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Investments (Tables)
 3 Months Ended
Mar. 31, 2024
Investments [Abstract]  
Amortized cost and fair value of investments in fixed maturities [Table Text Block]
The amortized cost and fair value of investments in fixed maturities classified as available for sale were as follows:
Amortized CostAllowance for Expected Credit LossesGross UnrealizedFair Value
(at March 31, 2024, in millions)GainsLosses
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$6,489 $— $1 $250 $6,240 
Obligations of U.S. states, municipalities and political subdivisions:
Local general obligation18,138 — 41 1,455 16,724 
Revenue9,419 — 27 700 8,746 
State general obligation1,156 — 3 67 1,092 
Pre-refunded952 — 2 4 950 
Total obligations of U.S. states, municipalities and political subdivisions29,665 — 73 2,226 27,512 
Debt securities issued by foreign governments970 — 1 32 939 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
9,076 — 68 224 8,920 
Corporate and all other bonds36,512 3 103 2,232 34,380 
Total$82,712 $3 $246 $4,964 $77,991 
 Amortized CostAllowance for Expected Credit LossesGross UnrealizedFair Value
(at December 31, 2023, in millions)GainsLosses
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$6,591 $— $8 $231 $6,368 
Obligations of U.S. states, municipalities and political subdivisions: 
Local general obligation18,374 — 90 1,265 17,199 
Revenue9,748 — 52 616 9,184 
State general obligation1,209 — 7 59 1,157 
Pre-refunded963 — 5 2 966 
Total obligations of U.S. states, municipalities and political subdivisions30,294 — 154 1,942 28,506 
Debt securities issued by foreign governments1,035 — 2 31 1,006 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
7,874 — 120 176 7,818 
Corporate and all other bonds35,987 5 187 2,060 34,109 
Total$81,781 $5 $471 $4,440 $77,807 
Cost and fair value of investments in equity securities [Table Text Block]
The cost and fair value of investments in equity securities were as follows:
  
(at March 31, 2024, in millions)CostGross GainsGross LossesFair Value
Common stock$512 $142 $13 $641 
Non-redeemable preferred stock45 3 — 48 
Total$557 $145 $13 $689 
(at December 31, 2023, in millions)CostGross GainsGross LossesFair Value
Common stock$508 $93 $41 $560 
Non-redeemable preferred stock45 3 — 48 
Total$553 $96 $41 $608 
Unrealized investment losses [Table Text Block]
The following tables summarize, for all fixed maturities classified as available for sale in an unrealized loss position at March 31, 2024 and December 31, 2023, the aggregate fair value and gross unrealized loss by the length of time those securities have been continuously in an unrealized loss position.  The fair value amounts reported in the tables are estimates that are prepared using the process described in note 4 herein and in note 4 of the notes to the consolidated financial statements in the Company’s 2023 Annual Report.  The Company also relies upon estimates of several factors in its review and evaluation of individual investments, using the process described in note 1 of the notes to the consolidated financial statements in the Company’s 2023 Annual Report to determine whether a credit loss impairment exists.
Less than 12 months12 months or longerTotal
(at March 31, 2024, in millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Fixed maturities      
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$2,866 $17 $2,869 $233 $5,735 $250 
Obligations of U.S. states, municipalities and political subdivisions6,958 67 15,198 2,159 22,156 2,226 
Debt securities issued by foreign governments
134 1 696 31 830 32 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
3,106 29 1,689 195 4,795 224 
Corporate and all other bonds2,957 28 25,668 2,204 28,625 2,232 
Total $16,021 $142 $46,120 $4,822 $62,141 $4,964 
Less than 12 months12 months or longerTotal
(at December 31, 2023, in millions)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Fixed maturities  
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$1,864 $7 $2,985  $224 $4,849 $231 
Obligations of U.S. states, municipalities and political subdivisions3,868 31 14,351  1,911 18,219 1,942 
Debt securities issued by foreign governments
30 — 763  31 793 31 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
1,215 9 1,433  167 2,648 176 
Corporate and all other bonds1,016 9 26,444  2,051 27,460 2,060 
Total $7,993 $56 $45,976 $4,384 $53,969 $4,440 
Gross unrealized investment losses on securities continuously in an unrealized loss position of greater than 20% of amortized cost by length of time [Table Text Block]
The following tables summarize, for all fixed maturities reported at fair value for which fair value was less than 80% of amortized cost at March 31, 2024 and December 31, 2023, the gross unrealized investment loss by length of time those securities have continuously been in an unrealized loss position of greater than 20% of amortized cost:
Period For Which Fair Value is Less Than 80% of Amortized Cost
(at March 31, 2024, in millions)3 months or lessGreater than 3 months, 6 months or lessGreater than 6 months, 12 months or lessGreater than 12 monthsTotal
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$— $— $— $— $— 
Obligations of U.S. states, municipalities and political subdivisions224 — 8 708 940 
Debt securities issued by foreign governments
— — — — — 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
44 — — — 44 
Corporate and all other bonds41 2 1 23 67 
Total$309 $2 $9 $731 $1,051 
 Period For Which Fair Value is Less Than 80% of Amortized Cost
(at December 31, 2023, in millions)3 months or lessGreater than 3 months, 6 months or lessGreater than 6 months, 12 months or lessGreater than 12 monthsTotal
Fixed maturities
U.S. Treasury securities and obligations of U.S. government and government agencies and authorities
$— $— $— $— $— 
Obligations of U.S. states, municipalities and political subdivisions— 2 31 642 675 
Debt securities issued by foreign governments
— — — — — 
Mortgage-backed securities, collateralized mortgage obligations and pass-through securities
— — — — — 
Corporate and all other bonds1 3 22 25 51 
Total$1 $5 $53 $667 $726 
Changes in the allowance for expected credit losses on fixed maturities classified as available for sale [Table Text Block]
The following table presents changes in the allowance for expected credit losses on fixed maturities classified as available for sale for the category of Corporate and All Other Bonds (no other categories of fixed maturities currently have an allowance for expected credit losses):
Fixed Maturities
Corporate and All Other Bonds
At and For the Three Months Ended
(in millions)March 31, 2024 March 31, 2023
Balance, beginning of period$5 $3 
Additions for expected credit losses on securities where no credit losses were previously recognized3 — 
Additions for expected credit losses on securities where credit losses were previously recognized— 1 
Reductions due to sales/defaults of credit-impaired securities(5)— 
Reductions for impairments of securities which the Company intends to sell or more likely than not will be required to sell— — 
Balance, end of period$3 $4