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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of September 30, 2024
TotalQuoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets accounted for at fair value on a recurring basis
Fixed maturities, AFS
Asset-backed securities ("ABS")
$3,512 $— $3,464 $48 
Collateralized loan obligations ("CLOs")
3,563 — 3,314 249 
Commercial mortgage-backed securities ("CMBS")
2,857 — 2,651 206 
Corporate20,558 — 18,301 2,257 
Foreign government/government agencies541 — 541 — 
Municipal5,654 — 5,654 — 
Residential mortgage-backed securities ("RMBS")
5,123 — 5,068 55 
U.S. Treasuries985 6 979 — 
Total fixed maturities, AFS42,793 6 39,972 2,815 
FVO securities263 — 111 152 
Equity securities, at fair value [1]634 345 212 77 
Derivative assets
Credit derivatives30 — 30 — 
Interest rate derivatives1 — 1 — 
Total derivative assets [2]31 — 31 — 
Short-term investments3,964 910 3,045 9 
Total assets accounted for at fair value on a recurring basis$47,685 $1,261 $43,371 $3,053 
Liabilities accounted for at fair value on a recurring basis
Derivative liabilities
Credit derivatives$(30)$— $(30)$— 
Equity derivatives5 — — 5 
Foreign exchange derivatives12 — 12 — 
Interest rate derivatives(6)— (6)— 
Total derivative liabilities [3](19)— (24)5 
Total liabilities accounted for at fair value on a recurring basis$(19)$— $(24)$5 
Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of December 31, 2023
Total
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets accounted for at fair value on a recurring basis
Fixed maturities, AFS
ABS$3,320 $— $3,320 $— 
CLOs3,090 — 2,977 113 
CMBS3,125 — 2,898 227 
Corporate17,866 — 16,005 1,861 
Foreign government/government agencies562 — 562 — 
Municipal6,039 — 6,039 — 
RMBS4,287 — 4,251 36 
U.S. Treasuries1,529 18 1,511 — 
Total fixed maturities, AFS39,818 18 37,563 2,237 
FVO securities327 — 160 167 
Equity securities, at fair value [1]864 333 473 58 
Derivative assets
Credit derivatives(10)— (10)— 
Foreign exchange derivatives9 — 9 — 
Total derivative assets [2](1)— (1)— 
Short-term investments3,850 1,400 2,425 25 
Total assets accounted for at fair value on a recurring basis$44,858 $1,751 $40,620 $2,487 
Liabilities accounted for at fair value on a recurring basis
Derivative liabilities
Credit derivatives$10 $— $10 $— 
Foreign exchange derivatives4 — 4 — 
Interest rate derivatives(6)— (6)— 
Total derivative liabilities [3]8 — 8 — 
Total liabilities accounted for at fair value on a recurring basis$8 $— $8 $— 
[1]Level 3 includes investments that have contractual sales restrictions that require consent to sell and are in place for the duration that the securities are held by the Company.
[2]Includes derivative instruments in a net positive fair value position after consideration of the accrued interest and impact of collateral posting requirements which may be imposed by agreements and applicable law. See footnote 3 to this table for derivative liabilities.
[3]Includes derivative instruments in a net negative fair value position (derivative liability) after consideration of the accrued interest and impact of collateral posting requirements which may be imposed by agreements and applicable law.
Fair Value Inputs, Assets, Quantitative Information
Significant Unobservable Inputs for Level 3 - Securities
Assets accounted for at fair value on a recurring basisFair
Value		Predominant
Valuation
Technique		Significant Unobservable InputMinimumMaximumWeighted Average [1]Impact of
Increase in
Input on Fair Value [2]
As of September 30, 2024
CLOs [3]$79 Discounted cash flowsSpread275 bps275 bps275 bpsDecrease
CMBS [3]$204 Discounted cash flowsSpread (encompasses prepayment, default risk and loss severity)250 bps1,204 bps444 bpsDecrease
Corporate [4]$2,141 Discounted cash flowsSpread34 bps798 bps314 bpsDecrease
RMBS [3]$50 Discounted cash flowsSpread [6]68 bps366 bps188 bpsDecrease
Constant prepayment rate [6]1%7%4%Decrease [5]
Constant default rate [6]1%4%2%Decrease
Loss severity [6]30%50%38%Decrease
Short-term investments [3]$3 Discounted cash flowsSpread508 bps551 bps535 bpsDecrease
As of December 31, 2023
CLOs [3]$98 Discounted cash flowsSpread268 bps270 bps269 bpsDecrease
CMBS [3]$226 Discounted cash flowsSpread (encompasses prepayment, default risk and loss severity)365 bps1,315 bps509 bpsDecrease
Corporate [4]$1,741 Discounted cash flowsSpread49 bps743 bps323 bpsDecrease
RMBS$36 Discounted cash flowsSpread [6]32 bps298 bps161 bpsDecrease
Constant prepayment rate [6]1%5%4%Decrease [5]
Constant default rate [6]1%5%2%Decrease
Loss severity [6]10%70%41%Decrease
Short-term investments [3]$15 Discounted cash flowsSpread579 bps1,254 bps1,225 bpsDecrease
[1]The weighted average is determined based on the fair value of the securities.
