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FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Millions | Jun. 30, 2024 USD ($) | Dec. 31, 2023 USD ($)
--- | --- | ---
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 66,259 | $ 73,290
Equity securities |  | 728 | 1,088
Total assets |  | 76,743 | 80,325
Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 2,056 | 1,781
Equity securities |  | 157 | 248
Total assets |  | 2,213 | 2,029
Adjusted cost valuation technique | Level 3 | Private Financials |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Equity securities |  | 157 | 248
Municipalities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 2,083 | 2,298
Municipalities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 0 | 0
Mortgage- and asset-backed securities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 3,703 | 3,086
Mortgage- and asset-backed securities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 1,213 | 772
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 1,213 | $ 772
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] | 85.46 | 84.81
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] | 104.49 | 105.89
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] | 98.74 | 99.39
Public utilities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 6,826 | $ 7,592
Public utilities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 365 | 253
Public utilities | Consensus pricing valuation technique | Level 3 | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  |  | $ 253
Public utilities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] |  | 94.34
Public utilities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] |  | 102.99
Public utilities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] |  | 96.46
Public utilities | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 365 |
Public utilities | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0175 |
Public utilities | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0225 |
Public utilities | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0209 |
Sovereign and supranational |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 460 | $ 537
Sovereign and supranational | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 25 | 30
Sovereign and supranational | Consensus pricing valuation technique | Level 3 | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 25 | 30
Banks/financial institutions |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 8,699 | 8,835
Banks/financial institutions | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 69 | 78
Banks/financial institutions | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 69 | 78
Other corporate |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 26,207 | 28,342
Other corporate | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 384 | 648
Other corporate | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 384 | $ 648
Other corporate | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0089 | 0.0069
Other corporate | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0363 | 0.0423
Other corporate | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0224 | 0.0206
[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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