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Income Taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
12. INCOME TAXES
Income Tax Expense
Income Tax Rate Reconciliation
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Tax provision at U.S. federal statutory rate$200 $171 $583 $449 
Nontaxable investment income(9)(12)(31)(32)
Other (6)3 (35)(12)
Provision for income taxes$185 $162 $517 $405 
Uncertain Tax Positions
Rollforward of Unrecognized Tax Benefits
 Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Balance, beginning of period$27 $23 $26 $22 
Gross increases - tax positions in current period1 2 2 4 
Gross decreases - tax positions in current period(1)— (1)— 
Lapse of statute of limitations(4)— (4)(1)
Balance, end of period$23 $25 $23 $25 
The entire amount of unrecognized tax benefits, if recognized, would affect the effective tax rate in the period of the release.
Other Tax Matters
Management has assessed the need for a valuation allowance against its deferred tax assets based on tax character and jurisdiction, and as part of this assessment, the Company reduced the valuation allowance related to the deferred tax asset for foreign net operating losses from $12 as of December 31, 2023 to $0 as of September 30, 2024. In making the assessment, management considered future taxable temporary difference reversals, future taxable income exclusive of reversing temporary differences and carryovers, taxable income in open carry back years and other tax planning strategies which management views as prudent and feasible.
The federal income tax audits for the Company have been completed through 2013. The acquired Navigators Group is currently under IRS audit for the pre-acquisition 2019 tax period. The statute of limitations is closed through the 2020 tax year with the exception of net operating loss carryforwards utilized in open tax years and the Navigators pre-acquisition 2019 tax period. Management believes that adequate provision has been made in the Company's Condensed Consolidated Financial Statements for any potential adjustments that may result from tax examinations and other tax-related matters for all open tax years.