The Travelers Companies, Inc. (TRV) 10-Q 20 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 16, 2015
Document and Entity Information
Registrant name	Travelers Companies, Inc.
Central index key	86,312
Document type	10-Q
Document period end date	Sep. 30, 2015
Amendment flag	false
Current fiscal year end date	--12-31
Well-known seasoned issuer	Yes
Voluntary filers	No
Current reporting status	Yes
Filer category	Large Accelerated Filer
Common stock shares outstanding		304,218,796
Document fiscal year focus	2,015
Document fiscal period focus	Q3

Consolidated Statement of Incom

Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Premiums		$ 6,032	$ 5,983	$ 17,851	$ 17,734
Net investment income		614	719	1,838	2,150
Fee income		112	110	334	329
Net realized investment gains	[1]	15	40	35	57
Other revenues		21	34	68	109
Total revenues		6,794	6,886	20,126	20,379
Claims and expenses
Claims and claim adjustment expenses		3,382	3,520	10,360	10,661
Amortization of deferred acquisition costs		987	984	2,913	2,899
General and administrative expenses		1,024	1,031	3,044	2,913
Interest expense		94	93	278	277
Total claims and expenses		5,487	5,628	16,595	16,750
Income before income taxes		1,307	1,258	3,531	3,629
Income tax expense		379	339	958	975
Net income		$ 928	$ 919	$ 2,573	$ 2,654
Net income per share
Basic		$ 3	$ 2.72	$ 8.13	$ 7.68
Diluted		$ 2.97	$ 2.69	$ 8.04	$ 7.60
Weighted average number of common shares outstanding
Basic		307.6	335.1	314.3	342.9
Diluted		311	338.9	317.7	346.5
Cash dividends declared per common share		$ 0.61	$ 0.55	$ 1.77	$ 1.60
[1]	Total other-than-temporary impairment (OTTI) losses were $(14) million and $(8) million for the three months ended September 30, 2015 and 2014, respectively, and $(26) million and $(16) million for the nine months ended September 30, 2015 and 2014, respectively. Of total OTTI, credit losses of $(14) million and $(10) million for the three months ended September 30, 2015 and 2014, respectively, and $(23) million and $(20) million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $(3) million and $4 million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in other comprehensive income (loss) as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income.

Consolidated Statement of Inco3

Consolidated Statement of Income Parentheticals (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statement of Income (Unaudited)
Total other-than-temporary impairment losses	$ (14)	$ (8)	$ (26)	$ (16)
Other-than-temporary impairment, credit losses recognized in net realized investment gains	(14)	(10)	(23)	(20)
Unrealized gains (losses) from other changes in total other-than-temporary impairments recognized in other comprehensive income (loss) as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	$ 0	$ 2	$ (3)	$ 4

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated Statement of Comprehensive Income (Unaudited)
Net income	$ 928	$ 919	$ 2,573	$ 2,654
Other comprehensive income (loss):
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	67	(154)	(829)	901
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	(3)	1	(13)	4
Net changes in benefit plan assets and obligations	24	15	71	45
Net changes in unrealized foreign currency translation	(227)	(203)	(407)	(149)
Other comprehensive income (loss) before income taxes	(139)	(341)	(1,178)	801
Income tax expense (benefit)	(2)	(79)	(330)	311
Other comprehensive income (loss), net of taxes	(137)	(262)	(848)	490
Comprehensive income	$ 791	$ 657	$ 1,725	$ 3,144

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited at September 30, 2015) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Assets
Fixed maturities, available for sale, at fair value (amortized cost $59,688 and $60,801)	$ 61,671	$ 63,474
Equity securities, available for sale, at fair value (cost $553 and $579)	719	899
Real estate investments	1,011	938
Short-term securities	5,128	4,364
Other investments	3,530	3,586
Total investments	72,059	73,261
Cash	344	374	$ 367	$ 294
Investment income accrued	613	685
Premiums receivable	6,559	6,298
Reinsurance recoverables	8,949	9,260
Ceded unearned premiums	789	678
Deferred acquisition costs	1,904	1,835
Deferred taxes	241	33
Contractholder receivables	4,390	4,362
Goodwill	3,579	3,611
Other intangible assets	280	304
Other assets	2,403	2,377
Total assets	102,110	103,078
Liabilities
Claims and claim adjustment expense reserves	48,596	49,850
Unearned premium reserves	12,284	11,839
Contractholder payables	4,390	4,362
Payables for reinsurance premiums	439	336
Debt	6,743	6,349
Other liabilities	5,625	5,506
Total liabilities	78,077	78,242
Shareholders' equity
Common stock (1,750.0 shares authorized; 304.2 and 322.2 shares issued and outstanding)	22,099	21,843	21,764	21,500
Retained earnings	29,263	27,251	26,394	24,291
Accumulated other comprehensive income	32	880	1,300	810
Treasury stock, at cost (458.8 and 437.3 shares)	(27,361)	(25,138)	(24,137)	$ (21,805)
Total shareholders' equity	24,033	24,836	$ 25,321
Total liabilities and shareholders' equity	$ 102,110	$ 103,078

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parentheticals (Unaudited at September 30, 2015) - USD ($) shares in Millions, $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Consolidated Balance Sheet (Unaudited at September 30, 2015)
Fixed maturities, available for sale, amortized cost	$ 59,688	$ 60,801
Equity securities, available for sale, cost	$ 553	$ 579
Common stock, shares authorized	1,750	1,750
Common stock, shares issued	304.2	322.2
Common stock, shares outstanding	304.2	322.2	331.4	353.5
Treasury stock, at cost, shares	458.8	437.3

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) shares in Millions, $ in Millions	USD ($)shares
Balance, beginning of year at Dec. 31, 2013	$ 21,500
Common stock
Employee share-based compensation	120
Compensation amortization under share-based plans and other changes	144
Balance, end of period at Sep. 30, 2014	21,764
Balance, beginning of year at Dec. 31, 2013	24,291
Retained earnings
Net income	2,654
Dividends	(553)
Other	2
Balance, end of period at Sep. 30, 2014	26,394
Balance, beginning of year at Dec. 31, 2013	810
Accumulated other comprehensive income, net of tax
Other comprehensive income (loss)	490
Balance, end of period at Sep. 30, 2014	1,300
Balance, beginning of year at Dec. 31, 2013	(21,805)
Treasury stock (at cost)
Treasury stock acquired - share repurchase authorization	(2,275)
Net shares acquired related to employee share-based compensation plans	(57)
Balance, end of period at Sep. 30, 2014	$ (24,137)
Balance, beginning of year at Dec. 31, 2013 | shares	353.5
Common shares outstanding
Treasury stock acquired - share repurchase authorization | shares	(25.4)
Net shares issued under employee share-based compensation plans | shares	3.3
Balance, end of period at Sep. 30, 2014 | shares	331.4
Treasury stock (at cost)
Total shareholders' equity	$ 25,321
Total shareholders' equity	24,836
Balance, beginning of year at Dec. 31, 2014	21,843
Common stock
Employee share-based compensation	105
Compensation amortization under share-based plans and other changes	151
Balance, end of period at Sep. 30, 2015	22,099
Balance, beginning of year at Dec. 31, 2014	27,251
Retained earnings
Net income	2,573
Dividends	(561)
Balance, end of period at Sep. 30, 2015	29,263
Balance, beginning of year at Dec. 31, 2014	880
Accumulated other comprehensive income, net of tax
Other comprehensive income (loss)	(848)
Balance, end of period at Sep. 30, 2015	32
Balance, beginning of year at Dec. 31, 2014	(25,138)
Treasury stock (at cost)
Treasury stock acquired - share repurchase authorization	(2,150)
Net shares acquired related to employee share-based compensation plans	(73)
Balance, end of period at Sep. 30, 2015	$ (27,361)
Balance, beginning of year at Dec. 31, 2014 | shares	322.2
Common shares outstanding
Treasury stock acquired - share repurchase authorization | shares	(20.8)
Net shares issued under employee share-based compensation plans | shares	2.8
Balance, end of period at Sep. 30, 2015 | shares	304.2
Treasury stock (at cost)
Total shareholders' equity	$ 24,033

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net income		$ 2,573	$ 2,654
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized investment gains	[1]	(35)	(57)
Depreciation and amortization		620	653
Deferred federal income tax expense		105	93
Amortization of deferred acquisition costs		2,913	2,899
Equity in income from other investments		(214)	(412)
Premiums receivable		(300)	(334)
Reinsurance recoverables		247	403
Deferred acquisition costs		(2,998)	(2,993)
Claims and claim adjustment expense reserves		(874)	(298)
Unearned premium reserves		542	379
Other operating activities		95	181
Net cash provided by operating activities		2,674	3,168
Cash flows from investing activities
Proceeds from maturities of fixed maturities		8,805	7,975
Proceeds from sales of investments:
Fixed maturities		1,555	927
Equity securities		38	128
Real estate investments		15	5
Other investments		505	612
Purchases of investments:
Fixed maturities		(9,972)	(8,237)
Equity securities		(31)	(47)
Real estate investments		(116)	(41)
Other investments		(389)	(406)
Net purchases of short-term securities		(782)	(1,163)
Securities transactions in course of settlement		103	119
Acquisition, net of cash acquired			(12)
Other investing activities		(222)	(262)
Net cash used in investing activities		(491)	(402)
Cash flows from financing activities
Issuance of debt		392
Treasury stock acquired - share repurchase authorization		(2,150)	(2,275)
Treasury stock acquired - net employee share-based compensation		(73)	(56)
Dividends paid to shareholders		(557)	(549)
Issuance of common stock - employee share options		142	154
Excess tax benefits from share-based payment arrangements		42	38
Net cash used in financing activities		(2,204)	(2,688)
Effect of exchange rate changes on cash		(9)	(5)
Net increase (decrease) in cash		(30)	73
Cash at beginning of year		374	294
Cash at end of period		344	367
Supplemental disclosure of cash flow information
Income taxes paid		882	785
Interest paid		$ 217	$ 217
[1]	Total other-than-temporary impairment (OTTI) losses were $(14) million and $(8) million for the three months ended September 30, 2015 and 2014, respectively, and $(26) million and $(16) million for the nine months ended September 30, 2015 and 2014, respectively. Of total OTTI, credit losses of $(14) million and $(10) million for the three months ended September 30, 2015 and 2014, respectively, and $(23) million and $(20) million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $(3) million and $4 million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in other comprehensive income (loss) as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income.

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
	Sep. 30, 2015
Basis of Presentation and Accounting Policies disclosure
Basis of Presentation and Accounting Policies disclosure [Text Block]	1. 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, 2014 (the Company’s 2014 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. Adoption of Accounting Standards Updates Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2014, the Financial Accounting Standards Board (FASB) issued revised guidance to reduce diversity in practice for reporting discontinued operations. Under the previous guidance, any component of an entity that was a reportable segment, an operating segment, a reporting unit, a subsidiary or an asset group was eligible for discontinued operations presentation. The revised guidance only allows disposals of components of an entity that represent a strategic shift (e.g., disposal of a major geographical area, a major line of business, a major equity method investment or other major parts of an entity) and that have a major effect on a reporting entity’s operations and financial results to be reported as discontinued operations. The revised guidance also requires expanded disclosure in the financial statements for discontinued operations as well as for disposals of significant components of an entity that do not qualify for discontinued operations presentation. The updated guidance was effective for the quarter ending March 31, 2015. The adoption of this guidance did not have any effect on the Company’s results of operations, financial position or liquidity. Accounting Standards Not Yet Adopted Amendments to the Consolidation Analysis In February 2015, the FASB issued updated guidance that makes targeted amendments to the current consolidation accounting guidance. The update is in response to accounting complexity concerns, particularly from the asset management industry. The guidance simplifies consolidation accounting by reducing the number of approaches to consolidation, provides a scope exception to registered money market funds and similar unregistered money market funds and ends the indefinite deferral granted to investment companies from applying the variable interest entity guidance. The updated guidance is effective for annual and interim periods beginning after December 15, 2015. The adoption of this guidance is not expected to have a material effect on the Company’s results of operations, financial position or liquidity. Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued updated guidance to clarify the required presentation of debt issuance costs. The amended guidance requires that debt issuance costs be presented in the balance sheet as a direct reduction from the carrying amount of the recognized debt liability, consistent with the treatment of debt discounts. Amortization of debt issuance costs is to be reported as interest expense. The recognition and measurement guidance for debt issuance costs are not affected by the updated guidance. The updated guidance is effective for reporting periods beginning after December 15, 2015. Early adoption is permitted. The updated guidance is consistent with the Company’s accounting policy and its adoption will not have any effect on the Company’s results of operations, financial position or liquidity. Simplifying the Accounting for Measurement-Period Adjustments In September 2015, the FASB issued updated guidance regarding business combinations that requires an acquirer to recognize post-close measurement adjustments for provisional amounts in the period the adjustment amounts are determined rather than retrospectively. The acquirer is also required to recognize, in the same period’s financial statements, th Additional Accounting Standards Not Yet Adopted Revenue from Contracts with Customers In July 2015, the FASB deferred the effective date of the updated guidance on revenue recognition by one year to the quarter ending March 31, 2018. The adoption of this guidance is not expected to have a material effect on the Company’s results of operations, financial position or liquidity. For additional information regarding Revenue from Contracts with Customers ” Nature of Operations The Company is organized into three reportable business segments: Business and International 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 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 “

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Information disclosure
Segment Information disclosure [Text Block]	2. SEGMENT INFORMATION The following tables summarize the components of the Company’s revenues, operating income and total assets by reportable business segments: (for the three months Business and Bond & Specialty Personal Total 2015 Premiums $ 3,653 $ 539 $ 1,840 $ 6,032 Net investment income 471 56 87 614 Fee income 112 — — 112 Other revenues 5 4 9 18 Total operating revenues (1) $ 4,241 $ 599 $ 1,936 $ 6,776 Operating income (1) $ 546 $ 196 $ 241 $ 983 2014 Premiums $ 3,660 $ 527 $ 1,796 $ 5,983 Net investment income 557 64 98 719 Fee income 110 — — 110 Other revenues 10 5 19 34 Total operating revenues (1) $ 4,337 $ 596 $ 1,913 $ 6,846 Operating income (1) $ 552 $ 165 $ 239 $ 956 (1) (for the nine months Business and Bond & Specialty Personal Total 2015 Premiums $ 10,882 $ 1,567 $ 5,402 $ 17,851 Net investment income 1,412 169 257 1,838 Fee income 334 — — 334 Other revenues 18 14 33 65 Total operating revenues (1) $ 12,646 $ 1,750 $ 5,692 $ 20,088 Operating income (1) $ 1,604 $ 471 $ 667 $ 2,742 2014 Premiums $ 10,849 $ 1,554 $ 5,331 $ 17,734 Net investment income 1,666 192 292 2,150 Fee income 329 — — 329 Other revenues 32 15 62 109 Total operating revenues (1) $ 12,876 $ 1,761 $ 5,685 $ 20,322 Operating income (1) $ 1,717 $ 511 $ 582 $ 2,810 (1) Business Segment Reconciliations Three Months Ended Nine Months Ended (in millions) 2015 2014 2015 2014 Revenue reconciliation Earned premiums Business and International Insurance: Domestic: Workers’ compensation $ 970 $ 928 $ 2,889 $ 2,759 Commercial automobile 486 481 1,432 1,422 Commercial property 446 442 1,329 1,310 General liability 487 472 1,432 1,376 Commercial multi-peril 790 774 2,344 2,292 Other 10 10 30 31 Total Domestic 3,189 3,107 9,456 9,190 International 464 553 1,426 1,659 Total Business and International Insurance 3,653 3,660 10,882 10,849 Bond & Specialty Insurance: Fidelity and surety 254 240 719 700 General liability 240 243 716 721 Other 45 44 132 133 Total Bond & Specialty Insurance 539 527 1,567 1,554 Personal Insurance: Automobile 893 835 2,592 2,471 Homeowners and other 947 961 2,810 2,860 Total Personal Insurance 1,840 1,796 5,402 5,331 Total earned premiums 6,032 5,983 17,851 17,734 Net investment income 614 719 1,838 2,150 Fee income 112 110 334 329 Other revenues 18 34 65 109 Total operating revenues for reportable segments 6,776 6,846 20,088 20,322 Other revenues 3 — 3 — Net realized investment gains 15 40 35 57 Total consolidated revenues $ 6,794 $ 6,886 $ 20,126 $ 20,379 Income reconciliation, net of tax Total operating income for reportable segments $ 983 $ 956 $ 2,742 $ 2,810 Interest Expense and Other (1) (65 ) (63 ) (191 ) (192 ) Total operating income 918 893 2,551 2,618 Net realized investment gains 10 26 22 36 Total consolidated net income $ 928 $ 919 $ 2,573 $ 2,654 (1) (in millions) September 30, December 31, Asset reconciliation: Business and International Insurance $ 80,905 $ 82,309 Bond & Specialty Insurance 7,828 7,525 Personal Insurance 12,946 12,798 Total assets for reportable segments 101,679 102,632 Other assets (1) 431 446 Total consolidated assets $ 102,110 $ 103,078 (1)

