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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
ASSETS:    
Fixed maturities - available for sale, at fair value (amortized cost: 2023, $16,304; 2022,$13,699, credit allowances: 2023, $(48); 2022, $(46)) $ 15,932,000,000 $ 12,671,000,000
Fixed maturities - held to maturity, at amortized cost (fair value: 2023, $850; 2022, $793 net of credit allowances: 2023, $(8); 2022, $(9)) 851,000,000 811,000,000
Equity securities, at fair value 91,000,000 194,000,000
Other invested assets 3,259,000,000 2,754,000,000
Other invested assets, at fair value 1,481,000,000 1,472,000,000
Short-term investments 1,298,000,000 812,000,000
Cash 527,000,000 481,000,000
Total investments and cash 23,439,000,000 19,195,000,000
Accrued investment income 222,000,000 150,000,000
Premiums receivable (net of credit allowances: 2023, $(28); 2022, $(21)) 2,245,000,000 1,721,000,000
Income tax asset, net 141,000,000 288,000,000
Funds held by reinsureds 306,000,000 303,000,000
Deferred acquisition costs 659,000,000 499,000,000
Prepaid reinsurance premiums 490,000,000 463,000,000
Other assets (net of credit allowances: 2023, $(9); 2022, $(5)) 774,000,000 722,000,000
TOTAL ASSETS 31,638,000,000 27,957,000,000
LIABILITIES:    
Reserve for losses and loss adjustment expenses 15,796,000,000 14,977,000,000
Unearned premium reserve 3,886,000,000 3,177,000,000
Funds held under reinsurance treaties 54,000,000 43,000,000
Amounts due to reinsurers 488,000,000 436,000,000
Losses in course of payment 139,000,000 77,000,000
Income tax liability, net 29,000,000 0
Senior notes 2,349,000,000 2,347,000,000
Long-term notes 218,000,000 218,000,000
Borrowings from FHLB 819,000,000 519,000,000
Accrued interest on debt and borrowings 22,000,000 19,000,000
Unsettled securities payable 126,000,000 1,000,000
Other liabilities 526,000,000 489,000,000
TOTAL LIABILITIES 24,451,000,000 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 $(76) at 2023 and $(225) at 2022 (287,000,000) (848,000,000)
Retained earnings 6,372,000,000 5,400,000,000
Total stockholder's equity 7,187,000,000 5,654,000,000
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY 31,638,000,000 27,957,000,000
Affiliated Entity    
ASSETS:    
Notes receivable - affiliated 0 840,000,000
Reinsurance recoverables 1,547,000,000 1,935,000,000
Unaffiliated Party    
ASSETS:    
Reinsurance recoverables $ 1,816,000,000 $ 1,841,000,000