v3.25.4
SCHEDULE II — CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT - CONDENSED BALANCE SHEETS (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
ASSETS:      
Other invested assets (cost: 2025, $207; 2024, $63) $ 5,796 $ 5,392  
Short-term investments 2,994 4,707  
Cash 1,318 1,549  
Income tax asset, net 915 1,223  
Other assets 1,372 1,171  
TOTAL ASSETS 62,514 56,341  
LIABILITIES:      
Other liabilities 797 590  
TOTAL LIABILITIES 47,054 42,466  
SHAREHOLDERS' EQUITY:      
Preferred shares, par value: $0.01; 50.0 shares authorized; no shares issued and outstanding 0 0  
Common shares, par value: $0.01; 200.0 shares authorized; (2025) 74.4 and (2024) 74.3 outstanding before treasury shares 1 1  
Additional paid-in capital 3,852 3,812  
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of ($23) at 2025 and $(177) at 2024 (52) (1,138)  
Treasury shares, at cost; 33.7 shares (2025) and 31.3 shares (2024) (4,906) (4,108)  
Retained earnings 16,565 15,309  
Total shareholders' equity 15,461 13,875 $ 13,202
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 62,514 56,341  
Parent Company      
ASSETS:      
Other invested assets (cost: 2025, $207; 2024, $63) 207 63  
Short-term investments 0 8  
Cash 6 5  
Investment in subsidiaries, at equity in the underlying net assets 16,648 15,329  
Long-term notes receivable, affiliated 600 600  
Receivable from subsidiaries 65 17  
Income tax asset, net 2 0  
Other assets 40 37  
TOTAL ASSETS 17,569 16,059  
LIABILITIES:      
Long-term notes payable, affiliated 2,073 2,173  
Due to subsidiaries 29 9  
Other liabilities 6 2  
TOTAL LIABILITIES 2,108 2,184  
SHAREHOLDERS' EQUITY:      
Preferred shares, par value: $0.01; 50.0 shares authorized; no shares issued and outstanding 0 0  
Common shares, par value: $0.01; 200.0 shares authorized; (2025) 74.4 and (2024) 74.3 outstanding before treasury shares 1 1  
Additional paid-in capital 3,852 3,812  
Accumulated other comprehensive income (loss), net of deferred income tax expense (benefit) of ($23) at 2025 and $(177) at 2024 (52) (1,138)  
Treasury shares, at cost; 33.7 shares (2025) and 31.3 shares (2024) (4,906) (4,108)  
Retained earnings 16,565 15,309  
Total shareholders' equity 15,461 13,875  
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,569 $ 16,059