Investments

Investments	9 Months Ended
	Sep. 30, 2015
Investments disclosure
Investments disclosure [Text Block]	3. INVESTMENTS Fixed Maturities The amortized cost and fair value of investments in fixed maturities classified as available for sale were as follows: Amortized Gross Unrealized Fair (at September 30, 2015, in millions) Cost Gains Losses Value U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,324 $ 24 $ 3 $ 2,345 Obligations of states, municipalities and political subdivisions: Pre-refunded 6,287 302 — 6,589 All other 24,075 1,009 46 25,038 Total obligations of states, municipalities and political subdivisions 30,362 1,311 46 31,627 Debt securities issued by foreign governments 1,939 50 — 1,989 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,874 142 3 2,013 All other corporate bonds 23,082 687 187 23,582 Redeemable preferred stock 107 8 — 115 Total $ 59,688 $ 2,222 $ 239 $ 61,671 Amortized Gross Unrealized Fair (at December 31, 2014, in millions) Cost Gains Losses Value U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,022 $ 36 $ 5 $ 2,053 Obligations of states, municipalities and political subdivisions: Pre-refunded 7,229 332 — 7,561 All other 24,666 1,356 10 26,012 Total obligations of states, municipalities and political subdivisions 31,895 1,688 10 33,573 Debt securities issued by foreign governments 2,320 48 — 2,368 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 2,052 165 4 2,213 All other corporate bonds 22,390 844 99 23,135 Redeemable preferred stock 122 10 — 132 Total $ 60,801 $ 2,791 $ 118 $ 63,474 Pre-refunded bonds of $6.59 billion and $7.56 billion at September 30, 2015 and December 31, 2014, respectively, were bonds for which states or municipalities have established irrevocable trusts, almost exclusively comprised of U.S. Treasury securities, which were created to satisfy their responsibility for payments of principal and interest. Proceeds from sales of fixed maturities classified as available for sale were $1.56 billion and $927 million during the nine months ended September 30, 2015 and 2014, respectively. Gross gains of $74 million and $34 million and gross losses of $6 million and $6 million were realized on those sales during the nine months ended September 30, 2015 and 2014, respectively. Equity Securities The cost and fair value of investments in equity securities were as follows: Gross Unrealized Fair (at September 30, 2015, in millions) Cost Gains Losses Value Public common stock $ 398 $ 164 $ 18 $ 544 Non-redeemable preferred stock 155 27 7 175 Total $ 553 $ 191 $ 25 $ 719 Gross Unrealized Fair (at December 31, 2014, in millions) Cost Gains Losses Value Public common stock $ 400 $ 295 $ 4 $ 691 Non-redeemable preferred stock 179 31 2 208 Total $ 579 $ 326 $ 6 $ 899 Proceeds from sales of equity securities were $38 million and $128 million during the nine months ended September 30, 2015 and 2014, respectively. Gross gains of $7 million and $20 million and gross losses of $4 million and $3 million were realized on those sales during the nine months ended September 30, 2015 and 2014, respectively. Unrealized Investment Losses The following tables summarize, for all investments in an unrealized loss position at September 30, 2015 and December 31, 2014, the aggregate fair value and gross unrealized loss by 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 2014 Annual Report. Less than 12 months 12 months or longer Total (at September 30, 2015, 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 $ 499 $ 2 $ 25 $ 1 $ 524 $ 3 Obligations of states, municipalities and political subdivisions 3,604 41 142 5 3,746 46 Debt securities issued by foreign governments 112 — — — 112 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 89 1 62 2 151 3 All other corporate bonds 5,322 130 696 57 6,018 187 Redeemable preferred stock 8 — — — 8 — Total fixed maturities 9,634 174 925 65 10,559 239 Equity securities Public common stock 75 18 34 — 109 18 Non-redeemable preferred stock 52 5 46 2 98 7 Total equity securities 127 23 80 2 207 25 Total $ 9,761 $ 197 $ 1,005 $ 67 $ 10,766 $ 264 Less than 12 months 12 months or longer Total (at December 31, 2014, 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 $ 180 $ 2 $ 125 $ 3 $ 305 $ 5 Obligations of states, municipalities and political subdivisions 173 1 797 9 970 10 Debt securities issued by foreign governments 50 — 24 — 74 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 68 — 192 4 260 4 All other corporate bonds 2,148 38 2,355 61 4,503 99 Total fixed maturities 2,619 41 3,493 77 6,112 118 Equity securities Public common stock 81 4 1 — 82 4 Non-redeemable preferred stock 44 1 42 1 86 2 Total equity securities 125 5 43 1 168 6 Total $ 2,744 $ 46 $ 3,536 $ 78 $ 6,280 $ 124 Unrealized losses for all fixed maturities and equity securities reported at fair value for which fair value is less than 80% of amortized cost at September 30, 2015 totaled $52 million, Impairment Charges Impairment charges included in net realized investment gains in the consolidated statement of income were $14 million and $10 million for the three months ended September 30, 2015 and 2014, respectively, and $23 million and $20 million for the nine months ended September 30, 2015 and 2014, respectively. The cumulative credit component of other-than-temporary impairments (OTTI) on fixed maturities recognized in the consolidated statement of income for which a portion of the OTTI was recognized in other comprehensive income for fixed maturities held at September 30, 2015 and 2014 totaled $86 million and $105 million, respectively, representing less than 1% of the fixed maturity portfolio on a pretax basis and less than 1% of shareholders’ equity on an after-tax basis at both dates. There were no significant changes in the credit component of OTTI during the three months and nine months ended September 30, 2015 and 2014 from that disclosed in note 3 of notes to the consolidated financial statements in the Company’s 2014 Annual Report. Derivative Financial Instruments From time to time, the Company enters into U.S. Treasury note futures contracts to modify the effective duration of specific assets within the investment portfolio. U.S. Treasury futures contracts require a daily mark-to-market and settlement with the broker. At September 30, 2015 and December 31, 2014, the Company had $450 million and $350 million notional value of open U.S. Treasury futures contracts, respectively. Net realized investment gains (losses) in the three months ended September 30, 2015 and 2014 and the nine months ended September 30, 2015 and 2014 related to U.S. Treasury futures contracts were not significant.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Measurements disclosure
Fair Value Measurements disclosure [Text Block]	4. 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: · - · - · - Valuation of Investments Reported at Fair Value in Financial Statements The Company utilized a pricing service to estimate fair value measurements for approximately 98% of its fixed maturities at both September 30, 2015 and December 31, 2014. 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 an internal pricing matrix with some unobservable inputs that are significant to the valuation. Due to the limited amount of observable market information, the Company includes the fair value estimates for these particular bonds in Level 3. The fair value of the fixed maturities for which the Company used an internal pricing matrix was $177 million and $92 million at September 30, 2015 and December 31, 2014, respectively. Additionally, the Company holds a small amount of other fixed maturity investments that have characteristics that make them unsuitable for matrix pricing. For these fixed maturities, the Company obtains a quote from a broker (primarily the market maker). The fair value of the fixed maturities for which the Company received a broker quote was $93 million and $140 million at September 30, 2015 and December 31, 2014, respectively. Due to the disclaimers on the quotes that indicate that the price is indicative only, the Company includes these fair value estimates 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 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 September 30, 2015 and December 31, 2014. An investment transferred between levels during a period is transferred at its fair value as of the beginning of that period. (at September 30, 2015, 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 $ 2,345 $ 2,345 $ — $ — Obligations of states, municipalities and political subdivisions 31,627 25 31,588 14 Debt securities issued by foreign governments 1,989 — 1,989 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 2,013 — 1,979 34 All other corporate bonds 23,582 101 23,266 215 Redeemable preferred stock 115 4 104 7 Total fixed maturities 61,671 2,475 58,926 270 Equity securities Public common stock 544 544 — — Non-redeemable preferred stock 175 63 112 — Total equity securities 719 607 112 — Other investments 56 17 — 39 Total $ 62,446 $ 3,099 $ 59,038 $ 309 During the nine months ended September 30, 2015, the Company’s transfers between Level 1 and Level 2 were not significant. (at December 31, 2014, 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 $ 2,053 $ 2,049 $ 4 $ — Obligations of states, municipalities and political subdivisions 33,573 — 33,560 13 Debt securities issued by foreign governments 2,368 — 2,368 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 2,213 — 2,203 10 All other corporate bonds 23,135 — 22,934 201 Redeemable preferred stock 132 2 122 8 Total fixed maturities 63,474 2,051 61,191 232 Equity securities Public common stock 691 691 — — Non-redeemable preferred stock 208 82 126 — Total equity securities 899 773 126 — Other investments 55 19 — 36 Total $ 64,428 $ 2,843 $ 61,317 $ 268 During the year ended December 31, 2014, the Company’s transfers between Level 1 and Level 2 were not significant. There was no significant activity in Level 3 of the hierarchy during the nine months ended September 30, 2015 or the year ended December 31, 2014. Financial Instruments Disclosed, But Not Carried, At Fair Value The Company uses various financial instruments in the normal course of its business. 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 at September 30, 2015 and December 31, 2014, and (at September 30, 2015, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets: Short-term securities $ 5,128 $ 5,128 $ 1,943 $ 3,148 $ 37 Financial liabilities: Debt $ 6,643 $ 7,623 $ — $ 7,623 $ — Commercial paper $ 100 $ 100 $ — $ 100 $ — (at December 31, 2014, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets: Short-term securities $ 4,364 $ 4,364 $ 1,283 $ 3,042 $ 39 Financial liabilities: Debt $ 6,249 $ 7,522 $ — $ 7,522 $ — Commercial paper $ 100 $ 100 $ — $ 100 $ — The Company utilized a pricing service to estimate fair value for approximately 98% of short-term securities at both September 30, 2015 and December 31, 2014. For a description of the process and inputs used by the pricing service to estimate fair value, see the “Fixed Maturities” section in note 4 of notes to the consolidated financial statements in the Company’s 2014 Annual Report. The Company utilized a pricing service to estimate fair value for 100% of its debt, including commercial paper, at September 30, 2015 and December 31, 2014. The Company had no material assets or liabilities that were measured at fair value on a non-recurring basis during the nine months ended September 30, 2015 or twelve months ended December 31, 2014.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Other Intangible Assets disclosure
Goodwill and Other Intangible Assets disclosure [Text Block]	5. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The following table presents the carrying amount of the Company’s goodwill by segment at September 30, 2015 and December 31, 2014: (in millions) September 30, December 31, Business and International Insurance (1) $ 2,443 $ 2,476 Bond & Specialty Insurance 496 495 Personal Insurance 612 613 Other 28 27 Total $ 3,579 $ 3,611 (1) Other Intangible Assets The following tables present a summary of the Company’s other intangible assets by major asset class at September 30, 2015 and December 31, 2014: (at September 30, 2015, in millions) Gross Accumulated Net Intangibles subject to amortization Customer-related (1) $ 4 $ 4 $ — Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles (2) 208 145 63 Total intangible assets subject to amortization 212 149 63 Intangible assets not subject to amortization 217 — 217 Total other intangible assets $ 429 $ 149 $ 280 (at December 31, 2014, in millions) Gross Accumulated Net Intangibles subject to amortization Customer-related $ 460 $ 446 $ 14 Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles (2) 209 136 73 Total intangible assets subject to amortization 669 582 87 Intangible assets not subject to amortization 217 — 217 Total other intangible assets $ 886 $ 582 $ 304 (1) (2) The following presents a summary of the Company’s amortization expense for other intangible assets by major asset class: Three Months Ended Nine Months Ended (in millions) 2015 2014 2015 2014 Customer-related $ — $ 8 $ 14 $ 24 Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles 3 4 9 11 Total amortization expense $ 3 $ 12 $ 23 $ 35 Intangible asset amortization expense is estimated to be $3 million for the remainder of 2015, $10 million in 2016, $9 million in 2017, $7 million in 2018 and $6 million in 2019.

Other Comprehensive Income and

Other Comprehensive Income and Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2015
Other Comprehensive Income and Accumulated Other Comprehensive Income disclosure
Other Comprehensive Income and Accumulated Other Comprehensive Income disclosure [Text Block]	6. OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents the changes in the Company’s accumulated other comprehensive income (AOCI) for the nine months ended September 30, 2015. (in millions) Changes in Net Changes in Net Net Benefit Plan Net Unrealized Total Accumulated Balance, December 31, 2014 $ 1,768 $ 198 $ (755 ) $ (331 ) $ 880 Other comprehensive income (loss) (OCI) before reclassifications (507 ) (11 ) 1 (342 ) (859 ) Amounts reclassified from AOCI (36 ) 2 45 — 11 Net OCI, current period (543 ) (9 ) 46 (342 ) (848 ) Balance, September 30, 2015 $ 1,225 $ 189 $ (709 ) $ (673 ) $ 32 The following tables present the pretax components of the Company’s other comprehensive income (loss) and the related income tax expense (benefit) for the three months and nine months ended September 30, 2015 and 2014. (for the three months ended September 30, in millions) 2015 2014 Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income $ 67 $ (154 ) Income tax expense (benefit) 26 (55 ) Net of taxes 41 (99 ) Having credit losses recognized in the consolidated statement of income (3 ) 1 Income tax expense (benefit) — 1 Net of taxes (3 ) — Net changes in benefit plan assets and obligations 24 15 Income tax expense 9 5 Net of taxes 15 10 Net changes in unrealized foreign currency translation (227 ) (203 ) Income tax benefit (37 ) (30 ) Net of taxes (190 ) (173 ) Total other comprehensive loss (139 ) (341 ) Total income tax benefit (2 ) (79 ) Total other comprehensive loss, net of taxes $ (137 ) $ (262 ) (for the nine months ended September 30, in millions) 2015 2014 Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income $ (829 ) $ 901 Income tax expense (benefit) (286 ) 311 Net of taxes (543 ) 590 Having credit losses recognized in the consolidated statement of income (13 ) 4 Income tax expense (benefit) (4 ) 2 Net of taxes (9 ) 2 Net changes in benefit plan assets and obligations 71 45 Income tax expense 25 17 Net of taxes 46 28 Net changes in unrealized foreign currency translation (407 ) (149 ) Income tax benefit (65 ) (19 ) Net of taxes (342 ) (130 ) Total other comprehensive income (loss) (1,178 ) 801 Total income tax expense (benefit) (330 ) 311 Total other comprehensive income (loss), net of taxes $ (848 ) $ 490 The following tables present the pretax and related income tax (expense) benefit components of the amounts reclassified from the Company’s AOCI to the Company’s consolidated statement of income for the three months and nine months ended September 30, 2015 and 2014. (for the three months ended September 30, in millions) 2015 2014 Reclassification adjustments related to unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (1) $ (20 ) $ (1 ) Income tax expense (2) (7 ) — Net of taxes (13 ) (1 ) 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 (3) 23 15 Income tax benefit (2) 8 5 Net of taxes 15 10 Reclassification adjustment related to foreign currency translation (1) — — Income tax benefit (2) — — Net of taxes — — Total reclassifications 3 14 Total income tax benefit 1 5 Total reclassifications, net of taxes $ 2 $ 9 (1) (2) (3) (for the nine months ended September 30, in millions) 2015 2014 Reclassification adjustments related to unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (1) $ (55 ) $ (30 ) Income tax expense (2) (19 ) (10 ) Net of taxes (36 ) (20 ) Having credit losses recognized in the consolidated statement of income (1) 2 4 Income tax benefit (2) — 2 Net of taxes 2 2 Reclassification adjustment related to benefit plan assets and obligations (3) 70 45 Income tax benefit (2) 25 17 Net of taxes 45 28 Reclassification adjustment related to foreign currency translation (1) — — Income tax benefit (2) — — Net of taxes — — Total reclassifications 17 19 Total income tax benefit 6 9 Total reclassifications, net of taxes $ 11 $ 10 (1) (2) (3)

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt disclosure
Debt disclosure [Text Block]	7. DEBT On August 25, 2015, the Company issued $400 million aggregate principal amount of 4.30% senior notes that will mature on August 25, 2045. The net proceeds of the issuance, after original issuance discount and the deduction of underwriting expenses and commissions and other expenses, totaled approximately $392 million. Interest on the senior notes is payable semi-annually in arrears on February 25 and August 25, commencing on February 25, 2016. Prior to February 25, 2045, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current rate of a treasury security having a maturity comparable to the remaining term of these senior notes, plus 25 basis points. On or after February 25, 2045, the senior notes may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100% of the principal amount of any senior notes to be redeemed.

Common Share Repurchases

Common Share Repurchases	9 Months Ended
	Sep. 30, 2015
Common Share Repurchases disclosure
Common Share Repurchases disclosure [Text Block]	8. COMMON SHARE REPURCHASES During the three months and nine months ended September 30, 2015, the Company repurchased 7.3 million and 20.8 million shares, respectively, under its share repurchase authorization, for a total cost of $750 million and $2.15 billion, respectively. The average cost per share repurchased was $102.81 and $103.48, respectively. At September 30, 2015, the Company had $4.33 billion of capacity remaining under its share repurchase authorization. In addition,

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2015
Earnings per Share disclosure
Earnings per Share disclosure [Text Block]	9. EARNINGS PER SHARE The following is a reconciliation of the net income and share data used in the basic and diluted earnings per share computations for the periods presented: Three Months Ended Nine Months Ended (in millions, except per share amounts) 2015 2014 2015 2014 Basic and Diluted Net income, as reported $ 928 $ 919 $ 2,573 $ 2,654 Participating share-based awards — allocated income (6 ) (7 ) (18 ) (19 ) Net income available to common shareholders — basic and diluted $ 922 $ 912 $ 2,555 $ 2,635 Common Shares Basic Weighted average shares outstanding 307.6 335.1 314.3 342.9 Diluted Weighted average shares outstanding 307.6 335.1 314.3 342.9 Weighted average effects of dilutive securities — stock options and performance shares 3.4 3.8 3.4 3.6 Total 311.0 338.9 317.7 346.5 Net Income per Common Share Basic $ 3.00 $ 2.72 $ 8.13 $ 7.68 Diluted $ 2.97 $ 2.69 $ 8.04 $ 7.60

Share-Based Incentive Compensat

Share-Based Incentive Compensation	9 Months Ended
	Sep. 30, 2015
Share-Based Incentive Compensation disclosure
Share-Based Incentive Compensation disclosure [Text Block]	10. SHARE-BASED INCENTIVE COMPENSATION The following information relates to fully vested stock option awards at September 30, 2015: Stock Options Number Weighted Weighted Aggregate Vested at end of period (1) 7,684,929 $ 67.85 6.1 years $ 251 Exercisable at end of period 4,625,049 $ 53.53 4.6 years $ 213 (1) The total compensation cost for all share-based incentive compensation awards recognized in earnings was $31 million for each of the three months ended September 30, 2015 and 2014, and $109 million and $106 million for the nine months ended September 30, 2015 and 2014, respectively. The related tax benefits recognized in the consolidated statement of income were $11 million and $10 million for the three months ended September 30, 2015 and 2014, respectively, and $37 million and $36 million for the nine months ended September 30, 2015 and 2014, respectively. The total unrecognized compensation cost related to all nonvested share-based incentive compensation awards at September 30, 2015 was $152 million, which is expected to be recognized over a weighted-average period of 1.8 years. The total unrecognized compensation cost related to all nonvested share-based incentive compensation awards at December 31, 2014 was $123 million, which was expected to be recognized over a weighted-average period of 1.7 years.

