | Homeowner
Property Casualty Insurance Underwriters
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(54,000,000)	(14,000,000)	(5,000,000)
Excess and Surplus Lines Insurance
Property Casualty Insurance Underwriters
Certain accident, life and health loss reserves	724,000,000
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(9,000,000)	7,000,000	7,000,000
Reinsurance assumed and other non segment
Property Casualty Insurance Underwriters
Prior year claims and claims adjustments expense, (favorable) and unfavorable	$ (13,000,000)	$ (32,000,000)	$ (25,000,000)

Consolidated Property Casualty

Consolidated Property Casualty Loss And Loss Expense Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition
Gross loss and loss expense reserves, January 1	$ 7,229	$ 6,677	$ 6,088
Less reinsurance recoverable	327	277	342
Net loss and loss expense reserves, January 1	6,902	6,400	5,746
Net incurred loss and loss expenses related to:
Current accident year	4,875	4,024	3,968
Prior accident years	(159)	(428)	(131)
Total incurred	4,716	3,596	3,837
Net paid loss and loss expenses related to:
Current accident year	1,592	1,379	1,493
Prior accident years	2,095	1,715	1,690
Total paid	3,687	3,094	3,183
Net loss and loss expense reserves, December 31	7,931	6,902	6,400
Plus reinsurance recoverable	405	327	277
Gross loss and loss expense reserves, December 31	$ 8,336	$ 7,229	$ 6,677

Reconciliation of Incurred Loss

Reconciliation of Incurred Losses and ALAE (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	$ 3,312
Total liabilities for loss and ALAE, net of reinsurance	7,967
Reinsurance recoverable on unpaid losses	405	$ 327	$ 277	$ 342
Unallocated loss adjustment expense reserves	369
Total liabilities for gross loss and loss expense reserves	8,336	$ 7,229	$ 6,677	$ 6,088
Other Short-duration Insurance Product Line
Liability for Claims and Claims Adjustment Expense
Total liabilities for loss and ALAE, net of reinsurance	1,512
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	5,932
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	3,396
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	86
Total liabilities for loss and ALAE, net of reinsurance	2,622
Reinsurance recoverable on unpaid losses	43
Total liabilities for gross loss and loss expense reserves	2,665
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	1,865
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	1,215
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	311
Total liabilities for loss and ALAE, net of reinsurance	961
Reinsurance recoverable on unpaid losses	57
Total liabilities for gross loss and loss expense reserves	1,018
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	2,332
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	1,581
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	40
Total liabilities for loss and ALAE, net of reinsurance	791
Reinsurance recoverable on unpaid losses	5
Total liabilities for gross loss and loss expense reserves	796
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	3,312
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	2,774
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	15
Total liabilities for loss and ALAE, net of reinsurance	553
Reinsurance recoverable on unpaid losses	47
Total liabilities for gross loss and loss expense reserves	600
Personal Insurance | Personal Auto
Liability for Claims and Claims Adjustment Expense
Cumulative incurred losses and ALAE as reported within the triangles, net of reinsurance	1,831
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	1,557
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	13
Total liabilities for loss and ALAE, net of reinsurance	287
Reinsurance recoverable on unpaid losses	28
Total liabilities for gross loss and loss expense reserves	315
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	2,275
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	1,952
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	6
Total liabilities for loss and ALAE, net of reinsurance	329
Reinsurance recoverable on unpaid losses	8
Total liabilities for gross loss and loss expense reserves	337
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	1,272
Cumulative paid losses and ALAE as reported within the triangles, net of reinsurance	587
Liabilities for loss and ALAE for accident years not presented in the triangles, net of reinsurance	2
Total liabilities for loss and ALAE, net of reinsurance	687
Reinsurance recoverable on unpaid losses	37
Total liabilities for gross loss and loss expense reserves	$ 724

Claims Development - Commercial

Claims Development - Commercial Casualty (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2022 USD ($) reported_claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,312
Liabilities for loss and ALAE, net of reinsurance	7,967
Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	5,932
Cumulative paid losses and ALAE, net of reinsurance	3,396
All outstanding liabilities before, net of reinsurance	86
Liabilities for loss and ALAE, net of reinsurance	2,622
2013 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	381	$ 385	$ 386	$ 391	$ 407	$ 413	$ 416	$ 431	$ 443	$ 448
Total of incurred but not reported liabilities plus expected development on reported losses	$ 9
Cumulative number of reported claims | reported_claim	20
Cumulative paid losses and ALAE, net of reinsurance	$ 366	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,	462	466	469	465	479	476	479	496	503
Total of incurred but not reported liabilities plus expected development on reported losses	$ 10
Cumulative number of reported claims | reported_claim	21
Cumulative paid losses and ALAE, net of reinsurance	$ 437	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,	496	504	502	508	516	529	526	533
Total of incurred but not reported liabilities plus expected development on reported losses	$ 14
Cumulative number of reported claims | reported_claim	22
Cumulative paid losses and ALAE, net of reinsurance	$ 453	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,	531	538	554	555	557	574	563
Total of incurred but not reported liabilities plus expected development on reported losses	$ 32
Cumulative number of reported claims | reported_claim	22
Cumulative paid losses and ALAE, net of reinsurance	$ 466	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,	554	555	571	577	597	610
Total of incurred but not reported liabilities plus expected development on reported losses	$ 51
Cumulative number of reported claims | reported_claim	21
Cumulative paid losses and ALAE, net of reinsurance	$ 437	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,	612	588	622	641	650
Total of incurred but not reported liabilities plus expected development on reported losses	$ 77
Cumulative number of reported claims | reported_claim	22
Cumulative paid losses and ALAE, net of reinsurance	$ 441	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,	669	607	643	672
Total of incurred but not reported liabilities plus expected development on reported losses	$ 124
Cumulative number of reported claims | reported_claim	20
Cumulative paid losses and ALAE, net of reinsurance	$ 394	259	134	$ 39
2020 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	606	629	674
Total of incurred but not reported liabilities plus expected development on reported losses	$ 188
Cumulative number of reported claims | reported_claim	14
Cumulative paid losses and ALAE, net of reinsurance	$ 242	102	$ 33
2021 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	697	714
Total of incurred but not reported liabilities plus expected development on reported losses	$ 338
Cumulative number of reported claims | reported_claim	13
Cumulative paid losses and ALAE, net of reinsurance	$ 123	$ 31
2022 | Commercial Casualty Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	924
Total of incurred but not reported liabilities plus expected development on reported losses	$ 613
Cumulative number of reported claims | reported_claim	10
Cumulative paid losses and ALAE, net of reinsurance	$ 37

