v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Investments:    
Fixed maturities, AFS, at fair value (amortized cost of $47,036 and $46,871, and ACL of $16 and $16) $ 45,824 $ 46,041
Fixed maturities, at fair value using the fair value option ("FVO Securities") 125 168
Equity securities, at fair value [1] 560 422
Mortgage loans (net of ACL of $49 and $49) 7,262 6,837
Limited partnerships and other alternative investments 6,135 5,804
Other investments 227 218
Short-term investments 3,866 4,004
Total investments 63,999 63,494
Cash 125 122
Restricted cash 78 44
Accrued Investment Income Receivable 487 473
Premiums receivable and agents' balances (net of ACL of $160 and $142) 7,009 6,316
Reinsurance recoverables (net of allowance for uncollectible reinsurance of $70 and $69) 7,037 7,191
Deferred policy acquisition costs 1,464 1,347
Deferred income taxes, net 1,207 937
Goodwill 1,639 1,639
Property and equipment, net 867 924
Other intangible assets, net 521 556
Other assets 2,649 2,122
Assets held for sale 901 864
Total assets 87,983 86,029
Liabilities    
Unpaid losses and loss adjustment expenses 47,146 46,268
Other policyholder funds and benefits payable 606 612
Unearned premiums 10,836 10,053
Long-term debt 4,374 4,371
Other liabilities 4,761 5,126
Liabilities held for sale 180 176
Total liabilities 68,350 67,050
Stockholders' Equity    
Preferred stock, $0.01 par value — 50,000,000 shares authorized, 13,800 shares issued at June 30, 2026 and December 31, 2025, aggregate liquidation preference of $345 334 334
Common Stock, Value, Issued 3 3
Additional paid-in capital 503 549
Retained earnings 26,553 24,739
Treasury Stock, Value (5,389) (4,589)
Accumulated other comprehensive income (loss) ("AOCI"), net of tax (2,371) (2,057)
Total stockholders’ equity 19,633 18,979
Total liabilities and stockholders’ equity $ 87,983 $ 86,029