Pension Plans, Retirement Benef

Pension Plans, Retirement Benefits and Savings Plans	9 Months Ended
	Sep. 30, 2015
Pension Plans, Retirement Benefits and Savings Plans disclosure
Pension Plans, Retirement Benefits and Savings Plans disclosure [Text Block]	11. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS The following tables summarize the components of net periodic benefit cost for the Company’s pension and postretirement benefit plans recognized in the consolidated statement of income. (for the three months ended September 30, in Pension Plans Postretirement Benefit Plans millions) 2015 2014 2015 2014 Net Periodic Benefit Cost: Service cost $ 33 $ 27 $ — $ — Interest cost on benefit obligation 36 38 3 3 Expected return on plan assets (58 ) (55 ) — — Amortization of unrecognized: Prior service benefit — — (1 ) (1 ) Net actuarial (gain) loss 24 17 — (1 ) Net periodic benefit cost $ 35 $ 27 $ 2 $ 1 (for the nine months ended September 30, in Pension Plans Postretirement Benefit Plans millions) 2015 2014 2015 2014 Net Periodic Benefit Cost: Service cost $ 98 $ 82 $ — $ — Interest cost on benefit obligation 108 113 8 8 Expected return on plan assets (173 ) (164 ) — — Amortization of unrecognized: Prior service benefit — — (2 ) (2 ) Net actuarial (gain) loss 72 49 — (2 ) Net periodic benefit cost $ 105 $ 80 $ 6 $ 4

Contingencies, Commitments and

Contingencies, Commitments and Guarantees	9 Months Ended
	Sep. 30, 2015
Contingencies, Commitments and Guarantees disclosure
Contingencies, Commitments and Guarantees disclosure [Text Block]	12. 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 aggressive 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 the future development of claims and litigation relating to asbestos and environmental claims. Any such development will be affected by future court decisions and interpretations, as well as changes in applicable legislation. Because of these uncertainties, additional liabilities may arise for amounts in excess of the Company’s current reserves. In addition, the Company’s estimate of ultimate claims and claim adjustment expenses may change. These additional liabilities or increases 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. Settlement of Asbestos Direct Action Litigation In January 2015, pursuant to an order issued by the federal bankruptcy court, the Company made a payment in the amount of $579 million for the settlement of litigation that had commenced in 2001 related to the handling and settlement of asbestos claims. The payment was fully accrued in the Company’s financial statements at December 31, 2014 and was comprised of the $502 million settlement amounts, plus pre- and post-judgment interest totaling $77 million. For further information related to this litigation, see “Settlement of Asbestos Direct Action Litigation” in note 16 of notes to the consolidated financial statements in the Company’s 2014 Annual Report. 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. Gain Contingency On August 17, 2010, in a reinsurance dispute in New York state court captioned United States Fidelity & Guaranty Company v. American Re-Insurance Company, et al. Contingencies, Other Commitments and Guarantees Commitments Investment Commitments Guarantees The maximum amount of the Company’s contingent obligation for indemnifications related to the sale of businesses that are quantifiable was $454 million at September 30, 2015, of which $2 million was recognized on the balance sheet at that date. The maximum amount of the Company’s obligation for guarantees of certain investments and third-party loans related to certain investments that are quantifiable was $150 million at September 30, 2015, approximately $75 million of which is indemnified by a third party. 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 September 30, 2015, all of which is indemnified by a third party. For more information regarding Company guarantees, see note 16 of notes to the consolidated financial statements in the Company’s 2014 Annual Report.

Consolidating Financial Stateme

Consolidating Financial Statements (Unaudited)	9 Months Ended
	Sep. 30, 2015
Consolidating Financial Statements of The Travelers Companies, Inc. and Subsidiaries (Unaudited) disclosure
Consolidating Financial Statements of The Travelers Companies, Inc. and Subsidiaries (Unaudited) disclosure [Text Block]	13. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES The following consolidating financial statements of the Company have been prepared pursuant to Rule 3-10 of Regulation S-X. These consolidating financial statements have been prepared from the Company’s financial information on the same basis of accounting as the consolidated financial statements. The Travelers Companies, Inc. (excluding its subsidiaries, TRV) has fully and unconditionally guaranteed certain debt obligations of Travelers Property Casualty Corp. (TPC), which totaled $700 million at September 30, 2015. Prior to the merger of TPC and The St. Paul Companies, Inc. in 2004, TPC fully and unconditionally guaranteed the payment of all principal, premiums, if any, and interest on certain debt obligations of its wholly-owned subsidiary, Travelers Insurance Group Holdings, Inc. (TIGHI). Concurrent with the merger, TRV fully and unconditionally assumed such guarantee obligations of TPC. TPC is deemed to have no assets or operations independent of TIGHI. Consolidating financial information for TIGHI has not been presented herein because such financial information would be substantially the same as the financial information provided for TPC. CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the three months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 4,110 $ 1,922 $ — $ — $ 6,032 Net investment income 400 213 1 — 614 Fee income 112 — — — 112 Net realized investment gains (1) 5 10 — — 15 Other revenues 15 6 — — 21 Total revenues 4,642 2,151 1 — 6,794 Claims and expenses Claims and claim adjustment expenses 2,264 1,118 — — 3,382 Amortization of deferred acquisition costs 663 324 — — 987 General and administrative expenses 711 309 4 — 1,024 Interest expense 12 — 82 — 94 Total claims and expenses 3,650 1,751 86 — 5,487 Income (loss) before income taxes 992 400 (85 ) — 1,307 Income tax expense (benefit) 293 113 (27 ) — 379 Net income of subsidiaries — — 986 (986 ) — Net income $ 699 $ 287 $ 928 $ (986 ) $ 928 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (5 ) $ (9 ) $ — $ — $ (14 ) OTTI losses recognized in net realized investment gains $ (5 ) $ (9 ) $ — $ — $ (14 ) OTTI gains (losses) recognized in OCI $ — $ — $ — $ — $ — CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the three months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 4,064 $ 1,919 $ — $ — $ 5,983 Net investment income 479 239 1 — 719 Fee income 110 — — — 110 Net realized investment gains (losses)(1) (2 ) 41 1 — 40 Other revenues 28 6 — — 34 Total revenues 4,679 2,205 2 — 6,886 Claims and expenses Claims and claim adjustment expenses 2,359 1,161 — — 3,520 Amortization of deferred acquisition costs 642 342 — — 984 General and administrative expenses 716 311 4 — 1,031 Interest expense 12 — 81 — 93 Total claims and expenses 3,729 1,814 85 — 5,628 Income (loss) before income taxes 950 391 (83 ) — 1,258 Income tax expense (benefit) 263 106 (30 ) — 339 Net income of subsidiaries — — 972 (972 ) — Net income $ 687 $ 285 $ 919 $ (972 ) $ 919 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (8 ) $ — $ — $ — $ (8 ) OTTI losses recognized in net realized investment gains (losses) $ (9 ) $ (1 ) $ — $ — $ (10 ) OTTI gains recognized in OCI $ 1 $ 1 $ — $ — $ 2 CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the nine months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 12,150 $ 5,701 $ — $ — $ 17,851 Net investment income 1,235 599 4 — 1,838 Fee income 334 — — — 334 Net realized investment gains (1) 24 10 1 — 35 Other revenues 55 13 — — 68 Total revenues 13,798 6,323 5 — 20,126 Claims and expenses Claims and claim adjustment expenses 6,982 3,378 — — 10,360 Amortization of deferred acquisition costs 1,956 957 — — 2,913 General and administrative expenses 2,123 909 12 — 3,044 Interest expense 36 — 242 — 278 Total claims and expenses 11,097 5,244 254 — 16,595 Income (loss) before income taxes 2,701 1,079 (249 ) — 3,531 Income tax expense (benefit) 742 292 (76 ) — 958 Net income of subsidiaries — — 2,746 (2,746 ) — Net income $ 1,959 $ 787 $ 2,573 $ (2,746 ) $ 2,573 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (13 ) $ (13 ) $ — $ — $ (26 ) OTTI losses recognized in net realized investment gains $ (11 ) $ (12 ) $ — $ — $ (23 ) OTTI losses recognized in OCI $ (2 ) $ (1 ) $ — $ — $ (3 ) CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the nine months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 12,028 $ 5,706 $ — $ — $ 17,734 Net investment income 1,451 695 4 — 2,150 Fee income 328 1 — — 329 Net realized investment gains (1) 4 50 3 — 57 Other revenues 93 16 — — 109 Total revenues 13,904 6,468 7 — 20,379 Claims and expenses Claims and claim adjustment expenses 7,149 3,512 — — 10,661 Amortization of deferred acquisition costs 1,927 972 — — 2,899 General and administrative expenses 2,026 876 11 — 2,913 Interest expense 36 — 241 — 277 Total claims and expenses 11,138 5,360 252 — 16,750 Income (loss) before income taxes 2,766 1,108 (245 ) — 3,629 Income tax expense (benefit) 770 291 (86 ) — 975 Net income of subsidiaries — — 2,813 (2,813 ) — Net income $ 1,996 $ 817 $ 2,654 $ (2,813 ) $ 2,654 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (11 ) $ (5 ) $ — $ — $ (16 ) OTTI losses recognized in net realized investment gains $ (14 ) $ (6 ) $ — $ — $ (20 ) OTTI gains recognized in OCI $ 3 $ 1 $ — $ — $ 4 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the three months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 699 $ 287 $ 928 $ (986 ) $ 928 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 93 (17 ) (9 ) — 67 Having credit losses recognized in the consolidated statement of income (2 ) (1 ) — — (3 ) Net changes in benefit plan assets and obligations 1 1 22 — 24 Net changes in unrealized foreign currency translation (148 ) (79 ) — — (227 ) Other comprehensive income (loss) before income taxes and other comprehensive loss of subsidiaries (56 ) (96 ) 13 — (139 ) Income tax expense (benefit) 8 (14 ) 4 — (2 ) Other comprehensive income (loss), net of taxes, before other comprehensive loss of subsidiaries (64 ) (82 ) 9 — (137 ) Other comprehensive loss of subsidiaries — — (146 ) 146 — Other comprehensive loss (64 ) (82 ) (137 ) 146 (137 ) Comprehensive income $ 635 $ 205 $ 791 $ (840 ) $ 791 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the three months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 687 $ 285 $ 919 $ (972 ) $ 919 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (118 ) (35 ) (1 ) — (154 ) Having credit losses recognized in the consolidated statement of income 2 (1 ) — — 1 Net changes in benefit plan assets and obligations — 1 14 — 15 Net changes in unrealized foreign currency translation (120 ) (83 ) — — (203 ) Other comprehensive income (loss) before income taxes and other comprehensive loss of subsidiaries (236 ) (118 ) 13 — (341 ) Income tax expense (benefit) (62 ) (22 ) 5 — (79 ) Other comprehensive income (loss), net of taxes, before other comprehensive loss of subsidiaries (174 ) (96 ) 8 — (262 ) Other comprehensive loss of subsidiaries — — (270 ) 270 — Other comprehensive loss (174 ) (96 ) (262 ) 270 (262 ) Comprehensive income $ 513 $ 189 $ 657 $ (702 ) $ 657 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the nine months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 1,959 $ 787 $ 2,573 $ (2,746 ) $ 2,573 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (492 ) (329 ) (8 ) — (829 ) Having credit losses recognized in the consolidated statement of income (11 ) (2 ) — — (13 ) Net changes in benefit plan assets and obligations 2 2 67 — 71 Net changes in unrealized foreign currency translation (293 ) (114 ) — — (407 ) Other comprehensive income (loss) before income taxes and other comprehensive loss of subsidiaries (794 ) (443 ) 59 — (1,178 ) Income tax expense (benefit) (224 ) (126 ) 20 — (330 ) Other comprehensive income (loss), net of taxes, before other comprehensive loss of subsidiaries (570 ) (317 ) 39 — (848 ) Other comprehensive loss of subsidiaries — — (887 ) 887 — Other comprehensive loss (570 ) (317 ) (848 ) 887 (848 ) Comprehensive income $ 1,389 $ 470 $ 1,725 $ (1,859 ) $ 1,725 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the nine months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 1,996 $ 817 $ 2,654 $ (2,813 ) $ 2,654 Other comprehensive income: Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 632 266 3 — 901 Having credit losses recognized in the consolidated statement of income 11 (7 ) — — 4 Net changes in benefit plan assets and obligations — 1 44 — 45 Net changes in unrealized foreign currency translation (94 ) (55 ) — — (149 ) Other comprehensive income before income taxes and other comprehensive income of subsidiaries 549 205 47 — 801 Income tax expense 210 84 17 — 311 Other comprehensive income, net of taxes, before other comprehensive income of subsidiaries 339 121 30 — 490 Other comprehensive income of subsidiaries — — 460 (460 ) — Other comprehensive income 339 121 490 (460 ) 490 Comprehensive income $ 2,335 $ 938 $ 3,144 $ (3,273 ) $ 3,144 CONSOLIDATING BALANCE SHEET (Unaudited) At September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Assets Fixed maturities, available for sale, at fair value (amortized cost $59,688) $ 42,426 $ 19,199 $ 46 $ — $ 61,671 Equity securities, available for sale, at fair value (cost $553) 200 383 136 — 719 Real estate investments 56 955 — — 1,011 Short-term securities 2,295 877 1,956 — 5,128 Other investments 2,578 951 1 — 3,530 Total investments 47,555 22,365 2,139 — 72,059 Cash 201 141 2 — 344 Investment income accrued 423 186 4 — 613 Premiums receivable 4,433 2,126 — — 6,559 Reinsurance recoverables 5,846 3,103 — — 8,949 Ceded unearned premiums 713 76 — — 789 Deferred acquisition costs 1,702 202 — — 1,904 Deferred taxes 127 56 58 — 241 Contractholder receivables 3,370 1,020 — — 4,390 Goodwill 2,577 1,002 — — 3,579 Other intangible assets 201 79 — — 280 Investment in subsidiaries — — 28,115 (28,115 ) — Other assets 2,003 385 15 — 2,403 Total assets $ 69,151 $ 30,741 $ 30,333 $ (28,115 ) $ 102,110 Liabilities Claims and claim adjustment expense reserves $ 32,124 $ 16,472 $ — $ — $ 48,596 Unearned premium reserves 8,576 3,708 — — 12,284 Contractholder payables 3,370 1,020 — — 4,390 Payables for reinsurance premiums 264 175 — — 439 Debt 692 — 6,051 — 6,743 Other liabilities 4,142 1,222 261 — 5,625 Total liabilities 49,168 22,597 6,312 — 78,077 Shareholders’ equity Common stock (1,750.0 shares authorized; 304.2 shares issued and outstanding) — 390 22,099 (390 ) 22,099 Additional paid-in capital 11,634 6,502 — (18,136 ) — Retained earnings 7,857 1,070 29,251 (8,915 ) 29,263 Accumulated other comprehensive income 492 182 32 (674 ) 32 Treasury stock, at cost (458.8 shares) — — (27,361 ) — (27,361 ) Total shareholders’ equity 19,983 8,144 24,021 (28,115 ) 24,033 Total liabilities and shareholders’ equity $ 69,151 $ 30,741 $ 30,333 $ (28,115 ) $ 102,110 CONSOLIDATING BALANCE SHEET (Unaudited) At December 31, 2014 (in millions) TPC Other TRV Eliminations Consolidated Assets Fixed maturities, available for sale, at fair value (amortized cost $60,801) $ 43,401 $ 20,043 $ 30 $ — $ 63,474 Equity securities, available for sale, at fair value (cost $579) 236 522 141 — 899 Real estate investments 56 882 — — 938 Short-term securities 2,128 706 1,530 — 4,364 Other investments 2,630 955 1 — 3,586 Total investments 48,451 23,108 1,702 — 73,261 Cash 221 151 2 — 374 Investment income accrued 468 215 2 — 685 Premiums receivable 4,241 2,057 — — 6,298 Reinsurance recoverables 6,156 3,104 — — 9,260 Ceded unearned premiums 608 70 — — 678 Deferred acquisition costs 1,622 213 — — 1,835 Deferred taxes 23 (40 ) 50 — 33 Contractholder receivables 3,306 1,056 — — 4,362 Goodwill 2,602 1,009 — — 3,611 Other intangible assets 216 88 — — 304 Investment in subsidiaries — — 28,821 (28,821 ) — Other assets 1,931 429 17 — 2,377 Total assets $ 69,845 $ 31,460 $ 30,594 $ (28,821 ) $ 103,078 Liabilities Claims and claim adjustment expense reserves $ 32,999 $ 16,851 $ — $ — $ 49,850 Unearned premium reserves 8,201 3,638 — — 11,839 Contractholder payables 3,306 1,056 — — 4,362 Payables for reinsurance premiums 194 142 — — 336 Debt 692 — 5,657 — 6,349 Other liabilities 4,084 1,308 114 — 5,506 Total liabilities 49,476 22,995 5,771 — 78,242 Shareholders’ equity Common stock (1,750.0 shares authorized; 322.2 shares issued and outstanding) — 390 21,843 (390 ) 21,843 Additional paid-in capital 11,634 6,502 — (18,136 ) — Retained earnings 7,673 1,073 27,238 (8,733 ) 27,251 Accumulated other comprehensive income 1,062 500 880 (1,562 ) 880 Treasury stock, at cost (437.3 shares) — — (25,138 ) — (25,138 ) Total shareholders’ equity 20,369 8,465 24,823 (28,821 ) 24,836 Total liabilities and shareholders’ equity $ 69,845 $ 31,460 $ 30,594 $ (28,821 ) $ 103,078 CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the nine months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Cash flows from operating activities Net income $ 1,959 $ 787 $ 2,573 $ (2,746 ) $ 2,573 Net adjustments to reconcile net income to net cash provided by operating activities 90 (247 ) 76 182 101 Net cash provided by operating activities 2,049 540 2,649 (2,564 ) 2,674 Cash flows from investing activities Proceeds from maturities of fixed maturities 5,929 2,869 7 — 8,805 Proceeds from sales of investments: Fixed maturities 935 620 — — 1,555 Equity securities 14 24 — — 38 Real estate investments — 15 — — 15 Other investments 341 164 — — 505 Purchases of investments: Fixed maturities (6,845 ) (3,103 ) (24 ) — (9,972 ) Equity securities (3 ) (26 ) (2 ) — (31 ) Real estate investments — (116 ) — — (116 ) Other investments (311 ) (78 ) — — (389 ) Net purchases of short-term securities (172 ) (184 ) (426 ) — (782 ) Securities transactions in course of settlement 80 23 — — 103 Other (262 ) 40 — — (222 ) Net cash provided by (used in) investing activities (294 ) 248 (445 ) — (491 ) Cash flows from financing activities Issuance of debt — — 392 — 392 Treasury stock acquired – share repurchase authorization — — (2,150 ) — (2,150 ) Treasury stock acquired – net employee share-based compensation — — (73 ) — (73 ) Dividends paid to shareholders — — (557 ) — (557 ) Issuance of common stock – employee share options — — 142 — 142 Excess tax benefits from share-based payment arrangements — — 42 — 42 Dividends paid to parent company (1,774 ) (790 ) — 2,564 — Net cash used in financing activities (1,774 ) (790 ) (2,204 ) 2,564 (2,204 ) Effect of exchange rate changes on cash (1 ) (8 ) — — (9 ) Net decrease in cash (20 ) (10 ) — — (30 ) Cash at beginning of year 221 151 2 — 374 Cash at end of period $ 201 $ 141 $ 2 $ — $ 344 Supplemental disclosure of cash flow information Income taxes paid (received) $ 748 $ 286 $ (152 ) $ — $ 882 Interest paid $ 40 $ — $ 177 $ — $ 217 CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the nine months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Cash flows from operating activities Net income $ 1,996 $ 817 $ 2,654 $ (2,813 ) $ 2,654 Net adjustments to reconcile net income to net cash provided by operating activities 391 (73 ) 322 (126 ) 514 Net cash provided by operating activities 2,387 744 2,976 (2,939 ) 3,168 Cash flows from investing activities Proceeds from maturities of fixed maturities 4,886 3,088 1 — 7,975 Proceeds from sales of investments: Fixed maturities 511 415 1 — 927 Equity securities 83 41 4 — 128 Real estate investments 1 4 — — 5 Other investments 317 295 — — 612 Purchases of investments: Fixed maturities (4,888 ) (3,345 ) (4 ) — (8,237 ) Equity securities (3 ) (38 ) (6 ) — (47 ) Real estate investments (22 ) (19 ) — — (41 ) Other investments (292 ) (114 ) — — (406 ) Net purchases of short-term securities (552 ) (326 ) (285 ) — (1,163 ) Securities transactions in course of settlement 66 53 — — 119 Acquisitions, net of cash acquired (9 ) (3 ) — — (12 ) Other (256 ) (6 ) — — (262 ) Net cash provided by (used in) investing activities (158 ) 45 (289 ) — (402 ) Cash flows from financing activities Treasury stock acquired – share repurchase authorization — — (2,275 ) — (2,275 ) Treasury stock acquired – net employee share-based compensation — — (56 ) — (56 ) Dividends paid to shareholders — — (549 ) — (549 ) Issuance of common stock – employee share options — — 154 — 154 Excess tax benefits from share-based payment arrangements — — 38 — 38 Dividends paid to parent company (2,150 ) (789 ) — 2,939 — Net cash used in financing activities (2,150 ) (789 ) (2,688 ) 2,939 (2,688 ) Effect of exchange rate changes on cash — (5 ) — — (5 ) Net increase (decrease) in cash 79 (5 ) (1 ) — 73 Cash at beginning of year 137 154 3 — 294 Cash at end of period $ 216 $ 149 $ 2 $ — $ 367 Supplemental disclosure of cash flow information Income taxes paid (received) $ 684 $ 215 $ (114 ) $ — $ 785 Interest paid $ 40 $ — $ 177 $ — $ 217