Claims Development - Workers Co

Claims Development - Workers Compensation (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2022 USD ($) reported_claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,312
Liabilities for loss and ALAE, net of reinsurance	7,967
Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	1,865
Cumulative paid losses and ALAE, net of reinsurance	1,215
All outstanding liabilities before, net of reinsurance	311
Liabilities for loss and ALAE, net of reinsurance	961
2013 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	204	$ 204	$ 201	$ 202	$ 205	$ 208	$ 212	$ 221	$ 246	$ 264
Total of incurred but not reported liabilities plus expected development on reported losses	$ 16
Cumulative number of reported claims | reported_claim	20
Cumulative paid losses and ALAE, net of reinsurance	$ 179	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	202	197	198	201	203	214	233	261
Total of incurred but not reported liabilities plus expected development on reported losses	$ 16
Cumulative number of reported claims | reported_claim	19
Cumulative paid losses and ALAE, net of reinsurance	$ 171	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,	171	173	173	179	195	208	220	246
Total of incurred but not reported liabilities plus expected development on reported losses	$ 23
Cumulative number of reported claims | reported_claim	17
Cumulative paid losses and ALAE, net of reinsurance	$ 139	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	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	$ 148	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,	167	172	183	190	208	218
Total of incurred but not reported liabilities plus expected development on reported losses	$ 27
Cumulative number of reported claims | reported_claim	15
Cumulative paid losses and ALAE, net of reinsurance	$ 122	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,	179	186	199	207	222
Total of incurred but not reported liabilities plus expected development on reported losses	$ 28
Cumulative number of reported claims | reported_claim	15
Cumulative paid losses and ALAE, net of reinsurance	$ 133	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,	188	202	215	224
Total of incurred but not reported liabilities plus expected development on reported losses	$ 41
Cumulative number of reported claims | reported_claim	14
Cumulative paid losses and ALAE, net of reinsurance	$ 122	115	94	$ 49
2020 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	172	190	204
Total of incurred but not reported liabilities plus expected development on reported losses	$ 55
Cumulative number of reported claims | reported_claim	11
Cumulative paid losses and ALAE, net of reinsurance	$ 82	68	$ 37
2021 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	190	202
Total of incurred but not reported liabilities plus expected development on reported losses	$ 49
Cumulative number of reported claims | reported_claim	11
Cumulative paid losses and ALAE, net of reinsurance	$ 82	$ 37
2022 | Workers' Compensation Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	209
Total of incurred but not reported liabilities plus expected development on reported losses	$ 84
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, 2022 USD ($) reported_claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,312
Liabilities for loss and ALAE, net of reinsurance	7,967
Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	2,332
Cumulative paid losses and ALAE, net of reinsurance	1,581
All outstanding liabilities before, net of reinsurance	40
Liabilities for loss and ALAE, net of reinsurance	791
2018 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	444	$ 440	$ 442	$ 442	$ 453
Total of incurred but not reported liabilities plus expected development on reported losses	$ 9
Cumulative number of reported claims | reported_claim	49
Cumulative paid losses and ALAE, net of reinsurance	$ 411	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,	469	453	451	452
Total of incurred but not reported liabilities plus expected development on reported losses	$ 18
Cumulative number of reported claims | reported_claim	46
Cumulative paid losses and ALAE, net of reinsurance	$ 395	333	268	$ 183
2020 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	384	391	424
Total of incurred but not reported liabilities plus expected development on reported losses	$ 37
Cumulative number of reported claims | reported_claim	36
Cumulative paid losses and ALAE, net of reinsurance	$ 280	214	$ 154
2021 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	477	470
Total of incurred but not reported liabilities plus expected development on reported losses	$ 91
Cumulative number of reported claims | reported_claim	39
Cumulative paid losses and ALAE, net of reinsurance	$ 278	$ 179
2022 | Commercial Auto Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	558
Total of incurred but not reported liabilities plus expected development on reported losses	$ 181
Cumulative number of reported claims | reported_claim	37
Cumulative paid losses and ALAE, net of reinsurance	$ 217

Claims Development - Commerci_3

Claims Development - Commercial Property (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2022 USD ($) reported_claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,312
Liabilities for loss and ALAE, net of reinsurance	7,967
Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	3,312
Cumulative paid losses and ALAE, net of reinsurance	2,774
All outstanding liabilities before, net of reinsurance	15
Liabilities for loss and ALAE, net of reinsurance	553
2018 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	596	$ 597	$ 590	$ 603	$ 630
Total of incurred but not reported liabilities plus expected development on reported losses	$ 4
Cumulative number of reported claims | reported_claim	18
Cumulative paid losses and ALAE, net of reinsurance	$ 592	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,	598	600	606	621
Total of incurred but not reported liabilities plus expected development on reported losses	$ 6
Cumulative number of reported claims | reported_claim	17
Cumulative paid losses and ALAE, net of reinsurance	$ 590	579	561	$ 413
2020 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	719	742	855
Total of incurred but not reported liabilities plus expected development on reported losses	$ 29
Cumulative number of reported claims | reported_claim	24
Cumulative paid losses and ALAE, net of reinsurance	$ 672	637	$ 489
2021 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	586	607
Total of incurred but not reported liabilities plus expected development on reported losses	$ 15
Cumulative number of reported claims | reported_claim	14
Cumulative paid losses and ALAE, net of reinsurance	$ 527	$ 326
2022 | Commercial Property Line | Commercial Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	813
Total of incurred but not reported liabilities plus expected development on reported losses	$ 195
Cumulative number of reported claims | reported_claim	13
Cumulative paid losses and ALAE, net of reinsurance	$ 393

Claims Development - Personal A

Claims Development - Personal Auto (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2022 USD ($) reported_claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,312
Liabilities for loss and ALAE, net of reinsurance	7,967
Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	1,831
Cumulative paid losses and ALAE, net of reinsurance	1,557
All outstanding liabilities before, net of reinsurance	13
Liabilities for loss and ALAE, net of reinsurance	287
2018 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	401	$ 398	$ 395	$ 398	$ 424
Total of incurred but not reported liabilities plus expected development on reported losses	$ 3
Cumulative number of reported claims | reported_claim	111
Cumulative paid losses and ALAE, net of reinsurance	$ 391	379	358	327	$ 262
2019 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	383	380	383	399
Total of incurred but not reported liabilities plus expected development on reported losses	$ 4
Cumulative number of reported claims | reported_claim	102
Cumulative paid losses and ALAE, net of reinsurance	$ 363	346	314	$ 250
2020 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	277	281	305
Total of incurred but not reported liabilities plus expected development on reported losses	$ 7
Cumulative number of reported claims | reported_claim	71
Cumulative paid losses and ALAE, net of reinsurance	$ 248	225	$ 186
2021 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	343	350
Total of incurred but not reported liabilities plus expected development on reported losses	$ 14
Cumulative number of reported claims | reported_claim	80
Cumulative paid losses and ALAE, net of reinsurance	$ 278	$ 219
2022 | Personal Auto | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	427
Total of incurred but not reported liabilities plus expected development on reported losses	$ 58
Cumulative number of reported claims | reported_claim	80
Cumulative paid losses and ALAE, net of reinsurance	$ 277

Claims Development - Homeowner

Claims Development - Homeowner (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2022 USD ($) reported_claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,312
Liabilities for loss and ALAE, net of reinsurance	7,967
Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	2,275
Cumulative paid losses and ALAE, net of reinsurance	1,952
All outstanding liabilities before, net of reinsurance	6
Liabilities for loss and ALAE, net of reinsurance	329
2018 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	386	$ 388	$ 387	$ 386	$ 370
Total of incurred but not reported liabilities plus expected development on reported losses	$ 1
Cumulative number of reported claims | reported_claim	24
Cumulative paid losses and ALAE, net of reinsurance	$ 384	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,	418	422	421	432
Total of incurred but not reported liabilities plus expected development on reported losses	$ 2
Cumulative number of reported claims | reported_claim	22
Cumulative paid losses and ALAE, net of reinsurance	$ 411	407	391	$ 303
2020 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	470	475	497
Total of incurred but not reported liabilities plus expected development on reported losses	$ 7
Cumulative number of reported claims | reported_claim	23
Cumulative paid losses and ALAE, net of reinsurance	$ 453	434	$ 326
2021 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	449	495
Total of incurred but not reported liabilities plus expected development on reported losses	$ 15
Cumulative number of reported claims | reported_claim	19
Cumulative paid losses and ALAE, net of reinsurance	$ 405	$ 285
2022 | Home Owner Line | Personal Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	552
Total of incurred but not reported liabilities plus expected development on reported losses	$ 120
Cumulative number of reported claims | reported_claim	17
Cumulative paid losses and ALAE, net of reinsurance	$ 299

Claims Development - Excess and

Claims Development - Excess and Surplus Lines (Details) reported_claim in Thousands, $ in Millions	Dec. 31, 2022 USD ($) reported_claim	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	$ 3,312
Liabilities for loss and ALAE, net of reinsurance	7,967
Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	1,272
Cumulative paid losses and ALAE, net of reinsurance	587
All outstanding liabilities before, net of reinsurance	2
Liabilities for loss and ALAE, net of reinsurance	687
2013 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	41	$ 40	$ 41	$ 41	$ 41	$ 42	$ 45	$ 54	$ 64	$ 74
Total of incurred but not reported liabilities plus expected development on reported losses	$ 0
Cumulative number of reported claims | reported_claim	2
Cumulative paid losses and ALAE, net of reinsurance	$ 40	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,	56	58	59	59	60	64	75	82	95
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	$ 55	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,	61	65	66	65	67	73	81	96
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	$ 58	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,	88	91	90	82	84	87	93
Total of incurred but not reported liabilities plus expected development on reported losses	$ 2
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 81	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,	91	94	94	95	95	104
Total of incurred but not reported liabilities plus expected development on reported losses	$ 5
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 77	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,	107	108	110	109	116
Total of incurred but not reported liabilities plus expected development on reported losses	$ 14
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 75	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,	139	141	135	137
Total of incurred but not reported liabilities plus expected development on reported losses	$ 28
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 79	55	34	$ 13
2020 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	160	172	172
Total of incurred but not reported liabilities plus expected development on reported losses	$ 51
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 56	37	$ 16
2021 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	235	217
Total of incurred but not reported liabilities plus expected development on reported losses	$ 98
Cumulative number of reported claims | reported_claim	3
Cumulative paid losses and ALAE, net of reinsurance	$ 45	$ 17
2022 | Excess and Surplus Lines Insurance
Claims Development
Incurred losses and ALAE, net of reinsurance for the years ended December 31,	294
Total of incurred but not reported liabilities plus expected development on reported losses	$ 198
Cumulative number of reported claims | reported_claim	2
Cumulative paid losses and ALAE, net of reinsurance	$ 21

