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Consolidated Balance Sheet (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Assets:    
Cash and cash equivalents $ 988 $ 872
Investments:    
Fixed maturities, available for sale at fair value (amortized cost — $10,488 and $10,736; allowance for expected credit losses of $16 and $11) 9,885 10,095
Fixed maturities, trading at fair value 38 32
Equity securities, at fair value 1,048 1,010
Investments accounted for using the equity method 1,756 1,700
Mortgage loans 645 676
Real estate and other investments 129 127
Total cash and investments 14,489 14,512
Recoverables from reinsurers 3,852 3,977
Prepaid reinsurance premiums 1,112 917
Agents’ balances and premiums receivable 1,796 1,339
Deferred policy acquisition costs 316 288
Other receivables 721 886
Other assets 1,281 1,219
Goodwill 246 246
Total assets 29,048 28,831 Close
Liabilities and Equity:    
Unpaid losses and loss adjustment expenses 11,925 11,974
Unearned premiums 3,686 3,246
Payable to reinsurers 1,038 1,035
Long-term debt 1,474 1,496
Other liabilities 1,834 1,696
Total liabilities 25,055 24,779 Close
Shareholders’ equity:    
Common Stock, no par value — 200,000,000 shares authorized — 84,858,528 and 85,204,006 shares outstanding 85 85
Capital surplus 1,377 1,368
Retained earnings 3,042 3,142
Accumulated other comprehensive income (loss), net of tax (511) (543)
Total shareholders’ equity 3,993 4,052 Close
Total liabilities and shareholders’ equity 29,048 28,831
Variable interest entity, primary beneficiary    
Investments:    
Total assets 5,235 5,447
Liabilities and Equity:    
Total liabilities $ 5,098 $ 5,332