The Travelers Companies, Inc. (TRV) 10-Q 20 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 17, 2017
Document and Entity Information
Registrant name	Travelers Companies, Inc.
Central index key	86,312
Document type	10-Q
Document period end date	Jun. 30, 2017
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		275,947,036
Document fiscal year focus	2,017
Document fiscal period focus	Q2

Consolidated Statement of Incom

Consolidated Statement of Income (Unaudited) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues
Premiums		$ 6,351	$ 6,067	$ 12,534	$ 12,048
Net investment income		598	549	1,208	1,093
Fee income		116	119	229	236
Net realized investment gains	[1]	80	19	85	10
Other revenues		39	31	70	84
Total revenues		7,184	6,785	14,126	13,471
Claims and expenses
Claims and claim adjustment expenses		4,225	3,762	8,319	7,474
Amortization of deferred acquisition costs		1,032	989	2,035	1,960
General and administrative expenses		1,045	1,054	2,041	2,049
Interest expense		92	93	181	184
Total claims and expenses		6,394	5,898	12,576	11,667
Income before income taxes		790	887	1,550	1,804
Income tax expense		195	223	338	449
Net income		$ 595	$ 664	$ 1,212	$ 1,355
Net income per share
Basic		$ 2.13	$ 2.27	$ 4.32	$ 4.60
Diluted		$ 2.11	$ 2.24	$ 4.28	$ 4.55
Weighted average number of common shares outstanding
Basic		277.5	290.1	278.6	292.1
Diluted		280	293.6	281.2	295.6
Cash dividends declared per common share		$ 0.72	$ 0.67	$ 1.39	$ 1.28
[1]	Total other-than-temporary impairment (OTTI) losses were $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(6) million and $(32) million for the six months ended June 30, 2017 and 2016, respectively. Of total OTTI, credit losses of $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(7) million and $(22) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million for each of the three months ended June 30, 2017 and 2016, and $1 million and $(10) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in other comprehensive income 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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statement of Income (Unaudited)
Total other-than-temporary impairment losses	$ (5)	$ (4)	$ (6)	$ (32)
Other-than-temporary impairment, credit losses recognized in net realized investment gains	(5)	(4)	(7)	(22)
Unrealized gains (losses) from other changes in total other-than-temporary impairments recognized in other comprehensive income as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	$ 0	$ 0	$ 1	$ (10)

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statement of Comprehensive Income (Unaudited)
Net income	$ 595	$ 664	$ 1,212	$ 1,355
Other comprehensive income:
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	327	879	471	1,593
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	2	12	2	17
Net changes in benefit plan assets and obligations	17	18	34	34
Net changes in unrealized foreign currency translation	48	(35)	89	68
Other comprehensive income before income taxes	394	874	596	1,712
Income tax expense	123	323	185	590
Other comprehensive income, net of taxes	271	551	411	1,122
Comprehensive income	$ 866	$ 1,215	$ 1,623	$ 2,477

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited at June 30, 2017) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets
Fixed maturities, available for sale, at fair value (amortized cost $60,482 and $59,650)	$ 61,907	$ 60,515
Equity securities, available for sale, at fair value (cost $558 and $504)	700	732
Real estate investments	920	928
Short-term securities	5,292	4,865
Other investments	3,512	3,448
Total investments	72,331	70,488
Cash	328	307	$ 265	$ 380
Investment income accrued	602	630
Premiums receivable	7,345	6,722
Reinsurance recoverables	8,150	8,287
Ceded unearned premiums	665	589
Deferred acquisition costs	2,051	1,923
Deferred taxes	201	465
Contractholder receivables	4,700	4,609
Goodwill	3,589	3,580
Other intangible assets	264	268
Other assets	2,443	2,377
Total assets	102,669	100,245
Liabilities
Claims and claim adjustment expense reserves	48,574	47,949
Unearned premium reserves	13,052	12,329
Contractholder payables	4,700	4,609
Payables for reinsurance premiums	364	273
Debt	6,920	6,437
Other liabilities	5,201	5,427
Total liabilities	78,811	77,024
Shareholders' equity
Common stock (1,750.0 shares authorized; 275.9 and 279.6 shares issued and outstanding)	22,781	22,614
Retained earnings	33,016	32,196
Accumulated other comprehensive loss	(344)	(755)
Treasury stock, at cost (495.7 and 489.5 shares)	(31,595)	(30,834)
Total shareholders' equity	23,858	23,221	$ 24,714
Total liabilities and shareholders' equity	$ 102,669	$ 100,245

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parentheticals (Unaudited at June 30, 2017) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Consolidated Balance Sheet (Unaudited at June 30, 2017)
Fixed maturities, available for sale, amortized cost	$ 60,482	$ 59,650
Equity securities, available for sale, cost	$ 558	$ 504
Common stock, shares authorized	1,750	1,750
Common stock, shares issued	275.9	279.6
Common stock, shares outstanding	275.9	279.6
Treasury stock, at cost, shares	495.7	489.5

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common stock [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss), net of tax [Member]	Treasury stock, at cost [Member]	Common shares outstanding [Member]
Shareholders' equity, beginning of year at Dec. 31, 2015		$ 22,172	$ 29,945	$ (157)	$ (28,362)
Shareholders' Equity [Rollforward]
Employee share-based compensation		95
Compensation amortization under share-based plans and other changes		82
Net income	$ 1,355		1,355
Dividends			(378)
Other			(1)
Other comprehensive income	1,122			1,122
Treasury stock acquired - share repurchase authorization					(1,100)
Net shares acquired related to employee share-based compensation plans					(59)
Shareholders' equity, end of period at Jun. 30, 2016	24,714	22,349	30,921	965	(29,521)
Balance, beginning of year at Dec. 31, 2015						295.9
Common shares outstanding
Treasury stock acquired - share repurchase authorization						(10)
Net shares issued under employee share-based compensation plans						2.4
Balance, end of period at Jun. 30, 2016						288.3
Shareholders' equity, beginning of year at Dec. 31, 2016	23,221	22,614	32,196	(755)	(30,834)
Shareholders' Equity [Rollforward]
Employee share-based compensation		94
Compensation amortization under share-based plans and other changes		73
Net income	1,212		1,212
Dividends			(391)
Other			(1)
Other comprehensive income	411			411
Treasury stock acquired - share repurchase authorization	(700)				(700)
Net shares acquired related to employee share-based compensation plans	(61)				(61)
Shareholders' equity, end of period at Jun. 30, 2017	$ 23,858	$ 22,781	$ 33,016	$ (344)	$ (31,595)
Balance, beginning of year at Dec. 31, 2016	279.6					279.6
Common shares outstanding
Treasury stock acquired - share repurchase authorization	(5.7)					(5.7)
Net shares issued under employee share-based compensation plans						2
Balance, end of period at Jun. 30, 2017	275.9					275.9

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net income		$ 1,212	$ 1,355
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized investment gains	[1]	(85)	(10)
Depreciation and amortization		409	413
Deferred federal income tax expense		106	75
Amortization of deferred acquisition costs		2,035	1,960
Equity in income from other investments		(210)	(44)
Premiums receivable		(609)	(567)
Reinsurance recoverables		157	316
Deferred acquisition costs		(2,157)	(2,062)
Claims and claim adjustment expense reserves		498	(387)
Unearned premium reserves		689	531
Other operating activities		(460)	(287)
Net cash provided by operating activities		1,585	1,293
Cash flows from investing activities
Proceeds from maturities of fixed maturities		4,300	3,773
Proceeds from sales of investments:
Fixed maturities		563	739
Equity securities		200	38
Real estate investments		20	69
Other investments		403	343
Purchases of investments:
Fixed maturities		(5,673)	(5,705)
Equity securities		(166)	(26)
Real estate investments		(26)	(20)
Other investments		(259)	(290)
Net (purchases) sales of short-term securities		(424)	681
Securities transactions in course of settlement		170	461
Other investing activities		(129)	(154)
Net cash used in investing activities		(1,021)	(91)
Cash flows from financing activities
Treasury stock acquired - share repurchase authorization		(700)	(1,100)
Treasury stock acquired - net employee share-based compensation		(61)	(59)
Dividends paid to shareholders		(389)	(375)
Payment of debt		(207)	(400)
Issuance of debt		689	491
Issuance of common stock - employee share options		118	129
Net cash used in financing activities		(550)	(1,314)
Effect of exchange rate changes on cash		7	(3)
Net increase (decrease) in cash		21	(115)
Cash at beginning of year		307	380
Cash at end of period		328	265
Supplemental disclosure of cash flow information
Income taxes paid		323	467
Interest paid		$ 178	$ 180
[1]	Total other-than-temporary impairment (OTTI) losses were $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(6) million and $(32) million for the six months ended June 30, 2017 and 2016, respectively. Of total OTTI, credit losses of $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(7) million and $(22) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million for each of the three months ended June 30, 2017 and 2016, and $1 million and $(10) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in other comprehensive income 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	6 Months Ended
	Jun. 30, 2017
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, 2016 (the Company’s 2016 Annual Report) as updated by the Company’s Current Report on Form 8-K filed on June 20, 2017. The Form 8-K was filed to reclassify certain of the Company’s historical segment information to conform the presentation of such segment information to the manner in which the Company’s businesses have been managed beginning April 1, 2017 (as described in more detail below) and reflect the revised names and descriptions of certain businesses comprising these segments and other related changes. 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. On March 13, 2017, the Company announced an agreement to acquire Simply Business, a leading digital provider of insurance policies to small businesses in the United Kingdom, for total consideration of approximately $490 million, which includes the repayment of debt and other obligations at the completion of the transaction. The transaction is expected to close in the third quarter of 2017, subject to regulatory approvals and other customary closing conditions. The Company will use a portion of the net proceeds from the issuance of senior notes in May 2017 (described in more detail in note 8) and internal resources to fund this transaction. Adoption of Accounting Standards Investments — Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting In March 2016, the Financial Accounting Standards Board (FASB) issued updated guidance that eliminates the requirement to retroactively apply the equity method of accounting when an investment that was previously accounted for using another method of accounting becomes qualified to apply the equity method due to an increase in the level of ownership interest or degree of influence. If the investment was previously accounted for as an available-for-sale security, any related unrealized gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for the equity method is recognized through earnings. The updated guidance was effective for reporting periods beginning after December 15, 2016, and was applied prospectively. The adoption of this guidance did not have a material effect on the Company’s results of operations, financial position or liquidity. Derivatives and Hedging: Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued updated guidance clarifying that when a call (put) option in a debt instrument can accelerate the repayment of principal on the debt instrument, a reporting entity does not need to assess whether the contingent event that triggers the ability to exercise the call (put) option is related to interest rates or credit risk in determining whether the option should be accounted for separately. The updated guidance was effective for reporting periods beginning after December 15, 2016. The adoption of this guidance did not have a material effect on the Company’s results of operations, financial position or liquidity. Compensation — Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, the FASB issued updated guidance to improve the presentation of net periodic pension cost and net periodic post retirement cost (net benefit costs). Net benefit costs comprise several components that reflect different aspects of an employer’s financial arrangements as well as the cost of benefits provided to employees. The update requires that the employer service cost component be reported in the same lines as other employee compensation cost and that the other components (non-service costs) be presented separately from the service cost and outside of a subtotal of income from operations if one is presented. The update also allows only the service cost component to be eligible for capitalization in assets when applicable. The updated guidance is effective for reporting periods beginning after December 15, 2017. The update is to be applied retrospectively with respect to the presentation of service cost and non-service cost and prospectively with respect to applying the service cost only eligible for capitalization in assets guidance. Early adoption is permitted as of the first interim period of an annual period if an entity issues interim financial statements. The Company adopted the updated guidance effective January 1, 2017. See note 12 which has been expanded to disclose the amount of service cost and non-service cost components of net periodic benefit cost and the line items in the consolidated statement of income in which such amounts are reported. The updated guidance with respect to only service costs being eligible for capitalization in assets was not applicable. For information regarding accounting standards that the Company adopted during the years presented, see the “Adoption of Accounting Standards ” Compensation — Stock Compensation: Scope of Modification Accounting In May 2017, the FASB issued updated guidance related to a change to the terms or conditions (modification) of a share-based payment award. The updated guidance provides that an entity should account for the effects of a modification unless the fair value and vesting conditions of the modified award and the classification of the modified award (equity or liability instrument) are the same as the original award immediately before the modification. The updated guidance is effective for the quarter ending March 31, 2018. The update is to be applied prospectively to an award modified on or after the adoption date. Early adoption is permitted in any interim periods for which financial statements have not yet been made available for issuance. The Company adopted the updated guidance effective April 1, 2017. The adoption did not have an effect on the Company’s results of operations, financial position or liquidity. Accounting Standards Not Yet Adopted For information regarding accounting standards that the Company has not yet adopted, see the “Other Accounting Standards Not Yet Adopted ” Nature of Operations Effective April 1, 2017, the Company’s results are reported in the following three business segments — Business Insurance, Bond & Specialty Insurance and Personal Insurance, reflecting a change in the manner in which the Company’s businesses are managed as of that date, as well as the aggregation of products and services based on the type of customer, how the business is marketed and the manner in which risks are underwritten. While the segmentation of the Company’s domestic businesses is unchanged, the Company’s international businesses, which were previously managed and reported in total within the Business and International Insurance segment, are now disaggregated by product type among the three newly aligned reportable business segments. All prior periods presented have been reclassified to conform to this presentation. In connection with these changes, the Company has revised the names and descriptions of certain businesses comprising the Company’s segments and has reflected other related changes. The new reportable business segments are as follows: Business Insurance Business Insurance offers a broad array of property and casualty insurance and insurance related services to its customers, primarily in the United States, as well as in Canada, the United Kingdom, the Republic of Ireland, Brazil and throughout other parts of the world as a corporate member of Lloyd’s. Business Insurance is comprised of Select Accounts, Middle Market, National Accounts, National Property and Other, and International. Business Insurance also includes the Special Liability Group (which manages the Company’s asbestos and environmental liabilities) and the assumed reinsurance and certain other runoff operations, which are collectively referred to as Business Insurance Other. Bond & Specialty Insurance Bond & Specialty Insurance provides surety, fidelity, management liability, professional liability, and other property and casualty coverages and related risk management services to its customers in the United States and certain specialty insurance products in Canada, the United Kingdom, the Republic of Ireland and Brazil, utilizing various degrees of financially-based underwriting approaches. Personal Insurance Personal Insurance writes a broad range of property and casualty insurance covering individuals’ personal risks, primarily in the United States, as well as in Canada. The primary products of automobile and homeowners insurance are complemented by a broad suite of related coverages.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Information disclosure
Segment Information disclosure [Text Block]	2. SEGMENT INFORMATION The following tables summarize the components of the Company’s revenues, income and total assets by reportable business segments: (for the three months Business Bond & Specialty Personal Total 2017 Premiums $ 3,504 $ 575 $ 2,272 $ 6,351 Net investment income 447 56 95 598 Fee income 112 — 4 116 Other revenues 15 6 15 36 Total segment revenues (1) $ 4,078 $ 637 $ 2,386 $ 7,101 Segment income (1) $ 429 $ 163 $ 12 $ 604 2016 Premiums $ 3,439 $ 559 $ 2,069 $ 6,067 Net investment income 404 58 87 549 Fee income 115 — 4 119 Other revenues 8 5 15 28 Total segment revenues (1) $ 3,966 $ 622 $ 2,175 $ 6,763 Segment income (1) $ 401 $ 215 $ 95 $ 711 (1) (for the six months Business Bond & Specialty Personal Total 2017 Premiums $ 6,933 $ 1,130 $ 4,471 $ 12,534 Net investment income 900 117 191 1,208 Fee income 221 — 8 229 Other revenues 24 11 31 66 Total segment revenues (1) $ 8,078 $ 1,258 $ 4,701 $ 14,037 Segment income (1) $ 871 $ 308 $ 101 $ 1,280 2016 Premiums $ 6,853 $ 1,111 $ 4,084 $ 12,048 Net investment income 803 118 172 1,093 Fee income 229 — 7 236 Other revenues 38 9 31 78 Total segment revenues (1) $ 7,923 $ 1,238 $ 4,294 $ 13,455 Segment income (1) $ 848 $ 375 $ 247 $ 1,470 (1) Business Segment Reconciliations Three Months Ended Six Months Ended (in millions) 2017 2016 2017 2016 Revenue reconciliation Earned premiums Business Insurance: Domestic: Workers’ compensation $ 999 $ 987 $ 1,975 $ 1,968 Commercial automobile 521 503 1,027 994 Commercial property 443 442 878 879 General liability 498 485 989 967 Commercial multi-peril 797 786 1,571 1,568 Other 7 9 14 14 Total Domestic 3,265 3,212 6,454 6,390 International 239 227 479 463 Total Business Insurance 3,504 3,439 6,933 6,853 Bond & Specialty Insurance: Domestic: Fidelity and surety 245 239 479 469 General liability 239 235 474 469 Other 46 44 91 88 Total Domestic 530 518 1,044 1,026 International 45 41 86 85 Total Bond & Specialty Insurance 575 559 1,130 1,111 Personal Insurance: Domestic: Automobile 1,145 974 2,239 1,910 Homeowners and Other 977 944 1,932 1,882 Total Domestic 2,122 1,918 4,171 3,792 International 150 151 300 292 Total Personal Insurance 2,272 2,069 4,471 4,084 Total earned premiums 6,351 6,067 12,534 12,048 Net investment income 598 549 1,208 1,093 Fee income 116 119 229 236 Other revenues 36 28 66 78 Total segment revenues 7,101 6,763 14,037 13,455 Other revenues 3 3 4 6 Net realized investment gains 80 19 85 10 Total revenues $ 7,184 $ 6,785 $ 14,126 $ 13,471 Income reconciliation, net of tax Total segment income $ 604 $ 711 $ 1,280 $ 1,470 Interest Expense and Other (1) (61 ) (62 ) (123 ) (123 ) Core income 543 649 1,157 1,347 Net realized investment gains 52 15 55 8 Net income $ 595 $ 664 $ 1,212 $ 1,355 (1) (in millions) June 30, December 31, Asset reconciliation Business Insurance $ 77,653 $ 75,730 Bond & Specialty Insurance 8,998 8,726 Personal Insurance 15,666 15,426 Total segment assets 102,317 99,882 Other assets (1) 352 363 Total consolidated assets $ 102,669 $ 100,245 (1)

