|  |  |                                                                                                                                                                                                                                                                                                                                   |  |  |  |  |  |  |
|--|--|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|--|
|  |  | The Cincinnati Insurance Company nThe Cincinnati Indemnity CompanyThe Cincinnati Casualty CompanynThe Cincinnati Specialty Underwriters Insurance CompanyThe Cincinnati Life Insurance CompanynCFC Investment CompanynCSU Producer Resources Inc.Cincinnati Global Underwriting Ltd. n Cincinnati Global Underwriting Agency Ltd. |

|                                                               |                                 |                                  |             |  |             |   |             |    |             |             |          |   |             |  |  |     |             |  |  |     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------|---------------------------------|----------------------------------|-------------|--|-------------|---|-------------|----|-------------|-------------|----------|---|-------------|--|--|-----|-------------|--|--|-----|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (Dollars in millions except per share data)                   | Three months ended December 31, | Twelve months ended December 31, |
|                                                               | 2021                            |                                  | 2020        |  | % Change    |   | 2021        |    | 2020        |             | % Change |
| Revenue Data                                                  |                                 |                                  |             |  |             |   |             |    |             |             |          |   |
|    Earned premiums                             |                            | $                                | 1,676  |  |             | $ | 1,520  |    |             | 10          |          | $ | 6,482  |  |  | $   | 5,980  |  |  | 8   |
|    Investment income, net of expenses          |                                 | 186                         |             |  | 172    |   |             | 8  |             | 714    |          |   | 670    |  |  | 7   |
|    Total revenues                              |                                 | 3,323                       |             |  | 2,694  |   |             | 23 |             | 9,630  |          |   | 7,536  |  |  | 28  |
| Income Statement Data                                         |                                 |                                  |             |  |             |   |             |    |             |             |          |   |
|    Net income                                  |                            | $                                | 1,470  |  |             | $ | 1,049  |    |             | 40          |          | $ | 2,946  |  |  | $   | 1,216  |  |  | 142 |
|    Investment gains and losses, after-tax      |                                 | 1,150                       |             |  | 787    |   |             | 46 |             | 1,903  |          |   | 683    |  |  | 179 |
|                                                               |                                 |                                  |             |  |             |   |             |    |             |             |          |   |
|    Non-GAAP operating income*                  |                            | $                                | 320    |  |             | $ | 262    |    |             | 22          |          | $ | 1,043  |  |  | $   | 533    |  |  | 96  |
| Per Share Data (diluted)                                      |                                 |                                  |             |  |             |   |             |    |             |             |          |   |
|    Net income                                  |                            | $                                | 9.04   |  |             | $ | 6.47   |    |             | 40          |          | $ | 18.10  |  |  | $   | 7.49   |  |  | 142 |
|    Investment gains and losses, after-tax      |                                 | 7.07                        |             |  | 4.86   |   |             | 45 |             | 11.69  |          |   | 4.21   |  |  | 178 |
|                                                               |                                 |                                  |             |  |             |   |             |    |             |             |          |   |
|    Non-GAAP operating income*                  |                            | $                                | 1.97   |  |             | $ | 1.61   |    |             | 22          |          | $ | 6.41   |  |  | $   | 3.28   |  |  | 95  |
|                                                               |                                 |                                  |             |  |             |   |             |    |             |             |          |   |
|    Book value                                  |                                 |                                  |             |  |             |   |             | $  | 81.72  |             |          | $ | 67.04  |  |  | 22  |
|    Cash dividend declared                      |                                 | $                                | 0.63   |  |             | $ | 0.60   |    |             | 5           |          | $ | 2.52   |  |  | $   | 2.40   |  |  | 5   |
|    Diluted weighted average shares outstanding |                                 | 162.5                       |             |  | 162.1  |   |             | 0  |             | 162.7  |          |   | 162.4  |  |  | 0   |

----

----

|                                                                                               |                                 |             |                                  |      |             |            |             |       |  |             |   |            |             |   |  |       |             |  |  |     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------------|---------------------------------|-------------|----------------------------------|------|-------------|------------|-------------|-------|--|-------------|---|------------|-------------|---|--|-------|-------------|--|--|-----|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (Dollars in millions)                                                                         | Three months ended December 31, |             | Twelve months ended December 31, |
|                                                                                               |                                 | 2021        |                                  | 2020 |             | % Change   |             | 2021  |  | 2020        |   | % Change   |
| Earned premiums                                                                               |                            | $           | 1,599                       |      |             | $          | 1,449  |       |  | 10          |   | $          | 6,184  |   |  | $     | 5,691  |  |  | 9   |
| Fee revenues                                                                                  |                                 | 2      |                                  |      | 2      |            |             | 0     |  | 10     |   |            | 9      |   |  | 11    |
|    Total revenues                                                              |                                 | 1,601  |                                  |      | 1,451  |            |             | 10    |  | 6,194  |   |            | 5,700  |   |  | 9     |
|                                                                                               |                                 |             |                                  |      |             |            |             |       |  |             |   |            |
| Loss and loss expenses                                                                        |                                 | 855    |                                  |      | 829    |            |             | 3     |  | 3,596  |   |            | 3,837  |   |  | (6)   |
| Underwriting expenses                                                                         |                                 | 490    |                                  |      | 435    |            |             | 13    |  | 1,867  |   |            | 1,744  |   |  | 7     |
|    Underwriting profit                                                         |                            | $           | 256                         |      |             | $          | 187    |       |  | 37          |   | $          | 731    |   |  | $     | 119    |  |  | 514 |
|                                                                                               |                                 |             |                                  |      |             |            |             |       |  |             |   |            |
| Ratios as a percent of earned premiums:                                                   |                                 |             |                                  |      |             | Pt. Change |             |       |  |             |   | Pt. Change |
|      Loss and loss expenses                                          |                                 | 53.5   | %                                |      | 57.3   | %          |             | (3.8) |  | 58.1   | % |            | 67.4   | % |  | (9.3) |
|      Underwriting expenses                                           |                                 | 30.7   |                                  |      | 30.0   |            |             | 0.7   |  | 30.2   |   |            | 30.7   |   |  | (0.5) |
|            Combined ratio              |                                 | 84.2   | %                                |      | 87.3   | %          |             | (3.1) |  | 88.3   | % |            | 98.1   | % |  | (9.8) |
|                                                                                               |                                 |             |                                  |      |             |            |             |       |  |             |   |            |
|                                                                                               |                                 |             |                                  |      |             | % Change   |        |       |  |             |   | % Change   |
| Agency renewal written premiums                                                               |                            | $           | 1,238                       |      |             | $          | 1,145  |       |  | 8           |   | $          | 5,091  |   |  | $     | 4,740  |  |  | 7   |
| Agency new business written premiums                                                          |                                 | 212    |                                  |      | 185    |            |             | 15    |  | 897    |   |            | 799    |   |  | 12    |
| Other written premiums                                                                        |                                 | 84     |                                  |      | 64     |            |             | 31    |  | 491    |   |            | 325    |   |  | 51    |
|    Net written premiums                                                        |                            | $           | 1,534                       |      |             | $          | 1,394  |       |  | 10          |   | $          | 6,479  |   |  | $     | 5,864  |  |  | 10  |
|                                                                                               |                                 |             |                                  |      |             |            |             |       |  |             |   |            |
| Ratios as a percent of earned premiums:                                                   |                                 |             |                                  |      |             | Pt. Change |        |       |  |             |   | Pt. Change |
|      Current accident year before catastrophe losses                 |                                 | 54.9   | %                                |      | 54.4   | %          |             | 0.5   |  | 56.0   | % |            | 57.0   | % |  | (1.0) |
|      Current accident year catastrophe losses                        |                                 | 4.6    |                                  |      | 5.7    |            |             | (1.1) |  | 9.1    |   |            | 12.7   |   |  | (3.6) |
|      Prior accident years before catastrophe losses                  |                                 | (5.0)       |                                  |      | (1.8)       |            |             | (3.2) |  | (5.9)       |   |            | (1.7)       |   |  | (4.2) |
|      Prior accident years catastrophe losses                         |                                 | (1.0)       |                                  |      | (1.0)       |            |             | 0.0   |  | (1.1)       |   |            | (0.6)       |   |  | (0.5) |
|            Loss and loss expense ratio |                                 | 53.5   | %                                |      | 57.3   | %          |             | (3.8) |  | 58.1   | % |            | 67.4   | % |  | (9.3) |
|                                                                                               |                                 |             |                                  |      |             |            |             |       |  |             |   |            |
| Current accident year combined ratio before                                                   |                                 |             |                                  |      |             |            |             |       |  |             |   |            |
|   catastrophe losses                                                                |                                 | 85.6   | %                                |      | 84.4   | %          |             | 1.2   |  | 86.2   | % |            | 87.7   | % |  | (1.5) |
|                                                                                               |                                 |             |                                  |      |             |            |             |       |  |             |   |            |

