Investments in fixed maturity securities

3 Months Ended

Mar. 31, 2022

Investments Debt And Equity Securities [Abstract]

Investments in fixed maturity securities

Notes to Consolidated Financial Statements (Continued)

Note 3. Investments in fixed maturity securities

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

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
March 31, 2022
U.S. Treasury, U.S. government corporations and agencies	$	8,793	$	12	$	(97	)	$	8,708
Foreign governments		11,116		26		(62	)		11,080
Corporate bonds		1,268		324		(2	)		1,590
Other		308		34		(2	)		340
	$	21,485	$	396	$	(163	)	$	21,718
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 March 31, 2022, 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 March 31, 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	$	10,272	$	10,456	$	443	$	92	$	222	$	21,485
Fair value		10,250		10,370		734		112		252		21,718