Investments

Investments	6 Months Ended
	Jun. 30, 2017
Investments disclosure
Investments disclsoure [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 June 30, 2017, in millions) Cost Gains Losses Value U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,023 $ 10 $ 5 $ 2,028 Obligations of states, municipalities and political subdivisions: Local general obligation 14,010 410 79 14,341 Revenue 11,589 317 63 11,843 State general obligation 1,612 45 11 1,646 Pre-refunded 4,112 172 — 4,284 Total obligations of states, municipalities and political subdivisions 31,323 944 153 32,114 Debt securities issued by foreign governments 1,537 24 5 1,556 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,675 97 5 1,767 All other corporate bonds 23,835 589 77 24,347 Redeemable preferred stock 89 6 — 95 Total $ 60,482 $ 1,670 $ 245 $ 61,907 Amortized Gross Unrealized Fair (at December 31, 2016, in millions) Cost Gains Losses Value U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,031 $ 9 $ 5 $ 2,035 Obligations of states, municipalities and political subdivisions: Local general obligation 13,955 271 182 14,044 Revenue 10,910 215 147 10,978 State general obligation 1,717 36 22 1,731 Pre-refunded 4,968 190 1 5,157 Total obligations of states, municipalities and political subdivisions 31,550 712 352 31,910 Debt securities issued by foreign governments 1,631 34 3 1,662 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,614 100 6 1,708 All other corporate bonds 22,737 508 138 23,107 Redeemable preferred stock 87 6 — 93 Total $ 59,650 $ 1,369 $ 504 $ 60,515 Pre-refunded bonds of $4.28 billion and $5.16 billion at June 30, 2017 and December 31, 2016, respectively, were bonds for which states or municipalities have established irrevocable trusts, almost exclusively comprised of U.S. Treasury securities and obligations of U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest due under the bonds. Proceeds from sales of fixed maturities classified as available for sale were $563 million and $739 million during the six months ended June 30, 2017 and 2016, respectively. Gross gains of $17 million and $46 million and gross losses of $4 million and $8 million were realized on those sales during the six months ended June 30, 2017 and 2016, respectively. Equity Securities The cost and fair value of investments in equity securities were as follows: Gross Unrealized Fair (at June 30, 2017, in millions) Cost Gains Losses Value Public common stock $ 443 $ 130 $ 6 $ 567 Non-redeemable preferred stock 115 23 5 133 Total $ 558 $ 153 $ 11 $ 700 Gross Unrealized Fair (at December 31, 2016, in millions) Cost Gains Losses Value Public common stock $ 390 $ 216 $ 3 $ 603 Non-redeemable preferred stock 114 20 5 129 Total $ 504 $ 236 $ 8 $ 732 Proceeds from sales of equity securities classified as available for sale were $200 million and $38 million during the six months ended June 30, 2017 and 2016, respectively. Gross gains of $88 million and $8 million and gross losses of $1 million and $2 million were realized on those sales during the six months ended June 30, 2017 and 2016, respectively. Unrealized Investment Losses The following tables summarize, for all investments in an unrealized loss position at June 30, 2017 and December 31, 2016, 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 2016 Annual Report as updated by the Company’s Current Report on Form 8-K filed on June 20, 2017. Less than 12 months 12 months or longer Total (at June 30, 2017, 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 $ 1,342 $ 5 $ 5 $ — $ 1,347 $ 5 Obligations of states, municipalities and political subdivisions 6,088 142 179 11 6,267 153 Debt securities issued by foreign governments 432 5 — — 432 5 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 470 5 37 — 507 5 All other corporate bonds 4,980 66 279 11 5,259 77 Total fixed maturities 13,312 223 500 22 13,812 245 Equity securities Public common stock 150 3 14 3 164 6 Non-redeemable preferred stock — — 61 5 61 5 Total equity securities 150 3 75 8 225 11 Total $ 13,462 $ 226 $ 575 $ 30 $ 14,037 $ 256 Less than 12 months 12 months or Total (at December 31, 2016, 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 $ 1,124 $ 5 $ — $ — $ 1,124 $ 5 Obligations of states, municipalities and political subdivisions 9,781 352 12 — 9,793 352 Debt securities issued by foreign governments 360 3 — — 360 3 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 528 5 43 1 571 6 All other corporate bonds 6,470 115 437 23 6,907 138 Total fixed maturities 18,263 480 492 24 18,755 504 Equity securities Public common stock 45 2 10 1 55 3 Non-redeemable preferred stock 2 — 59 5 61 5 Total equity securities 47 2 69 6 116 8 Total $ 18,310 $ 482 $ 561 $ 30 $ 18,871 $ 512 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 June 30, 2017 totaled $1 million, Impairment Charges Impairment charges included in net realized investment gains in the consolidated statement of income were $5 million and $4 million for the three months ended June 30, 2017 and 2016, respectively, and $7 million and $22 million for the six months ended June 30, 2017 and 2016, respectively. The cumulative amount of credit losses on fixed maturities held at June 30, 2017 and 2016, that were recognized in the consolidated statement of income from other-than-temporary impairments (OTTI) and for which a portion of the OTTI was recognized in other comprehensive income (loss) in the consolidated balance sheet was $83 million and $88 million, respectively. These credit losses represent less than 1% of the fixed maturity portfolio on a pre-tax basis and less than 1% of shareholders’ equity on an after-tax basis at both dates. There were no significant changes in the credit component of OTTI during the six months ended June 30, 2017 and 2016 from that disclosed in note 3 of notes to the consolidated financial statements in the Company’s 2016 Annual Report as updated by the Company’s Current Report on Form 8-K filed on June 20, 2017. 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 both June 30, 2017 and December 31, 2016, the Company had $400 million notional value of open U.S. Treasury futures contracts. Net realized investment losses related to U.S. Treasury futures contracts for the three months and six months ended June 30, 2017 and 2016 were not significant.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016. 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 $108 million and $99 million at June 30, 2017 and December 31, 2016, 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 $97 million and $85 million at June 30, 2017 and December 31, 2016, 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. An investment transferred between levels during a period is transferred at its fair value as of the beginning of that period. (at June 30, 2017, 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 $ 2,028 $ 2,028 $ — $ — Obligations of states, municipalities and political subdivisions 32,114 — 32,109 5 Debt securities issued by foreign governments 1,556 — 1,556 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,767 — 1,735 32 All other corporate bonds 24,347 2 24,177 168 Redeemable preferred stock 95 3 92 — Total fixed maturities 61,907 2,033 59,669 205 Equity securities Public common stock 567 567 — — Non-redeemable preferred stock 133 61 72 — Total equity securities 700 628 72 — Other investments 54 18 — 36 Total $ 62,661 $ 2,679 $ 59,741 $ 241 (at December 31, 2016, 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 $ 2,035 $ 2,035 $ — $ — Obligations of states, municipalities and political subdivisions 31,910 — 31,898 12 Debt securities issued by foreign governments 1,662 — 1,662 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,708 — 1,704 4 All other corporate bonds 23,107 — 22,939 168 Redeemable preferred stock 93 3 90 — Total fixed maturities 60,515 2,038 58,293 184 Equity securities Public common stock 603 603 — — Non-redeemable preferred stock 129 51 78 — Total equity securities 732 654 78 — Other investments 53 17 — 36 Total $ 61,300 $ 2,709 $ 58,371 $ 220 During the six months ended June 30, 2017 and the year ended December 31, 2016, 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 six months ended June 30, 2017 or the year ended December 31, 2016. Financial Instruments Disclosed, But Not Carried, At Fair Value The following tables present the carrying value and fair value of the Company’s financial assets and financial liabilities disclosed, but not carried, at fair value, and (at June 30, 2017, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets: Short-term securities $ 5,292 $ 5,292 $ 1,134 $ 4,124 $ 34 Financial liabilities: Debt $ 6,920 $ 8,023 $ — $ 8,023 $ — (at December 31, 2016, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets: Short-term securities $ 4,865 $ 4,865 $ 1,223 $ 3,607 $ 35 Financial liabilities: Debt $ 6,337 $ 7,262 $ — $ 7,262 $ — Commercial paper $ 100 $ 100 $ — $ 100 $ — The Company utilized a pricing service to estimate fair value for approximately 95% and 98% of short-term securities at June 30, 2017 and December 31, 2016, respectively. 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 2016 Annual Report as updated by the Company’s Current Report on Form 8-K filed on June 20, 2017. The Company utilized a pricing service to estimate fair value for 100% of its debt at June 30, 2017 and December 31, 2016. The Company had no material assets or liabilities that were measured at fair value on a non-recurring basis during the six months ended June 30, 2017 or year ended December 31, 2016.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2017
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. Each reportable segment includes goodwill associated with the Company’s international business which is subject to the impact of changes in foreign currency exchange rates. (in millions) June 30, December 31, Business Insurance $ 2,229 $ 2,227 Bond & Specialty Insurance 550 549 Personal Insurance 784 778 Other 26 26 Total $ 3,589 $ 3,580 Other Intangible Assets The following tables present a summary of the Company’s other intangible assets by major asset class: (at June 30, 2017, in millions) Gross Accumulated Net Subject to amortization (1) $ 210 $ 163 $ 47 Not subject to amortization 217 — 217 Total $ 427 $ 163 $ 264 (at December 31, 2016, in millions) Gross Accumulated Net Subject to amortization (1) $ 210 $ 159 $ 51 Not subject to amortization 217 — 217 Total $ 427 $ 159 $ 268 (1) Amortization expense of intangible assets was $2 million for each of the three months ended June 30, 2017 and 2016, and $5 million for each of the six months ended June 30, 2017 and 2016. Intangible asset amortization expense is estimated to be $4 million for the remainder of 2017, $8 million in 2018, $7 million in 2019, $5 million in 2020 and $5 million in 2021.

Insurance Claim Reserves

Insurance Claim Reserves	6 Months Ended
	Jun. 30, 2017
Insurance Claim Reserves disclosure
Insurance Claim Reserves disclosure [Text Block]	6. INSURANCE CLAIM RESERVES Claims and claim adjustment expense reserves were as follows: (in millions) June 30, December 31, Property-casualty $ 48,556 $ 47,929 Accident and health 18 20 Total $ 48,574 $ 47,949 The following table presents a reconciliation of beginning and ending property casualty reserve balances for claims and claim adjustment expenses for the six months ended June 30, 2017 and 2016: (for the six months ended June 30, in millions) 2017 2016 Claims and claim adjustment expense reserves at beginning of year $ 47,929 $ 48,272 Less reinsurance recoverables on unpaid losses 7,981 8,449 Net reserves at beginning of year 39,948 39,823 Estimated claims and claim adjustment expenses for claims arising in the current year 8,493 7,859 Estimated increase (decrease) in claims and claim adjustment expenses for claims arising in prior years (214 ) (418 ) Total increases 8,279 7,441 Claims and claim adjustment expense payments for claims arising in: Current year 2,699 2,454 Prior years 4,966 5,004 Total payments 7,665 7,458 Unrealized foreign exchange loss 117 36 Net reserves at end of period 40,679 39,842 Plus reinsurance recoverables on unpaid losses 7,877 8,089 Claims and claim adjustment expense reserves at end of period $ 48,556 $ 47,931 Gross claims and claim adjustment expense reserves at June 30, 2017 increased by $627 million from December 31, 2016, Reinsurance recoverables on unpaid losses at June 30, 2017 decreased by $104 million from December 31, 2016, primarily reflecting the impact of cash collections in the first six months of 2017, including the settlement of certain disputes as discussed in more detail in note 13. Prior Year Reserve Development The following disclosures regarding reserve development are on a “net of reinsurance” basis. For the six months ended June 30, 2017 and 2016, estimated claims and claim adjustment expenses incurred included $214 million and $418 million, respectively, of net favorable development for claims arising in prior years, including $284 million and $468 million, respectively, of net favorable prior year reserve development impacting the Company’s results of operations and $25 million of accretion of discount in each period. Business Insurance. Net favorable prior year reserve development in the first six months of 2017 totaled $186 million, primarily driven by better than expected loss experience in the segment’s domestic operations in (i) the workers’ compensation product line for multiple accident years, (ii) the general liability product line (excluding the increase to environmental reserves) for both primary and excess coverages for multiple accident years and (iii) the commercial multi-peril product line for liability coverages for multiple accident years, partially offset by (iv) net unfavorable prior year reserve development in the segment’s international operations in Europe due to the U.K. Ministry of Justice’s “Ogden” discount rate adjustment applied to lump sum bodily injury payouts. Net favorable development in the first six months of 2016 totaled $199 million, primarily driven by better than expected loss experience in the segment’s domestic operations in (i) the workers’ compensation product line for accident years 2006 and prior as well as accident year 2015, (ii) the general liability product line (excluding the increase to environmental reserves), related to both primary and excess coverages for accident years 2011, 2013 and 2015 and (iii) the commercial automobile product line for accident years 2010 and prior, as well as in the segment’s international operations in Bond & Specialty Insurance. Personal Insurance.

Other Comprehensive Income and

Other Comprehensive Income and Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2017
Other Comprehensive Income and Accumulated Other Comprehensive Income disclosure
Other Comprehensive Income and Accumulated Other Comprehensive Income disclosure [Text Block]	7. 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 six months ended June 30, 2017. Changes in Net Unrealized Gains on Net Benefit Plan (in millions, net of taxes) Having No Credit Having Credit Losses Assets and Net Unrealized Total Accumulated Balance, December 31, 2016 $ 528 $ 202 $ (703 ) $ (782 ) $ (755 ) Other comprehensive income (OCI) before reclassifications 365 1 — 83 449 Amounts reclassified from AOCI (61 ) — 23 — (38 ) Net OCI, current period 304 1 23 83 411 Balance, June 30, 2017 $ 832 $ 203 $ (680 ) $ (699 ) $ (344 ) The following table presents the pre-tax components of the Company’s other comprehensive income and the related income tax expense. Three Months Ended Six Months Ended (in millions) 2017 2016 2017 2016 Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income $ 327 $ 879 $ 471 $ 1,593 Income tax expense 116 305 167 552 Net of taxes 211 574 304 1,041 Having credit losses recognized in the consolidated statement of income 2 12 2 17 Income tax expense 1 4 1 6 Net of taxes 1 8 1 11 Net changes in benefit plan assets and obligations 17 18 34 34 Income tax expense 6 6 11 11 Net of taxes 11 12 23 23 Net changes in unrealized foreign currency translation 48 (35 ) 89 68 Income tax expense — 8 6 21 Net of taxes 48 (43 ) 83 47 Total other comprehensive income 394 874 596 1,712 Total income tax expense 123 323 185 590 Total other comprehensive income, net of taxes $ 271 $ 551 $ 411 $ 1,122 The following table presents the pre-tax and related income tax (expense) benefit components of the amounts reclassified from the Company’s AOCI to the Company’s consolidated statement of income. Three Months Ended Six Months Ended (in millions) 2017 2016 2017 2016 Reclassification adjustments related to unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (1) $ (84 ) $ (24 ) $ (94 ) $ (35 ) Income tax expense (2) (30 ) (8 ) (33 ) (12 ) Net of taxes (54 ) (16 ) (61 ) (23 ) Having credit losses recognized in the consolidated statement of income (1) — 1 — 12 Income tax benefit (2) — — — 4 Net of taxes — 1 — 8 Reclassification adjustment related to benefit plan assets and obligations: Claims and claim adjustment expenses (3) 7 6 14 12 General and administrative expenses (3) 11 9 21 19 Total 18 15 35 31 Income tax benefit (2) 7 6 12 11 Net of taxes 11 9 23 20 Reclassification adjustment related to foreign currency translation (1) — — — — Income tax benefit (2) — — — — Net of taxes — — — — Total reclassifications (66 ) (8 ) (59 ) 8 Total income tax (expense) benefit (23 ) (2 ) (21 ) 3 Total reclassifications, net of taxes $ (43 ) $ (6 ) $ (38 ) $ 5 (1) (2) (3)

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt disclosure
Debt disclosure [Text Block]	8. DEBT Debt Issuance Debt Redemption. Commercial Paper.

Common Share Repurchases

Common Share Repurchases	6 Months Ended
	Jun. 30, 2017
Common Share Repurchases disclosure
Common Share Repurchases disclosure [Text Block]	9. COMMON SHARE REPURCHASES During the three months and six months ended June 30, 2017, the Company repurchased 3.8 million and 5.7 million shares, respectively, under its share repurchase authorization, for a total cost of $475 million and $700 million, respectively. The average cost per share repurchased was $123.04 and $122.33, respectively. In addition, On April 20, 2017, the Company’s Board of Directors approved a share repurchase authorization that added an additional $5.0 billion of repurchase capacity. At June 30, 2017, the Company had $5.23 billion of capacity remaining under its share repurchase authorization.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2017
Earnings per Share disclosure
Earnings per Share disclosure [Text Block]	10. 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 Six Months Ended (in millions, except per share amounts) 2017 2016 2017 2016 Basic and Diluted Net income, as reported $ 595 $ 664 $ 1,212 $ 1,355 Participating share-based awards — allocated income (5 ) (5 ) (9 ) (10 ) Net income available to common shareholders — basic and diluted $ 590 $ 659 $ 1,203 $ 1,345 Common Shares Basic Weighted average shares outstanding 277.5 290.1 278.6 292.1 Diluted Weighted average shares outstanding 277.5 290.1 278.6 292.1 Weighted average effects of dilutive securities — stock options and performance shares 2.5 3.5 2.6 3.5 Total 280.0 293.6 281.2 295.6 Net Income per Common Share Basic $ 2.13 $ 2.27 $ 4.32 $ 4.60 Diluted $ 2.11 $ 2.24 $ 4.28 $ 4.55

Share-Based Incentive Compensat

Share-Based Incentive Compensation	6 Months Ended
	Jun. 30, 2017
Share-Based Incentive Compensation disclosure
Share-Based Incentive Compensation disclosure [Text Block]	11. SHARE-BASED INCENTIVE COMPENSATION The following information relates to fully vested stock option awards at June 30, 2017: Stock Options Number Weighted Weighted Aggregate Vested at end of period (1) 5,999,122 $ 87.63 6.4 years $ 233 Exercisable at end of period 3,276,192 $ 69.02 4.6 years $ 188 (1) Represents awards for which the requisite service has been rendered, including those that are retirement eligible. The total compensation cost for all share-based incentive compensation awards recognized in earnings was $31 million and $32 million for the three months ended June 30, 2017 and 2016, respectively, and $73 million and $82 million for the six months ended June 30, 2017 and 2016, respectively. The related tax benefits recognized in the consolidated statement of income were $10 million and $11 million for the three months ended June 30, 2017 and 2016, respectively, and $24 million and $28 million for the six months ended June 30, 2017 and 2016, respectively. The total unrecognized compensation cost related to all nonvested share-based incentive compensation awards at June 30, 2017 was $186 million, which is expected to be recognized over a weighted-average period of 2.0 years.