----

|                                                                                               |                                 |            |                                  |      |               |            |           |       |  |             |   |            |             |   |  |        |             |  |  |     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------------|---------------------------------|------------|----------------------------------|------|---------------|------------|-----------|-------|--|-------------|---|------------|-------------|---|--|--------|-------------|--|--|-----|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (Dollars in millions)                                                                         | Three months ended December 31, |            | Twelve months ended December 31, |
|                                                                                               |                                 | 2021       |                                  | 2020 |               | % Change   |           | 2021  |  | 2020        |   | % Change   |
| Earned premiums                                                                               |                            | $          | 947                         |      |               | $          | 878  |       |  | 8           |   | $          | 3,674  |   |  | $      | 3,476  |  |  | 6   |
| Fee revenues                                                                                  |                                 | 1     |                                  |      | —  |            |           | nm    |  | 4      |   |            | 3      |   |  | 33     |
|    Total revenues                                                              |                                 | 948   |                                  |      | 878      |            |           | 8     |  | 3,678  |   |            | 3,479  |   |  | 6      |
|                                                                                               |                                 |            |                                  |      |               |            |           |       |  |             |   |            |
| Loss and loss expenses                                                                        |                                 | 506   |                                  |      | 512      |            |           | (1)   |  | 1,940  |   |            | 2,336  |   |  | (17)   |
| Underwriting expenses                                                                         |                                 | 301   |                                  |      | 270      |            |           | 11    |  | 1,140  |   |            | 1,079  |   |  | 6      |
|    Underwriting profit                                                         |                            | $          | 141                         |      |               | $          | 96   |       |  | 47          |   | $          | 598    |   |  | $      | 64     |  |  | 834 |
|                                                                                               |                                 |            |                                  |      |               |            |           |       |  |             |   |            |
| Ratios as a percent of earned premiums:                                                   |                                 |            |                                  |      |               | Pt. Change |           |       |  |             |   | Pt. Change |
|      Loss and loss expenses                                          |                                 | 53.4  | %                                |      | 58.4     | %          |           | (5.0) |  | 52.8   | % |            | 67.3   | % |  | (14.5) |
|      Underwriting expenses                                           |                                 | 31.8  |                                  |      | 30.8     |            |           | 1.0   |  | 31.0   |   |            | 31.0   |   |  | 0.0    |
|            Combined ratio              |                                 | 85.2  | %                                |      | 89.2     | %          |           | (4.0) |  | 83.8   | % |            | 98.3   | % |  | (14.5) |
|                                                                                               |                                 |            |                                  |      |               |            |           |       |  |             |   |            |
|                                                                                               |                                 |            |                                  |      |               | % Change   |           |       |  |             |   | % Change   |
| Agency renewal written premiums                                                               |                                 | $          | 809                         |      |               | $          | 759  |       |  | 7           |   | $          | 3,334  |   |  | $      | 3,122  |  |  | 7   |
| Agency new business written premiums                                                          |                                 | 135   |                                  |      | 113      |            |           | 19    |  | 571    |   |            | 515    |   |  | 11     |
| Other written premiums                                                                        |                                 | (24)       |                                  |      | (32)          |            |           | 25    |  | (94)        |   |            | (103)       |   |  | 9      |
|    Net written premiums                                                        |                                 | $          | 920                         |      |               | $          | 840  |       |  | 10          |   | $          | 3,811  |   |  | $      | 3,534  |  |  | 8   |
|                                                                                               |                                 |            |                                  |      |               |            |           |       |  |             |   |            |
| Ratios as a percent of earned premiums:                                                   |                                 |            |                                  |      |               | Pt. Change |           |       |  |             |   | Pt. Change |
|      Current accident year before catastrophe losses                 |                                 | 57.5  | %                                |      | 58.8     | %          |           | (1.3) |  | 57.8   | % |            | 59.2   | % |  | (1.4)  |
|      Current accident year catastrophe losses                        |                                 | 4.0   |                                  |      | 3.8      |            |           | 0.2   |  | 4.6    |   |            | 10.8   |   |  | (6.2)  |
|      Prior accident years before catastrophe losses                  |                                 | (6.8)      |                                  |      | (3.5)         |            |           | (3.3) |  | (8.4)       |   |            | (2.3)       |   |  | (6.1)  |
|      Prior accident years catastrophe losses                         |                                 | (1.3)      |                                  |      | (0.7)         |            |           | (0.6) |  | (1.2)       |   |            | (0.4)       |   |  | (0.8)  |
|            Loss and loss expense ratio |                                 | 53.4  | %                                |      | 58.4     | %          |           | (5.0) |  | 52.8   | % |            | 67.3   | % |  | (14.5) |
|                                                                                               |                                 |            |                                  |      |               |            |           |       |  |             |   |            |
| Current accident year combined ratio before                                                   |                                 |            |                                  |      |               |            |           |       |  |             |   |            |
|   catastrophe losses                                                                |                                 | 89.3  | %                                |      | 89.6     | %          |           | (0.3) |  | 88.8   | % |            | 90.2   | % |  | (1.4)  |
|                                                                                               |                                 |            |                                  |      |               |            |           |       |  |             |   |            |

