----

|                          |
|--------------------------|
|                          |  |  |
| MEDIA:                   |   | ANALYSTS: |
| Sarah Pang, 312-822-6394 |   | James Anderson, 312-822-7757 |

|         |                                             |
|---------|---------------------------------------------|
| • | Q4 NET INCOME OF $223M; $0.82 PER SHARE |

|         |                                                     |
|---------|-----------------------------------------------------|
| • | Q4 CORE INCOME(a) OF $286M; $1.05 PER SHARE |

|         |                                         |
|---------|-----------------------------------------|
| • | Q4 AFTER-TAX CATASTROPHE LOSSES OF $24M |

|         |                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------|
| • | Q4 P&C COMBINED RATIO EX CATASTROPHES & DEVELOPMENT OF 95.8% VS 98.3% IN 2016  |

|         |                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------|
| • | 2017 P&C COMBINED RATIO EX CATASTROPHES & DEVELOPMENT OF 95.5% VS 97.9% IN 2016 |

|         |                                           |
|---------|-------------------------------------------|
| • | QUARTERLY DIVIDEND OF $0.30 PER SHARE |

|         |                                         |
|---------|-----------------------------------------|
| • | SPECIAL DIVIDEND OF $2.00 PER SHARE |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions, except per share data) | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net income                          | $ | 223 |  |   | $ | 241 |  |   | $ | 899 |  |   | $ | 859 |  |
| Core income                         | 286 |  |   | 221 |  |   | 919 |  |   | 824 |  |
|                                |   |   |   |   |   |   |   |
| Net income per diluted share        | $ | 0.82 |  |   | $ | 0.89 |  |   | $ | 3.30 |  |   | $ | 3.17 |  |
| Core income per diluted share       | 1.05 |  |   | 0.82 |  |   | 3.38 |  |   | 3.04 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                | December 31, 2017 |   | December 31, 2016 |
| Book value per share                | $ | 45.15 |   |   | $ | 44.25 |   |
| Book value per share excluding AOCI |   | 45.02 |   |   |   | 44.89 |   |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | What we previously referred to as “Net operating income (loss)” in our public disclosures, we now refer to as “Core income (loss).”  Additionally, the related financial measures of “Net operating income (loss) per diluted share” and “Net operating income (loss) return on equity” have also been changed accordingly.  The fourth quarter 2017 increase in income tax expense from the remeasurement of our net deferred tax asset as a result of the enacted U.S. Federal income tax rate change has been excluded from Core income.  There were no other changes to the calculation of Core income and related measures.  With this terminology change, we also removed “Non-Core” from the titles of our Life & Group and Corporate & Other segments to avoid confusion. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 1,601 |  |   |   | $ | 1,525 |  |   |   | $ | 6,534 |  |   |   | $ | 6,442 |  |   |
| NWP change (% year over year)                         | 5 |  | % |   | (4 | ) | % |   | 1 |  | % |   | — |  | % |
| Net investment income                                 | $ | 305 |  |   |   | $ | 322 |  |   |   | $ | 1,232 |  |   |   | $ | 1,205 |  |   |
| Core income                                           | 263 |  |   |   | 217 |  |   |   | 959 |  |   |   | 982 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 60.7 |  | % |   | 63.4 |  | % |   | 61.0 |  | % |   | 62.8 |  | % |
| Effect of catastrophe impacts                         | 2.3 |  |   |   | 1.8 |  |   |   | 6.0 |  |   |   | 2.6 |  |   |
| Effect of development-related items                   | (4.1 | ) |   |   | (0.2 | ) |   |   | (4.4 | ) |   |   | (4.6 | ) |   |
| Loss ratio                                            | 58.9 |  | % |   | 65.0 |  | % |   | 62.6 |  | % |   | 60.8 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Expense ratio                                         | 34.6 |  | % |   | 35.1 |  | % |   | 34.2 |  | % |   | 34.9 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 94.0 |  | % |   | 99.9 |  | % |   | 97.1 |  | % |   | 95.9 |  | % |
| Combined ratio excluding catastrophes and development | 95.8 |  | % |   | 98.3 |  | % |   | 95.5 |  | % |   | 97.9 |  | % |

