Fair Value Measurements - Changes in level 3 recurring fair value measurements, assets (Details) - USD ($)
$ in Millions |
3 Months Ended |
12 Months Ended |
|
|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Jan. 01, 2021 |
Dec. 31, 2020 |
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
$ 28,647
|
$ 31,627
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
440
|
666
|
|
|
| Other Comprehensive Income (Loss) |
|
|
474
|
(3,929)
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
1,508
|
689
|
|
|
| Gross Transfers In |
|
|
1,819
|
3,785
|
|
|
| Gross Transfers Out |
|
|
(2,342)
|
(4,191)
|
|
|
| Other |
|
|
223
|
0
|
|
|
| Fair Value End of Period |
$ 30,769
|
$ 28,647
|
30,769
|
28,647
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
(206)
|
154
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
$ 98
|
$ (2,683)
|
|
|
| Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |
Revenues
|
Revenues
|
Revenues
|
Revenues
|
|
|
| Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] |
Other comprehensive loss
|
Other comprehensive loss
|
Other comprehensive loss
|
Other comprehensive loss
|
|
|
| Gross Transfers Out |
|
|
$ 0
|
|
|
|
| Market risk benefit assets, at fair value |
$ 912
|
$ 796
|
$ 912
|
$ 796
|
$ 338
|
$ 338
|
| Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] |
Other comprehensive loss
|
Other comprehensive loss
|
Other comprehensive loss
|
Other comprehensive loss
|
|
|
| Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |
Revenues
|
|
Revenues
|
|
|
|
| Recurring Basis |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Market risk benefit assets, at fair value |
$ 912
|
$ 796
|
$ 912
|
$ 796
|
|
|
| Level 3 | Recurring Basis |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Market risk benefit assets, at fair value |
$ 912
|
$ 796
|
$ 912
|
$ 796
|
|
|
| Net realized gains/(losses) |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |
Total net realized gains (losses)
|
Total net realized gains (losses)
|
Total net realized gains (losses)
|
Total net realized gains (losses)
|
|
|
| Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |
Total net realized gains (losses)
|
Total net realized gains (losses)
|
Total net realized gains (losses)
|
Total net realized gains (losses)
|
|
|
| Bonds available for sale |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
$ 24,899
|
$ 26,862
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
530
|
612
|
|
|
| Other Comprehensive Income (Loss) |
|
|
463
|
(3,907)
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
1,132
|
1,704
|
|
|
| Gross Transfers In |
|
|
1,760
|
3,311
|
|
|
| Gross Transfers Out |
|
|
(2,084)
|
(3,683)
|
|
|
| Other |
|
|
144
|
0
|
|
|
| Fair Value End of Period |
$ 26,844
|
$ 24,899
|
26,844
|
24,899
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
98
|
(2,683)
|
|
|
| Bonds available for sale | Obligations of states, municipalities and political subdivisions |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
824
|
1,431
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
(2)
|
1
|
|
|
| Other Comprehensive Income (Loss) |
|
|
67
|
(533)
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
(31)
|
(104)
|
|
|
| Gross Transfers In |
|
|
0
|
40
|
|
|
| Gross Transfers Out |
|
|
(11)
|
(11)
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
847
|
824
|
847
|
824
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
35
|
(223)
|
|
|
| Bonds available for sale | Non-U.S. governments |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
1
|
7
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
1
|
1
|
|
|
| Other Comprehensive Income (Loss) |
|
|
1
|
3
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
(5)
|
(10)
|
|
|
| Gross Transfers In |
|
|
11
|
3
|
|
|
| Gross Transfers Out |
|
|
(2)
|
(3)
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
7
|
1
|
7
|
1
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
1
|
(1)
|
|
|
| Bonds available for sale | Corporate debt |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
2,847
|
2,641
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
(104)
|
37
|
|
|
| Other Comprehensive Income (Loss) |
|
|
24
|
(238)
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
(595)
|
(87)
|
|
|
| Gross Transfers In |
|
|
818
|
1,155
|
|
|
| Gross Transfers Out |
|
|
(1,295)
|
(661)
|
|
|
| Other |
|
|
(16)
|
0
|
|
|
| Fair Value End of Period |
1,679
|
2,847
|
1,679
|
2,847
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
(24)
|
(217)
|
|
|
| Bonds available for sale | RMBS |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
7,553
|
10,378
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
430
|
452
|
|
|
| Other Comprehensive Income (Loss) |
|
|
12
|
(1,319)
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
(249)
|
(1,511)
|
|
|
| Gross Transfers In |
|
|
33
|
8
|
|
|
| Gross Transfers Out |
|
|
(139)
|
(455)
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
7,640
|
7,553
|
7,640
|
7,553
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
(63)
|
(504)
|
|
|
| Bonds available for sale | CMBS |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
926
|
1,190
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
(23)
|
7
|
|
|
| Other Comprehensive Income (Loss) |
|
|
(49)
|
(162)
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
(58)
|
137
|
|
|
| Gross Transfers In |
|
|
223
|
102
|
|
|
| Gross Transfers Out |
|
|
(386)
|
(348)
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
633
|
926
|
633
|
926
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
(94)
|
(133)
|
|
|