----

|                                                                                               |                                 |            |                                  |      |            |            |           |       |  |             |   |            |             |   |  |       |             |  |  |     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------------|---------------------------------|------------|----------------------------------|------|------------|------------|-----------|-------|--|-------------|---|------------|-------------|---|--|-------|-------------|--|--|-----|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (Dollars in millions)                                                                         | Three months ended December 31, |            | Twelve months ended December 31, |
|                                                                                               |                                 | 2021       |                                  | 2020 |            | % Change   |           | 2021  |  | 2020        |   | % Change   |
| Earned premiums                                                                               |                            | $          | 396                         |      |            | $          | 373  |       |  | 6           |   | $          | 1,542  |   |  | $     | 1,463  |  |  | 5   |
| Fee revenues                                                                                  |                                 | 1     |                                  |      | 1     |            |           | 0     |  | 4      |   |            | 4      |   |  | 0     |
|    Total revenues                                                              |                                 | 397   |                                  |      | 374   |            |           | 6     |  | 1,546  |   |            | 1,467  |   |  | 5     |
|                                                                                               |                                 |            |                                  |      |            |            |           |       |  |             |   |            |
| Loss and loss expenses                                                                        |                                 | 197   |                                  |      | 195   |            |           | 1     |  | 992    |   |            | 977    |   |  | 2     |
| Underwriting expenses                                                                         |                                 | 119   |                                  |      | 108   |            |           | 10    |  | 457    |   |            | 443    |   |  | 3     |
|    Underwriting profit                                                         |                            | $          | 81                          |      |            | $          | 71   |       |  | 14          |   | $          | 97     |   |  | $     | 47     |  |  | 106 |
|                                                                                               |                                 |            |                                  |      |            |            |           |       |  |             |   |            |
| Ratios as a percent of earned premiums:                                                   |                                 |            |                                  |      |            | Pt. Change |           |       |  |             |   | Pt. Change |
|      Loss and loss expenses                                          |                                 | 49.9  | %                                |      | 52.3  | %          |           | (2.4) |  | 64.3   | % |            | 66.8   | % |  | (2.5) |
|      Underwriting expenses                                           |                                 | 30.1  |                                  |      | 29.0  |            |           | 1.1   |  | 29.7   |   |            | 30.3   |   |  | (0.6) |
|            Combined ratio              |                                 | 80.0  | %                                |      | 81.3  | %          |           | (1.3) |  | 94.0   | % |            | 97.1   | % |  | (3.1) |
|                                                                                               |                                 |            |                                  |      |            |            |           |       |  |             |   |            |
|                                                                                               |                                 |            |                                  |      |            | % Change   |           |       |  |             |   | % Change   |
| Agency renewal written premiums                                                               |                                 | $          | 342                         |      |            | $          | 317  |       |  | 8           |   | $          | 1,434  |   |  | $     | 1,364  |  |  | 5   |
| Agency new business written premiums                                                          |                                 | 50    |                                  |      | 45    |            |           | 11    |  | 202    |   |            | 174    |   |  | 16    |
| Other written premiums                                                                        |                                 | (10)       |                                  |      | (8)        |            |           | (25)  |  | (42)        |   |            | (35)        |   |  | (20)  |
|    Net written premiums                                                        |                            | $          | 382                         |      |            | $          | 354  |       |  | 8           |   | $          | 1,594  |   |  | $     | 1,503  |  |  | 6   |
|                                                                                               |                                 |            |                                  |      |            |            |           |       |  |             |   |            |
| Ratios as a percent of earned premiums:                                                   |                                 |            |                                  |      |            | Pt. Change |           |       |  |             |   | Pt. Change |
|      Current accident year before catastrophe losses                 |                                 | 48.4  | %                                |      | 46.3  | %          |           | 2.1   |  | 53.4   | % |            | 52.1   | % |  | 1.3   |
|      Current accident year catastrophe losses                        |                                 | 5.3   |                                  |      | 3.4   |            |           | 1.9   |  | 14.2   |   |            | 16.0   |   |  | (1.8) |
|      Prior accident years before catastrophe losses                  |                                 | (3.1)      |                                  |      | 2.6   |            |           | (5.7) |  | (2.8)       |   |            | (0.7)       |   |  | (2.1) |
|      Prior accident years catastrophe losses                         |                                 | (0.7)      |                                  |      | 0.0   |            |           | (0.7) |  | (0.5)       |   |            | (0.6)       |   |  | 0.1   |
|            Loss and loss expense ratio |                                 | 49.9  | %                                |      | 52.3  | %          |           | (2.4) |  | 64.3   | % |            | 66.8   | % |  | (2.5) |
|                                                                                               |                                 |            |                                  |      |            |            |           |       |  |             |   |            |
| Current accident year combined ratio before                                                   |                                 |            |                                  |      |            |            |           |       |  |             |   |            |
|   catastrophe losses                                                                |                                 | 78.5  | %                                |      | 75.3  | %          |           | 3.2   |  | 83.1   | % |            | 82.4   | % |  | 0.7   |
|                                                                                               |                                 |            |                                  |      |            |            |           |       |  |             |   |            |

