----

|         |                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Third quarter net income was $213 million versus net income of $107 million in the prior year quarter, and core income was $193 million versus core income of $102 million in the prior year quarter. |
|         |                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Third quarter net and core income includes an LTC GPV charge of $59 million after-tax primarily driven by actions taken on discount rate assumptions. |
|         |                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Third quarter net catastrophe losses were $160 million pretax driven by severe weather related events, primarily Hurricanes Laura, Isaias and Sally, and the Midwest derecho.  No change to COVID-19 catastrophe loss estimate. |
|         |                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The third quarter P&C combined ratio was 100.9% compared with 97.6% in the prior year quarter, including 8.7 points of catastrophe loss impact compared with 1.8 points in the prior year quarter. |
|         |                                                                                                                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The underlying combined ratio was 92.6% compared with 94.6% in the prior year quarter.  The underlying loss ratio was 60.5% compared with 61.7% in the prior year quarter and the expense ratio was 31.8% compared with 32.5% in the prior year quarter. |
|         |                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------|
| • | P&C segments, excluding third party captives, generated gross written premium growth of 9% and net written premium growth of 7%. |
|         |                                                             |
|---------|-------------------------------------------------------------|
| • | P&C rate change increased to +12% in the third quarter. |
|         |                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------|
| • | Net investment income of $517 million pretax includes $71 million of income from LPs and common stock. |
|         |                                                                                     |
|---------|-------------------------------------------------------------------------------------|
| • | Board of Directors declares regular quarterly cash dividend of $0.37 per share. |

----

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions, except per share data) | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Net income                          | $ | 213 |  |   | $ | 107 |  |   | $ | 303 |  |   | $ | 727 |  |
| Core income (a)                     | 193 |  |   | 102 |  |   | 400 |  |   | 714 |  |
|                                |   |   |   |   |   |   |   |
| Net income per diluted share        | $ | 0.79 |  |   | $ | 0.39 |  |   | $ | 1.11 |  |   | $ | 2.67 |  |
| Core income per diluted share       | 0.71 |  |   | 0.37 |  |   | 1.47 |  |   | 2.62 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                | September 30, 2020 |   | December 31, 2019 |
| Book value per share                | $ | 44.30 |  |   | $ | 45.00 |  |
| Book value per share excluding AOCI |   | 42.78 |  |   |   | 44.81 |  |

|     |                                                                                                                                                                                                                                                                  |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | Management utilizes the core income (loss) financial measure to monitor the Company's operations. Please refer herein to the Reconciliation of GAAP Measures to Non-GAAP Measures section of this press release for further discussion of this non-GAAP measure. |

----

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                      | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                                              | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Gross written premiums ex. 3rd party captives        | $ | 2,014 |  |   |   | $ | 1,856 |  |   |   | $ | 6,253 |  |   |   | $ | 5,843 |  |   |
| GWP ex. 3rd party captives change (% year over year) | 9 |  | % |   |   |   |   | 7 |  | % |   |   |   |
| Net written premiums                                      | $ | 1,821 |  |   |   | $ | 1,708 |  |   |   | $ | 5,614 |  |   |   | $ | 5,388 |  |   |
| NWP change (% year over year)                             | 7 |  | % |   |   |   |   | 4 |  | % |   |   |   |
| Net investment income                                     | $ | 306 |  |   |   | $ | 274 |  |   |   | $ | 748 |  |   |   | $ | 937 |  |   |
| Core income                                               | 247 |  |   |   | 241 |  |   |   | 465 |  |   |   | 853 |  |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development         | 60.5 |  | % |   | 61.7 |  | % |   | 60.1 |  | % |   | 61.1 |  | % |
| Effect of catastrophe impacts                             | 8.7 |  |   |   | 1.8 |  |   |   | 10.1 |  |   |   | 2.5 |  |   |
| Effect of development-related items                       | (0.4 | ) |   |   | 1.2 |  |   |   | 0.1 |  |   |   | (0.2 | ) |   |
| Loss ratio                                                | 68.8 |  | % |   | 64.7 |  | % |   | 70.3 |  | % |   | 63.4 |  | % |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Expense ratio                                             | 31.8 |  | % |   | 32.5 |  | % |   | 32.9 |  | % |   | 33.3 |  | % |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                            | 100.9 |  | % |   | 97.6 |  | % |   | 103.5 |  | % |   | 97.1 |  | % |
| Combined ratio excluding catastrophes and development     | 92.6 |  | % |   | 94.6 |  | % |   | 93.3 |  | % |   | 94.8 |  | % |

