The Travelers Companies, Inc. (TRV) 10-Q 19 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 14, 2022
Cover [Abstract]
Document type	10-Q
Document quarterly report	true
Document period end date	Mar. 31, 2022
Document transition report	false
Entity file number	001-10898
Registrant name	Travelers Companies, Inc.
Entity incorporation, state	MN
Entity tax identification number	41-0518860
Entity address, address line one	485 Lexington Avenue
Entity address, city	New York
Entity address, state	NY
Entity address, postal zip code	10017
City area code	917
Local phone number	778-6000
Title of 12(b) security	Common stock, without par value
Trading symbol	TRV
Security exchange name	NYSE
Entity current reporting status	Yes
Entity interactive data current	Yes
Filer category	Large Accelerated Filer
Entity small business	false
Entity emerging growth company	false
Entity shell company	false
Common stock shares outstanding		239,961,002
Central index key	0000086312
Amendment flag	false
Current fiscal year end date	--12-31
Document fiscal year focus	2022
Document fiscal period focus	Q1

Consolidated Statement of Incom

Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Premiums	$ 8,014	$ 7,386
Net investment income	637	701
Fee income	103	101
Net realized investment gains (losses)	(23)	44
Other revenues	78	81
Total revenues	8,809	8,313
Claims and expenses
Claims and claim adjustment expenses	5,039	4,970
Amortization of deferred acquisition costs	1,310	1,207
General and administrative expenses	1,191	1,163
Interest expense	87	82
Total claims and expenses	7,627	7,422
Income before income taxes	1,182	891
Income tax expense	164	158
Net income	$ 1,018	$ 733
Net income per share
Basic (in dollars per share)	$ 4.20	$ 2.89
Diluted (in dollars per share)	$ 4.15	$ 2.87
Weighted average number of common shares outstanding
Basic (in shares)	240.9	252.1
Diluted (in shares)	243.7	254.1
Cash dividends declared per common share (in dollars per share)	$ 0.88	$ 0.85

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,018	$ 733
Other comprehensive loss
Changes in net unrealized gains (losses) on investment securities having no credit losses recognized in the consolidated statement of income	(4,829)	(1,596)
Changes in net unrealized gains (losses) on investment securities having credit losses recognized in the consolidated statement of income	(1)	0
Net changes in benefit plan assets and obligations	11	25
Net changes in unrealized foreign currency translation	2	26
Other comprehensive loss before income taxes	(4,817)	(1,545)
Income tax benefit	(1,022)	(334)
Other comprehensive loss, net of taxes	(3,795)	(1,211)
Comprehensive loss	$ (2,777)	$ (478)

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited at March 31, 2022) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets
Fixed maturities, available for sale, at fair value (amortized cost $76,158 and $74,751; allowance for expected credit losses of $4 and $3)	$ 74,386	$ 77,810
Equity securities, at fair value (cost $761 and $749)	880	893
Real estate investments	975	979
Short-term securities	3,467	3,836
Other investments	3,956	3,857
Total investments	83,664	87,375
Cash	752	761
Investment income accrued	570	615
Premiums receivable (net of allowance for expected credit losses of $89 and $107)	8,593	8,085
Reinsurance recoverables (net of allowance for estimated uncollectible reinsurance of $135 and $141)	8,734	8,452
Ceded unearned premiums	1,266	902
Deferred acquisition costs	2,645	2,542
Deferred taxes	662	0
Contractholder receivables (net of allowance for expected credit losses of $19 and $21)	3,901	3,890
Goodwill	4,001	4,008
Other intangible assets	301	306
Other assets	3,503	3,530
Total assets	118,592	120,466
Liabilities
Claims and claim adjustment expense reserves	57,572	56,907
Unearned premium reserves	17,193	16,469
Contractholder payables	3,920	3,911
Payables for reinsurance premiums	694	384
Deferred taxes	0	289
Debt	7,291	7,290
Other liabilities	6,391	6,329
Total liabilities	93,061	91,579
Shareholders’ equity
Common stock (1,750.0 shares authorized; 240.0 and 241.2 shares issued and outstanding)	24,348	24,154
Retained earnings	42,359	41,555
Accumulated other comprehensive income (loss)	(2,602)	1,193
Treasury stock, at cost (544.8 and 541.5 shares)	(38,574)	(38,015)
Total shareholders’ equity	25,531	28,887
Total liabilities and shareholders’ equity	$ 118,592	$ 120,466

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parentheticals (Unaudited at March 31, 2022) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fixed maturities, available for sale, amortized cost	$ 76,158	$ 74,751
Fixed maturities, available for sale, allowance for expected credit losses	4	3
Equity securities, cost	761	749
Premiums receivable, allowance for expected credit losses	89	107
Reinsurance recoverables, allowance for estimated uncollectible reinsurance	135	141
Contractholder receivables, allowance for expected credit losses	$ 19	$ 21
Common stock, shares authorized (in shares)	1,750	1,750
Common stock, shares issued (in shares)	240	241.2
Common stock, shares outstanding (in shares)	240	241.2
Treasury stock, at cost (in shares)	544.8	541.5

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common stock [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss), net of tax [Member]	Treasury stock, at cost [Member]	Common shares outstanding [Member]
Balance, beginning of period at Dec. 31, 2020		$ 23,743	$ 38,771	$ 2,502	$ (35,815)
Shareholders' Equity [Roll Forward]
Employee share-based compensation		108
Compensation amortization under share-based plans and other changes		54
Net income	$ 733		733
Dividends			(216)
Other			(3)
Other comprehensive loss	(1,211)			(1,211)
Treasury stock acquired — share repurchase authorizations					(356)
Net shares acquired related to employee share-based compensation plans					(41)
Balance, end of period at Mar. 31, 2021	28,269	23,905	39,285	1,291	(36,212)
Balance, beginning of year (in shares) at Dec. 31, 2020						252.4
Common shares outstanding
Treasury stock acquired - share repurchase authorizations (in shares)						(2.4)
Net shares issued under employee share-based compensation plans (in shares)						1.5
Balance, end of period (in shares) at Mar. 31, 2021						251.5
Balance, beginning of period at Dec. 31, 2021	28,887	24,154	41,555	1,193	(38,015)
Shareholders' Equity [Roll Forward]
Employee share-based compensation		135
Compensation amortization under share-based plans and other changes		59
Net income	1,018		1,018
Dividends			(214)
Other			0
Other comprehensive loss	(3,795)			(3,795)
Treasury stock acquired — share repurchase authorizations	(500)				(500)
Net shares acquired related to employee share-based compensation plans	(59)				(59)
Balance, end of period at Mar. 31, 2022	$ 25,531	$ 24,348	$ 42,359	$ (2,602)	$ (38,574)
Balance, beginning of year (in shares) at Dec. 31, 2021	241.2					241.2
Common shares outstanding
Treasury stock acquired - share repurchase authorizations (in shares)	(2.9)					(2.9)
Net shares issued under employee share-based compensation plans (in shares)						1.7
Balance, end of period (in shares) at Mar. 31, 2022	240					240

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 1,018	$ 733
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized investment (gains) losses	23	(44)
Depreciation and amortization	234	235
Deferred federal income tax expense	40	56
Amortization of deferred acquisition costs	1,310	1,207
Equity in income from other investments	(118)	(200)
Premiums receivable	(509)	(333)
Reinsurance recoverables	(282)	12
Deferred acquisition costs	(1,413)	(1,258)
Claims and claim adjustment expense reserves	679	777
Unearned premium reserves	727	509
Other operating activities	(443)	(504)
Net cash provided by operating activities	1,266	1,190
Cash flows from investing activities
Proceeds from maturities of fixed maturities	1,879	2,064
Proceeds from sales of investments:
Fixed maturities	1,044	1,238
Equity securities	63	25
Other investments	81	79
Purchases of investments:
Fixed maturities	(4,409)	(4,754)
Equity securities	(63)	(19)
Real estate investments	(9)	(5)
Other investments	(135)	(97)
Net sales of short-term securities	367	524
Securities transactions in the course of settlement	613	269
Acquisitions, net of cash acquired	(4)	(38)
Other investing activities	(84)	(60)
Net cash used in investing activities	(657)	(774)
Cash flows from financing activities
Treasury stock acquired — share repurchase authorizations	(500)	(356)
Treasury stock acquired — net employee share-based compensation	(59)	(41)
Dividends paid to shareholders	(213)	(214)
Issuance of common stock — employee share options	159	134
Net cash used in financing activities	(613)	(477)
Effect of exchange rate changes on cash	(5)	3
Net decrease in cash	(9)	(58)
Cash at beginning of year	761	721
Cash at end of period	752	663
Supplemental disclosure of cash flow information
Income taxes paid	10	58
Interest paid	$ 59	$ 59

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Accounting Policies	BASIS OF PRESENTATION AND ACCOUNTING POLICIES Basis of Presentation The interim consolidated financial statements include the accounts of The Travelers Companies, Inc. (together with its subsidiaries, the Company). These financial statements are prepared in conformity with U.S. generally accepted accounting principles (GAAP) and are unaudited. In the opinion of the Company’s management, all adjustments necessary for a fair presentation have been reflected. Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. All material intercompany transactions and balances have been eliminated. The accompanying interim consolidated financial statements and related notes should be read in conjunction with the Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the Company’s 2021 Annual Report). The preparation of the interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim consolidated financial statements and the reported amounts of revenues and claims and expenses during the reporting period. Actual results could differ from those estimates. Certain reclassifications have been made to the 2021 financial statements to conform to the 2022 presentation. Adoption of Accounting Standards For information regarding accounting standards that the Company adopted during the periods presented, see note 1 of notes to the consolidated financial statements in the Company’s 2021 Annual Report.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Nature of Operations The Company’s results are reported in the following three business segments — Business Insurance, Bond & Specialty Insurance and Personal Insurance. These segments reflect the manner in which the Company’s businesses are currently managed and represent an aggregation of products and services based on the type of customer, how the business is marketed and the manner in which risks are underwritten. For more information regarding the Company’s nature of operations, see the “Nature of Operations ” section of note 1 of notes to the consolidated financial statements in the Company’s 2021 Annual Report. The following tables summarize the components of the Company’s revenues, income and total assets by reportable business segments: (For the three months ended March 31, in millions) Business Bond & Specialty Personal Total 2022 Premiums $ 4,071 $ 820 $ 3,123 $ 8,014 Net investment income 468 59 110 637 Fee income 96 — 7 103 Other revenues 53 4 21 78 Total segment revenues (1) $ 4,688 $ 883 $ 3,261 $ 8,832 Segment income (1) $ 669 $ 217 $ 225 $ 1,111 2021 Premiums $ 3,799 $ 743 $ 2,844 $ 7,386 Net investment income 523 59 119 701 Fee income 95 — 6 101 Other revenues 53 5 23 81 Total segment revenues (1) $ 4,470 $ 807 $ 2,992 $ 8,269 Segment income (1) $ 317 $ 137 $ 314 $ 768 _________________________________________________________ (1) Segment revenues for reportable business segments exclude net realized investment gains (losses) and revenues included in "interest expense and other." Segment income for reportable business segments equals net income excluding the after-tax impact of net realized investment gains (losses) and income (loss) from "interest expense and other." Business Segment Reconciliations Three Months Ended (in millions) 2022 2021 Revenue reconciliation Earned premiums Business Insurance: Domestic: Workers’ compensation $ 830 $ 811 Commercial automobile 713 695 Commercial property 608 531 General liability 688 607 Commercial multi-peril 967 870 Other 17 14 Total Domestic 3,823 3,528 International 248 271 Total Business Insurance 4,071 3,799 Bond & Specialty Insurance: Domestic: Fidelity and surety 274 266 General liability 373 331 Other 55 56 Total Domestic 702 653 International 118 90 Total Bond & Specialty Insurance 820 743 Personal Insurance: Domestic: Automobile 1,458 1,370 Homeowners and Other 1,496 1,308 Total Domestic 2,954 2,678 International 169 166 Total Personal Insurance 3,123 2,844 Total earned premiums 8,014 7,386 Net investment income 637 701 Fee income 103 101 Other revenues 78 81 Total segment revenues 8,832 8,269 Net realized investment gains (losses) (23) 44 Total revenues $ 8,809 $ 8,313 Income reconciliation, net of tax Total segment income $ 1,111 $ 768 Interest Expense and Other (1) (74) (69) Core income 1,037 699 Net realized investment gains (losses) (19) 34 Net income $ 1,018 $ 733 _________________________________________________________ (1) The primary component of Interest Expense and Other was after-tax interest expense of $69 million and $65 million for the three months ended March 31, 2022 and 2021, respectively. (in millions) March 31, December 31, Asset reconciliation Business Insurance $ 89,036 $ 90,353 Bond & Specialty Insurance 10,171 10,146 Personal Insurance 18,527 18,983 Total assets by reportable segment 117,734 119,482 Other assets (1) 858 984 Total consolidated assets $ 118,592 $ 120,466 _________________________________________________________ (1) The primary components of other assets at both March 31, 2022 and December 31, 2021 were accrued over-funded benefit plan assets related to the Company’s qualified domestic pension plan and other intangible assets.