Basis of Presentation and Acc22

Basis of Presentation and Accounting Policies (policies)	9 Months Ended
	Sep. 30, 2015
Basis of Presentation and Accounting Policies disclosure
Accounting Policies, 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, 2014 (the Company’s 2014 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.
Accounting Policies, Adoption of Accounting Standards Updates [Policy Text Block]	Adoption of Accounting Standards Updates Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2014, the Financial Accounting Standards Board (FASB) issued revised guidance to reduce diversity in practice for reporting discontinued operations. Under the previous guidance, any component of an entity that was a reportable segment, an operating segment, a reporting unit, a subsidiary or an asset group was eligible for discontinued operations presentation. The revised guidance only allows disposals of components of an entity that represent a strategic shift (e.g., disposal of a major geographical area, a major line of business, a major equity method investment or other major parts of an entity) and that have a major effect on a reporting entity’s operations and financial results to be reported as discontinued operations. The revised guidance also requires expanded disclosure in the financial statements for discontinued operations as well as for disposals of significant components of an entity that do not qualify for discontinued operations presentation. The updated guidance was effective for the quarter ending March 31, 2015. The adoption of this guidance did not have any effect on the Company’s results of operations, financial position or liquidity.

Segment Information (tables)

Segment Information (tables)	9 Months Ended
	Sep. 30, 2015
Segment Information disclosure
Company's revenues and operating income by segment [Table Text Block]	(for the three months Business and Bond & Specialty Personal Total 2015 Premiums $ 3,653 $ 539 $ 1,840 $ 6,032 Net investment income 471 56 87 614 Fee income 112 — — 112 Other revenues 5 4 9 18 Total operating revenues (1) $ 4,241 $ 599 $ 1,936 $ 6,776 Operating income (1) $ 546 $ 196 $ 241 $ 983 2014 Premiums $ 3,660 $ 527 $ 1,796 $ 5,983 Net investment income 557 64 98 719 Fee income 110 — — 110 Other revenues 10 5 19 34 Total operating revenues (1) $ 4,337 $ 596 $ 1,913 $ 6,846 Operating income (1) $ 552 $ 165 $ 239 $ 956 (1) (for the nine months Business and Bond & Specialty Personal Total 2015 Premiums $ 10,882 $ 1,567 $ 5,402 $ 17,851 Net investment income 1,412 169 257 1,838 Fee income 334 — — 334 Other revenues 18 14 33 65 Total operating revenues (1) $ 12,646 $ 1,750 $ 5,692 $ 20,088 Operating income (1) $ 1,604 $ 471 $ 667 $ 2,742 2014 Premiums $ 10,849 $ 1,554 $ 5,331 $ 17,734 Net investment income 1,666 192 292 2,150 Fee income 329 — — 329 Other revenues 32 15 62 109 Total operating revenues (1) $ 12,876 $ 1,761 $ 5,685 $ 20,322 Operating income (1) $ 1,717 $ 511 $ 582 $ 2,810 (1)
Business segment reconciliations of revenue and income, net of tax [Table Text Block]	Three Months Ended Nine Months Ended (in millions) 2015 2014 2015 2014 Revenue reconciliation Earned premiums Business and International Insurance: Domestic: Workers’ compensation $ 970 $ 928 $ 2,889 $ 2,759 Commercial automobile 486 481 1,432 1,422 Commercial property 446 442 1,329 1,310 General liability 487 472 1,432 1,376 Commercial multi-peril 790 774 2,344 2,292 Other 10 10 30 31 Total Domestic 3,189 3,107 9,456 9,190 International 464 553 1,426 1,659 Total Business and International Insurance 3,653 3,660 10,882 10,849 Bond & Specialty Insurance: Fidelity and surety 254 240 719 700 General liability 240 243 716 721 Other 45 44 132 133 Total Bond & Specialty Insurance 539 527 1,567 1,554 Personal Insurance: Automobile 893 835 2,592 2,471 Homeowners and other 947 961 2,810 2,860 Total Personal Insurance 1,840 1,796 5,402 5,331 Total earned premiums 6,032 5,983 17,851 17,734 Net investment income 614 719 1,838 2,150 Fee income 112 110 334 329 Other revenues 18 34 65 109 Total operating revenues for reportable segments 6,776 6,846 20,088 20,322 Other revenues 3 — 3 — Net realized investment gains 15 40 35 57 Total consolidated revenues $ 6,794 $ 6,886 $ 20,126 $ 20,379 Income reconciliation, net of tax Total operating income for reportable segments $ 983 $ 956 $ 2,742 $ 2,810 Interest Expense and Other (1) (65 ) (63 ) (191 ) (192 ) Total operating income 918 893 2,551 2,618 Net realized investment gains 10 26 22 36 Total consolidated net income $ 928 $ 919 $ 2,573 $ 2,654 (1)
Asset reconciliation [Table Text Block]	(in millions) September 30, December 31, Asset reconciliation: Business and International Insurance $ 80,905 $ 82,309 Bond & Specialty Insurance 7,828 7,525 Personal Insurance 12,946 12,798 Total assets for reportable segments 101,679 102,632 Other assets (1) 431 446 Total consolidated assets $ 102,110 $ 103,078 (1)

Investments (tables)

Investments (tables)	9 Months Ended
	Sep. 30, 2015
Investments disclosure
Amortized cost and fair value of investments in fixed maturities [Table Text Block]	Amortized Gross Unrealized Fair (at September 30, 2015, in millions) Cost Gains Losses Value U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,324 $ 24 $ 3 $ 2,345 Obligations of states, municipalities and political subdivisions: Pre-refunded 6,287 302 — 6,589 All other 24,075 1,009 46 25,038 Total obligations of states, municipalities and political subdivisions 30,362 1,311 46 31,627 Debt securities issued by foreign governments 1,939 50 — 1,989 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,874 142 3 2,013 All other corporate bonds 23,082 687 187 23,582 Redeemable preferred stock 107 8 — 115 Total $ 59,688 $ 2,222 $ 239 $ 61,671 Amortized Gross Unrealized Fair (at December 31, 2014, in millions) Cost Gains Losses Value U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,022 $ 36 $ 5 $ 2,053 Obligations of states, municipalities and political subdivisions: Pre-refunded 7,229 332 — 7,561 All other 24,666 1,356 10 26,012 Total obligations of states, municipalities and political subdivisions 31,895 1,688 10 33,573 Debt securities issued by foreign governments 2,320 48 — 2,368 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 2,052 165 4 2,213 All other corporate bonds 22,390 844 99 23,135 Redeemable preferred stock 122 10 — 132 Total $ 60,801 $ 2,791 $ 118 $ 63,474
Cost and fair value of investments in equity securities [Table Text Block]	Gross Unrealized Fair (at September 30, 2015, in millions) Cost Gains Losses Value Public common stock $ 398 $ 164 $ 18 $ 544 Non-redeemable preferred stock 155 27 7 175 Total $ 553 $ 191 $ 25 $ 719 Gross Unrealized Fair (at December 31, 2014, in millions) Cost Gains Losses Value Public common stock $ 400 $ 295 $ 4 $ 691 Non-redeemable preferred stock 179 31 2 208 Total $ 579 $ 326 $ 6 $ 899
Unrealized investment losses [Table Text Block]	Less than 12 months 12 months or longer Total (at September 30, 2015, 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 $ 499 $ 2 $ 25 $ 1 $ 524 $ 3 Obligations of states, municipalities and political subdivisions 3,604 41 142 5 3,746 46 Debt securities issued by foreign governments 112 — — — 112 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 89 1 62 2 151 3 All other corporate bonds 5,322 130 696 57 6,018 187 Redeemable preferred stock 8 — — — 8 — Total fixed maturities 9,634 174 925 65 10,559 239 Equity securities Public common stock 75 18 34 — 109 18 Non-redeemable preferred stock 52 5 46 2 98 7 Total equity securities 127 23 80 2 207 25 Total $ 9,761 $ 197 $ 1,005 $ 67 $ 10,766 $ 264 Less than 12 months 12 months or longer Total (at December 31, 2014, 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 $ 180 $ 2 $ 125 $ 3 $ 305 $ 5 Obligations of states, municipalities and political subdivisions 173 1 797 9 970 10 Debt securities issued by foreign governments 50 — 24 — 74 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 68 — 192 4 260 4 All other corporate bonds 2,148 38 2,355 61 4,503 99 Total fixed maturities 2,619 41 3,493 77 6,112 118 Equity securities Public common stock 81 4 1 — 82 4 Non-redeemable preferred stock 44 1 42 1 86 2 Total equity securities 125 5 43 1 168 6 Total $ 2,744 $ 46 $ 3,536 $ 78 $ 6,280 $ 124

Fair Value Measurements (tables

Fair Value Measurements (tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Measurements disclosure
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities reported at fair value are measured [Table Text Block]	(at September 30, 2015, 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 $ 2,345 $ 2,345 $ — $ — Obligations of states, municipalities and political subdivisions 31,627 25 31,588 14 Debt securities issued by foreign governments 1,989 — 1,989 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 2,013 — 1,979 34 All other corporate bonds 23,582 101 23,266 215 Redeemable preferred stock 115 4 104 7 Total fixed maturities 61,671 2,475 58,926 270 Equity securities Public common stock 544 544 — — Non-redeemable preferred stock 175 63 112 — Total equity securities 719 607 112 — Other investments 56 17 — 39 Total $ 62,446 $ 3,099 $ 59,038 $ 309 (at December 31, 2014, 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 $ 2,053 $ 2,049 $ 4 $ — Obligations of states, municipalities and political subdivisions 33,573 — 33,560 13 Debt securities issued by foreign governments 2,368 — 2,368 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 2,213 — 2,203 10 All other corporate bonds 23,135 — 22,934 201 Redeemable preferred stock 132 2 122 8 Total fixed maturities 63,474 2,051 61,191 232 Equity securities Public common stock 691 691 — — Non-redeemable preferred stock 208 82 126 — Total equity securities 899 773 126 — Other investments 55 19 — 36 Total $ 64,428 $ 2,843 $ 61,317 $ 268
Carrying value and fair value of financial instruments disclosed, but not carried, at fair value and the level within the fair value hierarchy at which such financial instruments are categorized [Table Text Block]	(at September 30, 2015, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets: Short-term securities $ 5,128 $ 5,128 $ 1,943 $ 3,148 $ 37 Financial liabilities: Debt $ 6,643 $ 7,623 $ — $ 7,623 $ — Commercial paper $ 100 $ 100 $ — $ 100 $ — (at December 31, 2014, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets: Short-term securities $ 4,364 $ 4,364 $ 1,283 $ 3,042 $ 39 Financial liabilities: Debt $ 6,249 $ 7,522 $ — $ 7,522 $ — Commercial paper $ 100 $ 100 $ — $ 100 $ —

Goodwill and Other Intangible26

Goodwill and Other Intangible Assets (tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Other Intangible Assets disclosure
Goodwill by segment [Table Text Block]	(in millions) September 30, December 31, Business and International Insurance (1) $ 2,443 $ 2,476 Bond & Specialty Insurance 496 495 Personal Insurance 612 613 Other 28 27 Total $ 3,579 $ 3,611 (1)
Other intangible assets by major asset class [Table Text Block]	(at September 30, 2015, in millions) Gross Accumulated Net Intangibles subject to amortization Customer-related (1) $ 4 $ 4 $ — Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles (2) 208 145 63 Total intangible assets subject to amortization 212 149 63 Intangible assets not subject to amortization 217 — 217 Total other intangible assets $ 429 $ 149 $ 280 (at December 31, 2014, in millions) Gross Accumulated Net Intangibles subject to amortization Customer-related $ 460 $ 446 $ 14 Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles (2) 209 136 73 Total intangible assets subject to amortization 669 582 87 Intangible assets not subject to amortization 217 — 217 Total other intangible assets $ 886 $ 582 $ 304 (1) (2)
Amortization expense for other intangible assets by major asset class [Table Text Block]	Three Months Ended Nine Months Ended (in millions) 2015 2014 2015 2014 Customer-related $ — $ 8 $ 14 $ 24 Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles 3 4 9 11 Total amortization expense $ 3 $ 12 $ 23 $ 35

Other Comprehensive Income an27

Other Comprehensive Income and Accumulated Other Comprehensive Income (tables)	9 Months Ended
	Sep. 30, 2015
Other Comprehensive Income and Accumulated Other Comprehensive Income disclosure
Changes in accumulated other comprehensive income (AOCI) [Table Text Block]	(in millions) Changes in Net Changes in Net Net Benefit Plan Net Unrealized Total Accumulated Balance, December 31, 2014 $ 1,768 $ 198 $ (755 ) $ (331 ) $ 880 Other comprehensive income (loss) (OCI) before reclassifications (507 ) (11 ) 1 (342 ) (859 ) Amounts reclassified from AOCI (36 ) 2 45 — 11 Net OCI, current period (543 ) (9 ) 46 (342 ) (848 ) Balance, September 30, 2015 $ 1,225 $ 189 $ (709 ) $ (673 ) $ 32
Pretax components of other comprehensive income (loss) and the related income tax expense (benefit) for each component [Table Text Block]	(for the three months ended September 30, in millions) 2015 2014 Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income $ 67 $ (154 ) Income tax expense (benefit) 26 (55 ) Net of taxes 41 (99 ) Having credit losses recognized in the consolidated statement of income (3 ) 1 Income tax expense (benefit) — 1 Net of taxes (3 ) — Net changes in benefit plan assets and obligations 24 15 Income tax expense 9 5 Net of taxes 15 10 Net changes in unrealized foreign currency translation (227 ) (203 ) Income tax benefit (37 ) (30 ) Net of taxes (190 ) (173 ) Total other comprehensive loss (139 ) (341 ) Total income tax benefit (2 ) (79 ) Total other comprehensive loss, net of taxes $ (137 ) $ (262 ) (for the nine months ended September 30, in millions) 2015 2014 Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income $ (829 ) $ 901 Income tax expense (benefit) (286 ) 311 Net of taxes (543 ) 590 Having credit losses recognized in the consolidated statement of income (13 ) 4 Income tax expense (benefit) (4 ) 2 Net of taxes (9 ) 2 Net changes in benefit plan assets and obligations 71 45 Income tax expense 25 17 Net of taxes 46 28 Net changes in unrealized foreign currency translation (407 ) (149 ) Income tax benefit (65 ) (19 ) Net of taxes (342 ) (130 ) Total other comprehensive income (loss) (1,178 ) 801 Total income tax expense (benefit) (330 ) 311 Total other comprehensive income (loss), net of taxes $ (848 ) $ 490
Pretax components of the amounts reclassified from accumulated other comprehensive income and the related income tax (expense) benefit for each component [Table Text Block]	(for the three months ended September 30, in millions) 2015 2014 Reclassification adjustments related to unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (1) $ (20 ) $ (1 ) Income tax expense (2) (7 ) — Net of taxes (13 ) (1 ) 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 (3) 23 15 Income tax benefit (2) 8 5 Net of taxes 15 10 Reclassification adjustment related to foreign currency translation (1) — — Income tax benefit (2) — — Net of taxes — — Total reclassifications 3 14 Total income tax benefit 1 5 Total reclassifications, net of taxes $ 2 $ 9 (1) (2) (3) (for the nine months ended September 30, in millions) 2015 2014 Reclassification adjustments related to unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (1) $ (55 ) $ (30 ) Income tax expense (2) (19 ) (10 ) Net of taxes (36 ) (20 ) Having credit losses recognized in the consolidated statement of income (1) 2 4 Income tax benefit (2) — 2 Net of taxes 2 2 Reclassification adjustment related to benefit plan assets and obligations (3) 70 45 Income tax benefit (2) 25 17 Net of taxes 45 28 Reclassification adjustment related to foreign currency translation (1) — — Income tax benefit (2) — — Net of taxes — — Total reclassifications 17 19 Total income tax benefit 6 9 Total reclassifications, net of taxes $ 11 $ 10 (1) (2) (3)

