XML 104 R43.htm IDEA: XBRL DOCUMENT v3.25.0.1
Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets and (Liabilities) Carried at Fair Value by Hierarchy Level as of December 31, 2024
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    
Asset-backed securities ("ABS")$3,937 $— $3,915 $22 
Collateralized loan obligations ("CLOs")3,250 — 3,134 116 
Commercial mortgage-backed securities ("CMBS")2,736 — 2,569 167 
Corporate20,636 — 18,355 2,281 
Foreign government/government agencies480 — 480 — 
Municipal5,304 — 5,304 — 
Residential mortgage-backed securities ("RMBS")5,230 — 5,206 24 
U.S. Treasuries994 57 937 — 
Total fixed maturities, AFS42,567 57 39,900 2,610 
FVO securities308 — 111 197 
Equity securities, at fair value [1]603 372 144 87 
Derivative assets
Credit derivatives30 — 30 — 
Equity derivatives4 — 4 — 
Foreign exchange derivatives23 — 23 — 
Total derivative assets [2]57 — 57 — 
Short-term investments4,068 1,271 2,699 98 
Total assets accounted for at fair value on a recurring basis$47,603 $1,700 $42,911 $2,992 
Liabilities accounted for at fair value on a recurring basis    
Derivative liabilities    
Credit derivatives$(30)$— $(30)$— 
Foreign exchange derivatives18 — 18 — 
Total derivative liabilities [3](12)— (12)— 
Total liabilities accounted for at fair value on a recurring basis$(12)$— $(12)$— 
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.