XML 64 R52.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Fair Value of Financial Instruments - Carrying Amounts of Assets and Liabilities at Estimated Fair Value Measured on a Recurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets    
Fixed maturity securities available for sale $ 45,746 $ 42,373
Derivative asset and reinsurance related embedded derivative, included in other assets 1,032 797
Market risk benefits asset 103 88
Total financial assets at fair value 1,386 1,312
Derivatives:    
Market risk benefits liability 459 403
Level 1    
Assets    
Cash and cash equivalents 4,890 2,767
Short term investments 812 2,111
Derivative asset and reinsurance related embedded derivative, included in other assets 0 0
Investment in unconsolidated affiliates 0 0
Market risk benefits asset 0 0
Other assets 0  
Total financial assets at fair value 7,296 6,566
Derivatives:    
Contingent consideration obligation 0  
Market risk benefits liability 0 0
Total financial liabilities at fair value 4 1
Level 2    
Assets    
Cash and cash equivalents 0 0
Short term investments 4 8
Derivative asset and reinsurance related embedded derivative, included in other assets 1,024 740
Investment in unconsolidated affiliates 0 0
Market risk benefits asset 0 0
Other assets 0  
Total financial assets at fair value 36,048 33,703
Derivatives:    
Contingent consideration obligation 0  
Market risk benefits liability 0 0
Total financial liabilities at fair value 0 0
Level 3    
Assets    
Cash and cash equivalents 0 0
Short term investments 71 0
Derivative asset and reinsurance related embedded derivative, included in other assets 8 57
Investment in unconsolidated affiliates 358 285
Market risk benefits asset 103 88
Other assets 50  
Total financial assets at fair value 11,068 9,677
Derivatives:    
Contingent consideration obligation 63  
Market risk benefits liability 459 403
Total financial liabilities at fair value 5,398 4,661
NAV    
Assets    
Total financial assets at fair value 61 59
Fair Value    
Assets    
Cash and cash equivalents 4,890 2,767
Short term investments 887 2,119
Derivative asset and reinsurance related embedded derivative, included in other assets 1,032 797
Investment in unconsolidated affiliates 358 285
Market risk benefits asset 103 88
Other assets 50  
Total financial assets at fair value 54,473 50,005
Derivatives:    
Contingent consideration obligation 63  
Market risk benefits liability 459 403
Total financial liabilities at fair value 5,402 4,662
Reinsurance related embedded derivative, included in other assets | Level 1    
Assets    
Derivative asset and reinsurance related embedded derivative, included in other assets 0 0
Reinsurance related embedded derivative, included in other assets | Level 2    
Assets    
Derivative asset and reinsurance related embedded derivative, included in other assets 144 152
Reinsurance related embedded derivative, included in other assets | Level 3    
Assets    
Derivative asset and reinsurance related embedded derivative, included in other assets 0 0
Reinsurance related embedded derivative, included in other assets | Fair Value    
Assets    
Derivative asset and reinsurance related embedded derivative, included in other assets 144 152
Indexed annuities/indexed universal life insurance ("IUL") embedded derivatives, included in contractholder funds | Level 1    
Derivatives:    
Derivative liability 0 0
Indexed annuities/indexed universal life insurance ("IUL") embedded derivatives, included in contractholder funds | Level 2    
Derivatives:    
Derivative liability 0 0
Indexed annuities/indexed universal life insurance ("IUL") embedded derivatives, included in contractholder funds | Level 3    
Derivatives:    
Derivative liability 4,848 4,258
Indexed annuities/indexed universal life insurance ("IUL") embedded derivatives, included in contractholder funds | Fair Value    
Derivatives:    
Derivative liability 4,848 4,258
Interest rate swaps | Level 1    
Derivatives:    
Derivative liability 0  
Interest rate swaps | Level 2    
Derivatives:    
Derivative liability 0  
Interest rate swaps | Level 3    
Derivatives:    
Derivative liability 28  
Interest rate swaps | Fair Value    
Derivatives:    
Derivative liability 28  
Equity options | Level 1    
Derivatives:    
Derivative liability 4 1
Equity options | Level 2    
Derivatives:    
Derivative liability 0 0
Equity options | Level 3    
Derivatives:    
Derivative liability 0 0
Equity options | Fair Value    
Derivatives:    
Derivative liability 4 1
Asset-backed securities ("ABS")    
Assets    
Fixed maturity securities available for sale 15,559 14,342
Asset-backed securities ("ABS") | Level 1    
Assets    
Fixed maturity securities available for sale 0 0
Asset-backed securities ("ABS") | Level 2    
