General and significant accounting policies (ASU 2018-12 Transition) (Details) - USD ($) $ in Millions |
|
3 Months Ended |
9 Months Ended |
|
|
|
Jan. 01, 2021 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Reinsurance recoverable on losses and loss expenses |
|
|
$ (19,750)
|
[1] |
|
$ (19,750)
|
[1] |
|
$ (18,859)
|
[2] |
|
|
|
Reinsurance recoverable on policy benefits |
[1],[2] |
|
(315)
|
|
|
(315)
|
|
|
(302)
|
|
|
|
|
Deferred policy acquisition costs |
|
|
6,856
|
|
|
6,856
|
|
|
6,031
|
|
|
|
|
Value of business acquired |
|
|
(3,675)
|
|
|
(3,675)
|
|
|
(3,702)
|
|
|
|
|
Prepaid reinsurance premiums |
|
|
(3,514)
|
|
|
(3,514)
|
|
|
(3,136)
|
|
|
|
|
Investments in partially-owned insurance companies |
|
|
(188)
|
|
|
(188)
|
|
|
(2,507)
|
|
|
|
|
Unpaid losses and loss expenses |
|
|
(79,705)
|
|
$ (75,336)
|
(79,705)
|
|
$ (75,336)
|
(75,747)
|
|
$ (72,330)
|
|
|
Unearned premiums |
|
|
(22,684)
|
|
|
(22,684)
|
|
|
(19,713)
|
|
|
|
|
Future policy benefits |
|
$ 7,652
|
13,109
|
|
9,906
|
13,109
|
|
9,906
|
10,476
|
|
|
|
|
Market risk benefits |
|
|
770
|
|
|
770
|
|
|
800
|
|
|
|
|
Insurance and reinsurance balances payable |
|
|
(8,481)
|
|
|
(8,481)
|
|
|
(7,780)
|
|
|
|
|
Deferred tax liabilities |
|
|
(759)
|
|
|
(759)
|
|
|
(377)
|
|
|
|
|
Retained earnings |
|
|
(51,510)
|
|
|
(51,510)
|
|
|
(48,305)
|
|
|
|
|
Accumulated other comprehensive income (loss) (AOCI) |
|
|
(11,518)
|
|
|
(11,518)
|
|
|
(10,185)
|
|
|
|
|
Net premiums written |
|
|
(13,104)
|
|
(12,012)
|
(35,765)
|
|
(31,494)
|
|
|
|
|
|
Net premiums earned |
|
|
(12,674)
|
|
(11,530)
|
(33,815)
|
|
(29,816)
|
|
|
|
|
|
Net realized (gains) losses |
|
|
103
|
|
456
|
484
|
|
936
|
|
|
|
|
|
Market risk benefits gains (losses) |
|
|
32
|
|
(69)
|
154
|
|
(85)
|
|
|
|
|
|
Losses and loss expenses |
|
|
(7,106)
|
|
(7,063)
|
(17,937)
|
|
(16,833)
|
|
|
|
|
|
Policy benefits |
|
|
(938)
|
|
(707)
|
(2,565)
|
|
(1,441)
|
|
|
|
|
|
Policy acquisition costs |
|
|
(2,178)
|
|
(1,970)
|
(6,142)
|
|
(5,415)
|
|
|
|
|
|
Other (income) expense |
|
|
(154)
|
|
202
|
(550)
|
|
(9)
|
|
|
|
|
|
Income Tax (Expense) Benefit |
|
|
(413)
|
|
(263)
|
(1,189)
|
|
(907)
|
|
|
|
|
|
Net income (loss) |
|
|
(2,043)
|
|
(792)
|
(5,728)
|
|
(3,935)
|
|
|
|
|
|
Current discount rate on future policy benefits |
|
|
683
|
|
479
|
497
|
|
1,546
|
|
|
|
|
|
Instrument-specific credit risk on market risk benefits |
|
|
(5)
|
|
8
|
3
|
|
48
|
|
|
|
|
|
Other Comprehensive Income (Loss), Tax |
|
|
0
|
|
109
|
(104)
|
|
1,071
|
|
|
|
|
|
Comprehensive income (loss) |
|
|
268
|
|
(2,658)
|
4,316
|
|
(7,107)
|
|
|
|
|
|
Comprehensive income (loss) |
|
|
347
|
|
(2,658)
|
4,395
|
|
(7,107)
|
|
|
|
|
|
Net Cash Provided by (Used in) Operating Activities |
|
|
|
|
|
9,446
|
|
8,600
|
|
|
|
|
|
Net Cash Provided by (Used in) Financing Activities |
|
|
|
|
|
(3,325)
|
|
(2,730)
|
|
|
|
|
|
Liability for Future Policy Benefit, Remeasurement Gain (Loss) |
|
|
25
|
|
17
|
21
|
|
11
|
|
|
|
|
|
Equity in net income of partially-owned entities |
|
|
(150)
|
|
111
|
(610)
|
|
(180)
|
|
|
|
|
|
Increase (Decrease) in Deferred Income Taxes |
|
|
|
|
|
39
|
|
55
|
|
|
|
|
|
Unpaid losses and loss expenses |
|
|
|
|
|
3,270
|
|
4,805
|
|
|
|
|
|
Unearned premiums |
|
|
|
|
|
2,085
|
|
1,904
|
|
|
|
|
|
