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SCHEDULE II – CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 972 $ (445) $ 800
Adjustments to reconcile net income to net cash provided by operating activities:      
Increase (decrease) in income taxes 27 (286) 100
Change in equity adjustments in limited partnerships (83) (90) (368)
Change in other assets and liabilities, net (274) (130) (10)
Amortization of bond premium (accrual of bond discount) (43) 22 31
Net (gains) losses on investments 180 982 (501)
Net cash provided by (used in) operating activities 2,374 2,146 2,625
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from fixed maturities matured/called/repaid - available for sale 1,206 1,399 2,330
Proceeds from fixed maturities sold - available for sale 2,546 2,645 961
Proceeds from equity securities sold 126 2,203 862
Distributions from other invested assets 127 135 127
Cost of fixed maturities acquired - available for sale (6,518) (5,928) (5,832)
Cost of equity securities acquired (14) (951) (1,052)
Cost of other invested assets acquired (611) (1,241) (430)
Net change in short-term investments (444) (113) 13
Net cash provided by (used in) investing activities (2,599) (2,329) (3,427)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of senior notes 0 0 968
Cost of debt repurchase 0 (6) 0
Net cash provided by (used in) financing activities 262 (43) 1,142
Cash, beginning of period 481 699 379
Cash, end of period 527 481 699
Parent Company      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) 972 (445) 800
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in (earnings) deficit of subsidiaries (987) (114) (551)
Dividends received from subsidiary 0 250 0
Increase (decrease) in income taxes (2) (173) (45)
Change in equity adjustments in limited partnerships (15) (37) (33)
Change in other assets and liabilities, net 2 (5) 40
Net (gains) losses on investments (10) 704 (329)
Net cash provided by (used in) operating activities (40) 180 (118)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additional investment in subsidiaries (502) (200) 88
Proceeds from fixed maturities matured/called/repaid - available for sale 0 0 0
Proceeds from fixed maturities sold - available for sale 0 244 0
Proceeds from equity securities sold 0 652 243
Distributions from other invested assets 171 1,362 2,014
Cost of fixed maturities acquired - available for sale 0 (134) (148)
Cost of equity securities acquired 0 (93) (516)
Cost of other invested assets acquired (156) (1,278) (2,076)
Net change in short-term investments (109) (24) 5
Proceeds from repayment of long term notes receivable - affiliated 865 400 0
(Issuance) of long term notes receivable - affiliated (230) (1,100) (470)
Net cash provided by (used in) investing activities 39 (171) (860)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of senior notes 0 0 968
Cost of debt repurchase 0 (6) 0
Net cash provided by (used in) financing activities 0 (6) 968
Net increase (decrease) in cash (1) 2 (10)
Cash, beginning of period 2 0 10
Cash, end of period $ 1 $ 2 $ 0