Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $10,006 and $10,187)	$ 10,192	$ 10,674
Short-term investments, at fair value	738	627
Other invested assets	95	94
Total investment portfolio	11,025	11,395
Cash	82	144
Premiums receivable, net of commissions payable	916	915
Ceded unearned premium reserve	61	119
Deferred acquisition costs	103	101
Salvage and subrogation recoverable	471	572
Financial guaranty variable interest entities’ assets, at fair value	596	700
Other assets	485	487
Total assets	13,739	14,433
Liabilities and shareholders’ equity
Unearned premium reserve	3,538	3,475
Loss and loss adjustment expense reserve	1,147	1,444
Long-term debt	1,249	1,292
Credit derivative liabilities	239	271
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	545	627
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	104	130
Other liabilities	334	355
Total liabilities	7,156	7,594
Commitments and contingencies (see Note 14)
Common stock ($0.01 par value, 500,000,000 shares authorized; 106,637,701 and 116,020,852 shares issued and outstanding)	1	1
Additional paid-in capital	200	573
Retained earnings	6,303	5,892
Accumulated other comprehensive income, net of tax of $33 and $89	78	372
Deferred equity compensation	1	1
Total shareholders’ equity	6,583	6,839
Total liabilities and shareholders’ equity	$ 13,739	$ 14,433