CNA Financial (CNA) 10-Q 1 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 28, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-5823
Entity Registrant Name	CNA FINANCIAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-6169860
Entity Address, Address Line One	151 N. Franklin
Entity Address, Postal Zip Code	60606
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
City Area Code	312
Local Phone Number	822-5000
Title of 12(b) Security	Common Stock, Par value $2.50
Trading Symbol	"CNA"
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		271,319,228
Entity Central Index Key	0000021175
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
New York Stock Exchange
Entity Information [Line Items]
Security Exchange Name	NYSE
Chicago Stock Exchange
Entity Information [Line Items]
Security Exchange Name	CHX

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Net earned premiums	$ 2,155	$ 2,035	$ 4,214	$ 3,997
Net investment income	432	591	880	1,095
Net investment (losses) gains	(59)	38	(70)	95
Non-insurance warranty revenue	392	359	774	697
Other revenues	6	6	13	11
Total revenues	2,926	3,029	5,811	5,895
Claims, Benefits and Expenses
Insurance claims and policyholders’ benefits	1,583	1,546	3,038	3,052
Amortization of deferred acquisition costs	374	357	718	716
Non-insurance warranty expense	367	332	721	643
Other operating expenses	329	303	655	587
Interest	28	29	56	57
Total claims, benefits and expenses	2,681	2,567	5,188	5,055
Income before income tax	245	462	623	840
Income tax expense	(40)	(94)	(105)	(160)
Net income	$ 205	$ 368	$ 518	$ 680
Basic earnings per share (in usd per share)	$ 0.75	$ 1.35	$ 1.91	$ 2.50
Diluted earnings per share (in usd per share)	$ 0.75	$ 1.35	$ 1.90	$ 2.49
Weighted Average Outstanding Common Stock and Common Stock Equivalents
Basic (in shares)	271.7	271.9	271.8	271.9
Diluted (in shares)	272.6	272.8	272.7	272.9

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 205	$ 368	$ 518	$ 680
Other Comprehensive (Loss) Income, net of tax
Net unrealized gains and losses on investments	(1,348)	300	(2,963)	(327)
Foreign currency translation adjustment	(68)	12	(82)	14
Pension and postretirement benefits	6	10	12	19
Other comprehensive (loss) income, net of tax	(1,410)	322	(3,033)	(294)
Total comprehensive (loss) income	(1,205)	690	(2,515)	386
Investments
Other Comprehensive (Loss) Income, net of tax
Net unrealized gains and losses on investments	(2)	0	(6)	0
Net unrealized gains and losses on other investments
Other Comprehensive (Loss) Income, net of tax
Net unrealized gains and losses on investments	$ (1,346)	$ 300	$ (2,957)	$ (327)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments:
Fixed maturity securities at fair value (amortized cost of $41,215 and $39,952, less allowance for credit loss of $5 and $18)	$ 39,385	$ 44,380
Equity securities at fair value (cost of $978 and $964)	898	1,035
Limited partnership investments	1,863	1,859
Other invested assets	71	91
Mortgage loans (less allowance for uncollectible receivables of $16 and $16)	949	973
Short term investments	1,114	1,990
Total investments	44,280	50,328
Cash	560	536
Reinsurance receivables (less allowance for uncollectible receivables of $21 and $21)	5,753	5,463
Insurance receivables (less allowance for uncollectible receivables of $28 and $29)	3,210	2,945
Accrued investment income	382	377
Deferred acquisition costs	792	737
Deferred income taxes	927	142
Property and equipment at cost (less accumulated depreciation of $266 and $255)	227	226
Goodwill	145	148
Deferred non-insurance warranty acquisition expense	3,593	3,476
Other assets	2,360	2,261
Total assets	62,229	66,639
Insurance reserves:
Claim and claim adjustment expenses	24,559	24,174
Unearned premiums	6,289	5,761
Future policy benefits	10,926	13,236
Long term debt	2,780	2,779
Deferred non-insurance warranty revenue	4,638	4,503
Other liabilities (includes $62 and $56 due to Loews Corporation)	3,525	3,377
Total liabilities	52,717	53,830
Commitments and contingencies (Notes C and F)
Stockholders' Equity
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 271,315,248 and 271,363,999 shares outstanding)	683	683
Additional paid-in capital	2,203	2,215
Retained earnings	9,415	9,663
Accumulated other comprehensive (loss) income	(2,713)	320
Treasury stock (1,724,995 and 1,676,244 shares), at cost	(76)	(72)
Total stockholders’ equity	9,512	12,809
Total liabilities and stockholders' equity	$ 62,229	$ 66,639

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets - (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fixed maturities securities at amortized cost	$ 41,215	$ 39,952
Marketable securities fixed maturities allowance for credit loss	5	18
Equity securities at cost	978	964
Mortgage loans on real estate commercial and consumer allowance for credit loss	16	16
Allowance for uncollectible reinsurance	21	21
Allowance for uncollectible insurance receivables	28	29
Accumulated depreciation on property and equipment	266	255
Due to related parties	$ 62	$ 56
Common stock, par value (in usd per share)	$ 2.50	$ 2.50
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	273,040,243	273,040,243
Common stock, shares outstanding (in shares)	271,315,248	271,363,999
Treasury stock, shares (in shares)	1,724,995	1,676,244

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities
Net income	$ 518	$ 680
Adjustments to reconcile net income to net cash flows provided by operating activities:
Deferred income tax (benefit) expense	(10)	27
Trading portfolio activity	7	19
Net investment losses (gains)	70	(95)
Equity method investees	184	(79)
Net amortization of investments	(56)	(41)
Depreciation and amortization	25	27
Changes in:
Receivables, net	(614)	(1,087)
Accrued investment income	(6)	(3)
Deferred acquisition costs	(63)	(12)
Insurance reserves	1,376	1,373
Other, net	(178)	(124)
Net cash flows provided by operating activities	1,253	685
Dispositions:
Fixed maturity securities - sales	3,293	1,846
Fixed maturity securities - maturities, calls and redemptions	1,715	2,104
Equity securities	193	193
Limited partnerships	101	124
Mortgage loans	76	69
Purchases:
Fixed maturity securities	(6,251)	(4,615)
Equity securities	(195)	(181)
Limited partnerships	(168)	(169)
Mortgage loans	(53)	(16)
Change in other investments	15	6
Change in short term investments	868	442
Purchases of property and equipment	(25)	(5)
Net cash flows used by investing activities	(431)	(202)
Cash Flows from Financing Activities
Dividends paid to common stockholders	(765)	(414)
Purchase of treasury stock	(21)	(18)
Other, net	0	(9)
Net cash flows used by financing activities	(786)	(441)
Effect of foreign exchange rate changes on cash	(12)	1
Net change in cash	24	43
Cash, beginning of year	536	419
Cash, end of period	$ 560	$ 462

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock
Total stockholder's equity at beginning of period at Dec. 31, 2020		$ 683	$ 2,211	$ 9,081	$ 803	$ (71)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			(10)			16
Dividends to common stockholders ($0.40, $0.38, $2.80, $1.51 per share)				(413)
Net income	$ 680			680
Other comprehensive (loss) income	(294)				(294)
Purchase of treasury stock	(18)					(18)
Total stockholder's equity at end of period at Jun. 30, 2021	12,668	683	2,201	9,348	509	(73)
Total stockholder's equity at beginning of period at Mar. 31, 2021		683	2,194	9,084	187	(59)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			7			1
Dividends to common stockholders ($0.40, $0.38, $2.80, $1.51 per share)				(104)
Net income	368			368
Other comprehensive (loss) income	322				322
Purchase of treasury stock						(15)
Total stockholder's equity at end of period at Jun. 30, 2021	12,668	683	2,201	9,348	509	(73)
Total stockholder's equity at beginning of period at Dec. 31, 2021	12,809	683	2,215	9,663	320	(72)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			(12)			17
Dividends to common stockholders ($0.40, $0.38, $2.80, $1.51 per share)				(766)
Net income	518			518
Other comprehensive (loss) income	(3,033)				(3,033)
Purchase of treasury stock	(21)					(21)
Total stockholder's equity at end of period at Jun. 30, 2022	9,512	683	2,203	9,415	(2,713)	(76)
Total stockholder's equity at beginning of period at Mar. 31, 2022		683	2,195	9,319	(1,303)	(77)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation			8			1
Dividends to common stockholders ($0.40, $0.38, $2.80, $1.51 per share)				(109)
Net income	205			205
Other comprehensive (loss) income	(1,410)				(1,410)
Purchase of treasury stock						0
Total stockholder's equity at end of period at Jun. 30, 2022	$ 9,512	$ 683	$ 2,203	$ 9,415	$ (2,713)	$ (76)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in usd per share)	$ 0.40	$ 0.38	$ 2.80	$ 1.51

General

General	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
General	General Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of CNA Financial Corporation (CNAF) and its subsidiaries. Collectively, CNAF and its subsidiaries are referred to as CNA or the Company. Loews Corporation (Loews) owned approximately 89.6% of the outstanding common stock of CNAF as of June 30, 2022. The accompanying Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). Intercompany amounts have been eliminated. Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, including certain financial statement notes, is not required for interim reporting purposes and has been condensed or omitted. These statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in CNAF's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2021, including the summary of significant accounting policies in Note A. The preparation of Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. The interim financial data as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 is unaudited. However, in the opinion of management, the interim data includes all adjustments, including normal recurring adjustments, necessary for a fair statement of the Company's results for the interim periods. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Accounting Standards Pending Adoption In August 2018, the FASB issued ASU 2018-12 Targeted Improvements to the Accounting for Long-Duration Contracts . The updated accounting guidance requires changes to the measurement and disclosure of long-duration contracts. For the Company, this includes the long term care and fully-ceded single premium immediate annuity business. Entities will be required to review, and update if there is a change, cash flow assumptions (including morbidity and persistency) at least annually, and to update discount rate assumptions quarterly using an upper-medium grade fixed-income instrument yield. The effect of changes in cash flow assumptions will be recorded in the Company's results of operations and the effect of changes in discount rate assumptions will be recorded in Other comprehensive income. The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted, and may be applied using either a modified retrospective transition method or a full retrospective transition method. Financial statements for prior periods presented shall be adjusted to reflect the effects of applying the new accounting guidance. The Company will adopt the new guidance effective January 1, 2023, using the modified retrospective method applied as of the transition date of January 1, 2021. The Company will use a published spot rate curve constructed from A+, A and A- rated U.S. dollar denominated corporate bonds matched to the duration of the corresponding insurance liabilities, to calculate discount rates. The Company will group its long-duration contracts into calendar year cohorts based on the contract issue date and product line. Long term care contracts will be grouped separately from the Company’s fully-ceded single premium immediate annuity contracts. The most significant impact at the transition date will be the effect of updating the discount rate assumption to reflect an upper-medium grade fixed-income instrument yield, which will be partially offset by the de-recognition of Shadow Adjustments associated with long-duration contracts. The Company expects the net impact of these changes will be a $2.2 billion - $2.5 billion decrease in Accumulated other comprehensive income as of the transition date of January 1, 2021. There is a minimal transition impact expected to retained earnings. The requirement to review, and update if there is a change, cash flow assumptions at least annually is expected to change the pattern of earnings being recognized. Adoption will also significantly expand the Company’s disclosures, and will impact systems, processes, and controls. While the requirements of the new guidance represent a material change from existing GAAP, the new guidance will not impact capital and surplus under statutory accounting practices, cash flows, or the underlying economics of the business. The Company continues to make progress in connection with these matters and is in process of refining key accounting policy decisions, technology solutions and updates to internal controls associated with adoption of the new guidance. These in-progress activities include modifications of actuarial valuation systems, data sourcing, analytical procedures and reporting processes.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Earnings (loss) per share is based on weighted average number of outstanding common shares. Basic earnings (loss) per share excludes the impact of dilutive securities and is computed by dividing Net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the three and six months ended June 30, 2022, approximately 1 million potential shares attributable to exercises or conversions into common stock under stock-based employee compensation plans were included in the calculation of diluted earnings per share. For those same periods, approximately 10 thousand and 5 thousand potential shares attributable to exercises or conversions into common stock under stock-based employee compensation plans were not included in the calculation of diluted earnings per share, because the effect would have been antidilutive. For the three and six months ended June 30, 2021, approximately 1 million potential shares attributable to exercises or conversions into common stock under stock-based employee compensation plans were included in the calculation of diluted earnings per share. For those same periods, approximately 1 thousand and 3 thousand potential shares attributable to exercises or conversions into common stock under stock-based employee compensation plans were not included in the calculation of diluted earnings per share, because the effect would have been antidilutive. The Company repurchased 445,000 and 377,615 shares of CNAF common stock at an aggregate cost of $21 million and $18 million during the six months ended June 30, 2022 and 2021.

