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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Investments:    
Fixed maturities, AFS, at fair value (amortized cost of $40,018 and $39,533, and ACL of $17 and $12) $ 37,444 $ 36,231
Fixed maturities, at fair value using the fair value option ("FVO") 326 333
Equity securities, at fair value 1,301 1,801
Mortgage loans (net of ACL of $36 and $36) 6,047 6,000
Limited partnerships and other alternative investments 4,315 4,177
Other investments 174 159
Short-term investments 4,060 3,859
Total investments 53,667 52,560
Cash 152 229
Restricted cash 66 115
Premiums receivable and agents' balances (net of ACL of $111 and $109) 5,271 4,949
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $105 and $105) 6,930 6,964
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $105 and $105) 105 105
Deferred policy acquisition costs 1,055 998
Deferred income taxes, net 1,260 1,437
Goodwill 1,911 1,911
Property and equipment, net 904 927
Other intangible assets, net 760 778
Other assets 2,273 2,140
Total assets 74,249 73,008
Liabilities    
Unpaid losses and loss adjustment expenses 41,582 41,243
Other policyholder funds and benefits payable 647 658
Unearned premiums 8,247 7,815
Long-term debt 4,358 4,357
Other liabilities 4,567 4,757
Total liabilities 59,909 59,332
Stockholders' Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at March 31, 2023 and December 31, 2022, aggregate liquidation preference of $345 $ 334 $ 334
Common Stock, Shares Authorized 1,500,000,000 1,500,000,000
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common Stock, Value, Issued $ 3 $ 3
Additional paid-in capital 1,847 1,895
Retained earnings 17,454 17,058
Treasury Stock, Value (2,044) (1,773)
Accumulated other comprehensive income (loss) ("AOCI"), net of tax (3,254) (3,841)
Total stockholders’ equity 14,340 13,676
Total liabilities and stockholders’ equity $ 74,249 $ 73,008
Common Stock, Shares, Issued 344,960,228 344,960,228
Treasury Stock, Common, Shares 33,180,509 29,848,980