Earnings per Share (table)

Earnings per Share (table)	9 Months Ended
	Sep. 30, 2015
Earnings per Share disclosure
Earnings per share reconciliation [Table Text Block]	Three Months Ended Nine Months Ended (in millions, except per share amounts) 2015 2014 2015 2014 Basic and Diluted Net income, as reported $ 928 $ 919 $ 2,573 $ 2,654 Participating share-based awards — allocated income (6 ) (7 ) (18 ) (19 ) Net income available to common shareholders — basic and diluted $ 922 $ 912 $ 2,555 $ 2,635 Common Shares Basic Weighted average shares outstanding 307.6 335.1 314.3 342.9 Diluted Weighted average shares outstanding 307.6 335.1 314.3 342.9 Weighted average effects of dilutive securities — stock options and performance shares 3.4 3.8 3.4 3.6 Total 311.0 338.9 317.7 346.5 Net Income per Common Share Basic $ 3.00 $ 2.72 $ 8.13 $ 7.68 Diluted $ 2.97 $ 2.69 $ 8.04 $ 7.60

Share-Based Incentive Compens29

Share-Based Incentive Compensation (table)	9 Months Ended
	Sep. 30, 2015
Share-Based Incentive Compensation disclosure
Information for fully vested stock option awards [Table Text Block]	Stock Options Number Weighted Weighted Aggregate Vested at end of period (1) 7,684,929 $ 67.85 6.1 years $ 251 Exercisable at end of period 4,625,049 $ 53.53 4.6 years $ 213 (1)

Pension Plans, Retirement Ben30

Pension Plans, Retirement Benefits and Savings Plans (table)	9 Months Ended
	Sep. 30, 2015
Pension Plans, Retirement Benefits and Savings Plans disclosure
Summary of the components of net periodic benefit cost for the Company's pension and postretirement benefit plans recognized in the consolidated statement of income [Table Text Block]	(for the three months ended September 30, in Pension Plans Postretirement Benefit Plans millions) 2015 2014 2015 2014 Net Periodic Benefit Cost: Service cost $ 33 $ 27 $ — $ — Interest cost on benefit obligation 36 38 3 3 Expected return on plan assets (58 ) (55 ) — — Amortization of unrecognized: Prior service benefit — — (1 ) (1 ) Net actuarial (gain) loss 24 17 — (1 ) Net periodic benefit cost $ 35 $ 27 $ 2 $ 1 (for the nine months ended September 30, in Pension Plans Postretirement Benefit Plans millions) 2015 2014 2015 2014 Net Periodic Benefit Cost: Service cost $ 98 $ 82 $ — $ — Interest cost on benefit obligation 108 113 8 8 Expected return on plan assets (173 ) (164 ) — — Amortization of unrecognized: Prior service benefit — — (2 ) (2 ) Net actuarial (gain) loss 72 49 — (2 ) Net periodic benefit cost $ 105 $ 80 $ 6 $ 4

Consolidating Financial State31

Consolidating Financial Statements (Unaudited) (tables)	9 Months Ended
	Sep. 30, 2015
Consolidating Financial Statements of The Travelers Companies, Inc. and Subsidiaries (Unaudited) disclosure
Consolidating Statement of Income (Unaudited) [Table Text Block]	CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the three months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 4,110 $ 1,922 $ — $ — $ 6,032 Net investment income 400 213 1 — 614 Fee income 112 — — — 112 Net realized investment gains (1) 5 10 — — 15 Other revenues 15 6 — — 21 Total revenues 4,642 2,151 1 — 6,794 Claims and expenses Claims and claim adjustment expenses 2,264 1,118 — — 3,382 Amortization of deferred acquisition costs 663 324 — — 987 General and administrative expenses 711 309 4 — 1,024 Interest expense 12 — 82 — 94 Total claims and expenses 3,650 1,751 86 — 5,487 Income (loss) before income taxes 992 400 (85 ) — 1,307 Income tax expense (benefit) 293 113 (27 ) — 379 Net income of subsidiaries — — 986 (986 ) — Net income $ 699 $ 287 $ 928 $ (986 ) $ 928 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (5 ) $ (9 ) $ — $ — $ (14 ) OTTI losses recognized in net realized investment gains $ (5 ) $ (9 ) $ — $ — $ (14 ) OTTI gains (losses) recognized in OCI $ — $ — $ — $ — $ — CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the three months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 4,064 $ 1,919 $ — $ — $ 5,983 Net investment income 479 239 1 — 719 Fee income 110 — — — 110 Net realized investment gains (losses)(1) (2 ) 41 1 — 40 Other revenues 28 6 — — 34 Total revenues 4,679 2,205 2 — 6,886 Claims and expenses Claims and claim adjustment expenses 2,359 1,161 — — 3,520 Amortization of deferred acquisition costs 642 342 — — 984 General and administrative expenses 716 311 4 — 1,031 Interest expense 12 — 81 — 93 Total claims and expenses 3,729 1,814 85 — 5,628 Income (loss) before income taxes 950 391 (83 ) — 1,258 Income tax expense (benefit) 263 106 (30 ) — 339 Net income of subsidiaries — — 972 (972 ) — Net income $ 687 $ 285 $ 919 $ (972 ) $ 919 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (8 ) $ — $ — $ — $ (8 ) OTTI losses recognized in net realized investment gains (losses) $ (9 ) $ (1 ) $ — $ — $ (10 ) OTTI gains recognized in OCI $ 1 $ 1 $ — $ — $ 2 CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the nine months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 12,150 $ 5,701 $ — $ — $ 17,851 Net investment income 1,235 599 4 — 1,838 Fee income 334 — — — 334 Net realized investment gains (1) 24 10 1 — 35 Other revenues 55 13 — — 68 Total revenues 13,798 6,323 5 — 20,126 Claims and expenses Claims and claim adjustment expenses 6,982 3,378 — — 10,360 Amortization of deferred acquisition costs 1,956 957 — — 2,913 General and administrative expenses 2,123 909 12 — 3,044 Interest expense 36 — 242 — 278 Total claims and expenses 11,097 5,244 254 — 16,595 Income (loss) before income taxes 2,701 1,079 (249 ) — 3,531 Income tax expense (benefit) 742 292 (76 ) — 958 Net income of subsidiaries — — 2,746 (2,746 ) — Net income $ 1,959 $ 787 $ 2,573 $ (2,746 ) $ 2,573 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (13 ) $ (13 ) $ — $ — $ (26 ) OTTI losses recognized in net realized investment gains $ (11 ) $ (12 ) $ — $ — $ (23 ) OTTI losses recognized in OCI $ (2 ) $ (1 ) $ — $ — $ (3 ) CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the nine months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 12,028 $ 5,706 $ — $ — $ 17,734 Net investment income 1,451 695 4 — 2,150 Fee income 328 1 — — 329 Net realized investment gains (1) 4 50 3 — 57 Other revenues 93 16 — — 109 Total revenues 13,904 6,468 7 — 20,379 Claims and expenses Claims and claim adjustment expenses 7,149 3,512 — — 10,661 Amortization of deferred acquisition costs 1,927 972 — — 2,899 General and administrative expenses 2,026 876 11 — 2,913 Interest expense 36 — 241 — 277 Total claims and expenses 11,138 5,360 252 — 16,750 Income (loss) before income taxes 2,766 1,108 (245 ) — 3,629 Income tax expense (benefit) 770 291 (86 ) — 975 Net income of subsidiaries — — 2,813 (2,813 ) — Net income $ 1,996 $ 817 $ 2,654 $ (2,813 ) $ 2,654 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (11 ) $ (5 ) $ — $ — $ (16 ) OTTI losses recognized in net realized investment gains $ (14 ) $ (6 ) $ — $ — $ (20 ) OTTI gains recognized in OCI $ 3 $ 1 $ — $ — $ 4
Consolidating Statement of Comprehensive Income (Unaudited) [Table Text Block]	CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the three months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 699 $ 287 $ 928 $ (986 ) $ 928 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 93 (17 ) (9 ) — 67 Having credit losses recognized in the consolidated statement of income (2 ) (1 ) — — (3 ) Net changes in benefit plan assets and obligations 1 1 22 — 24 Net changes in unrealized foreign currency translation (148 ) (79 ) — — (227 ) Other comprehensive income (loss) before income taxes and other comprehensive loss of subsidiaries (56 ) (96 ) 13 — (139 ) Income tax expense (benefit) 8 (14 ) 4 — (2 ) Other comprehensive income (loss), net of taxes, before other comprehensive loss of subsidiaries (64 ) (82 ) 9 — (137 ) Other comprehensive loss of subsidiaries — — (146 ) 146 — Other comprehensive loss (64 ) (82 ) (137 ) 146 (137 ) Comprehensive income $ 635 $ 205 $ 791 $ (840 ) $ 791 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the three months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 687 $ 285 $ 919 $ (972 ) $ 919 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (118 ) (35 ) (1 ) — (154 ) Having credit losses recognized in the consolidated statement of income 2 (1 ) — — 1 Net changes in benefit plan assets and obligations — 1 14 — 15 Net changes in unrealized foreign currency translation (120 ) (83 ) — — (203 ) Other comprehensive income (loss) before income taxes and other comprehensive loss of subsidiaries (236 ) (118 ) 13 — (341 ) Income tax expense (benefit) (62 ) (22 ) 5 — (79 ) Other comprehensive income (loss), net of taxes, before other comprehensive loss of subsidiaries (174 ) (96 ) 8 — (262 ) Other comprehensive loss of subsidiaries — — (270 ) 270 — Other comprehensive loss (174 ) (96 ) (262 ) 270 (262 ) Comprehensive income $ 513 $ 189 $ 657 $ (702 ) $ 657 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the nine months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 1,959 $ 787 $ 2,573 $ (2,746 ) $ 2,573 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (492 ) (329 ) (8 ) — (829 ) Having credit losses recognized in the consolidated statement of income (11 ) (2 ) — — (13 ) Net changes in benefit plan assets and obligations 2 2 67 — 71 Net changes in unrealized foreign currency translation (293 ) (114 ) — — (407 ) Other comprehensive income (loss) before income taxes and other comprehensive loss of subsidiaries (794 ) (443 ) 59 — (1,178 ) Income tax expense (benefit) (224 ) (126 ) 20 — (330 ) Other comprehensive income (loss), net of taxes, before other comprehensive loss of subsidiaries (570 ) (317 ) 39 — (848 ) Other comprehensive loss of subsidiaries — — (887 ) 887 — Other comprehensive loss (570 ) (317 ) (848 ) 887 (848 ) Comprehensive income $ 1,389 $ 470 $ 1,725 $ (1,859 ) $ 1,725 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the nine months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 1,996 $ 817 $ 2,654 $ (2,813 ) $ 2,654 Other comprehensive income: Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 632 266 3 — 901 Having credit losses recognized in the consolidated statement of income 11 (7 ) — — 4 Net changes in benefit plan assets and obligations — 1 44 — 45 Net changes in unrealized foreign currency translation (94 ) (55 ) — — (149 ) Other comprehensive income before income taxes and other comprehensive income of subsidiaries 549 205 47 — 801 Income tax expense 210 84 17 — 311 Other comprehensive income, net of taxes, before other comprehensive income of subsidiaries 339 121 30 — 490 Other comprehensive income of subsidiaries — — 460 (460 ) — Other comprehensive income 339 121 490 (460 ) 490 Comprehensive income $ 2,335 $ 938 $ 3,144 $ (3,273 ) $ 3,144
Consolidating Balance Sheet (Unaudited) [Table Text Block]	CONSOLIDATING BALANCE SHEET (Unaudited) At September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Assets Fixed maturities, available for sale, at fair value (amortized cost $59,688) $ 42,426 $ 19,199 $ 46 $ — $ 61,671 Equity securities, available for sale, at fair value (cost $553) 200 383 136 — 719 Real estate investments 56 955 — — 1,011 Short-term securities 2,295 877 1,956 — 5,128 Other investments 2,578 951 1 — 3,530 Total investments 47,555 22,365 2,139 — 72,059 Cash 201 141 2 — 344 Investment income accrued 423 186 4 — 613 Premiums receivable 4,433 2,126 — — 6,559 Reinsurance recoverables 5,846 3,103 — — 8,949 Ceded unearned premiums 713 76 — — 789 Deferred acquisition costs 1,702 202 — — 1,904 Deferred taxes 127 56 58 — 241 Contractholder receivables 3,370 1,020 — — 4,390 Goodwill 2,577 1,002 — — 3,579 Other intangible assets 201 79 — — 280 Investment in subsidiaries — — 28,115 (28,115 ) — Other assets 2,003 385 15 — 2,403 Total assets $ 69,151 $ 30,741 $ 30,333 $ (28,115 ) $ 102,110 Liabilities Claims and claim adjustment expense reserves $ 32,124 $ 16,472 $ — $ — $ 48,596 Unearned premium reserves 8,576 3,708 — — 12,284 Contractholder payables 3,370 1,020 — — 4,390 Payables for reinsurance premiums 264 175 — — 439 Debt 692 — 6,051 — 6,743 Other liabilities 4,142 1,222 261 — 5,625 Total liabilities 49,168 22,597 6,312 — 78,077 Shareholders’ equity Common stock (1,750.0 shares authorized; 304.2 shares issued and outstanding) — 390 22,099 (390 ) 22,099 Additional paid-in capital 11,634 6,502 — (18,136 ) — Retained earnings 7,857 1,070 29,251 (8,915 ) 29,263 Accumulated other comprehensive income 492 182 32 (674 ) 32 Treasury stock, at cost (458.8 shares) — — (27,361 ) — (27,361 ) Total shareholders’ equity 19,983 8,144 24,021 (28,115 ) 24,033 Total liabilities and shareholders’ equity $ 69,151 $ 30,741 $ 30,333 $ (28,115 ) $ 102,110 CONSOLIDATING BALANCE SHEET (Unaudited) At December 31, 2014 (in millions) TPC Other TRV Eliminations Consolidated Assets Fixed maturities, available for sale, at fair value (amortized cost $60,801) $ 43,401 $ 20,043 $ 30 $ — $ 63,474 Equity securities, available for sale, at fair value (cost $579) 236 522 141 — 899 Real estate investments 56 882 — — 938 Short-term securities 2,128 706 1,530 — 4,364 Other investments 2,630 955 1 — 3,586 Total investments 48,451 23,108 1,702 — 73,261 Cash 221 151 2 — 374 Investment income accrued 468 215 2 — 685 Premiums receivable 4,241 2,057 — — 6,298 Reinsurance recoverables 6,156 3,104 — — 9,260 Ceded unearned premiums 608 70 — — 678 Deferred acquisition costs 1,622 213 — — 1,835 Deferred taxes 23 (40 ) 50 — 33 Contractholder receivables 3,306 1,056 — — 4,362 Goodwill 2,602 1,009 — — 3,611 Other intangible assets 216 88 — — 304 Investment in subsidiaries — — 28,821 (28,821 ) — Other assets 1,931 429 17 — 2,377 Total assets $ 69,845 $ 31,460 $ 30,594 $ (28,821 ) $ 103,078 Liabilities Claims and claim adjustment expense reserves $ 32,999 $ 16,851 $ — $ — $ 49,850 Unearned premium reserves 8,201 3,638 — — 11,839 Contractholder payables 3,306 1,056 — — 4,362 Payables for reinsurance premiums 194 142 — — 336 Debt 692 — 5,657 — 6,349 Other liabilities 4,084 1,308 114 — 5,506 Total liabilities 49,476 22,995 5,771 — 78,242 Shareholders’ equity Common stock (1,750.0 shares authorized; 322.2 shares issued and outstanding) — 390 21,843 (390 ) 21,843 Additional paid-in capital 11,634 6,502 — (18,136 ) — Retained earnings 7,673 1,073 27,238 (8,733 ) 27,251 Accumulated other comprehensive income 1,062 500 880 (1,562 ) 880 Treasury stock, at cost (437.3 shares) — — (25,138 ) — (25,138 ) Total shareholders’ equity 20,369 8,465 24,823 (28,821 ) 24,836 Total liabilities and shareholders’ equity $ 69,845 $ 31,460 $ 30,594 $ (28,821 ) $ 103,078
Consolidating Statement of Cash Flows (Unaudited) [Table Text Block]	CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the nine months ended September 30, 2015 (in millions) TPC Other TRV Eliminations Consolidated Cash flows from operating activities Net income $ 1,959 $ 787 $ 2,573 $ (2,746 ) $ 2,573 Net adjustments to reconcile net income to net cash provided by operating activities 90 (247 ) 76 182 101 Net cash provided by operating activities 2,049 540 2,649 (2,564 ) 2,674 Cash flows from investing activities Proceeds from maturities of fixed maturities 5,929 2,869 7 — 8,805 Proceeds from sales of investments: Fixed maturities 935 620 — — 1,555 Equity securities 14 24 — — 38 Real estate investments — 15 — — 15 Other investments 341 164 — — 505 Purchases of investments: Fixed maturities (6,845 ) (3,103 ) (24 ) — (9,972 ) Equity securities (3 ) (26 ) (2 ) — (31 ) Real estate investments — (116 ) — — (116 ) Other investments (311 ) (78 ) — — (389 ) Net purchases of short-term securities (172 ) (184 ) (426 ) — (782 ) Securities transactions in course of settlement 80 23 — — 103 Other (262 ) 40 — — (222 ) Net cash provided by (used in) investing activities (294 ) 248 (445 ) — (491 ) Cash flows from financing activities Issuance of debt — — 392 — 392 Treasury stock acquired – share repurchase authorization — — (2,150 ) — (2,150 ) Treasury stock acquired – net employee share-based compensation — — (73 ) — (73 ) Dividends paid to shareholders — — (557 ) — (557 ) Issuance of common stock – employee share options — — 142 — 142 Excess tax benefits from share-based payment arrangements — — 42 — 42 Dividends paid to parent company (1,774 ) (790 ) — 2,564 — Net cash used in financing activities (1,774 ) (790 ) (2,204 ) 2,564 (2,204 ) Effect of exchange rate changes on cash (1 ) (8 ) — — (9 ) Net decrease in cash (20 ) (10 ) — — (30 ) Cash at beginning of year 221 151 2 — 374 Cash at end of period $ 201 $ 141 $ 2 $ — $ 344 Supplemental disclosure of cash flow information Income taxes paid (received) $ 748 $ 286 $ (152 ) $ — $ 882 Interest paid $ 40 $ — $ 177 $ — $ 217 CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the nine months ended September 30, 2014 (in millions) TPC Other TRV Eliminations Consolidated Cash flows from operating activities Net income $ 1,996 $ 817 $ 2,654 $ (2,813 ) $ 2,654 Net adjustments to reconcile net income to net cash provided by operating activities 391 (73 ) 322 (126 ) 514 Net cash provided by operating activities 2,387 744 2,976 (2,939 ) 3,168 Cash flows from investing activities Proceeds from maturities of fixed maturities 4,886 3,088 1 — 7,975 Proceeds from sales of investments: Fixed maturities 511 415 1 — 927 Equity securities 83 41 4 — 128 Real estate investments 1 4 — — 5 Other investments 317 295 — — 612 Purchases of investments: Fixed maturities (4,888 ) (3,345 ) (4 ) — (8,237 ) Equity securities (3 ) (38 ) (6 ) — (47 ) Real estate investments (22 ) (19 ) — — (41 ) Other investments (292 ) (114 ) — — (406 ) Net purchases of short-term securities (552 ) (326 ) (285 ) — (1,163 ) Securities transactions in course of settlement 66 53 — — 119 Acquisitions, net of cash acquired (9 ) (3 ) — — (12 ) Other (256 ) (6 ) — — (262 ) Net cash provided by (used in) investing activities (158 ) 45 (289 ) — (402 ) Cash flows from financing activities Treasury stock acquired – share repurchase authorization — — (2,275 ) — (2,275 ) Treasury stock acquired – net employee share-based compensation — — (56 ) — (56 ) Dividends paid to shareholders — — (549 ) — (549 ) Issuance of common stock – employee share options — — 154 — 154 Excess tax benefits from share-based payment arrangements — — 38 — 38 Dividends paid to parent company (2,150 ) (789 ) — 2,939 — Net cash used in financing activities (2,150 ) (789 ) (2,688 ) 2,939 (2,688 ) Effect of exchange rate changes on cash — (5 ) — — (5 ) Net increase (decrease) in cash 79 (5 ) (1 ) — 73 Cash at beginning of year 137 154 3 — 294 Cash at end of period $ 216 $ 149 $ 2 $ — $ 367 Supplemental disclosure of cash flow information Income taxes paid (received) $ 684 $ 215 $ (114 ) $ — $ 785 Interest paid $ 40 $ — $ 177 $ — $ 217

