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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2023
Dec. 31, 2022
ASSETS:    
Fixed maturities - available for sale, at fair value (amortized cost: 2023, $15,141; 2022, $13,699, credit allowances: 2023, $(57); 2022, $(46)) $ 14,202,000,000 $ 12,671,000,000
Fixed maturities - held to maturity, at amortized cost (fair value: 2023, $771; 2022, $793, net of credit allowances: 2023, $(8); 2022, $(9)) 788,000,000 811,000,000
Equity securities, at fair value 167,000,000 194,000,000
Other invested assets 2,853,000,000 2,754,000,000
Other invested assets, at fair value 1,474,000,000 1,472,000,000
Short-term investments 1,095,000,000 812,000,000
Cash 478,000,000 481,000,000
Total investments and cash 21,056,000,000 19,195,000,000
Accrued investment income 187,000,000 150,000,000
Premiums receivable (net of credit allowances:2023, $(22); 2022, $(21)) 2,084,000,000 1,721,000,000
Income tax asset, net 201,000,000 288,000,000
Funds held by reinsureds 295,000,000 303,000,000
Deferred acquisition costs 530,000,000 499,000,000
Prepaid reinsurance premiums 522,000,000 463,000,000
Other assets (net of credit allowances: 2023, $(7); 2022, $(5)) 830,000,000 722,000,000
TOTAL ASSETS 29,494,000,000 27,957,000,000
LIABILITIES:    
Reserve for losses and loss adjustment expenses 15,512,000,000 14,977,000,000
Unearned premium reserve 3,497,000,000 3,177,000,000
Funds held under reinsurance treaties 55,000,000 43,000,000
Amounts due to reinsurers 509,000,000 436,000,000
Losses in course of payment 72,000,000 77,000,000
Senior notes 2,348,000,000 2,347,000,000
Long-term notes 218,000,000 218,000,000
Borrowings from FHLB 519,000,000 519,000,000
Accrued interest on debt and borrowings 19,000,000 19,000,000
Unsettled securities payable 10,000,000 1,000,000
Other liabilities 446,000,000 489,000,000
Total liabilities 23,204,000,000 22,303,000,000
Commitments and Contingencies (Note 11)
STOCKHOLDER'S EQUITY:    
Common stock, par value: $0.01; 3,000 shares authorized; 1,000 shares issued and outstanding (2023 and 2022) 0 0
Additional paid-in capital 1,102,000,000 1,102,000,000
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of $(202) at 2023 and $(225) at 2022 (762,000,000) (848,000,000)
Retained earnings 5,950,000,000 5,400,000,000
Total stockholder's equity 6,290,000,000 5,654,000,000
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY 29,494,000,000 27,957,000,000
Affiliated Entity    
ASSETS:    
Notes receivable - affiliated 0 840,000,000
Reinsurance recoverables - affiliated 1,830,000,000 1,935,000,000
Nonrelated Party    
ASSETS:    
Reinsurance recoverables - affiliated $ 1,960,000,000 $ 1,841,000,000