Investment and derivative contract gains/losses (Tables)

6 Months Ended

Jun. 30, 2021

Investments Debt And Equity Securities [Abstract]

Summary of investment and derivative gains and losses

Investment and derivative contract gains/losses in the second quarter and first six months of 2021 and 2020 are summarized as follows (in millions).

	Second Quarter						First Six Months
	2021			2020			2021			2020
Investment gains (losses):
Equity securities:
Change in unrealized investment gains (losses) during the period on securities held at the end of the period	$	27,014		$	39,369		$	31,548		$	(18,377	)
Investment gains (losses) on securities sold during the period		144			(87	)		670			(11,233	)
		27,158			39,282			32,218			(29,610	)
Fixed maturity securities:
Gross realized gains		15			25			35			41
Gross realized losses		(12	)		(14	)		(13	)		(20	)
Other		12			(4	)		144			(4	)
Investment gains (losses)		27,173			39,289			32,384			(29,593	)
Derivative contract gains (losses)		221			796			710			(597	)
	$	27,394		$	40,085		$	33,094		$	(30,190	)

Derivative contracts outstanding

Information related to these contracts follows (dollars in millions).

	June 30, 2021		December 31, 2020
Balance sheet liabilities - at fair value	$	355	$	1,065
Notional value		9,809		10,991
Intrinsic value		72		727
Weighted average remaining life (in years)		0.8		1.2

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details