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Fair value measurements (Tables) | 12 Months Ended
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Dec. 31, 2022
Fair Value Disclosures [Abstract] |
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, 2022 | Level 1 |  | Level 2 |  | Level 3 |  | Total
(in millions of U.S. dollars) |  |  |
Assets: |  |  |  |  |  |  |
Fixed maturities available for sale |  |  |  |  |  |  |
U.S. Treasury / Agency | $ | 2,100 |  |  | $ | 526 |  |  | $ | — |  |  | $ | 2,626 |
Non-U.S. | — |  |  | 25,344 |  |  | 564 |  |  | 25,908 |
Corporate and asset-backed securities | — |  |  | 34,506 |  |  | 2,449 |  |  | 36,955 |
Mortgage-backed securities | — |  |  | 15,840 |  |  | 11 |  |  | 15,851 |
Municipal | — |  |  | 3,880 |  |  | — |  |  | 3,880 |
| 2,100 |  |  | 80,096 |  |  | 3,024 |  |  | 85,220 |
Equity securities | 737 |  |  | — |  |  | 90 |  |  | 827 |
Short-term investments | 3,108 |  |  | 1,849 |  |  | 3 |  |  | 4,960 |
Other investments (1) | 552 |  |  | 399 |  |  | — |  |  | 951 |
Securities lending collateral | — |  |  | 1,523 |  |  | — |  |  | 1,523 |
Investment derivatives | 82 |  |  | — |  |  | — |  |  | 82 |
Derivatives designated as hedging instruments | — |  |  | 17 |  |  | — |  |  | 17 |
Other derivative instruments | 33 |  |  | — |  |  | — |  |  | 33 |
Separate account assets | 5,101 |  |  | 89 |  |  | — |  |  | 5,190 |
Total assets measured at fair value (1) | $ | 11,713 |  |  | $ | 83,973 |  |  | $ | 3,117 |  |  | $ | 98,803 |
Liabilities: |  |  |  |  |  |  |
Investment derivatives | $ | 139 |  |  | $ | — |  |  | $ | — |  |  | $ | 139 |
Derivatives designated as hedging instruments | — |  |  | 53 |  |  | — |  |  | 53 |
GLB (2) | — |  |  | — |  |  | 736 |  |  | 736 |
Total liabilities measured at fair value | $ | 139 |  |  | $ | 53 |  |  | $ | 736 |  |  | $ | 928 |
(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,355 million, policy loans of $343 million and other investments of $47 million at December 31, 2022 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.
December 31, 2021 | Level 1 |  | Level 2 |  | Level 3 |  | Total
(in millions of U.S. dollars) |  |  |
Assets: |  |  |  |  |  |  |
Fixed maturities available for sale |  |  |  |  |  |  |
U.S. Treasury / Agency | $ | 1,680 |  |  | $ | 534 |  |  | $ | — |  |  | $ | 2,214 |
Non-U.S. | — |  |  | 25,196 |  |  | 633 |  |  | 25,829 |
Corporate and asset-backed securities | — |  |  | 37,014 |  |  | 2,049 |  |  | 39,063 |
Mortgage-backed securities | — |  |  | 20,463 |  |  | 26 |  |  | 20,489 |
Municipal | — |  |  | 5,513 |  |  | — |  |  | 5,513 |
| 1,680 |  |  | 88,720 |  |  | 2,708 |  |  | 93,108 |
Equity securities | 4,705 |  |  | — |  |  | 77 |  |  | 4,782 |
Short-term investments | 1,744 |  |  | 1,395 |  |  | 7 |  |  | 3,146 |
Other investments (1) | 286 |  |  | 481 |  |  | — |  |  | 767 |
Securities lending collateral | — |  |  | 1,831 |  |  | — |  |  | 1,831 |
Investment derivatives | 58 |  |  | — |  |  | — |  |  | 58 |
Separate account assets | 5,461 |  |  | 99 |  |  | — |  |  | 5,560 |
Total assets measured at fair value (1) | $ | 13,934 |  |  | $ | 92,526 |  |  | $ | 2,792 |  |  | $ | 109,252 |
Liabilities: |  |  |  |  |  |  |
Investment derivatives | $ | 166 |  |  | $ | — |  |  | $ | — |  |  | $ | 166 |
Other derivative instruments | 16 |  |  | — |  |  | — |  |  | 16 |
GLB (2) | — |  |  | — |  |  | 745 |  |  | 745 |
Total liabilities measured at fair value | $ | 182 |  |  | $ | — |  |  | $ | 745 |  |  | $ | 927 |
(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $10,108 million, policy loans of $243 million and other investments of $51 million at December 31, 2021 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.