|         |                                                                                                                                                                                                                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Property & Casualty Operations' core income was $263 million for the fourth quarter of 2017 as compared with $217 million in the prior year quarter.  The increase was driven by higher favorable net prior period loss reserve development and improved current accident year underwriting results. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development decreased 2.5 points as compared with the prior year quarter driven by 2.7 points of improvement in the loss ratio excluding catastrophes and development and a 0.5 point improvement in the expense ratio, partially offset by an increase in the policyholder dividend ratio.  The expense ratio included a 0.8 point accrual of additional incentive compensation recorded in the current quarter to reflect full year corporate performance. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio decreased 5.9 points as compared with the prior year quarter.  Net catastrophe losses were $38 million, or 2.3 points of the loss ratio in the quarter as compared with $28 million, or 1.8 points of the loss ratio, for the prior year quarter.  Favorable net prior period development improved the loss ratio by 4.1 points in the quarter as compared with a 0.2 point improvement in the prior year quarter. |

|         |                                              |
|---------|----------------------------------------------|
| • | Net written premiums grew 5% in the quarter. |

----

|         |                                                                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Property & Casualty Operations' core income was $959 million for the full year 2017 as compared with $982 million in the prior year.  This decrease was due to higher net catastrophe losses partially offset by improved non-catastrophe current accident year underwriting results. |

|         |                                                                                                                                                                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development decreased 2.4 points as compared with the prior year driven by 1.8 points of improvement in the loss ratio excluding catastrophes and development and a 0.7 point improvement in the expense ratio. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 1.2 points as compared with the prior year.  Net catastrophe losses were $380 million, or 6.0 points of the loss ratio for the full year as compared with $165 million, or 2.6 points of the loss ratio, for the prior year.  Favorable net prior period development improved the loss ratio by 4.4 points in the current year as compared with a 4.6 point improvement in the prior year. |

|         |                                                 |
|---------|-------------------------------------------------|
| • | Net written premiums grew 1% for the full year. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 671 |  |   |   | $ | 672 |  |   |   | $ | 2,771 |  |   |   | $ | 2,780 |  |   |
| NWP change (% year over year)                         | — |  | % |   | (5) |  | % |   | — |  | % |   | — |  | % |
| Core income                                           | $ | 140 |  |   |   | $ | 164 |  |   |   | $ | 610 |  |   |   | $ | 650 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 61.9 |  | % |   | 64.0 |  | % |   | 61.6 |  | % |   | 62.9 |  | % |
| Effect of catastrophe impacts                         | 0.3 |  |   |   | 0.5 |  |   |   | 1.8 |  |   |   | 0.6 |  |   |
| Effect of development-related items                   | (5.7 | ) |   |   | (11.0 | ) |   |   | (7.6 | ) |   |   | (10.7 | ) |   |
| Loss ratio                                            | 56.5 |  | % |   | 53.5 |  | % |   | 55.8 |  | % |   | 52.8 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Expense ratio                                         | 32.9 |  | % |   | 32.4 |  | % |   | 32.0 |  | % |   | 32.0 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 89.6 |  | % |   | 85.6 |  | % |   | 88.0 |  | % |   | 85.0 |  | % |
| Combined ratio excluding catastrophes and development | 95.0 |  | % |   | 96.1 |  | % |   | 93.8 |  | % |   | 95.1 |  | % |

|         |                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Core income decreased $24 million for the fourth quarter of 2017 as compared with the prior year quarter driven by lower favorable net prior period loss reserve development.  For the full year, core income decreased $40 million. |

