Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $10,018 and $9,974)	$ 10,505	$ 10,233
Short-term investments, at fair value	678	590
Other invested assets	88	162
Total investment portfolio	11,271	10,985
Cash	200	118
Premiums receivable, net of commissions payable	916	576
Ceded unearned premium reserve	174	206
Deferred acquisition costs	107	106
Reinsurance recoverable on unpaid losses	78	80
Salvage and subrogation recoverable	403	365
Credit derivative assets	6	13
Deferred tax asset, net	391	497
Current income tax receivable	0	12
Financial guaranty variable interest entities’ assets, at fair value	757	876
Other assets	352	317
Total assets	14,655	14,151
Liabilities and shareholders’ equity
Unearned premium reserve	3,748	3,511
Loss and loss adjustment expense reserve	1,268	1,127
Reinsurance balances payable, net	54	64
Long-term debt	1,294	1,306
Credit derivative liabilities	367	402
Current income tax payable	96	0
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	689	807
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	131	151
Other liabilities	258	279
Total liabilities	7,905	7,647
Commitments and contingencies (See Note 14)
Common stock ($0.01 par value, 500,000,000 shares authorized; 119,668,859 and 127,988,230 shares issued and outstanding)	1	1
Additional paid-in capital	711	1,060
Retained earnings	5,722	5,289
Accumulated other comprehensive income, net of tax of $146 and $70	315	149
Deferred equity compensation	1	5
Total shareholders’ equity	6,750	6,504
Total liabilities and shareholders’ equity	$ 14,655	$ 14,151