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 2022 |  | Valuation Technique |  | Significant Unobservable Inputs |  | Ranges |  | Weighted Average (1)
GLB (1) | $ | 736 |  |  | Actuarial model |  | Lapse rate |  | 3% - 30% |  | 3.6 | %
|  |  |  |  | Annuitization rate |  | 0% - 100% |  | 4.4 | %
(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 |  |  |  |  |  |  | GLB (1)
Year Ended December 31, 2022 |  | Non-U.S. |  | Corporate and asset-backed securities |  | Mortgage-backed securities |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |
Balance, beginning of year |  | $ | 633 |  |  | $ | 2,049 |  |  | $ | 26 |  |  |  |  | $ | 77 |  |  | $ | 7 |  |  |  |  |  |  |  | $ | 745 |
Transfers into Level 3 |  | 23 |  |  | 47 |  |  | — |  |  |  |  | 1 |  |  | — |  |  |  |  |  |  |  | — |
Transfers out of Level 3 |  | (23) |  |  | (97) |  |  | (9) |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  | — |
Change in Net Unrealized Gains/Losses in OCI |  | (53) |  |  | (80) |  |  | — |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  | — |
Net Realized Gains/Losses |  | (6) |  |  | (14) |  |  | — |  |  |  |  | 15 |  |  | (2) |  |  |  |  |  |  |  | 63 |
Purchases |  | 156 |  |  | 921 |  |  | 4 |  |  |  |  | 9 |  |  | 3 |  |  |  |  |  |  |  | — |
Sales |  | (59) |  |  | (85) |  |  | — |  |  |  |  | (12) |  |  | — |  |  |  |  |  |  |  | — |
Settlements |  | (107) |  |  | (292) |  |  | (10) |  |  |  |  | — |  |  | (5) |  |  |  |  |  |  |  | — |
Other |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  | (72) |
Balance, end of year |  | $ | 564 |  |  | $ | 2,449 |  |  | $ | 11 |  |  |  |  | $ | 90 |  |  | $ | 3 |  |  |  |  |  |  |  | $ | 736 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date |  | $ | (2) |  |  | $ | (9) |  |  | $ | — |  |  |  |  | $ | 14 |  |  | $ | (1) |  |  |  |  |  |  |  | $ | 63 |
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date |  | $ | (53) |  |  | $ | (84) |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  | $ | — |
(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
| Assets |  |  |  | Liabilities
| Available-for-Sale Debt Securities |  | Equity securities |  | Short-term investments |  | Other investments |  |  |  | GLB (1)
Year Ended December 31, 2021 | Non-U.S. |  | Corporate and asset-backed securities |  | Mortgage-backed securities |
(in millions of U.S. dollars) |  |  |  |  |  |
Balance, beginning of year | $ | 546 |  |  | $ | 1,573 |  |  | $ | 60 |  |  | $ | 73 |  |  | $ | 5 |  |  | $ | 10 |  |  |  |  | $ | 1,089 |
Transfers into Level 3 | 24 |  |  | 91 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Transfers out of Level 3 | (11) |  |  | (76) |  |  | (18) |  |  | — |  |  | — |  |  | (10) |  |  |  |  | — |
Change in Net Unrealized Gains/Losses in OCI | (30) |  |  | 15 |  |  | — |  |  | — |  |  | (1) |  |  | — |  |  |  |  | — |
Net Realized Gains/Losses | (1) |  |  | (2) |  |  | — |  |  | 8 |  |  | — |  |  | — |  |  |  |  | (316) |
Purchases | 275 |  |  | 1,154 |  |  | 18 |  |  | 21 |  |  | 9 |  |  | — |  |  |  |  | — |
Sales | (48) |  |  | (99) |  |  | (1) |  |  | (25) |  |  | — |  |  | — |  |  |  |  | — |
Settlements | (122) |  |  | (607) |  |  | (33) |  |  | — |  |  | (6) |  |  | — |  |  |  |  | — |
