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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income

The components of and changes in the accumulated other comprehensive income (“AOCI”), and the related tax effects, are shown below:

AS OF AND FOR THE SIX MONTHS ENDED JUN. 30, 2024 US$ MILLIONS												Change in Net Unrealized Investment Gains (Losses)						Change in Discount Rate for Future Policy Benefits						Change in Instrument-Specific Credit Risk for Market Risk Benefits						Defined Benefit Pension Plan Adjustment						Foreign Currency Translation						Total
Balance as of January 1, 2024												$	(438)					$	239					$	(15)					$	85					$	9					$	(120)
Other comprehensive income (loss) before reclassifications												(133)						206						(40)						4						(14)						23
Amounts reclassified to (from) net income												(6)						—						—						—						—						(6)
Deferred income tax benefit (expense)												33						(47)						2						(1)						—						(13)
Balance as of March 31, 2024												$	(544)					$	398					$	(53)					$	88					$	(5)					$	(116)
Other comprehensive income (loss) before reclassifications												449						114						(3)						20						(11)						569
Amounts reclassified to (from) net income												(8)						—						67						—						—						59
Deferred income tax benefit (expense)												(96)						(24)						(4)						(4)						(2)						(130)
Balance as of June 30, 2024												$	(199)					$	488					$	7					$	104					$	(18)					$	382

AS OF AND FOR THE SIX MONTHS ENDED JUN. 30, 2023 US$ MILLIONS												Change in Net Unrealized Investment Gains (Losses)						Change in Discount Rate for Future Policy Benefits						Change in Instrument-Specific Credit Risk for Market Risk Benefits						Defined Benefit Pension Plan Adjustment						Foreign Currency Translation						Total
Balance as of January 1, 2023												$	(1,017)					$	507					$	(7)					$	—					$	(6)					$	(523)
Other comprehensive income (loss) before reclassifications												408						(204)						12						—						(2)						214
Amounts reclassified to (from) net income												20						—						—						1						—						21
Deferred income tax benefit (expense)												(21)						26						—						—						—						5
Balance as of March 31, 2023												$	(610)					$	329					$	5					$	1					$	(8)					$	(283)
Other comprehensive income (loss) before reclassifications												(303)						86						(22)						2						1						(236)
Amounts reclassified to (from) net income												10						—						—						—						—						10
Deferred income tax benefit (expense)												14						(6)						—						—						—						8
Balance as of June 30, 2023												$	(889)					$	409					$	(17)					$	3					$	(7)					$	(501)

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- References

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- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

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