Fair Value Measurements - Changes in level 3 recurring fair value measurements, assets (Details) - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
Dec. 31, 2023 |
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
$ 29,102
|
$ 24,534
|
$ 26,627
|
$ 23,588
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
216
|
54
|
299
|
85
|
|
| Other Comprehensive Income (Loss) |
(37)
|
33
|
192
|
344
|
|
| Purchases, Sales, Issuances and Settlements, Net |
1,681
|
249
|
3,222
|
1,084
|
|
| Gross Transfers In |
419
|
163
|
1,468
|
409
|
|
| Gross Transfers Out |
(808)
|
(687)
|
(1,219)
|
(1,392)
|
|
| Other |
(2)
|
1
|
(18)
|
229
|
|
| Fair Value End of Period |
30,571
|
24,347
|
30,571
|
24,347
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
11
|
(30)
|
(54)
|
(54)
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(105)
|
(45)
|
93
|
165
|
|
| Market risk benefit assets, at fair value |
1,187
|
|
1,187
|
|
$ 912
|
| Recurring Basis |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Market risk benefit assets, at fair value |
1,187
|
|
1,187
|
|
912
|
| Level 3 | Recurring Basis |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Market risk benefit assets, at fair value |
1,187
|
954
|
1,187
|
954
|
$ 912
|
| Bonds available-for-sale |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
26,067
|
21,508
|
23,412
|
20,426
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
194
|
77
|
328
|
114
|
|
| Other Comprehensive Income (Loss) |
(35)
|
31
|
203
|
337
|
|
| Purchases, Sales, Issuances and Settlements, Net |
1,480
|
114
|
3,081
|
943
|
|
| Gross Transfers In |
398
|
125
|
1,446
|
370
|
|
| Gross Transfers Out |
(804)
|
(607)
|
(1,170)
|
(1,116)
|
|
| Other |
(2)
|
1
|
(2)
|
175
|
|
| Fair Value End of Period |
27,298
|
21,249
|
27,298
|
21,249
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(105)
|
(45)
|
93
|
165
|
|
| 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 Year |
829
|
858
|
844
|
805
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
0
|
0
|
0
|
|
| Other Comprehensive Income (Loss) |
(33)
|
(4)
|
(47)
|
51
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
(1)
|
(1)
|
(3)
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
796
|
853
|
796
|
853
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(33)
|
(13)
|
(49)
|
27
|
|
| Bonds available-for-sale | Corporate debt |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,575
|
1,704
|
1,357
|
1,968
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
10
|
1
|
(92)
|
|
| Other Comprehensive Income (Loss) |
2
|
(2)
|
3
|
42
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(79)
|
(41)
|
(70)
|
(27)
|
|
| Gross Transfers In |
183
|
44
|
427
|
211
|
|
| Gross Transfers Out |
(288)
|
(412)
|
(325)
|
(783)
|
|
| Other |
0
|
0
|
0
|
(16)
|
|
| Fair Value End of Period |
1,393
|
1,303
|
1,393
|
1,303
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(43)
|
1
|
(44)
|
54
|
|
| Bonds available-for-sale | RMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
6,354
|
5,687
|
5,854
|
5,670
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
74
|
75
|
142
|
156
|
|
| Other Comprehensive Income (Loss) |
(90)
|
133
|
(24)
|
93
|
|
| Purchases, Sales, Issuances and Settlements, Net |
208
|
(174)
|
612
|
(182)
|
|
| Gross Transfers In |
21
|
32
|
21
|
32
|
|
| Gross Transfers Out |
(112)
|
0
|
(150)
|
(16)
|
|
| Other |
(2)
|
0
|
(2)
|
0
|
|
| Fair Value End of Period |
6,453
|
5,753
|
6,453
|
5,753
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(101)
|
131
|
(30)
|
65
|
|
| Bonds available-for-sale | CMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
547
|
718
|
608
|
718
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
3
|
(7)
|
(2)
|
0
|
|
| Other Comprehensive Income (Loss) |
3
|
(37)
|
49
|
(41)
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(24)
|
(40)
|
(127)
|
(40)
|
|
| Gross Transfers In |
0
|
0
|
127
|
24
|
|
| Gross Transfers Out |
0
|
(129)
|
(126)
|
(156)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
529
|
505
|
529
|
505
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
2
|
(46)
|
13
|
(71)
|
|
| Bonds available-for-sale | CLO |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,729
|
1,834
|
1,843
|
1,670
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
18
|
(54)
|
(3)
|
(45)
|
|
| Other Comprehensive Income (Loss) |
8
|
44
|
59
|
26
|
|
| Purchases, Sales, Issuances and Settlements, Net |
57
|
(66)
|
78
|
(45)
|
|
| Gross Transfers In |
32
|
11
|
32
|
65
|
|
| Gross Transfers Out |
(72)
|
(62)
|
(237)
|
(154)
|
|
| Other |
0
|
1
|
0
|
191
|
|
| Fair Value End of Period |
1,772
|
1,708
|
1,772
|
1,708
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
6
|
0
|
56
|
(47)
|
|
| Bonds available-for-sale | ABS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
15,033
|
10,707
|
12,906
|
9,595
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
99
|
53
|
190
|
95
|
|
| Other Comprehensive Income (Loss) |