Other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (28) |
Balance, end of year | $ | 633 |  |  | $ | 2,049 |  |  | $ | 26 |  |  | $ | 77 |  |  | $ | 7 |  |  | $ | — |  |  |  |  | $ | 745 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | (316) |
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date | $ | (25) |  |  | $ | 17 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |
(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
| Assets |  |  | Liabilities
| Available-for-Sale Debt Securities |  |  |  | Short-term investments |  |  |  |  | GLB (1)
Year Ended December 31, 2020 | Non-U.S. |  | Corporate and asset-backed securities |  | Mortgage-backed securities |  | Equity securities |  |  | Other investments
(in millions of U.S. dollars) |  |  |  |
Balance, beginning of year | $ | 449 |  |  | $ | 1,451 |  |  | $ | 60 |  |  | $ | 69 |  |  | $ | 6 |  |  | $ | 10 |  |  |  | $ | 897 |
Transfers into Level 3 | — |  |  | 134 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | — |
Transfers out of Level 3 | (16) |  |  | (73) |  |  | (1) |  |  | (3) |  |  | — |  |  | — |  |  |  | — |
Change in Net Unrealized Gains/Losses in OCI | 19 |  |  | (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | — |
Net Realized Gains/Losses | (1) |  |  | (30) |  |  | — |  |  | 1 |  |  | (1) |  |  | — |  |  |  | 202 |
Purchases | 274 |  |  | 708 |  |  | 2 |  |  | 23 |  |  | 14 |  |  | — |  |  |  | — |
Sales | (122) |  |  | (186) |  |  | — |  |  | (17) |  |  | (2) |  |  | — |  |  |  | — |
Settlements | (57) |  |  | (423) |  |  | (1) |  |  | — |  |  | (12) |  |  | — |  |  |  | — |
Other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (10) |
Balance, end of year | $ | 546 |  |  | $ | 1,573 |  |  | $ | 60 |  |  | $ | 73 |  |  | $ | 5 |  |  | $ | 10 |  |  |  | $ | 1,089 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | — |  |  | $ | (5) |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  |  | $ | 202 |
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date | $ | 16 |  |  | $ | (6) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  | $ | — |
(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
Fair Value, Liabilities 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 |  |  |  |  |  |  | GLB (1)
Year Ended December 31, 2022 |  | Non-U.S. |  | Corporate and asset-backed securities |  | Mortgage-backed securities |  |  |  |
(in millions of U.S. dollars) |  |  |  |  |
Balance, beginning of year |  | $ | 633 |  |  | $ | 2,049 |  |  | $ | 26 |  |  |  |  | $ | 77 |  |  | $ | 7 |  |  |  |  |  |  |  | $ | 745 |
Transfers into Level 3 |  | 23 |  |  | 47 |  |  | — |  |  |  |  | 1 |  |  | — |  |  |  |  |  |  |  | — |
Transfers out of Level 3 |  | (23) |  |  | (97) |  |  | (9) |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  | — |
Change in Net Unrealized Gains/Losses in OCI |  | (53) |  |  | (80) |  |  | — |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  | — |
Net Realized Gains/Losses |  | (6) |  |  | (14) |  |  | — |  |  |  |  | 15 |  |  | (2) |  |  |  |  |  |  |  | 63 |
Purchases |  | 156 |  |  | 921 |  |  | 4 |  |  |  |  | 9 |  |  | 3 |  |  |  |  |  |  |  | — |
Sales |  | (59) |  |  | (85) |  |  | — |  |  |  |  | (12) |  |  | — |  |  |  |  |  |  |  | — |