Basis of Presentation and Acc32

Basis of Presentation and Accounting Policies (details)	9 Months Ended
	Sep. 30, 2015item
Basis of Presentation and Accounting Policies disclosure
Number of reportable business segments	3

Segment Information (details)

Segment Information (details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment reporting information
Premiums		$ 6,032	$ 5,983	$ 17,851	$ 17,734
Net investment income		614	719	1,838	2,150
Fee income		112	110	334	329
Other revenues		21	34	68	109
Operating income (loss)		918	893	2,551	2,618
Net realized investment gains	[1]	15	40	35	57
Total revenues		6,794	6,886	20,126	20,379
Net realized investment gains, net of tax		10	26	22	36
Net income		928	919	2,573	2,654
Reportable Segments [Member]
Segment reporting information
Premiums		6,032	5,983	17,851	17,734
Net investment income		614	719	1,838	2,150
Fee income		112	110	334	329
Other revenues		18	34	65	109
Total operating revenues		6,776	6,846	20,088	20,322
Operating income (loss)		983	956	2,742	2,810
Reportable Segments [Member] | Business and International Insurance [Member]
Segment reporting information
Premiums		3,653	3,660	10,882	10,849
Net investment income		471	557	1,412	1,666
Fee income		112	110	334	329
Other revenues		5	10	18	32
Total operating revenues		4,241	4,337	12,646	12,876
Operating income (loss)		546	552	1,604	1,717
Reportable Segments [Member] | Business and International Insurance [Member] | Domestic [Member]
Segment reporting information
Premiums		3,189	3,107	9,456	9,190
Reportable Segments [Member] | Business and International Insurance [Member] | Domestic [Member] | Workers' compensation [Member]
Segment reporting information
Premiums		970	928	2,889	2,759
Reportable Segments [Member] | Business and International Insurance [Member] | Domestic [Member] | Automobile [Member]
Segment reporting information
Premiums		486	481	1,432	1,422
Reportable Segments [Member] | Business and International Insurance [Member] | Domestic [Member] | Commercial property [Member]
Segment reporting information
Premiums		446	442	1,329	1,310
Reportable Segments [Member] | Business and International Insurance [Member] | Domestic [Member] | General liability [Member]
Segment reporting information
Premiums		487	472	1,432	1,376
Reportable Segments [Member] | Business and International Insurance [Member] | Domestic [Member] | Commercial multi-peril [Member]
Segment reporting information
Premiums		790	774	2,344	2,292
Reportable Segments [Member] | Business and International Insurance [Member] | Domestic [Member] | Other [Member]
Segment reporting information
Premiums		10	10	30	31
Reportable Segments [Member] | Business and International Insurance [Member] | International [Member]
Segment reporting information
Premiums		464	553	1,426	1,659
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Segment reporting information
Premiums		539	527	1,567	1,554
Net investment income		56	64	169	192
Other revenues		4	5	14	15
Total operating revenues		599	596	1,750	1,761
Operating income (loss)		196	165	471	511
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | General liability [Member]
Segment reporting information
Premiums		240	243	716	721
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Fidelity and surety [Member]
Segment reporting information
Premiums		254	240	719	700
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Other [Member]
Segment reporting information
Premiums		45	44	132	133
Reportable Segments [Member] | Personal Insurance [Member]
Segment reporting information
Premiums		1,840	1,796	5,402	5,331
Net investment income		87	98	257	292
Other revenues		9	19	33	62
Total operating revenues		1,936	1,913	5,692	5,685
Operating income (loss)		241	239	667	582
Reportable Segments [Member] | Personal Insurance [Member] | Automobile [Member]
Segment reporting information
Premiums		893	835	2,592	2,471
Reportable Segments [Member] | Personal Insurance [Member] | Homeowners and other [Member]
Segment reporting information
Premiums		947	961	2,810	2,860
Interest Expense & Other [Member]
Segment reporting information
Other revenues		3		3
Operating income (loss)		(65)	(63)	(191)	(192)
After-tax interest expense		$ 61	$ 60	$ 181	$ 180
[1]	Total other-than-temporary impairment (OTTI) losses were $(14) million and $(8) million for the three months ended September 30, 2015 and 2014, respectively, and $(26) million and $(16) million for the nine months ended September 30, 2015 and 2014, respectively. Of total OTTI, credit losses of $(14) million and $(10) million for the three months ended September 30, 2015 and 2014, respectively, and $(23) million and $(20) million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $(3) million and $4 million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in other comprehensive income (loss) as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income.

Segment Information (details) -

Segment Information (details) - Assets by Segment - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets by segment
Total assets	$ 102,110	$ 103,078
Reportable Segments [Member]
Assets by segment
Total assets	101,679	102,632
Reportable Segments [Member] | Business and International Insurance [Member]
Assets by segment
Total assets	80,905	82,309
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Assets by segment
Total assets	7,828	7,525
Reportable Segments [Member] | Personal Insurance [Member]
Assets by segment
Total assets	12,946	12,798
Other assets [Member]
Assets by segment
Total assets	$ 431	$ 446

Investments (details)

Investments (details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Investments disclosure
Proceeds from sales of fixed maturities classified as available for sale	$ 1,555	$ 927
Proceeds from sales of equity securities	$ 38	$ 128

Investments (details) - Investm

Investments (details) - Investment Information - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Investment disclosure details
Fixed maturities, amortized cost	$ 59,688		$ 59,688		$ 60,801
Fixed maturities, at fair value	61,671		61,671		63,474
Equity securities, cost	553		553		579
Equity securities, at fair value	719		719		899
Continuous unrealized loss position less than 12 months, fair value	9,761		9,761		2,744
Continuous unrealized loss position less than 12 months, gross unrealized losses	197		197		46
Continuous unrealized loss position 12 months or longer, fair value	1,005		1,005		3,536
Continuous unrealized loss position 12 months or longer, gross unrealized losses	67		67		78
Continuous unrealized loss position, total, fair value	10,766		10,766		6,280
Continuous unrealized loss position, total, gross unrealized losses	264		264		124
Available-for-sale securities for which fair value is less than 80% of amortized cost, total	52		52
Impairment charges included in net realized investment gains in the consolidated statement of income	$ 14	$ 10	$ 23	$ 20
Maxiumum [Member]
Investment disclosure details
Unrealized investment losses for securities for which fair value is less than 80% of amortized cost, as a percentage of the combined fixed maturity and equity security portfolios on a pretax basis	1.00%		1.00%
Unrealized investment losses for securities for which fair value is less than 80% of amortized cost, as a percentage of shareholders' equity on an after-tax basis	1.00%		1.00%
Fixed maturities [Member]
Investment disclosure details
Fixed maturities, amortized cost	$ 59,688		$ 59,688		60,801
Gross unrealized gains	2,222		2,222		2,791
Gross unrealized losses	239		239		118
Fixed maturities, at fair value	61,671		61,671		63,474
Gross realized gains			74	34
Gross realized losses			6	6
Continuous unrealized loss position less than 12 months, fair value	9,634		9,634		2,619
Continuous unrealized loss position less than 12 months, gross unrealized losses	174		174		41
Continuous unrealized loss position 12 months or longer, fair value	925		925		3,493
Continuous unrealized loss position 12 months or longer, gross unrealized losses	65		65		77
Continuous unrealized loss position, total, fair value	10,559		10,559		6,112
Continuous unrealized loss position, total, gross unrealized losses	239		239		118
Cumulative credit component of other-than-temporary impairments (OTTI) on fixed maturities recognized in the consolidated statement of income for which a portion of the OTTI was recognized in other comprehensive income for fixed maturities held	$ 86	$ 105	$ 86	$ 105
Fixed maturities [Member] | Maxiumum [Member]
Investment disclosure details
Cumulative credit component of other-than-temporary impairments (OTTI) on fixed maturities recognized in the consolidated statement of income for which a portion of the OTTI was recognized in other comprehensive income for fixed maturities held, as a percentage of the fixed maturity portfolio on a pretax basis	1.00%	1.00%	1.00%	1.00%
Cumulative credit component of other-than-temporary impairments (OTTI) on fixed maturities recognized in the consolidated statement of income for which a portion of the OTTI was recognized in other comprehensive income for fixed maturities held, as a percentage of shareholders' equity on an after-tax basis	1.00%	1.00%	1.00%	1.00%
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member]
Investment disclosure details
Fixed maturities, amortized cost	$ 2,324		$ 2,324		2,022
Gross unrealized gains	24		24		36
Gross unrealized losses	3		3		5
Fixed maturities, at fair value	2,345		2,345		2,053
Continuous unrealized loss position less than 12 months, fair value	499		499		180
Continuous unrealized loss position less than 12 months, gross unrealized losses	2		2		2
Continuous unrealized loss position 12 months or longer, fair value	25		25		125
Continuous unrealized loss position 12 months or longer, gross unrealized losses	1		1		3
Continuous unrealized loss position, total, fair value	524		524		305
Continuous unrealized loss position, total, gross unrealized losses	3		3		5
Obligations of states, municipalities and political subdivisions [Member]
Investment disclosure details
Fixed maturities, amortized cost	30,362		30,362		31,895
Gross unrealized gains	1,311		1,311		1,688
Gross unrealized losses	46		46		10
Fixed maturities, at fair value	31,627		31,627		33,573
Continuous unrealized loss position less than 12 months, fair value	3,604		3,604		173
Continuous unrealized loss position less than 12 months, gross unrealized losses	41		41		1
Continuous unrealized loss position 12 months or longer, fair value	142		142		797
Continuous unrealized loss position 12 months or longer, gross unrealized losses	5		5		9
Continuous unrealized loss position, total, fair value	3,746		3,746		970
Continuous unrealized loss position, total, gross unrealized losses	46		46		10
Obligations of states, municipalities and political subdivisions, pre-refunded [Member]
Investment disclosure details
Fixed maturities, amortized cost	6,287		6,287		7,229
Gross unrealized gains	302		302		332
Fixed maturities, at fair value	6,589		6,589		7,561
Obligations of states, municipalities and political subdivisions, all other (not pre-refunded) [Member]
Investment disclosure details
Fixed maturities, amortized cost	24,075		24,075		24,666
Gross unrealized gains	1,009		1,009		1,356
Gross unrealized losses	46		46		10
Fixed maturities, at fair value	25,038		25,038		26,012
Debt securities issued by foreign governments [Member]
Investment disclosure details
Fixed maturities, amortized cost	1,939		1,939		2,320
Gross unrealized gains	50		50		48
Fixed maturities, at fair value	1,989		1,989		2,368
Continuous unrealized loss position less than 12 months, fair value	112		112		50
Continuous unrealized loss position 12 months or longer, fair value					24
Continuous unrealized loss position, total, fair value	112		112		74
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Investment disclosure details
Fixed maturities, amortized cost	1,874		1,874		2,052
Gross unrealized gains	142		142		165
Gross unrealized losses	3		3		4
Fixed maturities, at fair value	2,013		2,013		2,213
Continuous unrealized loss position less than 12 months, fair value	89		89		68
Continuous unrealized loss position less than 12 months, gross unrealized losses	1		1
Continuous unrealized loss position 12 months or longer, fair value	62		62		192
Continuous unrealized loss position 12 months or longer, gross unrealized losses	2		2		4
Continuous unrealized loss position, total, fair value	151		151		260
Continuous unrealized loss position, total, gross unrealized losses	3		3		4
All other corporate bonds [Member]
Investment disclosure details
Fixed maturities, amortized cost	23,082		23,082		22,390
Gross unrealized gains	687		687		844
Gross unrealized losses	187		187		99
Fixed maturities, at fair value	23,582		23,582		23,135
Continuous unrealized loss position less than 12 months, fair value	5,322		5,322		2,148
Continuous unrealized loss position less than 12 months, gross unrealized losses	130		130		38
Continuous unrealized loss position 12 months or longer, fair value	696		696		2,355
Continuous unrealized loss position 12 months or longer, gross unrealized losses	57		57		61
Continuous unrealized loss position, total, fair value	6,018		6,018		4,503
Continuous unrealized loss position, total, gross unrealized losses	187		187		99
Redeemable preferred stock [Member]
Investment disclosure details
Fixed maturities, amortized cost	107		107		122
Gross unrealized gains	8		8		10
Fixed maturities, at fair value	115		115		132
Continuous unrealized loss position less than 12 months, fair value	8		8
Continuous unrealized loss position, total, fair value	8		8
Equity securities [Member]
Investment disclosure details
Equity securities, cost	553		553		579
Gross unrealized gains	191		191		326
Gross unrealized losses	25		25		6
Equity securities, at fair value	719		719		899
Gross realized gains			7	$ 20
Gross realized losses			4	$ 3
Continuous unrealized loss position less than 12 months, fair value	127		127		125
Continuous unrealized loss position less than 12 months, gross unrealized losses	23		23		5
Continuous unrealized loss position 12 months or longer, fair value	80		80		43
Continuous unrealized loss position 12 months or longer, gross unrealized losses	2		2		1
Continuous unrealized loss position, total, fair value	207		207		168
Continuous unrealized loss position, total, gross unrealized losses	25		25		6
Public common stock [Member]
Investment disclosure details
Equity securities, cost	398		398		400
Gross unrealized gains	164		164		295
Gross unrealized losses	18		18		4
Equity securities, at fair value	544		544		691
Continuous unrealized loss position less than 12 months, fair value	75		75		81
Continuous unrealized loss position less than 12 months, gross unrealized losses	18		18		4
Continuous unrealized loss position 12 months or longer, fair value	34		34		1
Continuous unrealized loss position, total, fair value	109		109		82
Continuous unrealized loss position, total, gross unrealized losses	18		18		4
Non-redeemable preferred stock [Member]
Investment disclosure details
Equity securities, cost	155		155		179
Gross unrealized gains	27		27		31
Gross unrealized losses	7		7		2
Equity securities, at fair value	175		175		208
Continuous unrealized loss position less than 12 months, fair value	52		52		44
Continuous unrealized loss position less than 12 months, gross unrealized losses	5		5		1
Continuous unrealized loss position 12 months or longer, fair value	46		46		42
Continuous unrealized loss position 12 months or longer, gross unrealized losses	2		2		1
Continuous unrealized loss position, total, fair value	98		98		86
Continuous unrealized loss position, total, gross unrealized losses	$ 7		$ 7		$ 2