Average Annual Payout (Details)

Average Annual Payout (Details)	Dec. 31, 2022
Commercial Insurance | Commercial Casualty Line
Short-duration Insurance Contracts, Historical Claims Duration
1	6.90%
2	14%
3	18.90%
4	18.70%
5	13.50%
6	8.40%
7	5.10%
8	3.80%
9	2.70%
10	2.40%
Commercial Insurance | Workers' Compensation Line
Short-duration Insurance Contracts, Historical Claims Duration
1	24.80%
2	25.40%
3	11.20%
4	6.10%
5	3.80%
6	2.20%
7	1.30%
8	1%
9	1.30%
10	0.90%
Commercial Insurance | Commercial Auto Line
Short-duration Insurance Contracts, Historical Claims Duration
1	39.40%
2	18.30%
3	15.60%
4	11.10%
5	7.80%
Commercial Insurance | Commercial Property Line
Short-duration Insurance Contracts, Historical Claims Duration
1	61.10%
2	27.20%
3	3.60%
4	2%
5	0.40%
Personal Insurance | Personal Auto
Short-duration Insurance Contracts, Historical Claims Duration
1	65.20%
2	16.10%
3	8.20%
4	4.90%
5	2.80%
Personal Insurance | Home Owner Line
Short-duration Insurance Contracts, Historical Claims Duration
1	65.80%
2	24.20%
3	3.50%
4	0.90%
5	0.70%
Excess and Surplus Lines Insurance
Short-duration Insurance Contracts, Historical Claims Duration
1	11.30%
2	13.70%
3	18.10%
4	16.10%
5	12.70%
6	9.10%
7	5.20%
8	3.30%
9	1.70%
10	2.80%

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, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	$ 3,059	$ 3,014
Life Policy Reserves
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	1,505	1,428
Life Policy Reserves | Ordinary/Traditional Life
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	1,451	1,376
Life Policy Reserves | Other Life Policy Reserves
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	54	52
Investment contract reserves
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	1,554	1,586
Investment contract reserves | Deferred Annuity
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	735	762
Investment contract reserves | Universal Life
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	682	679
Investment contract reserves | Structured Settlement Annuity
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	129	136
Investment contract reserves | Other Investment Contract Reserves
Liability for Future Policy Benefit, by Product Segment
Life policy and investment contract reserves	$ 8	$ 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, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs [Roll Forward]
Deferred policy acquisition costs asset at January 1	$ 905	$ 805	$ 774
Capitalized deferred policy acquisition costs	1,443	1,270	1,145
Amortized deferred policy acquisition costs	(1,347)	(1,197)	(1,106)
Shadow deferred policy acquisition costs	13	27	(8)
Deferred policy acquisition costs asset at December 31	1,014	905	805
Life Insurance Segment
Deferred Costs [Roll Forward]
Deferred policy acquisition costs asset at January 1	303	263	262
Capitalized deferred policy acquisition costs	60	59	58
Amortized deferred policy acquisition costs	(44)	(46)	(49)
Shadow deferred policy acquisition costs	13	27	(8)
Deferred policy acquisition costs asset at December 31	332	303	263
Consolidated Property And Casualty Insurance Entity
Deferred Costs [Roll Forward]
Deferred policy acquisition costs asset at January 1	602	542	512
Capitalized deferred policy acquisition costs	1,383	1,211	1,087
Amortized deferred policy acquisition costs	(1,303)	(1,151)	(1,057)
Deferred policy acquisition costs asset at December 31	$ 682	$ 602	$ 542

Note Payable (Narrative) (Detai

Note Payable (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Disclosure
Number of lines of credit	1
Aggregate borrowing capacity	$ 300
Accordian feature available amount	300
Note payable	$ 50	$ 54
Ratio of debt-to-total capital maximum	0.35
Minimum [Member]
Debt Disclosure
Line of credit, interest rate	0.99%	0.97%
Maximum
Debt Disclosure
Line of credit, interest rate	5%	1.03%

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, 2022	Dec. 31, 2021
Debt Instrument
Book value	$ 789	$ 789
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	$ 371
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, 2022 USD ($)
Long-Term Debt and Lease Obligation [Abstract]
Finance Lease 2023	$ 16
Finance Lease 2024	12
Finance Lease 2025	8
Finance Lease 2026	6
Finance Lease 2027	3
Finance Lease 2028 and thereafter	2
Operating Leases 2023	2
Operating Leases 2024	2
Operating Leases 2025	2
Operating Leases 2026	1
Operating Leases 2027	1
Operating Leases 2028 and thereafter	1
Total Finance and Operating Lease 2023	18
Total Finance and Operating Lease 2024	14
Total Finance and Operating Lease 2025	10
Total Finance and Operating Lease 2026	7
Total Finance and Operating Lease 2027	4
Total Finance and Operating Lease 2028 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, 2022	Dec. 31, 2021	Dec. 31, 2020
Long-Term Debt and Lease Obligation [Abstract]
Finance Lease, Right-of-Use Asset, Amortization	$ 14	$ 15	$ 15
Operating Lease, Expense	5	4	4
Total Finance and Operating Lease Cost	19	19	19
Finance Lease, Principal Payments	$ 15	$ 15	$ 15
Finance Lease, Weighted Average Discount Rate, Percent	3.20%	2.46%	2.62%
Finance Lease, Weighted Average Remaining Lease Term	3 years 5 months 26 days	3 years 5 months 12 days	3 years 8 months 1 day
Operating Lease, Payments	$ 4	$ 4	$ 8
Operating Lease, Weighted Average Discount Rate, Percent	3.44%	2.86%	3.65%
Operating Lease, Weighted Average Remaining Lease Term	4 years 6 months 10 days	4 years 4 months 13 days	4 years 10 months 2 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, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Total lease liability	$ 52	$ 54
Lessee, Operating Lease, Term of Contract	5 years
Total lease liability	$ 52	$ 54
Interest Costs Incurred	$ 4
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Finance Lease, Term of Contract	6 years
Minimum [Member]
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Declared cash dividends, per share	$ 2.76	$ 2.52	$ 2.40
Dividend payment without prior regulatory approval, maximum percent of policyholder surplus	10%
Dividend payment without prior regulatory approval, percent of statutory net income for the prior calendar year	100%
Dividends might be paid during next year	$ 651
The Cincinnati Insurance Company
Cash Dividends Paid to Parent	729	$ 583	$ 550
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income, Before Tax
Pension obligations OCI	$ 9	$ 68	$ (32)
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	648
AOCI, balance at the end of the period	(636)	648
Accumulated Net Unrealized Investment Gain (Loss)
Accumulated Other Comprehensive Income, Before Tax
AOCI, balance at the beginning of the period	792	1,026	590
OCI before investment gains and losses, net, recognized in net income	(1,642)	(204)	371
Investment gains and losses, net, recognized in net income	3	(30)	65
OCI	(1,639)	(234)	436
AOCI, balance at the end of the period	(847)	792	1,026
Accumulated Other Comprehensive Income, Income Tax
AOCI, balance at the beginning of the period	165	215	123
OCI before investment gains and losses, net, recognized in net income	(347)	(44)	78
Investment gains and losses, net, recognized in net income	0	(6)	14
OCI	(347)	(50)	92
AOCI, balance at the end of the period	(182)	165	215
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	627	811	467
OCI before investment gains and losses, net, recognized in net income	(1,295)	(160)	293
Investment gains and losses, net, recognized in net income	3	(24)	51
OCI	(1,292)	(184)	344
AOCI, balance at the end of the period	(665)	627	811
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income, Before Tax
AOCI, balance at the beginning of the period	27	(41)	(9)
OCI before investment gains and losses, net, recognized in net income	12	62	(35)
Investment gains and losses, net, recognized in net income	(3)	6	3
OCI	9	68	(32)
AOCI, balance at the end of the period	36	27	(41)
Accumulated Other Comprehensive Income, Income Tax
AOCI, balance at the beginning of the period	7	(7)	0
OCI before investment gains and losses, net, recognized in net income	2	12	(7)
Investment gains and losses, net, recognized in net income	0	2	0
OCI	2	14	(7)
AOCI, balance at the end of the period	9	7	(7)
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	20	(34)	(9)
OCI before investment gains and losses, net, recognized in net income	10	50	(28)
Investment gains and losses, net, recognized in net income	(3)	4	3
OCI	7	54	(25)
AOCI, balance at the end of the period	27	20	(34)
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	1	(10)	(13)
OCI before investment gains and losses, net, recognized in net income	1	11	3
Investment gains and losses, net, recognized in net income	0	0	0
OCI	1	11	3
AOCI, balance at the end of the period	2	1	(10)
Accumulated Other Comprehensive Income, Income Tax
AOCI, balance at the beginning of the period	0	(2)	(3)
OCI before investment gains and losses, net, recognized in net income	0	2	1
Investment gains and losses, net, recognized in net income	0	0	0
OCI	0	2	1
AOCI, balance at the end of the period	0	0	(2)
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	1	(8)	(10)
OCI before investment gains and losses, net, recognized in net income	1	9	2
Investment gains and losses, net, recognized in net income	0	0	0
OCI	1	9	2
AOCI, balance at the end of the period	2	1	(8)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income, Before Tax
AOCI, balance at the beginning of the period	820	975	568
Investments OCI	(1,639)	(234)	436
Pension obligations OCI	9	68	(32)
Life deferred acquisition costs, life policy reserves and other OCI	1	11	3
Total OCI	(1,629)	(155)	407
AOCI, balance at the end of the period	(809)	820	975
Accumulated Other Comprehensive Income, Income Tax
AOCI, balance at the beginning of the period	172	206	120
Investments OCI	(347)	(50)	92
Pension obligations OCI	2	14	(7)
Life deferred acquisition costs, life policy reserves and other OCI	0	2	1
Total OCI	(345)	(34)	86
AOCI, balance at the end of the period	(173)	172	206
Accumulated Other Comprehensive Income, Net of Tax
AOCI, balance at the beginning of the period	648	769	448
Investments OCI	(1,292)	(184)	344
Pension obligations OCI	7	54	(25)
Life deferred acquisition costs, life policy reserves and other OCI	1	9	2
Total OCI	(1,284)	(121)	321
AOCI, balance at the end of the period	$ (636)	$ 648	$ 769