----

|                                                                                               |                                 |               |                                  |      |            |            |          |       |  |            |   |            |            |   |  |       |           |  |  |    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------------------------------------------------------------|---------------------------------|---------------|----------------------------------|------|------------|------------|----------|-------|--|------------|---|------------|------------|---|--|-------|-----------|--|--|----|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (Dollars in millions)                                                                         | Three months ended December 31, |               | Twelve months ended December 31, |
|                                                                                               |                                 | 2021          |                                  | 2020 |            | % Change   |          | 2021  |  | 2020       |   | % Change   |
| Earned premiums                                                                               |                                 | $             | 109                         |      |            | $          | 87  |       |  | 25         |   | $          | 398   |   |  | $     | 325  |  |  | 22 |
| Fee revenues                                                                                  |                                 | —  |                                  |      | 1     |            |          | (100) |  | 2     |   |            | 2     |   |  | 0     |
|    Total revenues                                                              |                                 | 109      |                                  |      | 88    |            |          | 24    |  | 400   |   |            | 327   |   |  | 22    |
|                                                                                               |                                 |               |                                  |      |            |            |          |       |  |            |   |            |
| Loss and loss expenses                                                                        |                                 | 63       |                                  |      | 49    |            |          | 29    |  | 250   |   |            | 199   |   |  | 26    |
| Underwriting expenses                                                                         |                                 | 27       |                                  |      | 24    |            |          | 13    |  | 106   |   |            | 94    |   |  | 13    |
|    Underwriting profit                                                         |                                 | $             | 19                          |      |            | $          | 15  |       |  | 27         |   | $          | 44    |   |  | $     | 34   |  |  | 29 |
|                                                                                               |                                 |               |                                  |      |            |            |          |       |  |            |   |            |
| Ratios as a percent of earned premiums:                                                   |                                 |               |                                  |      |            | Pt. Change |          |       |  |            |   | Pt. Change |
|      Loss and loss expenses                                          |                                 | 58.1     | %                                |      | 56.6  | %          |          | 1.5   |  | 62.8  | % |            | 61.3  | % |  | 1.5   |
|      Underwriting expenses                                           |                                 | 25.1     |                                  |      | 26.6  |            |          | (1.5) |  | 26.7  |   |            | 28.7  |   |  | (2.0) |
|            Combined ratio              |                                 | 83.2     | %                                |      | 83.2  | %          |          | 0.0   |  | 89.5  | % |            | 90.0  | % |  | (0.5) |
|                                                                                               |                                 |               |                                  |      |            |            |          |       |  |            |   |            |
|                                                                                               |                                 |               |                                  |      |            | % Change   |          |       |  |            |   | % Change   |
| Agency renewal written premiums                                                               |                            | $             | 87                          |      |            | $          | 69  |       |  | 26         |   | $          | 323   |   |  | $     | 254  |  |  | 27 |
| Agency new business written premiums                                                          |                                 | 27       |                                  |      | 27    |            |          | 0     |  | 124   |   |            | 110   |   |  | 13    |
| Other written premiums                                                                        |                                 | (6)           |                                  |      | (4)        |            |          | (50)  |  | (21)       |   |            | (16)       |   |  | (31)  |
|    Net written premiums                                                        |                            | $             | 108                         |      |            | $          | 92  |       |  | 17         |   | $          | 426   |   |  | $     | 348  |  |  | 22 |
|                                                                                               |                                 |               |                                  |      |            |            |          |       |  |            |   |            |
| Ratios as a percent of earned premiums:                                                   |                                 |               |                                  |      |            | Pt. Change |          |       |  |            |   | Pt. Change |
|      Current accident year before catastrophe losses                 |                                 | 56.0     | %                                |      | 57.6  | %          |          | (1.6) |  | 60.3  | % |            | 57.7  | % |  | 2.6   |
|      Current accident year catastrophe losses                        |                                 | 0.6      |                                  |      | 0.4   |            |          | 0.2   |  | 0.6   |   |            | 1.3   |   |  | (0.7) |
|      Prior accident years before catastrophe losses                  |                                 | 1.2      |                                  |      | (1.5)      |            |          | 2.7   |  | 1.9   |   |            | 2.1   |   |  | (0.2) |
|      Prior accident years catastrophe losses                         |                                 | 0.3      |                                  |      | 0.1   |            |          | 0.2   |  | 0.0   |   |            | 0.2   |   |  | (0.2) |
|            Loss and loss expense ratio |                                 | 58.1     | %                                |      | 56.6  | %          |          | 1.5   |  | 62.8  | % |            | 61.3  | % |  | 1.5   |
|                                                                                               |                                 |               |                                  |      |            |            |          |       |  |            |   |            |
| Current accident year combined ratio before                                                   |                                 |               |                                  |      |            |            |          |       |  |            |   |            |
|   catastrophe losses                                                                |                                 | 81.1     | %                                |      | 84.2  | %          |          | (3.1) |  | 87.0  | % |            | 86.4  | % |  | 0.6   |
|                                                                                               |                                 |               |                                  |      |            |            |          |       |  |            |   |            |

----

|                                             |                                 |           |                                  |  |           |   |          |      |      |           |          |   |           |  |  |      |           |  |  |    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------|---------------------------------|-----------|----------------------------------|--|-----------|---|----------|------|------|-----------|----------|---|-----------|--|--|------|-----------|--|--|----|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (Dollars in millions)                       | Three months ended December 31, |           | Twelve months ended December 31, |
|                                             | 2021                            |           | 2020                             |  | % Change  |   | 2021     |      | 2020 |           | % Change |
| Term life insurance                         |                                 | $         | 54                          |  |           | $ | 50  |      |      | 8         |          | $ | 210  |  |  | $    | 197  |  |  | 7  |
| Universal life insurance                    |                                 | 11   |                                  |  | 10   |   |          | 10   |      | 39   |          |   | 44   |  |  | (11) |
| Other life insurance and annuity products   |                                 | 12   |                                  |  | 11   |   |          | 9    |      | 49   |          |   | 48   |  |  | 2    |
| Earned premiums                             |                                 | 77   |                                  |  | 71   |   |          | 8    |      | 298  |          |   | 289  |  |  | 3    |
| Investment income, net of expenses          |                                 | 41   |                                  |  | 40   |   |          | 3    |      | 166  |          |   | 158  |  |  | 5    |
| Investment gains and losses, net            |                                 | 3    |                                  |  | 2    |   |          | 50   |      | 11   |          |   | (27)      |  |  | nm   |
| Fee revenues                                |                                 | 2    |                                  |  | 1    |   |          | 100  |      | 5    |          |   | 2    |  |  | 150  |
| Total revenues                              |                                 | 123  |                                  |  | 114  |   |          | 8    |      | 480  |          |   | 422  |  |  | 14   |
| Contract holders’ benefits incurred   |                                 | 91   |                                  |  | 73   |   |          | 25   |      | 340  |          |   | 297  |  |  | 14   |
| Underwriting expenses incurred              |                                 | 21   |                                  |  | 22   |   |          | (5)  |      | 84   |          |   | 85   |  |  | (1)  |
| Total benefits and expenses                 |                                 | 112  |                                  |  | 95   |   |          | 18   |      | 424  |          |   | 382  |  |  | 11   |
| Net income before income tax                |                                 | 11   |                                  |  | 19   |   |          | (42) |      | 56   |          |   | 40   |  |  | 40   |
| Income tax                                  |                                 | 2    |                                  |  | 4    |   |          | (50) |      | 12   |          |   | 8    |  |  | 50   |
| Net income of the life insurance subsidiary |                                 | $         | 9                           |  |           | $ | 15  |      |      | (40)      |          | $ | 44   |  |  | $    | 32   |  |  | 38 |
|                                             |                                 |           |                                  |  |           |   |          |      |      |           |          |   |

