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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investments:    
Fixed maturities, AFS, at fair value (amortized cost of $44,538 and $41,726, and ACL of $16 and $21) $ 42,567 $ 39,818
Fixed maturities, at fair value using the fair value option ("FVO Securities") 308 327
Equity securities, at fair value 603 864
Financing Receivable, after Allowance for Credit Loss 6,396 6,087
Limited partnerships and other alternative investments 5,042 4,785
Other investments 226 191
Short-term investments 4,068 3,850
Total investments 59,210 55,922
Cash 183 126
Restricted Cash 51 63
Accrued Investment Income Receivable 450 404
Premiums receivable and agents' balances (net of ACL of $117 and $109) 5,998 5,607
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $75 and $103) 7,140 7,104
Deferred policy acquisition costs 1,239 1,113
Deferred income taxes, net 1,229 1,173
Goodwill 1,911 1,911
Property and equipment, net 888 896
Other intangible assets, net 637 707
Other assets 1,981 1,754
Total assets 80,917 76,780
Liabilities    
Unpaid losses and loss adjustment expenses 44,610 42,318
Liability for Future Policy Benefit, before Reinsurance 448 484
Policyholder Account Balance 614 638
Unearned premiums 9,408 8,599
Long-term debt 4,366 4,362
Other liabilities 5,024 5,052
Total liabilities 64,470 61,453
Stockholders’ Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at December 31, 2024 and December 31, 2023, aggregate liquidation preference of $345 334 334
Common Stock, Value, Issued 3 3
Additional paid-in capital 578 648
Retained earnings 21,531 19,007
Treasury Stock, Value (3,113) (1,816)
Accumulated other comprehensive loss, net of tax (2,886) (2,849)
Total stockholders' equity 16,447 15,327
Total liabilities and stockholders’ equity $ 80,917 $ 76,780