Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets:
Cash and cash equivalents	$ 1,181	$ 2,131
Investments:
Fixed maturities, available for sale at fair value (amortized cost — $10,954 and $10,193; allowance for expected credit losses of $7 and $9)	10,809	10,357
Fixed maturities, trading at fair value	30	28
Equity securities, at fair value	1,022	1,042
Investments accounted for using the equity method	1,619	1,517
Mortgage loans	784	520
Real estate and other investments	156	150
Total cash and investments	15,601	15,745
Recoverables from reinsurers	3,478	3,519
Prepaid reinsurance premiums	933	834
Agents’ balances and premiums receivable	1,391	1,265
Deferred policy acquisition costs	271	267
Other receivables	645	857
Other assets	966	902
Goodwill	246	246
Total assets	28,762	28,931
Liabilities and Equity:
Unpaid losses and loss adjustment expenses	10,986	11,074
Unearned premiums	3,206	3,041
Payable to reinsurers	910	920
Long-term debt	1,917	1,964
Other liabilities	1,796	1,700
Total liabilities	23,927	23,919
Shareholders’ equity:
Common Stock, no par value — 200,000,000 shares authorized — 85,102,829 and 84,920,965 shares outstanding	85	85
Capital surplus	1,340	1,330
Retained earnings	3,541	3,478
Accumulated other comprehensive income (loss), net of tax	(131)	119
Total shareholders’ equity	4,835	5,012
Total liabilities and shareholders’ equity	28,762	28,931
Variable interest entity, primary beneficiary
Investments:
Assets of managed investment entities	5,231	5,296
Total assets	5,231	5,296
Liabilities and Equity:
Liabilities of managed investment entities	5,112	5,220
Total liabilities	$ 5,112	$ 5,220