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, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Direct premiums earned	$ 7,050	$ 6,370	$ 5,985
Assumed premiums earned	561	443	285
Ceded premiums earned	(392)	(331)	(290)
Incurred loss and loss expenses	5,012	3,936	4,134
Consolidated Property And Casualty Insurance Entity
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Direct premiums written	7,002	6,229	5,756
Assumed premiums written	619	515	335
Ceded premiums written	(314)	(265)	(227)
Net written premiums	7,307	6,479	5,864
Direct premiums earned	6,677	5,996	5,623
Assumed premiums earned	561	443	285
Ceded premiums earned	(314)	(255)	(217)
Earned premiums	6,924	6,184	5,691
Direct incurred loss and loss expenses	4,495	3,352	3,699
Assumed incurred loss and loss expenses	396	366	184
Ceded incurred loss and loss expenses	(175)	(122)	(46)
Incurred loss and loss expenses	$ 4,716	$ 3,596	$ 3,837

Reinsurance (Earned Life Insura

Reinsurance (Earned Life Insurance Premiums On Ceded Business) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Direct premiums earned	$ 7,050	$ 6,370	$ 5,985
Ceded earned premiums	(392)	(331)	(290)
Insurance losses and contract holders' benefits	5,012	3,936	4,134
Life Insurance Segment
Direct premiums earned	373	374	362
Ceded earned premiums	(78)	(76)	(73)
Net earned premiums	295	298	289
Direct contract holders' benefits incurred	386	423	359
Ceded contract holders' benefits incurred	(90)	(83)	(62)
Insurance losses and contract holders' benefits	$ 296	$ 340	$ 297

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosures
Income tax refund received	$ 0	$ 0	$ 0
Net deferred tax assets, valuation allowance	31	53
Release of unrecognized tax benefits during the year	34	0	0
United States
Income Tax Disclosures
Operating Loss Carryforwards	0	0
Cincinnati Global
Income Tax Disclosures
Net deferred tax assets	31
Net deferred tax assets, valuation allowance	31	53	56	$ 41
Decrease of deferred tax asset valuation allowance	(22)	(3)	$ 15
Cincinnati Global
Income Tax Disclosures
Decrease of deferred tax assets	22
Decrease of deferred tax asset valuation allowance	22
Cincinnati Global | United States
Income Tax Disclosures
Operating Loss Carryforwards	5	8
Cincinnati Global | United Kingdom
Income Tax Disclosures
Operating Loss Carryforwards	$ 109	$ 130

Income Taxes (Components Of Def

Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Unearned premiums	$ 148	$ 131
Loss and loss expense reserves	106	92
Net operating loss on international earnings	28	34
Deferred international earnings	16	31
Other	55	50
Deferred tax assets before valuation allowance	353	338
Valuation allowance for international operations	31	53
Deferred tax assets net of valuation allowance	322	285
Deferred tax liabilities:
Investment gains and other, net	992	1,684
Deferred acquisition costs	171	155
Life policy reserves	112	116
Investments	31	38
Other	61	36
Total gross deferred tax liabilities	1,367	2,029
Net deferred income tax liability	$ 1,045	$ 1,744

Income Taxes Schedule of Income

Income Taxes Schedule of Income before Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
United States income before tax	$ (718)	$ 3,644	$ 1,521
International income before income taxes	25	26	(22)
Total income before income taxes	$ (693)	$ 3,670	$ 1,499

Income Taxes The Provision of I

Income Taxes The Provision of Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current federal tax	$ 148	$ 248	$ 147
Current international tax	0	(1)	0
Total current tax	148	247	147
Deferred federal tax	(355)	477	136
Deferred international tax	0	0	0
Deferred income tax expense	(355)	477	136
Total provision for income taxes	$ (207)	$ 724	$ 283

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (decrease) resulting from:
Tax at statutory rate:	$ (146)	$ 771	$ 315
Tax-exempt income from municipal bonds	(20)	(20)	(20)
Dividend received exclusion	(21)	(20)	(17)
Effective Income Tax Rate Reconciliation, Tax Accounting Method Changes, Amount	(34)	0	0
Other	14	(7)	5
Total provision (benefit) for income taxes	$ (207)	$ 724	$ 283
Tax at statutory rate:
Tax at statutory rate (percentage):	21%	21%	21%
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent	2.90%	(0.50%)	(1.30%)
Dividend received exclusion (percentage)	3%	(0.50%)	(1.10%)
Effective Income Tax Rate Reconciliation, Tax Accounting Method Changes, Percent	4.90%	0%	0%
Other (percentage)	(1.90%)	(0.30%)	0.30%
Effective tax, percentage	29.90%	19.70%	18.90%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits
Gross unrecognized tax benefits, January 1	$ 0	$ 34	$ 34	$ 34
Gross increase in prior year positions	0	0	0
Gross decrease in prior year positions	(34)	0	0
Gross increase in current year positions	0	0	0
Settlements with tax authorities	0	0	0
Lapse of statute of limitations	0	0	0
Gross unrecognized tax benefits, December 31	$ 0	$ 34	$ 34	$ 34

Income Taxes Reconciliation of

Income Taxes Reconciliation of Cincinnati Global Valuation Allowance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Valuation Allowance
Valuation allowance at January 1	$ 53
Valuation allowance at December 31	31	$ 53
Cincinnati Global
Valuation Allowance
Valuation allowance at January 1	53	56	$ 41
Current year operations	(22)	(3)	15
Valuation allowance at December 31	$ 31	$ 53	$ 56

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net Income (Loss)	$ (486)	$ 2,946	$ 1,216
Denominator:
Basic weighted-average common shares outstanding	158.8	161	161.2
Diluted weighted-average shares	158.8	162.7	162.4
Earnings (loss) per share:
Basic (in usd per share)	$ (3.06)	$ 18.29	$ 7.55
Diluted (in usd per share)	$ (3.06)	$ 18.10	$ 7.49
Number of anti-dilutive share-based awards	2.2	0.8	1.4
Stock Options
Denominator:
Effect of stock-based awards	0	1.1	0.7
Restricted Stock Units (RSUs)
Denominator:
Effect of stock-based awards	0	0.6	0.5

