Six-year summary of selected financial data
(In millions, except per share data)
1998
1997
1996
1995
1994
1993
Consolidated
$8,515
Revenues from continuing operations
$9,108
$9,623
$7,678
$7,474
$9,232
Operating earnings from continuing operations
89
997
840
768
728
667
Investment Activity
Net investment income
1,585
1,578
1,513
1,474
1,422
1,393
Realized investment gains (losses), net of taxes
202
423
262
92
47
64
Other Selected Financial Data (As of December 31)
Total assets
38,323
37,359
35,146
33,238
30,200
30,120
Debt
1,260
1,304
1,171
1,304
1,244
1,267
Common securities
503
503
307
207
-
-
Common shareholders' equity
6,621
6,591
5,631
5,342
3,675
3,910
Common shares outstanding
233.8
233.1
230.9
235.4
227.5
221.0
Per Common Share Data
Income from continuing operations
0.32
3.96
3.26
2.96
2.85
2.66
Book value
28.32
28.27
24.39
22.69
16.15
17.69
Year-end market price
34.81
41.03
29.31
27.81
22.38
22.47
Cash dividends declared
1.00
0.94
0.88
0.80
0.75
0.70
Property-Liability Insurance
6,806
6,012
5,681
Written premiums
6,693
6,933
7,034
Pretax operating earnings (loss)
(56)
978
679
849
773
783
GAAP underwriting result
(1,041)
(233)
(350)
(227)
(267)
(240)
Statutory combined ratio:
71.1
73.2
72.2
72.5
73.7
Loss and loss expense ratio
82.1
Underwriting expense ratio
34.1
32.7
31.9
31.1
32.0
32.7
Combined ratio
116.2
103.8
105.1
103.3
104.5
106.4
Life Insurance
Product sales
501
446
427
348
286
205
Premium income
119
137
145
174
152
129
Net income (loss)
13
51
(5)
19
12
10