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Investments	Investments The significant components of Net investment income are presented in the following table. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Fixed maturity securities $ 441 $ 425 $ 870 $ 853 Equity securities (11) 20 (9) 49 Limited partnership investments 6 146 24 189 Mortgage loans 12 15 27 29 Short term investments 2 — 2 — Trading portfolio — 2 1 7 Other — (1) — 1 Gross investment income 450 607 915 1,128 Investment expense (18) (16) (35) (33) Net investment income $ 432 $ 591 $ 880 $ 1,095 During the three and six months ended June 30, 2022, $22 million and $23 million of Net investment loss was recognized due to the change in fair value of common stock still held as of June 30, 2022. During the three and six months ended June 30, 2021, $9 million and $21 million of Net investment income was recognized due to the change in fair value of common stock still held as of June 30, 2021. Net investment gains (losses) are presented in the following table. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Net investment gains (losses): Fixed maturity securities: Gross gains $ 45 $ 51 $ 71 $ 109 Gross losses (60) (20) (88) (40) Net investment gains (losses) on fixed maturity securities (15) 31 (17) 69 Equity securities (71) 17 (109) 19 Derivatives 26 (12) 55 5 Short term investments and other 1 2 1 2 Net investment gains (losses) $ (59) $ 38 $ (70) $ 95 During the three and six months ended June 30, 2022, $70 million and $108 million of losses were recognized in Net investment gains (losses) due to the change in fair value of non-redeemable preferred stock still held as of June 30, 2022. During the three and six months ended June 30, 2021, $15 million of gains were recognized in Net investment gains (losses) due to the change in fair value of non-redeemable preferred stock still held as of June 30, 2021. The following tables present the activity related to the allowance on available-for-sale securities with credit impairments and purchased credit-deteriorated (PCD) assets. Accrued interest receivable on available-for-sale fixed maturity securities totaled $374 million, $369 million , and $374 million as of June 30, 2022, December 31, 2021 and June 30, 2021 and is excluded from the estimate of expected credit losses and the amortized cost basis in the tables included within this Note. (In millions) Corporate and other bonds Asset-backed Total Allowance for credit losses: Balance as of April 1, 2022 $ 12 $ 5 $ 17 Additions to the allowance for credit losses: Securities for which credit losses were not previously recorded — — — Available-for-sale securities accounted for as PCD assets — 3 3 Reductions to the allowance for credit losses: Securities sold during the period (realized) — — — Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Write-offs charged against the allowance 12 — 12 Recoveries of amounts previously written off — — — Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period — (3) (3) Balance as of June 30, 2022 $ — $ 5 $ 5 (In millions) Corporate and other bonds Asset-backed Total Allowance for credit losses: Balance as of April 1, 2021 $ 27 $ 16 $ 43 Additions to the allowance for credit losses: Securities for which credit losses were not previously recorded — — — Available-for-sale securities accounted for as PCD assets — 4 4 Reductions to the allowance for credit losses: Securities sold during the period (realized) — — — Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period (3) 1 (2) Balance as of June 30, 2021 $ 24 $ 21 $ 45 (In millions) Corporate and other bonds Asset-backed Total Allowance for credit losses: Balance as of January 1, 2022 $ 11 $ 7 $ 18 Additions to the allowance for credit losses: Securities for which credit losses were not previously recorded — — — Available-for-sale securities accounted for as PCD assets — 3 3 Reductions to the allowance for credit losses: Securities sold during the period (realized) — — — Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Write-offs charged against the allowance 12 — 12 Recoveries of amounts previously written off — — — Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period 1 (5) (4) Balance as of June 30, 2022 $ — $ 5 $ 5 (In millions) Corporate and other bonds Asset-backed Total Allowance for credit losses: Balance as of January 1, 2021 $ 23 $ 17 $ 40 Additions to the allowance for credit losses: Securities for which credit losses were not previously recorded 14 — 14 Available-for-sale securities accounted for as PCD assets 2 4 6 Reductions to the allowance for credit losses: Securities sold during the period (realized) 6 — 6 Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period (9) — (9) Balance as of June 30, 2021 $ 24 $ 21 $ 45 The components of available-for-sale impairment losses (gains) recognized in earnings by asset type are presented in the following table. The table includes losses (gains) on securities with an intention to sell and changes in the allowance for credit losses on securities since acquisition date. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Fixed maturity securities available-for-sale: Corporate and other bonds $ 21 $ (2) $ 29 $ 5 Asset-backed (1) 1 1 — Impairment losses (gains) recognized in earnings $ 20 $ (1) $ 30 $ 5 There were no losses recognized on mortgage loans during the three and six months ended June 30, 2022 or 2021. The following tables present a summary of fixed maturity securities. June 30, 2022 Cost or Gross Gross Allowance for Credit Losses Estimated (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 22,606 $ 499 $ 1,440 $ — $ 21,665 States, municipalities and political subdivisions 9,822 492 676 — 9,638 Asset-backed: Residential mortgage-backed 3,034 14 305 — 2,743 Commercial mortgage-backed 1,995 6 164 — 1,837 Other asset-backed 3,063 4 220 5 2,842 Total asset-backed 8,092 24 689 5 7,422 U.S. Treasury and obligations of government-sponsored enterprises 115 1 7 — 109 Foreign government 577 1 30 — 548 Redeemable preferred stock 3 — — — 3 Total fixed maturity securities available-for-sale 41,215 1,017 2,842 5 39,385 Total fixed maturity securities trading — — — — — Total fixed maturity securities $ 41,215 $ 1,017 $ 2,842 $ 5 $ 39,385 December 31, 2021 Cost or Gross Gross Allowance for Credit Losses Estimated (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 21,444 $ 2,755 $ 56 $ 11 $ 24,132 States, municipalities and political subdivisions 10,358 1,599 14 — 11,943 Asset-backed: Residential mortgage-backed 2,893 71 8 — 2,956 Commercial mortgage-backed 1,987 63 19 — 2,031 Other asset-backed 2,561 54 10 7 2,598 Total asset-backed 7,441 188 37 7 7,585 U.S. Treasury and obligations of government-sponsored enterprises 132 1 3 — 130 Foreign government 570 15 2 — 583 Redeemable preferred stock — — — — — Total fixed maturity securities available-for-sale 39,945 4,558 112 18 44,373 Total fixed maturity securities trading 7 — — — 7 Total fixed maturity securities $ 39,952 $ 4,558 $ 112 $ 18 $ 44,380 The net unrealized gains and losses on investments included in the tables above are recorded as a component of Accumulated other comprehensive income (AOCI). When presented in AOCI, these amounts are net of tax and any required Shadow Adjustments. To the extent there are unrealized gains on fixed income securities supporting the reserves of certain products within the Life & Group segment that would result in a premium deficiency, or would impact the reserve balance if realized, a related increase in Insurance reserves is recorded, net of tax, as a reduction of net unrealized gains (losses) through Other comprehensive income (loss) (Shadow Adjustments). As of June 30, 2022 and December 31, 2021, the net unrealized gains and losses on investments included in AOCI were correspondingly reduced by Shadow Adjustments of $482 million and $2,477 million. The following tables present the estimated fair value and gross unrealized losses of fixed maturity securities in a gross unrealized loss position for which an allowance for credit loss has not been recorded, by the length of time in which the securities have continuously been in that position. Less than 12 Months 12 Months or Longer Total June 30, 2022 Estimated Gross Estimated Gross Estimated Gross (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 14,827 $ 1,366 $ 322 $ 74 $ 15,149 $ 1,440 States, municipalities and political subdivisions 4,121 666 32 10 4,153 676 Asset-backed: Residential mortgage-backed 2,374 305 3 — 2,377 305 Commercial mortgage-backed 1,552 143 149 21 1,701 164 Other asset-backed 2,354 214 85 6 2,439 220 Total asset-backed 6,280 662 237 27 6,517 689 U.S. Treasury and obligations of government-sponsored enterprises 82 6 3 1 85 7 Foreign government 436 28 23 2 459 30 Total $ 25,746 $ 2,728 $ 617 $ 114 $ 26,363 $ 2,842 Less than 12 Months 12 Months or Longer Total December 31, 2021 Estimated Gross Estimated Gross Estimated Gross (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 2,389 $ 48 $ 136 $ 8 $ 2,525 $ 56 States, municipalities and political subdivisions 730 14 — — 730 14 Asset-backed: Residential mortgage-backed 1,043 8 — — 1,043 8 Commercial mortgage-backed 527 7 167 12 694 19 Other asset-backed 840 10 62 — 902 10 Total asset-backed 2,410 25 229 12 2,639 37 U.S. Treasury and obligations of government-sponsored enterprises 69 3 5 — 74 3 Foreign government 97 2 — — 97 2 Total $ 5,695 $ 92 $ 370 $ 20 $ 6,065 $ 112 The following table presents the estimated fair value and gross unrealized losses of fixed maturity securities in a gross unrealized loss position for which an allowance for credit loss has not been recorded, by ratings distribution. June 30, 2022 December 31, 2021 (In millions) Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses U.S. Government, Government agencies and Government-sponsored enterprises $ 2,150 $ 223 $ 898 $ 8 AAA 1,232 205 368 6 AA 4,078 581 875 17 A 5,454 493 1,516 23 BBB 11,806 1,111 1,812 42 Non-investment grade 1,643 229 596 16 Total $ 26,363 $ 2,842 $ 6,065 $ 112 Based on current facts and circumstances, the Company believes the unrealized losses presented in the June 30, 2022 securities in a gross unrealized loss position tables above are not indicative of the ultimate collectibility of the current amortized cost of the securities, but rather are primarily attributable to changes in risk-free interest rates and a general market widening of credit spreads. In reaching this determination, the Company considered the recent volatility in risk-free rates and credit spreads as well as the fact that its unrealized losses are concentrated in investment grade issuers. Additionally, the Company has no current intent to sell securities with unrealized losses, nor is it more likely than not that it will be required to sell prior to recovery of amortized cost; accordingly, the Company has determined that there are no additional impairment losses to be recorded as of June 30, 2022. Contractual Maturity The following table presents available-for-sale fixed maturity securities by contractual maturity. June 30, 2022 December 31, 2021 (In millions) Cost or Estimated Cost or Estimated Due in one year or less $ 1,150 $ 1,153 $ 1,603 $ 1,624 Due after one year through five years 9,330 9,154 10,637 11,229 Due after five years through ten years 14,434 13,549 13,294 14,338 Due after ten years 16,301 15,529 14,411 17,182 Total $ 41,215 $ 39,385 $ 39,945 $ 44,373 Actual maturities may differ from contractual maturities because certain securities may be called or prepaid. Securities not due at a single date are allocated based on weighted average life. Derivative Financial Instruments The Company holds an embedded derivative on a funds withheld liability with a notional value of $285 million and $270 million and a fair value of $41 million and $(12) million as of June 30, 2022 and December 31, 2021. The embedded derivative on the funds withheld liability is accounted for separately and reported with the funds withheld liability in Other liabilities on the Condensed Consolidated Balance Sheets. Investment Commitments As part of its overall investment strategy, the Company invests in various assets which require future purchase, sale or funding commitments. These investments are recorded once funded, and the related commitments may include future capital calls from various third-party limited partnerships, signed and accepted mortgage loan applications, and obligations related to private placement securities. As of June 30, 2022, the Company had commitments to purchase or fund approximately $1,455 million and sell approximately $25 million under the terms of these investments. Mortgage Loans The following table presents the amortized cost basis of mortgage loans for each credit quality indicator by year of origination. The primary credit quality indicators utilized are debt service coverage ratios (DSCR) and loan-to-value ratios (LTV). June 30, 2022 Mortgage Loans Amortized Cost Basis by Origination Year (1) (In millions) 2022 2021 2020 2019 2018 Prior Total DSCR ≥1.6x LTV less than 55% $ 9 $ 14 $ 112 $ 21 $ 54 $ 280 $ 490 LTV 55% to 65% — — — 8 — — 8 LTV greater than 65% 18 11 — — — — 29 DSCR 1.2x - 1.6x LTV less than 55% — 49 14 78 10 44 195 LTV 55% to 65% 28 — 24 — — 8 60 LTV greater than 65% 15 — — — — — 15 DSCR ≤1.2 LTV less than 55% — — — 52 — 17 69 LTV 55% to 65% — — — 55 — — 55 LTV greater than 65% 10 21 — 6 — 7 44 Total $ 80 $ 95 $ 150 $ 220 $ 64 $ 356 $ 965 (1) The values in the table above reflect DSCR on a standardized amortization period and LTV based on the most recent appraised values trended forward using changes in a commercial real estate price index. As of June 30, 2022, accrued interest receivable on mortgage loans totaled $3 million and is excluded from the amortized cost basis disclosed in the table above and the estimate of expected credit losses.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair value is the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following fair value hierarchy is used in selecting inputs, with the highest priority given to Level 1, as these are the most transparent or reliable. Level 1 - Quoted prices for identical instruments in active markets. Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. Level 3 - Valuations derived from valuation techniques in which one or more significant inputs are not observable. Prices may fall within Level 1, 2 or 3 depending upon the methodology and inputs used to estimate fair value for each specific security. In general, the Company seeks to price securities using third-party pricing services. Securities not priced by pricing services are submitted to independent brokers for valuation and, if those are not available, internally developed pricing models are used to value assets using a methodology and inputs the Company believes market participants would use to value the assets. Prices obtained from third-party pricing services or brokers are not adjusted by the Company. The Company performs control procedures over information obtained from pricing services and brokers to ensure prices received represent a reasonable estimate of fair value and to confirm representations regarding whether inputs are observable or unobservable. Procedures may include i) the review of pricing service methodologies or broker pricing qualifications, ii) back-testing, where past fair value estimates are compared to actual transactions executed in the market on similar dates, iii) exception reporting, where period-over-period changes in price are reviewed and challenged with the pricing service or broker based on exception criteria, and iv) deep dives, where the Company performs an independent analysis of the inputs and assumptions used to price individual securities. Assets and Liabilities Measured at Fair Value Assets and liabilities measured at fair value on a recurring basis are presented in the following tables. Corporate bonds and other includes obligations of the U.S. Treasury, government-sponsored enterprises, foreign governments and redeemable preferred stock. June 30, 2022 Total (In millions) Level 1 Level 2 Level 3 Assets Fixed maturity securities: Corporate bonds and other $ 118 $ 21,361 $ 846 $ 22,325 States, municipalities and political subdivisions — 9,592 46 9,638 Asset-backed — 6,781 641 7,422 Total fixed maturity securities 118 37,734 1,533 39,385 Equity securities: Common stock 188 — 34 222 Non-redeemable preferred stock 59 604 13 676 Total equity securities 247 604 47 898 Short term and other 932 35 — 967 Total assets $ 1,297 $ 38,373 $ 1,580 $ 41,250 Liabilities Other liabilities $ — $ (41) $ — $ (41) Total liabilities $ — $ (41) $ — $ (41) December 31, 2021 Total (In millions) Level 1 Level 2 Level 3 Assets Fixed maturity securities: Corporate bonds and other $ 140 $ 23,775 $ 937 $ 24,852 States, municipalities and political subdivisions — 11,887 56 11,943 Asset-backed — 7,029 556 7,585 Total fixed maturity securities 140 42,691 1,549 44,380 Equity securities: Common stock 220 — 13 233 Non-redeemable preferred stock 65 721 16 802 Total equity securities 285 721 29 1,035 Short term and other 1,798 74 — 1,872 Total assets $ 2,223 $ 43,486 $ 1,578 $ 47,287 Liabilities Other liabilities $ — $ 12 $ — $ 12 Total liabilities $ — $ 12 $ — $ 12 The tables below present a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3). Level 3 (In millions) Corporate bonds and other States, municipalities and political subdivisions Asset-backed Equity securities Total Balance as of April 1, 2022 $ 915 $ 51 $ 604 $ 44 $ 1,614 Total realized and unrealized investment gains (losses): Reported in Net investment gains (losses) (1) — 3 (2) — Reported in Net investment income — — 5 (1) 4 Reported in Other comprehensive income (loss) (82) (5) (52) — (139) Total realized and unrealized investment gains (losses) (83) (5) (44) (3) (135) Purchases 51 — 92 — 143 Sales — — (2) (3) (5) Settlements (37) — (23) 9 (51) Transfers into Level 3 — — 14 — 14 Transfers out of Level 3 — — — — — Balance as of June 30, 2022 $ 846 $ 46 $ 641 $ 47 $ 1,580 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2022 recognized in Net income (loss) in the period $ — $ — $ — $ (3) $ (3) Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2022 recognized in Other comprehensive income (loss) in the period (81) (5) (52) — (138) Level 3 (In millions) Corporate bonds and other States, municipalities and political subdivisions Asset-backed Equity securities Total Balance as of April 1, 2021 $ 767 $ 44 $ 315 $ 29 $ 1,155 Total realized and unrealized investment gains (losses): Reported in Net investment gains (losses) 3 — — — 3 Reported in Net investment income — — 1 — 1 Reported in Other comprehensive income (loss) 16 2 4 — 22 Total realized and unrealized investment gains (losses) 19 2 5 — 26 Purchases 122 12 84 — 218 Sales (3) — — (4) (7) Settlements (22) (1) (10) — (33) Transfers into Level 3 — — 21 — 21 Transfers out of Level 3 — — (5) — (5) Balance as of June 30, 2021 $ 883 $ 57 $ 410 $ 25 $ 1,375 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2021 recognized in Net income (loss) in the period $ — $ — $ — $ — $ — Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2021 recognized in Other comprehensive income (loss) in the period 16 2 4 — 22 Level 3 (In millions) Corporate bonds and other States, municipalities and political subdivisions Asset-backed Equity securities Total Balance as of January 1, 2022 $ 937 $ 56 $ 556 $ 29 $ 1,578 Total realized and unrealized investment gains (losses): Reported in Net investment gains (losses) (2) — 5 (3) — Reported in Net investment income — — 6 3 9 Reported in Other comprehensive income (loss) (153) (10) (84) — (247) Total realized and unrealized investment gains (losses) (155) (10) (73) — (238) Purchases 118 — 232 12 362 Sales (5) — (2) (3) (10) Settlements (59) — (40) 9 (90) Transfers into Level 3 10 — 19 — 29 Transfers out of Level 3 — — (51) — (51) Balance as of June 30, 2022 $ 846 $ 46 $ 641 $ 47 $ 1,580 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2022 recognized in Net income (loss) in the period $ — $ — $ — $ (1) $ (1) Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2022 recognized in Other comprehensive income (loss) in the period (153) (10) (83) — (246) Level 3 (In millions) Corporate bonds and other States, municipalities and political subdivisions Asset-backed Equity securities Total Balance as of January 1, 2021 $ 770 $ 46 $ 308 $ 27 $ 1,151 Total realized and unrealized investment gains (losses): Reported in Net investment gains (losses) (10) — — 1 (9) Reported in Net investment income — — 3 1 4 Reported in Other comprehensive income (loss) (24) — (5) — (29) Total realized and unrealized investment gains (losses) (34) — (2) 2 (34) Purchases 164 12 114 — 290 Sales (3) — — (4) (7) Settlements (24) (1) (27) — (52) Transfers into Level 3 10 — 30 — 40 Transfers out of Level 3 — — (13) — (13) Balance as of June 30, 2021 $ 883 $ 57 $ 410 $ 25 $ 1,375 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2021 recognized in Net income (loss) in the period $ — $ — $ — $ 2 $ 2 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2021 recognized in Other comprehensive income (loss) in the period (24) — (5) — (29) Valuation Methodologies and Inputs The following section describes the valuation methodologies and relevant inputs used to measure different financial instruments at fair value, including an indication of the level in the fair value hierarchy in which the instruments are generally classified. Fixed Maturity Securities Level 1 securities include highly liquid government securities and exchange traded bonds, valued using quoted market prices. Level 2 securities include most other fixed maturity securities as the significant inputs are observable in the marketplace. All classes of Level 2 fixed maturity securities are valued using a methodology based on information generated by market transactions involving identical or comparable assets, a discounted cash flow methodology, or a combination of both when necessary. Common inputs for all classes of fixed maturity securities include prices from recently executed transactions of similar securities, marketplace quotes, benchmark yields, spreads off benchmark yields, interest rates and U.S. Treasury or swap curves. Specifically for asset-backed securities, key inputs include prepayment and default projections based on past performance of the underlying collateral and current market data. Fixed maturity securities are primarily assigned to Level 3 in cases where broker/dealer quotes are significant inputs to the valuation and there is a lack of transparency as to whether these quotes are based on information that is observable in the marketplace. Level 3 securities also include private placement debt securities whose fair value is determined using internal models with some inputs that are not market observable. Equity Securities Level 1 equity securities include publicly traded securities valued using quoted market prices. Level 2 securities are primarily valued using pricing for similar securities, recently executed transactions and other pricing models utilizing market observable inputs. Level 3 securities are primarily priced using broker/dealer quotes and internal models with some inputs that are not market observable. Short Term and Other Invested Assets Securities that are actively traded or have quoted prices are classified as Level 1. These securities include money market funds and treasury bills. Level 2 primarily includes non-U.S. government securities, for which all inputs are market observable. Fixed maturity securities purchased within one year of maturity are classified consistent with fixed maturity securities discussed above. Short term investments as presented in the tables above differ from the amounts presented on the Condensed Consolidated Balance Sheets because certain short term investments, such as time deposits, are not measured at fair value. As of June 30, 2022 and December 31, 2021, there were $64 million and $74 million of overseas deposits within Other invested assets, which can be redeemed at net asset value in 90 days or less. Overseas deposits are excluded from the fair value hierarchy because their fair value is recorded using the net asset value per share (or equivalent) practical expedient. Derivative Financial Investments The embedded derivative on funds withheld liability is valued using the change in fair value of the assets supporting the funds withheld liability, which are fixed maturity securities primarily valued with observable inputs. Significant Unobservable Inputs The following tables present quantitative information about the significant unobservable inputs utilized by the Company in the fair value measurements of Level 3 assets. Valuations for assets and liabilities not presented in the tables below are primarily based on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of these unobservable inputs is neither provided nor reasonably available to the Company. The weighted average rate is calculated based on fair value. June 30, 2022 Estimated Fair Value Valuation Technique(s) Unobservable Input(s) Range Fixed maturity securities $ 1,117 Discounted cash flow Credit spread 1% - 9% (3%) December 31, 2021 Estimated Fair Value Valuation Technique(s) Unobservable Input(s) Range Fixed maturity securities $ 1,225 Discounted cash flow Credit spread 1% - 7% (2%) For fixed maturity securities, an increase to the credit spread assumptions would result in a lower fair value measurement. Financial Assets and Liabilities Not Measured at Fair Value The carrying amount and estimated fair value of the Company's financial assets and liabilities which are not measured at fair value on the Condensed Consolidated Balance Sheets are presented in the following tables. June 30, 2022 Carrying Estimated Fair Value (In millions) Level 1 Level 2 Level 3 Total Assets Mortgage loans $ 949 $ — $ — $ 915 $ 915 Liabilities Long term debt $ 2,780 $ — $ 2,654 $ — $ 2,654 December 31, 2021 Carrying Estimated Fair Value (In millions) Level 1 Level 2 Level 3 Total Assets Mortgage loans $ 973 $ — $ — $ 1,018 $ 1,018 Liabilities Long term debt $ 2,779 $ — $ 2,978 $ — $ 2,978 The carrying amounts reported on the Condensed Consolidated Balance Sheets for Cash, Short term investments not carried at fair value, Accrued investment income and certain Other assets and Other liabilities approximate fair value due to the short term nature of these items. These assets and liabilities are not listed in the tables above.