|         |                                                                                                                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development decreased 1.1 points as compared with the prior year quarter driven by 2.1 points of improvement in the loss ratio excluding catastrophes and development offset by a slightly higher expense ratio.  For the full year, the combined ratio excluding catastrophes and development decreased 1.3 points. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 4.0 points as compared with the prior year quarter.  Net catastrophe losses were $2 million, or 0.3 points of the loss ratio in the quarter down from $4 million, or 0.5 points of the loss ratio, for the prior year quarter.  Favorable net prior period development improved the loss ratio by 5.7 points in the quarter as compared with an 11.0 point improvement of the loss ratio in the prior year quarter.  For the full year, the combined ratio increased 3.0 points driven by a lower level of favorable development. |

|         |                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------|
| • | Net written premiums were consistent with the prior year quarter and consistent with the prior full year. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 713 |  |   |   | $ | 669 |  |   |   | $ | 2,882 |  |   |   | $ | 2,841 |  |   |
| NWP change (% year over year)                         | 7 |  | % |   | (4 | ) | % |   | 1 |  | % |   | 1 |  | % |
| Core income                                           | $ | 107 |  |   |   | $ | 31 |  |   |   | $ | 341 |  |   |   | $ | 311 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 59.4 |  | % |   | 64.0 |  | % |   | 60.2 |  | % |   | 62.1 |  | % |
| Effect of catastrophe impacts                         | 4.4 |  |   |   | 3.0 |  |   |   | 9.4 |  |   |   | 4.1 |  |   |
| Effect of development-related items                   | (2.1 | ) |   |   | 14.2 |  |   |   | (1.7 | ) |   |   | 2.5 |  |   |
| Loss ratio                                            | 61.7 |  | % |   | 81.2 |  | % |   | 67.9 |  | % |   | 68.7 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Expense ratio                                         | 34.8 |  | % |   | 36.9 |  | % |   | 35.2 |  | % |   | 36.8 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 97.4 |  | % |   | 118.0 |  | % |   | 103.7 |  | % |   | 105.8 |  | % |
| Combined ratio excluding catastrophes and development | 95.1 |  | % |   | 100.8 |  | % |   | 96.0 |  | % |   | 99.2 |  | % |

|         |                                                                                                                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Core income increased $76 million for the fourth quarter of 2017 as compared with the prior year quarter primarily due to significant improvement of net prior period loss reserve development and improved non-catastrophe current accident year underwriting results.  For the full year, core income increased $30 million. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development decreased 5.7 points as compared with the prior year quarter driven by 4.6 points of improvement in the loss ratio excluding catastrophes and development as well as 2.1 points of improvement in the expense ratio due in part to earned premium reductions taken in the prior year quarter, partially offset by an increase in the policyholder dividend ratio.  For the full year, the combined ratio excluding catastrophes and development decreased 3.2 points. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio decreased 20.6 points as compared with the prior year quarter.  Net catastrophe losses were $32 million, or 4.4 points of the loss ratio in the fourth quarter of 2017 compared with $21 million, or 3.0 points of the loss ratio, for the prior year quarter.  Favorable net prior period development improved the loss ratio by 2.1 points in the quarter as compared with a 14.2 point increase of the loss ratio in the prior year quarter.  For the full year, the combined ratio decreased 2.1 points. |

|         |                                                                                                                                                                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased 7% in the quarter, or 2% when adjusted for the unfavorable premium rate adjustment within Small Business in the fourth quarter of 2016.  Growth came from higher new business within Middle Markets, positive renewal premium change and strong retention of 86%.  For the full year, net written premiums grew 1%. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                                          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net written premiums                                  | $ | 217 |  |   |   | $ | 184 |  |   |   | $ | 881 |  |   |   | $ | 821 |  |   |
| NWP change (% year over year)                         | 18 |  | % |   | 2 |  | % |   | 7 |  | % |   | — |  | % |
| Core income                                           | $ | 16 |  |   |   | $ | 22 |  |   |   | $ | 8 |  |   |   | $ | 21 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 61.2 |  | % |   | 59.4 |  | % |   | 61.8 |  | % |   | 64.8 |  | % |
| Effect of catastrophe impacts                         | 1.5 |  |   |   | 1.7 |  |   |   | 7.9 |  |   |   | 3.9 |  |   |
| Effect of development-related items                   | (5.5 | ) |   |   | (12.8 | ) |   |   | (2.7 | ) |   |   | (7.7 | ) |   |
| Loss ratio                                            | 57.2 |  | % |   | 48.3 |  | % |   | 67.0 |  | % |   | 61.0 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Expense ratio                                         | 39.5 |  | % |   | 37.8 |  | % |   | 37.8 |  | % |   | 38.1 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 96.7 |  | % |   | 86.1 |  | % |   | 104.8 |  | % |   | 99.1 |  | % |
| Combined ratio excluding catastrophes and development | 100.7 |  | % |   | 97.2 |  | % |   | 99.6 |  | % |   | 102.9 |  | % |