Pension Plans, Retirement Benef

Pension Plans, Retirement Benefits and Savings Plans	6 Months Ended
	Jun. 30, 2017
Pension Plans, Retirement Benefits and Savings Plans disclosure
Pension Plans, Retirement Benefits and Savings Plans disclosure [Text Block]	12. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS The following table summarizes 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 June 30, 2017 and 2016. Pension Plans Postretirement Benefit Plans (for the three months ended June 30, in millions) 2017 2016 2017 2016 Net Periodic Benefit Cost: Service cost $ 30 $ 30 $ — $ — Non-service cost: Interest cost on benefit obligation 30 31 1 2 Expected return on plan assets (60 ) (58 ) — — Settlement — 1 — — Amortization of unrecognized: Prior service benefit — — (1 ) (1 ) Net actuarial loss 19 16 — — Total non-service cost (11 ) (10 ) — 1 Net periodic benefit cost $ 19 $ 20 $ — $ 1 The following table indicates the line items in which the respective service costs and non-service benefit costs are presented in the consolidated statement of income for the three months ended June 30, 2017 and 2016. Pension Plans Postretirement Benefit Plans (for the three months ended June 30, in millions) 2017 2016 2017 2016 Service Cost: Claims and claim adjustment expenses $ 12 $ 12 $ — $ — General and administrative expenses 18 18 — — Total service cost 30 30 — — Non-Service Cost: Claims and claim adjustment expenses (5 ) (5 ) — 1 General and administrative expenses (6 ) (5 ) — — Total non-service cost (11 ) (10 ) — 1 Net periodic benefit cost $ 19 $ 20 $ — $ 1 The following table summarizes 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 six months ended June 30, 2017 and 2016. Pension Plans Postretirement Benefit Plans (for the six months ended June 30, in millions) 2017 2016 2017 2016 Net Periodic Benefit Cost: Service cost $ 60 $ 59 $ — $ — Non-service cost: Interest cost on benefit obligation 61 61 3 4 Expected return on plan assets (120 ) (115 ) — — Settlement — 1 — — Amortization of unrecognized: Prior service benefit — — (2 ) (2 ) Net actuarial loss 37 33 — — Total non-service cost (22 ) (20 ) 1 2 Net periodic benefit cost $ 38 $ 39 $ 1 $ 2 The following table indicates the line items in which the respective service costs and non-service benefit costs are presented in the consolidated statement of income for the six months ended June 30, 2017 and 2016. Pension Plans Postretirement Benefit Plans (for the six months ended June 30, in millions) 2017 2016 2017 2016 Service Cost: Claims and claim adjustment expenses $ 24 $ 24 $ — $ — General and administrative expenses 36 35 — — Total service cost 60 59 — — Non-Service Cost: Claims and claim adjustment expenses (9 ) (9 ) — 1 General and administrative expenses (13 ) (11 ) 1 1 Total non-service cost (22 ) (20 ) 1 2 Net periodic benefit cost $ 38 $ 39 $ 1 $ 2

Contingencies, Commitments and

Contingencies, Commitments and Guarantees	6 Months Ended
	Jun. 30, 2017
Contingencies, Commitments and Guarantees disclosure
Contingencies, Commitments and Guarantees disclosure [Text Block]	13. 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 insurance 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. 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. On November 7, 2016, the Company agreed to a settlement with one of the three defendants then remaining in this dispute. The Company received payment under the settlement in the fourth quarter of 2016 and, as a result, recognized a $126 million pre-tax ($82 million after-tax) gain in the fourth quarter, which was included in “other revenues” in the consolidated statement of income for the year ended December 31, 2016. In connection with that settlement, the reinsurance recoverable balance related to this case was reduced from approximately $238 million to approximately $31 million in the Company’s consolidated balance sheet. At March 31, 2017, the claim related to the remaining defendants totaled $71 million, comprising the $31 million of reinsurance recoverable plus interest amounting to $40 million as of that date. The interest was treated for accounting purposes as a gain contingency in accordance with FASB Topic 450, Contingencies On May 1, 2017, the Company agreed to a settlement of this dispute with the two remaining defendants, along with the settlement of several other disputes with these same parties. As a result of the settlement of all of these matters, the Company recorded an immaterial gain in “other revenues” in its consolidated statement of income for the three months ended June 30, 2017, and the reinsurance recoverable of $31 million in the Company’s balance sheet was fully satisfied. 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 $358 million at June 30, 2017, 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 $45 million at June 30, 2017, approximately $23 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 June 30, 2017, 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 2016 Annual Report as updated by the Company’s Form 8-K filed on June 20, 2017.

Consolidating Financial Stateme

Consolidating Financial Statements (Unaudited)	6 Months Ended
	Jun. 30, 2017
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]	14. 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 June 30, 2017. 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 June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 4,345 $ 2,006 $ — $ — $ 6,351 Net investment income 401 191 6 — 598 Fee income 116 — — — 116 Net realized investment gains (losses) (1) (4 ) 25 59 — 80 Other revenues 30 12 — (3 ) 39 Total revenues 4,888 2,234 65 (3 ) 7,184 Claims and expenses Claims and claim adjustment expenses 2,851 1,374 — — 4,225 Amortization of deferred acquisition costs 693 339 — — 1,032 General and administrative expenses 737 305 6 (3 ) 1,045 Interest expense 12 — 80 — 92 Total claims and expenses 4,293 2,018 86 (3 ) 6,394 Income (loss) before income taxes 595 216 (21 ) — 790 Income tax expense (benefit) 157 54 (16 ) — 195 Net income of subsidiaries — — 600 (600 ) — Net income $ 438 $ 162 $ 595 $ (600 ) $ 595 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (2 ) $ (3 ) $ — $ — $ (5 ) OTTI losses recognized in net realized investment gains (losses) $ (2 ) $ (3 ) $ — $ — $ (5 ) OTTI losses recognized in OCI $ — $ — $ — $ — $ — CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the three months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 4,161 $ 1,906 $ — $ — $ 6,067 Net investment income 377 168 4 — 549 Fee income 119 — — — 119 Net realized investment gains (losses) (1) (1 ) 20 — — 19 Other revenues 33 1 — (3 ) 31 Total revenues 4,689 2,095 4 (3 ) 6,785 Claims and expenses Claims and claim adjustment expenses 2,575 1,187 — — 3,762 Amortization of deferred acquisition costs 666 323 — — 989 General and administrative expenses 743 313 1 (3 ) 1,054 Interest expense 12 — 81 — 93 Total claims and expenses 3,996 1,823 82 (3 ) 5,898 Income (loss) before income taxes 693 272 (78 ) — 887 Income tax expense (benefit) 191 69 (37 ) — 223 Net income of subsidiaries — — 705 (705 ) — Net income $ 502 $ 203 $ 664 $ (705 ) $ 664 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (3 ) $ (1 ) $ — $ — $ (4 ) OTTI losses recognized in net realized investment gains (losses) $ (3 ) $ (1 ) $ — $ — $ (4 ) OTTI gains (losses) recognized in OCI $ — $ — $ — $ — $ — CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the six months ended June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 8,573 $ 3,961 $ — $ — $ 12,534 Net investment income 813 385 10 — 1,208 Fee income 229 — — — 229 Net realized investment gains (losses) (1) (8 ) 34 59 — 85 Other revenues 54 21 — (5 ) 70 Total revenues 9,661 4,401 69 (5 ) 14,126 Claims and expenses Claims and claim adjustment expenses 5,603 2,716 — — 8,319 Amortization of deferred acquisition costs 1,361 674 — — 2,035 General and administrative expenses 1,440 597 9 (5 ) 2,041 Interest expense 24 — 157 — 181 Total claims and expenses 8,428 3,987 166 (5 ) 12,576 Income (loss) before income taxes 1,233 414 (97 ) — 1,550 Income tax expense (benefit) 287 108 (57 ) — 338 Net income of subsidiaries — — 1,252 (1,252 ) — Net income $ 946 $ 306 $ 1,212 $ (1,252 ) $ 1,212 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (2 ) $ (4 ) $ — $ — $ (6 ) OTTI losses recognized in net realized investment gains (losses) $ (3 ) $ (4 ) $ — $ — $ (7 ) OTTI gains recognized in OCI $ 1 $ — $ — $ — $ 1 CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the six months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 8,246 $ 3,802 $ — $ — $ 12,048 Net investment income 753 334 6 — 1,093 Fee income 236 — — — 236 Net realized investment gains (losses) (1) (17 ) 27 — — 10 Other revenues 81 17 — (14 ) 84 Total revenues 9,299 4,180 6 (14 ) 13,471 Claims and expenses Claims and claim adjustment expenses 5,095 2,379 — — 7,474 Amortization of deferred acquisition costs 1,316 644 — — 1,960 General and administrative expenses 1,447 611 5 (14 ) 2,049 Interest expense 24 — 160 — 184 Total claims and expenses 7,882 3,634 165 (14 ) 11,667 Income (loss) before income taxes 1,417 546 (159 ) — 1,804 Income tax expense (benefit) 390 138 (79 ) — 449 Net income of subsidiaries — — 1,435 (1,435 ) — Net income $ 1,027 $ 408 $ 1,355 $ (1,435 ) $ 1,355 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (17 ) $ (15 ) $ — $ — $ (32 ) OTTI losses recognized in net realized investment gains (losses) $ (12 ) $ (10 ) $ — $ — $ (22 ) OTTI losses recognized in OCI $ (5 ) $ (5 ) $ — $ — $ (10 ) CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the three months ended June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 438 $ 162 $ 595 $ (600 ) $ 595 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 296 85 (54 ) — 327 Having credit losses recognized in the consolidated statement of income 1 1 — — 2 Net changes in benefit plan assets and obligations — (1 ) 18 — 17 Net changes in unrealized foreign currency translation 14 34 — — 48 Other comprehensive income (loss) before income taxes and other comprehensive income of subsidiaries 311 119 (36 ) — 394 Income tax expense (benefit) 102 33 (12 ) — 123 Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries 209 86 (24 ) — 271 Other comprehensive income of subsidiaries — — 295 (295 ) — Other comprehensive income 209 86 271 (295 ) 271 Comprehensive income $ 647 $ 248 $ 866 $ (895 ) $ 866 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the three months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 502 $ 203 $ 664 $ (705 ) $ 664 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 570 306 3 — 879 Having credit losses recognized in the consolidated statement of income 6 6 — — 12 Net changes in benefit plan assets and obligations 18 19 (19 ) — 18 Net changes in unrealized foreign currency translation 25 (60 ) — — (35 ) Other comprehensive income (loss) before income taxes and other comprehensive income of subsidiaries 619 271 (16 ) — 874 Income tax expense (benefit) 216 113 (6 ) — 323 Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries 403 158 (10 ) — 551 Other comprehensive income of subsidiaries — — 561 (561 ) — Other comprehensive income 403 158 551 (561 ) 551 Comprehensive income $ 905 $ 361 $ 1,215 $ (1,266 ) $ 1,215 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the six months ended June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 946 $ 306 $ 1,212 $ (1,252 ) $ 1,212 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 389 129 (47 ) — 471 Having credit losses recognized in the consolidated statement of income 2 — — — 2 Net changes in benefit plan assets and obligations — (1 ) 35 — 34 Net changes in unrealized foreign currency translation 39 50 — — 89 Other comprehensive income (loss) before income taxes and other comprehensive income of subsidiaries 430 178 (12 ) — 596 Income tax expense (benefit) 139 49 (3 ) — 185 Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries 291 129 (9 ) — 411 Other comprehensive income of subsidiaries — — 420 (420 ) — Other comprehensive income 291 129 411 (420 ) 411 Comprehensive income $ 1,237 $ 435 $ 1,623 $ (1,672 ) $ 1,623 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the six months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 1,027 $ 408 $ 1,355 $ (1,435 ) $ 1,355 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 1,055 534 4 — 1,593 Having credit losses recognized in the consolidated statement of income 8 9 — — 17 Net changes in benefit plan assets and obligations 18 20 (4 ) — 34 Net changes in unrealized foreign currency translation 119 (51 ) — — 68 Other comprehensive income before income taxes and other comprehensive income of subsidiaries 1,200 512 — — 1,712 Income tax expense 397 192 1 — 590 Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries 803 320 (1 ) — 1,122 Other comprehensive income of subsidiaries — — 1,123 (1,123 ) — Other comprehensive income 803 320 1,122 (1,123 ) 1,122 Comprehensive income $ 1,830 $ 728 $ 2,477 $ (2,558 ) $ 2,477 CONSOLIDATING BALANCE SHEET (Unaudited) At June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Assets Fixed maturities, available for sale, at fair value (amortized cost $60,482) $ 43,029 $ 18,829 $ 49 $ — $ 61,907 Equity securities, available for sale, at fair value (cost $558) 176 357 167 — 700 Real estate investments 55 865 — — 920 Short-term securities 2,065 715 2,512 — 5,292 Other investments 2,612 899 1 — 3,512 Total investments 47,937 21,665 2,729 — 72,331 Cash 134 192 2 — 328 Investment income accrued 422 176 4 — 602 Premiums receivable 4,952 2,393 — — 7,345 Reinsurance recoverables 5,594 2,556 — — 8,150 Ceded unearned premiums 587 78 — — 665 Deferred acquisition costs 1,847 204 — — 2,051 Deferred taxes (43 ) 188 56 — 201 Contractholder receivables 3,759 941 — — 4,700 Goodwill 2,586 1,003 — — 3,589 Other intangible assets 202 62 — — 264 Investment in subsidiaries — — 27,451 (27,451 ) — Other assets 2,122 283 38 — 2,443 Total assets $ 70,099 $ 29,741 $ 30,280 $ (27,451 ) $ 102,669 Liabilities Claims and claim adjustment expense reserves $ 32,564 $ 16,010 $ — $ — $ 48,574 Unearned premium reserves 9,043 4,009 — — 13,052 Contractholder payables 3,759 941 — — 4,700 Payables for reinsurance premiums 214 150 — — 364 Debt 693 — 6,227 — 6,920 Other liabilities 3,956 1,040 205 — 5,201 Total liabilities 50,229 22,150 6,432 — 78,811 Shareholders’ equity Common stock (1,750.0 shares authorized; 275.9 shares issued and outstanding) — 390 22,781 (390 ) 22,781 Additional paid-in capital 11,634 6,499 — (18,133 ) — Retained earnings 7,917 706 33,006 (8,613 ) 33,016 Accumulated other comprehensive income (loss) 319 (4 ) (344 ) (315 ) (344 ) Treasury stock, at cost (495.7 shares) — — (31,595 ) — (31,595 ) Total shareholders’ equity 19,870 7,591 23,848 (27,451 ) 23,858 Total liabilities and shareholders’ equity $ 70,099 $ 29,741 $ 30,280 $ (27,451 ) $ 102,669 CONSOLIDATING BALANCE SHEET (Unaudited) At December 31, 2016 (in millions) TPC Other TRV Eliminations Consolidated Assets Fixed maturities, available for sale, at fair value (amortized cost $59,650) $ 42,014 $ 18,452 $ 49 $ — $ 60,515 Equity securities, available for sale, at fair value (cost $504) 169 408 155 — 732 Real estate investments 56 872 — — 928 Short-term securities 2,447 791 1,627 — 4,865 Other investments 2,569 878 1 — 3,448 Total investments 47,255 21,401 1,832 — 70,488 Cash 141 164 2 — 307 Investment income accrued 441 183 6 — 630 Premiums receivable 4,545 2,177 — — 6,722 Reinsurance recoverables 5,664 2,623 — — 8,287 Ceded unearned premiums 536 53 — — 589 Deferred acquisition costs 1,741 182 — — 1,923 Deferred taxes 216 224 25 — 465 Contractholder receivables 3,656 953 — — 4,609 Goodwill 2,578 1,002 — — 3,580 Other intangible assets 202 66 — — 268 Investment in subsidiaries — — 27,137 (27,137 ) — Other assets 1,973 370 34 — 2,377 Total assets $ 68,948 $ 29,398 $ 29,036 $ (27,137 ) $ 100,245 Liabilities Claims and claim adjustment expense reserves $ 32,168 $ 15,781 $ — $ — $ 47,949 Unearned premium reserves 8,575 3,754 — — 12,329 Contractholder payables 3,656 953 — — 4,609 Payables for reinsurance premiums 156 117 — — 273 Debt 693 — 5,744 — 6,437 Other liabilities 4,106 1,239 82 — 5,427 Total liabilities 49,354 21,844 5,826 — 77,024 Shareholders’ equity Common stock (1,750.0 shares authorized; 279.6 shares issued and outstanding) — 390 22,614 (390 ) 22,614 Additional paid-in capital 11,634 6,499 — (18,133 ) — Retained earnings 7,933 797 32,185 (8,719 ) 32,196 Accumulated other comprehensive income (loss) 27 (132 ) (755 ) 105 (755 ) Treasury stock, at cost (489.5 shares) — — (30,834 ) — (30,834 ) Total shareholders’ equity 19,594 7,554 23,210 (27,137 ) 23,221 Total liabilities and shareholders’ equity $ 68,948 $ 29,398 $ 29,036 $ (27,137 ) $ 100,245 CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the six months ended June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Cash flows from operating activities Net income $ 946 $ 306 $ 1,212 $ (1,252 ) $ 1,212 Net adjustments to reconcile net income to net cash provided by operating activities 224 31 223 (105 ) 373 Net cash provided by operating activities 1,170 337 1,435 (1,357 ) 1,585 Cash flows from investing activities Proceeds from maturities of fixed maturities 3,211 1,087 2 — 4,300 Proceeds from sales of investments: Fixed maturities 285 278 — — 563 Equity securities 4 75 121 — 200 Real estate investments — 20 — — 20 Other investments 294 109 — — 403 Purchases of investments: Fixed maturities (4,160 ) (1,511 ) (2 ) — (5,673 ) Equity securities (3 ) (41 ) (122 ) — (166 ) Real estate investments — (26 ) — — (26 ) Other investments (202 ) (57 ) — — (259 ) Net sales (purchases) of short-term securities 383 78 (885 ) — (424 ) Securities transactions in course of settlement 105 64 1 — 170 Other (135 ) 6 — — (129 ) Net cash provided by (used in) investing activities (218 ) 82 (885 ) — (1,021 ) Cash flows from financing activities Treasury stock acquired — share repurchase authorization — — (700 ) — (700 ) Treasury stock acquired — net employee share-based compensation — — (61 ) — (61 ) Dividends paid to shareholders — — (389 ) — (389 ) Payment of debt — — (207 ) — (207 ) Issuance of debt — — 689 — 689 Issuance of common stock — employee share options — — 118 — 118 Dividends paid to parent company (961 ) (396 ) — 1,357 — Net cash used in financing activities (961 ) (396 ) (550 ) 1,357 (550 ) Effect of exchange rate changes on cash 2 5 — — 7 Net increase (decrease) in cash (7 ) 28 — — 21 Cash at beginning of year 141 164 2 — 307 Cash at end of period $ 134 $ 192 $ 2 $ — $ 328 Supplemental disclosure of cash flow information Income taxes paid (received) $ 336 $ 119 $ (132 ) $ — $ 323 Interest paid $ 24 $ — $ 154 $ — $ 178 CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the six months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Cash flows from operating activities Net income $ 1,027 $ 408 $ 1,355 $ (1,435 ) $ 1,355 Net adjustments to reconcile net income to net cash provided by (used in) operating activities (17 ) (222 ) 116 61 (62 ) Net cash provided by operating activities 1,010 186 1,471 (1,374 ) 1,293 Cash flows from investing activities Proceeds from maturities of fixed maturities 2,728 1,040 5 — 3,773 Proceeds from sales of investments: Fixed maturities 385 352 2 — 739 Equity securities 10 28 — — 38 Real estate investments — 69 — — 69 Other investments 233 110 — — 343 Purchases of investments: Fixed maturities (3,588 ) (2,108 ) (9 ) — (5,705 ) Equity securities (5 ) (19 ) (2 ) — (26 ) Real estate investments — (20 ) — — (20 ) Other investments (221 ) (69 ) — — (290 ) Net (purchases) sales of short-term securities 193 639 (151 ) — 681 Securities transactions in course of settlement 325 137 (1 ) — 461 Other (151 ) (3 ) — — (154 ) Net cash provided by (used in) investing activities (91 ) 156 (156 ) — (91 ) Cash flows from financing activities Treasury stock acquired — share repurchase authorization — — (1,100 ) — (1,100 ) Treasury stock acquired — net employee share-based compensation — — (59 ) — (59 ) Dividends paid to shareholders — — (375 ) — (375 ) Payment of debt — — (400 ) — (400 ) Issuance of debt — — 491 — 491 Issuance of common stock — employee share options — — 129 — 129 Dividends paid to parent company (1,025 ) (349 ) — 1,374 — Net cash used in financing activities (1,025 ) (349 ) (1,314 ) 1,374 (1,314 ) Effect of exchange rate changes on cash 2 (5 ) — — (3 ) Net increase (decrease) in cash (104 ) (12 ) 1 — (115 ) Cash at beginning of year 225 153 2 — 380 Cash at end of period $ 121 $ 141 $ 3 $ — $ 265 Supplemental disclosure of cash flow information Income taxes paid (received) $ 398 $ 142 $ (73 ) $ — $ 467 Interest paid $ 24 $ — $ 156 $ — $ 180