Future policy benefits |
|
|
|
|
|
570
|
|
117
|
|
|
|
|
|
Accounts payable, accrued expenses, and other liabilities |
|
|
|
|
|
(392)
|
|
337
|
|
|
|
|
|
Reinsurance recoverable |
|
|
|
|
|
(388)
|
|
(1,850)
|
|
|
|
|
|
Increase (Decrease) in Deferred Policy Acquisition Costs |
|
|
|
|
|
(832)
|
|
(355)
|
|
|
|
|
|
Increase (Decrease) in Other Operating Assets and Liabilities, Net |
|
|
|
|
|
796
|
|
(95)
|
|
|
|
|
|
Net cash flows used for investing activities |
|
|
|
|
|
(5,434)
|
|
(5,202)
|
|
|
|
|
|
Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net premiums written |
|
|
(1,452)
|
|
(1,265)
|
(4,015)
|
|
(2,403)
|
|
|
|
|
|
Net premiums earned |
|
|
(1,442)
|
|
(1,244)
|
(3,962)
|
|
(2,325)
|
|
|
|
|
|
Losses and loss expenses |
|
|
(20)
|
|
(27)
|
(87)
|
|
(78)
|
|
|
|
|
|
Policy benefits |
|
|
(866)
|
|
(666)
|
(2,283)
|
|
(1,275)
|
|
|
|
|
|
Policy acquisition costs |
|
|
(279)
|
|
(266)
|
(829)
|
|
(537)
|
|
|
|
|
|
Other (income) expense |
|
|
(28)
|
|
4
|
(69)
|
|
(38)
|
|
|
|
|
|
Overseas General Insurance [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net premiums written |
|
|
(3,211)
|
|
(2,645)
|
(9,359)
|
|
(8,364)
|
|
|
|
|
|
Net premiums earned |
|
|
(3,311)
|
|
(2,741)
|
(9,005)
|
|
(8,065)
|
|
|
|
|
|
Losses and loss expenses |
|
|
(1,635)
|
|
(1,333)
|
(4,139)
|
|
(3,772)
|
|
|
|
|
|
Policy benefits |
|
|
(91)
|
|
(108)
|
(338)
|
|
(282)
|
|
|
|
|
|
Policy acquisition costs |
|
|
(827)
|
|
(720)
|
(2,286)
|
|
(2,096)
|
|
|
|
|
|
Other (income) expense |
|
|
(10)
|
|
(2)
|
(29)
|
|
3
|
|
|
|
|
|
Term Life Insurance | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred policy acquisition costs |
|
|
372
|
|
299
|
372
|
|
299
|
320
|
|
246
|
|
|
Future policy benefits |
|
454
|
947
|
|
740
|
947
|
|
740
|
|
|
|
|
|
Policy acquisition costs |
|
|
|
|
|
(74)
|
|
(56)
|
|
|
|
|
|
Whole Life Insurance | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred policy acquisition costs |
|
|
488
|
|
350
|
488
|
|
350
|
395
|
|
334
|
|
|
Future policy benefits |
|
3,767
|
6,702
|
|
4,004
|
6,702
|
|
4,004
|
|
|
|
|
|
Policy acquisition costs |
|
|
|
|
|
(16)
|
|
(14)
|
|
|
|
|
|
Accident and Health Insurance Product Line [Member] | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred policy acquisition costs |
|
|
1,181
|
|
819
|
1,181
|
|
819
|
902
|
|
745
|
|
|
Future policy benefits |
|
2,569
|
4,072
|
|
4,335
|
4,072
|
|
4,335
|
|
|
|
|
|
Policy acquisition costs |
|
|
|
|
|
(100)
|
|
(72)
|
|
|
|
|
|
Accident and Health Insurance Product Line [Member] | Overseas General Insurance [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Future policy benefits |
|
773
|
718
|
|
735
|
718
|
|
735
|
|
|
|
|
|
Insurance, Other | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred policy acquisition costs |
|
|
127
|
|
117
|
127
|
|
117
|
121
|
|
$ 108
|
|
|
Future policy benefits |
|
89
|
$ 670
|
|
92
|
670
|
|
92
|
|
|
|
|
|
Policy acquisition costs |
|
|
|
|
|
$ (15)
|
|
(16)
|
|
|
|
|
|
Variable Annuity |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Market risk benefits |
|
1,163
|
|
|
|
|
|
|
|
|
|
|
|
Previously Reported |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Reinsurance recoverable on losses and loss expenses |
|
|
|
|
|
|
|
|
(18,901)
|
|
|
|
|
Reinsurance recoverable on policy benefits |