Employee Retirement Benefits (N

Employee Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2008
Defined Benefit Plans and Other Postretirement Benefit Plans
Minimum participant age to elect				40 years
Employer discretionary contribution amount	$ 24	$ 22	$ 22
Requisite service period	3 years
Defined Benefit Plan, Actual Percentage Return On Plan Assets	(8.90%)	24.50%
Pension plan assets at fair value	$ 332	$ 397	357
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans
Matching contribution to defined contribution plan	6%
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Percentage of increase decrease in benefit obligations discount rate	2.37%
Change In Net Benefit Cost Discount Rate Assumption	0.29%
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	$ 8	9
Percentage of increase decrease in benefit obligations discount rate	2.52%
Change In Net Benefit Cost Discount Rate Assumption	0.38%
Expected contribution by employer during 2023	$ 6
Top Hat Savings Plan - Mutual Funds and Common Equities
Defined Benefit Plans and Other Postretirement Benefit Plans
CFC Top Hat Savings Plan	57	64
Top Hat
Defined Benefit Plans and Other Postretirement Benefit Plans
CFC Top Hat Savings Plan	57	64
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	100,610	202,337
Pension plan assets, fair value	$ 10	$ 23
Defined Benefit Plan, Equity Securities, Common Stock, Employer, Related Party | Sale of stock
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension plan assets, shares	101,727
Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	85%
Pension plan assets at fair value	$ 245	332
Equity Securities | Information Technology Sector
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	25%
Equity Securities | Financial Services Sector
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	19%
Equity Securities | Healthcare Sector
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	16%
Equity Securities | Industrial Sector
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	14%
Equity Securities | All Remaining Sectors
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	10%
Fixed Maturities
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension plan assets at fair value	$ 44	49
Fixed Maturities | United States Government
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	11%
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	2%
Pension plan assets at fair value	$ 7	11
Fixed Maturities | States, Municipalities and Political Subdivisions
Defined Benefit Plans and Other Postretirement Benefit Plans
Allocation percentage of investments	2%
Pension plan assets at fair value	$ 6	7
Cash and Cash Equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans
Pension plan assets at fair value	$ 43	$ 16

Employee Retirement Benefits (W

Employee Retirement Benefits (Weighted-Average Assumptions Used) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Plan
Weighted average assumptions used to determine benefit obligations
Benefit obligation discount rate	5.34%	2.97%
Summary of the weighted average assumtions used to determine net periodic benefit cost
Discount rate	2.97%	2.68%	3.40%
Expected return on plan assets	7%	7%	7%
Pension Plan | Minimum [Member]
Weighted average assumptions used to determine benefit obligations
Benefit obligation rate of compensation increase	4.50%	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	4.50%	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	5.42%	2.90%
Summary of the weighted average assumtions used to determine net periodic benefit cost
Discount rate	2.90%	2.52%	3.33%
Supplemental Employee Retirement Plan | Minimum [Member]
Weighted average assumptions used to determine benefit obligations
Benefit obligation rate of compensation increase	4.50%	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	4.50%	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, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in projected benefit obligation:
Benefit obligation, January 1	$ 362	$ 387
Service cost	9	10	$ 9
Interest cost	10	10	12
Actuarial gain	(70)	(5)
Benefits paid	(29)	(41)
Other	0	1
Projected benefit obligation, December 31	282	362	387
Change in plan assets:
Fair value of plan assets, January 1	397	357
Actual return on plan assets	(36)	78
Employer contribution	0	3
Benefits paid	(29)	(41)
Fair value of plan assets, December 31	332	397	$ 357
Funded status:
Funded status, December 31	50	35
Accumulated benefit obligation	$ 264	$ 338

Employee Retirement Benefits (R

Employee Retirement Benefits (Reconciliation Of The Funded Status For Qualified Plan And SERP) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Other assets	$ 50	$ 35
Total	50	35
Pension amounts recognized in accumulated other comprehensive income:
Net actuarial gain	36	27
Total	$ 36	$ 27

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Service cost	$ 9	$ 10	$ 9
Interest cost	10	10	12
Expected return on plan assets	(22)	(21)	(21)
Amortization of actuarial loss and prior service cost	0	6	3
Other	(3)	1	3
Net periodic benefit cost	(6)	6	6
Current year actuarial (gain) loss	(12)	(62)	38
Amortization of actuarial loss	3	(7)	(6)
Current year prior service cost	0	1	0
Total recognized in other comprehensive (income) loss	(9)	(68)	32
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$ (15)	$ (62)	$ 38

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	$ 332	$ 397	$ 357
Fixed Maturities
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	44	49
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	13	18
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	6	7
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	6	7
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	7	11
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	7	11
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	245	332
Equity Securities | Level 1
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	245	332
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	289	381
Fixed Maturities And Equity Securities | Level 1
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	276	363
Fixed Maturities And Equity Securities | Level 2
Defined Benefit Plan Fair Value Disclosure
Pension plan assets at fair value	13	18
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, 2022 USD ($)
Retirement Benefits [Abstract]
Expected future benefit payments, 2023	$ 57
Expected future benefit payments, 2024	20
Expected future benefit payments, 2025	23
Expected future benefit payments, 2026	28
Expected future benefit payments, 2027	27
Expected future benefit payments, 2028 - 2032	$ 140

Statutory Accounting Informat_3

Statutory Accounting Information (Schedule Of Statutory Net Income And Statutory Surplus (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
The Cincinnati Insurance Company
Statutory Accounting Practices
Statutory net income	$ 520	$ 929	$ 466
Capital and surplus	6,512	7,247
The Cincinnati Casualty Company
Statutory Accounting Practices
Statutory net income	14	15	14
Capital and surplus	495	500
The Cincinnati Indemnity Company
Statutory Accounting Practices
Statutory net income	4	5	3
Capital and surplus	126	126
The Cincinnati Specialty Underwriters Insurance Company
Statutory Accounting Practices
Statutory net income	61	47	42
Capital and surplus	542	571
The Cincinnati Life Insurance Company
Statutory Accounting Practices
Statutory net income	64	41	$ 27
Capital and surplus	$ 326	$ 270

Transactions With Affliated Par

Transactions With Affliated Parties (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction
Payment for commissions	$ 9	$ 8	$ 7
Earned premiums	7,219	6,482	5,980
Affiliated Parties
Related Party Transaction
Earned premiums	$ 47	$ 47	$ 45

Share-Based Associate Compens_3

Share-Based Associate Compensation Plans (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) Peers peers_exceeded compensation_plans shares	Dec. 31, 2021 USD ($) peers_exceeded Peers shares	Dec. 31, 2020 USD ($) peers_exceeded Peers shares
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
Share based compensation	$ 29	$ 26	$ 25
Tax benefit from compensation expense	7	6	6
Options exercised, intrinsic value	21	24	15
Options vested, intrinsic value	2	15	7
Unrecognized compensation costs related to non-vested awards	$ 39
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	$ 10	13	7
Shares of common stock granted in period (in shares) | shares	469,000
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	$ 10	$ 13	$ 7
Shares repurchased | shares	80,538	77,947	50,751
Shares repurchased, value	$ 10	$ 8	$ 5
Weighted average remaining contractual term	8 years 5 months 23 days
Shares authorized to be granted under the shareholder-approved plans | shares	17,300,000
Shares available for future issuance under the plans | shares	4,600,000
Stock Options | Directors
Share-based Compensation Arrangement by Share-based Payment Award
Shares of common stock granted in period (in shares) | shares	11,563
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	2.19%	2.62%	2.15%
Weighted-average expected term	2 years 10 months 9 days	2 years 10 months 6 days	2 years 10 months 9 days
Risk-free rates	1.64%	0.20%	1.30%
Performance Shares | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Number of peers exceeded | peers_exceeded	1	6	8
Number of peers in peer group | Peers	8	9	9
Shares, Issued | shares	52,335	113,648
Awards vesting period	3 years	3 years
Risk-free rates, minimum	0%	0%	0%
Risk-free rates, maximum	200%	200%	200%
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	$ 6	$ 11	$ 5
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	$ 32	$ 26	$ 30

Share-Based Associate Compens_4

Share-Based Associate Compensation Plans (Assumptions Used In Grants Issued) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock Options
Weighted-average fair value of options granted during the period	$ 30.34	$ 19.64	$ 15.45
Stock Options | Minimum [Member]
Weighted-average expected term	7 years	7 years	7 years
Expected volatility	26.34%	25.56%	16.89%
Dividend yield	2.23%	2.62%	2.15%
Risk-free rates	1.90%	0.97%	1.40%
Stock Options | Maximum
Weighted-average expected term	9 years	9 years	8 years
Expected volatility	28.87%	27.81%	17.13%
Dividend yield	2.23%	2.62%	2.15%
Risk-free rates	1.92%	1.26%	1.41%
Performance Based Shares
Weighted-average expected term	2 years 10 months 9 days	2 years 10 months 6 days	2 years 10 months 9 days
Dividend yield	2.19%	2.62%	2.15%
Risk-free rates	1.64%	0.20%	1.30%
Performance Based Shares | Minimum [Member]
Expected volatility	30.09%	29.50%	15.88%
Performance Based Shares | Maximum
Expected volatility	49.28%	47.26%	25.13%

