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Commitments, contingencies, and guarantees (Tables)
 6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Balance Sheet Locations, Fair Values In An Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments
The following table presents the balance sheet location, fair value of derivative instruments in an asset or (liability) position, and notional value/payment provision of our derivative instruments:
June 30, 2024December 31, 2023
Consolidated
Balance Sheet
Location		Fair ValueNotional
Value/
Payment
Provision		Fair ValueNotional
Value/
Payment
Provision
(in millions of U.S. dollars)Derivative AssetDerivative (Liability)Derivative AssetDerivative (Liability)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contractsOA / (AP)$35 $(167)$3,946 $27 $(94)$3,662 
Options/Futures contracts on notes and bondsOA / (AP)6 (2)1,190 27 (42)2,062 
Convertible securities (1)
FM AFS / ES61 — 67 56 — 64 
$102 $(169)$5,203 $110 $(136)$5,788 
Other derivative instruments:
Futures contracts on equities (2)
OA / (AP)$— $(2)$1,042 $— $(37)$1,157 
OtherOA / (AP)1 (5)350 — (5)217 
$1 $(7)$1,392 $— $(42)$1,374 
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedgesOA / (AP)$88 $— $1,614 $126 $— $1,631 
Cross-currency swaps - net investment hedgesOA / (AP)39 (96)1,599 10 (128)1,619 
$127 $(96)$3,213 $136 $(128)$3,250 
(1)Includes fair value of embedded derivatives.
(2)Related to MRB book of business.
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location
Three Months Ended
Six Months Ended
 June 30
 June 30
(pre-tax, in millions of U.S. dollars)
2024
2023
2024
2023
Gain (loss) recognized in OCI$(46)$57 $(54)$40 
Net realized gain (loss) reclassified from OCI(12)11 (49)31 
Interest expense reclassified from OCI(4)(4)(8)(8)
OCI gain (loss) after reclassifications$(30)$50 $3 $17 
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location
Three Months Ended
Six Months Ended
June 30
 June 30
(pre-tax, in millions of U.S. dollars)
2024
2023
2024
2023
Gain (loss) recognized in OCI$37 $35 $73 $12 
Interest income reclassified from OCI3 4 6 7 
OCI gain (loss) after reclassifications$34 $31 $67 $5 
Net Realized Gains (Losses) Of Derivative Instrument Activity In Consolidated Statement Of Operations The following table presents net gains (losses) related to derivative instrument activity in the Consolidated statements of operations:
Three Months EndedSix Months Ended
June 30June 30
(in millions of U.S. dollars)2024202320242023
Investment and embedded derivative instruments:
Foreign currency forward contracts$(28)$(27)$(80)$(78)
All other futures contracts, options, and equities12 (29)18 (24)
Convertible securities (1)
(1)1 2 1 
Total investment and embedded derivative instruments$(17)$(55)$(60)$(101)
Other derivative instruments:
Futures contracts on equities (2)
$(21)$(75)$(116)$(132)
Other(3)2 (5)1 
Total other derivative instruments$(24)$(73)$(121)$(131)
$(41)$(128)$(181)$(232)
(1)Includes embedded derivatives.
(2)Related to MRB book of business.
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:
Remaining contractual maturity
June 30, 2024December 31, 2023
(in millions of U.S. dollars)Overnight and Continuous
Collateral held under securities lending agreements:
Cash$644 $555 
U.S. Treasury / Agency272 33 
Non-U.S.865 621 
Corporate and asset-backed securities82 57 
Municipal— 6 
Equity securities26 27 
$1,889 $1,299 
Gross amount of recognized liability for securities lending payable$1,889 $1,299 
The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:
Remaining contractual maturity
June 30, 2024December 31, 2023
Up to 30 Days30-90 DaysGreater than
90 Days		TotalUp to 30 Days30-90 DaysGreater than
90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash$— $— $— $— $— $33 $1 $34 
Non-U.S.1,767 — — 1,767 1,355 — — 1,355 
U.S. Treasury / Agency— 101 — 101 — 105 — 105 
Mortgage-backed securities471 908 42 1,421 — 913 517 1,430 
$2,238 $1,009 $42 $3,289 $1,355 $1,051 $518 $2,924 
Gross amount of recognized liabilities for repurchase agreements$3,149 $2,833 
Difference (1)
$140 $91 
(1)Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.