|         |                                                                                                                                                                                                                                                                                                                                                                                         |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development improved 2.0 points as compared with the prior year quarter.  The underlying loss ratio improved 1.2 points primarily due to lower large losses in the International segment.  The expense ratio improved 0.7 points driven by higher net earned premiums and lower underwriting expenses in the current quarter. |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 3.3 points as compared with the prior year quarter.  Net catastrophe losses were $160 million, or 8.7 points of the loss ratio in the third quarter of 2020, compared with $32 million, or 1.8 points of the loss ratio, for the prior year quarter.  Net catastrophe losses in the third quarter of 2020 were driven by severe weather related events, primarily Hurricanes Laura, Isaias and Sally, and the Midwest derecho.  Favorable net prior period development improved the loss ratio by 0.4 points in the quarter compared with 1.2 points of unfavorable development increasing the loss ratio in the prior year quarter. |
|         |                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | P&C segments, excluding third party captives, generated gross written premium growth of 9% and net written premium growth of 7% driven by higher rate and new business. |

----

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                      | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                                              | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Gross written premiums ex. 3rd party captives        | $ | 861 |  |   |   | $ | 778 |  |   |   | $ | 2,413 |  |   |   | $ | 2,263 |  |   |
| GWP ex. 3rd party captives change (% year over year) | 11 |  | % |   |   |   |   | 7 |  | % |   |   |   |
| Net written premiums                                      | $ | 795 |  |   |   | $ | 732 |  |   |   | $ | 2,231 |  |   |   | $ | 2,143 |  |   |
| NWP change (% year over year)                             | 9 |  | % |   |   |   |   | 4 |  | % |   |   |   |
| Core income                                               | $ | 168 |  |   |   | $ | 153 |  |   |   | $ | 354 |  |   |   | $ | 483 |  |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development         | 60.0 |  | % |   | 60.1 |  | % |   | 59.8 |  | % |   | 60.2 |  | % |
| Effect of catastrophe impacts                             | 1.0 |  |   |   | 0.5 |  |   |   | 5.7 |  |   |   | 0.8 |  |   |
| Effect of development-related items                       | (2.0 | ) |   |   | (2.8 | ) |   |   | (2.1 | ) |   |   | (2.9 | ) |   |
| Loss ratio                                                | 59.0 |  | % |   | 57.8 |  | % |   | 63.4 |  | % |   | 58.1 |  | % |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Expense ratio                                             | 30.5 |  | % |   | 31.8 |  | % |   | 31.5 |  | % |   | 32.6 |  | % |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                            | 89.5 |  | % |   | 89.8 |  | % |   | 95.0 |  | % |   | 90.9 |  | % |
| Combined ratio excluding catastrophes and development     | 90.5 |  | % |   | 92.1 |  | % |   | 91.4 |  | % |   | 93.0 |  | % |

|         |                                                                                                                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development improved 1.6 points as compared with the prior year quarter primarily due to a 1.3 point improvement in the expense ratio driven by lower underwriting expenses and higher net earned premiums.  The underlying loss ratio improved 0.1 points. |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio improved 0.3 points as compared with the prior year quarter.  Net catastrophe losses were $7 million, or 1.0 point of the loss ratio in the third quarter of 2020, compared with $3 million, or 0.5 points of the loss ratio, for the prior year quarter.  Favorable net prior period development improved the loss ratio by 2.0 points in the quarter compared with a 2.8 point improvement in the prior year quarter. |
|         |                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Gross written premiums, excluding third party captives, grew 11% and net written premiums grew 9% for the third quarter of 2020 driven by strong rate and higher new business. |

----

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                      | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                                              | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Gross written premiums ex. 3rd party captives        | $ | 915 |  |   |   | $ | 852 |  |   |   | $ | 3,018 |  |   |   | $ | 2,742 |  |   |
| GWP ex. 3rd party captives change (% year over year) | 7 |  | % |   |   |   |   | 10 |  | % |   |   |   |
| Net written premiums                                      | $ | 804 |  |   |   | $ | 775 |  |   |   | $ | 2,703 |  |   |   | $ | 2,536 |  |   |
| NWP change (% year over year)                             | 4 |  | % |   |   |   |   | 7 |  | % |   |   |   |
| Core income                                               | $ | 52 |  |   |   | $ | 97 |  |   |   | $ | 96 |  |   |   | $ | 356 |  |   |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development         | 61.0 |  | % |   | 61.5 |  | % |   | 60.4 |  | % |   | 61.8 |  | % |
| Effect of catastrophe impacts                             | 17.0 |  |   |   | 3.0 |  |   |   | 14.3 |  |   |   | 4.3 |  |   |
| Effect of development-related items                       | 0.6 |  |   |   | 4.8 |  |   |   | 2.1 |  |   |   | 1.5 |  |   |
| Loss ratio                                                | 78.6 |  | % |   | 69.3 |  | % |   | 76.8 |  | % |   | 67.6 |  | % |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Expense ratio                                             | 32.3 |  | % |   | 31.7 |  | % |   | 33.2 |  | % |   | 32.7 |  | % |
|                                                      |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                            | 111.5 |  | % |   | 101.6 |  | % |   | 110.6 |  | % |   | 100.9 |  | % |
| Combined ratio excluding catastrophes and development     | 93.9 |  | % |   | 93.8 |  | % |   | 94.2 |  | % |   | 95.1 |  | % |

