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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost of $40,078 and $35,603) $ 42,148 $ 35,652
Fixed maturities, at fair value using the fair value option 11 22
Equity securities, at fair value 1,657 1,214
Mortgage loans (net of allowances for loan losses of $0 and $1) 4,215 3,704
Limited partnerships and other alternative investments 1,758 1,723
Other investments 320 192
Short-term investments 2,921 4,283
Total investments 53,030 46,790
Cash 185 112
Restricted Cash 77 9
Premiums receivable and agents’ balances, net 4,384 3,995
Reinsurance recoverables, net 5,527 4,357
Deferred policy acquisition costs 785 670
Deferred income taxes, net 299 1,248
Goodwill 1,913 1,290
Property and equipment, net 1,181 1,006
Other intangible assets, net 1,070 657
Other assets 2,366 2,173
Total assets 70,817 62,307
Liabilities    
Unpaid losses and loss adjustment expenses 36,517 33,029
Reserve for future policy benefits 635 642
Other policyholder funds and benefits payable 755 767
Unearned premiums 6,635 5,282
Short-term debt 500 413
Long-term debt 4,348 4,265
Other liabilities 5,157 4,808
Total liabilities 54,547 49,206
Commitments and Contingencies (Note 14)
Stockholders’ Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at December 31, 2019 and December 31, 2018, aggregate liquidation preference of $345 334 334
Common stock, $0.01 par value — 1,500,000,000 shares authorized, 384,923,222 shares issued at December 31, 2019 and December 31, 2018 4 4
Additional paid-in capital 4,312 4,378
Retained earnings 12,685 11,055
Treasury stock, at cost — 25,352,977 and 25,772,238 shares (1,117) (1,091)
Accumulated other comprehensive income (loss), net of tax 52 (1,579)
Total stockholders' equity 16,270 13,101
Total liabilities and stockholders’ equity 70,817 62,307
Debt Securities, Available-for-sale, Amortized Cost 40,078 35,603
Allowance for Loan and Lease Losses, Real Estate $ 0 $ 1
Preferred Stock, Shares Issued 13,800,000 13,800
Preferred Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Preferred Stock, Shares Authorized 50,000,000 50,000,000
Preferred Stock, Liquidation Preference, Value $ 345 $ 0
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common Stock, Shares Authorized 1,500,000,000 1,500,000,000
Common Stock, Shares, Issued 384,923,222 384,923,222.00
Treasury Stock, Shares 25,352,977 25,772,238