Basis of Presentation and Acc23

Basis of Presentation and Accounting Policies (policies)	6 Months Ended
	Jun. 30, 2017
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, 2016 (the Company’s 2016 Annual Report) as updated by the Company’s Current Report on Form 8-K filed on June 20, 2017. The Form 8-K was filed to reclassify certain of the Company’s historical segment information to conform the presentation of such segment information to the manner in which the Company’s businesses have been managed beginning April 1, 2017 (as described in more detail below) and reflect the revised names and descriptions of certain businesses comprising these segments and other related changes. 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. On March 13, 2017, the Company announced an agreement to acquire Simply Business, a leading digital provider of insurance policies to small businesses in the United Kingdom, for total consideration of approximately $490 million, which includes the repayment of debt and other obligations at the completion of the transaction. The transaction is expected to close in the third quarter of 2017, subject to regulatory approvals and other customary closing conditions. The Company will use a portion of the net proceeds from the issuance of senior notes in May 2017 (described in more detail in note 8) and internal resources to fund this transaction.
Accounting Policies, Adoption of Accounting Standards [Policy Text Block]	Adoption of Accounting Standards Investments — Equity Method and Joint Ventures: Simplifying the Transition to the Equity Method of Accounting In March 2016, the Financial Accounting Standards Board (FASB) issued updated guidance that eliminates the requirement to retroactively apply the equity method of accounting when an investment that was previously accounted for using another method of accounting becomes qualified to apply the equity method due to an increase in the level of ownership interest or degree of influence. If the investment was previously accounted for as an available-for-sale security, any related unrealized gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for the equity method is recognized through earnings. The updated guidance was effective for reporting periods beginning after December 15, 2016, and was applied prospectively. The adoption of this guidance did not have a material effect on the Company’s results of operations, financial position or liquidity. Derivatives and Hedging: Contingent Put and Call Options in Debt Instruments In March 2016, the FASB issued updated guidance clarifying that when a call (put) option in a debt instrument can accelerate the repayment of principal on the debt instrument, a reporting entity does not need to assess whether the contingent event that triggers the ability to exercise the call (put) option is related to interest rates or credit risk in determining whether the option should be accounted for separately. The updated guidance was effective for reporting periods beginning after December 15, 2016. The adoption of this guidance did not have a material effect on the Company’s results of operations, financial position or liquidity. Compensation — Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, the FASB issued updated guidance to improve the presentation of net periodic pension cost and net periodic post retirement cost (net benefit costs). Net benefit costs comprise several components that reflect different aspects of an employer’s financial arrangements as well as the cost of benefits provided to employees. The update requires that the employer service cost component be reported in the same lines as other employee compensation cost and that the other components (non-service costs) be presented separately from the service cost and outside of a subtotal of income from operations if one is presented. The update also allows only the service cost component to be eligible for capitalization in assets when applicable. The updated guidance is effective for reporting periods beginning after December 15, 2017. The update is to be applied retrospectively with respect to the presentation of service cost and non-service cost and prospectively with respect to applying the service cost only eligible for capitalization in assets guidance. Early adoption is permitted as of the first interim period of an annual period if an entity issues interim financial statements. The Company adopted the updated guidance effective January 1, 2017. See note 12 which has been expanded to disclose the amount of service cost and non-service cost components of net periodic benefit cost and the line items in the consolidated statement of income in which such amounts are reported. The updated guidance with respect to only service costs being eligible for capitalization in assets was not applicable. For information regarding accounting standards that the Company adopted during the years presented, see the “Adoption of Accounting Standards ” Compensation — Stock Compensation: Scope of Modification Accounting In May 2017, the FASB issued updated guidance related to a change to the terms or conditions (modification) of a share-based payment award. The updated guidance provides that an entity should account for the effects of a modification unless the fair value and vesting conditions of the modified award and the classification of the modified award (equity or liability instrument) are the same as the original award immediately before the modification. The updated guidance is effective for the quarter ending March 31, 2018. The update is to be applied prospectively to an award modified on or after the adoption date. Early adoption is permitted in any interim periods for which financial statements have not yet been made available for issuance. The Company adopted the updated guidance effective April 1, 2017. The adoption did not have an effect on the Company’s results of operations, financial position or liquidity.

Segment Information (tables)

Segment Information (tables)	6 Months Ended
	Jun. 30, 2017
Segment Information disclosure
Company's revenues and income by segment [Table Text Block]	(for the three months Business Bond & Specialty Personal Total 2017 Premiums $ 3,504 $ 575 $ 2,272 $ 6,351 Net investment income 447 56 95 598 Fee income 112 — 4 116 Other revenues 15 6 15 36 Total segment revenues (1) $ 4,078 $ 637 $ 2,386 $ 7,101 Segment income (1) $ 429 $ 163 $ 12 $ 604 2016 Premiums $ 3,439 $ 559 $ 2,069 $ 6,067 Net investment income 404 58 87 549 Fee income 115 — 4 119 Other revenues 8 5 15 28 Total segment revenues (1) $ 3,966 $ 622 $ 2,175 $ 6,763 Segment income (1) $ 401 $ 215 $ 95 $ 711 (1) (for the six months Business Bond & Specialty Personal Total 2017 Premiums $ 6,933 $ 1,130 $ 4,471 $ 12,534 Net investment income 900 117 191 1,208 Fee income 221 — 8 229 Other revenues 24 11 31 66 Total segment revenues (1) $ 8,078 $ 1,258 $ 4,701 $ 14,037 Segment income (1) $ 871 $ 308 $ 101 $ 1,280 2016 Premiums $ 6,853 $ 1,111 $ 4,084 $ 12,048 Net investment income 803 118 172 1,093 Fee income 229 — 7 236 Other revenues 38 9 31 78 Total segment revenues (1) $ 7,923 $ 1,238 $ 4,294 $ 13,455 Segment income (1) $ 848 $ 375 $ 247 $ 1,470 (1)
Business segment reconciliations of revenue and income, net of tax [Table Text Block]	Three Months Ended Six Months Ended (in millions) 2017 2016 2017 2016 Revenue reconciliation Earned premiums Business Insurance: Domestic: Workers’ compensation $ 999 $ 987 $ 1,975 $ 1,968 Commercial automobile 521 503 1,027 994 Commercial property 443 442 878 879 General liability 498 485 989 967 Commercial multi-peril 797 786 1,571 1,568 Other 7 9 14 14 Total Domestic 3,265 3,212 6,454 6,390 International 239 227 479 463 Total Business Insurance 3,504 3,439 6,933 6,853 Bond & Specialty Insurance: Domestic: Fidelity and surety 245 239 479 469 General liability 239 235 474 469 Other 46 44 91 88 Total Domestic 530 518 1,044 1,026 International 45 41 86 85 Total Bond & Specialty Insurance 575 559 1,130 1,111 Personal Insurance: Domestic: Automobile 1,145 974 2,239 1,910 Homeowners and Other 977 944 1,932 1,882 Total Domestic 2,122 1,918 4,171 3,792 International 150 151 300 292 Total Personal Insurance 2,272 2,069 4,471 4,084 Total earned premiums 6,351 6,067 12,534 12,048 Net investment income 598 549 1,208 1,093 Fee income 116 119 229 236 Other revenues 36 28 66 78 Total segment revenues 7,101 6,763 14,037 13,455 Other revenues 3 3 4 6 Net realized investment gains 80 19 85 10 Total revenues $ 7,184 $ 6,785 $ 14,126 $ 13,471 Income reconciliation, net of tax Total segment income $ 604 $ 711 $ 1,280 $ 1,470 Interest Expense and Other (1) (61 ) (62 ) (123 ) (123 ) Core income 543 649 1,157 1,347 Net realized investment gains 52 15 55 8 Net income $ 595 $ 664 $ 1,212 $ 1,355 (1)
Asset reconciliation [Table Text Block]	(in millions) June 30, December 31, Asset reconciliation Business Insurance $ 77,653 $ 75,730 Bond & Specialty Insurance 8,998 8,726 Personal Insurance 15,666 15,426 Total segment assets 102,317 99,882 Other assets (1) 352 363 Total consolidated assets $ 102,669 $ 100,245 (1)

Investments (tables)

Investments (tables)	6 Months Ended
	Jun. 30, 2017
Investments disclosure
Amortized cost and fair value of investments in fixed maturities [Table Text Block]	Amortized Gross Unrealized Fair (at June 30, 2017, in millions) Cost Gains Losses Value U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,023 $ 10 $ 5 $ 2,028 Obligations of states, municipalities and political subdivisions: Local general obligation 14,010 410 79 14,341 Revenue 11,589 317 63 11,843 State general obligation 1,612 45 11 1,646 Pre-refunded 4,112 172 — 4,284 Total obligations of states, municipalities and political subdivisions 31,323 944 153 32,114 Debt securities issued by foreign governments 1,537 24 5 1,556 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,675 97 5 1,767 All other corporate bonds 23,835 589 77 24,347 Redeemable preferred stock 89 6 — 95 Total $ 60,482 $ 1,670 $ 245 $ 61,907 Amortized Gross Unrealized Fair (at December 31, 2016, in millions) Cost Gains Losses Value U.S. Treasury securities and obligations of U.S. government and government agencies and authorities $ 2,031 $ 9 $ 5 $ 2,035 Obligations of states, municipalities and political subdivisions: Local general obligation 13,955 271 182 14,044 Revenue 10,910 215 147 10,978 State general obligation 1,717 36 22 1,731 Pre-refunded 4,968 190 1 5,157 Total obligations of states, municipalities and political subdivisions 31,550 712 352 31,910 Debt securities issued by foreign governments 1,631 34 3 1,662 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,614 100 6 1,708 All other corporate bonds 22,737 508 138 23,107 Redeemable preferred stock 87 6 — 93 Total $ 59,650 $ 1,369 $ 504 $ 60,515
Cost and fair value of investments in equity securities [Table Text Block]	Gross Unrealized Fair (at June 30, 2017, in millions) Cost Gains Losses Value Public common stock $ 443 $ 130 $ 6 $ 567 Non-redeemable preferred stock 115 23 5 133 Total $ 558 $ 153 $ 11 $ 700 Gross Unrealized Fair (at December 31, 2016, in millions) Cost Gains Losses Value Public common stock $ 390 $ 216 $ 3 $ 603 Non-redeemable preferred stock 114 20 5 129 Total $ 504 $ 236 $ 8 $ 732
Unrealized investment losses [Table Text Block]	Less than 12 months 12 months or longer Total (at June 30, 2017, 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 $ 1,342 $ 5 $ 5 $ — $ 1,347 $ 5 Obligations of states, municipalities and political subdivisions 6,088 142 179 11 6,267 153 Debt securities issued by foreign governments 432 5 — — 432 5 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 470 5 37 — 507 5 All other corporate bonds 4,980 66 279 11 5,259 77 Total fixed maturities 13,312 223 500 22 13,812 245 Equity securities Public common stock 150 3 14 3 164 6 Non-redeemable preferred stock — — 61 5 61 5 Total equity securities 150 3 75 8 225 11 Total $ 13,462 $ 226 $ 575 $ 30 $ 14,037 $ 256 Less than 12 months 12 months or Total (at December 31, 2016, 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 $ 1,124 $ 5 $ — $ — $ 1,124 $ 5 Obligations of states, municipalities and political subdivisions 9,781 352 12 — 9,793 352 Debt securities issued by foreign governments 360 3 — — 360 3 Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 528 5 43 1 571 6 All other corporate bonds 6,470 115 437 23 6,907 138 Total fixed maturities 18,263 480 492 24 18,755 504 Equity securities Public common stock 45 2 10 1 55 3 Non-redeemable preferred stock 2 — 59 5 61 5 Total equity securities 47 2 69 6 116 8 Total $ 18,310 $ 482 $ 561 $ 30 $ 18,871 $ 512

Fair Value Measurements (tables

Fair Value Measurements (tables)	6 Months Ended
	Jun. 30, 2017
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 on a recurring basis [Table Text Block]	(at June 30, 2017, 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 $ 2,028 $ 2,028 $ — $ — Obligations of states, municipalities and political subdivisions 32,114 — 32,109 5 Debt securities issued by foreign governments 1,556 — 1,556 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,767 — 1,735 32 All other corporate bonds 24,347 2 24,177 168 Redeemable preferred stock 95 3 92 — Total fixed maturities 61,907 2,033 59,669 205 Equity securities Public common stock 567 567 — — Non-redeemable preferred stock 133 61 72 — Total equity securities 700 628 72 — Other investments 54 18 — 36 Total $ 62,661 $ 2,679 $ 59,741 $ 241 (at December 31, 2016, 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 $ 2,035 $ 2,035 $ — $ — Obligations of states, municipalities and political subdivisions 31,910 — 31,898 12 Debt securities issued by foreign governments 1,662 — 1,662 — Mortgage-backed securities, collateralized mortgage obligations and pass-through securities 1,708 — 1,704 4 All other corporate bonds 23,107 — 22,939 168 Redeemable preferred stock 93 3 90 — Total fixed maturities 60,515 2,038 58,293 184 Equity securities Public common stock 603 603 — — Non-redeemable preferred stock 129 51 78 — Total equity securities 732 654 78 — Other investments 53 17 — 36 Total $ 61,300 $ 2,709 $ 58,371 $ 220
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 June 30, 2017, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets: Short-term securities $ 5,292 $ 5,292 $ 1,134 $ 4,124 $ 34 Financial liabilities: Debt $ 6,920 $ 8,023 $ — $ 8,023 $ — (at December 31, 2016, in millions) Carrying Fair Level 1 Level 2 Level 3 Financial assets: Short-term securities $ 4,865 $ 4,865 $ 1,223 $ 3,607 $ 35 Financial liabilities: Debt $ 6,337 $ 7,262 $ — $ 7,262 $ — Commercial paper $ 100 $ 100 $ — $ 100 $ —

Goodwill and Other Intangible27

Goodwill and Other Intangible Assets (tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Other Intangible Assets disclosure
Goodwill by segment [Table Text Block]	(in millions) June 30, December 31, Business Insurance $ 2,229 $ 2,227 Bond & Specialty Insurance 550 549 Personal Insurance 784 778 Other 26 26 Total $ 3,589 $ 3,580
Other intangible assets subject to amortization [Table Text Block]	(at June 30, 2017, in millions) Gross Accumulated Net Subject to amortization (1) $ 210 $ 163 $ 47 Not subject to amortization 217 — 217 Total $ 427 $ 163 $ 264 (at December 31, 2016, in millions) Gross Accumulated Net Subject to amortization (1) $ 210 $ 159 $ 51 Not subject to amortization 217 — 217 Total $ 427 $ 159 $ 268 (1)
Other intangible assets not subject to amortization [Table Text Block]	(at June 30, 2017, in millions) Gross Accumulated Net Subject to amortization (1) $ 210 $ 163 $ 47 Not subject to amortization 217 — 217 Total $ 427 $ 163 $ 264 (at December 31, 2016, in millions) Gross Accumulated Net Subject to amortization (1) $ 210 $ 159 $ 51 Not subject to amortization 217 — 217 Total $ 427 $ 159 $ 268 (1)

Insurance Claim Reserves (table

Insurance Claim Reserves (tables)	6 Months Ended
	Jun. 30, 2017
Insurance Claim Reserves disclosure
Claims and claim adjustment expense reserves [Table Text Block]	(in millions) June 30, December 31, Property-casualty $ 48,556 $ 47,929 Accident and health 18 20 Total $ 48,574 $ 47,949
Reconciliation of beginning and ending property casualty reserve balances for claims and claim adjustment expenses [Table Text Block]	(for the six months ended June 30, in millions) 2017 2016 Claims and claim adjustment expense reserves at beginning of year $ 47,929 $ 48,272 Less reinsurance recoverables on unpaid losses 7,981 8,449 Net reserves at beginning of year 39,948 39,823 Estimated claims and claim adjustment expenses for claims arising in the current year 8,493 7,859 Estimated increase (decrease) in claims and claim adjustment expenses for claims arising in prior years (214 ) (418 ) Total increases 8,279 7,441 Claims and claim adjustment expense payments for claims arising in: Current year 2,699 2,454 Prior years 4,966 5,004 Total payments 7,665 7,458 Unrealized foreign exchange loss 117 36 Net reserves at end of period 40,679 39,842 Plus reinsurance recoverables on unpaid losses 7,877 8,089 Claims and claim adjustment expense reserves at end of period $ 48,556 $ 47,931