Investments

Investments	3 Months Ended
	Mar. 31, 2022
Investments [Abstract]
Investments	INVESTMENTS Fixed Maturities The amortized cost and fair value of investments in fixed maturities classified as available for sale were as follows: Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Fair Value (at March 31, 2022, in millions) Gains Losses U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 3,356 $ — $ 7 $ 190 $ 3,173 Obligations of U.S. states, municipalities and political subdivisions: Local general obligation 19,345 — 275 821 18,799 Revenue 11,585 — 172 396 11,361 State general obligation 1,180 — 19 46 1,153 Pre-refunded 3,882 — 93 — 3,975 Total obligations of U.S. states, municipalities and political subdivisions 35,992 — 559 1,263 35,288 Debt securities issued by foreign governments 1,073 — — 32 1,041 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,791 — 23 54 1,760 Corporate and all other bonds 33,946 4 257 1,075 33,124 Total $ 76,158 $ 4 $ 846 $ 2,614 $ 74,386 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Fair Value (at December 31, 2021, in millions) Gains Losses U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 3,574 $ — $ 20 $ 32 $ 3,562 Obligations of U.S. states, municipalities and political subdivisions: Local general obligation 18,668 — 1,045 46 19,667 Revenue 11,274 — 693 27 11,940 State general obligation 1,158 — 67 2 1,223 Pre-refunded 3,825 — 207 — 4,032 Total obligations of U.S. states, municipalities and political subdivisions 34,925 — 2,012 75 36,862 Debt securities issued by foreign governments 1,041 — 7 7 1,041 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,754 — 68 5 1,817 Corporate and all other bonds 33,457 3 1,249 175 34,528 Total $ 74,751 $ 3 $ 3,356 $ 294 $ 77,810 Pre-refunded bonds of $3.98 billion and $4.03 billion at March 31, 2022 and December 31, 2021, respectively, were bonds for which U.S. states or municipalities have established irrevocable trusts, almost exclusively comprised of U.S. Treasury securities and obligations of U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest due under the bonds. Proceeds from sales of fixed maturities classified as available for sale were $1.04 billion and $1.24 billion during the three months ended March 31, 2022 and 2021, respectively. Gross gains of $5 million and $15 million and gross losses of $2 million and $1 million were realized on those sales during the three months ended March 31, 2022 and 2021, respectively. Equity Securities The cost and fair value of investments in equity securities were as follows: Fair (at March 31, 2022, in millions) Cost Gross Gains Gross Losses Value Common stock $ 705 $ 118 $ 7 $ 816 Non-redeemable preferred stock 56 9 1 64 Total $ 761 $ 127 $ 8 $ 880 Fair (at December 31, 2021, in millions) Cost Gross Gains Gross Losses Value Common stock $ 694 $ 137 $ 4 $ 827 Non-redeemable preferred stock 55 11 — 66 Total $ 749 $ 148 $ 4 $ 893 For the three months ended March 31, 2022 and 2021, the Company recognized $(14) million and $23 million of net gains (losses) on equity securities still held as of March 31, 2022 and 2021, respectively. Unrealized Investment Losses The following tables summarize, for all fixed maturities classified as available for sale in an unrealized loss position at March 31, 2022 and December 31, 2021, the aggregate fair value and gross unrealized loss by the length of time those securities have been continuously in an unrealized loss position. The fair value amounts reported in the tables are estimates that are prepared using the process described in note 4 herein and in note 4 of notes to the consolidated financial statements in the Company’s 2021 Annual Report. The Company also relies upon estimates of several factors in its review and evaluation of individual investments, using the process described in note 1 of notes to the consolidated financial statements in the Company’s 2021 Annual Report to determine whether a credit loss impairment exists. Less than 12 months 12 months or longer Total (at March 31, 2022, in millions) Fair Gross Fair Gross Fair Gross Fixed maturities U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,344 $ 167 $ 228 $ 23 $ 2,572 $ 190 Obligations of U.S. states, municipalities and political subdivisions 10,923 1,100 1,177 163 12,100 1,263 Debt securities issued by foreign governments 633 21 145 11 778 32 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,336 53 21 1 1,357 54 Corporate and all other bonds 15,170 836 1,964 239 17,134 1,075 Total $ 30,406 $ 2,177 $ 3,535 $ 437 $ 33,941 $ 2,614 Less than 12 months 12 months or longer Total (at December 31, 2021, in millions) Fair Gross Fair Gross Fair Gross Fixed maturities U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,438 $ 32 $ 5 $ — $ 2,443 $ 32 Obligations of U.S. states, municipalities and political subdivisions 3,873 69 153 6 4,026 75 Debt securities issued by foreign governments 452 7 7 — 459 7 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 426 5 1 — 427 5 Corporate and all other bonds 7,306 153 436 22 7,742 175 Total $ 14,495 $ 266 $ 602 $ 28 $ 15,097 $ 294 At March 31, 2022, the amount of gross unrealized losses for all fixed maturity investments reported at fair value for which fair value was less than 80% of amortized cost was $142 million due to higher interest rates. Credit Impairment Charges The following table presents changes in the allowance for expected credit losses on fixed maturities classified as available for sale for the category of Corporate and All Other Bonds (no other categories of fixed maturities currently have an allowance for expected credit losses): Fixed Maturities Corporate and All Other Bonds (in millions) At and For the Three Months Ended March 31, 2022 At and For the Three Months Ended March 31, 2021 Balance, beginning of period $ 3 $ 2 Additions for expected credit losses on securities where no credit losses were previously recognized — — Additions (reductions) for expected credit losses on securities where credit losses were previously recognized 1 — Reductions due to sales/defaults of credit-impaired securities — — Reductions for impairments of securities which the Company intends to sell or more likely than not will be required to sell (1) — — Balance, end of period $ 4 $ 2 (1) Credit impairment charges recognized in net realized investment gains (losses) for both the three months ended March 31, 2022 and 2021 included no credit losses on fixed maturity securities which the Company intends to sell. Total net credit impairment charges included in net realized investment gains (losses) in the consolidated statement of income were $1 million and $0 million for the three months ended March 31, 2022 and 2021, respectively. Credit losses related to the fixed maturity portfolio for the three months ended March 31, 2022 and 2021 represented less than 1% of the fixed maturity portfolio on a pre-tax basis and less than 1% of shareholders’ equity on an after-tax basis. Other Investments

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company’s estimates of fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the fair value accounting guidance hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company’s significant market assumptions. The level in the fair value hierarchy within which the fair value measurement is reported is based on the lowest level input that is significant to the measurement in its entirety. The three levels of the hierarchy are as follows: • Level 1 - Unadjusted quoted market prices for identical assets or liabilities in active markets that the Company has the ability to access. • Level 2 - Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable (e.g., interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data. • Level 3 - Valuations based on models where significant inputs are not observable. The unobservable inputs reflect the Company’s own assumptions about the inputs that market participants would use. Valuation of Investments Reported at Fair Value in Financial Statements The Company utilized a pricing service to estimate fair value measurements for approximately 99% of its fixed maturities at both March 31, 2022 and December 31, 2021. While the vast majority of the Company’s fixed maturities are included in Level 2, the Company holds a number of municipal bonds and corporate bonds which are not valued by the pricing service and estimates the fair value of these bonds using either another internal pricing matrix, a present value income approach, or a broker quote (collectively, the other methodologies). The other methodologies include some unobservable inputs that are significant to the valuation. Due to the limited amount of observable market information available in the estimation of fair value, the Company includes the fair value estimates for bonds that are valued using the other methodologies in Level 3. For certain investments in non-public common and preferred equity securities, the fair value estimate is determined either internally or by an external fund manager based on the impact of recent observable transactions on the investment’s equity, recent filings, operating results, balance sheet stability, growth and other business and market sector fundamentals. Due to the significant unobservable inputs in these valuations, the Company included the fair value estimate of $345 million and $343 million for these investments at March 31, 2022 and December 31, 2021, respectively, in the amounts disclosed in Level 3. For more information regarding the valuation of the Company’s fixed maturities, equity securities and other investments, see note 4 of notes to the consolidated financial statements in the Company’s 2021 Annual Report. Other Liabilities The Company has a put/call option that was entered into in connection with a business acquisition that allows the Company to acquire the remaining shares of the acquired company at a future date. The fair value of the put/call option at both March 31, 2022 and December 31, 2021 was $3 million, and was determined using an internal model and is based on the acquired company's financial performance, adjusted for a risk margin and discounted to present value. The Company includes the fair value estimate of the put/call option in Level 3. Fair Value Hierarchy The following tables present the level within the fair value hierarchy at which the Company’s financial assets and financial liabilities are measured on a recurring basis. (at March 31, 2022, in millions) Total Level 1 Level 2 Level 3 Invested assets: Fixed maturities U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 3,173 $ 3,173 $ — $ — Obligations of U.S. states, municipalities and political subdivisions 35,288 — 35,284 4 Debt securities issued by foreign governments 1,041 — 1,041 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,760 — 1,712 48 Corporate and all other bonds 33,124 3 32,897 224 Total fixed maturities 74,386 3,176 70,934 276 Equity securities Common stock 816 497 — 319 Non-redeemable preferred stock 64 18 20 26 Total equity securities 880 515 20 345 Other investments 19 17 — 2 Total $ 75,285 $ 3,708 $ 70,954 $ 623 Other liabilities $ 3 $ — $ — $ 3 (at December 31, 2021, in millions) Total Level 1 Level 2 Level 3 Invested assets: Fixed maturities U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 3,562 $ 3,562 $ — $ — Obligations of U.S. states, municipalities and political subdivisions 36,862 — 36,858 4 Debt securities issued by foreign governments 1,041 — 1,041 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,817 — 1,762 55 Corporate and all other bonds 34,528 — 34,339 189 Total fixed maturities 77,810 3,562 74,000 248 Equity securities Common stock 827 509 — 318 Non-redeemable preferred stock 66 21 20 25 Total equity securities 893 530 20 343 Other investments 23 18 — 5 Total $ 78,726 $ 4,110 $ 74,020 $ 596 Other liabilities $ 3 $ — $ — $ 3 There was no significant activity in Level 3 of the hierarchy during the three months ended March 31, 2022. Financial Instruments Disclosed, But Not Carried, At Fair Value The following tables present the carrying value and fair value of the Company’s financial assets and financial liabilities disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such assets and liabilities are categorized. (at March 31, 2022, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets Short-term securities $ 3,467 $ 3,467 $ 376 $ 3,030 $ 61 Financial liabilities Debt $ 7,191 $ 7,920 $ — $ 7,920 $ — Commercial paper 100 100 — 100 — (at December 31, 2021, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets Short-term securities $ 3,836 $ 3,836 $ 1,163 $ 2,615 $ 58 Financial liabilities Debt $ 7,190 $ 9,085 $ — $ 9,085 $ — Commercial paper 100 100 — 100 — The Company had no material assets or liabilities that were measured at fair value on a non-recurring basis during the three months ended March 31, 2022 or the year ended December 31, 2021.

Allowance for Expected Credit L

Allowance for Expected Credit Losses	3 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
Allowance for Expected Credit Losses	ALLOWANCE FOR EXPECTED CREDIT LOSSES Premiums Receivable The following table presents the balances of premiums receivable, net of the allowance for expected credit losses, at March 31, 2022 and 2021, and the changes in the allowance for expected credit losses for the three months ended March 31, 2022 and 2021. At and For the Three Months Ended March 31, 2022 At and For the Three Months Ended March 31, 2021 (in millions) Premiums Receivable, Net of Allowance for Expected Credit Losses Allowance for Expected Credit Losses Premiums Receivable, Net of Allowance for Expected Credit Losses Allowance for Expected Credit Losses Balance, beginning of period $ 8,085 $ 107 $ 7,829 $ 105 Current period change for expected credit losses 18 16 Write-offs of uncollectible premiums receivable 36 11 Balance, end of period $ 8,593 $ 89 $ 8,167 $ 110 Reinsurance Recoverables The following table presents the balances of reinsurance recoverables, net of the allowance for estimated uncollectible reinsurance, at March 31, 2022 and 2021, and the changes in the allowance for estimated uncollectible reinsurance for the three months ended March 31, 2022 and 2021. At and For the Three Months Ended March 31, 2022 At and For the Three Months Ended March 31, 2021 (in millions) Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible Reinsurance Allowance for Estimated Uncollectible Reinsurance Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible Reinsurance Allowance for Estimated Uncollectible Reinsurance Balance, beginning of period $ 8,452 $ 141 $ 8,350 $ 146 Current period change for estimated uncollectible reinsurance (6) (4) Write-offs of uncollectible reinsurance recoverables — — Balance, end of period $ 8,734 $ 135 $ 8,345 $ 142 Of the total reinsurance recoverables at March 31, 2022, after deducting mandatory pools and associations and before allowances for estimated uncollectible reinsurance, $5.94 billion, or 84%, were rated by A.M. Best Company. The Company utilizes updated A.M. Best credit ratings on a quarterly basis when determining the allowance. Of the total rated by A.M. Best Company, 94% were rated A- or better. The remaining 16% of reinsurance recoverables were comprised of the following: 6% related to captive insurance companies, 1% related to the Company’s participation in voluntary pools and 9% were balances from other companies not rated by A.M. Best Company. Certain of the Company's reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements. Contractholder Receivables The following table presents the balances of contractholder receivables, net of the allowance for expected credit losses, at March 31, 2022 and 2021, and the changes in the allowance for expected credit losses for the three months ended March 31, 2022 and 2021. At and For the Three Months Ended March 31, 2022 At and For the Three Months Ended March 31, 2021 (in millions) Contractholder Receivables, Net of Allowance for Expected Credit Losses Allowance for Expected Credit Losses Contractholder Receivables, Net of Allowance for Expected Credit Losses Allowance for Expected Credit Losses Balance, beginning of period $ 3,890 $ 21 $ 4,242 $ 19 Current period change for expected credit losses (2) — Write-offs of uncollectible contractholder receivables — — Balance, end of period $ 3,901 $ 19 $ 4,271 $ 19