|
|
|
|
|
|
|
|
(303)
|
|
|
|
|
Deferred policy acquisition costs |
|
|
|
|
|
|
|
|
5,788
|
|
|
|
|
Value of business acquired |
|
|
|
|
|
|
|
|
(3,596)
|
|
|
|
|
Prepaid reinsurance premiums |
|
|
|
|
|
|
|
|
(3,140)
|
|
|
|
|
Investments in partially-owned insurance companies |
|
|
|
|
|
|
|
|
(2,877)
|
|
|
|
|
Unpaid losses and loss expenses |
|
|
|
|
|
|
|
|
(76,323)
|
|
|
|
|
Unearned premiums |
|
|
|
|
|
|
|
|
(20,360)
|
|
|
|
|
Future policy benefits |
|
|
|
|
|
|
|
|
10,120
|
|
|
$ 6,065
|
[3] |
Market risk benefits |
|
|
|
|
|
|
|
|
0
|
|
|
|
|
Insurance and reinsurance balances payable |
|
|
|
|
|
|
|
|
(7,795)
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
(292)
|
|
|
|
|
Retained earnings |
|
|
|
|
|
|
|
|
(48,334)
|
|
|
|
|
Accumulated other comprehensive income (loss) (AOCI) |
|
|
|
|
|
|
|
|
(10,193)
|
|
|
|
|
Net premiums written |
|
|
|
|
(12,020)
|
|
|
(31,521)
|
|
|
|
|
|
Net premiums earned |
|
|
|
|
(11,535)
|
|
|
(29,838)
|
|
|
|
|
|
Net realized (gains) losses |
|
|
|
|
384
|
|
|
787
|
|
|
|
|
|
Market risk benefits gains (losses) |
|
|
|
|
0
|
|
|
0
|
|
|
|
|
|
Losses and loss expenses |
|
|
|
|
(7,279)
|
|
|
(17,474)
|
|
|
|
|
|
Policy benefits |
|
|
|
|
(486)
|
|
|
(790)
|
|
|
|
|
|
Policy acquisition costs |
|
|
|
|
(1,975)
|
|
|
(5,451)
|
|
|
|
|
|
Other (income) expense |
|
|
|
|
188
|
|
|
(21)
|
|
|
|
|
|
Income Tax (Expense) Benefit |
|
|
|
|
(265)
|
|
|
(913)
|
|
|
|
|
|
Net income (loss) |
|
|
|
|
(812)
|
|
|
(4,001)
|
|
|
|
|
|
Current discount rate on future policy benefits |
|
|
|
|
0
|
|
|
0
|
|
|
|
|
|
Instrument-specific credit risk on market risk benefits |
|
|
|
|
0
|
|
|
0
|
|
|
|
|
|
Other Comprehensive Income (Loss), Tax |
|
|
|
|
(165)
|
|
|
(1,222)
|
|
|
|
|
|
Comprehensive income (loss) |
|
|
|
|
(3,093)
|
|
|
(8,529)
|
|
|
|
|
|
Net Cash Provided by (Used in) Operating Activities |
|
|
|
|
|
|
|
8,592
|
|
|
|
|
|
Net Cash Provided by (Used in) Financing Activities |
|
|
|
|
|
|
|
(2,722)
|
|
|
|
|
|
Previously Reported | Term Life Insurance | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Future policy benefits |
[3] |
|
|
|
|
|
|
|
|
|
|
391
|
|
Previously Reported | Whole Life Insurance | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Future policy benefits |
[3] |
|
|
|
|
|
|
|
|
|
|
2,578
|
|
Previously Reported | Accident and Health Insurance Product Line [Member] | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Future policy benefits |
[3] |
|
|
|
|
|
|
|
|
|
|
2,270
|
|
Previously Reported | Accident and Health Insurance Product Line [Member] | Overseas General Insurance [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Future policy benefits |
[3] |
|
|
|
|
|
|
|
|
|
|
754
|
|
Previously Reported | Insurance, Other | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Future policy benefits |
[3] |
|
|
|
|
|
|
|
|
|
|
72
|
|
Previously Reported | Variable Annuity |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Market risk benefits |
|
|
|
|
|
|
|
|
|
|
|
$ 1,138
|
|
Effect of Modified Retrospective Application Accounting Standards Update 2018-12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Reinsurance recoverable on losses and loss expenses |
|
|
|
|
|
|
|
|
(42)
|
|
|
|
|
Reinsurance recoverable on policy benefits |
|
|
|
|
|
|
|
|
(1)
|
|
