Financial Performance: Financial Highlights

At and for the year ended December 31. Dollar amounts in millions, except per share amounts.

2023 2022 2021 2020 2019
Earned Premiums

$37,761

$33,763

$30,855

$29,044

$28,272
Total Revenues

$41,364

$36,884

$34,816

$31,981

$31,581
Core Income

$3,072

$2,998

$3,522

$2,686

$2,537
Net Income

$2,991

$2,842

$3,662

$2,697

$2,622
Net Income Per Diluted Share

$12.79

$11.77

$14.49

$10.52

$9.92
Total Investments

$88,810

$80,454

$87,375

$84,423

$77,884
Total Assets

$125,978

$115,717

$120,466

$116,764

$110,122
Shareholders’ Equity

$24,921

$21,560

$28,887

$29,201

$25,943
Return On Equity

13.6%

12.2%

12.7%

10.0%

10.5%
Core Return On Equity

11.5%

11.3%

13.7%

11.3%

10.9%
Book Value Per Share

$109.19

$92.90

$119.77

$115.68

$101.55
Dividends Per Share

$3.93

$3.67

$3.47

$3.37

$3.23

See the Non-GAAP Reconciliations page for a discussion and calculation of non-GAAP financial measures.

Deliberate and disciplined execution

Deliberate and Disciplined Execution

More about financial performance

2023 results

We produced very strong results notwithstanding elevated industrywide catastrophe losses and a personal lines operating environment that, while improving, was difficult during the year.

Delivering value over time

The success of our strategy – with all its component parts – drives our total return to shareholders over time.

Non-GAAP reconciliations

Review tables that provide reconciliations of certain GAAP financial measures to non-GAAP financial measures.