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v3.20.4

Income Taxes (Components Of Deferred Tax Assets and Liabilities) (Detail) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019
--- | --- | ---
Deferred tax liabilities: |  |
Unearned premium reserve | $ 48 | $ 54
Deferred acquisition costs | 10 | 13
Net unrealized gains and losses in accumulated other comprehensive income | 25 | 0
Net deferred taxes on VIEs | 53 | 51
Other | 6 | 0
Total gross deferred tax liabilities | 142 | 118
Deferred tax assets: |  |
Compensation and employee benefits | 9 | 8
Accrued interest | 210 | 185
Partnership basis difference | 10 | 10
Loss and loss adjustment expense reserves | 98 | 101
Net operating loss | 656 | 590
Foreign tax credits | 61 | 61
Other-than-temporary impairments | 0 | 2
Net unrealized losses on insured derivatives | 10 | 9
Net gains and losses on financial instruments at fair value and foreign exchange | 54 | 21
Other |  | 4
Total gross deferred tax assets | 1,108 | 991
Valuation allowance | 966 | 873
Net deferred tax asset | $ 0 | $ 0

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