Other Comprehensive Income an29

Other Comprehensive Income and Accumulated Other Comprehensive Income (tables)	6 Months Ended
	Jun. 30, 2017
Other Comprehensive Income and Accumulated Other Comprehensive Income disclosure
Changes in accumulated other comprehensive income (AOCI) [Table Text Block]	Changes in Net Unrealized Gains on Net Benefit Plan (in millions, net of taxes) Having No Credit Having Credit Losses Assets and Net Unrealized Total Accumulated Balance, December 31, 2016 $ 528 $ 202 $ (703 ) $ (782 ) $ (755 ) Other comprehensive income (OCI) before reclassifications 365 1 — 83 449 Amounts reclassified from AOCI (61 ) — 23 — (38 ) Net OCI, current period 304 1 23 83 411 Balance, June 30, 2017 $ 832 $ 203 $ (680 ) $ (699 ) $ (344 )
Pre-tax components of other comprehensive income and the related income tax expense for each component [Table Text Block]	Three Months Ended Six Months Ended (in millions) 2017 2016 2017 2016 Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income $ 327 $ 879 $ 471 $ 1,593 Income tax expense 116 305 167 552 Net of taxes 211 574 304 1,041 Having credit losses recognized in the consolidated statement of income 2 12 2 17 Income tax expense 1 4 1 6 Net of taxes 1 8 1 11 Net changes in benefit plan assets and obligations 17 18 34 34 Income tax expense 6 6 11 11 Net of taxes 11 12 23 23 Net changes in unrealized foreign currency translation 48 (35 ) 89 68 Income tax expense — 8 6 21 Net of taxes 48 (43 ) 83 47 Total other comprehensive income 394 874 596 1,712 Total income tax expense 123 323 185 590 Total other comprehensive income, net of taxes $ 271 $ 551 $ 411 $ 1,122
Pre-tax and related income tax (expense) benefit components of the amounts reclassified from accumulated other comprehensive income to the consolidated statement of income [Table Text Block]	Three Months Ended Six Months Ended (in millions) 2017 2016 2017 2016 Reclassification adjustments related to unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income (1) $ (84 ) $ (24 ) $ (94 ) $ (35 ) Income tax expense (2) (30 ) (8 ) (33 ) (12 ) Net of taxes (54 ) (16 ) (61 ) (23 ) Having credit losses recognized in the consolidated statement of income (1) — 1 — 12 Income tax benefit (2) — — — 4 Net of taxes — 1 — 8 Reclassification adjustment related to benefit plan assets and obligations: Claims and claim adjustment expenses (3) 7 6 14 12 General and administrative expenses (3) 11 9 21 19 Total 18 15 35 31 Income tax benefit (2) 7 6 12 11 Net of taxes 11 9 23 20 Reclassification adjustment related to foreign currency translation (1) — — — — Income tax benefit (2) — — — — Net of taxes — — — — Total reclassifications (66 ) (8 ) (59 ) 8 Total income tax (expense) benefit (23 ) (2 ) (21 ) 3 Total reclassifications, net of taxes $ (43 ) $ (6 ) $ (38 ) $ 5 (1) (2) (3)

Earnings per Share (table)

Earnings per Share (table)	6 Months Ended
	Jun. 30, 2017
Earnings per Share disclosure
Earnings per share reconciliation [Table Text Block]	Three Months Ended Six Months Ended (in millions, except per share amounts) 2017 2016 2017 2016 Basic and Diluted Net income, as reported $ 595 $ 664 $ 1,212 $ 1,355 Participating share-based awards — allocated income (5 ) (5 ) (9 ) (10 ) Net income available to common shareholders — basic and diluted $ 590 $ 659 $ 1,203 $ 1,345 Common Shares Basic Weighted average shares outstanding 277.5 290.1 278.6 292.1 Diluted Weighted average shares outstanding 277.5 290.1 278.6 292.1 Weighted average effects of dilutive securities — stock options and performance shares 2.5 3.5 2.6 3.5 Total 280.0 293.6 281.2 295.6 Net Income per Common Share Basic $ 2.13 $ 2.27 $ 4.32 $ 4.60 Diluted $ 2.11 $ 2.24 $ 4.28 $ 4.55

Share-Based Incentive Compens31

Share-Based Incentive Compensation (table)	6 Months Ended
	Jun. 30, 2017
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) 5,999,122 $ 87.63 6.4 years $ 233 Exercisable at end of period 3,276,192 $ 69.02 4.6 years $ 188 (1) Represents awards for which the requisite service has been rendered, including those that are retirement eligible.

Pension Plans, Retirement Ben32

Pension Plans, Retirement Benefits and Savings Plans (tables)	6 Months Ended
	Jun. 30, 2017
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]	Pension Plans Postretirement Benefit Plans (for the three months ended June 30, in millions) 2017 2016 2017 2016 Net Periodic Benefit Cost: Service cost $ 30 $ 30 $ — $ — Non-service cost: Interest cost on benefit obligation 30 31 1 2 Expected return on plan assets (60 ) (58 ) — — Settlement — 1 — — Amortization of unrecognized: Prior service benefit — — (1 ) (1 ) Net actuarial loss 19 16 — — Total non-service cost (11 ) (10 ) — 1 Net periodic benefit cost $ 19 $ 20 $ — $ 1 Pension Plans Postretirement Benefit Plans (for the six months ended June 30, in millions) 2017 2016 2017 2016 Net Periodic Benefit Cost: Service cost $ 60 $ 59 $ — $ — Non-service cost: Interest cost on benefit obligation 61 61 3 4 Expected return on plan assets (120 ) (115 ) — — Settlement — 1 — — Amortization of unrecognized: Prior service benefit — — (2 ) (2 ) Net actuarial loss 37 33 — — Total non-service cost (22 ) (20 ) 1 2 Net periodic benefit cost $ 38 $ 39 $ 1 $ 2
Consolidated statement of income line items impacted by service costs and non-service benefit costs [Table Text Block]	Pension Plans Postretirement Benefit Plans (for the three months ended June 30, in millions) 2017 2016 2017 2016 Service Cost: Claims and claim adjustment expenses $ 12 $ 12 $ — $ — General and administrative expenses 18 18 — — Total service cost 30 30 — — Non-Service Cost: Claims and claim adjustment expenses (5 ) (5 ) — 1 General and administrative expenses (6 ) (5 ) — — Total non-service cost (11 ) (10 ) — 1 Net periodic benefit cost $ 19 $ 20 $ — $ 1 Pension Plans Postretirement Benefit Plans (for the six months ended June 30, in millions) 2017 2016 2017 2016 Service Cost: Claims and claim adjustment expenses $ 24 $ 24 $ — $ — General and administrative expenses 36 35 — — Total service cost 60 59 — — Non-Service Cost: Claims and claim adjustment expenses (9 ) (9 ) — 1 General and administrative expenses (13 ) (11 ) 1 1 Total non-service cost (22 ) (20 ) 1 2 Net periodic benefit cost $ 38 $ 39 $ 1 $ 2

Consolidating Financial State33

Consolidating Financial Statements (Unaudited) (tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 4,345 $ 2,006 $ — $ — $ 6,351 Net investment income 401 191 6 — 598 Fee income 116 — — — 116 Net realized investment gains (losses) (1) (4 ) 25 59 — 80 Other revenues 30 12 — (3 ) 39 Total revenues 4,888 2,234 65 (3 ) 7,184 Claims and expenses Claims and claim adjustment expenses 2,851 1,374 — — 4,225 Amortization of deferred acquisition costs 693 339 — — 1,032 General and administrative expenses 737 305 6 (3 ) 1,045 Interest expense 12 — 80 — 92 Total claims and expenses 4,293 2,018 86 (3 ) 6,394 Income (loss) before income taxes 595 216 (21 ) — 790 Income tax expense (benefit) 157 54 (16 ) — 195 Net income of subsidiaries — — 600 (600 ) — Net income $ 438 $ 162 $ 595 $ (600 ) $ 595 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (2 ) $ (3 ) $ — $ — $ (5 ) OTTI losses recognized in net realized investment gains (losses) $ (2 ) $ (3 ) $ — $ — $ (5 ) OTTI losses recognized in OCI $ — $ — $ — $ — $ — CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the three months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 4,161 $ 1,906 $ — $ — $ 6,067 Net investment income 377 168 4 — 549 Fee income 119 — — — 119 Net realized investment gains (losses) (1) (1 ) 20 — — 19 Other revenues 33 1 — (3 ) 31 Total revenues 4,689 2,095 4 (3 ) 6,785 Claims and expenses Claims and claim adjustment expenses 2,575 1,187 — — 3,762 Amortization of deferred acquisition costs 666 323 — — 989 General and administrative expenses 743 313 1 (3 ) 1,054 Interest expense 12 — 81 — 93 Total claims and expenses 3,996 1,823 82 (3 ) 5,898 Income (loss) before income taxes 693 272 (78 ) — 887 Income tax expense (benefit) 191 69 (37 ) — 223 Net income of subsidiaries — — 705 (705 ) — Net income $ 502 $ 203 $ 664 $ (705 ) $ 664 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (3 ) $ (1 ) $ — $ — $ (4 ) OTTI losses recognized in net realized investment gains (losses) $ (3 ) $ (1 ) $ — $ — $ (4 ) OTTI gains (losses) recognized in OCI $ — $ — $ — $ — $ — CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the six months ended June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 8,573 $ 3,961 $ — $ — $ 12,534 Net investment income 813 385 10 — 1,208 Fee income 229 — — — 229 Net realized investment gains (losses) (1) (8 ) 34 59 — 85 Other revenues 54 21 — (5 ) 70 Total revenues 9,661 4,401 69 (5 ) 14,126 Claims and expenses Claims and claim adjustment expenses 5,603 2,716 — — 8,319 Amortization of deferred acquisition costs 1,361 674 — — 2,035 General and administrative expenses 1,440 597 9 (5 ) 2,041 Interest expense 24 — 157 — 181 Total claims and expenses 8,428 3,987 166 (5 ) 12,576 Income (loss) before income taxes 1,233 414 (97 ) — 1,550 Income tax expense (benefit) 287 108 (57 ) — 338 Net income of subsidiaries — — 1,252 (1,252 ) — Net income $ 946 $ 306 $ 1,212 $ (1,252 ) $ 1,212 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (2 ) $ (4 ) $ — $ — $ (6 ) OTTI losses recognized in net realized investment gains (losses) $ (3 ) $ (4 ) $ — $ — $ (7 ) OTTI gains recognized in OCI $ 1 $ — $ — $ — $ 1 CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the six months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Revenues Premiums $ 8,246 $ 3,802 $ — $ — $ 12,048 Net investment income 753 334 6 — 1,093 Fee income 236 — — — 236 Net realized investment gains (losses) (1) (17 ) 27 — — 10 Other revenues 81 17 — (14 ) 84 Total revenues 9,299 4,180 6 (14 ) 13,471 Claims and expenses Claims and claim adjustment expenses 5,095 2,379 — — 7,474 Amortization of deferred acquisition costs 1,316 644 — — 1,960 General and administrative expenses 1,447 611 5 (14 ) 2,049 Interest expense 24 — 160 — 184 Total claims and expenses 7,882 3,634 165 (14 ) 11,667 Income (loss) before income taxes 1,417 546 (159 ) — 1,804 Income tax expense (benefit) 390 138 (79 ) — 449 Net income of subsidiaries — — 1,435 (1,435 ) — Net income $ 1,027 $ 408 $ 1,355 $ (1,435 ) $ 1,355 (1) (in millions) TPC Other TRV Eliminations Consolidated Total OTTI losses $ (17 ) $ (15 ) $ — $ — $ (32 ) OTTI losses recognized in net realized investment gains (losses) $ (12 ) $ (10 ) $ — $ — $ (22 ) OTTI losses recognized in OCI $ (5 ) $ (5 ) $ — $ — $ (10 )
Consolidating Statement of Comprehensive Income (Unaudited) [Table Text Block]	CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the three months ended June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 438 $ 162 $ 595 $ (600 ) $ 595 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 296 85 (54 ) — 327 Having credit losses recognized in the consolidated statement of income 1 1 — — 2 Net changes in benefit plan assets and obligations — (1 ) 18 — 17 Net changes in unrealized foreign currency translation 14 34 — — 48 Other comprehensive income (loss) before income taxes and other comprehensive income of subsidiaries 311 119 (36 ) — 394 Income tax expense (benefit) 102 33 (12 ) — 123 Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries 209 86 (24 ) — 271 Other comprehensive income of subsidiaries — — 295 (295 ) — Other comprehensive income 209 86 271 (295 ) 271 Comprehensive income $ 647 $ 248 $ 866 $ (895 ) $ 866 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the three months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 502 $ 203 $ 664 $ (705 ) $ 664 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 570 306 3 — 879 Having credit losses recognized in the consolidated statement of income 6 6 — — 12 Net changes in benefit plan assets and obligations 18 19 (19 ) — 18 Net changes in unrealized foreign currency translation 25 (60 ) — — (35 ) Other comprehensive income (loss) before income taxes and other comprehensive income of subsidiaries 619 271 (16 ) — 874 Income tax expense (benefit) 216 113 (6 ) — 323 Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries 403 158 (10 ) — 551 Other comprehensive income of subsidiaries — — 561 (561 ) — Other comprehensive income 403 158 551 (561 ) 551 Comprehensive income $ 905 $ 361 $ 1,215 $ (1,266 ) $ 1,215 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the six months ended June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 946 $ 306 $ 1,212 $ (1,252 ) $ 1,212 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 389 129 (47 ) — 471 Having credit losses recognized in the consolidated statement of income 2 — — — 2 Net changes in benefit plan assets and obligations — (1 ) 35 — 34 Net changes in unrealized foreign currency translation 39 50 — — 89 Other comprehensive income (loss) before income taxes and other comprehensive income of subsidiaries 430 178 (12 ) — 596 Income tax expense (benefit) 139 49 (3 ) — 185 Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries 291 129 (9 ) — 411 Other comprehensive income of subsidiaries — — 420 (420 ) — Other comprehensive income 291 129 411 (420 ) 411 Comprehensive income $ 1,237 $ 435 $ 1,623 $ (1,672 ) $ 1,623 CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the six months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Net income $ 1,027 $ 408 $ 1,355 $ (1,435 ) $ 1,355 Other comprehensive income (loss): Changes in net unrealized gains on investment securities: Having no credit losses recognized in the consolidated statement of income 1,055 534 4 — 1,593 Having credit losses recognized in the consolidated statement of income 8 9 — — 17 Net changes in benefit plan assets and obligations 18 20 (4 ) — 34 Net changes in unrealized foreign currency translation 119 (51 ) — — 68 Other comprehensive income before income taxes and other comprehensive income of subsidiaries 1,200 512 — — 1,712 Income tax expense 397 192 1 — 590 Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries 803 320 (1 ) — 1,122 Other comprehensive income of subsidiaries — — 1,123 (1,123 ) — Other comprehensive income 803 320 1,122 (1,123 ) 1,122 Comprehensive income $ 1,830 $ 728 $ 2,477 $ (2,558 ) $ 2,477
Consolidating Balance Sheet (Unaudited) [Table Text Block]	CONSOLIDATING BALANCE SHEET (Unaudited) At June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Assets Fixed maturities, available for sale, at fair value (amortized cost $60,482) $ 43,029 $ 18,829 $ 49 $ — $ 61,907 Equity securities, available for sale, at fair value (cost $558) 176 357 167 — 700 Real estate investments 55 865 — — 920 Short-term securities 2,065 715 2,512 — 5,292 Other investments 2,612 899 1 — 3,512 Total investments 47,937 21,665 2,729 — 72,331 Cash 134 192 2 — 328 Investment income accrued 422 176 4 — 602 Premiums receivable 4,952 2,393 — — 7,345 Reinsurance recoverables 5,594 2,556 — — 8,150 Ceded unearned premiums 587 78 — — 665 Deferred acquisition costs 1,847 204 — — 2,051 Deferred taxes (43 ) 188 56 — 201 Contractholder receivables 3,759 941 — — 4,700 Goodwill 2,586 1,003 — — 3,589 Other intangible assets 202 62 — — 264 Investment in subsidiaries — — 27,451 (27,451 ) — Other assets 2,122 283 38 — 2,443 Total assets $ 70,099 $ 29,741 $ 30,280 $ (27,451 ) $ 102,669 Liabilities Claims and claim adjustment expense reserves $ 32,564 $ 16,010 $ — $ — $ 48,574 Unearned premium reserves 9,043 4,009 — — 13,052 Contractholder payables 3,759 941 — — 4,700 Payables for reinsurance premiums 214 150 — — 364 Debt 693 — 6,227 — 6,920 Other liabilities 3,956 1,040 205 — 5,201 Total liabilities 50,229 22,150 6,432 — 78,811 Shareholders’ equity Common stock (1,750.0 shares authorized; 275.9 shares issued and outstanding) — 390 22,781 (390 ) 22,781 Additional paid-in capital 11,634 6,499 — (18,133 ) — Retained earnings 7,917 706 33,006 (8,613 ) 33,016 Accumulated other comprehensive income (loss) 319 (4 ) (344 ) (315 ) (344 ) Treasury stock, at cost (495.7 shares) — — (31,595 ) — (31,595 ) Total shareholders’ equity 19,870 7,591 23,848 (27,451 ) 23,858 Total liabilities and shareholders’ equity $ 70,099 $ 29,741 $ 30,280 $ (27,451 ) $ 102,669 CONSOLIDATING BALANCE SHEET (Unaudited) At December 31, 2016 (in millions) TPC Other TRV Eliminations Consolidated Assets Fixed maturities, available for sale, at fair value (amortized cost $59,650) $ 42,014 $ 18,452 $ 49 $ — $ 60,515 Equity securities, available for sale, at fair value (cost $504) 169 408 155 — 732 Real estate investments 56 872 — — 928 Short-term securities 2,447 791 1,627 — 4,865 Other investments 2,569 878 1 — 3,448 Total investments 47,255 21,401 1,832 — 70,488 Cash 141 164 2 — 307 Investment income accrued 441 183 6 — 630 Premiums receivable 4,545 2,177 — — 6,722 Reinsurance recoverables 5,664 2,623 — — 8,287 Ceded unearned premiums 536 53 — — 589 Deferred acquisition costs 1,741 182 — — 1,923 Deferred taxes 216 224 25 — 465 Contractholder receivables 3,656 953 — — 4,609 Goodwill 2,578 1,002 — — 3,580 Other intangible assets 202 66 — — 268 Investment in subsidiaries — — 27,137 (27,137 ) — Other assets 1,973 370 34 — 2,377 Total assets $ 68,948 $ 29,398 $ 29,036 $ (27,137 ) $ 100,245 Liabilities Claims and claim adjustment expense reserves $ 32,168 $ 15,781 $ — $ — $ 47,949 Unearned premium reserves 8,575 3,754 — — 12,329 Contractholder payables 3,656 953 — — 4,609 Payables for reinsurance premiums 156 117 — — 273 Debt 693 — 5,744 — 6,437 Other liabilities 4,106 1,239 82 — 5,427 Total liabilities 49,354 21,844 5,826 — 77,024 Shareholders’ equity Common stock (1,750.0 shares authorized; 279.6 shares issued and outstanding) — 390 22,614 (390 ) 22,614 Additional paid-in capital 11,634 6,499 — (18,133 ) — Retained earnings 7,933 797 32,185 (8,719 ) 32,196 Accumulated other comprehensive income (loss) 27 (132 ) (755 ) 105 (755 ) Treasury stock, at cost (489.5 shares) — — (30,834 ) — (30,834 ) Total shareholders’ equity 19,594 7,554 23,210 (27,137 ) 23,221 Total liabilities and shareholders’ equity $ 68,948 $ 29,398 $ 29,036 $ (27,137 ) $ 100,245
Consolidating Statement of Cash Flows (Unaudited) [Table Text Block]	CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the six months ended June 30, 2017 (in millions) TPC Other TRV Eliminations Consolidated Cash flows from operating activities Net income $ 946 $ 306 $ 1,212 $ (1,252 ) $ 1,212 Net adjustments to reconcile net income to net cash provided by operating activities 224 31 223 (105 ) 373 Net cash provided by operating activities 1,170 337 1,435 (1,357 ) 1,585 Cash flows from investing activities Proceeds from maturities of fixed maturities 3,211 1,087 2 — 4,300 Proceeds from sales of investments: Fixed maturities 285 278 — — 563 Equity securities 4 75 121 — 200 Real estate investments — 20 — — 20 Other investments 294 109 — — 403 Purchases of investments: Fixed maturities (4,160 ) (1,511 ) (2 ) — (5,673 ) Equity securities (3 ) (41 ) (122 ) — (166 ) Real estate investments — (26 ) — — (26 ) Other investments (202 ) (57 ) — — (259 ) Net sales (purchases) of short-term securities 383 78 (885 ) — (424 ) Securities transactions in course of settlement 105 64 1 — 170 Other (135 ) 6 — — (129 ) Net cash provided by (used in) investing activities (218 ) 82 (885 ) — (1,021 ) Cash flows from financing activities Treasury stock acquired — share repurchase authorization — — (700 ) — (700 ) Treasury stock acquired — net employee share-based compensation — — (61 ) — (61 ) Dividends paid to shareholders — — (389 ) — (389 ) Payment of debt — — (207 ) — (207 ) Issuance of debt — — 689 — 689 Issuance of common stock — employee share options — — 118 — 118 Dividends paid to parent company (961 ) (396 ) — 1,357 — Net cash used in financing activities (961 ) (396 ) (550 ) 1,357 (550 ) Effect of exchange rate changes on cash 2 5 — — 7 Net increase (decrease) in cash (7 ) 28 — — 21 Cash at beginning of year 141 164 2 — 307 Cash at end of period $ 134 $ 192 $ 2 $ — $ 328 Supplemental disclosure of cash flow information Income taxes paid (received) $ 336 $ 119 $ (132 ) $ — $ 323 Interest paid $ 24 $ — $ 154 $ — $ 178 CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the six months ended June 30, 2016 (in millions) TPC Other TRV Eliminations Consolidated Cash flows from operating activities Net income $ 1,027 $ 408 $ 1,355 $ (1,435 ) $ 1,355 Net adjustments to reconcile net income to net cash provided by (used in) operating activities (17 ) (222 ) 116 61 (62 ) Net cash provided by operating activities 1,010 186 1,471 (1,374 ) 1,293 Cash flows from investing activities Proceeds from maturities of fixed maturities 2,728 1,040 5 — 3,773 Proceeds from sales of investments: Fixed maturities 385 352 2 — 739 Equity securities 10 28 — — 38 Real estate investments — 69 — — 69 Other investments 233 110 — — 343 Purchases of investments: Fixed maturities (3,588 ) (2,108 ) (9 ) — (5,705 ) Equity securities (5 ) (19 ) (2 ) — (26 ) Real estate investments — (20 ) — — (20 ) Other investments (221 ) (69 ) — — (290 ) Net (purchases) sales of short-term securities 193 639 (151 ) — 681 Securities transactions in course of settlement 325 137 (1 ) — 461 Other (151 ) (3 ) — — (154 ) Net cash provided by (used in) investing activities (91 ) 156 (156 ) — (91 ) Cash flows from financing activities Treasury stock acquired — share repurchase authorization — — (1,100 ) — (1,100 ) Treasury stock acquired — net employee share-based compensation — — (59 ) — (59 ) Dividends paid to shareholders — — (375 ) — (375 ) Payment of debt — — (400 ) — (400 ) Issuance of debt — — 491 — 491 Issuance of common stock — employee share options — — 129 — 129 Dividends paid to parent company (1,025 ) (349 ) — 1,374 — Net cash used in financing activities (1,025 ) (349 ) (1,314 ) 1,374 (1,314 ) Effect of exchange rate changes on cash 2 (5 ) — — (3 ) Net increase (decrease) in cash (104 ) (12 ) 1 — (115 ) Cash at beginning of year 225 153 2 — 380 Cash at end of period $ 121 $ 141 $ 3 $ — $ 265 Supplemental disclosure of cash flow information Income taxes paid (received) $ 398 $ 142 $ (73 ) $ — $ 467 Interest paid $ 24 $ — $ 156 $ — $ 180