75
|
(103)
|
163
|
166
|
|
| Purchases, Sales, Issuances and Settlements, Net |
1,318
|
436
|
2,589
|
1,240
|
|
| Gross Transfers In |
162
|
38
|
839
|
38
|
|
| Gross Transfers Out |
(332)
|
(4)
|
(332)
|
(7)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
16,355
|
11,127
|
16,355
|
11,127
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
64
|
(118)
|
147
|
137
|
|
| Other bond securities |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,319
|
1,124
|
1,323
|
1,304
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
26
|
(4)
|
52
|
34
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
208
|
55
|
178
|
(22)
|
|
| Gross Transfers In |
21
|
38
|
22
|
39
|
|
| Gross Transfers Out |
(4)
|
(73)
|
(5)
|
(269)
|
|
| Other |
0
|
0
|
0
|
54
|
|
| Fair Value End of Period |
1,570
|
1,140
|
1,570
|
1,140
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
19
|
(9)
|
33
|
9
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
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 Year |
1
|
1
|
1
|
0
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
0
|
0
|
0
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
2
|
0
|
3
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
1
|
3
|
1
|
3
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
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
|
0
|
0
|
|
| Other bond securities | Corporate debt |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
177
|
130
|
167
|
417
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
7
|
1
|
16
|
1
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
10
|
(20)
|
10
|
(116)
|
|
| Gross Transfers In |
1
|
0
|
2
|
0
|
|
| Gross Transfers Out |
0
|
(1)
|
0
|
(192)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
195
|
110
|
195
|
110
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
7
|
3
|
16
|
2
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | RMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
106
|
114
|
107
|
107
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
2
|
2
|
6
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(3)
|
(4)
|
(6)
|
(1)
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
103
|
112
|
103
|
112
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(1)
|
1
|
1
|
3
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | CMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
17
|
27
|
17
|
28
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
(1)
|
0
|
(2)
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
0
|
0
|
0
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
17
|
26
|
17
|
26
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
1
|
(1)
|
0
|
(2)
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | CLO |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
71
|
71
|
69
|
11
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(2)
|
0
|
0
|
9
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(8)
|
(47)
|
(7)
|
(46)
|
|
| Gross Transfers In |
0
|
38
|
0
|
39
|
|
| Gross Transfers Out |
0
|
(37)
|
(1)
|
(42)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
61
|
25
|
61
|
25
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
1
|
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
|
0
|
0
|
|
| Other bond securities | ABS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
947
|
781
|
962
|
741
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
21
|
(6)
|
34
|
20
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
209
|
124
|
181
|
138
|
|
| Gross Transfers In |
20
|
0
|
20
|
0
|
|
| Gross Transfers Out |
(4)
|
(35)
|
(4)
|
(35)
|
|
| Other |
0
|
0
|
0
|
54
|
|
| Fair Value End of Period |
1,193
|
864
|
1,193
|
864
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
12
|
(13)
|
15
|
5
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Equity securities |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
45
|
50
|
42
|
26
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(2)
|
0
|
1
|
0
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
5
|
1
|
5
|
25
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
(7)
|
0
|
(7)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
48
|
44
|
48
|
44
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
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
|
0
|
0
|
|
| Other invested assets |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,671
|
1,852
|
1,850
|
1,832
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(2)
|
(19)
|
(82)
|
(63)
|
|
| Other Comprehensive Income (Loss) |
(2)
|
2
|
(11)
|
7
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(12)
|
79
|
(42)
|
138
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
(44)
|
0
|
|
| Other |
0
|
0
|
(16)
|
0
|
|
| Fair Value End of Period |
1,655
|
1,914
|
1,655
|
1,914
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(8)
|
(21)
|
(87)
|
(63)
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
$ 0
|
$ 0
|
$ 0
|
$ 0
|
|