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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
ASSETS:    
Fixed maturities- available for sale, at fair value (amortized cost: 2022, $13,207; 2021, $12,733, allowances for credit losses: 2022, ($30); 2021, ($27)) $ 12,070 $ 12,860
Fixed maturities - held to maturity, at amortized cost, net of credit allowances (fair value: 2022, $789, credit allowances: 2022, ($9)) 809
Equity securities, at fair value 1,258 1,758
Short-term investments (cost: 2022, $454; 2021, $696) 454 696
Other invested assets 1,797 1,675
Other invested assets, at fair value 1,680 2,031
Cash 878 699
Total investments and cash 18,946 19,719
Notes Receivable - affiliated 715 500
Accrued investment income 139 90
Premiums receivable 1,763 1,720
Reinsurance recoverables - unaffiliated 1,786 1,569
Reinsurance recoverables - affiliated 2,017 2,299
Funds held by reinsureds 291 299
Deferred acquisition costs 473 472
Prepaid reinsurance premiums 458 431
Income tax asset, net 379
Other assets 689 596
TOTAL ASSETS 27,656 27,695
LIABILITIES:    
Reserve for losses and loss adjustment expenses 14,849 13,121
Unearned premium reserve 3,145 2,993
Funds held under reinsurance treaties 47 48
Other net payable to reinsurers 432 392
Losses in course of payment 141 273
Income tax liability, net 246
Senior notes 2,347 2,346
Long term notes 218 224
Borrowings from FHLB 519 519
Accrued interest on debt and borrowings 39 17
Unsettled securities payable 109 15
Other liabilities 476 463
Total liabilities 22,322 20,657
Commitments and Contingencies (Note 6)
STOCKHOLDER'S EQUITY:    
Common stock, par value: $0.01; 3,000 shares authorized; 1,000 shares issued and outstanding (2022 and 2021)
Additional paid-in capital 1,102 1,102
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of ($262) at 2022 and $24 at 2021 (987) 91
Retained earnings 5,219 5,845
Total stockholder's equity 5,334 7,038
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY $ 27,656 $ 27,695