Basis of Presentation and Acc34

Basis of Presentation and Accounting Policies (details) $ in Millions	Mar. 13, 2017USD ($)
Simply Business [Member]
Business Acquisition
Approximate consideration, including the repayment of debt and other obligations at the completion of the transaction, in announced acquisition expected to close in third quarter 2017	$ 490

Basis of Presentation and Acc35

Basis of Presentation and Accounting Policies (details) - Reportable Segments	6 Months Ended
	Jun. 30, 2017item
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		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment reporting information
Premiums		$ 6,351	$ 6,067	$ 12,534	$ 12,048
Net investment income		598	549	1,208	1,093
Fee income		116	119	229	236
Other revenues		39	31	70	84
Core income (loss)		543	649	1,157	1,347
Net realized investment gains	[1]	80	19	85	10
Total revenues		7,184	6,785	14,126	13,471
Net realized investment gains, net of tax		52	15	55	8
Net income		595	664	1,212	1,355
Reportable Segments [Member]
Segment reporting information
Premiums		6,351	6,067	12,534	12,048
Net investment income		598	549	1,208	1,093
Fee income		116	119	229	236
Other revenues		36	28	66	78
Total segment revenues		7,101	6,763	14,037	13,455
Core income (loss)		604	711	1,280	1,470
Reportable Segments [Member] | Business Insurance [Member]
Segment reporting information
Premiums		3,504	3,439	6,933	6,853
Net investment income		447	404	900	803
Fee income		112	115	221	229
Other revenues		15	8	24	38
Total segment revenues		4,078	3,966	8,078	7,923
Core income (loss)		429	401	871	848
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member]
Segment reporting information
Premiums		3,265	3,212	6,454	6,390
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Workers' compensation [Member]
Segment reporting information
Premiums		999	987	1,975	1,968
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Automobile [Member]
Segment reporting information
Premiums		521	503	1,027	994
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Commercial property [Member]
Segment reporting information
Premiums		443	442	878	879
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | General liability [Member]
Segment reporting information
Premiums		498	485	989	967
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Commercial multi-peril [Member]
Segment reporting information
Premiums		797	786	1,571	1,568
Reportable Segments [Member] | Business Insurance [Member] | Domestic [Member] | Other [Member]
Segment reporting information
Premiums		7	9	14	14
Reportable Segments [Member] | Business Insurance [Member] | International [Member]
Segment reporting information
Premiums		239	227	479	463
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Segment reporting information
Premiums		575	559	1,130	1,111
Net investment income		56	58	117	118
Other revenues		6	5	11	9
Total segment revenues		637	622	1,258	1,238
Core income (loss)		163	215	308	375
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Domestic [Member]
Segment reporting information
Premiums		530	518	1,044	1,026
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Domestic [Member] | General liability [Member]
Segment reporting information
Premiums		239	235	474	469
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Domestic [Member] | Fidelity and surety [Member]
Segment reporting information
Premiums		245	239	479	469
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | Domestic [Member] | Other [Member]
Segment reporting information
Premiums		46	44	91	88
Reportable Segments [Member] | Bond & Specialty Insurance [Member] | International [Member]
Segment reporting information
Premiums		45	41	86	85
Reportable Segments [Member] | Personal Insurance [Member]
Segment reporting information
Premiums		2,272	2,069	4,471	4,084
Net investment income		95	87	191	172
Fee income		4	4	8	7
Other revenues		15	15	31	31
Total segment revenues		2,386	2,175	4,701	4,294
Core income (loss)		12	95	101	247
Reportable Segments [Member] | Personal Insurance [Member] | Domestic [Member]
Segment reporting information
Premiums		2,122	1,918	4,171	3,792
Reportable Segments [Member] | Personal Insurance [Member] | Domestic [Member] | Automobile [Member]
Segment reporting information
Premiums		1,145	974	2,239	1,910
Reportable Segments [Member] | Personal Insurance [Member] | Domestic [Member] | Homeowners and Other [Member]
Segment reporting information
Premiums		977	944	1,932	1,882
Reportable Segments [Member] | Personal Insurance [Member] | International [Member]
Segment reporting information
Premiums		150	151	300	292
Other [Member]
Segment reporting information
Other revenues		3	3	4	6
Core income (loss)		(61)	(62)	(123)	(123)
After-tax interest expense		$ 60	$ 60	$ 118	$ 120
[1]	Total other-than-temporary impairment (OTTI) losses were $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(6) million and $(32) million for the six months ended June 30, 2017 and 2016, respectively. Of total OTTI, credit losses of $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(7) million and $(22) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million for each of the three months ended June 30, 2017 and 2016, and $1 million and $(10) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in other comprehensive income 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	Jun. 30, 2017	Dec. 31, 2016
Assets by segment
Total assets	$ 102,669	$ 100,245
Reportable Segments [Member]
Assets by segment
Total assets	102,317	99,882
Reportable Segments [Member] | Business Insurance [Member]
Assets by segment
Total assets	77,653	75,730
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Assets by segment
Total assets	8,998	8,726
Reportable Segments [Member] | Personal Insurance [Member]
Assets by segment
Total assets	15,666	15,426
Other assets [Member]
Assets by segment
Total assets	$ 352	$ 363

Investments (details)

Investments (details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Investments disclosure
Proceeds from sales of fixed maturities classified as available for sale	$ 563	$ 739
Proceeds from sales of equity securities classified as available for sale	$ 200	$ 38

Investments (details) - Investm

Investments (details) - Investment Information - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Investment disclosure details
Fixed maturities, amortized cost	$ 60,482		$ 60,482		$ 59,650
Gross unrealized gains	1,670		1,670		1,369
Gross unrealized losses	245		245		504
Fixed maturities, at fair value	61,907		61,907		60,515
Equity securities, cost	558		558		504
Gross unrealized gains	153		153		236
Gross unrealized losses	11		11		8
Equity securities, at fair value	700		700		732
Continuous unrealized loss position less than 12 months, fair value	13,462		13,462		18,310
Continuous unrealized loss position less than 12 months, gross unrealized losses	226		226		482
Continuous unrealized loss position 12 months or longer, fair value	575		575		561
Continuous unrealized loss position 12 months or longer, gross unrealized losses	30		30		30
Continuous unrealized loss position, total, fair value	14,037		14,037		18,871
Continuous unrealized loss position, total, gross unrealized losses	256		256		512
Unrealized losses for available-for-sale securities for which fair value is less than 80% of amortized cost, total	$ 1		$ 1
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 pre-tax basis (less than)	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 (less than)	1.00%		1.00%
Impairment charges	$ 5	$ 4	$ 7	$ 22
Fixed maturities [Member]
Investment disclosure details
Gross realized gains			17	46
Gross realized losses			4	8
Continuous unrealized loss position less than 12 months, fair value	13,312		13,312		18,263
Continuous unrealized loss position less than 12 months, gross unrealized losses	223		223		480
Continuous unrealized loss position 12 months or longer, fair value	500		500		492
Continuous unrealized loss position 12 months or longer, gross unrealized losses	22		22		24
Continuous unrealized loss position, total, fair value	13,812		13,812		18,755
Continuous unrealized loss position, total, gross unrealized losses	245		245		504
Cumulative OTTI credit losses recognized for securities held	$ 83	$ 88	$ 83	$ 88
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 (loss) for fixed maturities held, as a percentage of the fixed maturity portfolio on a pre-tax basis (less than)	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 (loss) for fixed maturities held, as a percentage of shareholders' equity on an after-tax basis (less than)	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	$ 2,023		$ 2,023		2,031
Gross unrealized gains	10		10		9
Gross unrealized losses	5		5		5
Fixed maturities, at fair value	2,028		2,028		2,035
Continuous unrealized loss position less than 12 months, fair value	1,342		1,342		1,124
Continuous unrealized loss position less than 12 months, gross unrealized losses	5		5		5
Continuous unrealized loss position 12 months or longer, fair value	5		5
Continuous unrealized loss position, total, fair value	1,347		1,347		1,124
Continuous unrealized loss position, total, gross unrealized losses	5		5		5
Obligations of states, municipalities and political subdivisions [Member]
Investment disclosure details
Fixed maturities, amortized cost	31,323		31,323		31,550
Gross unrealized gains	944		944		712
Gross unrealized losses	153		153		352
Fixed maturities, at fair value	32,114		32,114		31,910
Continuous unrealized loss position less than 12 months, fair value	6,088		6,088		9,781
Continuous unrealized loss position less than 12 months, gross unrealized losses	142		142		352
Continuous unrealized loss position 12 months or longer, fair value	179		179		12
Continuous unrealized loss position 12 months or longer, gross unrealized losses	11		11
Continuous unrealized loss position, total, fair value	6,267		6,267		9,793
Continuous unrealized loss position, total, gross unrealized losses	153		153		352
Obligations of states, municipalities and political subdivisions, local general obligation [Member]
Investment disclosure details
Fixed maturities, amortized cost	14,010		14,010		13,955
Gross unrealized gains	410		410		271
Gross unrealized losses	79		79		182
Fixed maturities, at fair value	14,341		14,341		14,044
Obligations of states, municipalities and political subdivisions, revenue [Member]
Investment disclosure details
Fixed maturities, amortized cost	11,589		11,589		10,910
Gross unrealized gains	317		317		215
Gross unrealized losses	63		63		147
Fixed maturities, at fair value	11,843		11,843		10,978
Obligations of states, municipalities and political subdivisions, state general obligation [Member]
Investment disclosure details
Fixed maturities, amortized cost	1,612		1,612		1,717
Gross unrealized gains	45		45		36
Gross unrealized losses	11		11		22
Fixed maturities, at fair value	1,646		1,646		1,731
Obligations of states, municipalities and political subdivisions, pre-refunded [Member]
Investment disclosure details
Fixed maturities, amortized cost	4,112		4,112		4,968
Gross unrealized gains	172		172		190
Gross unrealized losses					1
Fixed maturities, at fair value	4,284		4,284		5,157
Debt securities issued by foreign governments [Member]
Investment disclosure details
Fixed maturities, amortized cost	1,537		1,537		1,631
Gross unrealized gains	24		24		34
Gross unrealized losses	5		5		3
Fixed maturities, at fair value	1,556		1,556		1,662
Continuous unrealized loss position less than 12 months, fair value	432		432		360
Continuous unrealized loss position less than 12 months, gross unrealized losses	5		5		3
Continuous unrealized loss position, total, fair value	432		432		360
Continuous unrealized loss position, total, gross unrealized losses	5		5		3
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities [Member]
Investment disclosure details
Fixed maturities, amortized cost	1,675		1,675		1,614
Gross unrealized gains	97		97		100
Gross unrealized losses	5		5		6
Fixed maturities, at fair value	1,767		1,767		1,708
Continuous unrealized loss position less than 12 months, fair value	470		470		528
Continuous unrealized loss position less than 12 months, gross unrealized losses	5		5		5
Continuous unrealized loss position 12 months or longer, fair value	37		37		43
Continuous unrealized loss position 12 months or longer, gross unrealized losses					1
Continuous unrealized loss position, total, fair value	507		507		571
Continuous unrealized loss position, total, gross unrealized losses	5		5		6
All other corporate bonds [Member]
Investment disclosure details
Fixed maturities, amortized cost	23,835		23,835		22,737
Gross unrealized gains	589		589		508
Gross unrealized losses	77		77		138
Fixed maturities, at fair value	24,347		24,347		23,107
Continuous unrealized loss position less than 12 months, fair value	4,980		4,980		6,470
Continuous unrealized loss position less than 12 months, gross unrealized losses	66		66		115
Continuous unrealized loss position 12 months or longer, fair value	279		279		437
Continuous unrealized loss position 12 months or longer, gross unrealized losses	11		11		23
Continuous unrealized loss position, total, fair value	5,259		5,259		6,907
Continuous unrealized loss position, total, gross unrealized losses	77		77		138
Redeemable preferred stock [Member]
Investment disclosure details
Fixed maturities, amortized cost	89		89		87
Gross unrealized gains	6		6		6
Fixed maturities, at fair value	95		95		93
Equity securities [Member]
Investment disclosure details
Gross realized gains			88	$ 8
Gross realized losses			1	$ 2
Continuous unrealized loss position less than 12 months, fair value	150		150		47
Continuous unrealized loss position less than 12 months, gross unrealized losses	3		3		2
Continuous unrealized loss position 12 months or longer, fair value	75		75		69
Continuous unrealized loss position 12 months or longer, gross unrealized losses	8		8		6
Continuous unrealized loss position, total, fair value	225		225		116
Continuous unrealized loss position, total, gross unrealized losses	11		11		8
Public common stock [Member]
Investment disclosure details
Equity securities, cost	443		443		390
Gross unrealized gains	130		130		216
Gross unrealized losses	6		6		3
Equity securities, at fair value	567		567		603
Continuous unrealized loss position less than 12 months, fair value	150		150		45
Continuous unrealized loss position less than 12 months, gross unrealized losses	3		3		2
Continuous unrealized loss position 12 months or longer, fair value	14		14		10
Continuous unrealized loss position 12 months or longer, gross unrealized losses	3		3		1
Continuous unrealized loss position, total, fair value	164		164		55
Continuous unrealized loss position, total, gross unrealized losses	6		6		3
Non-redeemable preferred stock [Member]
Investment disclosure details
Equity securities, cost	115		115		114
Gross unrealized gains	23		23		20
Gross unrealized losses	5		5		5
Equity securities, at fair value	133		133		129
Continuous unrealized loss position less than 12 months, fair value					2
Continuous unrealized loss position 12 months or longer, fair value	61		61		59
Continuous unrealized loss position 12 months or longer, gross unrealized losses	5		5		5
Continuous unrealized loss position, total, fair value	61		61		61
Continuous unrealized loss position, total, gross unrealized losses	$ 5		$ 5		$ 5

