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Separate accounts (Tables) | 6 Months Ended
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Jun. 30, 2023
Separate Accounts Disclosure [Abstract] |
Fair Value, Separate Account Investment | The following table presents the aggregate fair value of Separate account assets, by major security type:
| June 30 |  | December 31
(in millions of U.S. dollars) | 2023 |  | 2022
Cash and cash equivalents | $ | 98 |  |  | $ | 141 |
Mutual funds | 5,382 |  |  | 4,960 |
Fixed maturities | 94 |  |  | 89 |
Total | $ | 5,574 |  |  | $ | 5,190 |
Separate Account, Liability | The following table presents a roll-forward of separate account liabilities:
| Six Months Ended
| June 30
(in millions of U.S. dollars) | 2023 |  | 2022
Balance – beginning of period | $ | 5,190 |  |  | $ | 5,560 |
Premiums and deposits | 517 |  |  | 796 |
Policy charges | (70) |  |  | (60) |
Surrenders and withdrawals | (246) |  |  | (196) |
Benefit payments | (193) |  |  | (193) |
Investment performance | 361 |  |  | (936) |
Other (including foreign exchange) | 15 |  |  | (146) |
Balance – end of period | $ | 5,574 |  |  | $ | 4,825 |
Cash surrender value (1) | $ | 5,369 |  |  | $ | 4,625 |
(1) Cash surrender value represents the amount of the contract holder's account balances distributable at the balance sheet date less certain surrender charges.

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