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The following table presents the carrying amount of the Company’s goodwill by segment. Each reportable segment includes goodwill associated with the Company’s international business which is subject to the impact of changes in foreign currency exchange rates. (in millions) March 31, December 31, Business Insurance $ 2,600 $ 2,610 Bond & Specialty Insurance 550 550 Personal Insurance 825 822 Other 26 26 Total $ 4,001 $ 4,008 Other Intangible Assets The following tables present a summary of the Company’s other intangible assets by major asset class. (at March 31, 2022, in millions) Gross Accumulated Net Subject to amortization Customer-related $ 102 $ 43 $ 59 Contract-based (1) 205 189 16 Total subject to amortization 307 232 75 Not subject to amortization 226 — 226 Total $ 533 $ 232 $ 301 (at December 31, 2021, in millions) Gross Accumulated Net Subject to amortization Customer-related $ 104 $ 41 $ 63 Contract-based (1) 205 188 17 Total subject to amortization 309 229 80 Not subject to amortization 226 — 226 Total $ 535 $ 229 $ 306 _________________________________________________________ (1) Contract-based intangible assets subject to amortization are comprised of fair value adjustments on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangible assets. Fair value adjustments recorded in connection with insurance acquisitions were based on management’s estimate of nominal claims and claim adjustment expense reserves and reinsurance recoverables. The method used calculated a risk adjustment to a risk-free discounted reserve that would, if reserves ran off as expected, produce results that yielded the assumed cost-of-capital on the capital supporting the loss reserves. The fair value adjustments are reported as other intangible assets on the consolidated balance sheet, and the amounts measured in accordance with the acquirer’s accounting policies for insurance contracts have been reported as part of the claims and claim adjustment expense reserves and reinsurance recoverables. The intangible assets are being recognized into income over the expected payment pattern. Because the time value of money and the risk adjustment (cost of capital) components of the intangible assets run off at different rates, the amount recognized in income may be a net benefit in some periods and a net expense in other periods. Amortization expense of intangible assets was $3 million and $4 million for the three months ended March 31, 2022 and 2021, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $10 million for the remainder of 2022, $13 million in 2023, $12 million in 2024, $12 million in 2025 and $11 million in 2026. Amortization

Insurance Claim Reserves

Insurance Claim Reserves	3 Months Ended
	Mar. 31, 2022
Insurance Loss Reserves [Abstract]
Insurance Claim Reserves	Claims and claim adjustment expense reserves were as follows: (in millions) March 31, December 31, Property-casualty $ 57,563 $ 56,897 Accident and health 9 10 Total $ 57,572 $ 56,907 The following table presents a reconciliation of beginning and ending property casualty reserve balances for claims and claim adjustment expenses: Three Months Ended March 31, (in millions) 2022 2021 Claims and claim adjustment expense reserves at beginning of year $ 56,897 $ 54,510 Less reinsurance recoverables on unpaid losses 8,209 8,153 Net reserves at beginning of year 48,688 46,357 Estimated claims and claim adjustment expenses for claims arising in the current year 5,133 5,242 Estimated decrease in claims and claim adjustment expenses for claims arising in prior years (114) (294) Total increases 5,019 4,948 Claims and claim adjustment expense payments for claims arising in: Current year 1,074 1,059 Prior years 3,498 3,012 Total payments 4,572 4,071 Unrealized foreign exchange (gain) loss (13) 28 Net reserves at end of period 49,122 47,262 Plus reinsurance recoverables on unpaid losses 8,441 8,068 Claims and claim adjustment expense reserves at end of period $ 57,563 $ 55,330 Gross claims and claim adjustment expense reserves at March 31, 2022 increased by $666 million from December 31, 2021, primarily reflecting the impacts of (i) higher volumes of insured exposures, (ii) loss cost trends for the current accident year, (iii) fully reinsured property losses associated with fronting arrangements and (iv) reduced claim settlement activity largely due to continued disruptions in the judicial system related to COVID-19. Reinsurance recoverables on unpaid losses at March 31, 2022 increased by $232 million from December 31, 2021, primarily reflecting the impact of fully reinsured property losses associated with fronting arrangements, partially offset by cash collections in the first three months of 2022. Prior Year Reserve Development The following disclosures regarding reserve development are on a “net of reinsurance” basis. For the three months ended March 31, 2022 and 2021, estimated claims and claim adjustment expenses incurred included $114 million and $294 million, respectively, of net favorable development for claims arising in prior years, including $153 million and $317 million, respectively, of net favorable prior year reserve development, and $12 million of accretion of discount in each period that impacted the Company's results of operations. Business Insurance. Net favorable prior year reserve development in the first quarters of 2022 and 2021 totaled $113 million and $134 million, respectively, primarily driven by better than expected loss experience in the domestic operations' workers' compensation product line for multiple accident years. The first quarters of 2022 and 2021 also included an increase to environmental reserves. Included in net favorable prior year reserve development in the first quarter of 2021 was a subrogation benefit of $10 million from Southern California Edison Company related to the 2018 Woolsey wildfire in California. Bond & Specialty Insurance. Net favorable prior year reserve development in the first quarter of 2022 totaled $35 million, primarily driven by better than expected loss experience in the domestic operations' fidelity and surety product lines for recent accident years, partially offset by higher than expected loss experience in the domestic operations' general liability product line for management liability coverages for multiple accident years. Net favorable prior year reserve development in the first quarter of 2021 totaled $15 million, primarily driven by better than expected loss experience in the domestic fidelity and surety product lines for multiple accident years, partially offset by higher than expected loss experience in the domestic general liability product line for management liability coverages for multiple accident years. Personal Insurance. Net favorable prior year reserve development in the first quarter of 2022 totaled $5 million. Net favorable prior year reserve development in the first quarter of 2021 totaled $168 million, primarily driven by better than expected loss experience in domestic operations in both the homeowners and other and automobile product lines for recent accident years. Included in net favorable prior year reserve development in the first quarter of 2021 was a subrogation benefit of $62 million from Southern California Edison Company related to the 2018 Woolsey wildfire in California.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2022
Other Comprehensive Income And Accumulated Other Comprehensive Income Disclosure [Abstract]
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)	OTHER COMPREHENSIVE INCOME (LOSS) AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in the Company’s accumulated other comprehensive income (loss) (AOCI) for the three months ended March 31, 2022. Changes in Net Unrealized Gains (Losses) on Investment Securities (in millions) Having No Credit Having Credit Net Benefit Plan Assets and Net Unrealized Total Accumulated Balance, December 31, 2021 $ 2,233 $ 182 $ (473) $ (749) $ 1,193 Other comprehensive income (loss) (OCI) before reclassifications, net of tax (3,804) (1) 1 2 (3,802) Amounts reclassified from AOCI, net of tax (1) — 8 — 7 Net OCI, current period (3,805) (1) 9 2 (3,795) Balance, March 31, 2022 $ (1,572) $ 181 $ (464) $ (747) $ (2,602) The following table presents the pre-tax components of the Company’s other comprehensive income (loss) and the related income tax expense (benefit). Three Months Ended (in millions) 2022 2021 Changes in net unrealized gains (losses) on investment securities: Having no credit losses recognized in the consolidated statement of income $ (4,829) $ (1,596) Income tax benefit (1,024) (339) Net of taxes (3,805) (1,257) Having credit losses recognized in the consolidated statement of income (1) — Income tax benefit — — Net of taxes (1) — Net changes in benefit plan assets and obligations 11 25 Income tax expense 2 5 Net of taxes 9 20 Net changes in unrealized foreign currency translation 2 26 Income tax expense — — Net of taxes 2 26 Total other comprehensive loss (4,817) (1,545) Total income tax benefit (1,022) (334) Total other comprehensive loss, net of taxes $ (3,795) $ (1,211) The following table presents the pre-tax and related income tax (expense) benefit components of the amounts reclassified from the Company’s AOCI to the Company’s consolidated statement of income. Three Months Ended (in millions) 2022 2021 Reclassification adjustments related to unrealized gains (losses) on investment securities: Having no credit losses recognized in the consolidated statement of income (1) $ (2) $ (14) Income tax expense (2) (1) (3) Net of taxes (1) (11) Having credit losses recognized in the consolidated statement of income (1) — — Income tax benefit (2) — — Net of taxes — — Reclassification adjustment related to benefit plan assets and obligations: Claims and claim adjustment expenses (3) 4 10 General and administrative expenses (3) 6 15 Total 10 25 Income tax benefit (2) 2 5 Net of taxes 8 20 Reclassification adjustment related to foreign currency translation (1) — — Income tax benefit (2) — — Net of taxes — — Total reclassifications 8 11 Total income tax benefit 1 2 Total reclassifications, net of taxes $ 7 $ 9 _________________________________________________________ (1) (Increases) decreases net realized investment gains (losses) on the consolidated statement of income. (2) (Increases) decreases income tax expense on the consolidated statement of income. (3) Increases (decreases) expenses on the consolidated statement of income.

Common Share Repurchases

Common Share Repurchases	3 Months Ended
	Mar. 31, 2022
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]
Common Share Repurchases	COMMON SHARE REPURCHASES During the three months ended March 31, 2022, the Company repurchased 2.9 million common shares under its share repurchase authorizations for total cost of $500 million. The average cost per share repurchased was $172.10.  In addition, the Company acquired 0.4 million shares for a total cost of $59 million during the three months ended March 31, 2022 that were not part of its publicly announced share repurchase authorizations.  These shares consisted of shares retained to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the price of certain stock options that were exercised. At March 31, 2022, the Company had $3.51 billion of capacity remaining under its share repurchase authorizations.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share Reconciliation [Abstract]
Earnings per Share	EARNINGS PER SHARE The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the periods presented: Three Months Ended (in millions, except per share amounts) 2022 2021 Basic and Diluted Net income, as reported $ 1,018 $ 733 Participating share-based awards — allocated income (7) (5) Net income available to common shareholders — basic and diluted $ 1,011 $ 728 Common Shares Basic Weighted average shares outstanding 240.9 252.1 Diluted Weighted average shares outstanding 240.9 252.1 Weighted average effects of dilutive securities — stock options and performance shares 2.8 2.0 Total 243.7 254.1 Net Income per Common Share Basic $ 4.20 $ 2.89 Diluted $ 4.15 $ 2.87

Share-Based Incentive Compensat

Share-Based Incentive Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Incentive Compensation	SHARE-BASED INCENTIVE COMPENSATION The following information relates to fully vested stock option awards at March 31, 2022: Stock Options Number Weighted Weighted Aggregate Vested at end of period (1) 7,437,915 $ 130.41 6.5 years $ 389 Exercisable at end of period 4,607,372 $ 122.31 5.2 years $ 278 _________________________________________________________ (1) Represents awards for which the requisite service has been rendered, including those that are retirement eligible. The total compensation cost for all share-based incentive compensation awards recognized in earnings was $59 million and $53 million for the three months ended March 31, 2022 and 2021, respectively. The related tax benefits recognized in earnings were $10 million and $9 million for the three months ended March 31, 2022 and 2021, respectively. The total unrecognized compensation cost related to all nonvested share-based incentive compensation awards at March 31, 2022 was $278 million, which is expected to be recognized over a weighted-average period of 2.2 years.