Claim and Claim Adjustment Expe

Claim and Claim Adjustment Expense Reserves	6 Months Ended
	Jun. 30, 2022
Liability for Claims and Claims Adjustment Expense [Abstract]
Claim and Claim Adjustment Expense Reserves	Claim and Claim Adjustment Expense Reserves Property and casualty insurance claim and claim adjustment expense reserves represent the estimated amounts necessary to resolve all outstanding claims, including incurred but not reported (IBNR) claims as of the reporting date. The Company's reserve projections are based primarily on detailed analysis of the facts in each case, the Company's experience with similar cases and various historical development patterns. Consideration is given to historical patterns such as claim reserving trends and settlement practices, loss payments, pending levels of unpaid claims and product mix, as well as court decisions and economic conditions, including inflation, and public attitudes. All of these factors can affect the estimation of claim and claim adjustment expense reserves. Establishing claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves for catastrophic events that have occurred, is an estimation process. Many factors can ultimately affect the final settlement of a claim and, therefore, the necessary reserve. Changes in the law, results of litigation, medical costs, the cost of repair materials and labor rates can affect ultimate claim costs. In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of the claim, the more variable the ultimate settlement amount can be. Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably estimable than long-tail claims, such as workers' compensation, general liability and professional liability claims. Adjustments to prior year reserve estimates, if necessary, are reflected in the results of operations in the period that the need for such adjustments is determined. There can be no assurance that the Company's ultimate cost for insurance losses will not exceed current estimates. Catastrophes are an inherent risk of the property and casualty insurance business and have contributed to material period-to-period fluctuations in our results of operations and/or equity. The Company reported catastrophe losses, net of reinsurance, of $37 million and $57 million for the three and six months ended June 30, 2022 and $54 million and $179 million for the three and six months ended June 30, 2021 related primarily to severe weather related events. Liability for Unpaid Claim and Claim Adjustment Expenses The following table presents a reconciliation between beginning and ending claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves of the Life & Group segment. For the six months ended June 30 (In millions) 2022 2021 Reserves, beginning of year: Gross $ 24,174 $ 22,706 Ceded 4,969 4,005 Net reserves, beginning of year 19,205 18,701 Reduction of net reserves due to Excess Workers' Compensation Loss Portfolio Transfer — (632) Net incurred claim and claim adjustment expenses: Provision for insured events of current year 2,974 2,930 Increase (decrease) in provision for insured events of prior years (69) (78) Amortization of discount 90 95 Total net incurred (1) 2,995 2,947 Net payments attributable to: Current year events (245) (317) Prior year events (2,330) (1,949) Total net payments (2,575) (2,266) Foreign currency translation adjustment and other (222) (5) Net reserves, end of period 19,403 18,745 Ceded reserves, end of period 5,156 4,735 Gross reserves, end of period $ 24,559 $ 23,480 (1) Total net incurred above does not agree to Insurance claims and policyholders' benefits as reflected on the Condensed Consolidated Statements of Operations due to amounts related to retroactive reinsurance deferred gain accounting, the loss on the Excess Workers' Compensation Loss Portfolio Transfer, uncollectible reinsurance and benefit expenses related to future policy benefits, which are not reflected in the table above. Net Prior Year Development Changes in estimates of claim and claim adjustment expense reserves, net of reinsurance, for prior years are defined as net prior year loss reserve development (development). These changes can be favorable or unfavorable. The following table presents development recorded for the Specialty, Commercial, International and Corporate & Other segments. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Pretax (favorable) unfavorable development: Specialty $ (10) $ (10) $ (20) $ (25) Commercial (22) — (24) — International (5) (1) (5) (1) Corporate & Other 64 40 64 40 Total pretax (favorable) unfavorable development $ 27 $ 29 $ 15 $ 14 Unfavorable development of $64 million was recorded within the Corporate & Other segment for the three and six months ended June 30, 2022 largely associated with legacy mass tort abuse claims, including the recent Diocese of Rochester proposed settlement. Unfavorable development of $40 million was recorded within the Corporate & Other segment for the three and six months ended June 30, 2021 due to legacy mass tort exposures, primarily related to abuse. Specialty The following table presents further detail of the development recorded for the Specialty segment. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Pretax (favorable) unfavorable development: Medical Professional Liability $ 1 $ — $ 9 $ 8 Other Professional Liability and Management Liability 13 10 13 10 Surety (19) (23) (28) (38) Warranty — — (9) (8) Other (5) 3 (5) 3 Total pretax (favorable) unfavorable development $ (10) $ (10) $ (20) $ (25) Three Months 2022 Unfavorable development in other professional liability and management liability was due to higher than expected claim severity and frequency in the Company’s cyber and professional E&O businesses in multiple accident years. Favorable development in surety was primarily due to lower than expected frequency and lack of systemic activity in recent accident years. 2021 Unfavorable development in other professional liability and management liability was due to higher than expected claim severity and frequency in the Company’s cyber business in recent accident years. Favorable development in surety was primarily due to lower than expected frequency and lack of systemic activity in recent accident years. Six Months 2022 Unfavorable development in other professional liability and management liability was due to higher than expected claim severity and frequency in the Company’s cyber and professional E&O businesses in multiple accident years. Favorable development in surety was primarily due to lower than expected frequency and lack of systemic activity in recent accident years. 2021 Unfavorable development in other professional liability and management liability was due to higher than expected claim severity and frequency in the Company’s cyber business in recent accident years. Favorable development in surety was primarily due to lower than expected frequency and lack of systemic activity in recent accident years. Commercial The following table presents further detail of the development recorded for the Commercial segment. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Pretax (favorable) unfavorable development: Commercial Auto $ 21 $ 30 $ 21 $ 30 General Liability 41 — 41 — Workers' Compensation (82) (42) (84) (42) Property and Other (2) 12 (2) 12 Total pretax (favorable) unfavorable development $ (22) $ — $ (24) $ — Three Months 2022 Unfavorable development in commercial auto was due to higher than expected claim severity in the Company’s construction business in multiple accident years. Unfavorable development in general liability was due to higher than expected claim severity in construction, middle market and small business across multiple accident years. Favorable development in workers’ compensation was due to favorable medical trends driving lower than expected severity in multiple accident years. 2021 Unfavorable development in commercial auto was due to higher than expected claim severity in the Company’s construction and middle market businesses in recent accident years. Favorable development in workers’ compensation was due to favorable medical trends driving lower than expected severity in multiple accident years. Unfavorable development in property and other was primarily due to higher than expected large loss activity in the Company’s marine business in multiple accident years. Six Months 2022 Unfavorable development in commercial auto was due to higher than expected claim severity in the Company’s construction business in multiple accident years. Unfavorable development in general liability was due to higher than expected claim severity in construction, middle market and small business across multiple accident years. Favorable development in workers’ compensation was due to favorable medical trends driving lower than expected severity in multiple accident years. 2021 Unfavorable development in commercial auto was due to higher than expected claim severity in the Company’s construction and middle market businesses in recent accident years. Favorable development in workers’ compensation was due to favorable medical trends driving lower than expected severity in multiple accident years. Unfavorable development in property and other was primarily due to higher than expected large loss activity in the Company’s marine business in multiple accident years. International The following table presents further detail of the development recorded for the International segment. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 (1) 2022 2021 (1) Pretax (favorable) unfavorable development: Commercial $ (4) $ — $ (4) $ — Specialty (1) (1) (1) (1) Other — — — — Total pretax (favorable) unfavorable development $ (5) $ (1) $ (5) $ (1) (1) Effective December 31, 2021 the International lines of business were consolidated to align with domestic operations. Prior period information has been conformed to the new line of business presentation. Asbestos & Environmental Pollution (A&EP) Reserves In 2010, Continental Casualty Company (CCC) together with several of the Company’s insurance subsidiaries completed a transaction with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc., under which substantially all of the Company’s legacy A&EP liabilities were ceded to NICO through a Loss Portfolio Transfer (LPT). At the effective date of the transaction, the Company ceded approximately $1.6 billion of net A&EP claim and allocated claim adjustment expense reserves to NICO under a retroactive reinsurance agreement with an aggregate limit of $4 billion. The $1.6 billion of claim and allocated claim adjustment expense reserves ceded to NICO was net of $1.2 billion of ceded claim and allocated claim adjustment expense reserves under existing third-party reinsurance contracts. The NICO LPT aggregate reinsurance limit also covers credit risk on the existing third-party reinsurance related to these liabilities. The Company paid NICO a reinsurance premium of $2 billion and transferred to NICO billed third-party reinsurance receivables related to A&EP claims with a net book value of $215 million, resulting in total consideration of $2.2 billion. In years subsequent to the effective date of the LPT, the Company recognized adverse prior year development on its A&EP reserves resulting in additional amounts ceded under the LPT. As a result, the cumulative amounts ceded under the LPT have exceeded the $2.2 billion consideration paid, resulting in the NICO LPT moving into a gain position, requiring retroactive reinsurance accounting. Under retroactive reinsurance accounting, this gain is deferred and only recognized in earnings in proportion to actual paid recoveries under the LPT. Over the life of the contract, there is no economic impact as long as any additional losses incurred are within the limit of the LPT. In a period in which the Company recognizes a change in the estimate of A&EP reserves that increases or decreases the amounts ceded under the LPT, the proportion of actual paid recoveries to total ceded losses is affected and the change in the deferred gain is recognized in earnings as if the revised estimate of ceded losses was available at the effective date of the LPT. The effect of the deferred retroactive reinsurance benefit is recorded in Insurance claims and policyholders' benefits on the Condensed Consolidated Statements of Operations. The impact of the LPT on the Condensed Consolidated Statements of Operations was the recognition of a retroactive reinsurance benefit of $11 million and $12 million for the three months ended June 30, 2022 and 2021 and $23 million and $22 million for the six months ended June 30, 2022 and 2021. As of June 30, 2022 and December 31, 2021, the cumulative amounts ceded under the LPT were $3.4 billion. The unrecognized deferred retroactive reinsurance benefit was $406 million and $429 million as of June 30, 2022 and December 31, 2021 and is included within Other liabilities on the Condensed Consolidated Balance Sheets. NICO established a collateral trust account as security for its obligations to the Company. The fair value of the collateral trust account was $2.4 billion as of June 30, 2022. In addition, Berkshire Hathaway Inc. guaranteed the payment obligations of NICO up to the aggregate reinsurance limit as well as certain of NICO’s performance obligations under the trust agreement. NICO is responsible for claims handling and billing and collection from third-party reinsurers related to the majority of the Company’s A&EP claims. Credit Risk for Ceded Reserves The majority of the Company’s outstanding voluntary reinsurance receivables are due from reinsurers with financial strength ratings of A- or higher. Receivables due from reinsurers with lower financial strength ratings are primarily due from captive reinsurers and are backed by collateral arrangements.

Legal Proceedings, Contingencie

Legal Proceedings, Contingencies and Guarantees	6 Months Ended
	Jun. 30, 2022
Legal Proceedings, Commitments and Contingencies, and Guarantees [Abstract]
Legal Proceedings, Contingencies and Guarantees	Legal Proceedings, Contingencies and Guarantees The Company is a party to various claims and litigation incidental to its business, which, based on the facts and circumstances currently known, are not material to the Company's results of operations or financial position. Guarantees The Company has provided guarantees, if the primary obligor fails to perform, to holders of structured settlement annuities issued by a previously owned subsidiary. As of June 30, 2022, the potential amount of future payments the Company could be required to pay under these guarantees was approximately $1.6 billion, which will be paid over the lifetime of the annuitants. The Company does not believe any payment is likely under these guarantees, as the Company is the beneficiary of a trust that must be maintained at a level that approximates the discounted reserves for these annuities.

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans The components of net periodic pension cost (benefit) are presented in the following table. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Net periodic pension cost (benefit) Interest cost on projected benefit obligation $ 16 $ 16 $ 33 $ 31 Expected return on plan assets (38) (39) (76) (77) Amortization of net actuarial (gain) loss 8 11 15 23 Settlement loss — 1 — 1 Total net periodic pension cost (benefit) $ (14) $ (11) $ (28) $ (22) The following table indicates the line items in which the non-service cost (benefit) is presented in the Condensed Consolidated Statements of Operations. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Non-Service Cost (Benefit): Insurance claims and policyholder's benefits $ (4) $ (3) $ (8) $ (6) Other operating expenses (10) (8) (20) (16) Total net periodic pension cost (benefit) $ (14) $ (11) $ (28) $ (22)

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) by Component	6 Months Ended
	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss) by Component	Accumulated Other Comprehensive Income (Loss) by Component The tables below display the changes in Accumulated other comprehensive income (loss) by component. (In millions) Net unrealized gains (losses) on investments with an allowance for credit losses Net unrealized gains (losses) on other investments Pension and postretirement benefits Cumulative foreign currency translation adjustment Total Balance as of April 1, 2022 $ (6) $ (572) $ (598) $ (127) $ (1,303) Other comprehensive income (loss) before reclassifications (1) (1,360) — (68) (1,429) Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $3, $1, $— and $3 1 (14) (6) — (19) Other comprehensive income (loss) net of tax (expense) benefit of $—, $356, $(1), $— and $355 (2) (1,346) 6 (68) (1,410) Balance as of June 30, 2022 $ (8) $ (1,918) $ (592) $ (195) $ (2,713) (In millions) Net unrealized gains (losses) on investments with an allowance for credit losses Net unrealized gains (losses) on other investments Pension and postretirement benefits Cumulative foreign currency translation adjustment Total Balance as of April 1, 2021 $ — $ 1,118 $ (839) $ (92) $ 187 Other comprehensive income (loss) before reclassifications 1 323 — 12 336 Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $—, $(7), $3, $— and $(4) 1 23 (10) — 14 Other comprehensive income (loss) net of tax (expense) benefit of $—, $(75), $(3), $— and $(78) — 300 10 12 322 Balance as of June 30, 2021 $ — $ 1,418 $ (829) $ (80) $ 509 (In millions) Net unrealized gains (losses) on investments with an allowance for credit losses Net unrealized gains (losses) on other investments Pension and postretirement benefits Cumulative foreign currency translation adjustment Total Balance as of January 1, 2022 $ (2) $ 1,039 $ (604) $ (113) $ 320 Other comprehensive income (loss) before reclassifications (5) (2,972) — (82) (3,059) Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $4, $3, $— and $6 1 (15) (12) — (26) Other comprehensive income (loss) net of tax (expense) benefit of $1, $780, $(3), $— and $778 (6) (2,957) 12 (82) (3,033) Balance as of June 30, 2022 $ (8) $ (1,918) $ (592) $ (195) $ (2,713) (In millions) Net unrealized gains (losses) on investments with an allowance for credit losses Net unrealized gains (losses) on other investments Pension and postretirement benefits Cumulative foreign currency translation adjustment Total Balance as of January 1, 2021 $ — $ 1,745 $ (848) $ (94) $ 803 Other comprehensive income (loss) before reclassifications (2) (270) — 14 (258) Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $1, $(15), $5, $— and $(9) (2) 57 (19) — 36 Other comprehensive income (loss) net of tax (expense) benefit of $—, $87, $(5), $— and $82 — (327) 19 14 (294) Balance as of June 30, 2021 $ — $ 1,418 $ (829) $ (80) $ 509 Amounts reclassified from Accumulated other comprehensive income (loss) shown above are reported in Net income (loss) as follows: Component of AOCI Condensed Consolidated Statements of Operations Line Item Affected by Reclassifications Net unrealized gains (losses) on investments with an allowance for credit losses and Net unrealized gains (losses) on other investments Net investment gains (losses) Pension and postretirement benefits Other operating expenses and Insurance claims and policyholders' benefits

