Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets:
Cash and cash equivalents	$ 872	$ 2,131
Investments:
Fixed maturities, available for sale at fair value (amortized cost — $10,736 and $10,193; allowance for expected credit losses of $11 and $9)	10,095	10,357
Fixed maturities, trading at fair value	32	28
Equity securities, at fair value	1,010	1,042
Investments accounted for using the equity method	1,700	1,517
Mortgage loans	676	520
Real estate and other investments	127	150
Total cash and investments	14,512	15,745
Recoverables from reinsurers	3,977	3,519
Prepaid reinsurance premiums	917	834
Agents’ balances and premiums receivable	1,339	1,265
Deferred policy acquisition costs	288	267
Other receivables	886	857
Other assets	1,219	902
Goodwill	246	246
Total assets	28,831	28,931
Liabilities and Equity:
Unpaid losses and loss adjustment expenses	11,974	11,074
Unearned premiums	3,246	3,041
Payable to reinsurers	1,035	920
Long-term debt	1,496	1,964
Other liabilities	1,696	1,700
Total liabilities	24,779	23,919
Shareholders’ equity:
Common Stock, no par value — 200,000,000 shares authorized — 85,204,006 and 84,920,965 shares outstanding	85	85
Capital surplus	1,368	1,330
Retained earnings	3,142	3,478
Accumulated other comprehensive income (loss), net of tax	(543)	119
Shareholders’ equity	4,052	5,012
Total liabilities and shareholders’ equity	28,831	28,931
Variable interest entity, primary beneficiary
Investments:
Total assets	5,447	5,296
Liabilities and Equity:
Total liabilities	$ 5,332	$ 5,220