Pension Plans, Retirement Benef

Pension Plans, Retirement Benefits and Savings Plans	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Pension Plans, Retirement Benefits and Savings Plans	PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS The following table summarizes the components of net periodic benefit cost (benefit) for the Company’s pension and postretirement benefit plans recognized in the consolidated statement of income for the three months ended March 31, 2022 and 2021. Pension Plans Postretirement Benefit Plans (for the three months ended March 31, in millions) 2022 2021 2022 2021 Net Periodic Benefit Cost (Benefit): Service cost $ 36 $ 35 $ — $ — Non-service cost (benefit): Interest cost on benefit obligation $ 25 $ 21 $ 1 $ 1 Expected return on plan assets (74) (69) — — Amortization of unrecognized: Prior service benefit — — (1) (1) Net actuarial (gain) loss 12 27 (1) (1) Total non-service cost (benefit) (37) (21) (1) (1) Net periodic benefit cost (benefit) $ (1) $ 14 $ (1) $ (1) The following table indicates the line items in which the respective service cost and non-service cost (benefit) are presented in the consolidated statement of income for the three months ended March 31, 2022 and 2021. Pension Plans Postretirement Benefit Plans (for the three months ended March 31, in millions) 2022 2021 2022 2021 Service Cost: Claims and claim adjustment expenses $ 15 $ 14 $ — $ — General and administrative expenses 21 21 — — Total service cost 36 35 — — Non-Service Cost (Benefit): Claims and claim adjustment expenses (15) (9) — — General and administrative expenses (22) (12) (1) (1) Total non-service cost (benefit) (37) (21) (1) (1) Net periodic benefit cost (benefit) $ (1) $ 14 $ (1) $ (1)

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	LEASES The Company enters into lease agreements for real estate that is primarily used for office space in the ordinary course of business. These leases are accounted for as operating leases, whereby lease expense is recognized on a straight-line basis over the term of the lease, and a right-of-use asset and lease liability is recognized as part of other assets and other liabilities, respectively, in the consolidated balance sheet. Most leases include an option to extend or renew the lease term. The exercise of the renewal option is at the Company's discretion. The operating lease liability includes lease payments related to options to extend or renew the lease term if the Company is reasonably certain of exercising those options. The Company, in determining the present value of lease payments, utilizes either the rate implicit in the lease, if that rate is readily determinable, or the Company’s incremental secured borrowing rate commensurate with the term of the underlying lease. Lease expense is included in general and administrative expenses in the consolidated statement of income. Additional information regarding the Company’s real estate operating leases is as follows: Three Months Ended (in millions) 2022 2021 Lease cost Operating leases $ 21 $ 23 Short-term leases (1) — — Lease expense 21 23 Less: sublease income (2) — — Net lease cost $ 21 $ 23 Other information on operating leases Cash payments to settle a lease liability reported in cash flows $ 24 $ 26 Right-of-use assets obtained in exchange for new lease liabilities $ 2 $ 12 Weighted average discount rate 2.23 % 2.46 % Weighted average remaining lease term 4.8 years 4.9 years _________________________________________________________ (1) Leases with a term of twelve months or less are not recorded on the consolidated balance sheet.

Contingencies, Commitments and

Contingencies, Commitments and Guarantees	3 Months Ended
	Mar. 31, 2022
Contingencies, Commitments and Guarantees [Abstract]
Contingencies, Commitments and Guarantees	CONTINGENCIES, COMMITMENTS AND GUARANTEES Contingencies The major pending legal proceedings, other than ordinary routine litigation incidental to the business, to which the Company or any of its subsidiaries is a party or to which any of the Company’s properties is subject are described below. Asbestos and Environmental Claims and Litigation In the ordinary course of its insurance business, the Company has received and continues to receive claims for insurance arising under policies issued by the Company asserting alleged injuries and damages from asbestos- and environmental-related exposures that are the subject of related coverage litigation. The Company is defending asbestos- and environmental-related litigation vigorously and believes that it has meritorious defenses; however, the outcomes of these disputes are uncertain. In this regard, the Company employs dedicated specialists and comprehensive resolution strategies to manage asbestos and environmental loss exposure, including settling litigation under appropriate circumstances. Currently, it is not possible to predict legal outcomes and their impact on future loss development for claims and litigation relating to asbestos and environmental claims. Any such development could be affected by future court decisions and interpretations, as well as future changes, if any, in applicable legislation. Because of these uncertainties, additional liabilities may arise for amounts in excess of the Company’s current insurance reserves. In addition, the Company’s estimate of ultimate claims and claim adjustment expenses may change. These additional liabilities or changes in estimates, or a range of either, cannot now be reasonably estimated and could result in income statement charges that could be material to the Company’s results of operations in future periods. Other Proceedings Not Arising Under Insurance Contracts or Reinsurance Agreements The Company is involved in other lawsuits, including lawsuits alleging extra-contractual damages relating to insurance contracts or reinsurance agreements, that do not arise under insurance contracts or reinsurance agreements. The legal costs associated with such lawsuits are expensed in the period in which the costs are incurred. Based upon currently available information, the Company does not believe it is reasonably possible that any such lawsuit or related lawsuits would be material to the Company’s results of operations or would have a material adverse effect on the Company’s financial position or liquidity. Other Commitments and Guarantees Commitments Investment Commitments — The Company has unfunded commitments to private equity limited partnerships, real estate partnerships and others. These commitments totaled $1.72 billion and $1.70 billion at March 31, 2022 and December 31, 2021, respectively. Guarantees The maximum amount of the Company’s contingent obligation for indemnifications related to the sale of businesses that are quantifiable was $351 million at March 31, 2022. The maximum amount of the Company’s obligation related to the guarantee of certain insurance policy obligations of a former insurance subsidiary was $480 million at March 31, 2022, all of which is indemnified by a third party. For more information regarding Company guarantees, see note 17 of notes to the consolidated financial statements in the Company’s 2021 Annual Report.

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation [Policy Text Block]	Basis of Presentation The interim consolidated financial statements include the accounts of The Travelers Companies, Inc. (together with its subsidiaries, the Company). These financial statements are prepared in conformity with U.S. generally accepted accounting principles (GAAP) and are unaudited. In the opinion of the Company’s management, all adjustments necessary for a fair presentation have been reflected. Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. All material intercompany transactions and balances have been eliminated. The accompanying interim consolidated financial statements and related notes should be read in conjunction with the Company’s consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the Company’s 2021 Annual Report). The preparation of the interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim consolidated financial statements and the reported amounts of revenues and claims and expenses during the reporting period. Actual results could differ from those estimates. Certain reclassifications have been made to the 2021 financial statements to conform to the 2022 presentation.
Adoption of Accounting Standards [Policy Text Block]	Adoption of Accounting Standards For information regarding accounting standards that the Company adopted during the periods presented, see note 1 of notes to the consolidated financial statements in the Company’s 2021 Annual Report.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Company's revenues and income by segment [Table Text Block]	(For the three months ended March 31, in millions) Business Bond & Specialty Personal Total 2022 Premiums $ 4,071 $ 820 $ 3,123 $ 8,014 Net investment income 468 59 110 637 Fee income 96 — 7 103 Other revenues 53 4 21 78 Total segment revenues (1) $ 4,688 $ 883 $ 3,261 $ 8,832 Segment income (1) $ 669 $ 217 $ 225 $ 1,111 2021 Premiums $ 3,799 $ 743 $ 2,844 $ 7,386 Net investment income 523 59 119 701 Fee income 95 — 6 101 Other revenues 53 5 23 81 Total segment revenues (1) $ 4,470 $ 807 $ 2,992 $ 8,269 Segment income (1) $ 317 $ 137 $ 314 $ 768 _________________________________________________________ (1) Segment revenues for reportable business segments exclude net realized investment gains (losses) and revenues included in "interest expense and other." Segment income for reportable business segments equals net income excluding the after-tax impact of net realized investment gains (losses) and income (loss) from "interest expense and other."
Business segment reconciliations of revenue and income, net of tax [Table Text Block]	Business Segment Reconciliations Three Months Ended (in millions) 2022 2021 Revenue reconciliation Earned premiums Business Insurance: Domestic: Workers’ compensation $ 830 $ 811 Commercial automobile 713 695 Commercial property 608 531 General liability 688 607 Commercial multi-peril 967 870 Other 17 14 Total Domestic 3,823 3,528 International 248 271 Total Business Insurance 4,071 3,799 Bond & Specialty Insurance: Domestic: Fidelity and surety 274 266 General liability 373 331 Other 55 56 Total Domestic 702 653 International 118 90 Total Bond & Specialty Insurance 820 743 Personal Insurance: Domestic: Automobile 1,458 1,370 Homeowners and Other 1,496 1,308 Total Domestic 2,954 2,678 International 169 166 Total Personal Insurance 3,123 2,844 Total earned premiums 8,014 7,386 Net investment income 637 701 Fee income 103 101 Other revenues 78 81 Total segment revenues 8,832 8,269 Net realized investment gains (losses) (23) 44 Total revenues $ 8,809 $ 8,313 Income reconciliation, net of tax Total segment income $ 1,111 $ 768 Interest Expense and Other (1) (74) (69) Core income 1,037 699 Net realized investment gains (losses) (19) 34 Net income $ 1,018 $ 733 _________________________________________________________ (1) The primary component of Interest Expense and Other was after-tax interest expense of $69 million and $65 million for the three months ended March 31, 2022 and 2021, respectively.
Asset reconciliation [Table Text Block]	(in millions) March 31, December 31, Asset reconciliation Business Insurance $ 89,036 $ 90,353 Bond & Specialty Insurance 10,171 10,146 Personal Insurance 18,527 18,983 Total assets by reportable segment 117,734 119,482 Other assets (1) 858 984 Total consolidated assets $ 118,592 $ 120,466 _________________________________________________________ (1) The primary components of other assets at both March 31, 2022 and December 31, 2021 were accrued over-funded benefit plan assets related to the Company’s qualified domestic pension plan and other intangible assets.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments [Abstract]
Amortized cost and fair value of investments in fixed maturities [Table Text Block]	The amortized cost and fair value of investments in fixed maturities classified as available for sale were as follows: Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Fair Value (at March 31, 2022, in millions) Gains Losses U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 3,356 $ — $ 7 $ 190 $ 3,173 Obligations of U.S. states, municipalities and political subdivisions: Local general obligation 19,345 — 275 821 18,799 Revenue 11,585 — 172 396 11,361 State general obligation 1,180 — 19 46 1,153 Pre-refunded 3,882 — 93 — 3,975 Total obligations of U.S. states, municipalities and political subdivisions 35,992 — 559 1,263 35,288 Debt securities issued by foreign governments 1,073 — — 32 1,041 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,791 — 23 54 1,760 Corporate and all other bonds 33,946 4 257 1,075 33,124 Total $ 76,158 $ 4 $ 846 $ 2,614 $ 74,386 Amortized Cost Allowance for Expected Credit Losses Gross Unrealized Fair Value (at December 31, 2021, in millions) Gains Losses U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 3,574 $ — $ 20 $ 32 $ 3,562 Obligations of U.S. states, municipalities and political subdivisions: Local general obligation 18,668 — 1,045 46 19,667 Revenue 11,274 — 693 27 11,940 State general obligation 1,158 — 67 2 1,223 Pre-refunded 3,825 — 207 — 4,032 Total obligations of U.S. states, municipalities and political subdivisions 34,925 — 2,012 75 36,862 Debt securities issued by foreign governments 1,041 — 7 7 1,041 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,754 — 68 5 1,817 Corporate and all other bonds 33,457 3 1,249 175 34,528 Total $ 74,751 $ 3 $ 3,356 $ 294 $ 77,810
Cost and fair value of investments in equity securities [Table Text Block]	The cost and fair value of investments in equity securities were as follows: Fair (at March 31, 2022, in millions) Cost Gross Gains Gross Losses Value Common stock $ 705 $ 118 $ 7 $ 816 Non-redeemable preferred stock 56 9 1 64 Total $ 761 $ 127 $ 8 $ 880 Fair (at December 31, 2021, in millions) Cost Gross Gains Gross Losses Value Common stock $ 694 $ 137 $ 4 $ 827 Non-redeemable preferred stock 55 11 — 66 Total $ 749 $ 148 $ 4 $ 893
Unrealized investment losses [Table Text Block]	The following tables summarize, for all fixed maturities classified as available for sale in an unrealized loss position at March 31, 2022 and December 31, 2021, the aggregate fair value and gross unrealized loss by the length of time those securities have been continuously in an unrealized loss position. The fair value amounts reported in the tables are estimates that are prepared using the process described in note 4 herein and in note 4 of notes to the consolidated financial statements in the Company’s 2021 Annual Report. The Company also relies upon estimates of several factors in its review and evaluation of individual investments, using the process described in note 1 of notes to the consolidated financial statements in the Company’s 2021 Annual Report to determine whether a credit loss impairment exists. Less than 12 months 12 months or longer Total (at March 31, 2022, in millions) Fair Gross Fair Gross Fair Gross Fixed maturities U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,344 $ 167 $ 228 $ 23 $ 2,572 $ 190 Obligations of U.S. states, municipalities and political subdivisions 10,923 1,100 1,177 163 12,100 1,263 Debt securities issued by foreign governments 633 21 145 11 778 32 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,336 53 21 1 1,357 54 Corporate and all other bonds 15,170 836 1,964 239 17,134 1,075 Total $ 30,406 $ 2,177 $ 3,535 $ 437 $ 33,941 $ 2,614 Less than 12 months 12 months or longer Total (at December 31, 2021, in millions) Fair Gross Fair Gross Fair Gross Fixed maturities U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,438 $ 32 $ 5 $ — $ 2,443 $ 32 Obligations of U.S. states, municipalities and political subdivisions 3,873 69 153 6 4,026 75 Debt securities issued by foreign governments 452 7 7 — 459 7 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 426 5 1 — 427 5 Corporate and all other bonds 7,306 153 436 22 7,742 175 Total $ 14,495 $ 266 $ 602 $ 28 $ 15,097 $ 294
Changes in the allowance for expected credit losses on fixed maturities classified as available for sale [Table Text Block]	The following table presents changes in the allowance for expected credit losses on fixed maturities classified as available for sale for the category of Corporate and All Other Bonds (no other categories of fixed maturities currently have an allowance for expected credit losses): Fixed Maturities Corporate and All Other Bonds (in millions) At and For the Three Months Ended March 31, 2022 At and For the Three Months Ended March 31, 2021 Balance, beginning of period $ 3 $ 2 Additions for expected credit losses on securities where no credit losses were previously recognized — — Additions (reductions) for expected credit losses on securities where credit losses were previously recognized 1 — Reductions due to sales/defaults of credit-impaired securities — — Reductions for impairments of securities which the Company intends to sell or more likely than not will be required to sell (1) — — Balance, end of period $ 4 $ 2 (1) Credit impairment charges recognized in net realized investment gains (losses) for both the three months ended March 31, 2022 and 2021