Investments (details) - Derivat

Investments (details) - Derivatives - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Futures [Member] | U.S. Treasury notes contracts [Member]
Derivatives
Notional value of open contracts	$ 400	$ 400

Fair Value Measurements (detail

Fair Value Measurements (details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
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	$ 108	$ 99
Fair value of the fixed maturities for which the Company received a broker quote	$ 97	$ 85
Percent of short-term securities for which a pricing service estimates fair value	95.00%	98.00%
Percent of debt, including commercial paper, for which a pricing service estimates fair value	100.00%	100.00%

Fair Value Measurements (deta42

Fair Value Measurements (details) - Fair Value Hierarchy - Recurring basis [Member] - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Level within the fair value hierarchy at which the Company's financial assets are measured
Total invested assets measured on a recurring basis	$ 62,661	$ 61,300
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	2,679	2,709
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	59,741	58,371
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	241	220
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	61,907	60,515
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	2,033	2,038
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	59,669	58,293
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	205	184
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	2,028	2,035
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	2,028	2,035
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	32,114	31,910
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	32,109	31,898
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	5	12
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	1,556	1,662
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	1,556	1,662
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	1,767	1,708
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	1,735	1,704
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	32	4
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	24,347	23,107
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	2
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	24,177	22,939
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	168	168
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	95	93
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	3	3
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	92	90
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	700	732
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	628	654
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	72	78
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	567	603
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	567	603
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	133	129
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	61	51
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	72	78
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	54	53
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	18	17
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	$ 36	$ 36

Fair Value Measurements Footnot

Fair Value Measurements Footnote (details) - Financial Instruments - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Financial Instruments
Short-term securities	$ 5,292	$ 4,865
Commercial paper amount	0	100
Fair Value [Member]
Financial Instruments
Short-term securities	5,292	4,865
Debt	8,023	7,262
Commercial paper amount		100
Fair Value [Member] | Level 1 [Member]
Financial Instruments
Short-term securities	1,134	1,223
Fair Value [Member] | Level 2 [Member]
Financial Instruments
Short-term securities	4,124	3,607
Debt	8,023	7,262
Commercial paper amount		100
Fair Value [Member] | Level 3 [Member]
Financial Instruments
Short-term securities	34	35
Carrying Value [Member]
Financial Instruments
Short-term securities	5,292	4,865
Debt	$ 6,920	6,337
Commercial paper amount		$ 100

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets (details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Goodwill by segment
Goodwill	$ 3,589	$ 3,580
Reportable Segments [Member] | Business Insurance [Member]
Goodwill by segment
Goodwill	2,229	2,227
Reportable Segments [Member] | Bond & Specialty Insurance [Member]
Goodwill by segment
Goodwill	550	549
Reportable Segments [Member] | Personal Insurance [Member]
Goodwill by segment
Goodwill	784	778
Other [Member]
Goodwill by segment
Goodwill	$ 26	$ 26

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets (details) - Other Intangible Assets - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Goodwill and Other Intangible Assets disclosure
Intangible assets subject to amortization, gross carrying amount	$ 210		$ 210		$ 210
Intangible assets subject to amortization, accumulated amortization	163		163		159
Intangible assets subject to amortization, net	47		47		51
Intangible assets not subject to amortization	217		217		217
Total other intangible assets, gross carrying amount	427		427		427
Total other intangible assets, net	264		264		$ 268
Amortization expense of intangible assets	2	$ 2	5	$ 5
Estimated intangible asset amortization expense, remainder of 2017	4		4
Estimated intangible asset amortization expense, 2018	8		8
Estimated intangible asset amortization expense, 2019	7		7
Estimated intangible asset amortization expense, 2020	5		5
Estimated intangible asset amortization expense, 2021	$ 5		$ 5

Insurance Claim Reserves (detai

Insurance Claim Reserves (details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Insurance Claim Reserves disclosure
Amount of increase in gross claims and claim adjustment expense reserves	$ 627
Amount of decrease in reinsurance recoverables on unpaid losses	104
Accretion of discount	$ 25	$ 25

Insurance Claim Reserves (det47

Insurance Claim Reserves (details) - Reserve Detail for Claims and Claim Adjustment Expenses - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Reconciliation of beginning and ending reserve balances for claims and claim adjustment expenses [Roll Forward]
Claims and claim adjustment expense reserves at beginning of year	$ 47,949
Claims and claim adjustment expense reserves at end of period	48,574
Property casualty [Member]
Reconciliation of beginning and ending reserve balances for claims and claim adjustment expenses [Roll Forward]
Claims and claim adjustment expense reserves at beginning of year	47,929	$ 48,272
Reinsurance recoverables on unpaid losses	7,981	8,449
Net reserves at beginning of year	39,948	39,823
Estimated claims and claim adjustment expenses for claims arising in the current year	8,493	7,859
Estimated decrease in claims and claim adjustment expenses for claims arising in prior years	(214)	(418)
Total increases	8,279	7,441
Claims and claim adjustment expense payments for claims arising in current year	2,699	2,454
Claims and claim adjustment expense payments for claims arising in prior years	4,966	5,004
Total payments	7,665	7,458
Unrealized foreign exchange loss	117	36
Net reserves at end of period	40,679	39,842
Reinsurance recoverables on unpaid losses	7,877	8,089
Claims and claim adjustment expense reserves at end of period	48,556	$ 47,931
Accident and health [Member]
Reconciliation of beginning and ending reserve balances for claims and claim adjustment expenses [Roll Forward]
Claims and claim adjustment expense reserves at beginning of year	20
Claims and claim adjustment expense reserves at end of period	$ 18

Insurance Claim Reserves (det48

Insurance Claim Reserves (details) - Prior Year Reserve Development - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Liability for claims and claim adjustment expense
Net favorable prior year reserve development impacting the Company's results of operations			$ 284	$ 468
Business Insurance [Member]
Liability for claims and claim adjustment expense
Net favorable prior year reserve development impacting the Company's results of operations	$ 125	$ 125	186	199
Bond & Specialty Insurance [Member]
Liability for claims and claim adjustment expense
Net favorable prior year reserve development impacting the Company's results of operations	78	159	92	225
Personal Insurance [Member]
Liability for claims and claim adjustment expense
Net favorable prior year reserve development impacting the Company's results of operations	$ 0	$ 4	$ 6	$ 44

Insurance Claim Reserves (det49

Insurance Claim Reserves (details) - Environmental Reserves - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Business Insurance [Member] | Environmental reserves [Member]
Liability for claims and claim adjustment expense
Increase to environmental reserves	$ 65	$ 82	$ 65	$ 82

Other Comprehensive Income an50

Other Comprehensive Income and Accumulated Other Comprehensive Income (details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated other comprehensive income [Roll Forward]
Shareholders' equity, beginning of year			$ 23,221
Other comprehensive income, net of taxes	$ 271	$ 551	411	$ 1,122
Shareholders' equity, end of period	23,858	24,714	23,858	24,714
Pre-tax components of other comprehensive income and related tax expense
Other comprehensive income before income taxes	394	874	596	1,712
Income tax expense	123	323	185	590
Other comprehensive income, net of taxes	271	551	411	1,122
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated other comprehensive income [Roll Forward]
Shareholders' equity, beginning of year			(755)	(157)
Other comprehensive income before reclassifications			449
Amounts reclassified from accumulated other comprehensive income			(38)
Other comprehensive income, net of taxes	271	551	411	1,122
Shareholders' equity, end of period	(344)	965	(344)	965
Pre-tax components of other comprehensive income and related tax expense
Other comprehensive income before income taxes	394	874	596	1,712
Income tax expense	123	323	185	590
Other comprehensive income, net of taxes	271	551	411	1,122
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]
Shareholders' equity, beginning of year			528
Other comprehensive income before reclassifications			365
Amounts reclassified from accumulated other comprehensive income			(61)
Other comprehensive income, net of taxes	211	574	304	1,041
Shareholders' equity, end of period	832		832
Pre-tax components of other comprehensive income and related tax expense
Other comprehensive income before income taxes	327	879	471	1,593
Income tax expense	116	305	167	552
Other comprehensive income, net of taxes	211	574	304	1,041
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]
Shareholders' equity, beginning of year			202
Other comprehensive income before reclassifications			1
Other comprehensive income, net of taxes	1	8	1	11
Shareholders' equity, end of period	203		203
Pre-tax components of other comprehensive income and related tax expense
Other comprehensive income before income taxes	2	12	2	17
Income tax expense	1	4	1	6
Other comprehensive income, net of taxes	1	8	1	11
Net Benefit Plan Assets and Obligations Recognized in Shareholders' Equity [Member]
Accumulated other comprehensive income [Roll Forward]
Shareholders' equity, beginning of year			(703)
Amounts reclassified from accumulated other comprehensive income			23
Other comprehensive income, net of taxes	11	12	23	23
Shareholders' equity, end of period	(680)		(680)
Pre-tax components of other comprehensive income and related tax expense
Other comprehensive income before income taxes	17	18	34	34
Income tax expense	6	6	11	11
Other comprehensive income, net of taxes	11	12	23	23
Net Unrealized Foreign Currency Translation [Member]
Accumulated other comprehensive income [Roll Forward]
Shareholders' equity, beginning of year			(782)
Other comprehensive income before reclassifications			83
Other comprehensive income, net of taxes	48	(43)	83	47
Shareholders' equity, end of period	(699)		(699)
Pre-tax components of other comprehensive income and related tax expense
Other comprehensive income before income taxes	48	(35)	89	68
Income tax expense		8	6	21
Other comprehensive income, net of taxes	$ 48	$ (43)	$ 83	$ 47

Other Comprehensive Income an51

Other Comprehensive Income and Accumulated Other Comprehensive Income (details) - Reclassifications - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification adjustment impacting net realized investment gains on the income statement	[1]	$ (80)	$ (19)	$ (85)	$ (10)
Reclassification adjustment impacting claims and claim adjustment expenses on the income statement		4,225	3,762	8,319	7,474
Reclassification adjustment impacting general and administrative expense on the income statement		1,045	1,054	2,041	2,049
Total reclassifications		(790)	(887)	(1,550)	(1,804)
Income tax (expense) benefit		(195)	(223)	(338)	(449)
Amounts reclassified from accumulated other comprehensive income, net of taxes		(595)	(664)	(1,212)	(1,355)
Accumulated Other Comprehensive Income (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Total reclassifications		(66)	(8)	(59)	8
Income tax (expense) benefit		(23)	(2)	(21)	3
Amounts reclassified from accumulated other comprehensive income, net of taxes		(43)	(6)	(38)	5
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 net realized investment gains on the income statement		(84)	(24)	(94)	(35)
Income tax (expense) benefit		(30)	(8)	(33)	(12)
Amounts reclassified from accumulated other comprehensive income, net of taxes		(54)	(16)	(61)	(23)
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 net realized investment gains on the income statement			1		12
Income tax (expense) benefit					4
Amounts reclassified from accumulated other comprehensive income, net of taxes			1		8
Net Benefit Plan Assets and Obligations Recognized in Shareholders' Equity [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income
Reclassification adjustment impacting claims and claim adjustment expenses on the income statement		7	6	14	12
Reclassification adjustment impacting general and administrative expense on the income statement		11	9	21	19
Total reclassifications		18	15	35	31
Income tax (expense) benefit		7	6	12	11
Amounts reclassified from accumulated other comprehensive income, net of taxes		$ 11	$ 9	$ 23	$ 20
[1]	Total other-than-temporary impairment (OTTI) losses were $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(6) million and $(32) million for the six months ended June 30, 2017 and 2016, respectively. Of total OTTI, credit losses of $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(7) million and $(22) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million for each of the three months ended June 30, 2017 and 2016, and $1 million and $(10) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in other comprehensive income 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	May 22, 2017	Jun. 30, 2017	Jun. 30, 2016
Debt Instrument
Net proceeds of issuance, after the deduction of the underwriting discount and expenses		$ 689	$ 491
4.00% Senior notes due May 30, 2047 [Member]
Debt Instrument
Debt, principal amount	$ 700
Interest rate (percent)	4.00%
Net proceeds of issuance, after the deduction of the underwriting discount and expenses	$ 689
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	0.15%

Debt (details) - Payment

Debt (details) - Payment - USD ($) $ in Millions	Jun. 02, 2017	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Debt Instrument
Debt, principal amount repaid		$ 207	$ 400
Commercial paper, amount outstanding		$ 0		$ 100
6.25% Fixed-to-floating rate junior subordinated debentures due March 15, 2067 [Member]
Debt Instrument
Debt, principal amount repaid	$ 107
Interest rate (percent)	6.25%
Percentage of principal amount at which redemption price was set	100.00%

Common Share Repurchases (detai

Common Share Repurchases (details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Apr. 20, 2017
Common Share Repurchases disclosure
Number of shares repurchased (in shares)	3,800,000	5,700,000
Cost of shares repurchased	$ 475	$ 700
Average cost per share repurchased	$ 123.04	$ 122.33
Number of shares acquired to cover tax withholding costs and exercise costs (in shares)	1,803	500,000
Cost of shares acquired to cover tax withholding costs and exercise costs	$ 0.2	$ 61
Additional share repurchase authorization			$ 5,000
Remaining capacity under share repurchase authorization	$ 5,230	$ 5,230

Earnings per Share (details)

Earnings per Share (details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings per Share disclosure
Net income	$ 595	$ 664	$ 1,212	$ 1,355
Participating share-based awards - allocated income	(5)	(5)	(9)	(10)
Net income available to common shareholders -- basic	590	659	1,203	1,345
Net income available to common shareholders -- diluted	$ 590	$ 659	$ 1,203	$ 1,345
Weighted average shares outstanding, basic	277.5	290.1	278.6	292.1
Weighted average effects of dilutive securities, stock options and performance shares (in shares)	2.5	3.5	2.6	3.5
Weighted average shares outstanding, diluted	280	293.6	281.2	295.6
Net income per common share, basic	$ 2.13	$ 2.27	$ 4.32	$ 4.60
Net income per common share, diluted	$ 2.11	$ 2.24	$ 4.28	$ 4.55

Share-Based Incentive Compens56

Share-Based Incentive Compensation (details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-Based Incentive Compensation disclosure
Stock options vested at end of period, number (in shares)	5,999,122		5,999,122
Stock options vested at end of period, weighted average exercise price (per share)	$ 87.63		$ 87.63
Stock options vested at end of period, weighted average contractual life remaining			6 years 4 months 24 days
Stock options vested at end of period, aggregate intrinsic value	$ 233		$ 233
Stock options exercisable at end of period, number (in shares)	3,276,192		3,276,192
Stock options exercisable at end of period, weighted average exercise price (per share)	$ 69.02		$ 69.02
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	$ 188		$ 188
Total compensation cost recognized in earnings for all share-based incentive compensation awards	31	$ 32	73	$ 82
Tax benefit recognized in earnings related to compensation costs	10	$ 11	24	$ 28
Total unrecognized compensation cost related to all nonvested share-based incentive compensation awards	$ 186		$ 186
Weighted-average period of recognition for unrecognized compensation cost (in years)			2 years

Pension Plans, Retirement Ben57

Pension Plans, Retirement Benefits and Savings Plans (details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Pension Plans [Member]
Defined benefit plan disclosure
Service cost	$ 30	$ 30	$ 60	$ 59
Interest cost on benefit obligation	30	31	61	61
Expected return on plan assets	(60)	(58)	(120)	(115)
Net periodic benefit cost, settlement		1		1
Net periodic benefit cost, amortization of unrecognized net actuarial loss	19	16	37	33
Total non-service cost	(11)	(10)	(22)	(20)
Net periodic benefit cost	19	20	38	39
Pension Plans [Member] | Claims and claim adjustment expenses [Member]
Defined benefit plan disclosure
Service cost	12	12	24	24
Total non-service cost	(5)	(5)	(9)	(9)
Pension Plans [Member] | General and administrative expenses [Member]
Defined benefit plan disclosure
Service cost	18	18	36	35
Total non-service cost	(6)	(5)	(13)	(11)
Postretirement Benefit Plans [Member]
Defined benefit plan disclosure
Interest cost on benefit obligation	1	2	3	4
Net periodic benefit cost, amortization of unrecognized prior service benefit	$ (1)	(1)	(2)	(2)
Total non-service cost		1	1	2
Net periodic benefit cost		1	1	2
Postretirement Benefit Plans [Member] | Claims and claim adjustment expenses [Member]
Defined benefit plan disclosure
Total non-service cost		$ 1		1
Postretirement Benefit Plans [Member] | General and administrative expenses [Member]
Defined benefit plan disclosure
Total non-service cost			$ 1	$ 1

Contingencies, Commitments an58

Contingencies, Commitments and Guarantees (details) $ in Millions	3 Months Ended	79 Months Ended
	Dec. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Jun. 30, 2017USD ($)	May 01, 2017item	Nov. 07, 2016USD ($)item	Nov. 06, 2016USD ($)	Aug. 17, 2010item
Gain Contingency
Reinsurance recoverables	$ 8,287		$ 8,150
United States Fidelity & Guaranty Company v. American Re-Insurance Company, et al. [Member]
Gain Contingency
Number of discrete issues for which the Court of Appeals remanded the case for trial | item							2
Number of reinsurer defendants | item				2	3
Number of reinsurers with whom the Company reached a settlement agreeement | item				2	1
Gain from payment received from settlement (pre-tax)	126
Gain from payment received from settlement (after-tax)	$ 82
Reinsurance recoverables		$ 31	$ 0		$ 31	$ 238
Total settlement amount		71
Settlement amount, reinsurance recoverables		31
Interest related to settlement award		$ 40

Contingencies, Commitments an59

Contingencies, Commitments and Guarantees (details) - Commitments - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Contingencies and Commitments disclosure
Unfunded commitments to private equity limited partnerships and real estate partnerships	$ 1,580	$ 1,600

Contingencies, Commitments an60

Contingencies, Commitments and Guarantees (details) - Guarantees $ in Millions	Jun. 30, 2017USD ($)
Indemnifications related to the sale of businesses [Member]
Guarantor obligations
Maximum amount of contingent obligation	$ 358
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	45
Amount indemnified by a third party	23
Guarantees of certain insurance policy obligations [Member]
Guarantor obligations
Maximum amount of contingent obligation	480
Amount indemnified by a third party	$ 480