Assets    
Fixed maturity securities available for sale 7,517 7,220
Asset-backed securities ("ABS") | Level 3    
Assets    
Fixed maturity securities available for sale 8,042 7,122
Asset-backed securities ("ABS") | Fair Value    
Assets    
Fixed maturity securities available for sale 15,559 14,342
Commercial mortgage-backed securities    
Assets    
Fixed maturity securities available for sale 4,989 4,475
Commercial mortgage-backed securities | Level 1    
Assets    
Fixed maturity securities available for sale 0 0
Commercial mortgage-backed securities | Level 2    
Assets    
Fixed maturity securities available for sale 4,974 4,457
Commercial mortgage-backed securities | Level 3    
Assets    
Fixed maturity securities available for sale 15 18
Commercial mortgage-backed securities | Fair Value    
Assets    
Fixed maturity securities available for sale 4,989 4,475
Corporates    
Assets    
Fixed maturity securities available for sale 19,684 17,896
Corporates | Level 1    
Assets    
Fixed maturity securities available for sale 33 25
Corporates | Level 2    
Assets    
Fixed maturity securities available for sale 17,296 15,892
Corporates | Level 3    
Assets    
Fixed maturity securities available for sale 2,355 1,979
Corporates | Fair Value    
Assets    
Fixed maturity securities available for sale 19,684 17,896
Hybrids    
Assets    
Fixed maturity securities available for sale 639 618
Hybrids | Level 1    
Assets    
Fixed maturity securities available for sale 96 95
Hybrids | Level 2    
Assets    
Fixed maturity securities available for sale 543 523
Hybrids | Level 3    
Assets    
Fixed maturity securities available for sale 0 0
Hybrids | Fair Value    
Assets    
Fixed maturity securities available for sale 639 618
Municipals | Level 1    
Assets    
Fixed maturity securities available for sale 0 0
Municipals | Level 2    
Assets    
Fixed maturity securities available for sale 1,464 1,562
Municipals | Level 3    
Assets    
Fixed maturity securities available for sale 0 49
Municipals | Fair Value    
Assets    
Fixed maturity securities available for sale 1,464 1,611
Residential mortgage-backed securities    
Assets    
Fixed maturity securities available for sale 2,454 2,429
Residential mortgage-backed securities | Level 1    
Assets    
Fixed maturity securities available for sale 0 0
Residential mortgage-backed securities | Level 2    
Assets    
Fixed maturity securities available for sale 2,451 2,426
Residential mortgage-backed securities | Level 3    
Assets    
Fixed maturity securities available for sale 3 3
Residential mortgage-backed securities | Fair Value    
Assets    
Fixed maturity securities available for sale 2,454 2,429
U.S. Government    
Assets    
Fixed maturity securities available for sale 635 678
U.S. Government | Level 1    
Assets    
Fixed maturity securities available for sale 629 662
U.S. Government | Level 2    
Assets    
Fixed maturity securities available for sale 6 16
U.S. Government | Level 3    
Assets    
Fixed maturity securities available for sale 0 0
U.S. Government | Fair Value    
Assets    
Fixed maturity securities available for sale 635 678
Foreign Governments    
Assets    
Fixed maturity securities available for sale 322 324
Foreign Governments | Level 1    
Assets    
Fixed maturity securities available for sale 0 0
Foreign Governments | Level 2    
Assets    
Fixed maturity securities available for sale 317 308
Foreign Governments | Level 3    
Assets    
Fixed maturity securities available for sale 5 16
Foreign Governments | Fair Value    
Assets    
Fixed maturity securities available for sale 322 324
Preferred securities    
Assets    
Equity and preferred securities 505 621
Preferred securities | Level 1    
Assets    
Equity and preferred securities 189 214
Preferred securities | Level 2    
Assets    
Equity and preferred securities 308 399
Preferred securities | Level 3    
Assets    
Equity and preferred securities 8 8
Preferred securities | Fair Value    
Assets    
Equity and preferred securities 505 621
Equity securities | Level 1    
Assets    
Equity and preferred securities 647 692
Equity securities | Level 2    
Assets    
Equity and preferred securities 0 0
Equity securities | Level 3    
Assets    
Equity and preferred securities 13 15
Equity securities | NAV    
Assets    
Equity and preferred securities 61 59
Equity securities | Fair Value    
Assets    
Equity and preferred securities 721 766
Other long-term investments | Level 1    
Assets    
Other long-term investments 0 0
Other long-term investments | Level 2    
Assets    
Other long-term investments 0 0
Other long-term investments | Level 3    
Assets    
Other long-term investments 37 37
Other long-term investments | Fair Value    
Assets    
Other long-term investments $ 37 $ 37