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, 2022 USD ($) $ / shares shares
Shares
Outstanding at beginning of year (in shares) | shares	3,552
Granted (in shares) | shares	469
Exercised (in shares) | shares	(330)
Forfeited or expired (in shares) | shares	(83)
Outstanding at end of year (in shares) | shares	3,608
Options exercisable at end of period (in shares) | shares	2,763
Weighted-average exercise price
Outstanding at beginning of year (in dollars per share) | $ / shares	$ 78.52
Granted (in dollars per share) | $ / shares	123.94
Exercised (in dollars per share) | $ / shares	59.55
Forfeited or expired (in dollars per share) | $ / shares	75.95
Outstanding at end of year (in dollars per share) | $ / shares	86.21
Options exercisable at end of period (in dollars per share) | $ / shares	$ 78.04
Aggregate intrinsic value
Outstanding at end of year | $	$ 73
Options exercisable at end of period | $	$ 71
Weighted-average remaining contractual life
Outstanding option shares at December 31, 2022	5 years 8 months 26 days
Options exercisable at end of period	4 years 10 months 24 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, 2022 $ / shares shares
Service Based Shares
Nonvested shares
Beginning balance (in shares) | shares	634
Granted (in shares) | shares	176
Vested (in shares) | shares	(256)
Forfeited or canceled (in shares) | shares	(31)
Ending balance (in shares) | shares	523
Weighted-average grant-date fair value
Beginning balance (in dollars per share) | $ / shares	$ 90.01
Granted (in dollars per share) | $ / shares	116.22
Vested (in dollars per share) | $ / shares	81.73
Forfeited or canceled (in dollars per share) | $ / shares	101.24
Ending balance (in dollars per share) | $ / shares	$ 102.26
Performance Based Shares
Nonvested shares
Beginning balance (in shares) | shares	139
Granted (in shares) | shares	68
Vested (in shares) | shares	(52)
Forfeited or canceled (in shares) | shares	0
Ending balance (in shares) | shares	155
Weighted-average grant-date fair value
Beginning balance (in dollars per share) | $ / shares	$ 103.16
Granted (in dollars per share) | $ / shares	140.50
Vested (in dollars per share) | $ / shares	87.97
Forfeited or canceled (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 124.69

Segment Information (Details)

Segment Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) industry segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information
Earned premiums	$ 7,219	$ 6,482	$ 5,980
Fee revenues	14	15	11
Other	10	10	10
Investment income, net of expenses	781	714	670
Total revenues	6,557	9,630	7,536
Total income before income taxes	(693)	3,670	1,499
Total assets	$ 29,736	31,387
Number of Industries Operated In | industry	2
Number of Insurance Segments | segment	4
Consolidated Property And Casualty Insurance Entity
Segment Reporting Information
Total assets	$ 5,178	4,421
Life Insurance Segment
Segment Reporting Information
Earned premiums	295	298	289
Total assets	1,522	1,590
Investments Segment
Segment Reporting Information
Total assets	22,133	24,481
Corporate and Other
Segment Reporting Information
Total assets	903	895
Operating Segments | Commercial Insurance
Segment Reporting Information
Earned premiums	4,024	3,674	3,476
Fee revenues	4	4	3
Total revenues	4,028	3,678	3,479
Income (loss) before income taxes	38	598	64
Operating Segments | Commercial Insurance | Commercial Casualty Line
Segment Reporting Information
Earned premiums	1,416	1,270	1,165
Operating Segments | Commercial Insurance | Commercial Property Segment [Member]
Segment Reporting Information
Earned premiums	1,136	1,043	1,010
Operating Segments | Commercial Insurance | Commercial Auto Line
Segment Reporting Information
Earned premiums	842	794	755
Operating Segments | Commercial Insurance | Workers' Compensation Line
Segment Reporting Information
Earned premiums	284	268	271
Operating Segments | Commercial Insurance | Other Commercial Lines
Segment Reporting Information
Earned premiums	346	299	275
Operating Segments | Personal Insurance
Segment Reporting Information
Earned premiums	1,689	1,542	1,463
Fee revenues	4	4	4
Total revenues	1,693	1,546	1,467
Income (loss) before income taxes	18	97	47
Operating Segments | Personal Insurance | Personal Auto
Segment Reporting Information
Earned premiums	626	609	615
Operating Segments | Personal Insurance | Home Owner Line
Segment Reporting Information
Earned premiums	829	726	658
Operating Segments | Personal Insurance | Other Personal Lines
Segment Reporting Information
Earned premiums	234	207	190
Operating Segments | Excess and Surplus Lines Insurance
Segment Reporting Information
Earned premiums	485	398	325
Fee revenues	2	2	2
Total revenues	487	400	327
Income (loss) before income taxes	48	44	34
Operating Segments | Life Insurance Segment
Segment Reporting Information
Earned premiums	295	298	289
Fee revenues	4	5	2
Total revenues	299	303	291
Income (loss) before income taxes	28	(16)	11
Operating Segments | Investments Segment
Segment Reporting Information
Investment income, net of expenses	781	714	670
Investment gains and losses, net	(1,467)	2,409	865
Total revenues	(686)	3,123	1,535
Income (loss) before income taxes	(795)	3,018	1,433
Corporate, Non-Segment
Segment Reporting Information
Total revenues	736	580	437
Corporate, Non-Segment | Reinsurance assumed and other non segment
Segment Reporting Information
Earned premiums	726	570	427
Corporate, Non-Segment | Corporate and Other
Segment Reporting Information
Other	10	10	10
Income (loss) before income taxes	$ (30)	$ (71)	$ (90)