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured on a recurring basis [Table Text Block]	The following tables present the level within the fair value hierarchy at which the Company’s financial assets and financial liabilities are measured on a recurring basis. (at March 31, 2022, in millions) Total Level 1 Level 2 Level 3 Invested assets: Fixed maturities U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 3,173 $ 3,173 $ — $ — Obligations of U.S. states, municipalities and political subdivisions 35,288 — 35,284 4 Debt securities issued by foreign governments 1,041 — 1,041 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,760 — 1,712 48 Corporate and all other bonds 33,124 3 32,897 224 Total fixed maturities 74,386 3,176 70,934 276 Equity securities Common stock 816 497 — 319 Non-redeemable preferred stock 64 18 20 26 Total equity securities 880 515 20 345 Other investments 19 17 — 2 Total $ 75,285 $ 3,708 $ 70,954 $ 623 Other liabilities $ 3 $ — $ — $ 3 (at December 31, 2021, in millions) Total Level 1 Level 2 Level 3 Invested assets: Fixed maturities U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 3,562 $ 3,562 $ — $ — Obligations of U.S. states, municipalities and political subdivisions 36,862 — 36,858 4 Debt securities issued by foreign governments 1,041 — 1,041 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,817 — 1,762 55 Corporate and all other bonds 34,528 — 34,339 189 Total fixed maturities 77,810 3,562 74,000 248 Equity securities Common stock 827 509 — 318 Non-redeemable preferred stock 66 21 20 25 Total equity securities 893 530 20 343 Other investments 23 18 — 5 Total $ 78,726 $ 4,110 $ 74,020 $ 596 Other liabilities $ 3 $ — $ — $ 3
Carrying value and fair value of the Company's financial assets and financial liabilities disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such assets and liabilities are categorized [Table Text Block]	The following tables present the carrying value and fair value of the Company’s financial assets and financial liabilities disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such assets and liabilities are categorized. (at March 31, 2022, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets Short-term securities $ 3,467 $ 3,467 $ 376 $ 3,030 $ 61 Financial liabilities Debt $ 7,191 $ 7,920 $ — $ 7,920 $ — Commercial paper 100 100 — 100 — (at December 31, 2021, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets Short-term securities $ 3,836 $ 3,836 $ 1,163 $ 2,615 $ 58 Financial liabilities Debt $ 7,190 $ 9,085 $ — $ 9,085 $ — Commercial paper 100 100 — 100 —

Allowance for Expected Credit_2

Allowance for Expected Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
Changes in the allowance for expected credit losses on premiums receivable [Table Text Block]	The following table presents the balances of premiums receivable, net of the allowance for expected credit losses, at March 31, 2022 and 2021, and the changes in the allowance for expected credit losses for the three months ended March 31, 2022 and 2021. At and For the Three Months Ended March 31, 2022 At and For the Three Months Ended March 31, 2021 (in millions) Premiums Receivable, Net of Allowance for Expected Credit Losses Allowance for Expected Credit Losses Premiums Receivable, Net of Allowance for Expected Credit Losses Allowance for Expected Credit Losses Balance, beginning of period $ 8,085 $ 107 $ 7,829 $ 105 Current period change for expected credit losses 18 16 Write-offs of uncollectible premiums receivable 36 11 Balance, end of period $ 8,593 $ 89 $ 8,167 $ 110
Changes in the allowance for estimated uncollectible reinsurance [Table Text Block]	The following table presents the balances of reinsurance recoverables, net of the allowance for estimated uncollectible reinsurance, at March 31, 2022 and 2021, and the changes in the allowance for estimated uncollectible reinsurance for the three months ended March 31, 2022 and 2021. At and For the Three Months Ended March 31, 2022 At and For the Three Months Ended March 31, 2021 (in millions) Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible Reinsurance Allowance for Estimated Uncollectible Reinsurance Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible Reinsurance Allowance for Estimated Uncollectible Reinsurance Balance, beginning of period $ 8,452 $ 141 $ 8,350 $ 146 Current period change for estimated uncollectible reinsurance (6) (4) Write-offs of uncollectible reinsurance recoverables — — Balance, end of period $ 8,734 $ 135 $ 8,345 $ 142
Changes in the allowance for expected credit losses on contractholder receivables [Table Text Block]	The following table presents the balances of contractholder receivables, net of the allowance for expected credit losses, at March 31, 2022 and 2021, and the changes in the allowance for expected credit losses for the three months ended March 31, 2022 and 2021. At and For the Three Months Ended March 31, 2022 At and For the Three Months Ended March 31, 2021 (in millions) Contractholder Receivables, Net of Allowance for Expected Credit Losses Allowance for Expected Credit Losses Contractholder Receivables, Net of Allowance for Expected Credit Losses Allowance for Expected Credit Losses Balance, beginning of period $ 3,890 $ 21 $ 4,242 $ 19 Current period change for expected credit losses (2) — Write-offs of uncollectible contractholder receivables — — Balance, end of period $ 3,901 $ 19 $ 4,271 $ 19

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill by segment [Table Text Block]	The following table presents the carrying amount of the Company’s goodwill by segment. Each reportable segment includes goodwill associated with the Company’s international business which is subject to the impact of changes in foreign currency exchange rates. (in millions) March 31, December 31, Business Insurance $ 2,600 $ 2,610 Bond & Specialty Insurance 550 550 Personal Insurance 825 822 Other 26 26 Total $ 4,001 $ 4,008
Other intangible assets subject to amortization [Table Text Block]	The following tables present a summary of the Company’s other intangible assets by major asset class. (at March 31, 2022, in millions) Gross Accumulated Net Subject to amortization Customer-related $ 102 $ 43 $ 59 Contract-based (1) 205 189 16 Total subject to amortization 307 232 75 Not subject to amortization 226 — 226 Total $ 533 $ 232 $ 301 (at December 31, 2021, in millions) Gross Accumulated Net Subject to amortization Customer-related $ 104 $ 41 $ 63 Contract-based (1) 205 188 17 Total subject to amortization 309 229 80 Not subject to amortization 226 — 226 Total $ 535 $ 229 $ 306 _________________________________________________________ (1) Contract-based intangible assets subject to amortization are comprised of fair value adjustments on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangible assets. Fair value adjustments recorded in connection with insurance acquisitions were based on management’s estimate of nominal claims and claim adjustment expense reserves and reinsurance recoverables. The method used calculated a risk adjustment to a risk-free discounted reserve that would, if reserves ran off as expected, produce results that yielded the assumed cost-of-capital on the capital supporting the loss reserves. The fair value adjustments are reported as other intangible assets on the consolidated balance sheet, and the amounts measured in accordance with the acquirer’s accounting policies for insurance contracts have been reported as part of the claims and claim adjustment expense reserves and reinsurance recoverables. The intangible assets are being recognized into income over the expected payment pattern. Because the time value of money and the risk adjustment (cost of capital) components of the intangible assets run off at different rates, the amount recognized in income may be a net benefit in some periods and a net expense in other periods.
Other intangible assets not subject to amortization [Table Text Block]	The following tables present a summary of the Company’s other intangible assets by major asset class. (at March 31, 2022, in millions) Gross Accumulated Net Subject to amortization Customer-related $ 102 $ 43 $ 59 Contract-based (1) 205 189 16 Total subject to amortization 307 232 75 Not subject to amortization 226 — 226 Total $ 533 $ 232 $ 301 (at December 31, 2021, in millions) Gross Accumulated Net Subject to amortization Customer-related $ 104 $ 41 $ 63 Contract-based (1) 205 188 17 Total subject to amortization 309 229 80 Not subject to amortization 226 — 226 Total $ 535 $ 229 $ 306 _________________________________________________________ (1) Contract-based intangible assets subject to amortization are comprised of fair value adjustments on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangible assets. Fair value adjustments recorded in connection with insurance acquisitions were based on management’s estimate of nominal claims and claim adjustment expense reserves and reinsurance recoverables. The method used calculated a risk adjustment to a risk-free discounted reserve that would, if reserves ran off as expected, produce results that yielded the assumed cost-of-capital on the capital supporting the loss reserves. The fair value adjustments are reported as other intangible assets on the consolidated balance sheet, and the amounts measured in accordance with the acquirer’s accounting policies for insurance contracts have been reported as part of the claims and claim adjustment expense reserves and reinsurance recoverables. The intangible assets are being recognized into income over the expected payment pattern. Because the time value of money and the risk adjustment (cost of capital) components of the intangible assets run off at different rates, the amount recognized in income may be a net benefit in some periods and a net expense in other periods.

Insurance Claim Reserves (Table

Insurance Claim Reserves (Tables)	3 Months Ended
	Mar. 31, 2022
Insurance Loss Reserves [Abstract]
Claims and claim adjustment expense reserves [Table Text Block]	Claims and claim adjustment expense reserves were as follows: (in millions) March 31, December 31, Property-casualty $ 57,563 $ 56,897 Accident and health 9 10 Total $ 57,572 $ 56,907
Reconciliation of beginning and ending property casualty reserve balances for claims and claim adjustment expenses [Table Text Block]	The following table presents a reconciliation of beginning and ending property casualty reserve balances for claims and claim adjustment expenses: Three Months Ended March 31, (in millions) 2022 2021 Claims and claim adjustment expense reserves at beginning of year $ 56,897 $ 54,510 Less reinsurance recoverables on unpaid losses 8,209 8,153 Net reserves at beginning of year 48,688 46,357 Estimated claims and claim adjustment expenses for claims arising in the current year 5,133 5,242 Estimated decrease in claims and claim adjustment expenses for claims arising in prior years (114) (294) Total increases 5,019 4,948 Claims and claim adjustment expense payments for claims arising in: Current year 1,074 1,059 Prior years 3,498 3,012 Total payments 4,572 4,071 Unrealized foreign exchange (gain) loss (13) 28 Net reserves at end of period 49,122 47,262 Plus reinsurance recoverables on unpaid losses 8,441 8,068 Claims and claim adjustment expense reserves at end of period $ 57,563 $ 55,330

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2022
Other Comprehensive Income And Accumulated Other Comprehensive Income Disclosure [Abstract]
Changes in accumulated other comprehensive income (loss) (AOCI) [Table Text Block]	The following table presents the changes in the Company’s accumulated other comprehensive income (loss) (AOCI) for the three months ended March 31, 2022. Changes in Net Unrealized Gains (Losses) on Investment Securities (in millions) Having No Credit Having Credit Net Benefit Plan Assets and Net Unrealized Total Accumulated Balance, December 31, 2021 $ 2,233 $ 182 $ (473) $ (749) $ 1,193 Other comprehensive income (loss) (OCI) before reclassifications, net of tax (3,804) (1) 1 2 (3,802) Amounts reclassified from AOCI, net of tax (1) — 8 — 7 Net OCI, current period (3,805) (1) 9 2 (3,795) Balance, March 31, 2022 $ (1,572) $ 181 $ (464) $ (747) $ (2,602)
Pre-tax components of other comprehensive income (loss) and the related income tax expense (benefit) for each component [Table Text Block]	The following table presents the pre-tax components of the Company’s other comprehensive income (loss) and the related income tax expense (benefit). Three Months Ended (in millions) 2022 2021 Changes in net unrealized gains (losses) on investment securities: Having no credit losses recognized in the consolidated statement of income $ (4,829) $ (1,596) Income tax benefit (1,024) (339) Net of taxes (3,805) (1,257) Having credit losses recognized in the consolidated statement of income (1) — Income tax benefit — — Net of taxes (1) — Net changes in benefit plan assets and obligations 11 25 Income tax expense 2 5 Net of taxes 9 20 Net changes in unrealized foreign currency translation 2 26 Income tax expense — — Net of taxes 2 26 Total other comprehensive loss (4,817) (1,545) Total income tax benefit (1,022) (334) Total other comprehensive loss, net of taxes $ (3,795) $ (1,211)
Pre-tax and related income tax (expense) benefit components of the amounts reclassified from AOCI to the consolidated statement of income [Table Text Block]	The following table presents the pre-tax and related income tax (expense) benefit components of the amounts reclassified from the Company’s AOCI to the Company’s consolidated statement of income. Three Months Ended (in millions) 2022 2021 Reclassification adjustments related to unrealized gains (losses) on investment securities: Having no credit losses recognized in the consolidated statement of income (1) $ (2) $ (14) Income tax expense (2) (1) (3) Net of taxes (1) (11) Having credit losses recognized in the consolidated statement of income (1) — — Income tax benefit (2) — — Net of taxes — — Reclassification adjustment related to benefit plan assets and obligations: Claims and claim adjustment expenses (3) 4 10 General and administrative expenses (3) 6 15 Total 10 25 Income tax benefit (2) 2 5 Net of taxes 8 20 Reclassification adjustment related to foreign currency translation (1) — — Income tax benefit (2) — — Net of taxes — — Total reclassifications 8 11 Total income tax benefit 1 2 Total reclassifications, net of taxes $ 7 $ 9 _________________________________________________________ (1) (Increases) decreases net realized investment gains (losses) on the consolidated statement of income. (2) (Increases) decreases income tax expense on the consolidated statement of income. (3) Increases (decreases) expenses on the consolidated statement of income.