Settlements |  | (107) |  |  | (292) |  |  | (10) |  |  |  |  | — |  |  | (5) |  |  |  |  |  |  |  | — |
Other |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  | (72) |
Balance, end of year |  | $ | 564 |  |  | $ | 2,449 |  |  | $ | 11 |  |  |  |  | $ | 90 |  |  | $ | 3 |  |  |  |  |  |  |  | $ | 736 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date |  | $ | (2) |  |  | $ | (9) |  |  | $ | — |  |  |  |  | $ | 14 |  |  | $ | (1) |  |  |  |  |  |  |  | $ | 63 |
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date |  | $ | (53) |  |  | $ | (84) |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  | $ | — |
(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
| Assets |  |  |  | Liabilities
| Available-for-Sale Debt Securities |  | Equity securities |  | Short-term investments |  | Other investments |  |  |  | GLB (1)
Year Ended December 31, 2021 | Non-U.S. |  | Corporate and asset-backed securities |  | Mortgage-backed securities |
(in millions of U.S. dollars) |  |  |  |  |  |
Balance, beginning of year | $ | 546 |  |  | $ | 1,573 |  |  | $ | 60 |  |  | $ | 73 |  |  | $ | 5 |  |  | $ | 10 |  |  |  |  | $ | 1,089 |
Transfers into Level 3 | 24 |  |  | 91 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Transfers out of Level 3 | (11) |  |  | (76) |  |  | (18) |  |  | — |  |  | — |  |  | (10) |  |  |  |  | — |
Change in Net Unrealized Gains/Losses in OCI | (30) |  |  | 15 |  |  | — |  |  | — |  |  | (1) |  |  | — |  |  |  |  | — |
Net Realized Gains/Losses | (1) |  |  | (2) |  |  | — |  |  | 8 |  |  | — |  |  | — |  |  |  |  | (316) |
Purchases | 275 |  |  | 1,154 |  |  | 18 |  |  | 21 |  |  | 9 |  |  | — |  |  |  |  | — |
Sales | (48) |  |  | (99) |  |  | (1) |  |  | (25) |  |  | — |  |  | — |  |  |  |  | — |
Settlements | (122) |  |  | (607) |  |  | (33) |  |  | — |  |  | (6) |  |  | — |  |  |  |  | — |
Other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | (28) |
Balance, end of year | $ | 633 |  |  | $ | 2,049 |  |  | $ | 26 |  |  | $ | 77 |  |  | $ | 7 |  |  | $ | — |  |  |  |  | $ | 745 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | (316) |
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date | $ | (25) |  |  | $ | 17 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |
(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
| Assets |  |  | Liabilities
| Available-for-Sale Debt Securities |  |  |  | Short-term investments |  |  |  |  | GLB (1)
Year Ended December 31, 2020 | Non-U.S. |  | Corporate and asset-backed securities |  | Mortgage-backed securities |  | Equity securities |  |  | Other investments
(in millions of U.S. dollars) |  |  |  |
Balance, beginning of year | $ | 449 |  |  | $ | 1,451 |  |  | $ | 60 |  |  | $ | 69 |  |  | $ | 6 |  |  | $ | 10 |  |  |  | $ | 897 |
Transfers into Level 3 | — |  |  | 134 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | — |
Transfers out of Level 3 | (16) |  |  | (73) |  |  | (1) |  |  | (3) |  |  | — |  |  | — |  |  |  | — |
Change in Net Unrealized Gains/Losses in OCI | 19 |  |  | (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | — |
Net Realized Gains/Losses | (1) |  |  | (30) |  |  | — |  |  | 1 |  |  | (1) |  |  | — |  |  |  | 202 |
Purchases | 274 |  |  | 708 |  |  | 2 |  |  | 23 |  |  | 14 |  |  | — |  |  |  | — |
