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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured on a recurring basis [Table Text Block] The following tables present the level within the fair value hierarchy at which the Company’s financial assets and financial liabilities are measured on a recurring basis.
(at June 30, 2023, in millions)TotalLevel 1Level 2Level 3
Invested assets:    
Fixed maturities    
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$6,074 $6,074 $ $ 
Obligations of U.S. states, municipalities and political subdivisions29,429  29,429  
Debt securities issued by foreign governments1,028  1,028  
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
4,252  4,252  
Corporate and all other bonds32,429  32,160 269 
Total fixed maturities73,212 6,074 66,869 269 
Equity securities    
Common stock541 532  9 
Non-redeemable preferred stock46 15 3 28 
Total equity securities587 547 3 37 
Other investments17 16  1 
Total$73,816 $6,637 $66,872 $307 

(at December 31, 2022, in millions)TotalLevel 1Level 2Level 3
Invested assets:    
Fixed maturities    
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$5,438 $5,438 $— $— 
Obligations of U.S. states, municipalities and political subdivisions31,379 — 31,379 — 
Debt securities issued by foreign governments994 — 994 — 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
1,991 — 1,991 — 
Corporate and all other bonds31,358 — 31,055 303 
Total fixed maturities71,160 5,438 65,419 303 
Equity securities    
Common stock763 418 — 345 
Non-redeemable preferred stock44 15 26 
Total equity securities807 433 371 
Other investments16 15 — 
Total$71,983 $5,886 $65,422 $675 
Other liabilities$$— $— $
Carrying value and fair value of the Company's financial assets and financial liabilities disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such assets and liabilities are categorized [Table Text Block]
The following tables present the carrying value and fair value of the Company’s financial assets and financial liabilities disclosed, but not carried, at fair value, and the level within the fair value hierarchy at which such assets and liabilities are categorized.
(at June 30, 2023, in millions)Carrying
Value
Fair
Value
Level 1Level 2Level 3
Financial assets     
Short-term securities$3,892 $3,892 $1,075 $2,767 $50 
Financial liabilities     
Debt$7,931 $7,402 $ $7,402 $ 
Commercial paper100 100  100  
 
(at December 31, 2022, in millions)Carrying
Value
Fair
Value
Level 1Level 2Level 3
Financial assets     
Short-term securities$3,470 $3,470 $871 $2,546 $53 
Financial liabilities     
Debt$7,192 $6,509 $— $6,509 $— 
Commercial paper100 100 — 100 —