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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income Tax Expense

			For the years ended December 31,
			2024			2023			2022
Income tax expense (benefit)
Current - U.S. federal			$	783		$	582		$	550
Foreign			2			—			(1)
Total current			785			582			549
Deferred - U.S. federal			(57)			6			(124)
Foreign			10			(4)			18
Total deferred			(47)			2			(106)
Total income tax expense			$	738		$	584		$	443

Income Tax Rate Reconciliation

Income Tax Rate Reconciliation

			For the years ended December 31,
			2024			2023			2022
Tax provision at U.S. federal statutory rate			$	808		$	648		$	474
Nontaxable net investment income			(40)			(41)			(29)
Other			(30)			(23)			(2)
Provision for income taxes			$	738		$	584		$	443

Deferred Tax Assets (Liabilities)

Deferred Tax Assets (Liabilities)

			As of December 31,
			2024			2023
Deferred tax assets
Loss reserves and tax discount			$	550		$	517
Unearned premium reserve and other underwriting related reserves			517			483
Employee benefits			181			172
Net unrealized losses on investments			394			387
Net operating loss carryover			41			45
Other			—			1
Total deferred tax assets			1,683			1,605
Valuation allowance			—			(12)
Deferred tax assets, net of valuation allowance			1,683			1,593
Deferred tax liabilities
Deferred acquisition costs			(183)			(163)
Investment-related items			(167)			(110)
Other depreciable and amortizable assets			(91)			(147)
Other			(13)			—
Total deferred tax liabilities			(454)			(420)
Net deferred tax asset			$	1,229		$	1,173

Schedule of Unrecognized Tax Benefits Roll Forward

Rollforward of Unrecognized Tax Benefits

			For the years ended December 31,
			2024			2023			2022
Balance, beginning of period			$	26		$	22		$	16
Gross increases - tax positions in current period			3			5			6
Gross decreases - tax positions in current period			(1)			—			—
Lapse of statute of limitations			(4)			(1)			—
Balance, end of period			$	24		$	26		$	22

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Section 50
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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Tabular disclosure of the change in unrecognized tax benefits.

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