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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 1,343 $ 2,294
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses 116 101
Market risk benefits (gains) losses 92 (21)
Amortization of premiums (discounts) on fixed maturities (100) (80)
Amortization of purchased intangibles 75 80
Equity in net income (loss) of partially-owned entities (82) (184)
Deferred income taxes (198) (24)
Unpaid losses and loss expenses 1,182 175
Unearned premiums 868 633
Future policy benefits 440 445
Insurance and reinsurance balances payable 305 155
Accounts payable, accrued expenses, and other liabilities (567) (267)
Income taxes 203 257
Insurance and reinsurance balances receivable (874) (586)
Reinsurance recoverable (127) 852
Deferred policy acquisition costs (428) (390)
Net sales (purchases) of investments by consolidated investment products (435) (404)
Other (247) 184
Net cash flows from operating activities 1,566 3,220
Cash flows from investing activities    
Purchases of fixed maturities available-for-sale (5,894) (8,617)
Purchases of equity securities (783) (752)
Sales of fixed maturities available-for-sale 2,660 4,368
Sales of equity securities 637 520
Maturities and redemptions of fixed maturities available-for-sale 2,902 2,149
Net change in short-term investments 773 (708)
Net derivative instruments settlements (21) (17)
Private equity contributions (879) (248)
Private equity distributions 222 177
Acquisition of subsidiaries 0 (236)
Cash And Cash Equivalents Increase (Decrease) Due To Consolidation And Deconsolidation Of Investment Products 16 0
Other (431) (382)
Net cash flows used for investing activities (798) (3,746)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 0 996
Dividends paid on Common Shares (366) (349)
Common Shares repurchased (691) (404)
Repayment of long-term debt (800) 0
Proceeds from share-based compensation plans 98 163
Policyholder contract deposits 242 336
Policyholder contract withdrawals (176) (245)
Third-party capital invested into consolidated investment products 559 509
Third-party capital distributed by consolidated investment products (242) (413)
Proceeds from issuance of repurchase agreements (810) (1,062)
Repayment of repurchase agreements (447) (984)
Other (112) (109)
Net cash flows from (used for) financing activities (1,125) 562
Effect of foreign currency rate changes on cash and restricted cash 58 (6)
Net increase (decrease) in cash and restricted cash (299) 30
Cash and restricted cash - beginning of period 2,549 2,621
Cash and restricted cash - end of period 2,250 2,651
Supplemental cash flow information    
Taxes paid 314 89
Interest paid $ 146 $ 112