Investments (details) - Derivat

Investments (details) - Derivatives - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Futures [Member] | U.S. Treasury notes contracts [Member]
Derivatives
Notional value of open contracts	$ 450	$ 350

Fair Value Measurements (detail

Fair Value Measurements (details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value Measurements disclosure
Percent of fixed maturities for which a pricing service estimates fair value	98.00%	98.00%
Fair value of the fixed maturities for which the Company used an internal pricing matrix	$ 177	$ 92
Fair value of the fixed maturities for which the Company received a broker quote	$ 93	$ 140
Percent of short-term securities for which a pricing service estimates fair value	98.00%	98.00%
Percent of debt, including commercial paper, for which a pricing service estimates fair value	100.00%	100.00%

Fair Value Measurements (deta39

Fair Value Measurements (details) - Fair Value Hierarchy - Recurring basis [Member] - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	$ 62,446	$ 64,428
Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	3,099	2,843
Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	59,038	61,317
Level 3 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	309	268
Fixed maturities [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	61,671	63,474
Fixed maturities [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	2,475	2,051
Fixed maturities [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	58,926	61,191
Fixed maturities [Member] | Level 3 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	270	232
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 are measured
Total invested assets measured on a recurring basis	2,345	2,053
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	2,345	2,049
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis		4
Obligations of states, municipalities and political subdivisions [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	31,627	33,573
Obligations of states, municipalities and political subdivisions [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	25
Obligations of states, municipalities and political subdivisions [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	31,588	33,560
Obligations of states, municipalities and political subdivisions [Member] | Level 3 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	14	13
Debt securities issued by foreign governments [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	1,989	2,368
Debt securities issued by foreign governments [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	1,989	2,368
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	2,013	2,213
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	1,979	2,203
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member] | Level 3 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	34	10
All other corporate bonds [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	23,582	23,135
All other corporate bonds [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	101
All other corporate bonds [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	23,266	22,934
All other corporate bonds [Member] | Level 3 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	215	201
Redeemable preferred stock [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	115	132
Redeemable preferred stock [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	4	2
Redeemable preferred stock [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	104	122
Redeemable preferred stock [Member] | Level 3 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	7	8
Equity securities [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	719	899
Equity securities [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	607	773
Equity securities [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	112	126
Public common stock [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	544	691
Public common stock [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	544	691
Non-redeemable preferred stock [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	175	208
Non-redeemable preferred stock [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	63	82
Non-redeemable preferred stock [Member] | Level 2 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	112	126
Other investments [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	56	55
Other investments [Member] | Level 1 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	17	19
Other investments [Member] | Level 3 [Member]
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	$ 39	$ 36

Fair Value Measurements Footnot

Fair Value Measurements Footnote (details) - Financial Instruments - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Financial Instruments
Short-term securities	$ 5,128	$ 4,364
Fair Value [Member]
Financial Instruments
Short-term securities	5,128	4,364
Debt	7,623	7,522
Commercial paper amount	100	100
Fair Value [Member] | Level 1 [Member]
Financial Instruments
Short-term securities	1,943	1,283
Fair Value [Member] | Level 2 [Member]
Financial Instruments
Short-term securities	3,148	3,042
Debt	7,623	7,522
Commercial paper amount	100	100
Fair Value [Member] | Level 3 [Member]
Financial Instruments
Short-term securities	37	39
Carrying Value [Member]
Financial Instruments
Short-term securities	5,128	4,364
Debt	6,643	6,249
Commercial paper amount	$ 100	$ 100

Goodwill (details)

Goodwill (details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Goodwill by segment
Goodwill	$ 3,579	$ 3,611
Reportable Segments [Member] | Business and International Insurance [Member]
Goodwill by segment
Goodwill	2,443	2,476
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Goodwill by segment
Goodwill	496	495
Reportable Segments [Member] | Personal Insurance [Member]
Goodwill by segment
Goodwill	612	613
Other [Member]
Goodwill by segment
Goodwill	$ 28	$ 27

Goodwill (details) - Other Inta

Goodwill (details) - Other Intangible Assets - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Other intangible assets by major asset class
Intangible assets subject to amortization, gross carrying amount	$ 212		$ 212		$ 669
Intangible assets subject to amortization, accumulated amortization	149		149		582
Intangible assets subject to amortization, net	63		63		87
Amortization expense for other intangible assets	3	$ 12	23	$ 35
Estimated intangible asset amortization expense, remainder of 2015	3		3
Estimated intangible asset amortization expense, 2016	10		10
Estimated intangible asset amortization expense, 2017	9		9
Estimated intangible asset amortization expense, 2018	7		7
Estimated intangible asset amortization expense, 2019	6		6
Customer-related [Member]
Other intangible assets by major asset class
Intangible assets subject to amortization, gross carrying amount	4		4		460
Intangible assets subject to amortization, accumulated amortization	4		4		446
Intangible assets subject to amortization, net					14
Amortization expense for other intangible assets		8	14	24
Fair value adjustment on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangibles [Member]
Other intangible assets by major asset class
Intangible assets subject to amortization, gross carrying amount	208		208		209
Intangible assets subject to amortization, accumulated amortization	145		145		136
Intangible assets subject to amortization, net	63		63		$ 73
Amortization expense for other intangible assets	$ 3	$ 4	$ 9	$ 11

Goodwill (details) - Total Inta

Goodwill (details) - Total Intangibles - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Goodwill and Other Intangible Assets disclosure
Intangible assets not subject to amortization	$ 217	$ 217
Total other intangible assets, gross carrying amount	429	886
Total other intangible assets, accumulated amortization	149	582
Total other intangible assets, net	$ 280	$ 304

Other Comprehensive Income an44

Other Comprehensive Income and Accumulated Other Comprehensive Income (details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated other comprehensive income [Roll Forward]
Balance, beginning of year			$ 880	$ 810
Other comprehensive income (loss) before reclassifications			(859)
Amounts reclassified from accumulated other comprehensive income			11
Other comprehensive income (loss), net of taxes	$ (137)	$ (262)	(848)	490
Balance, end of period	32	1,300	32	1,300
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	67	(154)	(829)	901
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	(3)	1	(13)	4
Net changes in benefit plan assets and obligations	24	15	71	45
Net changes in unrealized foreign currency translation	(227)	(203)	(407)	(149)
Other comprehensive income (loss) before income taxes	(139)	(341)	(1,178)	801
Income tax expense (benefit), other comprehensive income (loss)	(2)	(79)	(330)	311
Changes in Net Unrealized Gains on Investment Securities Having No Credit Losses Recognized in the Consolidated Statement of Income [Member]
Accumulated other comprehensive income [Roll Forward]
Balance, beginning of year			1,768
Other comprehensive income (loss) before reclassifications			(507)
Amounts reclassified from accumulated other comprehensive income			(36)
Other comprehensive income (loss), net of taxes	41	(99)	(543)	590
Balance, end of period	1,225		1,225
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	67	(154)	(829)	901
Income tax expense (benefit), other comprehensive income (loss)	26	(55)	(286)	311
Changes in Net Unrealized Gains on Investment Securities Having Credit Losses Recognized in the Consolidated Statement of Income [Member]
Accumulated other comprehensive income [Roll Forward]
Balance, beginning of year			198
Other comprehensive income (loss) before reclassifications			(11)
Amounts reclassified from accumulated other comprehensive income			2
Other comprehensive income (loss), net of taxes	(3)		(9)	2
Balance, end of period	189		189
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	(3)	1	(13)	4
Income tax expense (benefit), other comprehensive income (loss)		1	(4)	2
Net Benefit Plan Assets and Obligations Recognized in Shareholders' Equity [Member]
Accumulated other comprehensive income [Roll Forward]
Balance, beginning of year			(755)
Other comprehensive income (loss) before reclassifications			1
Amounts reclassified from accumulated other comprehensive income			45
Other comprehensive income (loss), net of taxes	15	10	46	28
Balance, end of period	(709)		(709)
Net changes in benefit plan assets and obligations	24	15	71	45
Income tax expense (benefit), other comprehensive income (loss)	9	5	25	17
Net Unrealized Foreign Currency Translation [Member]
Accumulated other comprehensive income [Roll Forward]
Balance, beginning of year			(331)
Other comprehensive income (loss) before reclassifications			(342)
Other comprehensive income (loss), net of taxes	(190)	(173)	(342)	(130)
Balance, end of period	(673)		(673)
Net changes in unrealized foreign currency translation	(227)	(203)	(407)	(149)
Income tax expense (benefit), other comprehensive income (loss)	$ (37)	$ (30)	$ (65)	$ (19)

Other Comprehensive Income an45

Other Comprehensive Income and Accumulated Other Comprehensive Income (details) - Reclassifications - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification adjustment impacting realized gains on the income statement	[1]	$ (15)	$ (40)	$ (35)	$ (57)
Reclassification adjustment impacting general and administrative expense on the income statement		1,024	1,031	3,044	2,913
Total reclassifications		(1,307)	(1,258)	(3,531)	(3,629)
Income tax (expense) benefit		(379)	(339)	(958)	(975)
Amounts reclassified from accumulated other comprehensive income, net of taxes		(928)	(919)	(2,573)	(2,654)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Total reclassifications		3	14	17	19
Income tax (expense) benefit		1	5	6	9
Amounts reclassified from accumulated other comprehensive income, net of taxes		2	9	11	10
Changes in Net Unrealized Gains 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 realized gains on the income statement		(20)	(1)	(55)	(30)
Income tax (expense) benefit		(7)		(19)	(10)
Amounts reclassified from accumulated other comprehensive income, net of taxes		(13)	(1)	(36)	(20)
Changes in Net Unrealized Gains 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 realized gains on the income statement				2	4
Income tax (expense) benefit					2
Amounts reclassified from accumulated other comprehensive income, net of taxes				2	2
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 general and administrative expense on the income statement		23	15	70	45
Income tax (expense) benefit		8	5	25	17
Amounts reclassified from accumulated other comprehensive income, net of taxes		$ 15	$ 10	$ 45	$ 28
[1]	Total other-than-temporary impairment (OTTI) losses were $(14) million and $(8) million for the three months ended September 30, 2015 and 2014, respectively, and $(26) million and $(16) million for the nine months ended September 30, 2015 and 2014, respectively. Of total OTTI, credit losses of $(14) million and $(10) million for the three months ended September 30, 2015 and 2014, respectively, and $(23) million and $(20) million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $(3) million and $4 million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in other comprehensive income (loss) as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income.

Debt (details)

Debt (details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Aug. 25, 2015
Debt Instrument
Net proceeds of issuance, after original issuance discount and deduction of underwriting expenses and commissions and other expenses		$ 392
4.30% Senior notes due August 25, 2045 [Member]
Debt Instrument
Debt, principal amount			$ 400
Interest rate (percent)			4.30%
Net proceeds of issuance, after original issuance discount and deduction of underwriting expenses and commissions and other expenses	$ 392
Debt instrument, redemption option, description	Prior to February 25, 2045, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current rate of a treasury security having a maturity comparable to the remaining term of these senior notes, plus 25 basis points. On or after February 25, 2045, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to 100% of the principal amount of any senior notes to be redeemed.
Percentage of principal amount at which redemption price may be set	100.00%
Basis points added to current treasury rate used in calculation of alternative redemption price	0.25%

Common Share Repurchases (detai

Common Share Repurchases (details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Repurchase activity
Shares acquired to cover tax withholding costs and exercise costs		$ 73	$ 57
Board of Directors Approved Repurchase Authorization [Member]
Repurchase activity
Number of shares repurchased (in shares)	7,300,000	20,800,000
Cost of shares repurchased	$ 750	$ 2,150
Average cost per share	$ 102.81	$ 103.48
Remaining capacity under share repurchase authorization	$ 4,330	$ 4,330
Net shares acquired related to employee share-based compensation plans [Member]
Repurchase activity
Number of shares repurchased (in shares)	5,768	700,000
Shares acquired to cover tax withholding costs and exercise costs	$ 0.6	$ 73

Earnings per Share (details)

Earnings per Share (details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings per Share disclosure
Net income	$ 928	$ 919	$ 2,573	$ 2,654
Participating share-based awards - allocated income	(6)	(7)	(18)	(19)
Net income available to common shareholders -- basic	922	912	2,555	2,635
Net income available to common shareholders -- diluted	$ 922	$ 912	$ 2,555	$ 2,635
Weighted average shares outstanding, basic	307.6	335.1	314.3	342.9
Weighted average effects of dilutive securities, stock options and performance shares (in shares)	3.4	3.8	3.4	3.6
Weighted average shares outstanding, diluted	311	338.9	317.7	346.5
Net income per common share, basic	$ 3	$ 2.72	$ 8.13	$ 7.68
Net income per common share, diluted	$ 2.97	$ 2.69	$ 8.04	$ 7.60

Share-Based Incentive Compens49

Share-Based Incentive Compensation (details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Share-Based Incentive Compensation disclosure
Stock options vested at end of period, number (in shares)	7,684,929		7,684,929
Stock options vested at end of period, weighted average exercise price (per share)	$ 67.85		$ 67.85
Stock options vested at end of period, weighted average contractual life remaining			6 years 1 month 6 days
Stock options vested at end of period, aggregate intrinsic value	$ 251		$ 251
Stock options exercisable at end of period, number (in shares)	4,625,049		4,625,049
Stock options exercisable at end of period, weighted average exercise price (per share)	$ 53.53		$ 53.53
Stock options exercisable at end of period, weighted average contractual life remaining			4 years 7 months 6 days
Stock options exercisable at end of period, aggregate intrinsic value	$ 213		$ 213
Total compensation cost recognized in earnings for all share-based incentive compensation awards	31	$ 31	109	$ 106
Tax benefit recognized in earnings related to compensation costs	11	$ 10	37	$ 36
Total unrecognized compensation cost related to all nonvested share-based incentive compensation awards	$ 152		$ 152		$ 123
Weighted-average period of recognition for unrecognized compensation cost			1 year 9 months 18 days		1 year 8 months 12 days

Pension Plans, Retirement Ben50

Pension Plans, Retirement Benefits and Savings Plans (details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pension Plans [Member]
Defined benefit plan disclosure
Service cost	$ 33	$ 27	$ 98	$ 82
Interest cost on benefit obligation	36	38	108	113
Expected return on plan assets	(58)	(55)	(173)	(164)
Net periodic benefit cost, amortization of unrecognized net actuarial (gain) loss	24	17	72	49
Net periodic benefit cost	35	27	105	80
Postretirement Benefit Plans [Member]
Defined benefit plan disclosure
Interest cost on benefit obligation	3	3	8	8
Net periodic benefit cost, amortization of unrecognized prior service benefit	(1)	(1)	(2)	(2)
Net periodic benefit cost, amortization of unrecognized net actuarial (gain) loss		(1)		(2)
Net periodic benefit cost	$ 2	$ 1	$ 6	$ 4

Contingencies, Commitments an51

Contingencies, Commitments and Guarantees (details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Contingencies and Commitments disclosure
Unfunded commitments to private equity limited partnerships and real estate partnerships	$ 1,650	$ 1,630

Contingencies, Commitments an52

Contingencies, Commitments and Guarantees (details) - Loss Contingencies - Asbestos Direct Action Litigation [Member] $ in Millions	1 Months Ended
	Jan. 31, 2015USD ($)
Loss Contingencies
Settlement amount	$ 502
Total settlement amount	579
Interest related to settlement award	$ 77

Contingencies, Commitments an53

Contingencies, Commitments and Guarantees (details) - Gain Contingencies - United States Fidelity & Guaranty Company v. American Re-Insurance Company, et al. [Member] $ in Millions	61 Months Ended
	Sep. 30, 2015USD ($)item	Aug. 17, 2010item
Gain Contingencies
Number of other reinsurers beside American Re against which judgment was entered in a reinsurance dispute | item		3
Total settlement amount	$ 503
Settlement amount	238
Interest related to settlement award	$ 265
Annual interest rate accruing on judgment not yet paid	9.00%
Number of discrete issues modified in part by the summary judgment in reinsurance dispute | item	2

Contingencies, Commitments an54

Contingencies, Commitments and Guarantees (details) - Guarantees $ in Millions	Sep. 30, 2015USD ($)
Indemnifications related to the sale of businesses [Member]
Guarantor obligations
Maximum amount of contingent obligation	$ 454
Amount recognized on balance sheet for contingent obligation	2
Guarantees of certain investments and third-party loans [Member]
Guarantor obligations
Maximum amount of contingent obligation	150
Amount indemnified by a third party	75
Guarantees of certain insurance policy obligations [Member]
Guarantor obligations
Maximum amount of contingent obligation	480
Amount indemnified by a third party	$ 480

Consolidating Financial State55

Consolidating Financial Statements (Unaudited) (details) $ in Millions	Sep. 30, 2015USD ($)
Consolidating Financial Statements of The Travelers Companies, Inc. and Subsidiaries (Unaudited) disclosure
Amount of certain debt obligations of TPC that are unconditionally guaranteed by The Travelers Companies, Inc.	$ 700

