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Fair value measurements (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
GMIB Annuitization Experience [Table Text Block] |
Financial Instruments Measured At Fair Value On A Recurring Basis | Financial instruments measured at fair value on a recurring basis, by valuation hierarchy
December 31, 2019 | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
(in millions of U.S. dollars) |  |  |
Assets: |  |  |  |  |  |  |
Fixed maturities available for sale |  |  |  |  |  |  |
U.S. Treasury and agency | $ | 2,664 |  |  | $ | 619 |  |  | $ | — |  |  | $ | 3,283 |
Foreign | — |  |  | 23,258 |  |  | 449 |  |  | 23,707 |
Corporate securities | — |  |  | 30,340 |  |  | 1,451 |  |  | 31,791 |
Mortgage-backed securities | — |  |  | 19,132 |  |  | 60 |  |  | 19,192 |
States, municipalities, and political subdivisions | — |  |  | 7,515 |  |  | — |  |  | 7,515 |
| 2,664 |  |  | 80,864 |  |  | 1,960 |  |  | 85,488 |
Equity securities | 728 |  |  | 15 |  |  | 69 |  |  | 812 |
Short-term investments | 2,803 |  |  | 1,482 |  |  | 6 |  |  | 4,291 |
Other investments (1) | 412 |  |  | 377 |  |  | 10 |  |  | 799 |
Securities lending collateral | — |  |  | 994 |  |  | — |  |  | 994 |
Investment derivative instruments | 24 |  |  | — |  |  | — |  |  | 24 |
Other derivative instruments | 2 |  |  | — |  |  | — |  |  | 2 |
Separate account assets | 3,437 |  |  | 136 |  |  | — |  |  | 3,573 |
Total assets measured at fair value (1) | $ | 10,070 |  |  | $ | 83,868 |  |  | $ | 2,045 |  |  | $ | 95,983 |
Liabilities: |  |  |  |  |  |  |
Investment derivative instruments | $ | 93 |  |  | $ | — |  |  | $ | — |  |  | $ | 93 |
Other derivative instruments | 13 |  |  | — |  |  | — |  |  | 13 |
GLB (2) | — |  |  | — |  |  | 456 |  |  | 456 |
Total liabilities measured at fair value | $ | 106 |  |  | $ | — |  |  | $ | 456 |  |  | $ | 562 |
(1) | Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,921 million and other investments of $95 million at December 31, 2019 measured using NAV as a practical expedient.
(2) | Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. Refer to Note 5 c) for additional information.
December 31, 2018 | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
(in millions of U.S. dollars) |  |  |
Assets: |  |  |  |  |  |  |
Fixed maturities available for sale |  |  |  |  |  |  |
U.S. Treasury and agency | $ | 3,400 |  |  | $ | 745 |  |  | $ | — |  |  | $ | 4,145 |
Foreign | — |  |  | 21,071 |  |  | 345 |  |  | 21,416 |
Corporate securities | — |  |  | 25,284 |  |  | 1,299 |  |  | 26,583 |
Mortgage-backed securities | — |  |  | 15,479 |  |  | 61 |  |  | 15,540 |
States, municipalities, and political subdivisions | — |  |  | 10,786 |  |  | — |  |  | 10,786 |
| 3,400 |  |  | 73,365 |  |  | 1,705 |  |  | 78,470 |
Equity securities | 713 |  |  | — |  |  | 57 |  |  | 770 |
Short-term investments | 1,575 |  |  | 1,440 |  |  | 1 |  |  | 3,016 |
Other investments (1) | 381 |  |  | 303 |  |  | 11 |  |  | 695 |
Securities lending collateral | — |  |  | 1,926 |  |  | — |  |  | 1,926 |
Investment derivative instruments | 28 |  |  | — |  |  | — |  |  | 28 |
Other derivative instruments | 25 |  |  | — |  |  | — |  |  | 25 |
Separate account assets | 2,686 |  |  | 137 |  |  | — |  |  | 2,823 |
Total assets measured at fair value (1) | $ | 8,808 |  |  | $ | 77,171 |  |  | $ | 1,774 |  |  | $ | 87,753 |
Liabilities: |  |  |  |  |  |  |
Investment derivative instruments | $ | 38 |  |  | $ | 115 |  |  | $ | — |  |  | $ | 153 |
GLB (2) | — |  |  | — |  |  | 452 |  |  | 452 |
Total liabilities measured at fair value | $ | 38 |  |  | $ | 115 |  |  | $ | 452 |  |  | $ | 605 |
(1) | Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,244 million and other investments of $95 million at December 31, 2018 measured using NAV as a practical expedient.