[2]Conversely, the impact of a decrease in input would have the opposite impact to the fair value as that presented in the table.
[3]Excludes securities for which the Company bases fair value on broker quotations.
[4]Excludes securities for which the Company bases fair value on broker quotations; however, included are broker priced lower-rated private placement securities for which the Company receives spread and yield information to corroborate the fair value.
[5]Decrease for above market rate coupons and increase for below market rate coupons.
[6]Generally, a change in the assumption used for the constant default rate would have been accompanied by a directionally similar change in the assumption used for the loss severity and a directionally opposite change in the assumption used for constant prepayment rate and would have resulted in wider spreads
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the
Three Months Ended September 30, 2024
Total realized/unrealized gains (losses)
Fair value as of June 30, 2024Included in net income [1]Included in OCI [2]Purchases SettlementsSalesTransfers into Level 3 [3]Transfers out of Level 3 [3]Fair value as of September 30, 2024
Assets
Fixed maturities, AFS
ABS$8 $— $— $40 $— $— $— $— $48 
CLOs500 — — 215 (6)— — (460)249 
CMBS190 (2)3 — (3)(10)28 — 206 
Corporate2,061 — 61 246 (107)(13)9 — 2,257 
RMBS40 — — 33 (4)— — (14)55 
Total fixed maturities, AFS2,799 (2)64 534 (120)(23)37 (474)2,815 
FVO securities160 (5)— — (3)— — — 152 
Equity securities, at fair value58 4 — 19 (1)(3)— — 77 
Short-term investments25 — — 3 (19)— — — 9 
Total Assets$3,042 $(3)$64 $556 $(143)$(26)$37 $(474)$3,053 
Liabilities
Derivatives, net [4]
Equity$— $— $— $5 $— $— $— $— $5 
Total Derivatives, net [4]— — — 5 — — — — 5 
Total Liabilities$— $— $— $5 $— $— $— $— $5 
Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the
 Nine Months Ended September 30, 2024
Total realized/unrealized gains (losses)
Fair value as of January 1, 2024Included in net income [1]Included in OCI [2]Purchases SettlementsSalesTransfers into Level 3 [3]Transfers out of Level 3 [3]Fair value as of September 30, 2024
Assets
Fixed maturities, AFS
ABS$— $— $— $56 $— $— $— $(8)$48 
CLOs113 — — 805 (32)— — (637)249 
CMBS227 (4)15 — (8)(58)34 — 206 
Corporate1,861 — 28 558 (183)(16)9 — 2,257 
RMBS36 — — 85 (14)— — (52)55 
Total fixed maturities, AFS2,237 (4)43 1,504 (237)(74)43 (697)2,815 
FVO securities167 (4)— — (11)— — — 152 
Equity securities, at fair value58 4 — 19 (1)(3)— — 77 
Short-term investments25 — — 4 (20)— — — 9 
Total Assets$2,487 $(4)$43 $1,527 $(269)$(77)$43 $(697)$3,053 
Liabilities
Derivatives, net [4]
Equity$— $— $— $5 $— $— $— $— $5 
Total Derivatives, net [4]— — — 5 — — — — 5 
Total Liabilities$— $— $— $5 $— $— $— $— $5 
Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the
 Three Months Ended September 30, 2023
Total realized/unrealized gains (losses)
Fair value as of June 30, 2023Included in net income [1]Included in OCI [2]Purchases SettlementsSalesTransfers into Level 3 [3]Transfers out of Level 3 [3]Fair value as of September 30, 2023
Assets
Fixed maturities, AFS
ABS$— $— $— $46 $— $— $— $— $46 
CLOs85 — — 15 (3)— — — 97 
CMBS238 — 1 — (14)— 1 — 226 
Corporate1,622 (4)(24)113 (69)(1)19 (1)1,655 
RMBS69 — — 21 (7)— — (19)64 
Total fixed maturities, AFS2,014 (4)(23)195 (93)(1)20 (20)2,088 
FVO securities163 13 — — (3)— — — 173 