----

|                                                                          |      |                                 |              |                                  |            |   |              |        |      |             |          |   |              |   |  |      |              |  |  |     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|--------------------------------------------------------------------------|------|---------------------------------|--------------|----------------------------------|------------|---|--------------|--------|------|-------------|----------|---|--------------|---|--|------|--------------|--|--|-----|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|--|
| (Dollars in millions)                                                    |      | Three months ended December 31, |              | Twelve months ended December 31, |
|                                                                          | 2021 |                                 | 2020         |                                  | % Change   |   | 2021         |        | 2020 |             | % Change |
| Investment income, net of expenses                                       |      | $                               | 186     |                                  |            | $ | 172     |        |      | 8           |          | $ | 714     |   |  | $    | 670     |  |  | 7   |
| Investment interest credited to contract holders’                  |      | (26)                            |              |                                  | (25)       |   |              | (4)    |      | (105)       |          |   | (102)        |   |  | (3)  |
| Investment gains and losses, net                                         |      | 1,455                      |              |                                  | 997   |   |              | 46     |      | 2,409  |          |   | 865     |   |  | 178  |
| Investment profit                                                        |      | $                               | 1,615   |                                  |            | $ | 1,144   |        |      | 41          |          | $ | 3,018   |   |  | $    | 1,433   |  |  | 111 |
|                                                                          |      |                                 |              |                                  |            |   |              |        |      |             |          |   |
| Investment income:                                                   |      |                                 |              |                                  |            |   |              |        |      |             |          |   |
|    Interest                                               |      | $                               | 121     |                                  |            | $ | 116     |        |      | 4           |          | $ | 477     |   |  | $    | 455     |  |  | 5   |
|    Dividends                                              |      | 67                         |              |                                  | 59    |   |              | 14     |      | 246    |          |   | 220     |   |  | 12   |
|    Other                                                  |      | 1                          |              |                                  | 1     |   |              | 0      |      | 5      |          |   | 8       |   |  | (38) |
|    Less investment expenses                               |      | 3                          |              |                                  | 4     |   |              | (25)   |      | 14     |          |   | 13      |   |  | 8    |
|       Investment income, pretax            |      | 186                        |              |                                  | 172   |   |              | 8      |      | 714    |          |   | 670     |   |  | 7    |
|       Less income taxes                    |      | 29                         |              |                                  | 27    |   |              | 7      |      | 111    |          |   | 104     |   |  | 7    |
| Total investment income, after-tax                                       |      | $                               | 157     |                                  |            | $ | 145     |        |      | 8           |          | $ | 603     |   |  | $    | 566     |  |  | 7   |
|                                                                          |      |                                 |              |                                  |            |   |              |        |      |             |          |   |
| Investment returns:                                                  |      |                                 |              |                                  |            |   |              |        |      |             |          |   |
| Average invested assets plus cash and cash    equivalents |      | $                               | 24,219  |                                  |            | $ | 20,873  |        |      |        |          | $ | 23,215  |   |  | $    | 20,670  |  |  |     |
| Average yield pretax                                                     |      | 3.07                       | %            |                                  | 3.30  | % |              |   |      | 3.08   | %        |   | 3.24    | % |  |      |
| Average yield after-tax                                                  |      | 2.59                       |              |                                  | 2.78  |   |              |   |      | 2.60   |          |   | 2.74    |   |  |      |
| Effective tax rate                                                       |      | 15.5                       | %            |                                  | 15.4  | % |              |   |      | 15.5   | %        |   | 15.5    | % |  |      |
| Fixed-maturity returns:                                              |      |                                 |              |                                  |            |   |              |        |      |             |          |   |
| Average amortized cost                                                   |      | $                               | 12,132  |                                  |            | $ | 11,293  |        |      |        |          | $ | 11,771  |   |  | $    | 11,210  |  |  |     |
| Average yield pretax                                                     |      | 3.99                       | %            |                                  | 4.11  | % |              |   |      | 4.05   | %        |   | 4.06    | % |  |      |
| Average yield after-tax                                                  |      | 3.32                       |              |                                  | 3.43  |   |              |   |      | 3.37   |          |   | 3.39    |   |  |      |
| Effective tax rate                                                       |      | 16.9                       | %            |                                  | 16.6  | % |              |   |      | 16.8   | %        |   | 16.6    | % |  |      |
|                                                                          |      |                                 |              |                                  |            |   |              |        |      |             |          |   |

|                                                                     |      |                                 |             |                                  |           |   |             |             |  |   |             |  |  |   |             |  |  |  |  |  |  |  |  |  |  |  |
|---------------------------------------------------------------------|------|---------------------------------|-------------|----------------------------------|-----------|---|-------------|-------------|--|---|-------------|--|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|
| (Dollars in millions)                                               |      | Three months ended December 31, |             | Twelve months ended December 31, |
|                                                                     | 2021 |                                 | 2020        |                                  | 2021      |   | 2020        |
| Investment gains and losses on equity securities sold, net          |      | $                               | (2)         |                                  |           | $ | 4      |             |  | $ | 4      |  |  | $ | 79     |  |
| Unrealized gains and losses on equity securities still held, net    |      | 1,409                      |             |                                  | 971  |   |             | 2,278  |  |   | 841    |  |
| Investment gains and losses on fixed-maturity securities, net       |      | 10                         |             |                                  | 7    |   |             | 30     |  |   | (65)        |  |
| Other                                                               |      | 38                         |             |                                  | 15   |   |             | 97     |  |   | 10     |  |
| Subtotal - investment gains and losses reported in net income       |      | 1,455                      |             |                                  | 997  |   |             | 2,409  |  |   | 865    |  |
|                                                                     |      |                                 |             |                                  |           |   |             |             |
| Change in unrealized investment gains and losses - fixed maturities |      | (82)                            |             |                                  | 142  |   |             | (234)       |  |   | 436    |  |
| Total                                                               |      | $                               | 1,373  |                                  |           | $ | 1,139  |             |  | $ | 2,175  |  |  | $ | 1,301  |  |
|                                                                     |      |                                 |             |                                  |           |   |             |             |

