Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Investments:
Fixed maturity securities at fair value (amortized cost of $45,458 and $44,668, less allowance for credit loss of $63 and $69)	$ 43,882	$ 43,402
Equity securities at fair value (cost of $760 and $728)	793	769
Limited partnership investments	2,904	2,772
Other invested assets	119	105
Mortgage loans (less allowance for credit loss of $15 and $15)	1,037	1,079
Short-term investments	1,721	2,320
Total investments	50,456	50,447
Cash	339	425
Reinsurance receivables (less allowance for uncollectible receivables of $27 and $27)	6,497	6,381
Insurance receivables (less allowance for uncollectible receivables of $25 and $25)	4,199	3,739
Accrued investment income	487	480
Deferred acquisition costs	1,026	986
Deferred income taxes	576	575
Property and equipment at cost (less accumulated depreciation of $339 and $346)	291	282
Goodwill	147	148
Deferred non-insurance warranty acquisition expense	2,981	3,220
Other assets	2,875	2,760
Total assets	69,874	69,443
Insurance reserves:
Claim and claim adjustment expenses	27,490	26,599
Unearned premiums	8,035	7,635
Future policy benefits	13,262	13,448
Long-term debt	2,973	2,971
Deferred non-insurance warranty revenue	3,798	4,138
Other liabilities (includes $54 and $54 due to Loews Corporation)	3,130	3,031
Total liabilities	58,688	57,822
Commitments and contingencies (Notes C and G)
Stockholders' Equity
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 270,598,685 and 270,671,747 shares outstanding)	683	683
Additional paid-in capital	2,199	2,229
Retained earnings	9,637	9,915
Accumulated other comprehensive loss	(1,216)	(1,098)
Treasury stock (2,441,558 and 2,368,496 shares), at cost	(117)	(108)
Total stockholders’ equity	11,186	11,621
Total liabilities and stockholders' equity	$ 69,874	$ 69,443