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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income (loss) $ 1,386 $ 602
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Net realized (gains) losses 110 555
Equity in net (income) or loss of investment funds accounted for using the equity method and other income or loss (49) 44
Amortization of intangible assets 47 54
Share-based compensation 58 66
Changes in:    
Reserve for losses and loss adjustment expenses, net of unpaid losses and loss adjustment expenses recoverable 1,020 635
Unearned premiums, net of ceded unearned premiums 1,004 872
Premiums receivable (1,648) (1,086)
Deferred acquisition costs (152) (174)
Reinsurance balances payable 652 72
Other items, net (314) (186)
Net cash provided by operating activities 2,114 1,454
Investing Activities    
Purchases of fixed maturity investments (8,840) (9,706)
Purchases of equity securities (104) (656)
Purchases of other investments (557) (920)
Proceeds from sales of fixed maturity investments 7,079 8,079
Proceeds from sales of equity securities 161 1,490
Proceeds from sales, redemptions and maturities of other investments 201 863
Proceeds from redemptions and maturities of fixed maturity investments 368 444
Net settlements of derivative instruments 46 (44)
Net (purchases) sales of short-term investments (333) (440)
Purchases of fixed assets (26) (23)
Other 4 98
Net cash used for investing activities (2,001) (815)
Financing Activities    
Purchases of common shares under share repurchase program 0 (576)
Proceeds from common shares issued, net 0 (4)
Change in third party investment in redeemable noncontrolling interests (22) 0
Other (3) (82)
Preferred dividends paid (20) (20)
Net cash used for financing activities (45) (682)
Effects of exchange rate changes on foreign currency cash and restricted cash 12 (43)
Increase (decrease) in cash and restricted cash 80 (86)
Cash and restricted cash, beginning of year 1,273 1,314
Cash and restricted cash, end of period $ 1,353 $ 1,228