Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $9,884 and $10,187)	$ 10,089	$ 10,674
Short-term investments, at fair value	729	627
Other invested assets	55	94
Total investment portfolio	10,873	11,395
Cash	104	144
Premiums receivable, net of commissions payable	904	915
Ceded unearned premium reserve	59	119
Deferred acquisition costs	105	101
Salvage and subrogation recoverable	490	572
Financial guaranty variable interest entities’ assets, at fair value	569	700
Other assets	499	487
Total assets	13,603	14,433
Liabilities and shareholders’ equity
Unearned premium reserve	3,512	3,475
Loss and loss adjustment expense reserve	1,177	1,444
Long-term debt	1,233	1,292
Credit derivative liabilities	209	271
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	517	627
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	102	130
Other liabilities	298	355
Total liabilities	7,048	7,594
Commitments and contingencies (see Note 15)
Common stock ($0.01 par value, 500,000,000 shares authorized; 103,672,592 and 116,020,852 shares issued and outstanding)	1	1
Additional paid-in capital	86	573
Retained earnings	6,374	5,892
Accumulated other comprehensive income, net of tax of $38 and $89	93	372
Deferred equity compensation	1	1
Total shareholders’ equity	6,555	6,839
Total liabilities and shareholders’ equity	$ 13,603	$ 14,433