Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Investments
Fixed maturities, at fair value (amortized cost: 2019—$11,108; 2018—$10,643)	$ 11,698	$ 10,689
Equity securities, at fair value (cost: 2019—$3,581; 2018—$3,368)	7,752	5,920
Other invested assets	296	123
Total investments	19,746	16,732
Cash and cash equivalents	767	784
Investment income receivable	133	132
Finance receivable	77	71
Premiums receivable	1,777	1,644
Reinsurance recoverable	610	484
Prepaid reinsurance premiums	54	44
Deferred policy acquisition costs	774	738
Land, building and equipment, net, for company use (accumulated depreciation: 2019—$276; 2018—$265)	207	195
Other assets	381	308
Separate accounts	882	803
Total assets	25,408	21,935
Insurance reserves
Loss and loss expense reserves	6,147	5,707
Life policy and investment contract reserves	2,835	2,779
Unearned premiums	2,788	2,516
Other liabilities	928	804
Deferred income tax	1,079	627
Note payable	39	32
Long-term debt and lease obligations	846	834
Separate accounts	882	803
Total liabilities	15,544	14,102
Commitments and contingent liabilities (Note 16)	0	0
Shareholders' Equity
Common stock, par value—$2 per share; (authorized: 2019 and 2018—500 million shares; issued: 2019 and 2018—198.3 million shares)	397	397
Paid-in capital	1,306	1,281
Retained earnings	9,257	7,625
Accumulated other comprehensive income	448	22
Treasury stock at cost (2019—35.4 million shares and 2018—35.5 million shares)	(1,544)	(1,492)
Total shareholders' equity	9,864	7,833
Total liabilities and shareholders' equity	$ 25,408	$ 21,935