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Business Segments	Business Segments The Company's property and casualty commercial insurance operations are managed and reported in three business segments: Specialty, Commercial and International. These three segments are collectively referred to as Property & Casualty Operations. The Company's operations outside of Property & Casualty Operations are managed and reported in two segments: Life & Group and Corporate & Other. The accounting policies of the segments are the same as those described in Note A to the Consolidated Financial Statements within CNAF's Annual Report on Form 10-K for the year ended December 31, 2021. The Company manages most of its assets on a legal entity basis, while segment operations are generally conducted across legal entities. As such, only Insurance and Reinsurance receivables, Insurance reserves, Deferred acquisition costs, Goodwill and Deferred non-insurance warranty acquisition expense and revenue are readily identifiable for individual segments. Distinct investment portfolios are not maintained for every individual segment; accordingly, allocation of assets to each segment is not performed. Therefore, a significant portion of Net investment income and Net investment gains or losses are allocated primarily based on each segment's net carried insurance reserves, as adjusted. All significant intersegment income and expense have been eliminated. Income taxes have been allocated on the basis of the taxable income of the segments. In the following tables, certain financial measures are presented to provide information used by management to monitor the Company's operating performance. Management utilizes these financial measures to monitor the Company's insurance operations and investment portfolio. The performance of the Company's insurance operations is monitored by management through core income (loss), which is derived from certain income statement amounts. The Company's investment portfolio is monitored by management through analysis of various factors including unrealized gains and losses on securities, portfolio duration and exposure to market and credit risk. Core income (loss) is calculated by excluding from net income (loss) the after-tax effects of net investment gains or losses and any cumulative effects of changes in accounting guidance. The calculation of core income (loss) excludes net investment gains or losses because net investment gains or losses are generally driven by economic factors that are not necessarily reflective of our primary operations. The Company's results of operations and selected balance sheet items by segment are presented in the following tables. Three months ended June 30, 2022 Specialty Commercial International Life & Corporate (In millions) Eliminations Total Operating revenues Net earned premiums $ 794 $ 974 $ 269 $ 118 $ — $ — $ 2,155 Net investment income 100 113 14 201 4 — 432 Non-insurance warranty revenue 392 — — — — — 392 Other revenues — 4 1 1 1 (1) 6 Total operating revenues 1,286 1,091 284 320 5 (1) 2,985 Claims, benefits and expenses Net incurred claims and benefits 456 610 160 293 57 — 1,576 Policyholders’ dividends 2 5 — — — — 7 Amortization of deferred acquisition costs 162 156 56 — — — 374 Non-insurance warranty expense 367 — — — — — 367 Other insurance related expenses 81 134 30 29 1 — 275 Other expenses 12 11 13 2 45 (1) 82 Total claims, benefits and expenses 1,080 916 259 324 103 (1) 2,681 Core income (loss) before income tax 206 175 25 (4) (98) — 304 Income tax (expense) benefit on core income (loss) (45) (37) (7) 10 20 — (59) Core income (loss) $ 161 $ 138 $ 18 $ 6 $ (78) $ — 245 Net investment gains (losses) (59) Income tax (expense) benefit on net investment gains (losses) 19 Net investment gains (losses), after tax (40) Net income (loss) $ 205 Three months ended June 30, 2021 Specialty Commercial International Life & Corporate (In millions) Eliminations Total Operating revenues Net earned premiums $ 762 $ 881 $ 266 $ 126 $ — $ — $ 2,035 Net investment income 134 174 14 265 4 — 591 Non-insurance warranty revenue 359 — — — — — 359 Other revenues — 5 1 (1) 2 (1) 6 Total operating revenues 1,255 1,060 281 390 6 (1) 2,991 Claims, benefits and expenses Net incurred claims and benefits 439 588 159 322 31 — 1,539 Policyholders’ dividends 1 6 — — — — 7 Amortization of deferred acquisition costs 159 148 50 — — — 357 Non-insurance warranty expense 332 — — — — — 332 Other insurance related expenses 71 136 39 25 — — 271 Other expenses 12 11 (3) 2 40 (1) 61 Total claims, benefits and expenses 1,014 889 245 349 71 (1) 2,567 Core income (loss) before income tax 241 171 36 41 (65) — 424 Income tax (expense) benefit on core income (loss) (53) (34) (10) 2 12 — (83) Core income (loss) $ 188 $ 137 $ 26 $ 43 $ (53) $ — 341 Net investment gains (losses) 38 Income tax (expense) benefit on net investment gains (losses) (11) Net investment gains (losses), after tax 27 Net income (loss) $ 368 Six months ended June 30, 2022 Specialty Commercial International Life & Corporate (In millions) Eliminations Total Operating revenues Net earned premiums $ 1,566 $ 1,878 $ 533 $ 238 $ (1) $ — $ 4,214 Net investment income 203 231 28 413 5 — 880 Non-insurance warranty revenue 774 — — — — — 774 Other revenues 1 12 — — 3 (3) 13 Total operating revenues 2,544 2,121 561 651 7 (3) 5,881 Claims, benefits and expenses Net incurred claims and benefits 901 1,183 318 574 49 — 3,025 Policyholders’ dividends 3 10 — — — — 13 Amortization of deferred acquisition costs 319 304 95 — — — 718 Non-insurance warranty expense 721 — — — — — 721 Other insurance related expenses 162 264 77 60 3 — 566 Other expenses 25 18 14 5 86 (3) 145 Total claims, benefits and expenses 2,131 1,779 504 639 138 (3) 5,188 Core income (loss) before income tax 413 342 57 12 (131) — 693 Income tax (expense) benefit on core income (loss) (89) (72) (13) 17 25 — (132) Core income (loss) $ 324 $ 270 $ 44 $ 29 $ (106) $ — 561 Net investment gains (losses) (70) Income tax (expense) benefit on net investment gains (losses) 27 Net investment gains (losses), after tax (43) Net income (loss) $ 518 June 30, 2022 (In millions) Reinsurance receivables $ 1,502 $ 964 $ 365 $ 458 $ 2,485 $ — $ 5,774 Insurance receivables 1,097 1,751 389 3 (2) — 3,238 Deferred acquisition costs 375 314 103 — — — 792 Goodwill 117 — 28 — — — 145 Deferred non-insurance warranty acquisition expense 3,593 — — — — — 3,593 Insurance reserves Claim and claim adjustment expenses 6,861 8,954 2,307 3,670 2,767 — 24,559 Unearned premiums 3,093 2,428 650 118 — — 6,289 Future policy benefits — — — 10,926 — — 10,926 Deferred non-insurance warranty revenue 4,638 — — — — — 4,638 Six months ended June 30, 2021 Specialty Commercial International Life & Corporate (In millions) Eliminations Total Operating revenues Net earned premiums $ 1,497 $ 1,736 $ 518 $ 246 $ — $ — $ 3,997 Net investment income 251 322 28 484 10 — 1,095 Non-insurance warranty revenue 697 — — — — — 697 Other revenues — 10 1 — 3 (3) 11 Total operating revenues 2,445 2,068 547 730 13 (3) 5,800 Claims, benefits and expenses Net incurred claims and benefits 866 1,227 314 603 29 — 3,039 Policyholders’ dividends 2 11 — — — — 13 Amortization of deferred acquisition costs 313 301 102 — — — 716 Non-insurance warranty expense 643 — — — — — 643 Other insurance related expenses 141 251 74 50 10 — 526 Other expenses 23 20 (8) 4 82 (3) 118 Total claims, benefits and expenses 1,988 1,810 482 657 121 (3) 5,055 Core income (loss) before income tax 457 258 65 73 (108) — 745 Income tax (expense) benefit on core income (loss) (99) (52) (15) 6 19 — (141) Core income (loss) $ 358 $ 206 $ 50 $ 79 $ (89) $ — 604 Net investment gains (losses) 95 Income tax (expense) benefit on net investment gains (losses) (19) Net investment gains (losses), after tax 76 Net income (loss) $ 680 December 31, 2021 (In millions) Reinsurance receivables $ 1,200 $ 923 $ 381 $ 401 $ 2,579 $ — $ 5,484 Insurance receivables 1,136 1,488 340 6 4 — 2,974 Deferred acquisition costs 363 278 96 — — — 737 Goodwill 117 — 31 — — — 148 Deferred non-insurance warranty acquisition expense 3,476 — — — — — 3,476 Insurance reserves Claim and claim adjustment expenses 6,433 8,890 2,280 3,754 2,817 — 24,174 Unearned premiums 3,001 2,066 585 109 — — 5,761 Future policy benefits — — — 13,236 — — 13,236 Deferred non-insurance warranty revenue 4,503 — — — — — 4,503 The following table presents operating revenues by line of business for each reportable segment. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Specialty Management & Professional Liability $ 680 $ 693 $ 1,353 $ 1,360 Surety 162 155 310 297 Warranty & Alternative Risks 444 407 881 788 Specialty revenues 1,286 1,255 2,544 2,445 Commercial Middle Market 374 381 736 756 Construction 350 324 674 633 Small Business 143 143 281 269 Other Commercial 224 212 430 410 Commercial revenues 1,091 1,060 2,121 2,068 International Canada 91 87 179 166 Europe 118 115 238 226 Hardy 75 79 144 155 International revenues 284 281 561 547 Life & Group revenues 320 390 651 730 Corporate & Other revenues 5 6 7 13 Eliminations (1) (1) (3) (3) Total operating revenues 2,985 2,991 5,881 5,800 Net investment gains (losses) (59) 38 (70) 95 Total revenues $ 2,926 $ 3,029 $ 5,811 $ 5,895

Non-Insurance Revenues from Con

Non-Insurance Revenues from Contracts with Customers	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Non-Insurance Revenues from Contracts with Customers	Non-Insurance Revenues from Contracts with CustomersThe Company had deferred non-insurance warranty revenue balances of $4.6 billion and $4.5 billion reported in Deferred non-insurance warranty revenue as of June 30, 2022 and December 31, 2021. For the three and six months ended June 30, 2022, the Company recognized $0.3 billion and $0.7 billion of revenues that were included in the deferred revenue balance as of January 1, 2022. For the three and six months ended June 30, 2021, the Company recognized $0.3 billion and $0.6 billion of revenues that were included in the deferred revenue balance as of January 1, 2021. For the three and six months ended June 30, 2022 and 2021, Non-insurance warranty revenue recognized from performance obligations related to prior periods due to a change in estimate was not material. The Company expects to recognize approximately $0.7 billion of the deferred revenue in the remainder of 2022, $1.2 billion in 2023, $1.0 billion in 2024 and $1.7 billion thereafter.

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	The Condensed Consolidated Financial Statements include the accounts of CNA Financial Corporation (CNAF) and its subsidiaries. Collectively, CNAF and its subsidiaries are referred to as CNA or the Company. Loews Corporation (Loews) owned approximately 89.6% of the outstanding common stock of CNAF as of June 30, 2022.The accompanying Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). Intercompany amounts have been eliminated
Use of Estimates	The preparation of Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates
Accounting Standards Pending Adoption	Accounting Standards Pending Adoption In August 2018, the FASB issued ASU 2018-12 Targeted Improvements to the Accounting for Long-Duration Contracts . The updated accounting guidance requires changes to the measurement and disclosure of long-duration contracts. For the Company, this includes the long term care and fully-ceded single premium immediate annuity business. Entities will be required to review, and update if there is a change, cash flow assumptions (including morbidity and persistency) at least annually, and to update discount rate assumptions quarterly using an upper-medium grade fixed-income instrument yield. The effect of changes in cash flow assumptions will be recorded in the Company's results of operations and the effect of changes in discount rate assumptions will be recorded in Other comprehensive income. The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted, and may be applied using either a modified retrospective transition method or a full retrospective transition method. Financial statements for prior periods presented shall be adjusted to reflect the effects of applying the new accounting guidance. The Company will adopt the new guidance effective January 1, 2023, using the modified retrospective method applied as of the transition date of January 1, 2021. The Company will use a published spot rate curve constructed from A+, A and A- rated U.S. dollar denominated corporate bonds matched to the duration of the corresponding insurance liabilities, to calculate discount rates. The Company will group its long-duration contracts into calendar year cohorts based on the contract issue date and product line. Long term care contracts will be grouped separately from the Company’s fully-ceded single premium immediate annuity contracts. The most significant impact at the transition date will be the effect of updating the discount rate assumption to reflect an upper-medium grade fixed-income instrument yield, which will be partially offset by the de-recognition of Shadow Adjustments associated with long-duration contracts. The Company expects the net impact of these changes will be a $2.2 billion - $2.5 billion decrease in Accumulated other comprehensive income as of the transition date of January 1, 2021. There is a minimal transition impact expected to retained earnings. The requirement to review, and update if there is a change, cash flow assumptions at least annually is expected to change the pattern of earnings being recognized. Adoption will also significantly expand the Company’s disclosures, and will impact systems, processes, and controls. While the requirements of the new guidance represent a material change from existing GAAP, the new guidance will not impact capital and surplus under statutory accounting practices, cash flows, or the underlying economics of the business. The Company continues to make progress in connection with these matters and is in process of refining key accounting policy decisions, technology solutions and updates to internal controls associated with adoption of the new guidance. These in-progress activities include modifications of actuarial valuation systems, data sourcing, analytical procedures and reporting processes.
Earnings (Loss) Per Share	Earnings (Loss) Per ShareEarnings (loss) per share is based on weighted average number of outstanding common shares. Basic earnings (loss) per share excludes the impact of dilutive securities and is computed by dividing Net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments [Abstract]
Net investment income	The significant components of Net investment income are presented in the following table. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Fixed maturity securities $ 441 $ 425 $ 870 $ 853 Equity securities (11) 20 (9) 49 Limited partnership investments 6 146 24 189 Mortgage loans 12 15 27 29 Short term investments 2 — 2 — Trading portfolio — 2 1 7 Other — (1) — 1 Gross investment income 450 607 915 1,128 Investment expense (18) (16) (35) (33) Net investment income $ 432 $ 591 $ 880 $ 1,095
Net realized investment gains (losses)	Net investment gains (losses) are presented in the following table. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Net investment gains (losses): Fixed maturity securities: Gross gains $ 45 $ 51 $ 71 $ 109 Gross losses (60) (20) (88) (40) Net investment gains (losses) on fixed maturity securities (15) 31 (17) 69 Equity securities (71) 17 (109) 19 Derivatives 26 (12) 55 5 Short term investments and other 1 2 1 2 Net investment gains (losses) $ (59) $ 38 $ (70) $ 95
Debt securities, available-for-sale, allowance for credit loss	Accrued interest receivable on available-for-sale fixed maturity securities totaled $374 million, $369 million , and $374 million as of June 30, 2022, December 31, 2021 and June 30, 2021 and is excluded from the estimate of expected credit losses and the amortized cost basis in the tables included within this Note. (In millions) Corporate and other bonds Asset-backed Total Allowance for credit losses: Balance as of April 1, 2022 $ 12 $ 5 $ 17 Additions to the allowance for credit losses: Securities for which credit losses were not previously recorded — — — Available-for-sale securities accounted for as PCD assets — 3 3 Reductions to the allowance for credit losses: Securities sold during the period (realized) — — — Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Write-offs charged against the allowance 12 — 12 Recoveries of amounts previously written off — — — Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period — (3) (3) Balance as of June 30, 2022 $ — $ 5 $ 5 (In millions) Corporate and other bonds Asset-backed Total Allowance for credit losses: Balance as of April 1, 2021 $ 27 $ 16 $ 43 Additions to the allowance for credit losses: Securities for which credit losses were not previously recorded — — — Available-for-sale securities accounted for as PCD assets — 4 4 Reductions to the allowance for credit losses: Securities sold during the period (realized) — — — Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period (3) 1 (2) Balance as of June 30, 2021 $ 24 $ 21 $ 45 (In millions) Corporate and other bonds Asset-backed Total Allowance for credit losses: Balance as of January 1, 2022 $ 11 $ 7 $ 18 Additions to the allowance for credit losses: Securities for which credit losses were not previously recorded — — — Available-for-sale securities accounted for as PCD assets — 3 3 Reductions to the allowance for credit losses: Securities sold during the period (realized) — — — Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Write-offs charged against the allowance 12 — 12 Recoveries of amounts previously written off — — — Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period 1 (5) (4) Balance as of June 30, 2022 $ — $ 5 $ 5 (In millions) Corporate and other bonds Asset-backed Total Allowance for credit losses: Balance as of January 1, 2021 $ 23 $ 17 $ 40 Additions to the allowance for credit losses: Securities for which credit losses were not previously recorded 14 — 14 Available-for-sale securities accounted for as PCD assets 2 4 6 Reductions to the allowance for credit losses: Securities sold during the period (realized) 6 — 6 Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period (9) — (9) Balance as of June 30, 2021 $ 24 $ 21 $ 45
Components of net other than temporary impairment losses recognized in earnings by asset type	The table includes losses (gains) on securities with an intention to sell and changes in the allowance for credit losses on securities since acquisition date. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Fixed maturity securities available-for-sale: Corporate and other bonds $ 21 $ (2) $ 29 $ 5 Asset-backed (1) 1 1 — Impairment losses (gains) recognized in earnings $ 20 $ (1) $ 30 $ 5
Summary of fixed maturity securities	The following tables present a summary of fixed maturity securities. June 30, 2022 Cost or Gross Gross Allowance for Credit Losses Estimated (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 22,606 $ 499 $ 1,440 $ — $ 21,665 States, municipalities and political subdivisions 9,822 492 676 — 9,638 Asset-backed: Residential mortgage-backed 3,034 14 305 — 2,743 Commercial mortgage-backed 1,995 6 164 — 1,837 Other asset-backed 3,063 4 220 5 2,842 Total asset-backed 8,092 24 689 5 7,422 U.S. Treasury and obligations of government-sponsored enterprises 115 1 7 — 109 Foreign government 577 1 30 — 548 Redeemable preferred stock 3 — — — 3 Total fixed maturity securities available-for-sale 41,215 1,017 2,842 5 39,385 Total fixed maturity securities trading — — — — — Total fixed maturity securities $ 41,215 $ 1,017 $ 2,842 $ 5 $ 39,385 December 31, 2021 Cost or Gross Gross Allowance for Credit Losses Estimated (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 21,444 $ 2,755 $ 56 $ 11 $ 24,132 States, municipalities and political subdivisions 10,358 1,599 14 — 11,943 Asset-backed: Residential mortgage-backed 2,893 71 8 — 2,956 Commercial mortgage-backed 1,987 63 19 — 2,031 Other asset-backed 2,561 54 10 7 2,598 Total asset-backed 7,441 188 37 7 7,585 U.S. Treasury and obligations of government-sponsored enterprises 132 1 3 — 130 Foreign government 570 15 2 — 583 Redeemable preferred stock — — — — — Total fixed maturity securities available-for-sale 39,945 4,558 112 18 44,373 Total fixed maturity securities trading 7 — — — 7 Total fixed maturity securities $ 39,952 $ 4,558 $ 112 $ 18 $ 44,380
Securities in a gross unrealized loss position	The following tables present the estimated fair value and gross unrealized losses of fixed maturity securities in a gross unrealized loss position for which an allowance for credit loss has not been recorded, by the length of time in which the securities have continuously been in that position. Less than 12 Months 12 Months or Longer Total June 30, 2022 Estimated Gross Estimated Gross Estimated Gross (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 14,827 $ 1,366 $ 322 $ 74 $ 15,149 $ 1,440 States, municipalities and political subdivisions 4,121 666 32 10 4,153 676 Asset-backed: Residential mortgage-backed 2,374 305 3 — 2,377 305 Commercial mortgage-backed 1,552 143 149 21 1,701 164 Other asset-backed 2,354 214 85 6 2,439 220 Total asset-backed 6,280 662 237 27 6,517 689 U.S. Treasury and obligations of government-sponsored enterprises 82 6 3 1 85 7 Foreign government 436 28 23 2 459 30 Total $ 25,746 $ 2,728 $ 617 $ 114 $ 26,363 $ 2,842 Less than 12 Months 12 Months or Longer Total December 31, 2021 Estimated Gross Estimated Gross Estimated Gross (In millions) Fixed maturity securities available-for-sale: Corporate and other bonds $ 2,389 $ 48 $ 136 $ 8 $ 2,525 $ 56 States, municipalities and political subdivisions 730 14 — — 730 14 Asset-backed: Residential mortgage-backed 1,043 8 — — 1,043 8 Commercial mortgage-backed 527 7 167 12 694 19 Other asset-backed 840 10 62 — 902 10 Total asset-backed 2,410 25 229 12 2,639 37 U.S. Treasury and obligations of government-sponsored enterprises 69 3 5 — 74 3 Foreign government 97 2 — — 97 2 Total $ 5,695 $ 92 $ 370 $ 20 $ 6,065 $ 112 The following table presents the estimated fair value and gross unrealized losses of fixed maturity securities in a gross unrealized loss position for which an allowance for credit loss has not been recorded, by ratings distribution. June 30, 2022 December 31, 2021 (In millions) Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses U.S. Government, Government agencies and Government-sponsored enterprises $ 2,150 $ 223 $ 898 $ 8 AAA 1,232 205 368 6 AA 4,078 581 875 17 A 5,454 493 1,516 23 BBB 11,806 1,111 1,812 42 Non-investment grade 1,643 229 596 16 Total $ 26,363 $ 2,842 $ 6,065 $ 112
Contractual maturity	The following table presents available-for-sale fixed maturity securities by contractual maturity. June 30, 2022 December 31, 2021 (In millions) Cost or Estimated Cost or Estimated Due in one year or less $ 1,150 $ 1,153 $ 1,603 $ 1,624 Due after one year through five years 9,330 9,154 10,637 11,229 Due after five years through ten years 14,434 13,549 13,294 14,338 Due after ten years 16,301 15,529 14,411 17,182 Total $ 41,215 $ 39,385 $ 39,945 $ 44,373
Financing receivable credit quality indicators	The following table presents the amortized cost basis of mortgage loans for each credit quality indicator by year of origination. The primary credit quality indicators utilized are debt service coverage ratios (DSCR) and loan-to-value ratios (LTV). June 30, 2022 Mortgage Loans Amortized Cost Basis by Origination Year (1) (In millions) 2022 2021 2020 2019 2018 Prior Total DSCR ≥1.6x LTV less than 55% $ 9 $ 14 $ 112 $ 21 $ 54 $ 280 $ 490 LTV 55% to 65% — — — 8 — — 8 LTV greater than 65% 18 11 — — — — 29 DSCR 1.2x - 1.6x LTV less than 55% — 49 14 78 10 44 195 LTV 55% to 65% 28 — 24 — — 8 60 LTV greater than 65% 15 — — — — — 15 DSCR ≤1.2 LTV less than 55% — — — 52 — 17 69 LTV 55% to 65% — — — 55 — — 55 LTV greater than 65% 10 21 — 6 — 7 44 Total $ 80 $ 95 $ 150 $ 220 $ 64 $ 356 $ 965 (1) The values in the table above reflect DSCR on a standardized amortization period and LTV based on the most recent appraised values trended forward using changes in a commercial real estate price index.

