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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 8,893 $ 675
Fiduciary cash 2,026 1,827
Commission, fees and other receivables 1,055 895
Fiduciary receivables 1,212 1,116
Reinsurance recoverable 385 1,527
Prepaid reinsurance premiums 529 520
Other current assets 343 364
Total current assets 14,443 6,924
Fixed assets, net 334 319
Operating lease assets 198 200
Goodwill 8,365 7,970
Amortizable intangible assets, net 1,866 1,814
Other assets 430 385
Total assets 25,636 17,612
Current Liabilities:    
Fiduciary liabilities 3,238 2,943
Losses and loss adjustment reserve 400 1,543
Unearned premiums 632 577
Accounts payable 382 373
Accrued expenses and other liabilities 530 653
Current portion of long-term debt 75 225
Total current liabilities 5,257 6,314
Long-term debt less unamortized discount and debt issuance costs 7,470 3,599
Operating lease liabilities 186 189
Deferred income taxes, net 721 711
Other liabilities 385 362
Equity:    
Common stock, par value $0.10 per share; authorized 560 shares; issued 350 shares and outstanding 330 shares at 2025, issued 306 shares and outstanding 286 shares at 2024, respectively 35 31
Additional paid-in capital 5,441 1,118
Treasury stock, at cost 20 shares at 2025 and 2024 (748) (748)
Accumulated other comprehensive income/(loss) 262 (109)
Non-controlling interests 23 17
Retained earnings 6,604 6,128
Total equity 11,617 6,437
Total liabilities and equity $ 25,636 $ 17,612