Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $10,045 and $9,974)	$ 10,546	$ 10,233
Short-term investments, at fair value	949	590
Other invested assets	96	162
Total investment portfolio	11,591	10,985
Cash	72	118
Premiums receivable, net of commissions payable	922	576
Ceded unearned premium reserve	108	206
Deferred acquisition costs	105	106
Reinsurance recoverable on unpaid losses	39	80
Salvage and subrogation recoverable	497	365
Credit derivative assets	3	13
Deferred tax asset, net	135	497
Current income tax receivable	72	12
Financial guaranty variable interest entities’ assets, at fair value	707	876
Other assets	398	317
Total assets	14,649	14,151
Liabilities and shareholders’ equity
Unearned premium reserve	3,597	3,511
Loss and loss adjustment expense reserve	1,326	1,127
Reinsurance balances payable, net	45	64
Long-term debt	1,292	1,306
Credit derivative liabilities	305	402
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	657	807
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	111	151
Other liabilities	438	279
Total liabilities	7,771	7,647
Commitments and contingencies (See Note 14)
Common stock ($0.01 par value, 500,000,000 shares authorized; 117,937,242 and 127,988,230 shares issued and outstanding)	1	1
Additional paid-in capital	637	1,060
Retained earnings	5,913	5,289
Accumulated other comprehensive income, net of tax of $148 and $70	326	149
Deferred equity compensation	1	5
Total shareholders’ equity	6,878	6,504
Total liabilities and shareholders’ equity	$ 14,649	$ 14,151