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v3.25.1

Fair Value Measurements - Fair Value Recurring Basis, Unobservable Input (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Liabilities |  |
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] | Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Net realized gains (losses) | Net realized gains (losses)
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring |  |
Assets |  |
Beginning balance | $ 2,992 | $ 2,487
Total realized/unrealized gains (losses), Included in net income | (4) | 3
Total realized/unrealized gains (losses), Included in OCI | 19 | (5)
Purchases | 454 | 291
Settlements | (151) | (49)
Sales | (11) | (2)
Transfers into Level 3 | 73 | 6
Transfers out of Level 3 | (148) | (47)
Ending balance | 3,224 | 2,684
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | Equity securities, at fair value |  |
Assets |  |
Beginning balance | 87 | 58
Total realized/unrealized gains (losses), Included in net income | (1) | 0
Total realized/unrealized gains (losses), Included in OCI | 0 | 0
Purchases | 8 | 0
Settlements | (3) | 0
Sales | 0 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Ending balance | 91 | 58
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | Short-term investments |  |
Assets |  |
Beginning balance | 98 | 25
Total realized/unrealized gains (losses), Included in net income | 0 | 0
Total realized/unrealized gains (losses), Included in OCI | 0 | 0
Purchases | 10 | 1
Settlements | (49) | 0
Sales | 0 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Ending balance | 59 | 26
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | Available-for-sale Securities [Member] | Total Fixed Maturities, AFS |  |
Assets |  |
Beginning balance | 2,610 | 2,237
Total realized/unrealized gains (losses), Included in net income | 1 | 0
Total realized/unrealized gains (losses), Included in OCI | 19 | (5)
Purchases | 430 | 290
Settlements | (95) | (46)
Sales | (11) | (2)
Transfers into Level 3 | 73 | 6
Transfers out of Level 3 | (148) | (47)
Ending balance | 2,879 | 2,433
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | Fair Value Option, Other Eligible Items | Total Fixed Maturities, AFS |  |
Assets |  |
Beginning balance | 197 | 167
Total realized/unrealized gains (losses), Included in net income | (4) | 3
Total realized/unrealized gains (losses), Included in OCI | 0 | 0
Purchases | 6 | 0
Settlements | (4) | (3)
Sales | 0 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Ending balance | 195 | 167
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | ABS | Available-for-sale Securities [Member] | Total Fixed Maturities, AFS |  |
Assets |  |
Beginning balance | 22 | 0
Total realized/unrealized gains (losses), Included in net income | 0 | 0
Total realized/unrealized gains (losses), Included in OCI | 1 | 0
Purchases | 34 | 16
Settlements | (1) | 0
Sales | 0 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Ending balance | 56 | 16
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | Collateralized Loan Obligations [Member] | Available-for-sale Securities [Member] | Total Fixed Maturities, AFS |  |
Assets |  |
Beginning balance | 116 | 113
Total realized/unrealized gains (losses), Included in net income | 0 | 0
Total realized/unrealized gains (losses), Included in OCI | 0 | 0
Purchases | 208 | 130
Settlements | (1) | (12)
Sales | 0 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | (90) | (47)
Ending balance | 233 | 184
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | CMBS | Available-for-sale Securities [Member] | Total Fixed Maturities, AFS |  |
Assets |  |
Beginning balance | 167 | 227
Total realized/unrealized gains (losses), Included in net income | 0 | 0
Total realized/unrealized gains (losses), Included in OCI | 3 | 10
Purchases | 0 | 0
Settlements | 0 | (2)
Sales | (2) | 0
Transfers into Level 3 | 35 | 6
Transfers out of Level 3 | (53) | 0
Ending balance | 150 | 241
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | Corporate | Available-for-sale Securities [Member] | Total Fixed Maturities, AFS |  |
Assets |  |
Beginning balance | 2,281 | 1,861
Total realized/unrealized gains (losses), Included in net income | 1 | 0
Total realized/unrealized gains (losses), Included in OCI | 15 | (15)
Purchases | 164 | 106
Settlements | (89) | (27)
Sales | (9) | (2)
Transfers into Level 3 | 38 | 0
Transfers out of Level 3 | 0 | 0
Ending balance | 2,401 | 1,923
Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Recurring | RMBS | Available-for-sale Securities [Member] | Total Fixed Maturities, AFS |  |
Assets |  |
Beginning balance | 24 | 36
Total realized/unrealized gains (losses), Included in net income | 0 | 0
Total realized/unrealized gains (losses), Included in OCI | 0 | 0
Purchases | 24 | 38
Settlements | (4) | (5)
Sales | 0 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | (5) | 0
Ending balance | $ 39 | $ 69

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