(2) | Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. Refer to Note 5 c) for additional information.
Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations | The following table presents the significant unobservable inputs used in the Level 3 liability valuations. Excluded from the table below are inputs used to determine the fair value of Level 3 assets which are based on single broker quotes and contain no quantitative unobservable inputs developed by management. The majority of our fixed maturities classified as Level 3 used external pricing when markets are less liquid due to the lack of market inputs (i.e., stale pricing, broker quotes).
(in millions of U.S. dollars, except for percentages) | Fair Value at December 31 2019 |  |  | Valuation Technique |  | Significant Unobservable Inputs |  | Ranges |  | Weighted Average (1) |
GLB (1) | $ | 456 |  |  | Actuarial model |  | Lapse rate |  | 3% – 34% |  | 4.3 | %
|  |  |  |  | Annuitization rate |  | 0% – 52% |  | 3.2 | %
(1) | The weighted average lapse and annuitization rates are determined by weighting each treaty's rates by the GLB contracts fair value.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3):
|  |  |  |  |  |  |  |  |  |  | Assets |  |  | Liabilities |
| Available-for-Sale Debt Securities |  |  | Equity securities |  |  | Short-term investments |  |  | Other investments |  |  | GLB (1) |
Year Ended December 31, 2019 | Foreign |  |  | Corporate securities |  |  | MBS |  |  |
(in millions of U.S. dollars) |  |  |  |
Balance, beginning of year | $ | 345 |  |  | $ | 1,299 |  |  | $ | 61 |  |  | $ | 57 |  |  | $ | 1 |  |  | $ | 11 |  |  | $ | 452 |
Transfers into Level 3 | 11 |  |  | 23 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 | (24 | ) |  | (38 | ) |  | (16 | ) |  | — |  |  | — |  |  | — |  |  | — |
Change in Net Unrealized Gains/Losses in OCI | 13 |  |  | (2 | ) |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |
Net Realized Gains/Losses | (1 | ) |  | (4 | ) |  | — |  |  | (2 | ) |  | — |  |  | — |  |  | 4 |
Purchases | 228 |  |  | 577 |  |  | 19 |  |  | 34 |  |  | 6 |  |  | — |  |  | — |
Sales | (70 | ) |  | (125 | ) |  | (1 | ) |  | (21 | ) |  | — |  |  | — |  |  | — |
Settlements | (53 | ) |  | (279 | ) |  | (3 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | — |
Balance, end of year | $ | 449 |  |  | $ | 1,451 |  |  | $ | 60 |  |  | $ | 69 |  |  | $ | 6 |  |  | $ | 10 |  |  | $ | 456 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | — |  |  | $ | (2 | ) |  | $ | — |  |  | $ | (3 | ) |  | $ | — |  |  | $ | — |  |  | $ | 4 |
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date | $ | 7 |  |  | $ | (8 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1) | Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits. Refer to Note 5 c) for additional information.
| Assets |  |  |  |  | Liabilities |
| Available-for-Sale Debt Securities |  |  | Equity securities |  |  | Short-term investments |  |  | Other investments |  |  | Other derivative instruments |  |  | GLB (1) |
Year Ended December 31, 2018 | Foreign |  |  | Corporate securities |  |  | MBS |  |
(in millions of U.S. dollars) |  |  |  |  |  |
Balance, beginning of year | $ | 93 |  |  | $ | 1,037 |  |  | $ | 78 |  |  | $ | 44 |  |  | $ | — |  |  | $ | 263 |  |  | $ | 2 |  |  | $ | 204 |
Transfers into Level 3 | 13 |  |  | 24 |  |  | 1 |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 | (2 | ) |  | (31 | ) |  | (3 | ) |  | — |  |  | — |  |  | (252 | ) |  | — |  |  | — |
Change in Net Unrealized Gains/Losses in OCI | (12 | ) |  | (4 | ) |  | — |  |  | (2 | ) |  | — |  |  | (2 | ) |  | — |  |  | — |
Net Realized Gains/Losses | (3 | ) |  | (5 | ) |  | — |  |  | 6 |  |  | — |  |  | 1 |  |  | (2 | ) |  | 248 |
Purchases | 334 |  |  | 672 |  |  | 5 |  |  | 37 |  |  | 9 |  |  | 50 |  |  | — |  |  | — |
Sales | (69 | ) |  | (164 | ) |  | — |  |  | (28 | ) |  | — |  |  | — |  |  | — |  |  | — |
Settlements | (9 | ) |  | (230 | ) |  | (20 | ) |  | — |  |  | (13 | ) |  | (49 | ) |  | — |  |  | — |
Balance, end of year | $ | 345 |  |  | $ | 1,299 |  |  | $ | 61 |  |  | $ | 57 |  |  | $ | 1 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 452 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | (1 | ) |  | $ | (7 | ) |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 248 |
(1) | Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $861 million at December 31, 2018 and $550 million at December 31, 2017, which includes a fair value derivative adjustment of $452 million and $204 million, respectively.
