Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $10,135 and $9,974)	$ 10,479	$ 10,233
Short-term investments, at fair value	689	590
Other invested assets	173	162
Total investment portfolio	11,341	10,985
Cash	147	118
Premiums receivable, net of commissions payable	876	576
Ceded unearned premium reserve	180	206
Deferred acquisition costs	106	106
Reinsurance recoverable on unpaid losses	74	80
Salvage and subrogation recoverable	405	365
Credit derivative assets	9	13
Deferred tax asset, net	438	497
Current income tax receivable	0	12
Financial guaranty variable interest entities’ assets, at fair value	781	876
Other assets	318	317
Total assets	14,675	14,151
Liabilities and shareholders’ equity
Unearned premium reserve	3,827	3,511
Loss and loss adjustment expense reserve	1,193	1,127
Reinsurance balances payable, net	52	64
Long-term debt	1,307	1,306
Credit derivative liabilities	359	402
Current income tax payable	63	0
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	721	807
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	134	151
Other liabilities	382	279
Total liabilities	8,038	7,647
Commitments and contingencies (See Note 14)
Common stock ($0.01 par value, 500,000,000 shares authorized; 123,028,528 and 127,988,230 shares issued and outstanding)	1	1
Additional paid-in capital	841	1,060
Retained earnings	5,588	5,289
Accumulated other comprehensive income, net of tax of $101 and $70	206	149
Deferred equity compensation	1	5
Total shareholders’ equity	6,637	6,504
Total liabilities and shareholders’ equity	$ 14,675	$ 14,151