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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities:    
Net earnings $ 242 $ 212
Adjustments:    
Depreciation and amortization 20 20
Realized (gains) losses on investing activities (14) 45
Net purchases of trading securities 0 (3)
Change in:    
Reinsurance and other receivables (71) 162
Other assets 57 48
Insurance claims and reserves 162 (24)
Payable to reinsurers (108) (124)
Other liabilities (42) (28)
Managed investment entities’ assets/liabilities (124) 139
Other operating activities, net (15) (44)
Net cash provided by operating activities 107 403
Purchases of:    
Fixed maturities (408) (575)
Equity securities (42) (41)
Mortgage loans (89) 0
Other investments (27) (49)
Real estate, property and equipment (38) (13)
Proceeds from:    
Maturities and redemptions of fixed maturities 378 381
Repayments of mortgage loans 8 32
Sales of fixed maturities 75 342
Sales of equity securities 56 56
Sales of other investments 5 33
Sales of real estate, property and equipment 0 1
Managed investment entities:    
Purchases of investments (605) (648)
Proceeds from sales and redemptions of investments 532 554
Net cash provided by (used in) investing activities (155) 73
Financing Activities:    
Reductions of long-term debt 0 (16)
Issuances of Common Stock 6 4
Repurchases of Common Stock 0 (24)
Cash dividends paid on Common Stock (268) (393)
Issuances of managed investment entities’ liabilities 635 588
Retirements of managed investment entities’ liabilities (463) (650)
Net cash used in financing activities (90) (491)
Net Change in Cash and Cash Equivalents (138) (15)
Cash and cash equivalents at beginning of period 1,225 872
Cash and cash equivalents at end of period $ 1,087 $ 857