XML 92 R48.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Fair Value Measurements - Fair Value by Hierarchy (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale $ 40,840 $ 39,818
Fixed maturities, at fair value using the fair value option ("FVO Securities") 292 327
Equity securities, at fair value [1] 736 864
Derivative assets 47 (1)
Short-term investments 2,975 3,850
Total assets accounted for at fair value on a recurring basis 44,890 44,858
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities (22) 8
Total liabilities accounted for at fair value on a recurring basis $ (22) 8
Equity Security, FV-NI, Contractual Sale Restriction, Nature of Restriction and Circumstance for Lapse Level 3 includes investments that have contractual sales restrictions that require consent to sell and are in place for the duration that the securities are held by the Company.  
Credit derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets $ 29 (10)
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities (29) 10
Foreign exchange derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 17 9
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 10 4
Interest rate derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 1  
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities (3) (6)
Asset backed securities ("ABS")    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 3,499 3,320
Collateralized Loan Obligations [Member]    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 3,168 3,090
Fixed maturities, at fair value using the fair value option ("FVO Securities") 167 167
CMBS    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 3,050 3,125
Corporate    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 18,657 17,866
Foreign government/government agencies    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 548 562
Municipal    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 5,941 6,039
RMBS    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 4,473 4,287
U.S. Treasuries    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 1,504 1,529
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 18
Fixed maturities, at fair value using the fair value option ("FVO Securities") 0 0
Equity securities, at fair value [1] 344 333
Derivative assets 0 0
Short-term investments 442 1,400
Total assets accounted for at fair value on a recurring basis 786 1,751
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 0 0
Total liabilities accounted for at fair value on a recurring basis 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | Credit derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 0 0
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | Foreign exchange derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 0 0
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | Interest rate derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 0  
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | Asset backed securities ("ABS")    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | Collateralized Loan Obligations [Member]    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | CMBS    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | Corporate    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | Foreign government/government agencies    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | Municipal    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | RMBS    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | U.S. Treasuries    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 18
Significant
Observable
Inputs
(Level 2)    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 38,407 37,563
Fixed maturities, at fair value using the fair value option ("FVO Securities") 125 160
Equity securities, at fair value [1] 334 473
Derivative assets 47 (1)
Short-term investments 2,507 2,425
Total assets accounted for at fair value on a recurring basis 41,420 40,620
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities (22) 8
Total liabilities accounted for at fair value on a recurring basis (22) 8
Significant
Observable
Inputs
(Level 2) | Credit derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 29 (10)
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities (29) 10
Significant
Observable
Inputs
(Level 2) | Foreign exchange derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 17 9
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 10 4
Significant
Observable
Inputs
(Level 2) | Interest rate derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 1  
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities (3) (6)
Significant
Observable
Inputs
(Level 2) | Asset backed securities ("ABS")    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 3,483 3,320
Significant
Observable
Inputs
(Level 2) | Collateralized Loan Obligations [Member]    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 2,984 2,977
Significant
Observable
Inputs
(Level 2) | CMBS    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 2,809 2,898
Significant
Observable
Inputs
(Level 2) | Corporate    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 16,734 16,005
Significant
Observable
Inputs
(Level 2) | Foreign government/government agencies    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 548 562
Significant
Observable
Inputs
(Level 2) | Municipal    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 5,941 6,039
Significant
Observable
Inputs
(Level 2) | RMBS    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 4,404 4,251
Significant
Observable
Inputs
(Level 2) | U.S. Treasuries    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 1,504 1,511
Significant
Unobservable
Inputs
(Level 3)    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 2,433 2,237
Fixed maturities, at fair value using the fair value option ("FVO Securities") 167 167
Equity securities, at fair value [1] 58 58
Derivative assets 0 0
Short-term investments 26 25
Total assets accounted for at fair value on a recurring basis 2,684 2,487
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 0 0
Total liabilities accounted for at fair value on a recurring basis 0 0
Significant
Unobservable
Inputs
(Level 3) | Credit derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 0 0
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 0 0
Significant
Unobservable
Inputs
(Level 3) | Foreign exchange derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 0 0
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 0 0
Significant
Unobservable
Inputs
(Level 3) | Interest rate derivatives    
Assets accounted for at fair value on a recurring basis    
Derivative assets 0  
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities 0 0
Significant
Unobservable
Inputs
(Level 3) | Asset backed securities ("ABS")    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 16 0
Significant
Unobservable
Inputs
(Level 3) | Collateralized Loan Obligations [Member]    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 184 113
Significant
Unobservable
Inputs
(Level 3) | CMBS    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 241 227
Significant
Unobservable
Inputs
(Level 3) | Corporate    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 1,923 1,861
Significant
Unobservable
Inputs
(Level 3) | Foreign government/government agencies    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Significant
Unobservable
Inputs
(Level 3) | Municipal    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Significant
Unobservable
Inputs
(Level 3) | RMBS    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 69 36
Significant
Unobservable
Inputs
(Level 3) | U.S. Treasuries    
Assets accounted for at fair value on a recurring basis    
Debt Securities, Available-for-sale 0 0
Fair Value Measured at Net Asset Value Per Share [Member]    
Liabilities accounted for at fair value on a recurring basis    
Deposit Assets $ 75 $ 75