|
|
|
Deferred policy acquisition costs |
|
|
|
|
|
|
|
|
243
|
|
|
|
|
Value of business acquired |
|
|
|
|
|
|
|
|
(106)
|
|
|
|
|
Prepaid reinsurance premiums |
|
|
|
|
|
|
|
|
(4)
|
|
|
|
|
Investments in partially-owned insurance companies |
|
|
|
|
|
|
|
|
(370)
|
|
|
|
|
Unpaid losses and loss expenses |
|
|
|
|
|
|
|
|
(576)
|
|
|
|
|
Unearned premiums |
|
|
|
|
|
|
|
|
(647)
|
|
|
|
|
Future policy benefits |
|
|
|
|
|
|
|
|
356
|
|
|
|
|
Market risk benefits |
|
|
|
|
|
|
|
|
800
|
|
|
|
|
Insurance and reinsurance balances payable |
|
|
|
|
|
|
|
|
(15)
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
(85)
|
|
|
|
|
Retained earnings |
|
(52)
|
|
|
|
|
|
|
(29)
|
|
|
|
|
Accumulated other comprehensive income (loss) (AOCI) |
|
1,800
|
|
|
|
|
|
|
$ 8
|
|
|
|
|
Net premiums written |
|
|
|
|
(8)
|
|
|
(27)
|
|
|
|
|
|
Net premiums earned |
|
|
|
|
(5)
|
|
|
(22)
|
|
|
|
|
|
Net realized (gains) losses |
|
|
|
|
(72)
|
|
|
(149)
|
|
|
|
|
|
Market risk benefits gains (losses) |
|
|
|
|
69
|
|
|
85
|
|
|
|
|
|
Losses and loss expenses |
|
|
|
|
(216)
|
|
|
(641)
|
|
|
|
|
|
Policy benefits |
|
|
|
|
221
|
|
|
651
|
|
|
|
|
|
Policy acquisition costs |
|
|
|
|
(5)
|
|
|
(36)
|
|
|
|
|
|
Other (income) expense |
|
|
|
|
14
|
|
|
12
|
|
|
|
|
|
Income Tax (Expense) Benefit |
|
|
|
|
(2)
|
|
|
(6)
|
|
|
|
|
|
Net income (loss) |
|
|
|
|
(20)
|
|
|
(66)
|
|
|
|
|
|
Current discount rate on future policy benefits |
|
|
|
|
479
|
|
|
1,546
|
|
|
|
|
|
Instrument-specific credit risk on market risk benefits |
|
|
|
|
8
|
|
|
48
|
|
|
|
|
|
Other Comprehensive Income (Loss), Tax |
|
|
|
|
56
|
|
|
151
|
|
|
|
|
|
Comprehensive income (loss) |
|
|
|
|
$ 435
|
|
|
1,422
|
|
|
|
|
|
Net Cash Provided by (Used in) Operating Activities |
|
|
|
|
|
|
|
8
|
|
|
|
|
|
Net Cash Provided by (Used in) Financing Activities |
|
|
|
|
|
|
|
$ (8)
|
|
|
|
|
|
Liability for Future Policy Benefit, Remeasurement Gain (Loss) |
|
1,587
|
|
|
|
|
|
|
|
|
|
|
|
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, before Tax |
|
77
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Term Life Insurance | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Remeasurement Gain (Loss) |
|
63
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Whole Life Insurance | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Remeasurement Gain (Loss) |
|
1,189
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Accident and Health Insurance Product Line [Member] | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Remeasurement Gain (Loss) |
|
299
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Accident and Health Insurance Product Line [Member] | Overseas General Insurance [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Remeasurement Gain (Loss) |
|
19
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Insurance, Other | Segment Life [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Remeasurement Gain (Loss) |
|
17
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Guaranteed Minimum Death Benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Market risk benefits gains (losses) |
|
59
|
|
|
|
|
|
|
|
|
|
|
|
OCI, Market Risk Benefit, Instrument-Specific Credit Risk, Gain (Loss), before Adjustments and Tax |
[4] |
$ 84
|
|
|
|
|
|
|
|
|
|
|
|
|
|