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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Investments    
Fixed maturities, at fair value (amortized cost: 2024—$16,074; 2023—$14,361) $ 15,871 $ 13,791
Equity securities, at fair value (cost: 2024—$4,034; 2023—$4,282) 11,570 10,989
Other invested assets 663 577
Total investments 28,104 25,357
Cash and cash equivalents 1,752 907
Investment income receivable 199 192
Finance receivable 116 108
Premiums receivable 3,012 2,592
Reinsurance recoverable 548 651
Prepaid reinsurance premiums 94 55
Deferred policy acquisition costs 1,241 1,093
Land, building and equipment, net, for company use (accumulated depreciation: 2024—$342; 2023—$337) 215 208
Other assets 785 681
Separate accounts 943 925
Total assets 37,009 32,769
Insurance reserves    
Reserve for loss and loss expenses 9,928 9,050
Life policy and investment contract reserves 3,069 3,068
Unearned premiums 4,874 4,119
Other liabilities 1,917 1,311
Deferred income tax 1,600 1,324
Note payable 25 25
Long-term debt and lease obligations 849 849
Separate accounts 943 925
Total liabilities 23,205 20,671
Commitments and contingent liabilities (Note 12)
Shareholders' Equity    
Common stock, par value—$2 per share; (authorized: 2024 and 2023—500 million shares; issued: 2024 and 2023—198.3 million shares) 397 397
Paid-in capital 1,482 1,437
Retained earnings 14,591 13,084
Accumulated other comprehensive loss (150) (435)
Treasury stock at cost (2024—42.0 million shares and 2023—41.3 million shares) (2,516) (2,385)
Total shareholders' equity 13,804 12,098
Total liabilities and shareholders' equity $ 37,009 $ 32,769