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Fair value measurements (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Financial Instruments Measured At Fair Value On A Recurring Basis
Financial instruments measured at fair value on a recurring basis, by valuation hierarchy
March 31, 2024Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency$2,251 $648 $— $2,899 
Non-U.S.— 35,427 718 36,145 
Corporate and asset-backed securities— 40,789 2,658 43,447 
Mortgage-backed securities— 23,748 7 23,755 
Municipal— 2,043 — 2,043 
2,251 102,655 3,383 108,289 
Equity securities3,668 — 101 3,769 
Short-term investments3,292 1,810 5 5,107 
Other investments (1)
583 4,897 — 5,480 
Securities lending collateral— 1,708 — 1,708 
Investment derivatives28 — — 28 
Derivatives designated as hedging instruments— 149 — 149 
Other derivative instruments1 — — 1 
Separate account assets5,775 89 — 5,864 
Total assets measured at fair value (1)(2)
$15,598 $111,308 $3,489 $130,395 
Liabilities:
Investment derivatives$144 $— $— $144 
Derivatives designated as hedging instruments— 110 — 110 
Other derivative instruments22 6 — 28 
Market risk benefits (3)
— — 611 611 
Total liabilities measured at fair value$166 $116 $611 $893 
(1)Excluded from the table above are other investments of $736 million, principally policy loans at March 31, 2024, measured using NAV as a practical expedient.
(2)Excluded from the table above are Private equities of $14,281 million at March 31, 2024, measured using NAV as a practical expedient.
(3)Refer to Note 10 for additional information on Market risk benefits.
 
December 31, 2023Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency$2,911 $679 $— $3,590 
Non-U.S.— 34,472 692 35,164 
Corporate and asset-backed securities— 40,208 2,622 42,830 
Mortgage-backed securities— 22,051 7 22,058 
Municipal— 2,929 — 2,929 
2,911 100,339 3,321 106,571 
Equity securities3,368 — 87 3,455 
Short-term investments1,915 2,633 3 4,551 
Other investments (1)
589 4,236 — 4,825 
Securities lending collateral— 1,299 — 1,299 
Investment derivatives54 — — 54 
Derivatives designated as hedging instruments— 136 — 136 
Separate account assets5,482 91 — 5,573 
Total assets measured at fair value (1)(2)
$14,319 $108,734 $3,411 $126,464 
Liabilities:
Investment derivatives$136 $— $— $136 
Derivatives designated as hedging instruments— 128 — 128 
Other derivative instruments37 5 — 42 
Market risk benefits (3)
— — 771 771 
Total liabilities measured at fair value$173 $133 $771 $1,077 
(1)Excluded from the table above are other investments of $702 million, principally policy loans at December 31, 2023, measured using NAV as a practical expedient.
(2)Excluded from the table above are Private equities of $14,078 million at December 31, 2023, measured using NAV as a practical expedient.
(3)Refer to Note 10 for additional information on Market risk benefits.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3).

Three Months Ended
March 31, 2024
(in millions of U.S. dollars)		Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Non-U.S.Corporate and asset-
backed securities		Mortgage-backed securities
Balance, beginning of period$692 $2,622 $7 $87 $3 
Transfers into Level 31 1 — — — 
Transfers out of Level 3(4)(3)— — — 
Change in Net Unrealized Gains (Losses) in OCI14 6 — — — 
Net Realized Gains (Losses)— — — (3)— 
Purchases72 143 — 18 4 
Sales(20)(20)— (1)— 
Settlements(37)(91)— — (2)
Balance, end of period$718 $2,658 $7 $101 $5 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date$— $— $— $(2)$— 
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date$13 $6 $— $— $— 
Three Months Ended
March 31, 2023
(in millions of U.S. dollars)		Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Non-U.S.Corporate and asset-
backed securities		Mortgage-backed securities
Balance, beginning of period$564 $2,449 $11 $90 $3 
Transfers out of Level 3— (11)— — — 
Change in Net Unrealized Gains (Losses) in OCI(4)(2)— — (1)
Net Realized Gains (Losses)— 2 — (4)— 
Purchases43 205 — 7 5 
Sales(31)(20)— (5)— 
Settlements(11)(79)(1)— — 
Balance, end of period$561 $2,544 $10 $88 $7 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date$— $4 $— $(3)$— 
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date$(6)$(5)$— $— $(1)
Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value
The following tables present fair value, by valuation hierarchy, and carrying value of the financial instruments not measured at fair value:

March 31, 2024Fair ValueNet Carrying
Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Private debt held-for-investment$— $— $2,733 $2,733 $2,708 
Total assets$— $— $2,733 $2,733 $2,708 
Liabilities:
Repurchase agreements$— $3,022 $— $3,022 $3,022 
Short-term debt— 2,228 — 2,228 2,265 
Long-term debt— 11,930 — 11,930 13,248 
Trust preferred securities— 365 — 365 309 
Total liabilities$— $17,545 $— $17,545 $18,844 

December 31, 2023Fair ValueNet Carrying
Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Private debt held-for-investment$— $— $2,560 $2,560 $2,553 
Total assets$— $— $2,560 $2,560 $2,553 
Liabilities:
Repurchase agreements$— $2,833 $— $2,833 $2,833 
Short-term debt— 1,431 — 1,431 1,460 
Long-term debt— 11,924 — 11,924 13,035 
Trust preferred securities— 365 — 365 308 
Total liabilities$— $16,553 $— $16,553 $17,636