|         |                                                                                                                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development increased 0.1 points as compared with the prior year quarter.  The expense ratio increased 0.6 points driven by higher acquisition expenses partially offset by higher net earned premiums.  This was partially offset by a 0.5 point improvement in the underlying loss ratio. |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio increased 9.9 points as compared with the prior year quarter.  Net catastrophe losses were $146 million, or 17.0 points of the loss ratio in the third quarter of 2020, compared with $25 million, or 3.0 points of the loss ratio, for the prior year quarter.  Unfavorable net prior period development increased the loss ratio by 0.6 points in the quarter compared with 4.8 points of unfavorable impact in the prior year quarter. |
|         |                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Gross written premiums, excluding third party captives, grew 7% and net written premiums grew 4% for the third quarter of 2020 driven by strong rate. |

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                                          | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Gross written premiums                                | $ | 238 |  |   |   | $ | 226 |  |   |   | $ | 822 |  |   |   | $ | 837 |  |   |
| GWP change (% year over year)                         | 5 |  | % |   |   |   |   | (2 | ) | % |   |   |   |
| Net written premiums                                  | $ | 222 |  |   |   | $ | 201 |  |   |   | $ | 680 |  |   |   | $ | 709 |  |   |
| NWP change (% year over year)                         | 10 |  | % |   |   |   |   | (4 | ) | % |   |   |   |
| Core income (loss)                                    | $ | 27 |  |   |   | $ | (9 | ) |   |   | $ | 15 |  |   |   | $ | 14 |  |   |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Loss ratio excluding catastrophes and development     | 60.1 |  | % |   | 67.3 |  | % |   | 60.1 |  | % |   | 61.4 |  | % |
| Effect of catastrophe impacts                         | 3.0 |  |   |   | 1.7 |  |   |   | 8.9 |  |   |   | 1.4 |  |   |
| Effect of development-related items                   | 0.1 |  |   |   | 0.4 |  |   |   | (0.4 | ) |   |   | 1.9 |  |   |
| Loss ratio                                            | 63.2 |  | % |   | 69.4 |  | % |   | 68.6 |  | % |   | 64.7 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Expense ratio                                         | 34.9 |  | % |   | 38.0 |  | % |   | 35.6 |  | % |   | 37.5 |  | % |
|                                                  |   |   |   |   |   |   |   |   |   |   |   |
| Combined ratio                                        | 98.1 |  | % |   | 107.4 |  | % |   | 104.2 |  | % |   | 102.2 |  | % |
| Combined ratio excluding catastrophes and development | 95.0 |  | % |   | 105.3 |  | % |   | 95.7 |  | % |   | 98.9 |  | % |

|         |                                                                                                                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio excluding catastrophes and development improved 10.3 points as compared with the prior year quarter.  The underlying loss ratio improved 7.2 points primarily due to lower large losses.  The expense ratio improved 3.1 points driven by lower acquisition and underwriting expenses. |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The combined ratio improved 9.3 points for the third quarter of 2020 as compared with the prior year quarter.  Net catastrophe losses were $7 million, or 3.0 points of the loss ratio in the third quarter of 2020, compared with $4 million, or 1.7 points of the loss ratio, for the prior year quarter.  Unfavorable net prior year development increased the loss ratio by 0.1 points in the quarter compared with 0.4 points in the prior year quarter. |
|         |                                                                                                                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Excluding currency fluctuations, gross written premiums increased 4% and net written premiums increased 9% for the third quarter of 2020 driven by growth in Europe and Canada partially offset by the continued impact of the strategic exit from certain Lloyd’s business classes. |

