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Investments (Tables)
 12 Months Ended
Dec. 31, 2024
Investments [Abstract]  
Amortized cost and fair value of investments in fixed maturities [Table Text Block]
The amortized cost and fair value of investments in fixed maturities classified as available for sale were as follows:
Amortized CostAllowance for Expected Credit LossesGross UnrealizedFair Value
(at December 31, 2024, in millions)GainsLosses
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$5,735 $— $4 $169 $5,570 
Obligations of U.S. states, municipalities and political subdivisions:
Local general obligation18,604 — 23 1,604 17,023 
Revenue9,268 — 16 704 8,580 
State general obligation1,081 — 2 73 1,010 
Pre-refunded573 — 2 3 572 
Total obligations of U.S. states, municipalities and political subdivisions29,526 — 43 2,384 27,185 
Debt securities issued by foreign governments917 — 5 13 909 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
12,888 — 53 336 12,605 
Corporate and all other bonds39,211 2 118 1,930 37,397 
Total$88,277 $2 $223 $4,832 $83,666 
Amortized CostAllowance for Expected Credit LossesGross UnrealizedFair Value
(at December 31, 2023, in millions)GainsLosses
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$6,591 $— $8 $231 $6,368 
Obligations of U.S. states, municipalities and political subdivisions:
Local general obligation18,374 — 90 1,265 17,199 
Revenue9,748 — 52 616 9,184 
State general obligation1,209 — 7 59 1,157 
Pre-refunded963 — 5 2 966 
Total obligations of U.S. states, municipalities and political subdivisions30,294 — 154 1,942 28,506 
Debt securities issued by foreign governments1,035 — 2 31 1,006 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
7,874 — 120 176 7,818 
Corporate and all other bonds35,987 5 187 2,060 34,109 
Total$81,781 $5 $471 $4,440 $77,807 
Amortized cost and fair value of fixed maturities by contractual maturity [Table Text Block]
The amortized cost and fair value of fixed maturities by contractual maturity follow. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(at December 31, 2024, in millions)Amortized
Cost		Fair
Value
Due in one year or less$7,357 $7,328 
Due after 1 year through 5 years23,640 22,965 
Due after 5 years through 10 years22,647 20,897 
Due after 10 years21,745 19,871 
75,389 71,061 
Mortgage-backed securities, collateralized mortgage obligations
 and pass-through securities
12,888 12,605 
Total$88,277 $83,666 
Cost and fair value of investments in equity securities [Table Text Block]
The cost and fair value of investments in equity securities were as follows:
(at December 31, 2024, in millions)CostGross GainsGross LossesFair Value
Common stock$500 $150 $11 $639 
Non-redeemable preferred stock44 4 — 48 
Total$544 $154 $11 $687 
(at December 31, 2023, in millions)CostGross GainsGross LossesFair Value
Common stock$508 $93 $41 $560 
Non-redeemable preferred stock45 3 — 48 
Total$553 $96 $41 $608 
Unrealized investment losses [Table Text Block]
The following tables summarize, for all fixed maturities classified as available for sale in an unrealized loss position at December 31, 2024 and 2023, the aggregate fair value and gross unrealized loss by the length of time those securities have been continuously in an unrealized loss position.  The fair value amounts reported in the tables are estimates that are prepared using the process described in note 4.  The Company also relies upon estimates of several factors in its review and evaluation of individual investments, using the process described in note 1, in determining whether a credit loss impairment exists.
