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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 365 $ 298
Adjustments to reconcile net income to net cash provided by operating activities:    
Decrease (increase) in premiums receivable (259) (14)
Decrease (increase) in funds held by reinsureds, net (17) (67)
Decrease (increase) in reinsurance recoverables 7 (126)
Decrease (increase) in income taxes 41 1
Decrease (increase) in prepaid reinsurance premiums 28 (7)
Increase (decrease) in reserve for losses and loss adjustment expenses 681 632
Increase (decrease) in future policy benefit reserve 0 (1)
Increase (decrease) in unearned premiums 226 4
Increase (decrease) in other net payable to reinsurers 17 46
Increase (decrease) in losses in course of payment 47 (125)
Change in equity adjustments in limited partnerships (5) (98)
Distribution of limited partnership income 48 71
Change in other assets and liabilities, net (121) 47
Non-cash compensation expense 12 12
Amortization of bond premium (accrual of bond discount) (1) 19
Net (gains) losses on investments (5) 154
Net cash provided by (used in) operating activities 1,064 846
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from fixed maturities matured/called/repaid - available for sale 562 849
Proceeds from fixed maturities sold - available for sale 72 419
Proceeds from fixed maturities matured/called/repaid - held to maturity 28 0
Proceeds from equity securities sold 46 90
Distributions from other invested assets 137 163
Cost of fixed maturities acquired - available for sale (1,613) (2,011)
Cost of fixed maturities acquired - held to maturity (11) 0
Cost of equity securities acquired (1) (195)
Cost of other invested assets acquired (242) (137)
Net change in short-term investments 4 355
Net change in unsettled securities transactions 267 46
Net cash provided by (used in) investing activities (752) (421)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Common shares issued (redeemed) during the period for share-based compensation, net of expense (19) (14)
Purchase of treasury shares 0 (1)
Dividends paid to shareholders (65) (61)
Cost of shares withheld on settlements of share-based compensation awards (19) (17)
Net cash provided by (used in) financing activities (103) (94)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 3 6
Net increase (decrease) in cash 212 337
Cash, beginning of period 1,398 1,441
Cash, end of period 1,610 1,778
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid (recovered) 2 3
Interest paid $ 10 $ 2