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v3.22.2.2

Fair Value Measurements - Fair Value by Hierarchy (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021
--- | --- | ---
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | $ 35,717 | $ 42,847
Fixed maturities, at fair value using the fair value option ("FVO") | 335 | 160
Equity securities, at fair value | 1,678 | 2,094
Derivative assets | 12 | 7
Short-term investments | 2,724 | 3,697
Total assets accounted for at fair value on a recurring basis | 40,466 | 48,805
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 74 | (49)
Total liabilities accounted for at fair value on a recurring basis | 74 | (49)
Credit derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 2 | 2
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | (2) | (4)
Foreign exchange derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 8 | 6
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 85 | 0
Interest rate derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 2 | (1)
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | (9) | (45)
Asset backed securities ("ABS") |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 1,892 | 1,135
Collateralized Loan Obligations [Member] |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 2,919 | 3,025
CMBS |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 3,278 | 4,119
Corporate |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 14,888 | 18,707
Foreign government/government agencies |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 584 | 910
Municipal |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 6,197 | 8,257
RMBS |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 3,724 | 3,643
U.S. Treasuries |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 2,235 | 3,051
Quoted Prices in Active Markets for Identical Assets (Level 1) |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 46 | 882
Fixed maturities, at fair value using the fair value option ("FVO") | 0 | 0
Equity securities, at fair value | 1,154 | 1,453
Derivative assets | 0 | 0
Short-term investments | 927 | 1,627
Total assets accounted for at fair value on a recurring basis | 2,127 | 3,962
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 0 | 0
Total liabilities accounted for at fair value on a recurring basis | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Credit derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 0 | 0
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign exchange derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 0 | 0
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 0 | 0
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset backed securities ("ABS") |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized Loan Obligations [Member] |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | CMBS |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign government/government agencies |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | RMBS |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasuries |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 46 | 882
Significant Observable Inputs (Level 2) |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 33,582 | 39,561
Fixed maturities, at fair value using the fair value option ("FVO") | 149 | 0
Equity securities, at fair value | 463 | 577
Derivative assets | 12 | 6
Short-term investments | 1,704 | 1,990
Total assets accounted for at fair value on a recurring basis | 35,910 | 42,134
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 74 | (48)
Total liabilities accounted for at fair value on a recurring basis | 74 | (48)
Significant Observable Inputs (Level 2) | Credit derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 2 | 2
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | (2) | (4)
Significant Observable Inputs (Level 2) | Foreign exchange derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 8 | 5
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 85 | 1
Significant Observable Inputs (Level 2) | Interest rate derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 2 | (1)
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | (9) | (45)
Significant Observable Inputs (Level 2) | Asset backed securities ("ABS") |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 1,892 | 1,135
Significant Observable Inputs (Level 2) | Collateralized Loan Obligations [Member] |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 2,764 | 2,768
Significant Observable Inputs (Level 2) | CMBS |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 3,058 | 3,923
Significant Observable Inputs (Level 2) | Corporate |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 13,286 | 17,089
Significant Observable Inputs (Level 2) | Foreign government/government agencies |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 580 | 905
Significant Observable Inputs (Level 2) | Municipal |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 6,197 | 8,257
Significant Observable Inputs (Level 2) | RMBS |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 3,616 | 3,315
Significant Observable Inputs (Level 2) | U.S. Treasuries |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 2,189 | 2,169
Significant Unobservable Inputs (Level 3) |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 2,089 | 2,404
Fixed maturities, at fair value using the fair value option ("FVO") | 186 | 160
Equity securities, at fair value | 61 | 64
Derivative assets | 0 | 1
Short-term investments | 93 | 80
Total assets accounted for at fair value on a recurring basis | 2,429 | 2,709
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 0 | (1)
Total liabilities accounted for at fair value on a recurring basis | 0 | (1)
Significant Unobservable Inputs (Level 3) | Credit derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 0 | 0
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 0 | 0
Significant Unobservable Inputs (Level 3) | Foreign exchange derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 0 | 1
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 0 | (1)
Significant Unobservable Inputs (Level 3) | Interest rate derivatives |  |
Assets accounted for at fair value on a recurring basis |  |
Derivative assets | 0 | 0
Liabilities accounted for at fair value on a recurring basis |  |
Derivative liabilities | 0 | 0
Significant Unobservable Inputs (Level 3) | Asset backed securities ("ABS") |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Significant Unobservable Inputs (Level 3) | Collateralized Loan Obligations [Member] |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 155 | 257
Significant Unobservable Inputs (Level 3) | CMBS |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 220 | 196
Significant Unobservable Inputs (Level 3) | Corporate |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 1,602 | 1,618
Significant Unobservable Inputs (Level 3) | Foreign government/government agencies |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 4 | 5
Significant Unobservable Inputs (Level 3) | Municipal |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 0 | 0
Significant Unobservable Inputs (Level 3) | RMBS |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | 108 | 328
Significant Unobservable Inputs (Level 3) | U.S. Treasuries |  |
Assets accounted for at fair value on a recurring basis |  |
Debt Securities, Available-for-sale | $ 0 | $ 0

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