----

|                                               |      |                 |              |                 |              |   |              |  |  |  |  |  |  |  |
|-----------------------------------------------|------|-----------------|--------------|-----------------|--------------|---|--------------|--|--|--|--|--|--|--|
| (Dollars in millions except share data)       |      | At December 31, |              | At December 31, |
|                                               | 2021 |                 | 2020         |
|    Total investments           |      | $               | 24,666  |                 |              | $ | 21,542  |  |
|    Total assets                |      | 31,387     |              |                 | 27,542  |   |
|    Short-term debt             |      | 54         |              |                 | 54      |   |
|    Long-term debt              |      | 789        |              |                 | 788     |   |
|    Shareholders’ equity  |      | 13,105     |              |                 | 10,789  |   |
|    Book value per share        |      | 81.72      |              |                 | 67.04   |   |
|    Debt-to-total-capital ratio |      | 6.0        | %            |                 | 7.2     | % |

----

----

----

----

|                                                                                                                                                                                                       |  |              |              |              |              |   |              |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--------------|--------------|--------------|--------------|---|--------------|--|--|--|--|--|--|--|
| (Dollars in millions except per share data)                                                                                                                                                           |  | December 31, |              | December 31, |
|                                                                                                                                                                                                       |  | 2021         |              | 2020         |
| Assets                                                                                                                                                                                                |  |         |              |         |
|   Investments                                                                                                                                                                               |  |         |              |         |
|     Fixed maturities, at fair value (amortized cost: 2021—$12,230; 2020—$11,312)                                                                              |  | $            | 13,022  |              |              | $ | 12,338  |  |
|     Equity securities, at fair value (cost: 2021—$4,121; 2020—$3,927)                                                                                         |  | 11,315  |              |              | 8,856   |   |
|                                                                                                                                                                                                       |  |              |              |              |
|     Other invested assets                                                                                                                                                         |  | 329     |              |              | 348     |   |
|       Total investments                                                                                                                                                 |  | 24,666  |              |              | 21,542  |   |
|   Cash and cash equivalents                                                                                                                                                                 |  | 1,139   |              |              | 900     |   |
|   Investment income receivable                                                                                                                                                              |  | 144     |              |              | 136     |   |
|   Finance receivable                                                                                                                                                                        |  | 98      |              |              | 95      |   |
|   Premiums receivable                                                                                                                                                                       |  | 2,053   |              |              | 1,879   |   |
|   Reinsurance recoverable                                                                                                                                                                   |  | 570     |              |              | 517     |   |
|   Prepaid reinsurance premiums                                                                                                                                                              |  | 78      |              |              | 65      |   |
|   Deferred policy acquisition costs                                                                                                                                                         |  | 905     |              |              | 805     |   |
|   Land, building and equipment, net, for company use (accumulated depreciation:     2021—$303; 2020—$285)                                      |  | 205     |              |              | 213     |   |
|   Other assets                                                                                                                                                                              |  | 570     |              |              | 438     |   |
|   Separate accounts                                                                                                                                                                         |  | 959     |              |              | 952     |   |
|     Total assets                                                                                                                                                                  |  | $            | 31,387  |              |              | $ | 27,542  |  |
| Liabilities                                                                                                                                                                                           |  |         |              |         |
|   Insurance reserves                                                                                                                                                                        |  |         |              |         |
|     Loss and loss expense reserves                                                                                                                                                |  | $            | 7,305   |              |              | $ | 6,746   |  |
|     Life policy and investment contract reserves                                                                                                                                  |  | 3,014   |              |              | 2,915   |   |
|   Unearned premiums                                                                                                                                                                         |  | 3,271   |              |              | 2,960   |   |
|   Other liabilities                                                                                                                                                                         |  | 1,092   |              |              | 982     |   |
|   Deferred income tax                                                                                                                                                                       |  | 1,744   |              |              | 1,299   |   |
|   Note payable                                                                                                                                                                              |  | 54      |              |              | 54      |   |
|   Long-term debt and lease obligations                                                                                                                                                      |  | 843     |              |              | 845     |   |
|   Separate accounts                                                                                                                                                                         |  | 959     |              |              | 952     |   |
|     Total liabilities                                                                                                                                                             |  | 18,282  |              |              | 16,753  |   |
|                                                                                                                                                                                                       |  |              |              |              |
|                                                                                                                                                                                                       |  |              |              |              |
|                                                                                                                                                                                                       |  |              |              |              |
| Shareholders' Equity                                                                                                                                                                                  |  |         |              |         |
|   Common stock, par value—$2 per share; (authorized: 2021 and 2020—500 million shares;    issued: 2021 and 2020—198.3 million shares) |  | 397     |              |              | 397     |   |
| Paid-in capital                                                                                                                                                                                       |  | 1,356   |              |              | 1,328   |   |
| Retained earnings                                                                                                                                                                                     |  | 12,625  |              |              | 10,085  |   |
| Accumulated other comprehensive income                                                                                                                                                                |  | 648     |              |              | 769     |   |
| Treasury stock at cost (2021— 38.0 million shares and 2020—37.4 million shares)                                                                                                           |  | (1,921)      |              |              | (1,790)      |   |
| Total shareholders' equity                                                                                                                                                                            |  | $            | 13,105  |              |              | $ | 10,789  |  |
| Total liabilities and shareholders' equity                                                                                                                                                            |  | $            | 31,387  |              |              | $ | 27,542  |  |
|                                                                                                                                                                                                       |  |              |              |              |