Earnings per Share (Table)

Earnings per Share (Table)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share Reconciliation [Abstract]
Earnings per share reconciliation [Table Text Block]	The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the periods presented: Three Months Ended (in millions, except per share amounts) 2022 2021 Basic and Diluted Net income, as reported $ 1,018 $ 733 Participating share-based awards — allocated income (7) (5) Net income available to common shareholders — basic and diluted $ 1,011 $ 728 Common Shares Basic Weighted average shares outstanding 240.9 252.1 Diluted Weighted average shares outstanding 240.9 252.1 Weighted average effects of dilutive securities — stock options and performance shares 2.8 2.0 Total 243.7 254.1 Net Income per Common Share Basic $ 4.20 $ 2.89 Diluted $ 4.15 $ 2.87

Share-Based Incentive Compens_2

Share-Based Incentive Compensation (Table)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Information for fully vested stock option awards [Table Text Block]	The following information relates to fully vested stock option awards at March 31, 2022: Stock Options Number Weighted Weighted Aggregate Vested at end of period (1) 7,437,915 $ 130.41 6.5 years $ 389 Exercisable at end of period 4,607,372 $ 122.31 5.2 years $ 278 _________________________________________________________ (1) Represents awards for which the requisite service has been rendered, including those that are retirement eligible.

Pension Plans, Retirement Ben_2

Pension Plans, Retirement Benefits and Savings Plans (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Summary of the components of net periodic benefit cost (benefit) for the Company's pension and postretirement benefit plans recognized in the consolidated statement of income [Table Text Block]	The following table summarizes the components of net periodic benefit cost (benefit) for the Company’s pension and postretirement benefit plans recognized in the consolidated statement of income for the three months ended March 31, 2022 and 2021. Pension Plans Postretirement Benefit Plans (for the three months ended March 31, in millions) 2022 2021 2022 2021 Net Periodic Benefit Cost (Benefit): Service cost $ 36 $ 35 $ — $ — Non-service cost (benefit): Interest cost on benefit obligation $ 25 $ 21 $ 1 $ 1 Expected return on plan assets (74) (69) — — Amortization of unrecognized: Prior service benefit — — (1) (1) Net actuarial (gain) loss 12 27 (1) (1) Total non-service cost (benefit) (37) (21) (1) (1) Net periodic benefit cost (benefit) $ (1) $ 14 $ (1) $ (1)
Consolidated statement of income line items impacted by service costs and non-service cost (benefit) [Table Text Block]	The following table indicates the line items in which the respective service cost and non-service cost (benefit) are presented in the consolidated statement of income for the three months ended March 31, 2022 and 2021. Pension Plans Postretirement Benefit Plans (for the three months ended March 31, in millions) 2022 2021 2022 2021 Service Cost: Claims and claim adjustment expenses $ 15 $ 14 $ — $ — General and administrative expenses 21 21 — — Total service cost 36 35 — — Non-Service Cost (Benefit): Claims and claim adjustment expenses (15) (9) — — General and administrative expenses (22) (12) (1) (1) Total non-service cost (benefit) (37) (21) (1) (1) Net periodic benefit cost (benefit) $ (1) $ 14 $ (1) $ (1)

Leases (Table)

Leases (Table)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Additional information regarding real estate operating leases [Table Text Block]	Lease expense is included in general and administrative expenses in the consolidated statement of income. Additional information regarding the Company’s real estate operating leases is as follows: Three Months Ended (in millions) 2022 2021 Lease cost Operating leases $ 21 $ 23 Short-term leases (1) — — Lease expense 21 23 Less: sublease income (2) — — Net lease cost $ 21 $ 23 Other information on operating leases Cash payments to settle a lease liability reported in cash flows $ 24 $ 26 Right-of-use assets obtained in exchange for new lease liabilities $ 2 $ 12 Weighted average discount rate 2.23 % 2.46 % Weighted average remaining lease term 4.8 years 4.9 years _________________________________________________________ (1) Leases with a term of twelve months or less are not recorded on the consolidated balance sheet.

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Segment reporting information
Number of reportable business segments | segment	3
Premiums	$ 8,014	$ 7,386
Net investment income	637	701
Fee income	103	101
Other revenues	78	81
Net realized investment gains (losses)	(23)	44
Total revenues	8,809	8,313
Core income (loss)	1,037	699
Net realized investment gains (losses), net of tax	(19)	34
Net income	1,018	733
Reportable Segments [Member]
Segment reporting information
Premiums	8,014	7,386
Net investment income	637	701
Fee income	103	101
Other revenues	78	81
Total segment revenues	8,832	8,269
Core income (loss)	1,111	768
Reportable Segments [Member] | Business Insurance [Member]
Segment reporting information
Premiums	4,071	3,799
Net investment income	468	523
Fee income	96	95
Other revenues	53	53
Total segment revenues	4,688	4,470
Core income (loss)	669	317
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member]
Segment reporting information
Premiums	3,823	3,528
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Workers' compensation [Member]
Segment reporting information
Premiums	830	811
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Automobile [Member]
Segment reporting information
Premiums	713	695
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Commercial property [Member]
Segment reporting information
Premiums	608	531
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | General liability [Member]
Segment reporting information
Premiums	688	607
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Commercial multi-peril [Member]
Segment reporting information
Premiums	967	870
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Other [Member]
Segment reporting information
Premiums	17	14
Reportable Segments [Member] | Business Insurance [Member] | International [Member]
Segment reporting information
Premiums	248	271
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Segment reporting information
Premiums	820	743
Net investment income	59	59
Fee income	0	0
Other revenues	4	5
Total segment revenues	883	807
Core income (loss)	217	137
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Domestic [Member]
Segment reporting information
Premiums	702	653
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Domestic [Member] | General liability [Member]
Segment reporting information
Premiums	373	331
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Domestic [Member] | Fidelity and surety [Member]
Segment reporting information
Premiums	274	266
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Domestic [Member] | Other [Member]
Segment reporting information
Premiums	55	56
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | International [Member]
Segment reporting information
Premiums	118	90
Reportable Segments [Member] | Personal Insurance [Member]
Segment reporting information
Premiums	3,123	2,844
Net investment income	110	119
Fee income	7	6
Other revenues	21	23
Total segment revenues	3,261	2,992
Core income (loss)	225	314
Reportable Segments [Member] | Personal Insurance [Member] | Domestic [Member]
Segment reporting information
Premiums	2,954	2,678
Reportable Segments [Member] | Personal Insurance [Member] | Domestic [Member] | Automobile [Member]
Segment reporting information
Premiums	1,458	1,370
Reportable Segments [Member] | Personal Insurance [Member] | Domestic [Member] | Homeowners and Other [Member]
Segment reporting information
Premiums	1,496	1,308
Reportable Segments [Member] | Personal Insurance [Member] | International [Member]
Segment reporting information
Premiums	169	166
Other [Member]
Segment reporting information
Core income (loss)	(74)	(69)
After-tax interest expense	$ 69	$ 65

Segment Information (Details) -

Segment Information (Details) - Assets by Segment - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets by segment
Total assets	$ 118,592	$ 120,466
Reportable Segments [Member]
Assets by segment
Total assets	117,734	119,482
Reportable Segments [Member] | Business Insurance [Member]
Assets by segment
Total assets	89,036	90,353
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Assets by segment
Total assets	10,171	10,146
Reportable Segments [Member] | Personal Insurance [Member]
Assets by segment
Total assets	18,527	18,983
Other assets [Member]
Assets by segment
Total assets	$ 858	$ 984

Investments (Details) - Investm

Investments (Details) - Investment Information, Debt Securities - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Investment disclosure details
Fixed maturities, amortized cost	$ 76,158		$ 74,751
Allowance for expected credit losses	4		3
Gross unrealized gains	846		3,356
Gross unrealized losses	2,614		294
Fixed maturities, at fair value	74,386		77,810
Proceeds from sales of fixed maturities classified as available for sale	1,044	$ 1,238
Gross realized gains	5	15
Gross realized losses	2	1
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member]
Investment disclosure details
Fixed maturities, amortized cost	3,356		3,574
Allowance for expected credit losses	0		0
Gross unrealized gains	7		20
Gross unrealized losses	190		32
Fixed maturities, at fair value	3,173		3,562
Obligations of U.S. states, municipalities and political subdivisions [Member]
Investment disclosure details
Fixed maturities, amortized cost	35,992		34,925
Allowance for expected credit losses	0		0
Gross unrealized gains	559		2,012
Gross unrealized losses	1,263		75
Fixed maturities, at fair value	35,288		36,862
Obligations of U.S. states, municipalities and political subdivisions, local general obligation [Member]
Investment disclosure details
Fixed maturities, amortized cost	19,345		18,668
Allowance for expected credit losses	0		0
Gross unrealized gains	275		1,045
Gross unrealized losses	821		46
Fixed maturities, at fair value	18,799		19,667
Obligations of U.S. states, municipalities and political subdivisions, revenue [Member]
Investment disclosure details
Fixed maturities, amortized cost	11,585		11,274
Allowance for expected credit losses	0		0
Gross unrealized gains	172		693
Gross unrealized losses	396		27
Fixed maturities, at fair value	11,361		11,940
Obligations of U.S. states, municipalities and political subdivisions, state general obligation [Member]
Investment disclosure details
Fixed maturities, amortized cost	1,180		1,158
Allowance for expected credit losses	0		0
Gross unrealized gains	19		67
Gross unrealized losses	46		2
Fixed maturities, at fair value	1,153		1,223
Obligations of U.S. states, municipalities and political subdivisions, pre-refunded [Member]
Investment disclosure details
Fixed maturities, amortized cost	3,882		3,825
Allowance for expected credit losses	0		0
Gross unrealized gains	93		207
Gross unrealized losses	0		0
Fixed maturities, at fair value	3,975		4,032
Debt securities issued by foreign governments [Member]
Investment disclosure details
Fixed maturities, amortized cost	1,073		1,041
Allowance for expected credit losses	0		0
Gross unrealized gains	0		7
Gross unrealized losses	32		7
Fixed maturities, at fair value	1,041		1,041
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Investment disclosure details
Fixed maturities, amortized cost	1,791		1,754
Allowance for expected credit losses	0		0
Gross unrealized gains	23		68
Gross unrealized losses	54		5
Fixed maturities, at fair value	1,760		1,817
Corporate and all other bonds [Member]
Investment disclosure details
Fixed maturities, amortized cost	33,946		33,457
Allowance for expected credit losses	4	$ 2	3	$ 2
Gross unrealized gains	257		1,249
Gross unrealized losses	1,075		175
Fixed maturities, at fair value	$ 33,124		$ 34,528

Investments (Details) - Inves_2

Investments (Details) - Investment Information, Equity Securities - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Investment disclosure details
Equity securities, cost	$ 761		$ 749
Gross gains	127		148
Gross losses	8		4
Equity securities, at fair value	880		893
Net recognized gains (losses) on equity securities still held	(14)	$ 23
Common stock [Member]
Investment disclosure details
Equity securities, cost	705		694
Gross gains	118		137
Gross losses	7		4
Equity securities, at fair value	816		827
Non-redeemable preferred stock [Member]
Investment disclosure details
Equity securities, cost	56		55
Gross gains	9		11
Gross losses	1		0
Equity securities, at fair value	$ 64		$ 66

