Unaudited Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Investments:
Debt securities available for sale, at fair value	$ 34,259	$ 29,819
Equity securities, at fair value	1,805	1,675
Other investments, at fair value	3,027	3,066
Investments accounted for using the equity method	6,232	5,980
Total investments	45,323	40,540
Cash	1,063	979
Accrued investment income	307	298
Investment in operating affiliates	1,417	1,240
Premiums receivable (net of allowance for credit losses: $54 and $45)	6,450	5,634
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses (net of allowance for credit losses: $19 and $17)	9,070	8,260
Contractholder receivables (net of allowance for credit losses: $6 and $5)	2,287	2,161
Ceded unearned premiums	3,079	2,428
Deferred acquisition costs	1,786	1,734
Receivable for securities sold	695	50
Goodwill and intangible assets	1,268	1,351
Other assets	6,440	6,231
Total assets	79,185	70,906
Liabilities
Reserve for losses and loss adjustment expenses	32,822	29,369
Unearned premiums	11,124	10,218
Reinsurance balances payable	2,638	2,137
Contractholder payables	2,293	2,165
Collateral held for insured obligations	239	249
Senior notes	2,728	2,728
Payable for securities purchased	335	181
Other liabilities	3,287	3,039
Total liabilities	55,466	50,086
Commitments and contingencies (refer to Note 11)
Shareholders' Equity
Non-cumulative preferred shares	830	830
Common shares ($0.0011 par, shares issued: 599.2 and 595.6)	1	1
Additional paid-in capital	2,682	2,510
Retained earnings	25,817	22,686
Accumulated other comprehensive income (loss), net of deferred income tax	0	(720)
Common shares held in treasury, at cost (shares: 231.9 and 219.2)	(5,611)	(4,487)
Total shareholders' equity available to Arch	23,719	20,820
Total liabilities and shareholders' equity	79,185	70,906
Fixed maturities available for sale, at fair value (amortized cost: $31,821 and $27,570; net of allowance for credit losses: $21 and $22)
Investments:
Debt securities available for sale, at fair value	31,908	27,035
Short-term investments available for sale, at fair value (amortized cost: $2,350 and $2,784; net of allowance for credit losses: $0 and $0)
Investments:
Debt securities available for sale, at fair value	$ 2,351	$ 2,784