----

|                                                                         |                                 |             |                                  |             |      |             |             |  |   |             |  |  |   |             |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------|---------------------------------|-------------|----------------------------------|-------------|------|-------------|-------------|--|---|-------------|--|--|---|-------------|--|--|--|--|--|--|--|--|--|
|                                                                         |                                 |             |                                  |             |      |             |             |
| (Dollars in millions except per share data)                             | Three months ended December 31, |             | Twelve months ended December 31, |
|                                                                         | 2021                            |             | 2020                             |             | 2021 |             | 2020        |
| Revenues                                                                |                                 |             |                                  |             |      |             |             |
|    Earned premiums                                       | $                               | 1,676  |                                  |             | $    | 1,520  |             |  | $ | 6,482  |  |  | $ | 5,980  |  |
|    Investment income, net of expenses                    | 186                        |             |                                  | 172    |      |             | 714    |  |   | 670    |  |
|    Investment gains and losses, net                      | 1,455                      |             |                                  | 997    |      |             | 2,409  |  |   | 865    |  |
|    Fee revenues                                          | 4                          |             |                                  | 3      |      |             | 15     |  |   | 11     |  |
|    Other revenues                                        | 2                          |             |                                  | 2      |      |             | 10     |  |   | 10     |  |
|       Total revenues                      | 3,323                      |             |                                  | 2,694  |      |             | 9,630  |  |   | 7,536  |  |
|                                                                         |                                 |             |                                  |             |      |             |             |
| Benefits and Expenses                                                   |                                 |             |                                  |             |      |             |             |
|    Insurance losses and contract holders’ benefits | 946                        |             |                                  | 902    |      |             | 3,936  |  |   | 4,134  |  |
|    Underwriting, acquisition and insurance expenses      | 511                        |             |                                  | 457    |      |             | 1,951  |  |   | 1,829  |  |
|    Interest expense                                      | 14                         |             |                                  | 14     |      |             | 53     |  |   | 54     |  |
|    Other operating expenses                              | 6                          |             |                                  | 5      |      |             | 20     |  |   | 20     |  |
|       Total benefits and expenses         | 1,477                      |             |                                  | 1,378  |      |             | 5,960  |  |   | 6,037  |  |
|                                                                         |                                 |             |                                  |             |      |             |             |
| Income Before Income Taxes                                              | 1,846                      |             |                                  | 1,316  |      |             | 3,670  |  |   | 1,499  |  |
|                                                                         |                                 |             |                                  |             |      |             |             |
| Provision for Income Taxes                                              |                                 |             |                                  |             |      |             |             |
|    Current                                               | 81                         |             |                                  | 66     |      |             | 247    |  |   | 147    |  |
|    Deferred                                              | 295                        |             |                                  | 201    |      |             | 477    |  |   | 136    |  |
|       Total provision for income taxes    | 376                        |             |                                  | 267    |      |             | 724    |  |   | 283    |  |
|                                                                         |                                 |             |                                  |             |      |             |             |
| Net Income                                                              | $                               | 1,470  |                                  |             | $    | 1,049  |             |  | $ | 2,946  |  |  | $ | 1,216  |  |
|                                                                         |                                 |             |                                  |             |      |             |             |
| Per Common Share                                                        |                                 |             |                                  |             |      |             |             |
|    Net income—basic                                | $                               | 9.14   |                                  |             | $    | 6.52   |             |  | $ | 18.29  |  |  | $ | 7.55   |  |
|    Net income—diluted                              | 9.04                       |             |                                  | 6.47   |      |             | 18.10  |  |   | 7.49   |  |

----

----

|                                                             |  |                                 |             |                                  |            |      |             |             |  |   |             |  |  |   |             |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------|--|---------------------------------|-------------|----------------------------------|------------|------|-------------|-------------|--|---|-------------|--|--|---|-------------|--|--|--|--|--|--|--|--|--|--|--|
|  Net Income Reconciliation                             |
|                                                             |
| (Dollars in millions except per share data)                 |  | Three months ended December 31, |             | Twelve months ended December 31, |
|                                                             |  | 2021                            |             | 2020                             |            | 2021 |             | 2020        |
| Net income                                                  |  | $                               | 1,470  |                                  |            | $    | 1,049  |             |  | $ | 2,946  |  |  | $ | 1,216  |  |
| Less:                                                   |  |                                 |             |                                  |            |      |             |             |
|    Investment gains and losses, net          |  | 1,455                      |             |                                  | 997   |      |             | 2,409  |  |   | 865    |  |
|    Income tax on investment gains and losses |  | (305)                           |             |                                  | (210)      |      |             | (506)       |  |   | (182)       |  |
| Investment gains and losses, after-tax                      |  | 1,150                      |             |                                  | 787   |      |             | 1,903  |  |   | 683    |  |
|                                                             |  |                                 |             |                                  |            |      |             |             |
| Non-GAAP operating income                                   |  | $                               | 320    |                                  |            | $    | 262    |             |  | $ | 1,043  |  |  | $ | 533    |  |
|                                                             |  |                                 |             |                                  |            |      |             |             |
| Diluted per share data:                                 |  |                                 |             |                                  |            |      |             |             |
| Net income                                                  |  | $                               | 9.04   |                                  |            | $    | 6.47   |             |  | $ | 18.10  |  |  | $ | 7.49   |  |
| Less:                                                   |  |                                 |             |                                  |            |      |             |             |
|    Investment gains and losses, net          |  | 8.95                       |             |                                  | 6.15  |      |             | 14.80  |  |   | 5.33   |  |
|    Income tax on investment gains and losses |  | (1.88)                          |             |                                  | (1.29)     |      |             | (3.11)      |  |   | (1.12)      |  |
| Investment gains and losses, after-tax                      |  | 7.07                       |             |                                  | 4.86  |      |             | 11.69  |  |   | 4.21   |  |
|                                                             |  |                                 |             |                                  |            |      |             |             |
| Non-GAAP operating income                                   |  | $                               | 1.97   |                                  |            | $    | 1.61   |             |  | $ | 6.41   |  |  | $ | 3.28   |  |
|                                                             |  |                                 |             |                                  |            |      |             |             |

|                                                                         |  |                                 |         |                                  |               |      |          |           |  |   |           |  |  |   |          |  |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------------------------|--|---------------------------------|---------|----------------------------------|---------------|------|----------|-----------|--|---|-----------|--|--|---|----------|--|--|--|--|--|--|--|--|--|--|--|
| Life Insurance Reconciliation                                           |
|                                                                         |
| (Dollars in millions)                                                   |  | Three months ended December 31, |         | Twelve months ended December 31, |
|                                                                         |  | 2021                            |         | 2020                             |               | 2021 |          | 2020      |
| Net income of life insurance subsidiary                                 |  | $                               | 9  |                                  |               | $    | 15  |           |  | $ | 44   |  |  | $ | 32  |  |
|    Investment gains and losses, net                      |  | 3                          |         |                                  | 2        |      |          | 11   |  |   | (27)      |  |
|    Income tax on investment gains and losses             |  | 1                          |         |                                  | —  |      |          | 3    |  |   | (6)       |  |
|    Non-GAAP operating income                             |  | 7                          |         |                                  | 13       |      |          | 36   |  |   | 53   |  |
|                                                                         |  |                                 |         |                                  |               |      |          |           |
| Investment income, net of expenses                                      |  | (41)                            |         |                                  | (40)          |      |          | (166)     |  |   | (158)     |  |
| Investment income credited to contract holders'                         |  | 26                         |         |                                  | 25       |      |          | 105  |  |   | 102  |  |
| Income tax excluding tax on investment gains and losses,  net |  | 1                          |         |                                  | 4        |      |          | 9    |  |   | 14   |  |
| Life insurance segment profit (loss)                                    |  | $                               | (7)     |                                  |               | $    | 2   |           |  | $ | (16)      |  |  | $ | 11  |  |
|                                                                         |  |                                 |         |                                  |               |      |          |           |

