Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Investment portfolio:
Fixed-maturity securities, available-for-sale, at fair value (amortized cost of $9,590 and $9,884)	$ 9,989	$ 10,089
Short-term investments, at fair value	727	729
Other invested assets	61	55
Total investment portfolio	10,777	10,873
Cash	123	104
Premiums receivable, net of commissions payable	897	904
Deferred acquisition costs	104	105
Salvage and subrogation recoverable	522	490
Financial guaranty variable interest entities’ assets, at fair value	560	569
Other assets	568	558
Total assets	13,551	13,603
Liabilities and shareholders’ equity
Unearned premium reserve	3,437	3,512
Loss and loss adjustment expense reserve	1,032	1,177
Long-term debt	1,232	1,233
Credit derivative liabilities	229	209
Financial guaranty variable interest entities’ liabilities with recourse, at fair value	505	517
Financial guaranty variable interest entities’ liabilities without recourse, at fair value	104	102
Other liabilities	343	298
Total liabilities	6,882	7,048
Commitments and contingencies (see Note 12)
Common stock ($0.01 par value, 500,000,000 shares authorized; 102,270,409 and 103,672,592 shares issued and outstanding)	1	1
Additional paid-in capital	0	86
Retained earnings	6,406	6,374
Accumulated other comprehensive income, net of tax of $63 and $38	261	93
Deferred equity compensation	1	1
Total shareholders’ equity	6,669	6,555
Total liabilities and shareholders’ equity	$ 13,551	$ 13,603