| Bonds available for sale | CLO/ABS |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
12,748
|
11,215
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
228
|
114
|
|
|
| Other Comprehensive Income (Loss) |
|
|
408
|
(1,658)
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
2,070
|
3,279
|
|
|
| Gross Transfers In |
|
|
675
|
2,003
|
|
|
| Gross Transfers Out |
|
|
(251)
|
(2,205)
|
|
|
| Other |
|
|
160
|
0
|
|
|
| Fair Value End of Period |
16,038
|
12,748
|
16,038
|
12,748
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
243
|
(1,605)
|
|
|
| Other bond securities |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
1,527
|
2,697
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
59
|
(283)
|
|
|
| Other Comprehensive Income (Loss) |
|
|
0
|
0
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
123
|
(1,009)
|
|
|
| Gross Transfers In |
|
|
5
|
411
|
|
|
| Gross Transfers Out |
|
|
(238)
|
(289)
|
|
|
| Other |
|
|
80
|
0
|
|
|
| Fair Value End of Period |
1,556
|
1,527
|
1,556
|
1,527
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
(56)
|
(200)
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Other bond securities | Obligations of states, municipalities and political subdivisions |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
0
|
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
0
|
|
|
|
| Other Comprehensive Income (Loss) |
|
|
0
|
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
1
|
|
|
|
| Gross Transfers In |
|
|
0
|
|
|
|
| Gross Transfers Out |
|
|
0
|
|
|
|
| Other |
|
|
0
|
|
|
|
| Fair Value End of Period |
1
|
0
|
1
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
0
|
|
|
|
| Other bond securities | Corporate debt |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
416
|
134
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
(14)
|
(5)
|
|
|
| Other Comprehensive Income (Loss) |
|
|
0
|
0
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
0
|
158
|
|
|
| Gross Transfers In |
|
|
0
|
334
|
|
|
| Gross Transfers Out |
|
|
(191)
|
(205)
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
211
|
416
|
211
|
416
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
(15)
|
(2)
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Other bond securities | RMBS |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
173
|
196
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
9
|
(39)
|
|
|
| Other Comprehensive Income (Loss) |
|
|
0
|
0
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
(24)
|
16
|
|
|
| Gross Transfers In |
|
|
0
|
0
|
|
|
| Gross Transfers Out |
|
|
0
|
0
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
158
|
173
|
158
|
173
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
(5)
|
(38)
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Other bond securities | CMBS |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
28
|
35
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
(4)
|
(6)
|
|
|
| Other Comprehensive Income (Loss) |
|
|
0
|
0
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
(7)
|
(1)
|
|
|
| Gross Transfers In |
|
|
0
|
0
|
|
|
| Gross Transfers Out |
|
|
0
|
0
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
17
|
28
|
17
|
28
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
(4)
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Other bond securities | CLO/ABS |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
910
|
2,332
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
68
|
(233)
|
|
|
| Other Comprehensive Income (Loss) |
|
|
0
|
0
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
153
|
(1,182)
|
|
|
| Gross Transfers In |
|
|
5
|
77
|
|
|
| Gross Transfers Out |
|
|
(47)
|
(84)
|
|
|
| Other |
|
|
80
|
0
|
|
|
| Fair Value End of Period |
1,169
|
910
|
1,169
|
910
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
(36)
|
(156)
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Equity securities |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
39
|
6
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
1
|
(1)
|
|
|
| Other Comprehensive Income (Loss) |
|
|
0
|
0
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
27
|
27
|
|
|
| Gross Transfers In |
|
|
10
|
16
|
|
|
| Gross Transfers Out |
|
|
(20)
|
(9)
|
|
|
| Other |
|
|
(1)
|
0
|
|
|
| Fair Value End of Period |
56
|
39
|
56
|
39
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
1
|
(1)
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Other invested assets |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
2,075
|
1,948
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
(150)
|
338
|
|
|
| Other Comprehensive Income (Loss) |
|
|
11
|
(22)
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
90
|
(26)
|
|
|
| Gross Transfers In |
|
|
44
|
47
|
|
|
| Gross Transfers Out |
|
|
0
|
(210)
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
2,070
|
2,075
|
2,070
|
2,075
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
(151)
|
355
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Other assets |
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
| Fair Value Beginning of Period |
|
|
107
|
114
|
|
|
| MRBs and Net Realized and Unrealized Gains (Losses) Included in Income |
|
|
0
|
0
|
|
|
| Other Comprehensive Income (Loss) |
|
|
0
|
0
|
|
|
| Purchases, Sales, Issuances and Settlements, Net |
|
|
136
|
(7)
|
|
|
| Gross Transfers In |
|
|
0
|
0
|
|
|
| Gross Transfers Out |
|
|
0
|
0
|
|
|
| Other |
|
|
0
|
0
|
|
|
| Fair Value End of Period |
$ 243
|
$ 107
|
243
|
107
|
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
|
|
0
|
0
|
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
|
|
$ 0
|
$ 0
|
|
|