Following are the operating results for the respective periods:



(millions)	Personal Lines		Commercial Lines		Other1		Companywide
Three Months Ended September 30, 2026
Net premiums earned	$	19,060	$	2,807	$	2	$	21,869
Fees and other revenues	291		20		0		311
Total underwriting revenue	19,351		2,827		2		22,180
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	10,888		1,689		7		12,584
Catastrophe losses	373		15		0		388
Loss adjustment expenses	1,605		327		0		1,932
Total losses and loss adjustment expenses	12,866		2,031		7		14,904
Underwriting expenses:
Distribution expenses2	2,749		340		3		3,092
Other underwriting expenses3	1,455		249		7		1,711
Total underwriting expenses	4,204		589		10		4,803
Pretax underwriting profit (loss)	$	2,281	$	207	$	(15)	2,473
Investment profit (loss)4							855
Service businesses profit (loss)							(5)
Interest expense							(87)
Total pretax profit (loss)							$	3,236



(millions)	Personal Lines		Commercial Lines		Other1		Companywide
Three Months Ended September 30, 2025
Net premiums earned	$	18,089	$	2,760	$	0	$	20,849
Fees and other revenues	272		34		0		306
Total underwriting revenue	18,361		2,794		0		21,155
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	9,801		1,575		1		11,377
Catastrophe losses	207		12		0		219
Loss adjustment expenses	1,554		296		(1)		1,849
Total losses and loss adjustment expenses	11,562		1,883		0		13,445
Underwriting expenses:
Distribution expenses2	2,507		313		1		2,821
Other underwriting expenses3	2,394		300		5		2,699
Total underwriting expenses	4,901		613		6		5,520
Pretax underwriting profit (loss)	$	1,898	$	298	$	(6)	2,190
Investment profit (loss)4							1,209
Service businesses profit (loss)							(6)
Interest expense							(70)
Total pretax profit (loss)							$	3,323


(millions)	Personal Lines		Commercial Lines		Other1		Companywide
Nine Months Ended September 30, 2026
Net premiums earned	$	56,324	$	8,081	$	5	$	64,410
Fees and other revenues	855		58		0		913
Total underwriting revenue	57,179		8,139		5		65,323
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	31,608		4,536		14		36,158
Catastrophe losses	1,395		34		0		1,429
Loss adjustment expenses	4,798		918		0		5,716
Total losses and loss adjustment expenses	37,801		5,488		14		43,303
Underwriting expenses:
Distribution expenses2	7,949		956		8		8,913
Other underwriting expenses3	4,227		807		18		5,052
Total underwriting expenses	12,176		1,763		26		13,965
Pretax underwriting profit (loss)	$	7,202	$	888	$	(35)	8,055
Investment profit (loss)4							3,217
Service businesses profit (loss)							(16)
Interest expense							(245)
Total pretax profit (loss)							$	11,011


(millions)	Personal Lines		Commercial Lines		Other1		Companywide
Nine Months Ended September 30, 2025
Net premiums earned	$	52,343	$	8,224	$	1	$	60,568
Fees and other revenues	784		112		0		896
Total underwriting revenue	53,127		8,336		1		61,464
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	28,484		4,695		0		33,179
Catastrophe losses	1,349		36		0		1,385
Loss adjustment expenses	4,415		875		0		5,290
Total losses and loss adjustment expenses	34,248		5,606		0		39,854
Underwriting expenses:
Distribution expenses2	7,183		907		2		8,092
Other underwriting expenses3	4,967		823		13		5,803
Total underwriting expenses	12,150		1,730		15		13,895
Pretax underwriting profit (loss)	$	6,729	$	1,000	$	(14)	7,715
Investment profit (loss)4							3,053
Service businesses profit (loss)							(18)
Interest expense							(209)
Total pretax profit (loss)							$	10,541

2 Includes policy acquisition costs, agents’ contingent commissions, and advertising costs attributable to our operating segments. A portion of our companywide advertising costs are also attributed to our service businesses.

3 Primarily consists of employee compensation and benefit costs, policyholder credits, and the increase in the allowance for credit loss exposure on our premiums receivable. Personal Lines results for both the three and nine months ended September 30, 2025, included $950 million of policyholder credit expense, related to estimated profit we earned for the three-accident-year period ended December 31, 2025, in excess of the statutory profit limit that a Florida statute imposes on the profit that any insurance group can earn on personal auto insurance over any contiguous three-accident-year period. See our 2025 Annual Report to Shareholders for further discussion of the Florida policyholder credit expense.