----

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)          | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Net earned premiums   | $ | 127 |  |   |   | $ | 130 |  |   |   | $ | 380 |  |   |   | $ | 390 |  |   |
| Net investment income | 208 |  |   |   | 207 |  |   |   | 622 |  |   |   | 616 |  |   |
| Core loss             | (35 | ) |   |   | (122 | ) |   |   | (17 | ) |   |   | (105 | ) |   |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                  | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)          | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Net investment income | $ | 3 |  |   |   | $ | 6 |  |   |   | $ | 10 |  |   |   | $ | 20 |  |   |
| Interest expense      | 32 |  |   |   | 31 |  |   |   | 94 |  |   |   | 99 |  |   |
| Core loss             | (19 | ) |   |   | (17 | ) |   |   | (48 | ) |   |   | (34 | ) |   |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
|                             | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Pretax net investment income     | $ | 517 |  |   |   | $ | 487 |  |   |   | $ | 1,380 |  |   |   | $ | 1,573 |  |   |
| Net investment income, after tax | 421 |  |   |   | 399 |  |   |   | 1,130 |  |   |   | 1,284 |  |   |

----

|                           |
|---------------------------|
|                           |  |  |
| Media:                    |   | Analysts: |
| Cara McCall, 312-822-1309 |   | Amy C. Adams, 312-822-5533 |

|         |                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | 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 a network of brokers and independent agents to market a broad range of property and casualty insurance products and services to small, middle-market and large businesses. |
|         |                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | International underwrites property and casualty coverages on a global basis through two insurance companies based in the U.K. and Luxembourg, a branch operation in Canada as well as through our Lloyd's Syndicate. |
|         |                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------|
| • | 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 (A&EP). |
|         |                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------|
| • | Loss ratio is the percentage of net incurred claim and claim adjustment expenses to net earned premiums. |
|         |                                                                                             |
|---------|---------------------------------------------------------------------------------------------|
| • | Underlying loss ratio represents the loss ratio excluding catastrophes and development. |
|         |                                                                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | 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. |
|         |                                                                                               |
|---------|-----------------------------------------------------------------------------------------------|
| • | Underlying combined ratio is the sum of the underlying 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.  For certain products within Small Business, where quantifiable, rate includes the influence of new business as well. |
|         |                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------|
| • | 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 September 30 |   | Results for the Nine Months Ended September 30 |
| ($ millions)                        | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Net income                          | $ | 213 |  |   | $ | 107 |  |   | $ | 303 |  |   | $ | 727 |  |
| Less: Net investment gains (losses) | 20 |  |   | 5 |  |   | (97 | ) |   | 13 |  |
| Core income                         | $ | 193 |  |   | $ | 102 |  |   | $ | 400 |  |   | $ | 714 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |
|                                | 2020 |   | 2019 |   | 2020 |   | 2019 |
| Net income per diluted share        | $ | 0.79 |  |   | $ | 0.39 |  |   | $ | 1.11 |  |   | $ | 2.67 |  |
| Less: Net investment gains (losses) | 0.08 |  |   | 0.02 |  |   | (0.36 | ) |   | 0.05 |  |
| Core income per diluted share       | $ | 0.71 |  |   | $ | 0.37 |  |   | $ | 1.47 |  |   | $ | 2.62 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                | September 30, 2020 |   | December 31, 2019 |
| Book value per share                | $ | 44.30 |  |   | $ | 45.00 |  |
| Less: Per share impact of AOCI      | 1.52 |  |   | 0.19 |  |
| Book value per share excluding AOCI | $ | 42.78 |  |   | $ | 44.81 |  |

----

|                                                 |
|-------------------------------------------------|
|                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                            | Results for the Three Months Ended September 30 |   | Results for the Nine Months Ended September 30 |   |
| ($ millions)                                    | 2020 |   | 2019 |   | 2020 |   | 2019 |   |
| Annualized net income                           | $ | 855 |  |   | $ | 428 |  |   | $ | 405 |  |   | $ | 970 |  |   |
| Average stockholders' equity including AOCI (a) | 11,833 |  |   | 12,105 |  |   | 12,118 |  |   | 11,670 |  |   |
| Return on equity                                | 7.2 |  | % | 3.5 |  | % | 3.3 |  | % | 8.3 |  | % |
|                                            |   |   |   |   |   |   |   |   |
| Annualized core income                          | $ | 772 |  |   | $ | 406 |  |   | $ | 533 |  |   | $ | 952 |  |   |
| Average stockholders' equity excluding AOCI (a) | 11,550 |  |   | 11,975 |  |   | 11,887 |  |   | 12,039 |  |   |
| Core return on equity                           | 6.7 |  | % | 3.4 |  | % | 4.5 |  | % | 7.9 |  | % |

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