Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $10,187 and $9,974)	$ 10,674	$ 10,233
Short-term investments, at fair value	627	590
Other invested assets	94	162
Total investment portfolio	11,395	10,985
Cash	144	118
Premiums receivable, net of commissions payable	915	576
Ceded unearned premium reserve	119	206
Deferred acquisition costs	101	106
Reinsurance recoverable on unpaid losses	44	80
Salvage and subrogation recoverable	572	365
Credit derivative assets	2	13
Deferred tax asset, net	98	497
Current income tax receivable	21	12
Financial guaranty variable interest entities’ assets, at fair value	700	876
Other assets	322	317
Total assets	14,433	14,151
Liabilities and shareholders’ equity
Unearned premium reserve	3,475	3,511
Loss and loss adjustment expense reserve	1,444	1,127
Reinsurance balances payable, net	61	64
Long-term debt	1,292	1,306
Credit derivative liabilities	271	402
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	627	807
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	130	151
Other liabilities	294	279
Total liabilities	7,594	7,647
Commitments and contingencies (see Note 15)
Common stock ($0.01 par value, 500,000,000 shares authorized; 116,020,852 and 127,988,230 shares issued and outstanding)	1	1
Additional paid-in capital	573	1,060
Retained earnings	5,892	5,289
Accumulated other comprehensive income, net of tax of $89 and $70	372	149
Deferred equity compensation	1	5
Total shareholders’ equity	6,839	6,504
Total liabilities and shareholders’ equity	$ 14,433	$ 14,151