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FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Millions | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($)
--- | --- | ---
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | $ 74,505 | $ 75,741
Equity securities |  | 965 | 1,091
Total assets |  | 83,564 | 82,924
Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 1,627 | 1,778
Equity securities |  | 213 | 209
Total assets |  | 1,840 | 1,987
Valuation, Cost Approach | Level 3 | Private Financials |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Equity securities |  | 213 | 209
Municipalities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 2,323 | 2,320
Municipalities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 0 | 0
Mortgage- and asset-backed securities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 2,855 | 2,146
Mortgage- and asset-backed securities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 652 | 343
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | $ 652 | $ 343
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [1] | 81.82 | 97.38
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [1] | 107.45 | 106.71
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [1] | 98.37 | 102.98
Public utilities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | $ 7,569 | $ 7,666
Public utilities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 302 | 497
Public utilities | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | $ 302 | $ 497
Public utilities | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] | 0.0160 | 0.0128
Public utilities | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] | 0.0298 | 0.0286
Public utilities | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] | 0.0213 | 0.0192
Sovereign and supranational |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | $ 674 | $ 834
Sovereign and supranational | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 32 | 37
Sovereign and supranational | Consensus pricing valuation technique | Level 3 | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 32 | 37
Banks/financial institutions |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 8,849 | 9,299
Banks/financial institutions | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 69 | 159
Banks/financial institutions | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 69 | $ 159
Banks/financial institutions | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] |  | 0.0067
Banks/financial institutions | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] |  | 0.0188
Banks/financial institutions | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] |  | 0.0113
Other corporate |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 28,282 | $ 28,362
Other corporate | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | 572 | 742
Other corporate | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Available for sale, fixed maturity securities |  | $ 572 | $ 742
Other corporate | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] | 0.0067 | 0.0066
Other corporate | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] | 0.0294 | 0.0647
Other corporate | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Debt Securities, Available-for-Sale, Measurement Input | [2] | 0.0196 | 0.0191
[1] | Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques.
[2] | Actual or equivalent credit spreads in basis points.

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