XML 78 R66.htm IDEA: XBRL DOCUMENT v3.24.1.u1
FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation For All Levels (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Total gains and (losses), realized and unrealized, included in:    
Transfers into Level 3 $ 57 $ 0
Transfers out of Level 3 (88) (258)
Level 3 | Corporate    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning Balance 2,070 2,103
Total gains and (losses), realized and unrealized, included in:    
Investment gains (losses), reported in net investment income 2 1
Investment gains (losses), net (1) (3)
Subtotal 1 (2)
Other comprehensive income (loss) 10 18
Purchases 201 143
Sales (54) (90)
Activity related to consolidated VIEs/VOEs 0 0
Transfers into Level 3 57 0
Transfers out of Level 3 (47) (258)
Closing Balance 2,238 1,914
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 10 17
Level 3 | State and Political Subdivisions    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning Balance 27 29
Total gains and (losses), realized and unrealized, included in:    
Investment gains (losses), reported in net investment income 0 0
Investment gains (losses), net 0 0
Subtotal 0 0
Other comprehensive income (loss) 0 0
Purchases 0 0
Sales 0 (1)
Activity related to consolidated VIEs/VOEs 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 (27) 0
Closing Balance 0 28
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0
Level 3 | Asset-backed    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning Balance 24 0
Total gains and (losses), realized and unrealized, included in:    
Investment gains (losses), reported in net investment income 0 0
Investment gains (losses), net 0 0
Subtotal 0 0
Other comprehensive income (loss) 0 0
Purchases 23 12
Sales 0 0
Activity related to consolidated VIEs/VOEs 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 (14) 0
Closing Balance 33 12
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0
Level 3 | CMBS    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning Balance 6 32
Total gains and (losses), realized and unrealized, included in:    
Investment gains (losses), reported in net investment income 0 0
Investment gains (losses), net 0 0
Subtotal 0 0
Other comprehensive income (loss) 0 0
Purchases 0 2
Sales 0 0
Activity related to consolidated VIEs/VOEs 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Closing Balance 6 34
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0
Level 3 | Other equity investments    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning Balance 57 17
Total gains and (losses), realized and unrealized, included in:    
Investment gains (losses), reported in net investment income 1 (3)
Investment gains (losses), net 0 0
Subtotal 1 (3)
Other comprehensive income (loss) 0 0
Purchases 42 0
Sales (42) 0
Change in fair value of funds withheld assets 0  
Other 0 0
Activity related to consolidated VIEs/VOEs 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Closing Balance 58 14
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 (3)
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0
Level 3 | Separate Accounts Assets    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning Balance 0 1
Total gains and (losses), realized and unrealized, included in:    
Investment gains (losses), reported in net investment income 0 0
Investment gains (losses), net 0 0
Subtotal 0 0
Other comprehensive income (loss) 0 0
Purchases 1 0
Sales 0 0
Change in fair value of funds withheld assets 0  
Other 0 0
Activity related to consolidated VIEs/VOEs 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Closing Balance 1 1
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0
Level 3 | Funds Withheld Payable    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning Balance 100 0
Total gains and (losses), realized and unrealized, included in:    
Investment gains (losses), reported in net investment income 0 0
Investment gains (losses), net 0 0
Subtotal 0 0
Other comprehensive income (loss) 0 0
Purchases 0 0
Sales 0 0
Change in fair value of funds withheld assets (129)  
Other 0 0
Activity related to consolidated VIEs/VOEs 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Closing Balance (29) 0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0
Level 3 | Modco Payable    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning Balance (411) 0
Total gains and (losses), realized and unrealized, included in:    
Investment gains (losses), reported in net investment income 0 0
Investment gains (losses), net 0 0
Subtotal 0 0
Other comprehensive income (loss) 0 0
Purchases 0 0
Sales 0 0
Change in fair value of funds withheld assets 119  
Other 0 0
Activity related to consolidated VIEs/VOEs 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Closing Balance (292) 0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period $ 0 $ 0