Summary of Investments Other _2

Summary of Investments Other Than Investments In Related Parties (Details) $ in Millions	Dec. 31, 2022 USD ($)
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	$ 17,725
Fair value	0
Balance sheet	22,425
Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	12,979
Fair value	12,132
Balance sheet	12,132
Equity Securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	4,294
Fair value	9,841
Balance sheet	9,841
Other than Securities Investment
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	452
Fair value	0
Balance sheet	452
States, Municipalities and Political Subdivisions | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	4,901
Fair value	4,622
Balance sheet	4,622
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	62
Fair value	52
Balance sheet	52
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	3,401
Fair value	3,271
Balance sheet	3,271
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	243
Fair value	230
Balance sheet	230
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	48
Fair value	46
Balance sheet	46
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	459
Fair value	383
Balance sheet	383
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	688
Fair value	640
Balance sheet	640
United States Government | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	196
Fair value	191
Balance sheet	191
United States Government | Fixed Maturities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	139
Fair value	135
Balance sheet	135
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	55
Fair value	54
Balance sheet	54
Foreign Government | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	34
Fair value	33
Balance sheet	33
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	24
Fair value	23
Balance sheet	23
Government-Sponsored Enterprises | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	186
Fair value	183
Balance sheet	183
Government-Sponsored Enterprises | Fixed Maturities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	15
Fair value	15
Balance sheet	15
Government-Sponsored Enterprises | Fixed Maturities | The Cincinnati Casualty Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	5
Fair value	5
Balance sheet	5
Government-Sponsored Enterprises | Fixed Maturities | The Cincinnati Indemnity Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	2
Fair value	2
Balance sheet	2
Government-Sponsored Enterprises | Fixed Maturities | The Cincinnati Life Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	145
Fair value	142
Balance sheet	142
Government-Sponsored Enterprises | Fixed Maturities | The Cincinnati Specialty Underwriters Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	10
Fair value	10
Balance sheet	10
Government-Sponsored Enterprises | Fixed Maturities | Cincinnati Global
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	9
Fair value	9
Balance sheet	9
All Other Corporate Bonds | Fixed Maturities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	7,662
Fair value	7,103
Balance sheet	7,103
All Other Corporate Bonds | Fixed Maturities | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	29
Fair value	26
Balance sheet	26
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	3,794
Fair value	3,527
Balance sheet	3,527
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	96
Fair value	85
Balance sheet	85
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	31
Balance sheet	31
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	3,283
Fair value	3,045
Balance sheet	3,045
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	323
Fair value	287
Balance sheet	287
All Other Corporate Bonds | Fixed Maturities | Cincinnati Global
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	104
Fair value	102
Balance sheet	102
Common Stock | Equity Securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	3,851
Fair value	9,454
Balance sheet	9,454
Common Stock | Equity Securities | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	1,730
Fair value	3,974
Balance sheet	3,974
Common Stock | Equity Securities | The Cincinnati Insurance Company
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	1,925
Fair value	5,013
Balance sheet	5,013
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	162
Balance sheet	162
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	40
Balance sheet	40
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	102
Fair value	238
Balance sheet	238
Common Stock | Equity Securities | CSU Producers Resources Inc.
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	17
Fair value	27
Balance sheet	27
Nonredeemable Preferred Stock | Equity Securities
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	443
Fair value	387
Balance sheet	387
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	426
Fair value	372
Balance sheet	372
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	11
Balance sheet	11
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	5
Fair value	0
Balance sheet	5
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	32
Fair value	0
Balance sheet	32
Limited Partnership | Other than Securities Investment | Cincinnati Financial Corporation
Summary Of Investments Other Than Investments In Related Parties Reportable Data
Cost or amortized cost	44
Fair value	0
Balance sheet	44
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	288
Balance sheet	288
Limited Partnership | 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
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	38
Balance sheet	38
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, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments
Fair value of fixed maturities	$ 12,132	$ 13,022
Fair value of equity securities	9,841	11,315
Other invested assets	452	329
Total investments	22,425	24,666
Investment income receivable	160	144
Land, building and equipment, net, for company use (accumulated depreciation: 2022—$156; 2021—$147)	202	205
Other assets	646	570
Total assets	29,736	31,387
Liabilities
Deferred federal income tax	1,367	2,029
Long-term debt	789	789
Other liabilities	1,229	1,092
Total liabilities	19,205	18,282
Shareholders' Equity
Common stock	397	397
Paid-in capital	1,392	1,356
Retained earnings	11,702	12,625
Accumulated other comprehensive income	(636)	648
Treasury stock at cost	(2,324)	(1,921)
Total shareholders' equity	10,531	13,105	$ 10,789
Total liabilities and shareholders' equity	29,736	31,387
Cincinnati Financial Corporation
Investments
Fair value of fixed maturities	78	64
Fair value of equity securities	3,978	4,778
Other invested assets	53	46
Total investments	4,109	4,888
Cash and cash equivalents	121	211	$ 16	$ 197
Equity in net assets of subsidiaries	7,396	9,292
Investment income receivable	11	9
Land, building and equipment, net, for company use (accumulated depreciation: 2022—$156; 2021—$147)	136	140
Income tax receivable	5	0
Other assets	116	108
Due from subsidiaries	102	106
Total assets	11,996	14,754
Liabilities
Dividends declared but unpaid	108	101
Deferred federal income tax	480	664
Long-term debt	789	789
Other liabilities	88	95
Total liabilities	1,465	1,649
Shareholders' Equity
Common stock	397	397
Paid-in capital	1,392	1,356
Retained earnings	11,702	12,625
Accumulated other comprehensive income	(636)	648
Treasury stock at cost	(2,324)	(1,921)
Total shareholders' equity	10,531	13,105
Total liabilities and shareholders' equity	$ 11,996	$ 14,754

Condensed Financial Statement_3

Condensed Financial Statements Of Parent Company Condensed Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions
Amortized cost of fixed maturities	$ 12,979	$ 12,230
Equity securities, cost	4,294	4,121
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	322	303
Cincinnati Financial Corporation
Condensed Financial Statements, Captions
Amortized cost of fixed maturities	91	64
Equity securities, cost	1,734	1,660
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 156	$ 147

Condensed Financial Statement_4

Condensed Financial Statements Of Parent Company Condensed Statements Of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Investment income, net of expenses	$ 781	$ 714	$ 670
Investment gains and losses, net	(1,467)	2,409	865
Other revenues	10	10	10
Total revenues	6,557	9,630	7,536
Expenses
Interest expense	53	53	54
Other expenses	23	20	20
Total expenses	7,250	5,960	6,037
Provision (Benefit) for Income Taxes	(207)	724	283
Net Income (Loss)	(486)	2,946	1,216
Amortization of pension actuarial gains and losses and prior service costs	7	54	(25)
Other comprehensive income (loss)	(1,284)	(121)	321
Comprehensive Income (Loss)	(1,770)	2,825	1,537
Cincinnati Financial Corporation
Revenues
Investment income, net of expenses	101	91	81
Investment gains and losses, net	(790)	1,058	556
Other revenues	15	15	15
Total revenues	(674)	1,164	652
Expenses
Interest expense	53	53	54
Other expenses	33	32	34
Total expenses	86	85	88
Income (Loss) Before Income Taxes and Earnings of Subsidiaries	(760)	1,079	564
Provision (Benefit) for Income Taxes	(161)	217	111
Net Income (Loss) Before Earnings of Subsidiaries	(599)	862	453
Increase in equity of subsidiaries	113	2,084	763
Net Income (Loss)	(486)	2,946	1,216
Change in unrealized gain (loss) on securities	(10)	1	0
Amortization of pension actuarial gains and losses and prior service costs	7	54	(25)
Other Comprehensive Income (Loss) Before Other Comprehensive Income (Loss) from Subsidiaries	(3)	55	(25)
Other Comprehensive Income (Loss) of subsidiaries	(1,281)	(176)	346
Other comprehensive income (loss)	(1,284)	(121)	321
Comprehensive Income (Loss)	$ (1,770)	$ 2,825	$ 1,537

Condensed Financial Statement_5

Condensed Financial Statements Of Parent Company Condensed Statements Of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows From Operating Activities
Net Income (Loss)	$ (486)	$ 2,946	$ 1,216
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other	127	118	109
Investment gains and losses, net	1,493	(2,353)	(851)
Changes in:
Current income tax receivable/payable	(40)	(25)	44
Other assets	28	(11)	(26)
Net cash provided by operating activities	2,052	1,981	1,491
Cash Flows From Investing Activities
Sale, call or maturity of fixed maturities	1,113	1,461	1,091
Sale of equity securities	430	136	515
Purchase of fixed maturities	(1,901)	(2,388)	(1,382)
Purchase of equity securities	(466)	(313)	(699)
Investment in buildings and equipment	(15)	(15)	(20)
Change in other invested assets, net	(101)	64	(50)
Net cash (used in) received from investing activities	(933)	(1,057)	(560)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders	(423)	(395)	(375)
Shares acquired - share repurchase authorization	(410)	(144)	(261)
Proceeds from stock options exercised	10	13	7
Other	(93)	(98)	(110)
Net cash used in financing activities	(994)	(685)	(798)
Net change in cash and cash equivalents	125	239	133
Cincinnati Financial Corporation
Cash Flows From Operating Activities
Net Income (Loss)	(486)	2,946	1,216
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other	9	10	11
Investment gains and losses, net	792	(1,034)	(552)
Dividends from subsidiaries	729	598	550
Changes in:
Increase in equity of subsidiaries	(113)	(2,084)	(763)
Current federal income taxes	(6)	6	(3)
Current income tax receivable/payable	(183)	220	91
Other assets	(7)	5	0
Other liabilities	1	0	1
Intercompany receivable for operations	28	5	34
Net cash provided by operating activities	764	672	585
Cash Flows From Investing Activities
Sale, call or maturity of fixed maturities	1	22	1
Sale of equity securities	192	25	307
Purchase of fixed maturities	(30)	(19)	(23)
Purchase of equity securities	(187)	(82)	(372)
Investment in buildings and equipment	(4)	(6)	(11)
Change in other invested assets, net	(4)	108	(42)
Net cash (used in) received from investing activities	(32)	48	(140)
Cash Flows From Financing Activities
Payment of cash dividends to shareholders	(423)	(395)	(375)
Shares acquired - share repurchase authorization	(410)	(144)	(261)
Proceeds from stock options exercised	10	13	7
Other	1	1	3
Net cash used in financing activities	(822)	(525)	(626)
Net change in cash and cash equivalents	(90)	195	(181)
Cash and cash equivalents at beginning of year	211	16	197
Cash and cash equivalents at end of year	$ 121	$ 211	$ 16

