
Three months ended June 30, 2025	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total

Operating revenues
Net earned premiums	$	862	$	1,402	$	324	$	106	$	—	$	—	$	2,694
Net investment income	170		206		38		235		13		—		662
Non-insurance warranty revenue	398		—		—		—		—		—		398
Other revenues	(1)		10		—		—		3		(3)		9
Total operating revenues	1,429		1,618		362		341		16		(3)		3,763
Claims, benefits and expenses
Net incurred claims and benefits	519		940		195		313		108		—		2,075
Policyholders’ dividends	3		7		—		—		—		—		10
Amortization of deferred acquisition costs	195		211		63		—		—		—		469
Non-insurance warranty expense	384		—		—		—		—		—		384
Insurance related administrative expenses	92		170		43		31		1		—		337
Interest expense	—		—		—		—		31		—		31
Other expenses (1)	10		15		(10)		1		18		(3)		31
Total claims, benefits and expenses	1,203		1,343		291		345		158		(3)		3,337



Income tax (expense) benefit on core income (loss)	(49)		(57)		(18)		5		28		—		(91)

Core income (loss)	$	177	$	218	$	53	$	1	$	(114)	$	—	$	335
Net investment gains (losses)													(46)
Income tax (expense) benefit on net investment gains (losses)													10
Net investment gains (losses), after tax													(36)



Net income (loss)													$	299

(1) Other expenses for the Company's property and casualty 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.


Three months ended June 30, 2024	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total

Operating revenues
Net earned premiums	$	831	$	1,247	$	311	$	109	$	—	$	—	$	2,498
Net investment income	154		175		32		239		18		—		618
Non-insurance warranty revenue	404		—		—		—		—		—		404
Other revenues	(1)		10		—		—		3		(3)		9
Total operating revenues	1,388		1,432		343		348		21		(3)		3,529
Claims, benefits and expenses
Net incurred claims and benefits	492		846		184		325		27		—		1,874
Policyholders’ dividends	3		5		—		—		—		—		8
Amortization of deferred acquisition costs	180		199		56		—		—		—		435
Non-insurance warranty expense	388		—		—		—		—		—		388
Insurance related administrative expenses	96		158		46		29		—		—		329
Interest expense	(1)		—		—		—		35		—		34
Other expenses (1)	14		13		1		1		23		(3)		49
Total claims, benefits and expenses	1,172		1,221		287		355		85		(3)		3,117



Income tax (expense) benefit on core income (loss)	(47)		(44)		(12)		6		11		—		(86)

Core income (loss)	$	169	$	167	$	44	$	(1)	$	(53)	$	—	$	326
Net investment gains (losses)													(10)
Income tax (expense) benefit on net investment gains (losses)													1
Net investment gains (losses), after tax													(9)



Net income (loss)													$	317


Six months ended June 30, 2025	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total

Operating revenues
Net earned premiums	$	1,692	$	2,782	$	634	$	212	$	—	$	—	$	5,320
Net investment income	321		383		72		461		29		—		1,266
Non-insurance warranty revenue	795		—		—		—		—		—		795
Other revenues	—		18		—		—		6		(6)		18
Total operating revenues	2,808		3,183		706		673		35		(6)		7,399
Claims, benefits and expenses
Net incurred claims and benefits	1,028		1,947		387		613		117		—		4,092
Policyholders’ dividends	5		15		—		—		—		—		20
Amortization of deferred acquisition costs	384		430		126		—		—		—		940
Non-insurance warranty expense	769		—		—		—		—		—		769
Insurance related administrative expenses	180		333		83		61		1		—		658
Interest expense	—		—		—		—		63		—		63
Other expenses (1)	25		25		(11)		1		39		(6)		73
Total claims, benefits and expenses	2,391		2,750		585		675		220		(6)		6,615



Income tax (expense) benefit on core income (loss)	(90)		(91)		(31)		9		35		—		(168)

Core income (loss)	$	327	$	342	$	90	$	7	$	(150)	$	—	$	616
Net investment gains (losses)													(55)
Income tax (expense) benefit on net investment gains (losses)													12
Net investment gains (losses), after tax													(43)



Net income (loss)													$	573


June 30, 2025	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total
Reinsurance receivables	$	1,777	$	1,740	$	550	$	79	$	2,293	$	—	$	6,439
Insurance receivables	1,028		2,556		503		1		1		—		4,089
Deferred acquisition costs	447		420		154		—		—		—		1,021
Goodwill	117		—		31		—		—		—		148
Deferred non-insurance warranty acquisition expense	3,441		—		—		—		—		—		3,441
Insurance reserves
Claim and claim adjustment expenses	7,704		11,888		3,256		611		2,744		—		26,203
Unearned premiums	3,283		3,635		871		101		—		—		7,890
Future policy benefits	—		—		—		13,329		—		—		13,329
Deferred non-insurance warranty revenue	4,421		—		—		—		—		—		4,421


Six months ended June 30, 2024	Specialty		Commercial		International		Life & Group		Corporate & Other
(In millions)											Eliminations		Total

Operating revenues
Net earned premiums	$	1,645	$	2,449	$	626	$	219	$	—	$	—	$	4,939
Net investment income	304		351		63		470		39		—		1,227
Non-insurance warranty revenue	811		—		—		—		—		—		811
Other revenues	—		18		—		—		6		(6)		18
Total operating revenues	2,760		2,818		689		689		45		(6)		6,995
Claims, benefits and expenses
Net incurred claims and benefits	969		1,674		373		637		19		—		3,672
Policyholders’ dividends	5		12		—		—		—		—		17
Amortization of deferred acquisition costs	358		399		122		—		—		—		879
Non-insurance warranty expense	782		—		—		—		—		—		782
Insurance related administrative expenses	177		296		85		58		—		—		616
Interest expense	—		—		—		—		69		—		69
Other expenses (1)	28		25		3		1		48		(6)		99
Total claims, benefits and expenses	2,319		2,406		583		696		136		(6)		6,134


Income tax (expense) benefit on core income (loss)	(95)		(87)		(25)		11		16		—		(180)

Core income (loss)	$	346	$	325	$	81	$	4	$	(75)	$	—	$	681
Net investment gains (losses)													(32)
Income tax (expense) benefit on net investment gains (losses)													6
Net investment gains (losses), after tax													(26)
Net income (loss)													$	655


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


Periods ended June 30	Three Months				Six Months
(In millions)	2025		2024		2025		2024
Specialty
Non-catastrophe net incurred claim and claim adjustment expenses related to current year	$	519	$	495	$	1,018	$	977
Catastrophe losses	—		—		—		—
(Favorable) unfavorable development (1)	—		(3)		10		(8)
Commercial
Non-catastrophe net incurred claim and claim adjustment expenses related to current year	$	886	$	775	$	1,754	$	1,521
Catastrophe losses	57		76		143		158
(Favorable) unfavorable development (1)	(4)		(6)		47		(8)
International
Non-catastrophe net incurred claim and claim adjustment expenses related to current year	$	190	$	181	$	371	$	364
Catastrophe losses	5		6		16		12
(Favorable) unfavorable development (1)	—		(3)		—		(3)