| Assets |  |  | Liabilities |
| Available-for-Sale Debt Securities |  |  |  |  | Short-term investments |  |  |  |  | Other derivative instruments |  |  | GLB (2) |
Year Ended December 31, 2017 | Foreign |  |  | Corporate securities (1) |  |  | MBS |  |  | Equity securities |  |  |  | Other investments |
(in millions of U.S. dollars) |  |  |  |  |
Balance, beginning of year | $ | 74 |  |  | $ | 681 |  |  | $ | 45 |  |  | $ | 41 |  |  | $ | 25 |  |  | $ | 225 |  |  | $ | 13 |  |  | $ | 559 |
Transfers into Level 3 | — |  |  | 231 |  |  | 50 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |
Transfers out of Level 3 | (3 | ) |  | (93 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (9 | ) |  | — |
Change in Net Unrealized Gains/Losses in OCI | 3 |  |  | (12 | ) |  | — |  |  | (1 | ) |  | — |  |  | 6 |  |  | — |  |  | — |
Net Realized Gains/Losses | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | (2 | ) |  | (364 | )
Purchases | 84 |  |  | 521 |  |  | 8 |  |  | 24 |  |  | 16 |  |  | 56 |  |  | — |  |  | — |
Sales | (59 | ) |  | (111 | ) |  | (1 | ) |  | (22 | ) |  | — |  |  | — |  |  | — |  |  | — |
Settlements | (6 | ) |  | (180 | ) |  | (24 | ) |  | — |  |  | (41 | ) |  | (24 | ) |  | — |  |  | — |
Balance, end of year | $ | 93 |  |  | $ | 1,037 |  |  | $ | 78 |  |  | $ | 44 |  |  | $ | — |  |  | $ | 263 |  |  | $ | 2 |  |  | $ | 204 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | (1 | ) |  | $ | (2 | ) |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | (2 | ) |  | $ | (364 | )
(1) | Transfers into and Purchases in Level 3 primarily consist of privately-placed fixed income securities.
(2) | Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $550 million at December 31, 2017 and $853 million at December 31, 2016, which includes a fair value derivative adjustment of $204 million and $559 million, respectively.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
|  |  |  |  |  |  |  |  |  |  | Assets |  |  | Liabilities |
| Available-for-Sale Debt Securities |  |  | Equity securities |  |  | Short-term investments |  |  | Other investments |  |  | GLB (1) |
Year Ended December 31, 2019 | Foreign |  |  | Corporate securities |  |  | MBS |  |  |
(in millions of U.S. dollars) |  |  |  |
Balance, beginning of year | $ | 345 |  |  | $ | 1,299 |  |  | $ | 61 |  |  | $ | 57 |  |  | $ | 1 |  |  | $ | 11 |  |  | $ | 452 |
Transfers into Level 3 | 11 |  |  | 23 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 | (24 | ) |  | (38 | ) |  | (16 | ) |  | — |  |  | — |  |  | — |  |  | — |
Change in Net Unrealized Gains/Losses in OCI | 13 |  |  | (2 | ) |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |
Net Realized Gains/Losses | (1 | ) |  | (4 | ) |  | — |  |  | (2 | ) |  | — |  |  | — |  |  | 4 |
Purchases | 228 |  |  | 577 |  |  | 19 |  |  | 34 |  |  | 6 |  |  | — |  |  | — |
Sales | (70 | ) |  | (125 | ) |  | (1 | ) |  | (21 | ) |  | — |  |  | — |  |  | — |
Settlements | (53 | ) |  | (279 | ) |  | (3 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | — |
Balance, end of year | $ | 449 |  |  | $ | 1,451 |  |  | $ | 60 |  |  | $ | 69 |  |  | $ | 6 |  |  | $ | 10 |  |  | $ | 456 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | — |  |  | $ | (2 | ) |  | $ | — |  |  | $ | (3 | ) |  | $ | — |  |  | $ | — |  |  | $ | 4 |
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date | $ | 7 |  |  | $ | (8 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1) | Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits. Refer to Note 5 c) for additional information.
