Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $9,957 and $10,187)	$ 10,225	$ 10,674
Short-term investments, at fair value	911	627
Other invested assets	102	94
Total investment portfolio	11,238	11,395
Cash	185	144
Premiums receivable, net of commissions payable	932	915
Ceded unearned premium reserve	66	119
Deferred acquisition costs	102	101
Salvage and subrogation recoverable	425	572
Financial guaranty variable interest entities’ assets, at fair value	627	700
Other assets	557	487
Total assets	14,132	14,433
Liabilities and shareholders’ equity
Unearned premium reserve	3,635	3,475
Loss and loss adjustment expense reserve	1,327	1,444
Long-term debt	1,264	1,292
Credit derivative liabilities	258	271
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	571	627
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	108	130
Other liabilities	335	355
Total liabilities	7,498	7,594
Commitments and contingencies (see Note 14)
Common stock ($0.01 par value, 500,000,000 shares authorized; 109,614,214 and 116,020,852 shares issued and outstanding)	1	1
Additional paid-in capital	321	573
Retained earnings	6,159	5,892
Accumulated other comprehensive income, net of tax of $49 and $89	152	372
Deferred equity compensation	1	1
Total shareholders’ equity	6,634	6,839
Total liabilities and shareholders’ equity	$ 14,132	$ 14,433