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis are presented in the following tables. Corporate bonds and other includes obligations of the U.S. Treasury, government-sponsored enterprises, foreign governments and redeemable preferred stock. June 30, 2022 Total (In millions) Level 1 Level 2 Level 3 Assets Fixed maturity securities: Corporate bonds and other $ 118 $ 21,361 $ 846 $ 22,325 States, municipalities and political subdivisions — 9,592 46 9,638 Asset-backed — 6,781 641 7,422 Total fixed maturity securities 118 37,734 1,533 39,385 Equity securities: Common stock 188 — 34 222 Non-redeemable preferred stock 59 604 13 676 Total equity securities 247 604 47 898 Short term and other 932 35 — 967 Total assets $ 1,297 $ 38,373 $ 1,580 $ 41,250 Liabilities Other liabilities $ — $ (41) $ — $ (41) Total liabilities $ — $ (41) $ — $ (41) December 31, 2021 Total (In millions) Level 1 Level 2 Level 3 Assets Fixed maturity securities: Corporate bonds and other $ 140 $ 23,775 $ 937 $ 24,852 States, municipalities and political subdivisions — 11,887 56 11,943 Asset-backed — 7,029 556 7,585 Total fixed maturity securities 140 42,691 1,549 44,380 Equity securities: Common stock 220 — 13 233 Non-redeemable preferred stock 65 721 16 802 Total equity securities 285 721 29 1,035 Short term and other 1,798 74 — 1,872 Total assets $ 2,223 $ 43,486 $ 1,578 $ 47,287 Liabilities Other liabilities $ — $ 12 $ — $ 12 Total liabilities $ — $ 12 $ — $ 12
Table of reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs	The tables below present a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3). Level 3 (In millions) Corporate bonds and other States, municipalities and political subdivisions Asset-backed Equity securities Total Balance as of April 1, 2022 $ 915 $ 51 $ 604 $ 44 $ 1,614 Total realized and unrealized investment gains (losses): Reported in Net investment gains (losses) (1) — 3 (2) — Reported in Net investment income — — 5 (1) 4 Reported in Other comprehensive income (loss) (82) (5) (52) — (139) Total realized and unrealized investment gains (losses) (83) (5) (44) (3) (135) Purchases 51 — 92 — 143 Sales — — (2) (3) (5) Settlements (37) — (23) 9 (51) Transfers into Level 3 — — 14 — 14 Transfers out of Level 3 — — — — — Balance as of June 30, 2022 $ 846 $ 46 $ 641 $ 47 $ 1,580 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2022 recognized in Net income (loss) in the period $ — $ — $ — $ (3) $ (3) Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2022 recognized in Other comprehensive income (loss) in the period (81) (5) (52) — (138) Level 3 (In millions) Corporate bonds and other States, municipalities and political subdivisions Asset-backed Equity securities Total Balance as of April 1, 2021 $ 767 $ 44 $ 315 $ 29 $ 1,155 Total realized and unrealized investment gains (losses): Reported in Net investment gains (losses) 3 — — — 3 Reported in Net investment income — — 1 — 1 Reported in Other comprehensive income (loss) 16 2 4 — 22 Total realized and unrealized investment gains (losses) 19 2 5 — 26 Purchases 122 12 84 — 218 Sales (3) — — (4) (7) Settlements (22) (1) (10) — (33) Transfers into Level 3 — — 21 — 21 Transfers out of Level 3 — — (5) — (5) Balance as of June 30, 2021 $ 883 $ 57 $ 410 $ 25 $ 1,375 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2021 recognized in Net income (loss) in the period $ — $ — $ — $ — $ — Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2021 recognized in Other comprehensive income (loss) in the period 16 2 4 — 22 Level 3 (In millions) Corporate bonds and other States, municipalities and political subdivisions Asset-backed Equity securities Total Balance as of January 1, 2022 $ 937 $ 56 $ 556 $ 29 $ 1,578 Total realized and unrealized investment gains (losses): Reported in Net investment gains (losses) (2) — 5 (3) — Reported in Net investment income — — 6 3 9 Reported in Other comprehensive income (loss) (153) (10) (84) — (247) Total realized and unrealized investment gains (losses) (155) (10) (73) — (238) Purchases 118 — 232 12 362 Sales (5) — (2) (3) (10) Settlements (59) — (40) 9 (90) Transfers into Level 3 10 — 19 — 29 Transfers out of Level 3 — — (51) — (51) Balance as of June 30, 2022 $ 846 $ 46 $ 641 $ 47 $ 1,580 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2022 recognized in Net income (loss) in the period $ — $ — $ — $ (1) $ (1) Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2022 recognized in Other comprehensive income (loss) in the period (153) (10) (83) — (246) Level 3 (In millions) Corporate bonds and other States, municipalities and political subdivisions Asset-backed Equity securities Total Balance as of January 1, 2021 $ 770 $ 46 $ 308 $ 27 $ 1,151 Total realized and unrealized investment gains (losses): Reported in Net investment gains (losses) (10) — — 1 (9) Reported in Net investment income — — 3 1 4 Reported in Other comprehensive income (loss) (24) — (5) — (29) Total realized and unrealized investment gains (losses) (34) — (2) 2 (34) Purchases 164 12 114 — 290 Sales (3) — — (4) (7) Settlements (24) (1) (27) — (52) Transfers into Level 3 10 — 30 — 40 Transfers out of Level 3 — — (13) — (13) Balance as of June 30, 2021 $ 883 $ 57 $ 410 $ 25 $ 1,375 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2021 recognized in Net income (loss) in the period $ — $ — $ — $ 2 $ 2 Unrealized gains (losses) on Level 3 assets and liabilities held as of June 30, 2021 recognized in Other comprehensive income (loss) in the period (24) — (5) — (29)
Quantitative information about significant unobservable inputs in the fair value measurement of level 3 assets	The following tables present quantitative information about the significant unobservable inputs utilized by the Company in the fair value measurements of Level 3 assets. Valuations for assets and liabilities not presented in the tables below are primarily based on broker/dealer quotes for which there is a lack of transparency as to inputs used to develop the valuations. The quantitative detail of these unobservable inputs is neither provided nor reasonably available to the Company. The weighted average rate is calculated based on fair value. June 30, 2022 Estimated Fair Value Valuation Technique(s) Unobservable Input(s) Range Fixed maturity securities $ 1,117 Discounted cash flow Credit spread 1% - 9% (3%) December 31, 2021 Estimated Fair Value Valuation Technique(s) Unobservable Input(s) Range Fixed maturity securities $ 1,225 Discounted cash flow Credit spread 1% - 7% (2%)
Carrying amount and estimated fair value of financial instrument assets and liabilities not measured at fair value	The carrying amount and estimated fair value of the Company's financial assets and liabilities which are not measured at fair value on the Condensed Consolidated Balance Sheets are presented in the following tables. June 30, 2022 Carrying Estimated Fair Value (In millions) Level 1 Level 2 Level 3 Total Assets Mortgage loans $ 949 $ — $ — $ 915 $ 915 Liabilities Long term debt $ 2,780 $ — $ 2,654 $ — $ 2,654 December 31, 2021 Carrying Estimated Fair Value (In millions) Level 1 Level 2 Level 3 Total Assets Mortgage loans $ 973 $ — $ — $ 1,018 $ 1,018 Liabilities Long term debt $ 2,779 $ — $ 2,978 $ — $ 2,978

Claim and Claim Adjustment Ex_2

Claim and Claim Adjustment Expense Reserves (Tables)	6 Months Ended
	Jun. 30, 2022
Short-duration Insurance Contracts, Net Incurred Claim and Claim Adjustment Expenses [Line Items]
Schedule of liability for unpaid claims and claims adjustment expense	The following table presents a reconciliation between beginning and ending claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves of the Life & Group segment. For the six months ended June 30 (In millions) 2022 2021 Reserves, beginning of year: Gross $ 24,174 $ 22,706 Ceded 4,969 4,005 Net reserves, beginning of year 19,205 18,701 Reduction of net reserves due to Excess Workers' Compensation Loss Portfolio Transfer — (632) Net incurred claim and claim adjustment expenses: Provision for insured events of current year 2,974 2,930 Increase (decrease) in provision for insured events of prior years (69) (78) Amortization of discount 90 95 Total net incurred (1) 2,995 2,947 Net payments attributable to: Current year events (245) (317) Prior year events (2,330) (1,949) Total net payments (2,575) (2,266) Foreign currency translation adjustment and other (222) (5) Net reserves, end of period 19,403 18,745 Ceded reserves, end of period 5,156 4,735 Gross reserves, end of period $ 24,559 $ 23,480 (1) Total net incurred above does not agree to Insurance claims and policyholders' benefits as reflected on the Condensed Consolidated Statements of Operations due to amounts related to retroactive reinsurance deferred gain accounting, the loss on the Excess Workers' Compensation Loss Portfolio Transfer, uncollectible reinsurance and benefit expenses related to future policy benefits, which are not reflected in the table above.
Net prior year development	The following table presents development recorded for the Specialty, Commercial, International and Corporate & Other segments. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Pretax (favorable) unfavorable development: Specialty $ (10) $ (10) $ (20) $ (25) Commercial (22) — (24) — International (5) (1) (5) (1) Corporate & Other 64 40 64 40 Total pretax (favorable) unfavorable development $ 27 $ 29 $ 15 $ 14
Net prior year claim and allocated claim adjustment expense reserve development	The following table presents further detail of the development recorded for the International segment. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 (1) 2022 2021 (1) Pretax (favorable) unfavorable development: Commercial $ (4) $ — $ (4) $ — Specialty (1) (1) (1) (1) Other — — — — Total pretax (favorable) unfavorable development $ (5) $ (1) $ (5) $ (1) (1) Effective December 31, 2021 the International lines of business were consolidated to align with domestic operations. Prior period information has been conformed to the new line of business presentation.
Specialty
Short-duration Insurance Contracts, Net Incurred Claim and Claim Adjustment Expenses [Line Items]
Net prior year claim and allocated claim adjustment expense reserve development	The following table presents further detail of the development recorded for the Specialty segment. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Pretax (favorable) unfavorable development: Medical Professional Liability $ 1 $ — $ 9 $ 8 Other Professional Liability and Management Liability 13 10 13 10 Surety (19) (23) (28) (38) Warranty — — (9) (8) Other (5) 3 (5) 3 Total pretax (favorable) unfavorable development $ (10) $ (10) $ (20) $ (25)
Commercial
Short-duration Insurance Contracts, Net Incurred Claim and Claim Adjustment Expenses [Line Items]
Net prior year claim and allocated claim adjustment expense reserve development	The following table presents further detail of the development recorded for the Commercial segment. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Pretax (favorable) unfavorable development: Commercial Auto $ 21 $ 30 $ 21 $ 30 General Liability 41 — 41 — Workers' Compensation (82) (42) (84) (42) Property and Other (2) 12 (2) 12 Total pretax (favorable) unfavorable development $ (22) $ — $ (24) $ —

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Components of net periodic cost (benefit)	The components of net periodic pension cost (benefit) are presented in the following table. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Net periodic pension cost (benefit) Interest cost on projected benefit obligation $ 16 $ 16 $ 33 $ 31 Expected return on plan assets (38) (39) (76) (77) Amortization of net actuarial (gain) loss 8 11 15 23 Settlement loss — 1 — 1 Total net periodic pension cost (benefit) $ (14) $ (11) $ (28) $ (22) The following table indicates the line items in which the non-service cost (benefit) is presented in the Condensed Consolidated Statements of Operations. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Non-Service Cost (Benefit): Insurance claims and policyholder's benefits $ (4) $ (3) $ (8) $ (6) Other operating expenses (10) (8) (20) (16) Total net periodic pension cost (benefit) $ (14) $ (11) $ (28) $ (22)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) by Component (Tables)	6 Months Ended
	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss) by Component	The tables below display the changes in Accumulated other comprehensive income (loss) by component. (In millions) Net unrealized gains (losses) on investments with an allowance for credit losses Net unrealized gains (losses) on other investments Pension and postretirement benefits Cumulative foreign currency translation adjustment Total Balance as of April 1, 2022 $ (6) $ (572) $ (598) $ (127) $ (1,303) Other comprehensive income (loss) before reclassifications (1) (1,360) — (68) (1,429) Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $3, $1, $— and $3 1 (14) (6) — (19) Other comprehensive income (loss) net of tax (expense) benefit of $—, $356, $(1), $— and $355 (2) (1,346) 6 (68) (1,410) Balance as of June 30, 2022 $ (8) $ (1,918) $ (592) $ (195) $ (2,713) (In millions) Net unrealized gains (losses) on investments with an allowance for credit losses Net unrealized gains (losses) on other investments Pension and postretirement benefits Cumulative foreign currency translation adjustment Total Balance as of April 1, 2021 $ — $ 1,118 $ (839) $ (92) $ 187 Other comprehensive income (loss) before reclassifications 1 323 — 12 336 Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $—, $(7), $3, $— and $(4) 1 23 (10) — 14 Other comprehensive income (loss) net of tax (expense) benefit of $—, $(75), $(3), $— and $(78) — 300 10 12 322 Balance as of June 30, 2021 $ — $ 1,418 $ (829) $ (80) $ 509 (In millions) Net unrealized gains (losses) on investments with an allowance for credit losses Net unrealized gains (losses) on other investments Pension and postretirement benefits Cumulative foreign currency translation adjustment Total Balance as of January 1, 2022 $ (2) $ 1,039 $ (604) $ (113) $ 320 Other comprehensive income (loss) before reclassifications (5) (2,972) — (82) (3,059) Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $(1), $4, $3, $— and $6 1 (15) (12) — (26) Other comprehensive income (loss) net of tax (expense) benefit of $1, $780, $(3), $— and $778 (6) (2,957) 12 (82) (3,033) Balance as of June 30, 2022 $ (8) $ (1,918) $ (592) $ (195) $ (2,713) (In millions) Net unrealized gains (losses) on investments with an allowance for credit losses Net unrealized gains (losses) on other investments Pension and postretirement benefits Cumulative foreign currency translation adjustment Total Balance as of January 1, 2021 $ — $ 1,745 $ (848) $ (94) $ 803 Other comprehensive income (loss) before reclassifications (2) (270) — 14 (258) Amounts reclassified from accumulated other comprehensive income (loss) net of tax (expense) benefit of $1, $(15), $5, $— and $(9) (2) 57 (19) — 36 Other comprehensive income (loss) net of tax (expense) benefit of $—, $87, $(5), $— and $82 — (327) 19 14 (294) Balance as of June 30, 2021 $ — $ 1,418 $ (829) $ (80) $ 509
Reclassification out of Accumulated Other Comprehensive Income	Amounts reclassified from Accumulated other comprehensive income (loss) shown above are reported in Net income (loss) as follows: Component of AOCI Condensed Consolidated Statements of Operations Line Item Affected by Reclassifications Net unrealized gains (losses) on investments with an allowance for credit losses and Net unrealized gains (losses) on other investments Net investment gains (losses) Pension and postretirement benefits Other operating expenses and Insurance claims and policyholders' benefits