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| Property Casualty Insurance Reconciliation                                                     |
| (Dollars in millions)                                                                          | Three months ended December 31, 2021  |
|                                                                                                | Consolidated                          | Commercial | Personal    | E&S |        | Other*   |
| Premiums:                                                                                  |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
|    Written premiums                                                             |                                  | $          | 1,534  |         |        |     | $ | 920    |  |          |  | $ | 382    |         |  |   | $ | 108  |  |  |  | $ | 124  |  |
|    Unearned premiums change                                                     |                                       | 65    |             |         |        | 27  |   |             |  | 14  |  |   |             | 1  |  |        |   | 23   |  |
|    Earned premiums                                                              |                                  | $          | 1,599  |         |        |     | $ | 947    |  |          |  | $ | 396    |         |  |   | $ | 109  |  |  |  | $ | 147  |  |
|                                                                                                |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
| Underwriting profit                                                                            |                                       | $          | 256    |         |        |          | $ | 141    |  |          |  | $ | 81     |         |  |        | $ | 19   |  |  |  | $ | 15   |  |
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| (Dollars in millions)                                                                          | Twelve months ended December 31, 2021 |
|                                                                                                | Consolidated                          | Commercial | Personal    | E&S |        | Other*   |
| Premiums:                                                                                  |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
|    Written premiums                                                             |                                  | $          | 6,479  |         |        |          | $ | 3,811  |  |          |  | $ | 1,594  |         |  |        | $ | 426  |  |  |  | $ | 648  |  |
|    Unearned premiums change                                                     |                                       | (295)      |             |         |        | (137)    |   |             |  | (52)     |  |   |             | (28)    |  |        |   | (78)      |  |
|    Earned premiums                                                              |                                  | $          | 6,184  |         |        |          | $ | 3,674  |  |          |  | $ | 1,542  |         |  |        | $ | 398  |  |  |  | $ | 570  |  |
|                                                                                                |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
| Underwriting profit (loss)                                                                     |                                       | $          | 731    |         |        |          | $ | 598    |  |          |  | $ | 97     |         |  |        | $ | 44   |  |  |  | $ | (8)       |  |
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| (Dollars in millions)                                                                          | Three months ended December 31, 2020  |
|                                                                                                | Consolidated                          | Commercial | Personal    | E&S | Other* |
| Premiums:                                                                                  |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
|    Written premiums                                                             |                                       | $          | 1,394  |         |        |          | $ | 840    |  |          |  | $ | 354    |         |  |        | $ | 92   |  |  |  | $ | 108  |  |
|    Unearned premiums change                                                     |                                       | 55    |             |         |        | 38  |   |             |  | 19  |  |   |             | (5)     |  |        |   | 3    |  |
|    Earned premiums                                                              |                                       | $          | 1,449  |         |        |          | $ | 878    |  |          |  | $ | 373    |         |  |        | $ | 87   |  |  |  | $ | 111  |  |
|                                                                                                |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
| Underwriting profit                                                                            |                                       | $          | 187    |         |        |          | $ | 96     |  |          |  | $ | 71     |         |  |        | $ | 15   |  |  |  | $ | 5    |  |
|                                                                                                |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
| (Dollars in millions)                                                                          | Twelve months ended December 31, 2020 |
|                                                                                                | Consolidated                          | Commercial | Personal    | E&S | Other* |
| Premiums:                                                                                  |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
|    Written premiums                                                             |                                       | $          | 5,864  |         |        |          | $ | 3,534  |  |          |  | $ | 1,503  |         |  |        | $ | 348  |  |  |  | $ | 479  |  |
|    Unearned premiums change                                                     |                                       | (173)      |             |         |        | (58)     |   |             |  | (40)     |  |   |             | (23)    |  |        |   | (52)      |  |
|    Earned premiums                                                              |                                       | $          | 5,691  |         |        |          | $ | 3,476  |  |          |  | $ | 1,463  |         |  |        | $ | 325  |  |  |  | $ | 427  |  |
|                                                                                                |                                       |            |             |         |        |          |   |             |  |          |  |   |             |         |
| Underwriting profit (loss)                                                                     |                                       | $          | 119    |         |        |          | $ | 64     |  |          |  | $ | 47     |         |  |        | $ | 34   |  |  |  | $ | (26)      |  |
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| Dollar amounts shown are rounded to millions; certain amounts may not add due to rounding. |

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| (Dollars are per share)                                                                                                                 |           | Three months ended December 31, |             | Twelve months ended December 31, |
|                                                                                                                                         | 2021      |                                 | 2020        |                                  | 2021        |   | 2020        |
| Value creation ratio:                                                                                                               |           |                                 |             |                                  |             |   |             |             |
|    End of period book value*                                                                                             |           | $                               | 81.72  |                                  |             | $ | 67.04  |             |   | $         | 81.72  |   |  | $ | 67.04  |  |
|    Less beginning of period book value                                                                                   |           | 73.49                      |             |                                  | 60.57  |   |             | 67.04  |   |           | 60.55  |   |
|    Change in book value                                                                                                  |           | 8.23                       |             |                                  | 6.47   |   |             | 14.68  |   |           | 6.49   |   |
|    Dividend declared to shareholders                                                                                     |           | 0.63                       |             |                                  | 0.60   |   |             | 2.52   |   |           | 2.40   |   |
|    Total value creation                                                                                                  |           | $                               | 8.86   |                                  |             | $ | 7.07   |             |   | $         | 17.20  |   |  | $ | 8.89   |  |
|                                                                                                                                         |           |                                 |             |                                  |             |   |             |             |
| Value creation ratio from change in book value**                                                                                        |           | 11.2                       | %           |                                  | 10.7   | % |             | 21.9   | % |           | 10.7   | % |
| Value creation ratio from dividends declared to   shareholders***                                                        | 0.9  |                                 |             | 1.0                         |             |   | 3.8    |             |   | 4.0  |             |
| Value creation ratio                                                                                                                    |           | 12.1                       | %           |                                  | 11.7   | % |             | 25.7   | % |           | 14.7   | % |
|                                                                                                                                         |           |                                 |             |                                  |             |   |             |             |
| *     Book value per share is calculated by dividing end of period total shareholders’ equity by end of period shares outstanding |           |                                 |
| **   Change in book value divided by the beginning of period book value                                                                 |           |                                 |
| ***  Dividend declared to shareholders divided by beginning of period book value                                                        |           |                                 |