|         |                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Core income decreased $6 million for the fourth quarter of 2017 as compared with the prior year quarter, primarily due to lower favorable net prior period loss reserve development.  For the full year, core income decreased $13 million. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development increased 3.5 points as compared with the prior year quarter driven by a 1.8 point increase in the loss ratio excluding catastrophes and development and a 1.7 point increase in the expense ratio driven primarily by an accrual for incentive compensation and legal and advisory costs related to Brexit.  For the full year, the combined ratio excluding catastrophes and development decreased 3.3 points. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 10.6 points as compared with the prior year quarter.  Net catastrophe losses were $4 million, or 1.5 points of the loss ratio as compared with $3 million, or 1.7 points of the loss ratio, for the prior year quarter.  Favorable net prior period development improved the loss ratio by 5.5 points in the quarter as compared with a 12.8 point improvement of the loss ratio in the prior year quarter.  For the full year, the combined ratio increased 5.7 points. |

|         |                                                                                                                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net written premiums increased 18% in the quarter, or 13% excluding the effect of foreign currency exchange rates.  This growth was driven by higher new business, retention and renewal premium change.  For the full year, net written premiums grew 7%. |

----

|                          |
|--------------------------|
|                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                     | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)             | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Total operating revenues | $ | 331 |  |   |   | $ | 334 |  |   |   | $ | 1,323 |  |   |   | $ | 1,301 |  |   |
| Net investment income    | 195 |  |   |   | 200 |  |   |   | 782 |  |   |   | 767 |  |   |
| Core income              | 31 |  |   |   | 20 |  |   |   | 50 |  |   |   | 20 |  |   |

|         |                                                                                                                                                                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Core income increased $11 million for the fourth quarter of 2017 as compared with the prior year quarter, driven by a higher release of long term care claim reserves year over year.  For the full year, core income increased $30 million. |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)          | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net investment income | $ | 5 |  |   |   | $ | 5 |  |   |   | $ | 20 |  |   |   | $ | 16 |  |   |
| Interest expense      | 36 |  |   |   | 36 |  |   |   | 152 |  |   |   | 155 |  |   |
| Core loss             | (8 | ) |   |   | (16 | ) |   |   | (90 | ) |   |   | (178 | ) |   |

|         |                                                                                                                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Core loss decreased $8 million for the fourth quarter of 2017 as compared with the prior year quarter driven by a release of unallocated loss adjustment expense reserves in the current year quarter.  For the full year, core loss decreased $88 million. |

----

|         |                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Specialty provides management and professional liability and other coverages through property and casualty products and services using a network of brokers, independent agencies and managing general underwriters. |

|         |                                                                                                                                                                                                                                               |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Commercial works with an independent agency distribution system and a network of brokers to market a broad range of property and casualty insurance products and services to small, middle-market and large businesses and organizations. |

|         |                                                                                                                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | International provides property and casualty insurance and specialty coverages on a global basis through its operations in Canada, the United Kingdom, Continental Europe and Singapore as well as through its presence at Lloyd’s of London. |

|         |                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------|
| • | Life & Group primarily includes the results of the individual and group long term care businesses that are in run off. |

