NET INVESTMENT INCOME AND INVESTMENT RELATED GAINS (LOSSES) (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Net Investment Income

Net investment income is shown below:

FOR THE YEARS ENDED DEC. 31 US$ MILLIONS	2023		2022		2021
Available-for-sale fixed maturity securities	$	830	$	560	$	56
Equity securities	25		6		—
Mortgage loans	325		208		3
Private loans	107		27		3
Investment funds	124		34		4
Policy loans	17		14		—
Short-term investments	221		58		2
Real estate and other invested assets	160		71		—
Equity accounted investments	—		—		8
Total net investment income	$	1,809	$	978	$	76

Schedule of Net Unrealized and Realized Investment Gains (Losses)

Net unrealized and realized investment gains (losses) are shown below:

FOR THE YEARS ENDED DEC. 31 US$ MILLIONS	2023		2022		2021
Available-for-sale fixed maturity securities	$	(105)	$	(110)	$	14
Equity securities and equity method discontinuation	372		(55)		(42)
Mortgage loans	(27)		(64)		(4)
Private loans	(13)		—		(12)
Short-term investments and other invested assets	307		44		(11)
Total investment related gains (losses), net	$	534	$	(185)	$	(55)