Equity securities, at fair value59 — — — (1)— — — 58 
Short-term investments186 — — 2 (3)— — — 185 
Total Assets$2,422 $9 $(23)$197 $(100)$(1)$20 $(20)$2,504 
Fair Value Rollforwards for Financial Instruments Classified as Level 3 for the
 Nine Months Ended September 30, 2023
Total realized/unrealized gains (losses)
Fair value as of January 1, 2023Included in net income [1]Included in OCI [2]PurchasesSettlementsSalesTransfers into Level 3 [3]Transfers out of Level 3 [3]Fair value as of September 30, 2023
Assets
Fixed maturities, AFS
ABS$30 $— $— $82 $— $— $— $(66)$46 
CLOs115 — — 55 (33)— — (40)97 
CMBS222 (2)3 6 (15)(5)17 — 226 
Corporate1,589 (5)4 230 (150)(10)50 (53)1,655 
RMBS95 — — 40 (22)— — (49)64 
Total fixed maturities, AFS2,051 (7)7 413 (220)(15)67 (208)2,088 
FVO securities178 — — — (5)— — — 173 
Equity securities, at fair value61 (2)— 1 (2)— — — 58 
Short-term investments193 — — 6 (14)— — — 185 
Total Assets$2,483 $(9)$7 $420 $(241)$(15)$67 $(208)$2,504 
[1]Amounts in these columns are generally reported in net realized gains (losses). All amounts are before income taxes.
[2]All amounts are before income taxes.
[3]Transfers into and/or (out of) Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs.
[4]Derivative instruments are reported in this table on a net basis for asset (liability) positions and reported in the Condensed Consolidated Balance Sheets in other investments and other liabilities.
Changes in Unrealized Gains (Losses) for Financial Instruments Classified as
Level 3 Still Held at End of Period
Three Months Ended September 30,Nine Months Ended September 30,
20242023202420232024202320242023
Changes in Unrealized Gain/(Loss) included in Net Income [1] [2]Changes in Unrealized Gain/(Loss) included in OCI [3]                Changes in Unrealized Gain/(Loss) included in Net Income [1] [2]Changes in Unrealized Gain/(Loss) included in OCI [3]
Assets
Fixed maturities, AFS
CLOs$— $— $— $— $— $— $— $1 
CMBS— — 1 — — — 10 2 
Corporate— (4)58 (24)— (6)26 2 
Total fixed maturities, AFS— (4)59 (24)— (6)36 5 
FVO securities(5)13 — — (4)— — — 
Equity securities, at fair value3 — — — 3 (1)— — 
Total Assets$(2)$9 $59 $(24)$(1)$(7)$36 $5 
[1]All amounts in these rows are reported in net realized gains (losses). All amounts are before income taxes.
[2]Amounts presented are for Level 3 only and therefore may not agree to other disclosures included herein.
[3]Changes in unrealized gains (losses) on fixed maturities, AFS are reported in changes in net unrealized gain (loss) on fixed maturities in the Condensed Consolidated Statements of Comprehensive Income (Loss).
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
Financial Assets and Liabilities Not Carried at Fair Value
September 30, 2024December 31, 2023
Fair Value Hierarchy LevelCarrying Amount [1]Fair ValueFair Value Hierarchy LevelCarrying Amount [1]Fair Value
Assets
Mortgage loansLevel 3$6,415 $6,057 Level 3$6,087 $5,584 
Liabilities
Other policyholder funds and benefits payableLevel 3$613 $613 Level 3$638 $639 
Senior notes [2]Level 2$3,866 $3,615 Level 2$3,863 $3,533 
Junior subordinated debentures [2]Level 2$499 $463 Level 2$499 $429 
[1]As of September 30, 2024 and December 31, 2023, the carrying amount of mortgage loans is net of ACL of $44 and $51, respectively.
[2]Included in long-term debt in the Condensed Consolidated Balance Sheets, except for any current maturities, which are included in short-term debt when applicable.