| Assets |  |  |  |  | Liabilities |
| Available-for-Sale Debt Securities |  |  | Equity securities |  |  | Short-term investments |  |  | Other investments |  |  | Other derivative instruments |  |  | GLB (1) |
Year Ended December 31, 2018 | Foreign |  |  | Corporate securities |  |  | MBS |  |
(in millions of U.S. dollars) |  |  |  |  |  |
Balance, beginning of year | $ | 93 |  |  | $ | 1,037 |  |  | $ | 78 |  |  | $ | 44 |  |  | $ | — |  |  | $ | 263 |  |  | $ | 2 |  |  | $ | 204 |
Transfers into Level 3 | 13 |  |  | 24 |  |  | 1 |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 | (2 | ) |  | (31 | ) |  | (3 | ) |  | — |  |  | — |  |  | (252 | ) |  | — |  |  | — |
Change in Net Unrealized Gains/Losses in OCI | (12 | ) |  | (4 | ) |  | — |  |  | (2 | ) |  | — |  |  | (2 | ) |  | — |  |  | — |
Net Realized Gains/Losses | (3 | ) |  | (5 | ) |  | — |  |  | 6 |  |  | — |  |  | 1 |  |  | (2 | ) |  | 248 |
Purchases | 334 |  |  | 672 |  |  | 5 |  |  | 37 |  |  | 9 |  |  | 50 |  |  | — |  |  | — |
Sales | (69 | ) |  | (164 | ) |  | — |  |  | (28 | ) |  | — |  |  | — |  |  | — |  |  | — |
Settlements | (9 | ) |  | (230 | ) |  | (20 | ) |  | — |  |  | (13 | ) |  | (49 | ) |  | — |  |  | — |
Balance, end of year | $ | 345 |  |  | $ | 1,299 |  |  | $ | 61 |  |  | $ | 57 |  |  | $ | 1 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 452 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | (1 | ) |  | $ | (7 | ) |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 248 |
(1) | Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $861 million at December 31, 2018 and $550 million at December 31, 2017, which includes a fair value derivative adjustment of $452 million and $204 million, respectively.
| Assets |  |  | Liabilities |
| Available-for-Sale Debt Securities |  |  |  |  | Short-term investments |  |  |  |  | Other derivative instruments |  |  | GLB (2) |
Year Ended December 31, 2017 | Foreign |  |  | Corporate securities (1) |  |  | MBS |  |  | Equity securities |  |  |  | Other investments |
(in millions of U.S. dollars) |  |  |  |  |
Balance, beginning of year | $ | 74 |  |  | $ | 681 |  |  | $ | 45 |  |  | $ | 41 |  |  | $ | 25 |  |  | $ | 225 |  |  | $ | 13 |  |  | $ | 559 |
Transfers into Level 3 | — |  |  | 231 |  |  | 50 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |
Transfers out of Level 3 | (3 | ) |  | (93 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (9 | ) |  | — |
Change in Net Unrealized Gains/Losses in OCI | 3 |  |  | (12 | ) |  | — |  |  | (1 | ) |  | — |  |  | 6 |  |  | — |  |  | — |
Net Realized Gains/Losses | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | (2 | ) |  | (364 | )
Purchases | 84 |  |  | 521 |  |  | 8 |  |  | 24 |  |  | 16 |  |  | 56 |  |  | — |  |  | — |
Sales | (59 | ) |  | (111 | ) |  | (1 | ) |  | (22 | ) |  | — |  |  | — |  |  | — |  |  | — |
Settlements | (6 | ) |  | (180 | ) |  | (24 | ) |  | — |  |  | (41 | ) |  | (24 | ) |  | — |  |  | — |
Balance, end of year | $ | 93 |  |  | $ | 1,037 |  |  | $ | 78 |  |  | $ | 44 |  |  | $ | — |  |  | $ | 263 |  |  | $ | 2 |  |  | $ | 204 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | (1 | ) |  | $ | (2 | ) |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | (2 | ) |  | $ | (364 | )
(1) | Transfers into and Purchases in Level 3 primarily consist of privately-placed fixed income securities.