Investments (Details) - Inves_3

Investments (Details) - Investment Information, Losses - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Investment disclosure details
Continuous unrealized loss position, less than 12 months, fair value	$ 30,406	$ 14,495
Continuous unrealized loss position, less than 12 months, gross unrealized losses	2,177	266
Continuous unrealized loss position, 12 months or longer, fair value	3,535	602
Continuous unrealized loss position, 12 months or longer, gross unrealized losses	437	28
Continuous unrealized loss position, total, fair value	33,941	15,097
Continuous unrealized loss position, total, gross unrealized losses	2,614	294
Unrealized investment losses on fixed maturity investments for which fair value is less than 80% of amortized cost, total	142
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member]
Investment disclosure details
Continuous unrealized loss position, less than 12 months, fair value	2,344	2,438
Continuous unrealized loss position, less than 12 months, gross unrealized losses	167	32
Continuous unrealized loss position, 12 months or longer, fair value	228	5
Continuous unrealized loss position, 12 months or longer, gross unrealized losses	23	0
Continuous unrealized loss position, total, fair value	2,572	2,443
Continuous unrealized loss position, total, gross unrealized losses	190	32
Obligations of U.S. states, municipalities and political subdivisions [Member]
Investment disclosure details
Continuous unrealized loss position, less than 12 months, fair value	10,923	3,873
Continuous unrealized loss position, less than 12 months, gross unrealized losses	1,100	69
Continuous unrealized loss position, 12 months or longer, fair value	1,177	153
Continuous unrealized loss position, 12 months or longer, gross unrealized losses	163	6
Continuous unrealized loss position, total, fair value	12,100	4,026
Continuous unrealized loss position, total, gross unrealized losses	1,263	75
Debt securities issued by foreign governments [Member]
Investment disclosure details
Continuous unrealized loss position, less than 12 months, fair value	633	452
Continuous unrealized loss position, less than 12 months, gross unrealized losses	21	7
Continuous unrealized loss position, 12 months or longer, fair value	145	7
Continuous unrealized loss position, 12 months or longer, gross unrealized losses	11	0
Continuous unrealized loss position, total, fair value	778	459
Continuous unrealized loss position, total, gross unrealized losses	32	7
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Investment disclosure details
Continuous unrealized loss position, less than 12 months, fair value	1,336	426
Continuous unrealized loss position, less than 12 months, gross unrealized losses	53	5
Continuous unrealized loss position, 12 months or longer, fair value	21	1
Continuous unrealized loss position, 12 months or longer, gross unrealized losses	1	0
Continuous unrealized loss position, total, fair value	1,357	427
Continuous unrealized loss position, total, gross unrealized losses	54	5
Corporate and all other bonds [Member]
Investment disclosure details
Continuous unrealized loss position, less than 12 months, fair value	15,170	7,306
Continuous unrealized loss position, less than 12 months, gross unrealized losses	836	153
Continuous unrealized loss position, 12 months or longer, fair value	1,964	436
Continuous unrealized loss position, 12 months or longer, gross unrealized losses	239	22
Continuous unrealized loss position, total, fair value	17,134	7,742
Continuous unrealized loss position, total, gross unrealized losses	$ 1,075	$ 175

Investments (Details) - Allowan

Investments (Details) - Allowance for Expected Credit Losses - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Allowance for expected credit losses [Roll Forward]
Allowance for expected credit losses on fixed maturities classified as available-for-sale, balance, beginning of period	$ 3
Allowance for expected credit losses on fixed maturities classified as available-for-sale, balance, end of period	4
Total net credit impairment charges included in net realized investment gains (losses) in the consolidated statement of income	$ 1	$ 0
Credit losses on fixed maturities recognized in the consolidated statement of income, as a percentage of the fixed maturity portfolio on a pre-tax basis (less than)	1.00%	1.00%
Credit losses on fixed maturities recognized in the consolidated statement of income, as a percentage of shareholders' equity on an after-tax basis (less than)	1.00%	1.00%
Corporate and all other bonds [Member]
Allowance for expected credit losses [Roll Forward]
Allowance for expected credit losses on fixed maturities classified as available-for-sale, balance, beginning of period	$ 3	$ 2
Additions for expected credit losses on securities where no credit losses were previously recognized	0	0
Additions (reductions) for expected credit losses on securities where credit losses were previously recognized	1	0
Reductions due to sales/defaults of credit-impaired securities	0	0
Reductions for impairments of securities which the Company intends to sell or more likely than not will be required to sell	0	0
Allowance for expected credit losses on fixed maturities classified as available-for-sale, balance, end of period	4	2
Credit impairment charges recognized in net realized investment gains (losses) on securities which the Company intends to sell and for which an allowance for credit loss was not previously recorded	$ 0	$ 0

Investments (Details) - Other I

Investments (Details) - Other Investments	3 Months Ended
	Mar. 31, 2022
Investments [Abstract]
Availability of financial information provided by hedge funds following the date of the reporting	1 month
Availability of financial information provided by private equity and real estate partnerships following the date of the reporting, maximum	3 months

Fair Value Measurements (Detail

Fair Value Measurements (Details)	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Percent of fixed maturities for which a pricing service estimates fair value	99.00%	99.00%

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Fair Value Hierarchy - Recurring basis [Member] - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	$ 75,285	$ 78,726
Other liabilities measured on a recurring basis	3	3
Fixed maturities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	74,386	77,810
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	3,173	3,562
Obligations of U.S. states, municipalities and political subdivisions [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	35,288	36,862
Debt securities issued by foreign governments [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	1,041	1,041
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	1,760	1,817
Corporate and all other bonds [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	33,124	34,528
Equity securities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	880	893
Common stock [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	816	827
Non-redeemable preferred stock [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	64	66
Other Investments [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	19	23
Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	3,708	4,110
Other liabilities measured on a recurring basis	0	0
Level 1 [Member] | Fixed maturities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	3,176	3,562
Level 1 [Member] | U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	3,173	3,562
Level 1 [Member] | Obligations of U.S. states, municipalities and political subdivisions [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	0	0
Level 1 [Member] | Debt securities issued by foreign governments [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	0	0
Level 1 [Member] | Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	0	0
Level 1 [Member] | Corporate and all other bonds [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	3	0
Level 1 [Member] | Equity securities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	515	530
Level 1 [Member] | Common stock [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	497	509
Level 1 [Member] | Non-redeemable preferred stock [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	18	21
Level 1 [Member] | Other Investments [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	17	18
Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	70,954	74,020
Other liabilities measured on a recurring basis	0	0
Level 2 [Member] | Fixed maturities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	70,934	74,000
Level 2 [Member] | U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	0	0
Level 2 [Member] | Obligations of U.S. states, municipalities and political subdivisions [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	35,284	36,858
Level 2 [Member] | Debt securities issued by foreign governments [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	1,041	1,041
Level 2 [Member] | Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	1,712	1,762
Level 2 [Member] | Corporate and all other bonds [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	32,897	34,339
Level 2 [Member] | Equity securities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	20	20
Level 2 [Member] | Common stock [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	0	0
Level 2 [Member] | Non-redeemable preferred stock [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	20	20
Level 2 [Member] | Other Investments [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	0	0
Level 3 [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	623	596
Other liabilities measured on a recurring basis	3	3
Estimated fair value of put/call option reported in other liabilities	3	3
Level 3 [Member] | Fixed maturities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	276	248
Level 3 [Member] | U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	0	0
Level 3 [Member] | Obligations of U.S. states, municipalities and political subdivisions [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	4	4
Level 3 [Member] | Debt securities issued by foreign governments [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	0	0
Level 3 [Member] | Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	48	55
Level 3 [Member] | Corporate and all other bonds [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	224	189
Level 3 [Member] | Equity securities [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	345	343
Level 3 [Member] | Common stock [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	319	318
Level 3 [Member] | Non-redeemable preferred stock [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	26	25
Level 3 [Member] | Investment in non-public common and preferred equity securities where the fair value estimate is determined either internally or by an external fund manager [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	345	343
Level 3 [Member] | Other Investments [Member]
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured
Total invested assets measured on a recurring basis	$ 2	$ 5

Fair Value Measurements (Deta_3

Fair Value Measurements (Details) - Financial Instruments - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Financial Instruments
Short-term securities	$ 3,467	$ 3,836
Carrying Value [Member]
Financial Instruments
Short-term securities	3,467	3,836
Debt	7,191	7,190
Commercial paper	100	100
Fair Value [Member]
Financial Instruments
Short-term securities	3,467	3,836
Debt	7,920	9,085
Commercial paper	100	100
Fair Value [Member] | Level 1 [Member]
Financial Instruments
Short-term securities	376	1,163
Debt	0	0
Commercial paper	0	0
Fair Value [Member] | Level 2 [Member]
Financial Instruments
Short-term securities	3,030	2,615
Debt	7,920	9,085
Commercial paper	100	100
Fair Value [Member] | Level 3 [Member]
Financial Instruments
Short-term securities	61	58
Debt	0	0
Commercial paper	$ 0	$ 0

Allowance for Expected Credit_3

Allowance for Expected Credit Losses (Details) - Changes in the Allowance for Expected Credit Losses on Premiums Receivable - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Credit Loss [Abstract]
Premiums receivable (net of allowance for expected credit losses), balance, beginning of period	$ 8,085	$ 7,829
Premiums receivable (net of allowance for expected credit losses), balance, end of period	8,593	8,167
Premiums receivable, allowance for expected credit losses [Roll Forward]
Premiums receivable, allowance for expected credit losses, beginning balance	107	105
Current period change for expected credit losses	18	16
Write-offs of uncollectible premiums receivable	36	11
Premiums receivable, allowance for expected credit losses, ending balance	$ 89	$ 110

Allowance for Expected Credit_4

Allowance for Expected Credit Losses (Details) - Changes in the Allowance for Estimated Uncollectible Reinsurance - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Credit Loss [Abstract]
Reinsurance recoverables (net of allowance for estimated uncollectible reinsurance), balance, beginning of period	$ 8,452	$ 8,350
Reinsurance recoverables (net of allowance for estimated uncollectible reinsurance), balance, end of period	8,734	8,345
Reinsurance recoverables, allowance for uncollectible reinsurance [Roll Forward]
Reinsurance recoverables, allowance for uncollectible reinsurance, beginning balance	141	146
Current period change for estimated uncollectible reinsurance	(6)	(4)
Write-offs of uncollectible reinsurance recoverables	0	0
Reinsurance recoverables, allowance for uncollectible reinsurance, ending balance	$ 135	$ 142

Allowance for Expected Credit_5

Allowance for Expected Credit Losses (Details) - Narrative - Reinsurer Concentration Risk [Member] $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Reinsurance Recoverables [Member] | Reinsurer Group Rated by A.M. Best [Member] | A.M. Best, Rating Provided [Member]
Reinsurance recoverables, credit quality indicator
Reinsurance recoverables, after deducting mandatory pools and associations and before allowances for expected credit losses	$ 5,940
Concentration risk percentage	84.00%
Reinsurance Recoverables [Member] | Reinsurer Group Not Rated by A.M. Best [Member]
Reinsurance recoverables, credit quality indicator
Concentration risk percentage	16.00%
Reinsurance Recoverables [Member] | Captive Insurance Companies [Member]
Reinsurance recoverables, credit quality indicator
Concentration risk percentage	6.00%
Reinsurance Recoverables [Member] | Voluntary Pools [Member]
Reinsurance recoverables, credit quality indicator
Concentration risk percentage	1.00%
Reinsurance Recoverables [Member] | Other Companies [Member]
Reinsurance recoverables, credit quality indicator
Concentration risk percentage	9.00%
Reinsurance Recoverables Rated by A.M. Best [Member] | Reinsurer Group Rated by A.M. Best [Member] | A.M. Best, A- Rating Or Better [Member]
Reinsurance recoverables, credit quality indicator
Concentration risk percentage	94.00%

Allowance for Expected Credit_6

Allowance for Expected Credit Losses (Details) - Changes in the Allowance for Expected Credit Losses on Contractholder Receivables (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Credit Loss [Abstract]
Contractholder receivables (net of the allowance for expected credit losses), balance, beginning of period	$ 3,890	$ 4,242
Contractholder receivables (net of the allowance for expected credit losses), balance, end of period	3,901	4,271
Contractholder receivables, allowance for expected credit losses [Roll Forward]
Contractholder receivables, allowance for expected credit losses, beginning balance	21	19
Current period change for expected credit losses	(2)	0
Write-offs of uncollectible contractholder receivables	0	0
Contractholder receivables, allowance for expected credit losses, ending balance	$ 19	$ 19

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Goodwill by segment
Goodwill	$ 4,001	$ 4,008
Reportable Segments [Member] | Business Insurance [Member]
Goodwill by segment
Goodwill	2,600	2,610
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Goodwill by segment
Goodwill	550	550
Reportable Segments [Member] | Personal Insurance [Member]
Goodwill by segment
Goodwill	825	822
Other [Member]
Goodwill by segment
Goodwill	$ 26	$ 26

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details) - Other Intangible Assets - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Other intangible assets by major asset class
Intangible assets subject to amortization, gross carrying amount	$ 307		$ 309
Intangible assets subject to amortization, accumulated amortization	232		229
Intangible assets subject to amortization, net	75		80
Intangible assets not subject to amortization	226		226
Total other intangible assets, gross carrying amount	533		535
Total other intangible assets, net	301		306
Amortization expense of intangible assets	3	$ 4
Estimated intangible asset amortization expense, remainder of 2022	10
Estimated intangible asset amortization expense, 2023	13
Estimated intangible asset amortization expense, 2024	12
Estimated intangible asset amortization expense, 2025	12
Estimated intangible asset amortization expense, 2026	11
Customer-related [Member]
Other intangible assets by major asset class
Intangible assets subject to amortization, gross carrying amount	102		104
Intangible assets subject to amortization, accumulated amortization	43		41
Intangible assets subject to amortization, net	59		63
Contract-based [Member]
Other intangible assets by major asset class
Intangible assets subject to amortization, gross carrying amount	205		205
Intangible assets subject to amortization, accumulated amortization	189		188
Intangible assets subject to amortization, net	16		$ 17
Insurance Contracts Acquired in Business Combination [Member]
Other intangible assets by major asset class
Estimated intangible asset amortization expense, remainder of 2022	2
Estimated intangible asset amortization expense, 2023	3
Estimated intangible asset amortization expense, 2024	2
Estimated intangible asset amortization expense, 2025	2
Estimated intangible asset amortization expense, 2026	$ 1

