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Consolidated Balance Sheet (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Assets:        
Cash and cash equivalents $ 1,087 $ 1,225    
Investments:        
Fixed maturities, available for sale at fair value (amortized cost — $10,734 and $10,752; allowance for expected credit losses of $11 and $12) 10,371 10,377    
Fixed maturities, trading at fair value 57 57    
Equity securities, at fair value 1,040 1,018    
Investments accounted for using the equity method 1,848 1,814    
Mortgage loans 722 643    
Real estate and other investments 129 129    
Total cash and investments 15,254 15,263    
Recoverables from reinsurers 4,510 4,477    
Prepaid reinsurance premiums 1,078 961    
Agents’ balances and premiums receivable 1,606 1,471    
Deferred policy acquisition costs 309 309    
Assets of managed investment entities 4,669 4,484    
Other receivables 958 1,171    
Other assets 1,312 1,346    
Goodwill 305 305    
Total assets 30,001 29,787     Close
Liabilities and Equity:        
Unearned premiums 3,650 3,451    
Payable to reinsurers 1,078 1,186    
Liabilities of managed investment entities 4,468 4,307    
Long-term debt 1,475 1,475    
Other liabilities 2,040 2,023    
Total liabilities 25,761 25,529     Close
Shareholders’ equity:        
Common Stock, no par value — 200,000,000 shares authorized — 83,857,354 and 83,635,807 shares outstanding 84 84    
Capital surplus 1,382 1,372    
Retained earnings 3,089 3,121    
Accumulated other comprehensive income (loss), net of tax (315) (319)    
Total shareholders’ equity 4,240 4,258     Close
Total liabilities and shareholders’ equity 30,001 29,787    
Property and casualty insurance        
Liabilities and Equity:        
Unpaid losses and loss adjustment expenses $ 13,050 $ 13,087 $ 11,761 $ 11,974