
Three months ended March 31, 2025	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total

Operating revenues
Net earned premiums	$	830	$	1,380	$	310	$	106	$	—	$	—	$	2,626
Net investment income	151		177		34		226		16		—		604
Non-insurance warranty revenue	397		—		—		—		—		—		397
Other revenues	1		8		—		—		3		(3)		9
Total operating revenues	1,379		1,565		344		332		19		(3)		3,636
Claims, benefits and expenses
Net incurred claims and benefits	509		1,007		192		300		9		—		2,017
Policyholders’ dividends	2		8		—		—		—		—		10
Amortization of deferred acquisition costs	189		219		63		—		—		—		471
Non-insurance warranty expense	385		—		—		—		—		—		385
Insurance related administrative expenses	88		163		40		30		—		—		321
Interest expense	—		—		—		—		32		—		32
Other expenses (1)	15		10		(1)		—		21		(3)		42
Total claims, benefits and expenses	1,188		1,407		294		330		62		(3)		3,278



Income tax (expense) benefit on core income (loss)	(41)		(34)		(13)		4		7		—		(77)

Core income (loss)	$	150	$	124	$	37	$	6	$	(36)	$	—	$	281
Net investment gains (losses)													(9)
Income tax (expense) benefit on net investment gains (losses)													2
Net investment gains (losses), after tax													(7)



Net income (loss)													$	274

(1) Other expenses for the Company's property and casualty commercial insurance segments reflects expenses not directly related to the Company's insurance operations, including certain expenses related to the Company's non-insurance warranty business within Specialty, claims services offerings within Commercial and foreign currency transaction gains and losses within International. Other expenses for the Corporate & Other segment reflects certain corporate expenses not attributable to the Company's ongoing property and casualty insurance operations.


March 31, 2025	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total
Reinsurance receivables	$	1,624	$	1,739	$	558	$	81	$	2,286	$	—	$	6,288
Insurance receivables	992		2,306		429		2		—		—		3,729
Deferred acquisition costs	441		423		135		—		—		—		999
Goodwill	117		—		29		—		—		—		146
Deferred non-insurance warranty acquisition expense	3,493		—		—		—		—		—		3,493
Insurance reserves
Claim and claim adjustment expenses	7,572		11,708		3,046		616		2,639		—		25,581
Unearned premiums	3,267		3,366		760		112		—		(1)		7,504
Future policy benefits	—		—		—		13,304		—		—		13,304
Deferred non-insurance warranty revenue	4,488		—		—		—		—		—		4,488


Three months ended March 31, 2024	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total

Operating revenues
Net earned premiums	$	814	$	1,202	$	315	$	110	$	—	$	—	$	2,441
Net investment income	150		176		31		231		21		—		609
Non-insurance warranty revenue	407		—		—		—		—		—		407
Other revenues	1		8		—		—		3		(3)		9
Total operating revenues	1,372		1,386		346		341		24		(3)		3,466
Claims, benefits and expenses
Net incurred claims and benefits	477		828		189		312		(8)		—		1,798
Policyholders’ dividends	2		7		—		—		—		—		9
Amortization of deferred acquisition costs	178		200		66		—		—		—		444
Non-insurance warranty expense	394		—		—		—		—		—		394
Insurance related administrative expenses	81		138		39		29		—		—		287
Interest expense	1		—		—		—		34		—		35
Other expenses (1)	14		12		2		—		25		(3)		50
Total claims, benefits and expenses	1,147		1,185		296		341		51		(3)		3,017


Income tax (expense) benefit on core income (loss)	(48)		(43)		(13)		5		5		—		(94)

Core income (loss)	$	177	$	158	$	37	$	5	$	(22)	$	—	$	355
Net investment gains (losses)													(22)
Income tax (expense) benefit on net investment gains (losses)													5
Net investment gains (losses), after tax													(17)
Net income (loss)													$	338


December 31, 2024	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total
Reinsurance receivables	$	1,405	$	1,710	$	539	$	82	$	2,336	$	—	$	6,072
Insurance receivables	1,062		2,219		410		4		2		—		3,697
Deferred acquisition costs	427		405		127		—		—		—		959
Goodwill	117		—		28		—		—		—		145
Deferred non-insurance warranty acquisition expense	3,525		—		—		—		—		—		3,525
Insurance reserves
Claim and claim adjustment expenses	7,426		11,336		2,920		622		2,672		—		24,976
Unearned premiums	3,275		3,252		727		92		—		—		7,346
Future policy benefits	—		—		—		13,158		—		—		13,158
Deferred non-insurance warranty revenue	4,530		—		—		—		—		—		4,530


Three months ended March 31
(In millions)	2025		2024
Specialty
Non-catastrophe net incurred claim and claim adjustment expenses related to current year	$	499	$	482
Catastrophe losses	—		—
(Favorable) unfavorable development (1)	10		(5)
Commercial
Non-catastrophe net incurred claim and claim adjustment expenses related to current year	$	868	$	746
Catastrophe losses	86		82
(Favorable) unfavorable development (1)	51		(2)
International
Non-catastrophe net incurred claim and claim adjustment expenses related to current year	$	181	$	183
Catastrophe losses	11		6
(Favorable) unfavorable development (1)	—		—