Consolidating Financial State61

Consolidating Financial Statements (Unaudited) (details) $ in Millions	Jun. 30, 2017USD ($)
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 State62

Consolidating Financial Statements (details) - Consolidating Statement of Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidating Statement of Income
Premiums		$ 6,351	$ 6,067	$ 12,534	$ 12,048
Net investment income		598	549	1,208	1,093
Fee income		116	119	229	236
Net realized investment gains (losses)	[1]	80	19	85	10
Other revenues		39	31	70	84
Total revenues		7,184	6,785	14,126	13,471
Claims and claim adjustment expenses		4,225	3,762	8,319	7,474
Amortization of deferred acquisition costs		1,032	989	2,035	1,960
General and administrative expenses		1,045	1,054	2,041	2,049
Interest expense		92	93	181	184
Total claims and expenses		6,394	5,898	12,576	11,667
Income before income taxes		790	887	1,550	1,804
Income tax expense (benefit)		195	223	338	449
Net income		595	664	1,212	1,355
Total other-than-temporary impairment losses		(5)	(4)	(6)	(32)
Other-than-temporary impairment losses recognized in net realized investment gains (losses)		(5)	(4)	(7)	(22)
Other-than-temporary impairment gains (losses) recognized in other comprehensive income		0	0	1	(10)
Reportable Legal Entities [Member] | TPC [Member]
Consolidating Statement of Income
Premiums		4,345	4,161	8,573	8,246
Net investment income		401	377	813	753
Fee income		116	119	229	236
Net realized investment gains (losses)		(4)	(1)	(8)	(17)
Other revenues		30	33	54	81
Total revenues		4,888	4,689	9,661	9,299
Claims and claim adjustment expenses		2,851	2,575	5,603	5,095
Amortization of deferred acquisition costs		693	666	1,361	1,316
General and administrative expenses		737	743	1,440	1,447
Interest expense		12	12	24	24
Total claims and expenses		4,293	3,996	8,428	7,882
Income before income taxes		595	693	1,233	1,417
Income tax expense (benefit)		157	191	287	390
Net income		438	502	946	1,027
Total other-than-temporary impairment losses		(2)	(3)	(2)	(17)
Other-than-temporary impairment losses recognized in net realized investment gains (losses)		(2)	(3)	(3)	(12)
Other-than-temporary impairment gains (losses) recognized in other comprehensive income				1	(5)
Reportable Legal Entities [Member] | Other Subsidiaries [Member]
Consolidating Statement of Income
Premiums		2,006	1,906	3,961	3,802
Net investment income		191	168	385	334
Net realized investment gains (losses)		25	20	34	27
Other revenues		12	1	21	17
Total revenues		2,234	2,095	4,401	4,180
Claims and claim adjustment expenses		1,374	1,187	2,716	2,379
Amortization of deferred acquisition costs		339	323	674	644
General and administrative expenses		305	313	597	611
Total claims and expenses		2,018	1,823	3,987	3,634
Income before income taxes		216	272	414	546
Income tax expense (benefit)		54	69	108	138
Net income		162	203	306	408
Total other-than-temporary impairment losses		(3)	(1)	(4)	(15)
Other-than-temporary impairment losses recognized in net realized investment gains (losses)		(3)	(1)	(4)	(10)
Other-than-temporary impairment gains (losses) recognized in other comprehensive income					(5)
Reportable Legal Entities [Member] | TRV [Member]
Consolidating Statement of Income
Net investment income		6	4	10	6
Net realized investment gains (losses)		59		59
Total revenues		65	4	69	6
General and administrative expenses		6	1	9	5
Interest expense		80	81	157	160
Total claims and expenses		86	82	166	165
Income before income taxes		(21)	(78)	(97)	(159)
Income tax expense (benefit)		(16)	(37)	(57)	(79)
Net income of subsidiaries		600	705	1,252	1,435
Net income		595	664	1,212	1,355
Eliminations [Member]
Consolidating Statement of Income
Other revenues		(3)	(3)	(5)	(14)
Total revenues		(3)	(3)	(5)	(14)
General and administrative expenses		(3)	(3)	(5)	(14)
Total claims and expenses		(3)	(3)	(5)	(14)
Net income of subsidiaries		(600)	(705)	(1,252)	(1,435)
Net income		$ (600)	$ (705)	$ (1,252)	$ (1,435)
[1]	Total other-than-temporary impairment (OTTI) losses were $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(6) million and $(32) million for the six months ended June 30, 2017 and 2016, respectively. Of total OTTI, credit losses of $(5) million and $(4) million for the three months ended June 30, 2017 and 2016, respectively, and $(7) million and $(22) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million for each of the three months ended June 30, 2017 and 2016, and $1 million and $(10) million for the six months ended June 30, 2017 and 2016, respectively, were recognized in other comprehensive income as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income.

Consolidating Financial State63

Consolidating Financial Statements (details) - Consolidating Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidating Statement of Comprehensive Income
Net income	$ 595	$ 664	$ 1,212	$ 1,355
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	327	879	471	1,593
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	2	12	2	17
Net changes in benefit plan assets and obligations	17	18	34	34
Net changes in unrealized foreign currency translation	48	(35)	89	68
Other comprehensive income before income taxes	394	874	596	1,712
Income tax expense (benefit)	123	323	185	590
Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries	271	551	411	1,122
Other comprehensive income, net of taxes	271	551	411	1,122
Comprehensive income	866	1,215	1,623	2,477
Reportable Legal Entities [Member] | TPC [Member]
Consolidating Statement of Comprehensive Income
Net income	438	502	946	1,027
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	296	570	389	1,055
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	1	6	2	8
Net changes in benefit plan assets and obligations		18		18
Net changes in unrealized foreign currency translation	14	25	39	119
Other comprehensive income before income taxes	311	619	430	1,200
Income tax expense (benefit)	102	216	139	397
Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries	209	403	291	803
Other comprehensive income, net of taxes	209	403	291	803
Comprehensive income	647	905	1,237	1,830
Reportable Legal Entities [Member] | Other Subsidiaries [Member]
Consolidating Statement of Comprehensive Income
Net income	162	203	306	408
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	85	306	129	534
Changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income	1	6		9
Net changes in benefit plan assets and obligations	(1)	19	(1)	20
Net changes in unrealized foreign currency translation	34	(60)	50	(51)
Other comprehensive income before income taxes	119	271	178	512
Income tax expense (benefit)	33	113	49	192
Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries	86	158	129	320
Other comprehensive income, net of taxes	86	158	129	320
Comprehensive income	248	361	435	728
Reportable Legal Entities [Member] | TRV [Member]
Consolidating Statement of Comprehensive Income
Net income	595	664	1,212	1,355
Changes in net unrealized gains on investment securities having no credit losses recognized in the consolidated statement of income	(54)	3	(47)	4
Net changes in benefit plan assets and obligations	18	(19)	35	(4)
Other comprehensive income before income taxes	(36)	(16)	(12)
Income tax expense (benefit)	(12)	(6)	(3)	1
Other comprehensive income (loss), net of taxes, before other comprehensive income of subsidiaries	(24)	(10)	(9)	(1)
Other comprehensive income of subsidiaries	295	561	420	1,123
Other comprehensive income, net of taxes	271	551	411	1,122
Comprehensive income	866	1,215	1,623	2,477
Eliminations [Member]
Consolidating Statement of Comprehensive Income
Net income	(600)	(705)	(1,252)	(1,435)
Other comprehensive income of subsidiaries	(295)	(561)	(420)	(1,123)
Other comprehensive income, net of taxes	(295)	(561)	(420)	(1,123)
Comprehensive income	$ (895)	$ (1,266)	$ (1,672)	$ (2,558)

Consolidating Financial State64

Consolidating Financial Statements (details) - Consolidating Balance Sheet (Unaudited) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Consolidating Balance Sheet
Fixed maturities, available for sale, at fair value	$ 61,907	$ 60,515
Equity securities, available for sale, at fair value	700	732
Real estate investments	920	928
Short-term securities	5,292	4,865
Other investments	3,512	3,448
Total investments	72,331	70,488
Cash	328	307	$ 265	$ 380
Investment income accrued	602	630
Premiums receivable	7,345	6,722
Reinsurance recoverables	8,150	8,287
Ceded unearned premiums	665	589
Deferred acquisition costs	2,051	1,923
Deferred taxes	201	465
Contractholder receivables	4,700	4,609
Goodwill	3,589	3,580
Other intangible assets	264	268
Other assets	2,443	2,377
Total assets	102,669	100,245
Claims and claim adjustment expense reserves	48,574	47,949
Unearned premium reserves	13,052	12,329
Contractholder payables	4,700	4,609
Payables for reinsurance premiums	364	273
Debt	6,920	6,437
Other liabilities	5,201	5,427
Total liabilities	78,811	77,024
Common stock	22,781	22,614
Retained earnings	33,016	32,196
Accumulated other comprehensive income (loss)	(344)	(755)
Treasury stock, at cost	(31,595)	(30,834)
Total shareholders' equity	23,858	23,221	24,714
Total liabilities and shareholders' equity	102,669	100,245
Fixed maturities, available for sale, amortized cost	60,482	59,650
Equity securities, available for sale, cost	$ 558	$ 504
Common stock, shares authorized	1,750	1,750
Common stock, shares issued	275.9	279.6
Common stock, shares outstanding	275.9	279.6
Treasury stock, at cost, shares	495.7	489.5
Reportable Legal Entities [Member] | TPC [Member]
Consolidating Balance Sheet
Fixed maturities, available for sale, at fair value	$ 43,029	$ 42,014
Equity securities, available for sale, at fair value	176	169
Real estate investments	55	56
Short-term securities	2,065	2,447
Other investments	2,612	2,569
Total investments	47,937	47,255
Cash	134	141	121	225
Investment income accrued	422	441
Premiums receivable	4,952	4,545
Reinsurance recoverables	5,594	5,664
Ceded unearned premiums	587	536
Deferred acquisition costs	1,847	1,741
Deferred taxes	(43)	216
Contractholder receivables	3,759	3,656
Goodwill	2,586	2,578
Other intangible assets	202	202
Other assets	2,122	1,973
Total assets	70,099	68,948
Claims and claim adjustment expense reserves	32,564	32,168
Unearned premium reserves	9,043	8,575
Contractholder payables	3,759	3,656
Payables for reinsurance premiums	214	156
Debt	693	693
Other liabilities	3,956	4,106
Total liabilities	50,229	49,354
Additional paid-in capital	11,634	11,634
Retained earnings	7,917	7,933
Accumulated other comprehensive income (loss)	319	27
Total shareholders' equity	19,870	19,594
Total liabilities and shareholders' equity	70,099	68,948
Reportable Legal Entities [Member] | Other Subsidiaries [Member]
Consolidating Balance Sheet
Fixed maturities, available for sale, at fair value	18,829	18,452
Equity securities, available for sale, at fair value	357	408
Real estate investments	865	872
Short-term securities	715	791
Other investments	899	878
Total investments	21,665	21,401
Cash	192	164	141	153
Investment income accrued	176	183
Premiums receivable	2,393	2,177
Reinsurance recoverables	2,556	2,623
Ceded unearned premiums	78	53
Deferred acquisition costs	204	182
Deferred taxes	188	224
Contractholder receivables	941	953
Goodwill	1,003	1,002
Other intangible assets	62	66
Other assets	283	370
Total assets	29,741	29,398
Claims and claim adjustment expense reserves	16,010	15,781
Unearned premium reserves	4,009	3,754
Contractholder payables	941	953
Payables for reinsurance premiums	150	117
Other liabilities	1,040	1,239
Total liabilities	22,150	21,844
Common stock	390	390
Additional paid-in capital	6,499	6,499
Retained earnings	706	797
Accumulated other comprehensive income (loss)	(4)	(132)
Total shareholders' equity	7,591	7,554
Total liabilities and shareholders' equity	29,741	29,398
Reportable Legal Entities [Member] | TRV [Member]
Consolidating Balance Sheet
Fixed maturities, available for sale, at fair value	49	49
Equity securities, available for sale, at fair value	167	155
Short-term securities	2,512	1,627
Other investments	1	1
Total investments	2,729	1,832
Cash	2	2	$ 3	$ 2
Investment income accrued	4	6
Deferred taxes	56	25
Investment in subsidiaries	27,451	27,137
Other assets	38	34
Total assets	30,280	29,036
Debt	6,227	5,744
Other liabilities	205	82
Total liabilities	6,432	5,826
Common stock	22,781	22,614
Retained earnings	33,006	32,185
Accumulated other comprehensive income (loss)	(344)	(755)
Treasury stock, at cost	(31,595)	(30,834)
Total shareholders' equity	23,848	23,210
Total liabilities and shareholders' equity	30,280	29,036
Eliminations [Member]
Consolidating Balance Sheet
Investment in subsidiaries	(27,451)	(27,137)
Total assets	(27,451)	(27,137)
Common stock	(390)	(390)
Additional paid-in capital	(18,133)	(18,133)
Retained earnings	(8,613)	(8,719)
Accumulated other comprehensive income (loss)	(315)	105
Total shareholders' equity	(27,451)	(27,137)
Total liabilities and shareholders' equity	$ (27,451)	$ (27,137)

Consolidating Financial State65

Consolidating Financial Statements (details) - Consolidating Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidating Statement of Cash Flows
Net income	$ 595	$ 664	$ 1,212	$ 1,355
Net adjustments to reconcile net income to net cash provided by (used in) operating activities			373	(62)
Net cash provided by operating activities			1,585	1,293
Proceeds from maturities of fixed maturities			4,300	3,773
Proceeds from sales of investments, fixed maturities			563	739
Proceeds from sales of investments, equity securities			200	38
Proceeds from sales of investments, real estate investments			20	69
Proceeds from sales of investments, other investments			403	343
Purchases of investments, fixed maturities			(5,673)	(5,705)
Purchases of investments, equity securities			(166)	(26)
Purchases of investments, real estate investments			(26)	(20)
Purchases of investments, other investments			(259)	(290)
Net (purchases) sales of short-term securities			(424)	681
Securities transactions in course of settlement			170	461
Other investing activities			(129)	(154)
Net cash used in investing activities			(1,021)	(91)
Treasury stock acquired - share repurchase authorization			(700)	(1,100)
Treasury stock acquired - net employee share-based compensation			(61)	(59)
Dividends paid to shareholders			(389)	(375)
Payment of debt			(207)	(400)
Issuance of debt			689	491
Issuance of common stock - employee share options			118	129
Net cash used in financing activities			(550)	(1,314)
Effect of exchange rate changes on cash			7	(3)
Net increase (decrease) in cash			21	(115)
Cash at beginning of year			307	380
Cash at end of period	328	265	328	265
Income taxes paid (received)			323	467
Interest paid			178	180
Reportable Legal Entities [Member] | TPC [Member]
Consolidating Statement of Cash Flows
Net income	438	502	946	1,027
Net adjustments to reconcile net income to net cash provided by (used in) operating activities			224	(17)
Net cash provided by operating activities			1,170	1,010
Proceeds from maturities of fixed maturities			3,211	2,728
Proceeds from sales of investments, fixed maturities			285	385
Proceeds from sales of investments, equity securities			4	10
Proceeds from sales of investments, other investments			294	233
Purchases of investments, fixed maturities			(4,160)	(3,588)
Purchases of investments, equity securities			(3)	(5)
Purchases of investments, other investments			(202)	(221)
Net (purchases) sales of short-term securities			383	193
Securities transactions in course of settlement			105	325
Other investing activities			(135)	(151)
Net cash used in investing activities			(218)	(91)
Dividends paid to parent company			(961)	(1,025)
Net cash used in financing activities			(961)	(1,025)
Effect of exchange rate changes on cash			2	2
Net increase (decrease) in cash			(7)	(104)
Cash at beginning of year			141	225
Cash at end of period	134	121	134	121
Income taxes paid (received)			336	398
Interest paid			24	24
Reportable Legal Entities [Member] | Other Subsidiaries [Member]
Consolidating Statement of Cash Flows
Net income	162	203	306	408
Net adjustments to reconcile net income to net cash provided by (used in) operating activities			31	(222)
Net cash provided by operating activities			337	186
Proceeds from maturities of fixed maturities			1,087	1,040
Proceeds from sales of investments, fixed maturities			278	352
Proceeds from sales of investments, equity securities			75	28
Proceeds from sales of investments, real estate investments			20	69
Proceeds from sales of investments, other investments			109	110
Purchases of investments, fixed maturities			(1,511)	(2,108)
Purchases of investments, equity securities			(41)	(19)
Purchases of investments, real estate investments			(26)	(20)
Purchases of investments, other investments			(57)	(69)
Net (purchases) sales of short-term securities			78	639
Securities transactions in course of settlement			64	137
Other investing activities			6	(3)
Net cash used in investing activities			82	156
Dividends paid to parent company			(396)	(349)
Net cash used in financing activities			(396)	(349)
Effect of exchange rate changes on cash			5	(5)
Net increase (decrease) in cash			28	(12)
Cash at beginning of year			164	153
Cash at end of period	192	141	192	141
Income taxes paid (received)			119	142
Reportable Legal Entities [Member] | TRV [Member]
Consolidating Statement of Cash Flows
Net income	595	664	1,212	1,355
Net adjustments to reconcile net income to net cash provided by (used in) operating activities			223	116
Net cash provided by operating activities			1,435	1,471
Proceeds from maturities of fixed maturities			2	5
Proceeds from sales of investments, fixed maturities				2
Proceeds from sales of investments, equity securities			121
Purchases of investments, fixed maturities			(2)	(9)
Purchases of investments, equity securities			(122)	(2)
Net (purchases) sales of short-term securities			(885)	(151)
Securities transactions in course of settlement			1	(1)
Net cash used in investing activities			(885)	(156)
Treasury stock acquired - share repurchase authorization			(700)	(1,100)
Treasury stock acquired - net employee share-based compensation			(61)	(59)
Dividends paid to shareholders			(389)	(375)
Payment of debt			(207)	(400)
Issuance of debt			689	491
Issuance of common stock - employee share options			118	129
Net cash used in financing activities			(550)	(1,314)
Net increase (decrease) in cash				1
Cash at beginning of year			2	2
Cash at end of period	2	3	2	3
Income taxes paid (received)			(132)	(73)
Interest paid			154	156
Eliminations [Member]
Consolidating Statement of Cash Flows
Net income	$ (600)	$ (705)	(1,252)	(1,435)
Net adjustments to reconcile net income to net cash provided by (used in) operating activities			(105)	61
Net cash provided by operating activities			(1,357)	(1,374)
Dividends paid to parent company			1,357	1,374
Net cash used in financing activities			$ 1,357	$ 1,374