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Significant components of the Company's continuing operations and selected balance sheet items	The Company's results of operations and selected balance sheet items by segment are presented in the following tables. Three months ended June 30, 2022 Specialty Commercial International Life & Corporate (In millions) Eliminations Total Operating revenues Net earned premiums $ 794 $ 974 $ 269 $ 118 $ — $ — $ 2,155 Net investment income 100 113 14 201 4 — 432 Non-insurance warranty revenue 392 — — — — — 392 Other revenues — 4 1 1 1 (1) 6 Total operating revenues 1,286 1,091 284 320 5 (1) 2,985 Claims, benefits and expenses Net incurred claims and benefits 456 610 160 293 57 — 1,576 Policyholders’ dividends 2 5 — — — — 7 Amortization of deferred acquisition costs 162 156 56 — — — 374 Non-insurance warranty expense 367 — — — — — 367 Other insurance related expenses 81 134 30 29 1 — 275 Other expenses 12 11 13 2 45 (1) 82 Total claims, benefits and expenses 1,080 916 259 324 103 (1) 2,681 Core income (loss) before income tax 206 175 25 (4) (98) — 304 Income tax (expense) benefit on core income (loss) (45) (37) (7) 10 20 — (59) Core income (loss) $ 161 $ 138 $ 18 $ 6 $ (78) $ — 245 Net investment gains (losses) (59) Income tax (expense) benefit on net investment gains (losses) 19 Net investment gains (losses), after tax (40) Net income (loss) $ 205 Three months ended June 30, 2021 Specialty Commercial International Life & Corporate (In millions) Eliminations Total Operating revenues Net earned premiums $ 762 $ 881 $ 266 $ 126 $ — $ — $ 2,035 Net investment income 134 174 14 265 4 — 591 Non-insurance warranty revenue 359 — — — — — 359 Other revenues — 5 1 (1) 2 (1) 6 Total operating revenues 1,255 1,060 281 390 6 (1) 2,991 Claims, benefits and expenses Net incurred claims and benefits 439 588 159 322 31 — 1,539 Policyholders’ dividends 1 6 — — — — 7 Amortization of deferred acquisition costs 159 148 50 — — — 357 Non-insurance warranty expense 332 — — — — — 332 Other insurance related expenses 71 136 39 25 — — 271 Other expenses 12 11 (3) 2 40 (1) 61 Total claims, benefits and expenses 1,014 889 245 349 71 (1) 2,567 Core income (loss) before income tax 241 171 36 41 (65) — 424 Income tax (expense) benefit on core income (loss) (53) (34) (10) 2 12 — (83) Core income (loss) $ 188 $ 137 $ 26 $ 43 $ (53) $ — 341 Net investment gains (losses) 38 Income tax (expense) benefit on net investment gains (losses) (11) Net investment gains (losses), after tax 27 Net income (loss) $ 368 Six months ended June 30, 2022 Specialty Commercial International Life & Corporate (In millions) Eliminations Total Operating revenues Net earned premiums $ 1,566 $ 1,878 $ 533 $ 238 $ (1) $ — $ 4,214 Net investment income 203 231 28 413 5 — 880 Non-insurance warranty revenue 774 — — — — — 774 Other revenues 1 12 — — 3 (3) 13 Total operating revenues 2,544 2,121 561 651 7 (3) 5,881 Claims, benefits and expenses Net incurred claims and benefits 901 1,183 318 574 49 — 3,025 Policyholders’ dividends 3 10 — — — — 13 Amortization of deferred acquisition costs 319 304 95 — — — 718 Non-insurance warranty expense 721 — — — — — 721 Other insurance related expenses 162 264 77 60 3 — 566 Other expenses 25 18 14 5 86 (3) 145 Total claims, benefits and expenses 2,131 1,779 504 639 138 (3) 5,188 Core income (loss) before income tax 413 342 57 12 (131) — 693 Income tax (expense) benefit on core income (loss) (89) (72) (13) 17 25 — (132) Core income (loss) $ 324 $ 270 $ 44 $ 29 $ (106) $ — 561 Net investment gains (losses) (70) Income tax (expense) benefit on net investment gains (losses) 27 Net investment gains (losses), after tax (43) Net income (loss) $ 518 June 30, 2022 (In millions) Reinsurance receivables $ 1,502 $ 964 $ 365 $ 458 $ 2,485 $ — $ 5,774 Insurance receivables 1,097 1,751 389 3 (2) — 3,238 Deferred acquisition costs 375 314 103 — — — 792 Goodwill 117 — 28 — — — 145 Deferred non-insurance warranty acquisition expense 3,593 — — — — — 3,593 Insurance reserves Claim and claim adjustment expenses 6,861 8,954 2,307 3,670 2,767 — 24,559 Unearned premiums 3,093 2,428 650 118 — — 6,289 Future policy benefits — — — 10,926 — — 10,926 Deferred non-insurance warranty revenue 4,638 — — — — — 4,638 Six months ended June 30, 2021 Specialty Commercial International Life & Corporate (In millions) Eliminations Total Operating revenues Net earned premiums $ 1,497 $ 1,736 $ 518 $ 246 $ — $ — $ 3,997 Net investment income 251 322 28 484 10 — 1,095 Non-insurance warranty revenue 697 — — — — — 697 Other revenues — 10 1 — 3 (3) 11 Total operating revenues 2,445 2,068 547 730 13 (3) 5,800 Claims, benefits and expenses Net incurred claims and benefits 866 1,227 314 603 29 — 3,039 Policyholders’ dividends 2 11 — — — — 13 Amortization of deferred acquisition costs 313 301 102 — — — 716 Non-insurance warranty expense 643 — — — — — 643 Other insurance related expenses 141 251 74 50 10 — 526 Other expenses 23 20 (8) 4 82 (3) 118 Total claims, benefits and expenses 1,988 1,810 482 657 121 (3) 5,055 Core income (loss) before income tax 457 258 65 73 (108) — 745 Income tax (expense) benefit on core income (loss) (99) (52) (15) 6 19 — (141) Core income (loss) $ 358 $ 206 $ 50 $ 79 $ (89) $ — 604 Net investment gains (losses) 95 Income tax (expense) benefit on net investment gains (losses) (19) Net investment gains (losses), after tax 76 Net income (loss) $ 680 December 31, 2021 (In millions) Reinsurance receivables $ 1,200 $ 923 $ 381 $ 401 $ 2,579 $ — $ 5,484 Insurance receivables 1,136 1,488 340 6 4 — 2,974 Deferred acquisition costs 363 278 96 — — — 737 Goodwill 117 — 31 — — — 148 Deferred non-insurance warranty acquisition expense 3,476 — — — — — 3,476 Insurance reserves Claim and claim adjustment expenses 6,433 8,890 2,280 3,754 2,817 — 24,174 Unearned premiums 3,001 2,066 585 109 — — 5,761 Future policy benefits — — — 13,236 — — 13,236 Deferred non-insurance warranty revenue 4,503 — — — — — 4,503
Revenues by line of business	The following table presents operating revenues by line of business for each reportable segment. Periods ended June 30 Three Months Six Months (In millions) 2022 2021 2022 2021 Specialty Management & Professional Liability $ 680 $ 693 $ 1,353 $ 1,360 Surety 162 155 310 297 Warranty & Alternative Risks 444 407 881 788 Specialty revenues 1,286 1,255 2,544 2,445 Commercial Middle Market 374 381 736 756 Construction 350 324 674 633 Small Business 143 143 281 269 Other Commercial 224 212 430 410 Commercial revenues 1,091 1,060 2,121 2,068 International Canada 91 87 179 166 Europe 118 115 238 226 Hardy 75 79 144 155 International revenues 284 281 561 547 Life & Group revenues 320 390 651 730 Corporate & Other revenues 5 6 7 13 Eliminations (1) (1) (3) (3) Total operating revenues 2,985 2,991 5,881 5,800 Net investment gains (losses) (59) 38 (70) 95 Total revenues $ 2,926 $ 3,029 $ 5,811 $ 5,895

General (Narrative) (Details)

General (Narrative) (Details) - USD ($) $ in Billions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2018-12 [Member]
Minimum | Pro Forma | Accumulated Other Comprehensive (Loss) Income | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in accumulated other comprehensive income		$ 2.2
Maximum | Pro Forma | Accumulated Other Comprehensive (Loss) Income | Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in accumulated other comprehensive income		$ 2.5
CNAF Consolidated | Loews
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Noncontrolling interest, ownership percentage by parent (as a percent)	89.60%

Earnings (Loss) Per Share (Narr

Earnings (Loss) Per Share (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	1,000,000	1,000,000	1,000,000	1,000,000
Antidilutive securities excluded from computation of earnings (in shares)	10,000	1,000	5,000	3,000
Treasury stock, shares, acquired (in shares)			445,000	377,615
Purchase of treasury stock			$ 21	$ 18

Investments (Net investment inc

Investments (Net investment income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Investment Income [Line Items]
Gross investment income	$ 450	$ 607	$ 915	$ 1,128
Investment expense	(18)	(16)	(35)	(33)
Net investment income	432	591	880	1,095
Fixed maturity securities
Net Investment Income [Line Items]
Gross investment income	441	425	870	853
Equity securities
Net Investment Income [Line Items]
Gross investment income	(11)	20	(9)	49
Limited partnership investments
Net Investment Income [Line Items]
Gross investment income	6	146	24	189
Mortgage loans
Net Investment Income [Line Items]
Gross investment income	12	15	27	29
Short term investments
Net Investment Income [Line Items]
Gross investment income	2	0	2	0
Trading portfolio
Net Investment Income [Line Items]
Gross investment income	0	2	1	7
Other
Net Investment Income [Line Items]
Gross investment income	$ 0	$ (1)	$ 0	$ 1

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Gain (Loss) on Securities [Line Items]
Reduction of net unrealized gains on investments included in AOCI due to shadow adjustments	$ 482		$ 482		$ 2,477
Notional value	285		285		270
Other liabilities	41		41		(12)
Commitments to purchase or fund privately placed debt securities	1,455		1,455
Commitments to sell various privately placed debt securities	25		25
Common Stock
Gain (Loss) on Securities [Line Items]
Equity securities, FV-NI, gain (loss)	(22)	$ 9	(23)	$ 21
Non-redeemable preferred stock
Gain (Loss) on Securities [Line Items]
Equity securities, FV-NI, gain (loss)	(70)	15	(108)	15
Mortgage loans
Gain (Loss) on Securities [Line Items]
Financing receivable, accrued interest, after allowance for credit loss	3		3
Fixed maturity securities
Gain (Loss) on Securities [Line Items]
Debt securities, available-for-sale, accrued interest, after allowance for credit loss	$ 374	$ 374	$ 374	$ 374	$ 369

Investments (Net realized inves

Investments (Net realized investment gains (losses)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fixed maturity securities:
Gross gains	$ 45	$ 51	$ 71	$ 109
Gross losses	(60)	(20)	(88)	(40)
Net investment gains (losses) on fixed maturity securities	(15)	31	(17)	69
Equity securities	(71)	17	(109)	19
Derivatives	26	(12)	55	5
Short term investments and other	1	2	1	2
Net investment gains (losses)	$ (59)	$ 38	$ (70)	$ 95

Investments (Allowance on avail

Investments (Allowance on available-for-sale securities with credit impairments and PCD assets activity) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Allowance for credit losses:
Balance, beginning of period	$ 17	$ 43	$ 18	$ 40
Additions to the allowance for credit losses:
Securities for which credit losses were not previously recorded	0	0	0	14
Available-for-sale securities accounted for as PCD assets	3	4	3	6
Reductions to the allowance for credit losses:
Securities sold during the period (realized)	0	0	0	6
Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis	0	0	0	0
Write-offs charged against the allowance	12	0	12	0
Recoveries of amounts previously written off	0	0	0	0
Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period	(3)	(2)	(4)	(9)
Balance, end of period	5	45	5	45
Corporate and other bonds
Allowance for credit losses:
Balance, beginning of period	12	27	11	23
Additions to the allowance for credit losses:
Securities for which credit losses were not previously recorded	0	0	0	14
Available-for-sale securities accounted for as PCD assets	0	0	0	2
Reductions to the allowance for credit losses:
Securities sold during the period (realized)	0	0	0	6
Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis	0	0	0	0
Write-offs charged against the allowance	12	0	12	0
Recoveries of amounts previously written off	0	0	0	0
Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period	0	(3)	1	(9)
Balance, end of period	0	24	0	24
Asset-backed
Allowance for credit losses:
Balance, beginning of period	5	16	7	17
Additions to the allowance for credit losses:
Securities for which credit losses were not previously recorded	0	0	0	0
Available-for-sale securities accounted for as PCD assets	3	4	3	4
Reductions to the allowance for credit losses:
Securities sold during the period (realized)	0	0	0	0
Intent to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis	0	0	0	0
Write-offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Additional increases or (decreases) to the allowance for credit losses on securities that had an allowance recorded in a previous period	(3)	1	(5)	0
Balance, end of period	$ 5	$ 21	$ 5	$ 21

Investments (Components of othe

Investments (Components of other-than-temporary impairment losses recognized in earnings) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Securities, Available-for-sale [Line Items]
Impairment losses (gains) recognized in earnings	$ 20	$ (1)	$ 30	$ 5
Corporate and other bonds
Debt Securities, Available-for-sale [Line Items]
Impairment losses (gains) recognized in earnings	21	(2)	29	5
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Impairment losses (gains) recognized in earnings	$ (1)	$ 1	$ 1	$ 0

Investments (Summary of fixed m

Investments (Summary of fixed maturity and equity securities) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Fixed maturity securities available-for-sale:
Gross Unrealized Gains	$ 1,017		$ 4,558
Gross Unrealized Losses	2,842		112
Allowance for Credit Losses	5	$ 17	18	$ 45	$ 43	$ 40
Estimated Fair Value	39,385		44,373
Total fixed maturity securities trading
Debt securities, amortized cost	41,215		39,952
Total fixed maturity securities	39,385		44,380
Corporate and other bonds
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	22,606		21,444
Gross Unrealized Gains	499		2,755
Gross Unrealized Losses	1,440		56
Allowance for Credit Losses	0	12	11	24	27	23
Estimated Fair Value	21,665		24,132
Total fixed maturity securities trading
Total fixed maturity securities	22,325		24,852
States, municipalities and political subdivisions
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	9,822		10,358
Gross Unrealized Gains	492		1,599
Gross Unrealized Losses	676		14
Allowance for Credit Losses	0		0
Estimated Fair Value	9,638		11,943
Total fixed maturity securities trading
Total fixed maturity securities	9,638		11,943
Asset-backed
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	8,092		7,441
Gross Unrealized Gains	24		188
Gross Unrealized Losses	689		37
Allowance for Credit Losses	5	$ 5	7	$ 21	$ 16	$ 17
Estimated Fair Value	7,422		7,585
Total fixed maturity securities trading
Total fixed maturity securities	7,422		7,585
Residential mortgage-backed
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	3,034		2,893
Gross Unrealized Gains	14		71
Gross Unrealized Losses	305		8
Allowance for Credit Losses	0		0
Estimated Fair Value	2,743		2,956
Commercial mortgage-backed
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	1,995		1,987
Gross Unrealized Gains	6		63
Gross Unrealized Losses	164		19
Allowance for Credit Losses	0		0
Estimated Fair Value	1,837		2,031
Other asset-backed
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	3,063		2,561
Gross Unrealized Gains	4		54
Gross Unrealized Losses	220		10
Allowance for Credit Losses	5		7
Estimated Fair Value	2,842		2,598
Fixed maturity securities
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	41,215		39,945
Gross Unrealized Gains	1,017		4,558
Gross Unrealized Losses	2,842		112
Allowance for Credit Losses	5		18
Estimated Fair Value	39,385		44,373
U.S. Treasury and obligations of government-sponsored enterprises
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	115		132
Gross Unrealized Gains	1		1
Gross Unrealized Losses	7		3
Allowance for Credit Losses	0		0
Estimated Fair Value	109		130
Foreign government
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	577		570
Gross Unrealized Gains	1		15
Gross Unrealized Losses	30		2
Allowance for Credit Losses	0		0
Estimated Fair Value	548		583
Redeemable preferred stock
Fixed maturity securities available-for-sale:
Cost or Amortized Cost	3		0
Gross Unrealized Gains	0		0
Gross Unrealized Losses	0		0
Allowance for Credit Losses	0		0
Estimated Fair Value	3		0
Total fixed maturity securities trading
Total fixed maturity securities trading
Cost or amortized cost, trading securities	0		7
Estimated fair value, trading securities	$ 0		$ 7