Supplementary Insurance Infor_2

Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	$ 1,014	$ 905	$ 805
Gross future policy benefits, losses, claims and expense losses	11,418	10,266	9,615
Gross unearned premium	3,689	3,271	2,960
Other policy claims and benefits payable	41	53	46
Earned premiums	7,219	6,482	5,980
Investment income, net of expenses	680	623	589
Benefits, claims losses and settlement expense	5,012	3,936	4,134
Amortization of deferred policy acquisition costs	1,347	1,197	1,106
Underwriting, acquisition and insurance expenses	815	754	723
Net written premiums	7,309	6,481	5,866
Commercial Insurance
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	372	345	317
Gross future policy benefits, losses, claims and expense losses	5,568	5,007	4,881
Gross unearned premium	2,021	1,857	1,714
Earned premiums	4,024	3,674	3,476
Benefits, claims losses and settlement expense	2,761	1,940	2,336
Amortization of deferred policy acquisition costs	769	703	664
Underwriting, acquisition and insurance expenses	460	437	415
Net written premiums	4,159	3,811	3,534
Personal Insurance
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	168	145	136
Gross future policy benefits, losses, claims and expense losses	916	814	739
Gross unearned premium	994	850	797
Earned premiums	1,689	1,542	1,463
Benefits, claims losses and settlement expense	1,166	992	977
Amortization of deferred policy acquisition costs	311	276	256
Underwriting, acquisition and insurance expenses	198	181	187
Net written premiums	1,831	1,594	1,503
Excess and Surplus Lines Insurance
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	37	33	28
Gross future policy benefits, losses, claims and expense losses	753	577	446
Gross unearned premium	236	207	175
Earned premiums	485	398	325
Benefits, claims losses and settlement expense	315	250	199
Amortization of deferred policy acquisition costs	79	63	51
Underwriting, acquisition and insurance expenses	45	43	43
Net written premiums	502	426	348
Reinsurance assumed and other non segment
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	105	79	61
Gross future policy benefits, losses, claims and expense losses	1,099	831	611
Gross unearned premium	437	356	273
Earned premiums	726	570	427
Benefits, claims losses and settlement expense	474	414	325
Amortization of deferred policy acquisition costs	144	109	86
Underwriting, acquisition and insurance expenses	72	55	42
Net written premiums	815	648	479
Property, Liability and Casualty Insurance
Supplementary Insurance Information, by Segment
Deferred policy acquisition costs	682	602	542
Gross future policy benefits, losses, claims and expense losses	8,336	7,229	6,677
Gross unearned premium	3,688	3,270	2,959
Earned premiums	6,924	6,184	5,691
Investment income, net of expenses	509	457	431
Benefits, claims losses and settlement expense	4,716	3,596	3,837
Amortization of deferred policy acquisition costs	1,303	1,151	1,057
Underwriting, acquisition and insurance expenses	775	716	687
Net written premiums	7,307	6,479	5,864
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	332	303	263
Gross future policy benefits, losses, claims and expense losses	3,082	3,037	2,938
Gross unearned premium	1	1	1
Other policy claims and benefits payable	41	53	46
Earned premiums	295	298	289
Investment income, net of expenses	171	166	158
Benefits, claims losses and settlement expense	296	340	297
Amortization of deferred policy acquisition costs	44	46	49
Underwriting, acquisition and insurance expenses	$ 40	$ 38	$ 36

Reinsurance (Details)

Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts, life insurance in force	$ 120,147	$ 116,697	$ 111,756
Gross amounts	7,050	6,370	5,985
Ceded amounts to other companies, life insurance in force	39,665	39,204	38,281
Ceded premiums earned	392	331	290
Assumed amounts from other companies, life insurance in force	0	0	0
Assumed amounts from other companies	561	443	285
Net amounts, life insurance in force	80,482	77,493	73,475
Premiums Earned, Net	$ 7,219	$ 6,482	$ 5,980
Percentage of amounts assumed to net, life insurance in force	0%	0%	0%
Percentage of amounts assumed to net	7.80%	6.80%	4.80%
Commercial Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 4,150	$ 3,777	$ 3,578
Ceded premiums earned	137	115	109
Assumed amounts from other companies	11	12	7
Premiums Earned, Net	$ 4,024	$ 3,674	$ 3,476
Percentage of amounts assumed to net	0.30%	0.30%	0.20%
Personal Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 1,755	$ 1,586	$ 1,503
Ceded premiums earned	67	45	41
Assumed amounts from other companies	1	1	1
Premiums Earned, Net	$ 1,689	$ 1,542	$ 1,463
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	$ 510	$ 417	$ 341
Ceded premiums earned	25	19	16
Assumed amounts from other companies	0	0	0
Premiums Earned, Net	$ 485	$ 398	$ 325
Percentage of amounts assumed to net	0%	0%	0%
Reinsurance assumed and other non segment
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 262	$ 216	$ 201
Ceded premiums earned	85	76	51
Assumed amounts from other companies	549	430	277
Premiums Earned, Net	$ 726	$ 570	$ 427
Percentage of amounts assumed to net	75.60%	75.40%	64.90%
Property, Liability and Casualty Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 6,677	$ 5,996	$ 5,623
Ceded premiums earned	314	255	217
Assumed amounts from other companies	561	443	285
Premiums Earned, Net	$ 6,924	$ 6,184	$ 5,691
Percentage of amounts assumed to net	8.10%	7.20%	5%
Life Insurance Segment
SEC Schedule, 12-17, Insurance Companies, Reinsurance
Gross amounts	$ 373	$ 374	$ 362
Ceded premiums earned	78	76	73
Assumed amounts from other companies	0	0	0
Premiums Earned, Net	$ 295	$ 298	$ 289
Percentage of amounts assumed to net	0%	0%	0%

Valuation And Qualifying Acco_2

Valuation And Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation and allowance roll forward
Beginning balance, January 1	$ 69	$ 78
Ending balance, December 31	48	69	$ 78
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	0	$ 3
Allowance for doubtful receivables
Valuation and allowance roll forward
Beginning balance, January 1	16	22	8
Additions charged to costs and expenses	15	14	19
Deductions	(14)	(20)	(8)
Ending balance, December 31	17	16	22
Deferred tax valuation allowance
Valuation and allowance roll forward
Beginning balance, January 1	53	56	41
Additions charged to costs and expenses	0	0	15
Deductions	(22)	(3)	0
Ending balance, December 31	$ 31	$ 53	$ 56

Supplementary Information Con_2

Supplementary Information Concerning Property Casualty Insurance Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	$ 682	$ 602	$ 542
Reserves for unpaid claims and claim adjustment expenses	8,336	7,229	6,677
Unearned premiums	3,688	3,270	2,959
Earned premiums	6,924	6,184	5,691
Investment income	509	457	431
Loss and loss expenses incurred related to current accident year	4,875	4,024	3,968
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(159)	(428)	(131)
Amortization of deferred policy acquisition cost	1,303	1,151	1,057
Paid loss and loss expenses	3,687	3,094	3,183
Net written premiums	7,307	6,479	5,864
Commercial Insurance
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	372	345	317
Reserves for unpaid claims and claim adjustment expenses	5,568	5,007	4,881
Unearned premiums	2,021	1,857	1,714
Earned premiums	4,024	3,674	3,476
Investment income	0	0	0
Loss and loss expenses incurred related to current accident year	2,837	2,293	2,431
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(76)	(353)	(95)
Amortization of deferred policy acquisition cost	769	703	664
Paid loss and loss expenses	2,211	1,806	1,969
Net written premiums	4,159	3,811	3,534
Personal Insurance
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	168	145	136
Reserves for unpaid claims and claim adjustment expenses	916	814	739
Unearned premiums	994	850	797
Earned premiums	1,689	1,542	1,463
Investment income	0	0	0
Loss and loss expenses incurred related to current accident year	1,227	1,042	995
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(61)	(50)	(18)
Amortization of deferred policy acquisition cost	311	276	256
Paid loss and loss expenses	1,071	914	921
Net written premiums	1,831	1,594	1,503
Excess and Surplus Lines Insurance
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	37	33	28
Reserves for unpaid claims and claim adjustment expenses	753	577	446
Unearned premiums	236	207	175
Earned premiums	485	398	325
Investment income	0	0	0
Loss and loss expenses incurred related to current accident year	324	243	192
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(9)	7	7
Amortization of deferred policy acquisition cost	79	63	51
Paid loss and loss expenses	145	118	112
Net written premiums	502	426	348
Reinsurance assumed and other non segment
Property Casualty Insurance Underwriters
Deferred policy acquisition costs	105	79	61
Reserves for unpaid claims and claim adjustment expenses	1,099	831	611
Unearned premiums	437	356	273
Earned premiums	726	570	427
Investment income	0	0	0
Loss and loss expenses incurred related to current accident year	487	446	350
Prior year claims and claims adjustments expense, (favorable) and unfavorable	(13)	(32)	(25)
Amortization of deferred policy acquisition cost	144	109	86
Paid loss and loss expenses	260	256	181
Net written premiums	$ 815	$ 648	$ 479