Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Assets:
Cash and cash equivalents	$ 1,221	$ 872
Investments:
Fixed maturities, available for sale at fair value (amortized cost — $10,610 and $10,736; allowance for expected credit losses of $20 and $11)	9,931	10,095
Fixed maturities, trading at fair value	51	32
Equity securities, at fair value	1,007	1,010
Investments accounted for using the equity method	1,807	1,700
Mortgage loans	644	676
Real estate and other investments	133	127
Total cash and investments	14,794	14,512
Recoverables from reinsurers	4,421	3,977
Prepaid reinsurance premiums	1,223	917
Agents’ balances and premiums receivable	2,088	1,339
Deferred policy acquisition costs	324	288
Assets of managed investment entities	4,871	5,447
Other receivables	1,377	886
Other assets	1,422	1,219
Goodwill	305	246
Total assets	30,825	28,831
Liabilities and Equity:
Unpaid losses and loss adjustment expenses	12,891	11,974
Unearned premiums	3,997	3,246
Payable to reinsurers	1,398	1,035
Liabilities of managed investment entities	4,728	5,332
Long-term debt	1,474	1,496
Other liabilities	2,356	1,696
Total liabilities	26,844	24,779
Shareholders’ equity:
Common Stock, no par value — 200,000,000 shares authorized — 84,135,710 and 85,204,006 shares outstanding	84	85
Capital surplus	1,372	1,368
Retained earnings	3,095	3,142
Accumulated other comprehensive income (loss), net of tax	(570)	(543)
Total shareholders’ equity	3,981	4,052
Total liabilities and shareholders’ equity	$ 30,825	$ 28,831