Investments (Securities in a gr

Investments (Securities in a gross unrealized loss position) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	$ 25,746	$ 5,695
Gross Unrealized Losses, Less than 12 Months	2,728	92
Estimated Fair Value, 12 Months or Longer	617	370
Gross Unrealized Losses, 12 Months or Longer	114	20
Estimated Fair Value, Total	26,363	6,065
Gross Unrealized Losses, Total	2,842	112
Corporate and other bonds
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	14,827	2,389
Gross Unrealized Losses, Less than 12 Months	1,366	48
Estimated Fair Value, 12 Months or Longer	322	136
Gross Unrealized Losses, 12 Months or Longer	74	8
Estimated Fair Value, Total	15,149	2,525
Gross Unrealized Losses, Total	1,440	56
States, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	4,121	730
Gross Unrealized Losses, Less than 12 Months	666	14
Estimated Fair Value, 12 Months or Longer	32	0
Gross Unrealized Losses, 12 Months or Longer	10	0
Estimated Fair Value, Total	4,153	730
Gross Unrealized Losses, Total	676	14
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	6,280	2,410
Gross Unrealized Losses, Less than 12 Months	662	25
Estimated Fair Value, 12 Months or Longer	237	229
Gross Unrealized Losses, 12 Months or Longer	27	12
Estimated Fair Value, Total	6,517	2,639
Gross Unrealized Losses, Total	689	37
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	2,374	1,043
Gross Unrealized Losses, Less than 12 Months	305	8
Estimated Fair Value, 12 Months or Longer	3	0
Gross Unrealized Losses, 12 Months or Longer	0	0
Estimated Fair Value, Total	2,377	1,043
Gross Unrealized Losses, Total	305	8
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	1,552	527
Gross Unrealized Losses, Less than 12 Months	143	7
Estimated Fair Value, 12 Months or Longer	149	167
Gross Unrealized Losses, 12 Months or Longer	21	12
Estimated Fair Value, Total	1,701	694
Gross Unrealized Losses, Total	164	19
Other asset-backed
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	2,354	840
Gross Unrealized Losses, Less than 12 Months	214	10
Estimated Fair Value, 12 Months or Longer	85	62
Gross Unrealized Losses, 12 Months or Longer	6	0
Estimated Fair Value, Total	2,439	902
Gross Unrealized Losses, Total	220	10
U.S. Treasury and obligations of government-sponsored enterprises
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	82	69
Gross Unrealized Losses, Less than 12 Months	6	3
Estimated Fair Value, 12 Months or Longer	3	5
Gross Unrealized Losses, 12 Months or Longer	1	0
Estimated Fair Value, Total	85	74
Gross Unrealized Losses, Total	7	3
Foreign government
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value, Less than 12 months	436	97
Gross Unrealized Losses, Less than 12 Months	28	2
Estimated Fair Value, 12 Months or Longer	23	0
Gross Unrealized Losses, 12 Months or Longer	2	0
Estimated Fair Value, Total	459	97
Gross Unrealized Losses, Total	$ 30	$ 2

Investments (Securities in a _2

Investments (Securities in a gross unrealized loss position by ratings) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	$ 26,363	$ 6,065
Gross Unrealized Losses	2,842	112
U.S. Government, Government agencies and Government-sponsored enterprises
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	2,150	898
Gross Unrealized Losses	223	8
AAA
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	1,232	368
Gross Unrealized Losses	205	6
AA
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	4,078	875
Gross Unrealized Losses	581	17
A
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	5,454	1,516
Gross Unrealized Losses	493	23
BBB
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	11,806	1,812
Gross Unrealized Losses	1,111	42
Non-investment grade
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	1,643	596
Gross Unrealized Losses	$ 229	$ 16

Investments (Contractual maturi

Investments (Contractual maturity) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments [Abstract]
Due in one year or less, cost or amortized cost	$ 1,150	$ 1,603
Due after one year through five years, cost or amortized cost	9,330	10,637
Due after five years through ten years, cost or amortized cost	14,434	13,294
Due after ten years, cost or amortized cost	16,301	14,411
Cost or Amortized Cost	41,215	39,945
Due in one year or less, estimated fair value	1,153	1,624
Due after one year through five years, estimated fair value	9,154	11,229
Due after five years through ten years, estimated fair value	13,549	14,338
Due after ten years, estimated fair value	15,529	17,182
Estimated Fair Value	$ 39,385	$ 44,373

Investments (Credit quality ind

Investments (Credit quality indicator) (Details) - Mortgage loans $ in Millions	Jun. 30, 2022 USD ($)
Debt Securities, Available-for-sale [Line Items]
2022	$ 80
2021	95
2020	150
2019	220
2018	64
Prior	356
Total	965
DSCR ≥1.6x | LTV less than 55%
Debt Securities, Available-for-sale [Line Items]
2022	9
2021	14
2020	112
2019	21
2018	54
Prior	280
Total	490
DSCR ≥1.6x | LTV 55% to 65%
Debt Securities, Available-for-sale [Line Items]
2022	0
2021	0
2020	0
2019	8
2018	0
Prior	0
Total	8
DSCR ≥1.6x | LTV greater than 65%
Debt Securities, Available-for-sale [Line Items]
2022	18
2021	11
2020	0
2019	0
2018	0
Prior	0
Total	29
DSCR 1.2x - 1.6x | LTV less than 55%
Debt Securities, Available-for-sale [Line Items]
2022	0
2021	49
2020	14
2019	78
2018	10
Prior	44
Total	195
DSCR 1.2x - 1.6x | LTV 55% to 65%
Debt Securities, Available-for-sale [Line Items]
2022	28
2021	0
2020	24
2019	0
2018	0
Prior	8
Total	60
DSCR 1.2x - 1.6x | LTV greater than 65%
Debt Securities, Available-for-sale [Line Items]
2022	15
2021	0
2020	0
2019	0
2018	0
Prior	0
Total	15
DSCR ≤1.2 | LTV less than 55%
Debt Securities, Available-for-sale [Line Items]
2022	0
2021	0
2020	0
2019	52
2018	0
Prior	17
Total	69
DSCR ≤1.2 | LTV 55% to 65%
Debt Securities, Available-for-sale [Line Items]
2022	0
2021	0
2020	0
2019	55
2018	0
Prior	0
Total	55
DSCR ≤1.2 | LTV greater than 65%
Debt Securities, Available-for-sale [Line Items]
2022	10
2021	21
2020	0
2019	6
2018	0
Prior	7
Total	$ 44

Fair Value (Assets and liabilit

Fair Value (Assets and liabilities measured at fair value on a recurring basis) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fixed maturity securities:
Fixed maturity securities	$ 39,385	$ 44,380
Equity securities:
Equity securities	898	1,035
Short term and other	967	1,872
Total assets	41,250	47,287
Other liabilities	(41)	12
Total liabilities	(41)	12
Corporate and other bonds
Fixed maturity securities:
Fixed maturity securities	22,325	24,852
States, municipalities and political subdivisions
Fixed maturity securities:
Fixed maturity securities	9,638	11,943
Asset-backed
Fixed maturity securities:
Fixed maturity securities	7,422	7,585
Common Stock
Equity securities:
Equity securities	222	233
Non-redeemable preferred stock
Equity securities:
Equity securities	676	802
Level 1
Fixed maturity securities:
Fixed maturity securities	118	140
Equity securities:
Equity securities	247	285
Short term and other	932	1,798
Total assets	1,297	2,223
Other liabilities	0	0
Total liabilities	0	0
Level 1 | Corporate and other bonds
Fixed maturity securities:
Fixed maturity securities	118	140
Level 1 | States, municipalities and political subdivisions
Fixed maturity securities:
Fixed maturity securities	0	0
Level 1 | Asset-backed
Fixed maturity securities:
Fixed maturity securities	0	0
Level 1 | Common Stock
Equity securities:
Equity securities	188	220
Level 1 | Non-redeemable preferred stock
Equity securities:
Equity securities	59	65
Level 2
Fixed maturity securities:
Fixed maturity securities	37,734	42,691
Equity securities:
Equity securities	604	721
Short term and other	35	74
Total assets	38,373	43,486
Other liabilities	(41)	12
Total liabilities	(41)	12
Level 2 | Corporate and other bonds
Fixed maturity securities:
Fixed maturity securities	21,361	23,775
Level 2 | States, municipalities and political subdivisions
Fixed maturity securities:
Fixed maturity securities	9,592	11,887
Level 2 | Asset-backed
Fixed maturity securities:
Fixed maturity securities	6,781	7,029
Level 2 | Common Stock
Equity securities:
Equity securities	0	0
Level 2 | Non-redeemable preferred stock
Equity securities:
Equity securities	604	721
Level 3
Fixed maturity securities:
Fixed maturity securities	1,533	1,549
Equity securities:
Equity securities	47	29
Short term and other	0	0
Total assets	1,580	1,578
Other liabilities	0	0
Total liabilities	0	0
Level 3 | Corporate and other bonds
Fixed maturity securities:
Fixed maturity securities	846	937
Level 3 | States, municipalities and political subdivisions
Fixed maturity securities:
Fixed maturity securities	46	56
Level 3 | Asset-backed
Fixed maturity securities:
Fixed maturity securities	641	556
Level 3 | Common Stock
Equity securities:
Equity securities	34	13
Level 3 | Non-redeemable preferred stock
Equity securities:
Equity securities	$ 13	$ 16

Fair Value (Table of reconcilia

Fair Value (Table of reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning, Assets	$ 1,614	$ 1,155	$ 1,578	$ 1,151
Reported in Other comprehensive income (loss)	(139)	22	(247)	(29)
Total realized and unrealized investment gains (losses)	(135)	26	(238)	(34)
Purchases	143	218	362	290
Sales	(5)	(7)	(10)	(7)
Settlements	(51)	(33)	(90)	(52)
Transfers into Level 3	14	21	29	40
Transfers out of Level 3	0	(5)	(51)	(13)
Balance, Ending, Assets	1,580	1,375	1,580	1,375
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Net income (loss) in the period	(3)	0	(1)	2
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Other comprehensive income (loss) in the period	(138)	22	(246)	(29)
Corporate and other bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning, Assets	915	767	937	770
Reported in Other comprehensive income (loss)	(82)	16	(153)	(24)
Total realized and unrealized investment gains (losses)	(83)	19	(155)	(34)
Purchases	51	122	118	164
Sales	0	(3)	(5)	(3)
Settlements	(37)	(22)	(59)	(24)
Transfers into Level 3	0	0	10	10
Transfers out of Level 3	0	0	0	0
Balance, Ending, Assets	846	883	846	883
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Net income (loss) in the period	0	0	0	0
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Other comprehensive income (loss) in the period	(81)	16	(153)	(24)
States, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning, Assets	51	44	56	46
Reported in Other comprehensive income (loss)	(5)	2	(10)	0
Total realized and unrealized investment gains (losses)	(5)	2	(10)	0
Purchases	0	12	0	12
Sales	0	0	0	0
Settlements	0	(1)	0	(1)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Balance, Ending, Assets	46	57	46	57
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Net income (loss) in the period	0	0	0	0
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Other comprehensive income (loss) in the period	(5)	2	(10)	0
Asset-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning, Assets	604	315	556	308
Reported in Other comprehensive income (loss)		4	(84)	(5)
Total realized and unrealized investment gains (losses)	(44)	5	(73)	(2)
Purchases	92	84	232	114
Sales	(2)	0	(2)	0
Settlements	(23)	(10)	(40)	(27)
Transfers into Level 3	14	21	19	30
Transfers out of Level 3	0	(5)	(51)	(13)
Balance, Ending, Assets	641	410	641	410
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Net income (loss) in the period	0	0	0	0
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Other comprehensive income (loss) in the period	(52)	4	(83)	(5)
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning, Assets	44	29	29	27
Reported in Other comprehensive income (loss)	0	0	0	0
Total realized and unrealized investment gains (losses)	(3)	0	0	2
Purchases	0	0	12	0
Sales	(3)	(4)	(3)	(4)
Settlements	9	0	9	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Balance, Ending, Assets	47	25	47	25
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Net income (loss) in the period	(3)	0	(1)	2
Unrealized gains (losses) on Level 3 assets and liabilities recognized in Other comprehensive income (loss) in the period	0	0	0	0
Reported in Net investment gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment gains (losses)	0	3	0	(9)
Reported in Net investment gains (losses) | Corporate and other bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment gains (losses)	(1)	3	(2)	(10)
Reported in Net investment gains (losses) | States, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment gains (losses)	0	0	0	0
Reported in Net investment gains (losses) | Asset-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment gains (losses)	3	0	5	0
Reported in Net investment gains (losses) | Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment gains (losses)	(2)	0	(3)	1
Reported in Net investment income
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment income	4	1	9	4
Reported in Net investment income | Corporate and other bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment income	0	0	0	0
Reported in Net investment income | States, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment income	0	0	0	0
Reported in Net investment income | Asset-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment income	5	1	6	3
Reported in Other comprehensive income (loss)	(52)
Reported in Net investment income | Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reported in Net investment income	$ (1)	$ 0	$ 3	$ 1

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Other invested assets overseas deposit	$ 64	$ 74

Fair Value (Quantitative inform

Fair Value (Quantitative information about significant unobservable inputs in the fair value measurement of level 3 assets) (Details) $ in Millions	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Estimated fair value	$ 41,250	$ 47,287
Fixed maturity securities | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Estimated fair value	$ 1,117	$ 1,225
Credit spread | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt securities, available-for-sale, measurement Input	0.01	0.01
Credit spread | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt securities, available-for-sale, measurement Input	0.09	0.07
Credit spread | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Debt securities, available-for-sale, measurement Input	0.03	0.02

Fair Value (Carrying amount and

Fair Value (Carrying amount and estimated fair value of financial instrument assets and liabilities which are not measured at fair value) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets
Mortgage loans	$ 949	$ 973
Liabilities
Long term debt	2,780	2,779
Carrying Amount
Assets
Mortgage loans	949	973
Liabilities
Long term debt	2,780	2,779
Estimated Fair Value
Assets
Mortgage loans	915	1,018
Liabilities
Long term debt	2,654	2,978
Level 1 | Estimated Fair Value
Assets
Mortgage loans	0	0
Liabilities
Long term debt	0	0
Level 2 | Estimated Fair Value
Assets
Mortgage loans	0	0
Liabilities
Long term debt	2,654	2,978
Level 3 | Estimated Fair Value
Assets
Mortgage loans	915	1,018
Liabilities
Long term debt	$ 0	$ 0

Claim and Claim Adjustment Ex_3

Claim and Claim Adjustment Expense Reserves (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2010
Liability for Claims and Claims Adjustment Expense [Line Items]
Unusual or infrequent item, or both, net of insurance proceeds	$ 37	$ 54	$ 57	$ 179
Pretax (favorable) unfavorable premium development, excluding Life & Group	27	29	15	14
Retroactive reinsurance benefit recognized	11	12	23	22
Corporate & Other
Liability for Claims and Claims Adjustment Expense [Line Items]
Pretax (favorable) unfavorable premium development, excluding Life & Group	64	$ 40	64	$ 40
Asbestos and Environmental Reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Net A&EP claim and allocated claim adjustment expense reserves ceded to NICO						$ 1,600
Aggregate limit under A&EP Loss Portfolio Transfer						4,000
A&EP claim and allocated claim adjustment expense reserves ceded under existing third party reinsurance contracts transferred to NICO under A&EP Loss Portfolio Transfer						1,200
Reinsurance premium paid to NICO under A&EP Loss Portfolio Transfer						2,000
Net reinsurance receivables transferred to NICO under A&EP Loss Portfolio Transfer						215
Total consideration paid to NICO under AEP Loss Portfolio Transfer						$ 2,200
Cumulative amounts ceded under AEP Loss Portfolio Transfer	3,400		3,400		$ 3,400
Deferred reinsurance benefit yet to be recognized	406		406		$ 429
Fair value of collateral trust account established by NICO under A&EP Loss Portfolio Transfer	$ 2,400		$ 2,400

Claim and Claim Adjustment Ex_4

Claim and Claim Adjustment Expense Reserves (Reconciliation of claim and claim adjustment expense reserves) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Reserves, beginning of year:
Gross	$ 24,174	$ 22,706
Ceded	4,969	4,005
Net reserves, beginning of year	19,205	18,701
Reduction of net reserves due to Excess Workers' Compensation Loss Portfolio Transfer	0	(632)
Net incurred claim and claim adjustment expenses:
Provision for insured events of current year	2,974	2,930
Increase (decrease) in provision for insured events of prior years	(69)	(78)
Amortization of discount	90	95
Total net incurred	2,995	2,947
Net payments attributable to:
Current year events	(245)	(317)
Prior year events	(2,330)	(1,949)
Total net payments	(2,575)	(2,266)
Foreign currency translation adjustment and other	(222)	(5)
Net reserves, end of period	19,403	18,745
Ceded reserves, end of period	5,156	4,735
Gross reserves, end of period	$ 24,559	$ 23,480

