Investments in fixed maturity securities

9 Months Ended

Sep. 30, 2022

Investments Debt And Equity Securities [Abstract]

Investments in fixed maturity securities

Note 3. Investments in fixed maturity securities

Investments in fixed maturity securities as of September 30, 2022 and December 31, 2021 are summarized by type below (in millions).

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
September 30, 2022
U.S. Treasury, U.S. government corporations and agencies	$	9,039	$	4	$	(268	)	$	8,775
Foreign governments		8,701		9		(205	)		8,505
Corporate bonds		830		205		(6	)		1,029
Other		275		22		(4	)		293
	$	18,845	$	240	$	(483	)	$	18,602
December 31, 2021
U.S. Treasury, U.S. government corporations and agencies	$	3,286	$	22	$	(5	)	$	3,303
Foreign governments		10,998		29		(33	)		10,994
Corporate bonds		1,363		412		(1	)		1,774
Other		317		47		(1	)		363
	$	15,964	$	510	$	(40	)	$	16,434

Investments in foreign governments include securities issued by national and provincial government entities as well as instruments that are unconditionally guaranteed by such entities. As of September 30, 2022, approximately 93% of our foreign government holdings were rated AA or higher by at least one of the major rating agencies. The amortized cost and estimated fair value of fixed maturity securities at September 30, 2022 are summarized below by contractual maturity dates. Amounts are in millions. Actual maturities may differ from contractual maturities due to prepayment rights held by issuers.

	Due in one year or less		Due after one year through five years		Due after five years through ten years		Due after ten years		Mortgage- backed securities		Total
Amortized cost	$	7,904	$	10,201	$	460	$	82	$	198	$	18,845
Fair value		7,753		9,895		654		85		215		18,602