Consolidating Financial State56

Consolidating Financial Statements (details) - Consolidating Statement of Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidating Statement of Income
Premiums		$ 6,032	$ 5,983	$ 17,851	$ 17,734
Net investment income		614	719	1,838	2,150
Fee income		112	110	334	329
Net realized investment gains (losses)	[1]	15	40	35	57
Other revenues		21	34	68	109
Total revenues		6,794	6,886	20,126	20,379
Claims and claim adjustment expenses		3,382	3,520	10,360	10,661
Amortization of deferred acquisition costs		987	984	2,913	2,899
General and administrative expenses		1,024	1,031	3,044	2,913
Interest expense		94	93	278	277
Total claims and expenses		5,487	5,628	16,595	16,750
Income before income taxes		1,307	1,258	3,531	3,629
Income tax expense (benefit)		379	339	958	975
Net income		928	919	2,573	2,654
Total other-than-temporary impairment losses		(14)	(8)	(26)	(16)
Other-than-temporary impairment losses recognized in net realized investment gains (losses)		(14)	(10)	(23)	(20)
Other-than-temporary impairment gains (losses) recognized in OCI		0	2	(3)	4
Reportable Legal Entities [Member] | TPC [Member]
Consolidating Statement of Income
Premiums		4,110	4,064	12,150	12,028
Net investment income		400	479	1,235	1,451
Fee income		112	110	334	328
Net realized investment gains (losses)		5	(2)	24	4
Other revenues		15	28	55	93
Total revenues		4,642	4,679	13,798	13,904
Claims and claim adjustment expenses		2,264	2,359	6,982	7,149
Amortization of deferred acquisition costs		663	642	1,956	1,927
General and administrative expenses		711	716	2,123	2,026
Interest expense		12	12	36	36
Total claims and expenses		3,650	3,729	11,097	11,138
Income before income taxes		992	950	2,701	2,766
Income tax expense (benefit)		293	263	742	770
Net income		699	687	1,959	1,996
Total other-than-temporary impairment losses		(5)	(8)	(13)	(11)
Other-than-temporary impairment losses recognized in net realized investment gains (losses)		(5)	(9)	(11)	(14)
Other-than-temporary impairment gains (losses) recognized in OCI			1	(2)	3
Reportable Legal Entities [Member] | Other Subsidiaries [Member]
Consolidating Statement of Income
Premiums		1,922	1,919	5,701	5,706
Net investment income		213	239	599	695
Fee income					1
Net realized investment gains (losses)		10	41	10	50
Other revenues		6	6	13	16
Total revenues		2,151	2,205	6,323	6,468
Claims and claim adjustment expenses		1,118	1,161	3,378	3,512
Amortization of deferred acquisition costs		324	342	957	972
General and administrative expenses		309	311	909	876
Total claims and expenses		1,751	1,814	5,244	5,360
Income before income taxes		400	391	1,079	1,108
Income tax expense (benefit)		113	106	292	291
Net income		287	285	787	817
Total other-than-temporary impairment losses		(9)		(13)	(5)
Other-than-temporary impairment losses recognized in net realized investment gains (losses)		(9)	(1)	(12)	(6)
Other-than-temporary impairment gains (losses) recognized in OCI			1	(1)	1
Reportable Legal Entities [Member] | Travelers [Member]
Consolidating Statement of Income
Net investment income		1	1	4	4
Net realized investment gains (losses)			1	1	3
Total revenues		1	2	5	7
General and administrative expenses		4	4	12	11
Interest expense		82	81	242	241
Total claims and expenses		86	85	254	252
Income before income taxes		(85)	(83)	(249)	(245)
Income tax expense (benefit)		(27)	(30)	(76)	(86)
Net income of subsidiaries		986	972	2,746	2,813
Net income		928	919	2,573	2,654
Eliminations [Member]
Consolidating Statement of Income
Net income of subsidiaries		(986)	(972)	(2,746)	(2,813)
Net income		$ (986)	$ (972)	$ (2,746)	$ (2,813)
[1]	Total other-than-temporary impairment (OTTI) losses were $(14) million and $(8) million for the three months ended September 30, 2015 and 2014, respectively, and $(26) million and $(16) million for the nine months ended September 30, 2015 and 2014, respectively. Of total OTTI, credit losses of $(14) million and $(10) million for the three months ended September 30, 2015 and 2014, respectively, and $(23) million and $(20) million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $(3) million and $4 million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in other comprehensive income (loss) as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income.

Consolidating Financial State57

Consolidating Financial Statements (details) - Consolidating Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidating Statement of Comprehensive Income
Net income	$ 928	$ 919	$ 2,573	$ 2,654
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	67	(154)	(829)	901
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	(3)	1	(13)	4
Net changes in benefit plan assets and obligations	24	15	71	45
Net changes in unrealized foreign currency translation	(227)	(203)	(407)	(149)
Other comprehensive income (loss) before income taxes	(139)	(341)	(1,178)	801
Income tax expense (benefit)	(2)	(79)	(330)	311
Other comprehensive income (loss), net of taxes, before other comprehensive income (loss) of subsidiaries	(137)	(262)	(848)	490
Other comprehensive income (loss), net of taxes	(137)	(262)	(848)	490
Comprehensive income	791	657	1,725	3,144
Reportable Legal Entities [Member] | TPC [Member]
Consolidating Statement of Comprehensive Income
Net income	699	687	1,959	1,996
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	93	(118)	(492)	632
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	(2)	2	(11)	11
Net changes in benefit plan assets and obligations	1		2
Net changes in unrealized foreign currency translation	(148)	(120)	(293)	(94)
Other comprehensive income (loss) before income taxes	(56)	(236)	(794)	549
Income tax expense (benefit)	8	(62)	(224)	210
Other comprehensive income (loss), net of taxes, before other comprehensive income (loss) of subsidiaries	(64)	(174)	(570)	339
Other comprehensive income (loss), net of taxes	(64)	(174)	(570)	339
Comprehensive income	635	513	1,389	2,335
Reportable Legal Entities [Member] | Other Subsidiaries [Member]
Consolidating Statement of Comprehensive Income
Net income	287	285	787	817
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	(17)	(35)	(329)	266
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	(1)	(1)	(2)	(7)
Net changes in benefit plan assets and obligations	1	1	2	1
Net changes in unrealized foreign currency translation	(79)	(83)	(114)	(55)
Other comprehensive income (loss) before income taxes	(96)	(118)	(443)	205
Income tax expense (benefit)	(14)	(22)	(126)	84
Other comprehensive income (loss), net of taxes, before other comprehensive income (loss) of subsidiaries	(82)	(96)	(317)	121
Other comprehensive income (loss), net of taxes	(82)	(96)	(317)	121
Comprehensive income	205	189	470	938
Reportable Legal Entities [Member] | Travelers [Member]
Consolidating Statement of Comprehensive Income
Net income	928	919	2,573	2,654
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	(9)	(1)	(8)	3
Net changes in benefit plan assets and obligations	22	14	67	44
Other comprehensive income (loss) before income taxes	13	13	59	47
Income tax expense (benefit)	4	5	20	17
Other comprehensive income (loss), net of taxes, before other comprehensive income (loss) of subsidiaries	9	8	39	30
Other comprehensive income (loss) of subsidiaries	(146)	(270)	(887)	460
Other comprehensive income (loss), net of taxes	(137)	(262)	(848)	490
Comprehensive income	791	657	1,725	3,144
Eliminations [Member]
Consolidating Statement of Comprehensive Income
Net income	(986)	(972)	(2,746)	(2,813)
Other comprehensive income (loss) of subsidiaries	146	270	887	(460)
Other comprehensive income (loss), net of taxes	146	270	887	(460)
Comprehensive income	$ (840)	$ (702)	$ (1,859)	$ (3,273)

Consolidating Financial State58

Consolidating Financial Statements (details) - Consolidating Balance Sheet (Unaudited) - USD ($) shares in Millions, $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Consolidating Balance Sheet
Fixed maturities, available for sale, at fair value	$ 61,671	$ 63,474
Equity securities, available for sale, at fair value	719	899
Real estate investments	1,011	938
Short-term securities	5,128	4,364
Other investments	3,530	3,586
Total investments	72,059	73,261
Cash	344	374	$ 367	$ 294
Investment income accrued	613	685
Premiums receivable	6,559	6,298
Reinsurance recoverables	8,949	9,260
Ceded unearned premiums	789	678
Deferred acquisition costs	1,904	1,835
Deferred taxes	241	33
Contractholder receivables	4,390	4,362
Goodwill	3,579	3,611
Other intangible assets	280	304
Other assets	2,403	2,377
Total assets	102,110	103,078
Claims and claim adjustment expense reserves	48,596	49,850
Unearned premium reserves	12,284	11,839
Contractholder payables	4,390	4,362
Payables for reinsurance premiums	439	336
Debt	6,743	6,349
Other liabilities	5,625	5,506
Total liabilities	78,077	78,242
Common stock	22,099	21,843	21,764	21,500
Retained earnings	29,263	27,251	26,394	24,291
Accumulated other comprehensive income	32	880	1,300	810
Treasury stock, at cost	(27,361)	(25,138)	(24,137)	$ (21,805)
Total shareholders' equity	24,033	24,836	$ 25,321
Total liabilities and shareholders' equity	102,110	103,078
Fixed maturities, available for sale, amortized cost	59,688	60,801
Equity securities, available for sale, cost	$ 553	$ 579
Common stock, shares authorized	1,750	1,750
Common stock, shares issued	304.2	322.2
Common stock, shares outstanding	304.2	322.2	331.4	353.5
Treasury stock, at cost, shares	458.8	437.3
Reportable Legal Entities [Member] | TPC [Member]
Consolidating Balance Sheet
Fixed maturities, available for sale, at fair value	$ 42,426	$ 43,401
Equity securities, available for sale, at fair value	200	236
Real estate investments	56	56
Short-term securities	2,295	2,128
Other investments	2,578	2,630
Total investments	47,555	48,451
Cash	201	221	$ 216	$ 137
Investment income accrued	423	468
Premiums receivable	4,433	4,241
Reinsurance recoverables	5,846	6,156
Ceded unearned premiums	713	608
Deferred acquisition costs	1,702	1,622
Deferred taxes	127	23
Contractholder receivables	3,370	3,306
Goodwill	2,577	2,602
Other intangible assets	201	216
Other assets	2,003	1,931
Total assets	69,151	69,845
Claims and claim adjustment expense reserves	32,124	32,999
Unearned premium reserves	8,576	8,201
Contractholder payables	3,370	3,306
Payables for reinsurance premiums	264	194
Debt	692	692
Other liabilities	4,142	4,084
Total liabilities	49,168	49,476
Additional paid-in capital	11,634	11,634
Retained earnings	7,857	7,673
Accumulated other comprehensive income	492	1,062
Total shareholders' equity	19,983	20,369
Total liabilities and shareholders' equity	69,151	69,845
Reportable Legal Entities [Member] | Other Subsidiaries [Member]
Consolidating Balance Sheet
Fixed maturities, available for sale, at fair value	19,199	20,043
Equity securities, available for sale, at fair value	383	522
Real estate investments	955	882
Short-term securities	877	706
Other investments	951	955
Total investments	22,365	23,108
Cash	141	151	149	154
Investment income accrued	186	215
Premiums receivable	2,126	2,057
Reinsurance recoverables	3,103	3,104
Ceded unearned premiums	76	70
Deferred acquisition costs	202	213
Deferred taxes	56	(40)
Contractholder receivables	1,020	1,056
Goodwill	1,002	1,009
Other intangible assets	79	88
Other assets	385	429
Total assets	30,741	31,460
Claims and claim adjustment expense reserves	16,472	16,851
Unearned premium reserves	3,708	3,638
Contractholder payables	1,020	1,056
Payables for reinsurance premiums	175	142
Other liabilities	1,222	1,308
Total liabilities	22,597	22,995
Common stock	390	390
Additional paid-in capital	6,502	6,502
Retained earnings	1,070	1,073
Accumulated other comprehensive income	182	500
Total shareholders' equity	8,144	8,465
Total liabilities and shareholders' equity	30,741	31,460
Reportable Legal Entities [Member] | Travelers [Member]
Consolidating Balance Sheet
Fixed maturities, available for sale, at fair value	46	30
Equity securities, available for sale, at fair value	136	141
Short-term securities	1,956	1,530
Other investments	1	1
Total investments	2,139	1,702
Cash	2	2	$ 2	$ 3
Investment income accrued	4	2
Deferred taxes	58	50
Investment in subsidiaries	28,115	28,821
Other assets	15	17
Total assets	30,333	30,594
Debt	6,051	5,657
Other liabilities	261	114
Total liabilities	6,312	5,771
Common stock	22,099	21,843
Retained earnings	29,251	27,238
Accumulated other comprehensive income	32	880
Treasury stock, at cost	(27,361)	(25,138)
Total shareholders' equity	24,021	24,823
Total liabilities and shareholders' equity	30,333	30,594
Eliminations [Member]
Consolidating Balance Sheet
Investment in subsidiaries	(28,115)	(28,821)
Total assets	(28,115)	(28,821)
Common stock	(390)	(390)
Additional paid-in capital	(18,136)	(18,136)
Retained earnings	(8,915)	(8,733)
Accumulated other comprehensive income	(674)	(1,562)
Total shareholders' equity	(28,115)	(28,821)
Total liabilities and shareholders' equity	$ (28,115)	$ (28,821)

Consolidating Financial State59

Consolidating Financial Statements (details) - Consolidating Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidating Statement of Cash Flows
Net income	$ 928	$ 919	$ 2,573	$ 2,654
Net adjustments to reconcile net income to net cash provided by operating activities			101	514
Net cash provided by operating activities			2,674	3,168
Proceeds from maturities of fixed maturities			8,805	7,975
Proceeds from sales of investments, fixed maturities			1,555	927
Proceeds from sales of investments, equity securities			38	128
Proceeds from sales of investments, real estate investments			15	5
Proceeds from sales of investments, other investments			505	612
Purchases of investments, fixed maturities			(9,972)	(8,237)
Purchases of investments, equity securities			(31)	(47)
Purchases of investments, real estate investments			(116)	(41)
Purchases of investments, other investments			(389)	(406)
Net purchases of short-term securities			(782)	(1,163)
Securities transactions in course of settlement			103	119
Acquisition, net of cash acquired				(12)
Other investing activities			(222)	(262)
Net cash used in investing activities			(491)	(402)
Issuance of debt			392
Treasury stock acquired - share repurchase authorization			(2,150)	(2,275)
Treasury stock acquired - net employee share-based compensation			(73)	(56)
Dividends paid to shareholders			(557)	(549)
Issuance of common stock - employee share options			142	154
Excess tax benefits from share-based payment arrangements			42	38
Net cash used in financing activities			(2,204)	(2,688)
Effect of exchange rate changes on cash			(9)	(5)
Net increase (decrease) in cash			(30)	73
Cash at beginning of year			374	294
Cash at end of period	344	367	344	367
Income taxes paid (received)			882	785
Interest paid			217	217
Reportable Legal Entities [Member] | TPC [Member]
Consolidating Statement of Cash Flows
Net income	699	687	1,959	1,996
Net adjustments to reconcile net income to net cash provided by operating activities			90	391
Net cash provided by operating activities			2,049	2,387
Proceeds from maturities of fixed maturities			5,929	4,886
Proceeds from sales of investments, fixed maturities			935	511
Proceeds from sales of investments, equity securities			14	83
Proceeds from sales of investments, real estate investments				1
Proceeds from sales of investments, other investments			341	317
Purchases of investments, fixed maturities			(6,845)	(4,888)
Purchases of investments, equity securities			(3)	(3)
Purchases of investments, real estate investments				(22)
Purchases of investments, other investments			(311)	(292)
Net purchases of short-term securities			(172)	(552)
Securities transactions in course of settlement			80	66
Acquisition, net of cash acquired				(9)
Other investing activities			(262)	(256)
Net cash used in investing activities			(294)	(158)
Dividends paid to parent company			(1,774)	(2,150)
Net cash used in financing activities			(1,774)	(2,150)
Effect of exchange rate changes on cash			(1)
Net increase (decrease) in cash			(20)	79
Cash at beginning of year			221	137
Cash at end of period	201	216	201	216
Income taxes paid (received)			748	684
Interest paid			40	40
Reportable Legal Entities [Member] | Other Subsidiaries [Member]
Consolidating Statement of Cash Flows
Net income	287	285	787	817
Net adjustments to reconcile net income to net cash provided by operating activities			(247)	(73)
Net cash provided by operating activities			540	744
Proceeds from maturities of fixed maturities			2,869	3,088
Proceeds from sales of investments, fixed maturities			620	415
Proceeds from sales of investments, equity securities			24	41
Proceeds from sales of investments, real estate investments			15	4
Proceeds from sales of investments, other investments			164	295
Purchases of investments, fixed maturities			(3,103)	(3,345)
Purchases of investments, equity securities			(26)	(38)
Purchases of investments, real estate investments			(116)	(19)
Purchases of investments, other investments			(78)	(114)
Net purchases of short-term securities			(184)	(326)
Securities transactions in course of settlement			23	53
Acquisition, net of cash acquired				(3)
Other investing activities			40	(6)
Net cash used in investing activities			248	45
Dividends paid to parent company			(790)	(789)
Net cash used in financing activities			(790)	(789)
Effect of exchange rate changes on cash			(8)	(5)
Net increase (decrease) in cash			(10)	(5)
Cash at beginning of year			151	154
Cash at end of period	141	149	141	149
Income taxes paid (received)			286	215
Reportable Legal Entities [Member] | Travelers [Member]
Consolidating Statement of Cash Flows
Net income	928	919	2,573	2,654
Net adjustments to reconcile net income to net cash provided by operating activities			76	322
Net cash provided by operating activities			2,649	2,976
Proceeds from maturities of fixed maturities			7	1
Proceeds from sales of investments, fixed maturities				1
Proceeds from sales of investments, equity securities				4
Purchases of investments, fixed maturities			(24)	(4)
Purchases of investments, equity securities			(2)	(6)
Net purchases of short-term securities			(426)	(285)
Net cash used in investing activities			(445)	(289)
Issuance of debt			392
Treasury stock acquired - share repurchase authorization			(2,150)	(2,275)
Treasury stock acquired - net employee share-based compensation			(73)	(56)
Dividends paid to shareholders			(557)	(549)
Issuance of common stock - employee share options			142	154
Excess tax benefits from share-based payment arrangements			42	38
Net cash used in financing activities			(2,204)	(2,688)
Net increase (decrease) in cash				(1)
Cash at beginning of year			2	3
Cash at end of period	2	2	2	2
Income taxes paid (received)			(152)	(114)
Interest paid			177	177
Eliminations [Member]
Consolidating Statement of Cash Flows
Net income	$ (986)	$ (972)	(2,746)	(2,813)
Net adjustments to reconcile net income to net cash provided by operating activities			182	(126)
Net cash provided by operating activities			(2,564)	(2,939)
Dividends paid to parent company			2,564	2,939
Net cash used in financing activities			$ 2,564	$ 2,939