XML 25 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income attributable to common shareholders $ (33) $ 2
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest (1) 0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total (33) 2
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 0 0
Amortization of bond premium and discount (3) (3)
Share-based compensation 3 5
Unearned premiums, net 6 (11)
Losses and loss expenses, net 143 (6)
Ceded premiums payable (1) 7
Premium receivables (3) 6
Accrued interest payable (37) 24
Amortization of Intangible Assets 7 14
Net investment gains (losses), including impairments 4 (10)
Variable interest entity activities 1 (22)
Derivative assets and liabilities 14 (46)
Other, net (25) 48
Net Cash Provided by (Used in) Operating Activities, Total 77 9
Proceeds from Sale of Debt Securities, Available-for-Sale 63 141
Net Cash Provided by (Used in) Investing Activities [Abstract]    
Proceeds from matured bonds 6 20
Purchases of bonds (104) (33)
Proceeds from sales of other invested assets 41 45
Purchases of other invested assets (14) (25)
Change in short-term investments 146 (114)
Change in cash collateral (16) 54
Proceeds from paydowns of consolidated VIE assets 57 47
Other, net 8 0
Net cash provided by investing activities 441 136
Net Cash Provided by (Used in) Financing Activities [Abstract]    
Tax payments related to shares withheld for share-based compensation plans (5) (3)
Proceeds from (Payments to) Noncontrolling Interests 0 0
Payments of consolidated VIE liabilities (174) (49)
Net cash used in financing activities (276) (52)
Effect of foreign exchange on cash, cash equivalents and restricted cash 0 0
Net cash flow 243 93
Cash, cash equivalents, and restricted cash at beginning of period 61 23
Cash, cash equivalents, and restricted cash at end of period 304 116
Change in cash collateral (16) 54
Tier 2 Notes    
Net Cash Provided by (Used in) Financing Activities [Abstract]    
Repayments of Secured Debt (97) 0
Repayments of Secured Debt 97 0
Variable Interest Entity, Primary Beneficiary [Member]    
Net Cash Provided by (Used in) Investing Activities [Abstract]    
Change in cash collateral 254 0
Change in cash collateral $ 254 $ 0