Sales | (122) |  |  | (186) |  |  | — |  |  | (17) |  |  | (2) |  |  | — |  |  |  | — |
Settlements | (57) |  |  | (423) |  |  | (1) |  |  | — |  |  | (12) |  |  | — |  |  |  | — |
Other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (10) |
Balance, end of year | $ | 546 |  |  | $ | 1,573 |  |  | $ | 60 |  |  | $ | 73 |  |  | $ | 5 |  |  | $ | 10 |  |  |  | $ | 1,089 |
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date | $ | — |  |  | $ | (5) |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  |  | $ | 202 |
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date | $ | 16 |  |  | $ | (6) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  | $ | — |
(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value |
December 31, 2022 | Fair Value |  | Net Carrying Value
(in millions of U.S. dollars) | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets: |  |  |  |  |  |  |  |  |
Fixed maturities held to maturity |  |  |  |  |  |  |  |  |
U.S. Treasury / Agency | $ | 1,299 |  |  | $ | 71 |  |  | $ | — |  |  | $ | 1,370 |  |  | $ | 1,417 |
Non-U.S. | — |  |  | 1,054 |  |  | — |  |  | 1,054 |  |  | 1,136 |
Corporate and asset-backed securities | — |  |  | 1,580 |  |  | — |  |  | 1,580 |  |  | 1,705 |
Mortgage-backed securities | — |  |  | 1,351 |  |  | — |  |  | 1,351 |  |  | 1,455 |
Municipal | — |  |  | 3,084 |  |  | — |  |  | 3,084 |  |  | 3,135 |
Total assets | $ | 1,299 |  |  | $ | 7,140 |  |  | $ | — |  |  | $ | 8,439 |  |  | $ | 8,848 |
Liabilities: |  |  |  |  |  |  |  |  |
Repurchase agreements | $ | — |  |  | $ | 1,419 |  |  | $ | — |  |  | $ | 1,419 |  |  | $ | 1,419 |
Short-term debt | — |  |  | 473 |  |  | — |  |  | 473 |  |  | 475 |
Long-term debt | — |  |  | 12,495 |  |  | — |  |  | 12,495 |  |  | 14,402 |
Trust preferred securities | — |  |  | 383 |  |  | — |  |  | 383 |  |  | 308 |
Total liabilities | $ | — |  |  | $ | 14,770 |  |  | $ | — |  |  | $ | 14,770 |  |  | $ | 16,604 |
December 31, 2021 | Fair Value |  | Net Carrying Value
(in millions of U.S. dollars) | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets: |  |  |  |  |  |  |  |  |
Fixed maturities held to maturity |  |  |  |  |  |  |  |  |
U.S. Treasury / Agency | $ | 1,192 |  |  | $ | 52 |  |  | $ | — |  |  | $ | 1,244 |  |  | $ | 1,213 |
Non-U.S. | — |  |  | 1,262 |  |  | — |  |  | 1,262 |  |  | 1,196 |
Corporate and asset-backed securities | — |  |  | 2,201 |  |  | — |  |  | 2,201 |  |  | 2,004 |
Mortgage-backed securities | — |  |  | 1,803 |  |  | — |  |  | 1,803 |  |  | 1,730 |
Municipal | — |  |  | 4,137 |  |  | — |  |  | 4,137 |  |  | 3,975 |
Total assets | $ | 1,192 |  |  | $ | 9,455 |  |  | $ | — |  |  | $ | 10,647 |  |  | $ | 10,118 |
Liabilities: |  |  |  |  |  |  |  |  |
Repurchase agreements | $ | — |  |  | $ | 1,406 |  |  | $ | — |  |  | $ | 1,406 |  |  | $ | 1,406 |
Short-term debt | — |  |  | 1,019 |  |  | — |  |  | 1,019 |  |  | 999 |
Long-term debt | — |  |  | 16,848 |  |  | — |  |  | 16,848 |  |  | 15,169 |
Trust preferred securities | — |  |  | 460 |  |  | — |  |  | 460 |  |  | 308 |
Total liabilities | $ | — |  |  | $ | 19,733 |  |  | $ | — |  |  | $ | 19,733 |  |  | $ | 17,882 |

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