Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 2,810	$ 2,314
Investments:
Fixed maturities, available for sale at fair value (amortized cost — $40,408 and $44,524; allowance for expected credit losses of $40 at December 31, 2020)	43,207	46,505
Fixed maturities, trading at fair value	66	113
Equity securities, at fair value	1,663	1,937
Investments accounted for using the equity method	1,881	1,688
Mortgage loans	1,623	1,329
Policy loans	151	164
Equity index call options	825	924
Real estate and other investments	276	278
Total cash and investments	52,502	55,252
Prepaid reinsurance premiums	768	678
Agents’ balances and premiums receivable	1,231	1,335
Deferred policy acquisition costs	546	1,037
Assets of managed investment entities	73,566	70,130
Other receivables	959	975
Variable annuity assets (separate accounts)	664	628
Other assets	1,626	1,867
Goodwill	207	207
Total assets	73,566	70,130
Liabilities and Equity:
Unpaid losses and loss adjustment expenses	10,392	10,232
Unearned premiums	2,803	2,830
Annuity benefits accumulated	42,573	40,406
Life, accident and health reserves	607	612
Payable to reinsurers	807	814
Liabilities of managed investment entities	66,777	63,861
Long-term debt	1,963	1,473
Variable annuity liabilities (separate accounts)	664	628
Other liabilities	2,197	2,295
Total liabilities	66,777	63,861
Redeemable noncontrolling interests	0	0
Shareholders’ equity:
Common Stock, no par value — 200,000,000 shares authorized — 86,345,246 and 90,303,686 shares outstanding	86	90
Capital surplus	1,281	1,307
Retained earnings	4,149	4,009
Accumulated other comprehensive income, net of tax	1,273	863
Total shareholders’ equity	6,789	6,269
Noncontrolling interests	0	0
Total equity	6,789	6,269
Total liabilities and equity	73,566	70,130
Property and casualty insurance
Investments:
Recoverables from reinsurers:	3,288	3,133
Assets of managed investment entities	19,689	19,098
Goodwill	176	176
Total assets	19,689	19,098
Liabilities and Equity:
Unpaid losses and loss adjustment expenses	10,392
Fixed and indexed annuities
Investments:
Recoverables from reinsurers:	6,539	0
Assets of managed investment entities	47,626	45,074
Goodwill	31	31
Total assets	47,626	45,074
Other lines
Investments:
Recoverables from reinsurers:	265	282
Variable interest entity, primary beneficiary
Investments:
Assets of managed investment entities	4,971	4,736
Total assets	4,971	4,736
Liabilities and Equity:
Liabilities of managed investment entities	4,771	4,571
Total liabilities	$ 4,771	$ 4,571