Insurance Claim Reserves (Detai

Insurance Claim Reserves (Details) - Reserve Detail for Claims and Claim Adjustment Expenses - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of beginning and ending reserve balances for claims and claim adjustment expenses [Roll Forward]
Claims and claim adjustment expense reserves at beginning of year	$ 56,907
Claims and claim adjustment expense reserves at end of period	57,572
Property-casualty [Member]
Reconciliation of beginning and ending reserve balances for claims and claim adjustment expenses [Roll Forward]
Claims and claim adjustment expense reserves at beginning of year	56,897	$ 54,510
Reinsurance recoverables on unpaid losses	8,209	8,153
Net reserves at beginning of year	48,688	46,357
Estimated claims and claim adjustment expenses for claims arising in the current year	5,133	5,242
Estimated decrease in claims and claim adjustment expenses for claims arising in prior years	(114)	(294)
Total increases	5,019	4,948
Claims and claim adjustment expense payments for claims arising in current year	1,074	1,059
Claims and claim adjustment expense payments for claims arising in prior years	3,498	3,012
Total payments	4,572	4,071
Unrealized foreign exchange (gain) loss	(13)	28
Net reserves at end of period	49,122	47,262
Reinsurance recoverables on unpaid losses	8,441	8,068
Claims and claim adjustment expense reserves at end of period	57,563	$ 55,330
Amount of increase in gross claims and claim adjustment expense reserves	666
Amount of increase in reinsurance recoverables on unpaid losses	232
Accident and health [Member]
Reconciliation of beginning and ending reserve balances for claims and claim adjustment expenses [Roll Forward]
Claims and claim adjustment expense reserves at beginning of year	10
Claims and claim adjustment expense reserves at end of period	$ 9

Insurance Claim Reserves (Det_2

Insurance Claim Reserves (Details) - Prior Year Reserve Development - Property-casualty [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Liability for claims and claim adjustment expense
Net favorable (unfavorable) prior year reserve development included in estimated claims and claim adjustment expenses incurred for claims arising in prior years	$ 114	$ 294
Net favorable (unfavorable) prior year reserve development impacting the Company's results of operations	153	317
Accretion expense	12	12
Business Insurance [Member]
Liability for claims and claim adjustment expense
Net favorable (unfavorable) prior year reserve development impacting the Company's results of operations	113	134
Subrogation benefit		10
Bond & Specialty Insurance [Member]
Liability for claims and claim adjustment expense
Net favorable (unfavorable) prior year reserve development impacting the Company's results of operations	35	15
Personal Insurance [Member]
Liability for claims and claim adjustment expense
Net favorable (unfavorable) prior year reserve development impacting the Company's results of operations	$ 5	168
Subrogation benefit		$ 62

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated other comprehensive income (loss) [Roll Forward]
Balance, beginning of period	$ 28,887
Other comprehensive loss, net of taxes	(3,795)	$ (1,211)
Balance, end of period	25,531	28,269
Pre-tax components of other comprehensive income (loss) and the related income tax expense (benefit)
Other comprehensive income (loss), before taxes	(4,817)	(1,545)
Income tax expense (benefit)	(1,022)	(334)
Other comprehensive loss, net of taxes	(3,795)	(1,211)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Balance, beginning of period	1,193	2,502
Other comprehensive income (loss) before reclassifications	(3,802)
Amounts reclassified from accumulated other comprehensive income, net of tax	7
Other comprehensive loss, net of taxes	(3,795)	(1,211)
Balance, end of period	(2,602)	1,291
Pre-tax components of other comprehensive income (loss) and the related income tax expense (benefit)
Other comprehensive income (loss), before taxes	(4,817)	(1,545)
Income tax expense (benefit)	(1,022)	(334)
Other comprehensive loss, net of taxes	(3,795)	(1,211)
Changes in Net Unrealized Gains (Losses) on Investment Securities Having No Credit Losses Recognized in the Consolidated Statement of Income [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Balance, beginning of period	2,233
Other comprehensive income (loss) before reclassifications	(3,804)
Amounts reclassified from accumulated other comprehensive income, net of tax	(1)
Other comprehensive loss, net of taxes	(3,805)	(1,257)
Balance, end of period	(1,572)
Pre-tax components of other comprehensive income (loss) and the related income tax expense (benefit)
Other comprehensive income (loss), before taxes	(4,829)	(1,596)
Income tax expense (benefit)	(1,024)	(339)
Other comprehensive loss, net of taxes	(3,805)	(1,257)
Changes in Net Unrealized Gains (Losses) on Investment Securities Having Credit Losses Recognized in the Consolidated Statement of Income [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Balance, beginning of period	182
Other comprehensive income (loss) before reclassifications	(1)
Amounts reclassified from accumulated other comprehensive income, net of tax	0
Other comprehensive loss, net of taxes	(1)	0
Balance, end of period	181
Pre-tax components of other comprehensive income (loss) and the related income tax expense (benefit)
Other comprehensive income (loss), before taxes	(1)	0
Income tax expense (benefit)	0	0
Other comprehensive loss, net of taxes	(1)	0
Net Benefit Plan Assets and Obligations Recognized in Shareholders' Equity [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Balance, beginning of period	(473)
Other comprehensive income (loss) before reclassifications	1
Amounts reclassified from accumulated other comprehensive income, net of tax	8
Other comprehensive loss, net of taxes	9	20
Balance, end of period	(464)
Pre-tax components of other comprehensive income (loss) and the related income tax expense (benefit)
Other comprehensive income (loss), before taxes	11	25
Income tax expense (benefit)	2	5
Other comprehensive loss, net of taxes	9	20
Net Unrealized Foreign Currency Translation [Member]
Accumulated other comprehensive income (loss) [Roll Forward]
Balance, beginning of period	(749)
Other comprehensive income (loss) before reclassifications	2
Amounts reclassified from accumulated other comprehensive income, net of tax	0
Other comprehensive loss, net of taxes	2	26
Balance, end of period	(747)
Pre-tax components of other comprehensive income (loss) and the related income tax expense (benefit)
Other comprehensive income (loss), before taxes	2	26
Income tax expense (benefit)	0	0
Other comprehensive loss, net of taxes	$ 2	$ 26

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Details) - Reclassifications - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification adjustment impacting net realized investment gains (losses) on the income statement	$ 23	$ (44)
Reclassification adjustment impacting claims and claim adjustment expenses on the income statement	5,039	4,970
Reclassification adjustment impacting general and administrative expense on the income statement	1,191	1,163
Total reclassifications	(1,182)	(891)
Income tax (expense) benefit	(164)	(158)
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes	(1,018)	(733)
Accumulated Other Comprehensive Income (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Total reclassifications	8	11
Income tax (expense) benefit	1	2
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes	7	9
Changes in Net Unrealized Gains (Losses) on Investment Securities Having No Credit Losses Recognized in the Consolidated Statement of Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification adjustment impacting net realized investment gains (losses) on the income statement	(2)	(14)
Income tax (expense) benefit	(1)	(3)
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes	(1)	(11)
Changes in Net Unrealized Gains (Losses) on Investment Securities Having Credit Losses Recognized in the Consolidated Statement of Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification adjustment impacting net realized investment gains (losses) on the income statement	0	0
Income tax (expense) benefit	0	0
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes	0	0
Net Benefit Plan Assets and Obligations Recognized in Shareholders' Equity [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification adjustment impacting claims and claim adjustment expenses on the income statement	4	10
Reclassification adjustment impacting general and administrative expense on the income statement	6	15
Total reclassifications	10	25
Income tax (expense) benefit	2	5
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes	8	20
Net Unrealized Foreign Currency Translation [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification adjustment impacting net realized investment gains (losses) on the income statement	0	0
Income tax (expense) benefit	0	0
Amounts reclassified from accumulated other comprehensive income (loss), net of taxes	$ 0	$ 0

Common Share Repurchases (Detai

Common Share Repurchases (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]
Number of shares repurchased (in shares) | shares	2.9
Cost of shares repurchased	$ 500
Average cost per share repurchased (in dollars per share) | $ / shares	$ 172.10
Number of shares acquired to cover tax withholding costs and exercise costs (in shares) | shares	0.4
Cost of shares acquired to cover tax withholding costs and exercise costs	$ 59
Remaining capacity under share repurchase authorization	$ 3,510

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share Reconciliation [Abstract]
Net income	$ 1,018	$ 733
Participating share-based awards — allocated income	(7)	(5)
Net income available to common shareholders -- basic	1,011	728
Net income available to common shareholders -- diluted	$ 1,011	$ 728
Weighted average shares outstanding, basic (in shares)	240.9	252.1
Weighted average effects of dilutive securities - stock options and performance shares (in shares)	2.8	2
Weighted average shares outstanding, diluted (in shares)	243.7	254.1
Net income per common share, basic (in dollars per share)	$ 4.20	$ 2.89
Net income per common share, diluted (in dollars per share)	$ 4.15	$ 2.87

Share-Based Incentive Compens_3

Share-Based Incentive Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock options vested at end of period, number (in shares)	7,437,915
Stock options vested at end of period, weighted average exercise price (in dollars per share)	$ 130.41
Stock options vested at end of period, weighted average contractual life remaining (in years)	6 years 6 months
Stock options vested at end of period, aggregate intrinsic value	$ 389
Stock options exercisable at end of period, number (in shares)	4,607,372
Stock options exercisable at end of period, weighted average exercise price (in dollars per share)	$ 122.31
Stock options exercisable at end of period, weighted average contractual life remaining (in years)	5 years 2 months 12 days
Stock options exercisable at end of period, aggregate intrinsic value	$ 278
Total compensation cost recognized in earnings for all share-based incentive compensation awards	59	$ 53
Tax benefit recognized in earnings related to compensation costs	10	$ 9
Total unrecognized compensation cost related to all nonvested share-based incentive compensation awards	$ 278
Weighted-average period of recognition for unrecognized compensation cost (in years)	2 years 2 months 12 days

Pension Plans, Retirement Ben_3

Pension Plans, Retirement Benefits and Savings Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Pension Plans [Member]
Defined benefit plan disclosure
Service cost	$ 36	$ 35
Interest cost on benefit obligation	25	21
Expected return on plan assets	(74)	(69)
Net periodic benefit cost (benefit), amortization of unrecognized prior service benefit	0	0
Net periodic benefit cost (benefit), amortization of unrecognized net actuarial (gain) loss	12	27
Total non-service cost (benefit)	(37)	(21)
Net periodic benefit cost (benefit)	(1)	14
Pension Plans [Member] | Claims and claim adjustment expenses [Member]
Defined benefit plan disclosure
Service cost	15	14
Total non-service cost (benefit)	(15)	(9)
Pension Plans [Member] | General and administrative expenses [Member]
Defined benefit plan disclosure
Service cost	21	21
Total non-service cost (benefit)	(22)	(12)
Postretirement Benefit Plans [Member]
Defined benefit plan disclosure
Service cost	0	0
Interest cost on benefit obligation	1	1
Expected return on plan assets	0	0
Net periodic benefit cost (benefit), amortization of unrecognized prior service benefit	(1)	(1)
Net periodic benefit cost (benefit), amortization of unrecognized net actuarial (gain) loss	(1)	(1)
Total non-service cost (benefit)	(1)	(1)
Net periodic benefit cost (benefit)	(1)	(1)
Postretirement Benefit Plans [Member] | Claims and claim adjustment expenses [Member]
Defined benefit plan disclosure
Service cost	0	0
Total non-service cost (benefit)	0	0
Postretirement Benefit Plans [Member] | General and administrative expenses [Member]
Defined benefit plan disclosure
Service cost	0	0
Total non-service cost (benefit)	$ (1)	$ (1)

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating leases	$ 21	$ 23
Short-term leases	0	0
Lease expense	21	23
Less: sublease income	0	0
Net lease cost	21	23
Cash payments to settle a lease liability reported in cash flows	24	26
Right-of-use assets obtained in exchange for new lease liabilities	$ 2	$ 12
Weighted average discount rate (percent)	2.23%	2.46%
Weighted average remaining lease term (in years)	4 years 9 months 18 days	4 years 10 months 24 days

Contingencies, Commitments an_2

Contingencies, Commitments and Guarantees (Details) - Commitments - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Contingencies, Commitments and Guarantees [Abstract]
Unfunded commitments to private equity limited partnerships, real estate partnerships and others	$ 1,720	$ 1,700

Contingencies, Commitments an_3

Contingencies, Commitments and Guarantees (Details) - Guarantees $ in Millions	Mar. 31, 2022USD ($)
Indemnifications related to the sale of businesses [Member]
Guarantor obligations
Maximum amount of contingent obligation	$ 351
Guarantees of certain insurance policy obligations [Member]
Guarantor obligations
Maximum amount of contingent obligation	480
Amount indemnified by a third party	$ 480