(2) Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $550 million at December 31, 2017 and $853 million at December 31, 2016, which includes a fair value derivative adjustment of $204 million and $559 million, respectively.
Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value |
December 31, 2019 | Fair Value |  |  | Carrying Value |
(in millions of U.S. dollars) | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |
Assets: |  |  |  |  |  |  |  |  |
Fixed maturities held to maturity |  |  |  |  |  |  |  |  |
U.S. Treasury and agency | $ | 1,292 |  |  | $ | 55 |  |  | $ | — |  |  | $ | 1,347 |  |  | $ | 1,318 |
Foreign | — |  |  | 1,485 |  |  | — |  |  | 1,485 |  |  | 1,423 |
Corporate securities | — |  |  | 2,436 |  |  | 32 |  |  | 2,468 |  |  | 2,349 |
Mortgage-backed securities | — |  |  | 2,396 |  |  | — |  |  | 2,396 |  |  | 2,331 |
States, municipalities, and political subdivisions | — |  |  | 5,309 |  |  | — |  |  | 5,309 |  |  | 5,160 |
Total assets | $ | 1,292 |  |  | $ | 11,681 |  |  | $ | 32 |  |  | $ | 13,005 |  |  | $ | 12,581 |
Liabilities: |  |  |  |  |  |  |  |  |
Repurchase agreements | $ | — |  |  | $ | 1,416 |  |  | $ | — |  |  | $ | 1,416 |  |  | $ | 1,416 |
Short-term debt | — |  |  | 1,307 |  |  | — |  |  | 1,307 |  |  | 1,299 |
Long-term debt | — |  |  | 15,048 |  |  | — |  |  | 15,048 |  |  | 13,559 |
Trust preferred securities | — |  |  | 467 |  |  | — |  |  | 467 |  |  | 308 |
Total liabilities | $ | — |  |  | $ | 18,238 |  |  | $ | — |  |  | $ | 18,238 |  |  | $ | 16,582 |
December 31, 2018 | Fair Value |  |  | Carrying Value |
(in millions of U.S. dollars) | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |
Assets: |  |  |  |  |  |  |  |  |
Fixed maturities held to maturity |  |  |  |  |  |  |  |  |
U.S. Treasury and agency | $ | 1,128 |  |  | $ | 54 |  |  | $ | — |  |  | $ | 1,182 |  |  | $ | 1,185 |
Foreign | — |  |  | 1,542 |  |  | — |  |  | 1,542 |  |  | 1,549 |
Corporate securities | — |  |  | 2,477 |  |  | 31 |  |  | 2,508 |  |  | 2,601 |
Mortgage-backed securities | — |  |  | 2,486 |  |  | — |  |  | 2,486 |  |  | 2,524 |
States, municipalities, and political subdivisions | — |  |  | 5,541 |  |  | — |  |  | 5,541 |  |  | 5,576 |
Total assets | $ | 1,128 |  |  | $ | 12,100 |  |  | $ | 31 |  |  | $ | 13,259 |  |  | $ | 13,435 |
Liabilities: |  |  |  |  |  |  |  |  |
Repurchase agreements | $ | — |  |  | $ | 1,418 |  |  | $ | — |  |  | $ | 1,418 |  |  | $ | 1,418 |
Short-term debt | — |  |  | 516 |  |  | — |  |  | 516 |  |  | 509 |
Long-term debt | — |  |  | 12,181 |  |  | — |  |  | 12,181 |  |  | 12,087 |
Trust preferred securities | — |  |  | 409 |  |  | — |  |  | 409 |  |  | 308 |
Total liabilities | $ | — |  |  | $ | 14,524 |  |  | $ | — |  |  | $ | 14,524 |  |  | $ | 14,322 |

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