Held-For-Sale Classification (Tables)

9 Months Ended

Sep. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the components of assets and liabilities held-for-sale on the Condensed Consolidated Balance Sheets at September 30, 2023 after elimination of intercompany balances:

(in millions)		Validus Re		AIG Life		Laya and Other		Total
Assets:
Bonds available for sale	$	3,822	$	137	$	—	$	3,959
Other invested assets		5		—		—		5
Short-term investments, including restricted cash of $262		1,478		32		76		1,586
Cash		176		2		15		193
Accrued investment income		21		3		—		24
Premiums and other receivables, net of allowance for credit losses and disputes		3,195		127		15		3,337
Reinsurance assets - other, net of allowance for credit losses and disputes		1,759		794		—		2,553
Deferred income taxes		23		35		1		59
Deferred policy acquisition costs		623		755		—		1,378
Other assets, net of allowance for credit losses(a)		676		109		139		924
Total assets held for sale	$	11,778	$	1,994	$	246	$	14,018
Liabilities:
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses	$	5,046	$	—	$	—	$	5,046
Unearned premiums		2,504		71		—		2,575
Future policy benefits for life and accident and health insurance contracts		—		592		—		592
Other policyholder funds		—		—		40		40
Other liabilities		910		918		36		1,864
Total liabilities held for sale	$	8,460	$	1,581	$	76	$	10,117

(a)Other assets, net of allowance for credit losses includes goodwill and other intangibles of $318 million and $235 million, respectively, for Validus Re, $23 million and $3 million, respectively, for AIG Life and $30 million and $10 million, respectively, for Laya and other.