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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUES:    
Premiums earned $ 3,100 $ 2,792
Net investment income 260 243
Net gains (losses) on investments:    
Credit allowances on fixed maturity securities (8) (12)
Gains (losses) from fair value adjustments 4 (137)
Net realized gains (losses) from dispositions 8 (5)
Total net gains (losses) on investments 5 (154)
Other income (expense) (79) 15
Total revenues 3,286 2,896
CLAIMS AND EXPENSES:    
Incurred losses and loss adjustment expenses 1,966 1,790
Commission, brokerage, taxes and fees 661 605
Other underwriting expenses 200 161
Corporate expenses 19 14
Interest, fees and bond issue cost amortization expense 32 24
Total claims and expenses 2,878 2,594
INCOME (LOSS) BEFORE TAXES 408 302
Income tax expense (benefit) 43 4
NET INCOME (LOSS) 365 298
Other comprehensive income (loss), net of tax:    
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period 246 (815)
Reclassification adjustment for realized losses (gains) included in net income (loss) 3 4
Total URA(D) on securities arising during the period 249 (811)
Foreign currency translation adjustments 31 (34)
Reclassification adjustment for amortization of net (gain) loss included in net income (loss) 0 1
Total benefit plan net gain (loss) for the period 0 1
Total other comprehensive income (loss), net of tax 280 (844)
COMPREHENSIVE INCOME (LOSS) $ 645 $ (547)
EARNINGS PER COMMON SHARE:    
Basic (in dollars per share) $ 9.31 $ 7.57
Diluted (in dollars per share) $ 9.31 $ 7.56