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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
ASSETS:    
Fixed maturities - available for sale, at fair value (amortized cost: 2022, $23,204; 2021, $22,064, credit allowances: 2022, $(38); 2021, $(30)) $ 21,009 $ 22,308
Fixed maturities - held to maturity, at amortized cost, net of credit allowances (fair value: 2022, $817, credit allowances: 2022, $(9)) 837
Equity securities, at fair value 1,301 1,826
Short-term investments (cost: 2022, $611; 2021, $1,178) 611 1,178
Other invested assets 3,079 2,920
Cash 1,679 1,441
Total investments and cash 28,516 29,673
Accrued investment income 200 149
Premiums receivable 3,452 3,294
Reinsurance recoverables 2,240 2,053
Funds held by reinsureds 893 869
Deferred acquisition costs 867 872
Prepaid reinsurance premiums 556 515
Income taxes 544 2
Other assets 876 757
TOTAL ASSETS 38,144 38,185
LIABILITIES:    
Reserve for losses and loss adjustment expenses 21,222 19,009
Future policy benefit reserve 34 36
Unearned premium reserve 4,795 4,610
Funds held under reinsurance treaties 18 18
Other net payable to reinsurers 511 450
Losses in course of payment 110 261
Senior notes 2,347 2,346
Long term notes 218 224
Borrowings from FHLB 519 519
Accrued interest on debt and borrowings 39 17
Unsettled securities payable 134 17
Other liabilities 548 540
Total liabilities 30,495 28,046
Commitments and contingencies (Note 7)
SHAREHOLDERS' EQUITY:    
Preferred shares, par value: $0.01; 50.0 shares authorized; no shares issued and outstanding
Common shares, par value: $0.01; 200.0 shares authorized; (2022) 69.9 and (2021) 69.8 outstanding before treasury shares 1 1
Additional paid-in capital 2,293 2,274
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $(269) at 2022 and $27 at 2021 (2,348) 12
Treasury shares, at cost; 30.8 shares (2022) and 30.5 shares (2021) (3,907) (3,847)
Retained earnings 11,610 11,700
Total shareholders' equity 7,649 10,139
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 38,144 $ 38,185