Less than 12 months12 months or longerTotal
(at December 31, 2024, in millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$557 $1 $2,830 $168 $3,387 $169 
Obligations of U.S. states, municipalities and political subdivisions8,584 160 15,007 2,224 23,591 2,384 
Debt securities issued by foreign governments
113 1 454 12 567 13 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
7,359 148 1,419 188 8,778 336 
Corporate and all other bonds7,341 144 21,999 1,786 29,340 1,930 
Total $23,954 $454 $41,709 $4,378 $65,663 $4,832 
Less than 12 months12 months or longerTotal
(at December 31, 2023, in millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$1,864 $7 $2,985 $224 $4,849 $231 
Obligations of U.S. states, municipalities and political subdivisions3,868 31 14,351 1,911 18,219 1,942 
Debt securities issued by foreign governments
30 — 763 31 793 31 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
1,215 9 1,433 167 2,648 176 
Corporate and all other bonds1,016 9 26,444 2,051 27,460 2,060 
Total $7,993 $56 $45,976 $4,384 $53,969 $4,440 
Gross unrealized investment losses on securities continuously in an unrealized loss position of greater than 20% of amortized cost by length of time [Table Text Block]
The following tables summarize, for all fixed maturities reported at fair value for which fair value was less than 80% of amortized cost at December 31, 2024 and 2023, the gross unrealized investment loss by length of time those securities have continuously been in an unrealized loss position of greater than 20% of amortized cost:
 Period For Which Fair Value is Less Than 80% of Amortized Cost
(at December 31, 2024, in millions)3 months or lessGreater than 3 months, 6 months or lessGreater than 6 months, 12 months or lessGreater than 12 monthsTotal
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$— $— $— $— $— 
Obligations of U.S. states, municipalities and political subdivisions366 — 43 635 1,044 
Debt securities issued by foreign governments
— — — — — 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
58 — — — 58 
Corporate and all other bonds13 — — 3 16 
Total$437 $— $43 $638 $1,118 
 Period For Which Fair Value is Less Than 80% of Amortized Cost
(at December 31, 2023, in millions)3 months or lessGreater than 3 months, 6 months or lessGreater than 6 months, 12 months or lessGreater than 12 monthsTotal
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$— $— $— $— $— 
Obligations of U.S. states, municipalities and political subdivisions— 2 31 642 675 
Debt securities issued by foreign governments
— — — — — 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
— — — — — 
Corporate and all other bonds1 3 22 25 51 
Total$1 $5 $53 $667 $726 
Credit impairment charges included in net realized investment gains (losses) [Table Text Block]
Credit impairment charges included in net realized investment losses in the consolidated statement of income were as follows:
(for the year ended December 31, in millions)202420232022
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$— $— $12 
Obligations of U.S. states, municipalities and political subdivisions— 1 14 
Debt securities issued by foreign governments— — — 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
— — — 
Corporate and all other bonds5 2 — 
Total fixed maturities$5 $3 $26 
Changes in the allowance for expected credit losses on fixed maturities classified as available for sale [Table Text Block]
The following table presents changes in the allowance for expected credit losses on fixed maturities classified as available for sale for the category of Corporate and All Other Bonds (no other categories of fixed maturities currently have an allowance for expected credit losses):
Fixed Maturities
Corporate and All Other Bonds
(in millions)At and For the Twelve Months Ended December 31, 2024At and For the Twelve Months Ended December 31, 2023
Balance, beginning of period$5 $3 
Additions for expected credit losses on securities where no credit losses were previously recognized
5 1 
Additions (reductions) for expected credit losses on securities where credit losses were previously recognized(1)1 
 Reductions due to sales/defaults of credit-impaired securities(7)— 
Reductions for impairments of securities which the Company intends to sell or more likely than not will be required to sell — — 
Balance, end of period$2 $5 
Net investment income [Table Text Block]
(for the year ended December 31, in millions)202420232022
Gross investment income
Fixed maturities$2,948 $2,472 $2,113 
Equity securities21 18 17 
Short-term securities280 241 73 
Real estate investments70 64 66 
Other investments318 171 336 
Gross investment income3,637 2,966 2,605 
Investment expenses47 44 43 
Net investment income$3,590 $2,922 $2,562 
Change in net unrealized investments gains (losses) [Table Text Block]
Changes in net unrealized gains (losses) on investment securities that are included as a separate component of other comprehensive income (loss) were as follows:
(at and for the year ended December 31, in millions)202420232022
Changes in net unrealized investment gains (losses)
Fixed maturities$(640)$2,248 $(9,279)
Other investments1 2 (1)
Change in net pre-tax unrealized gains (losses) on investment securities(639)2,250 (9,280)
Related tax expense (benefit)(128)481 (1,967)
Change in net unrealized gains (losses) on investment securities(511)1,769 (7,313)
Balance, beginning of year(3,129)(4,898)2,415 
Balance, end of year$(3,640)$(3,129)$(4,898)