|         |                                                                                                                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Corporate & Other primarily includes certain corporate expenses, including interest on corporate debt, and the results of certain property and casualty business in run-off, including CNA Re and asbestos and environmental pollution. |

|         |                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------|
| • | Loss ratio is the percentage of net incurred claim and claim adjustment expenses to net earned premiums. |

|         |                                                                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Expense ratio is the percentage of insurance underwriting and acquisition expenses, including the amortization of deferred acquisition costs, to net earned premiums. |

|         |                                                                                              |
|---------|----------------------------------------------------------------------------------------------|
| • | Dividend ratio is the ratio of policyholders' dividends incurred to net earned premiums. |

|         |                                                                         |
|---------|-------------------------------------------------------------------------|
| • | Combined ratio is the sum of the loss, expense and dividend ratios. |

|         |                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------|
| • | Renewal premium change represents the estimated change in average premium on policies that renew, including rate and exposure changes. |

|         |                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------|
| • | Rate represents the average change in price on policies that renew excluding exposure change. |

|         |                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Retention represents the percentage of premium dollars renewed in comparison to the expiring premium dollars from policies available to renew. |

|         |                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------|
| • | New business represents premiums from policies written with new customers and additional policies written with existing customers. |

----

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                       | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
| ($ millions)                               | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net income                                 | $ | 223 |  |   | $ | 241 |  |   | $ | 899 |  |   | $ | 859 |  |
| Less: Net realized investment gains        | 20 |  |   | 20 |  |   | 63 |  |   | 35 |  |
| Less: Net deferred tax asset remeasurement | (83 | ) |   | — |  |   | (83 | ) |   | — |  |
| Core income                                | $ | 286 |  |   | $ | 221 |  |   | $ | 919 |  |   | $ | 824 |  |

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                       | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |
|                                       | 2017 |   | 2016 |   | 2017 |   | 2016 |
| Net income per diluted share               | $ | 0.82 |  |   | $ | 0.89 |  |   | $ | 3.30 |  |   | $ | 3.17 |  |
| Less: Net realized investment gains        | 0.08 |  |   | 0.07 |  |   | 0.23 |  |   | 0.13 |  |
| Less: Net deferred tax asset remeasurement | (0.31 | ) |   | — |  |   | (0.31 | ) |   | — |  |
| Core income per diluted share              | $ | 1.05 |  |   | $ | 0.82 |  |   | $ | 3.38 |  |   | $ | 3.04 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                | December 31, 2017 |   | December 31, 2016 |
| Book value per share                | $ | 45.15 |  |   | $ | 44.25 |  |
| Less: Per share impact of AOCI      | 0.13 |  |   | (0.64 | ) |
| Book value per share excluding AOCI | $ | 45.02 |  |   | $ | 44.89 |  |

----

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                            | Results for the Three Months Ended December 31 |   | Results for the Year Ended December 31 |   |
| ($ millions)                                    | 2017 |   | 2016 |   | 2017 |   | 2016 |   |
| Annualized net income                           | $ | 893 |  |   | $ | 967 |  |   | $ | 899 |  |   | $ | 859 |  |   |
| Average stockholders' equity including AOCI (a) | 12,207 |  |   | 12,082 |  |   | 12,106 |  |   | 11,862 |  |   |
| Return on equity                                | 7.3 |  | % | 8.0 |  | % | 7.4 |  | % | 7.2 |  | % |
|                                            |   |   |   |   |   |   |   |   |
| Annualized core income                          | $ | 1,143 |  |   | $ | 887 |  |   | $ | 919 |  |   | $ | 824 |  |   |
| Average stockholders' equity excluding AOCI (a) | 12,136 |  |   | 12,050 |  |   | 12,176 |  |   | 12,106 |  |   |
| Core return on equity                           | 9.4 |  | % | 7.4 |  | % | 7.5 |  | % | 6.8 |  | % |

|     |                                                                                                                        |
|-----|------------------------------------------------------------------------------------------------------------------------|
| (a) | Average stockholders' equity is calculated using a simple average of the beginning and ending balances for the period. |