Claim and Claim Adjustment Ex_5

Claim and Claim Adjustment Expense Reserves (Net prior year development) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Pretax (favorable) unfavorable premium development, excluding Life & Group	$ 27	$ 29	$ 15	$ 14
Specialty
Segment Reporting Information [Line Items]
Pretax (favorable) unfavorable premium development, excluding Life & Group	(10)	(10)	(20)	(25)
Commercial
Segment Reporting Information [Line Items]
Pretax (favorable) unfavorable premium development, excluding Life & Group	(22)	0	(24)	0
International
Segment Reporting Information [Line Items]
Pretax (favorable) unfavorable premium development, excluding Life & Group	(5)	(1)	(5)	(1)
Corporate & Other
Segment Reporting Information [Line Items]
Pretax (favorable) unfavorable premium development, excluding Life & Group	$ 64	$ 40	$ 64	$ 40

Claim and Claim Adjustment Ex_6

Claim and Claim Adjustment Expense Reserves (Specialty - Net prior year claim and allocated claim adjustment expense reserve development) (Details) - Specialty - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Medical Professional Liability	$ 1	$ 0	$ 9	$ 8
Other Professional Liability and Management Liability	13	10	13	10
Surety	(19)	(23)	(28)	(38)
Warranty	0	0	(9)	(8)
Other	(5)	3	(5)	3
Total pretax (favorable) unfavorable development	$ (10)	$ (10)	$ (20)	$ (25)

Claim and Claim Adjustment Ex_7

Claim and Claim Adjustment Expense Reserves (Commercial - Net prior year claim and allocated claim adjustment expense reserve development) (Details) - Commercial - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Commercial Auto	$ 21	$ 30	$ 21	$ 30
General Liability	41	0	41	0
Workers' Compensation	(82)	(42)	(84)	(42)
Property and Other	(2)	12	(2)	12
Total pretax (favorable) unfavorable development	$ (22)	$ 0	$ (24)	$ 0

Claim and Claim Adjustment Ex_8

Claim and Claim Adjustment Expense Reserves (International - Net prior year claim and allocated claim adjustment expense reserve development) (Details) - International - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Commercial	$ (4)	$ 0	$ (4)	$ 0
Specialty	(1)	(1)	(1)	(1)
Other	0	0	0	0
Total pretax (favorable) unfavorable development	$ (5)	$ (1)	$ (5)	$ (1)

Legal Proceedings, Contingenc_2

Legal Proceedings, Contingencies and Guarantees (Narrative) (Details) $ in Billions	Jun. 30, 2022 USD ($)
Guarantee Obligations
Legal Proceedings, Commitments and Contingencies, and Guarantees [Line Items]
Guarantor obligations, maximum exposure, undiscounted	$ 1.6

Benefit Plans (Components of ne

Benefit Plans (Components of net periodic cost (benefit)) (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation	$ 16	$ 16	$ 33	$ 31
Expected return on plan assets	(38)	(39)	(76)	(77)
Amortization of net actuarial (gain) loss	8	11	15	23
Settlement loss	0	1	0	1
Total net periodic pension cost (benefit)	$ (14)	$ (11)	$ (28)	$ (22)

Benefit Plans (Summary of non-s

Benefit Plans (Summary of non-service cost (benefit) in the condensed consolidated statements of operations (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total net periodic pension cost (benefit)	$ (14)	$ (11)	$ (28)	$ (22)
Insurance claims and policyholder's benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Non-Service Cost (Benefit)	(4)	(3)	(8)	(6)
Other operating expenses
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Non-Service Cost (Benefit)	$ (10)	$ (8)	$ (20)	$ (16)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) by Component (Schedule of accumulated other comprehensive income (loss) by component) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total stockholder's equity at beginning of period			$ 12,809
Other comprehensive income (loss) before reclassifications	$ (1,429)	$ 336	(3,059)	$ (258)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(19)	14	(26)	36
Other comprehensive income (loss) after tax (expense) benefit	(1,410)	322	(3,033)	(294)
Total stockholder's equity at end of period	9,512	12,668	9,512	12,668
Reclassification from AOCI, tax	3	(4)	6	(9)
Tax (expense) benefit on other comprehensive income (loss)	355	(78)	778	82
Accumulated other comprehensive income (loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total stockholder's equity at beginning of period	(1,303)	187	320	803
Total stockholder's equity at end of period	(2,713)	509	(2,713)	509
Net unrealized gains (losses) on investments with an allowance for credit losses | Net unrealized gains (losses) on investments with an allowance for credit losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total stockholder's equity at beginning of period	(6)	0	(2)	0
Other comprehensive income (loss) before reclassifications	(1)	1	(5)	(2)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	1	1	1	(2)
Other comprehensive income (loss) after tax (expense) benefit	(2)	0	(6)	0
Total stockholder's equity at end of period	(8)	0	(8)	0
Reclassification from AOCI, tax	(1)	0	1	(1)
Tax (expense) benefit on other comprehensive income (loss)	0	0	1	0
Net unrealized gains (losses) on investments with an allowance for credit losses | Net unrealized gains (losses) on other investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total stockholder's equity at beginning of period	(572)	1,118	1,039	1,745
Other comprehensive income (loss) before reclassifications	(1,360)	323	(2,972)	(270)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(14)	23	(15)	57
Other comprehensive income (loss) after tax (expense) benefit	(1,346)	300	(2,957)	(327)
Total stockholder's equity at end of period	(1,918)	1,418	(1,918)	1,418
Reclassification from AOCI, tax	3	(7)	4	(15)
Tax (expense) benefit on other comprehensive income (loss)	356	(75)	780	87
Pension and postretirement benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total stockholder's equity at beginning of period	(598)	(839)	(604)	(848)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(6)	(10)	(12)	(19)
Other comprehensive income (loss) after tax (expense) benefit	6	10	12	19
Total stockholder's equity at end of period	(592)	(829)	(592)	(829)
Reclassification from AOCI, tax	1	3	3	5
Tax (expense) benefit on other comprehensive income (loss)	(1)	(3)	(3)	(5)
Cumulative foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total stockholder's equity at beginning of period	(127)	(92)	(113)	(94)
Other comprehensive income (loss) before reclassifications	(68)	12	(82)	14
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	0	0	0	0
Other comprehensive income (loss) after tax (expense) benefit	(68)	12	(82)	14
Total stockholder's equity at end of period	(195)	(80)	(195)	(80)
Reclassification from AOCI, tax	0	0	0	0
Tax (expense) benefit on other comprehensive income (loss)	$ 0	$ 0	$ 0	$ 0

Business Segments (Narrative) (

Business Segments (Narrative) (Details)	6 Months Ended
	Jun. 30, 2022 segment
Core Segments - Specialty, Commercial and International
Segment Reporting Information [Line Items]
Number of operating segments	3
Non-Core Segments - Life & Group and Corporate & Other
Segment Reporting Information [Line Items]
Number of operating segments	2

Business Segments (Income state

Business Segments (Income statement information) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating revenues
Net earned premiums	$ 2,155	$ 2,035	$ 4,214	$ 3,997
Net investment income	432	591	880	1,095
Non-insurance warranty revenue	392	359	774	697
Other revenues	6	6	13	11
Total operating revenues	2,985	2,991	5,881	5,800
Claims, Benefits and Expenses
Net incurred claims and benefits	1,576	1,539	3,025	3,039
Policyholders’ dividends	7	7	13	13
Amortization of deferred acquisition costs	374	357	718	716
Non-insurance warranty expense	367	332	721	643
Other insurance related expenses	275	271	566	526
Other expenses	82	61	145	118
Total claims, benefits and expenses	2,681	2,567	5,188	5,055
Core income (loss) before income tax	304	424	693	745
Income tax (expense) benefit on core income (loss)	(59)	(83)	(132)	(141)
Core income (loss)	245	341	561	604
Net investment gains (losses)	(59)	38	(70)	95
Income tax (expense) benefit on net investment gains (losses)	19	(11)	27	(19)
Net investment gains (losses), after tax	(40)	27	(43)	76
Net income (loss)	205	368	518	680
Operating Segments | Specialty
Operating revenues
Net earned premiums	794	762	1,566	1,497
Net investment income	100	134	203	251
Non-insurance warranty revenue	392	359	774	697
Other revenues	0	0	1	0
Total operating revenues	1,286	1,255	2,544	2,445
Claims, Benefits and Expenses
Net incurred claims and benefits	456	439	901	866
Policyholders’ dividends	2	1	3	2
Amortization of deferred acquisition costs	162	159	319	313
Non-insurance warranty expense	367	332	721	643
Other insurance related expenses	81	71	162	141
Other expenses	12	12	25	23
Total claims, benefits and expenses	1,080	1,014	2,131	1,988
Core income (loss) before income tax	206	241	413	457
Income tax (expense) benefit on core income (loss)	(45)	(53)	(89)	(99)
Core income (loss)	161	188	324	358
Operating Segments | Commercial
Operating revenues
Net earned premiums	974	881	1,878	1,736
Net investment income	113	174	231	322
Non-insurance warranty revenue	0	0	0	0
Other revenues	4	5	12	10
Total operating revenues	1,091	1,060	2,121	2,068
Claims, Benefits and Expenses
Net incurred claims and benefits	610	588	1,183	1,227
Policyholders’ dividends	5	6	10	11
Amortization of deferred acquisition costs	156	148	304	301
Non-insurance warranty expense	0	0	0	0
Other insurance related expenses	134	136	264	251
Other expenses	11	11	18	20
Total claims, benefits and expenses	916	889	1,779	1,810
Core income (loss) before income tax	175	171	342	258
Income tax (expense) benefit on core income (loss)	(37)	(34)	(72)	(52)
Core income (loss)	138	137	270	206
Operating Segments | International
Operating revenues
Net earned premiums	269	266	533	518
Net investment income	14	14	28	28
Non-insurance warranty revenue	0	0	0	0
Other revenues	1	1	0	1
Total operating revenues	284	281	561	547
Claims, Benefits and Expenses
Net incurred claims and benefits	160	159	318	314
Policyholders’ dividends	0	0	0	0
Amortization of deferred acquisition costs	56	50	95	102
Non-insurance warranty expense	0	0	0	0
Other insurance related expenses	30	39	77	74
Other expenses	13	(3)	14	(8)
Total claims, benefits and expenses	259	245	504	482
Core income (loss) before income tax	25	36	57	65
Income tax (expense) benefit on core income (loss)	(7)	(10)	(13)	(15)
Core income (loss)	18	26	44	50
Operating Segments | Life & Group
Operating revenues
Net earned premiums	118	126	238	246
Net investment income	201	265	413	484
Non-insurance warranty revenue	0	0	0	0
Other revenues	1	(1)	0	0
Total operating revenues	320	390	651	730
Claims, Benefits and Expenses
Net incurred claims and benefits	293	322	574	603
Policyholders’ dividends	0	0	0	0
Amortization of deferred acquisition costs	0	0	0	0
Non-insurance warranty expense	0	0	0	0
Other insurance related expenses	29	25	60	50
Other expenses	2	2	5	4
Total claims, benefits and expenses	324	349	639	657
Core income (loss) before income tax	(4)	41	12	73
Income tax (expense) benefit on core income (loss)	10	2	17	6
Core income (loss)	6	43	29	79
Operating Segments | Corporate & Other
Operating revenues
Net earned premiums	0	0	(1)	0
Net investment income	4	4	5	10
Non-insurance warranty revenue	0	0	0	0
Other revenues	1	2	3	3
Total operating revenues	5	6	7	13
Claims, Benefits and Expenses
Net incurred claims and benefits	57	31	49	29
Policyholders’ dividends	0	0	0	0
Amortization of deferred acquisition costs	0	0	0	0
Non-insurance warranty expense	0	0	0	0
Other insurance related expenses	1	0	3	10
Other expenses	45	40	86	82
Total claims, benefits and expenses	103	71	138	121
Core income (loss) before income tax	(98)	(65)	(131)	(108)
Income tax (expense) benefit on core income (loss)	20	12	25	19
Core income (loss)	(78)	(53)	(106)	(89)
Eliminations
Operating revenues
Net earned premiums	0	0	0	0
Net investment income	0	0	0	0
Non-insurance warranty revenue	0	0	0	0
Other revenues	(1)	(1)	(3)	(3)
Total operating revenues	(1)	(1)	(3)	(3)
Claims, Benefits and Expenses
Net incurred claims and benefits	0	0	0	0
Policyholders’ dividends	0	0	0	0
Amortization of deferred acquisition costs	0	0	0	0
Non-insurance warranty expense	0	0	0	0
Other insurance related expenses	0	0	0	0
Other expenses	(1)	(1)	(3)	(3)
Total claims, benefits and expenses	(1)	(1)	(3)	(3)
Core income (loss) before income tax	0	0	0	0
Income tax (expense) benefit on core income (loss)	0	0	0	0
Core income (loss)	$ 0	$ 0	$ 0	$ 0

Business Segments (Balance shee

Business Segments (Balance sheet information) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Reinsurance receivables	$ 5,774	$ 5,484
Insurance receivables	3,238	2,974
Deferred acquisition costs	792	737
Goodwill	145	148
Deferred non-insurance warranty acquisition expense	3,593	3,476
Insurance reserves
Claim and claim adjustment expenses	24,559	24,174
Unearned premiums	6,289	5,761
Future policy benefits	10,926	13,236
Deferred non-insurance warranty revenue	4,638	4,503
Operating Segments | Specialty
Segment Reporting Information [Line Items]
Reinsurance receivables	1,502	1,200
Insurance receivables	1,097	1,136
Deferred acquisition costs	375	363
Goodwill	117	117
Deferred non-insurance warranty acquisition expense	3,593	3,476
Insurance reserves
Claim and claim adjustment expenses	6,861	6,433
Unearned premiums	3,093	3,001
Future policy benefits	0	0
Deferred non-insurance warranty revenue	4,638	4,503
Operating Segments | Commercial
Segment Reporting Information [Line Items]
Reinsurance receivables	964	923
Insurance receivables	1,751	1,488
Deferred acquisition costs	314	278
Goodwill	0	0
Deferred non-insurance warranty acquisition expense	0	0
Insurance reserves
Claim and claim adjustment expenses	8,954	8,890
Unearned premiums	2,428	2,066
Future policy benefits	0	0
Deferred non-insurance warranty revenue	0	0
Operating Segments | International
Segment Reporting Information [Line Items]
Reinsurance receivables	365	381
Insurance receivables	389	340
Deferred acquisition costs	103	96
Goodwill	28	31
Deferred non-insurance warranty acquisition expense	0	0
Insurance reserves
Claim and claim adjustment expenses	2,307	2,280
Unearned premiums	650	585
Future policy benefits	0	0
Deferred non-insurance warranty revenue	0	0
Operating Segments | Life & Group
Segment Reporting Information [Line Items]
Reinsurance receivables	458	401
Insurance receivables	3	6
Deferred acquisition costs	0	0
Goodwill	0	0
Deferred non-insurance warranty acquisition expense	0	0
Insurance reserves
Claim and claim adjustment expenses	3,670	3,754
Unearned premiums	118	109
Future policy benefits	10,926	13,236
Deferred non-insurance warranty revenue	0	0
Operating Segments | Corporate & Other
Segment Reporting Information [Line Items]
Reinsurance receivables	2,485	2,579
Insurance receivables	(2)	4
Deferred acquisition costs	0	0
Goodwill	0	0
Deferred non-insurance warranty acquisition expense	0	0
Insurance reserves
Claim and claim adjustment expenses	2,767	2,817
Unearned premiums	0	0
Future policy benefits	0	0
Deferred non-insurance warranty revenue	0	0
Eliminations
Segment Reporting Information [Line Items]
Reinsurance receivables	0	0
Insurance receivables	0	0
Deferred acquisition costs	0	0
Goodwill	0	0
Deferred non-insurance warranty acquisition expense	0	0
Insurance reserves
Claim and claim adjustment expenses	0	0
Unearned premiums	0	0
Future policy benefits	0	0
Deferred non-insurance warranty revenue	$ 0	$ 0

Business Segments (Revenues by

Business Segments (Revenues by line of business) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total revenues	$ 2,926	$ 3,029	$ 5,811	$ 5,895
Total operating revenues	2,985	2,991	5,881	5,800
Net investment gains (losses)	(59)	38	(70)	95
Operating Segments | Specialty
Total revenues	1,286	1,255	2,544	2,445
Operating Segments | Commercial
Total revenues	1,091	1,060	2,121	2,068
Operating Segments | International
Total revenues	284	281	561	547
Operating Segments | Life & Group
Total revenues	320	390	651	730
Operating Segments | Corporate & Other
Total revenues	5	6	7	13
Eliminations
Total revenues	(1)	(1)	(3)	(3)
Management & Professional Liability | Operating Segments | Specialty
Total revenues	680	693	1,353	1,360
Surety | Operating Segments | Specialty
Total revenues	162	155	310	297
Warranty & Alternative Risks | Operating Segments | Specialty
Total revenues	444	407	881	788
Middle Market | Operating Segments | Commercial
Total revenues	374	381	736	756
Construction | Operating Segments | Commercial
Total revenues	350	324	674	633
Small Business | Operating Segments | Commercial
Total revenues	143	143	281	269
Other Commercial | Operating Segments | Commercial
Total revenues	224	212	430	410
Canada | Operating Segments | International
Total revenues	91	87	179	166
Europe | Operating Segments | International
Total revenues	118	115	238	226
Hardy | Operating Segments | International
Total revenues	$ 75	$ 79	$ 144	$ 155

Non-Insurance Revenues from C_2

Non-Insurance Revenues from Contracts with Customers (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred non-insurance warranty revenue	$ 4,638		$ 4,638		$ 4,503
Contract with customer, liability, revenue recognized	$ 300	$ 300	$ 700	$ 600

Non-Insurance Revenues from C_3

Non-Insurance Revenues from Contracts with Customers (Performance obligation) (Details) $ in Billions	Jun. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 0.7
Remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1.2
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1.7
Remaining performance obligation, expected timing of satisfaction, period