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Investment Information - Summary of available for sale securities (Details) - USD ($) $ in Millions | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
--- | --- | --- | ---
Fixed maturities: |  |  |
Estimated fair value | $ 29,819 | $ 25,616 |
Gross Unrealized Gains | 181 | 276 |
Gross Unrealized Losses | (694) | (827) |
Allowance for Expected Credit Losses | (22) | (28) |
Cost or Amortized Cost | 30,354 | 26,195 |
Fixed maturities available for sale, at fair value |  |  |
Fixed maturities: |  |  |
Estimated fair value | 27,035 | 23,553 |
Gross Unrealized Gains | 179 | 275 |
Gross Unrealized Losses | (692) | (825) |
Allowance for Expected Credit Losses | (22) | (28) | $ (41)
Cost or Amortized Cost | 27,570 | 24,131 |
Corporate bonds |  |  |
Fixed maturities: |  |  |
Estimated fair value | 12,487 | 10,855 |
Gross Unrealized Gains | 110 | 157 |
Gross Unrealized Losses | (346) | (464) |
Allowance for Expected Credit Losses | (12) | (20) |
Cost or Amortized Cost | 12,735 | 11,182 |
US government and government agencies |  |  |
Fixed maturities: |  |  |
Estimated fair value | 6,710 | 5,814 |
Gross Unrealized Gains | 8 | 63 |
Gross Unrealized Losses | (149) | (86) |
Allowance for Expected Credit Losses | 0 | 0 |
Cost or Amortized Cost | 6,851 | 5,837 |
Asset backed securities |  |  |
Fixed maturities: |  |  |
Estimated fair value | 2,900 | 2,250 |
Gross Unrealized Gains | 19 | 11 |
Gross Unrealized Losses | (32) | (55) |
Allowance for Expected Credit Losses | (8) | (5) |
Cost or Amortized Cost | 2,921 | 2,299 |
Non-US government securities |  |  |
Fixed maturities: |  |  |
Estimated fair value | 2,538 | 2,062 |
Gross Unrealized Gains | 30 | 33 |
Gross Unrealized Losses | (107) | (100) |
Allowance for Expected Credit Losses | (1) | (1) | $ (2)
Cost or Amortized Cost | 2,616 | 2,130 |
Commercial mortgage backed securities |  |  |
Fixed maturities: |  |  |
Estimated fair value | 1,058 | 1,213 |
Gross Unrealized Gains | 6 | 3 |
Gross Unrealized Losses | (11) | (34) |
Allowance for Expected Credit Losses | (1) | (2) |
Cost or Amortized Cost | 1,064 | 1,246 |
Mortgage backed securities |  |  |
Fixed maturities: |  |  |
Estimated fair value | 1,079 | 1,103 |
Gross Unrealized Gains | 6 | 7 |
Gross Unrealized Losses | (31) | (66) |
Allowance for Expected Credit Losses | 0 | 0 |
Cost or Amortized Cost | 1,104 | 1,162 |
Municipal bonds |  |  |
Fixed maturities: |  |  |
Estimated fair value | 263 | 256 |
Gross Unrealized Gains | 0 | 1 |
Gross Unrealized Losses | (16) | (20) |
Allowance for Expected Credit Losses | 0 | 0 |
Cost or Amortized Cost | 279 | 275 |
Short-term investments |  |  |
Fixed maturities: |  |  |
Estimated fair value | 2,784 | 2,063 |
Gross Unrealized Gains | 2 | 1 |
Gross Unrealized Losses | (2) | (2) |
Allowance for Expected Credit Losses | 0 | 0 |
Cost or Amortized Cost | $ 2,784 | $ 2,064 |

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