Investments in fixed maturity securities

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Investments in fixed maturity securities

Note 4. Investments in fixed maturity securities

Investments in fixed maturity securities as of June 30, 2023 and December 31, 2022 are summarized by type below (in millions).

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
June 30, 2023
U.S. Treasury, U.S. government corporations and agencies	$	9,242	$	2	$	(192	)	$	9,052
Foreign governments		11,571		70		(160	)		11,481
Corporate bonds		1,333		228		(7	)		1,554
Other		250		20		(4	)		266
	$	22,396	$	320	$	(363	)	$	22,353
December 31, 2022
U.S. Treasury, U.S. government corporations and agencies	$	10,039	$	12	$	(249	)	$	9,802
Foreign governments		10,454		50		(177	)		10,327
Corporate bonds		1,945		256		(6	)		2,195
Other		2,735		77		(8	)		2,804
	$	25,173	$	395	$	(440	)	$	25,128

As of June 30, 2023, the fair value of investments in U.S. Treasury securities that mature in 2023 and 2024 was approximately $8.3 billion. As of June 30, 2023, approximately 94% 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 June 30, 2023 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	$	15,632	$	5,748	$	708	$	136	$	172	$	22,396
Fair value		15,452		5,654		916		145		186		22,353