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Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2022
Fair Value [Abstract] |
Fair Value Measurement Levels For All Assets And Liabilities | Fair Value Measurement Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in millions) September 30, 2022 (Level 1) (Level 2) (Level 3) Assets: Fixed maturities, available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 1,308 $ - $ 1,308 $ - Obligations of U.S. States and political subdivisions 481 - 481 - Corporate securities 6,397 - 5,678 719 Asset-backed securities 3,772 - 2,880 893 Mortgage-backed securities Commercial 908 - 908 - Agency residential 2,723 - 2,723 - Non-agency residential 5 - 5 - Foreign government securities 1,335 - 1,335 - Foreign corporate securities 4,080 - 4,064 16 Total fixed maturities, available for sale 21,009 - 19,381 1,628 Equity securities, fair value 1,301 1,212 89 - (Some amounts may not reconcile due to rounding.) Fair Value Measurement Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs (Dollars in millions) December 31, 2021 (Level 1) (Level 2) (Level 3) Assets: Fixed maturities, available for sale U.S. Treasury securities and obligations of U.S. government agencies and corporations $ 1,421 $ - $ 1,421 $ - Obligations of U.S. States and political subdivisions 587 - 587 - Corporate securities 7,557 - 6,756 801 Asset-backed securities 3,582 - 2,330 1,251 Mortgage-backed securities Commercial 1,064 - 1,064 - Agency residential 2,375 - 2,375 - Non-agency residential 7 - 7 - Foreign government securities 1,438 - 1,438 - Foreign corporate securities 4,279 - 4,262 16 Total fixed maturities, available for sale 22,308 - 20,240 2,068 Equity securities, fair value 1,826 1,742 84 - (Some amounts may not reconcile due to rounding.)
Activity Under Level 3, Fair Value Measurements Using Significant Unobservable Inputs By Asset Type | Total Fixed Maturities, Available for Sale Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Corporate Asset-Backed Foreign Corporate Asset-Backed Foreign (Dollars in millions) Securities Securities CMBS Corporate Total Securities Securities CMBS Corporate Total Beginning balance fixed maturities $ 863 $ 1,255 $ 6 $ 40 $ 2,164 $ 801 $ 1,251 $ - $ 16 $ 2,068 Total gains or (losses) (realized/unrealized) Included in earnings (2) - - - (2) 9 - - - 9 Included in other comprehensive income (loss) (6) 65 - - 59 (13) (11) - (4) (28) Purchases, issuances and settlements 27 159 - - 186 (43) 387 6 8 358 Transfers in/(out) of Level 3 and reclassification of securities in/(out) of investment categories (163) (587) (6) (24) (779) (35) (735) (6) (4) (779) Ending balance $ 719 $ 893 $ - $ 16 $ 1628 $ 719 $ 893 $ - $ 16 $ 1628 The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date $ (3) $ - $ - $ - $ (3) $ (8) $ 8 $ - $ - $ - (Some amounts may not reconcile due to rounding.) Total Fixed Maturities, Available for Sale Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Corporate Asset-Backed Foreign Corporate Asset-Backed Foreign (Dollars in millions) Securities Securities Corporate Total Securities Securities Corporate Total Beginning balance fixed maturities $ 706 $ 815 $ 5 $ 1,526 $ 701 $ 623 $ 6 $ 1,330 Total gains or (losses) (realized/unrealized) Included in earnings 3 (3) - - (12) (7) - (19) Included in other comprehensive income (loss) (1) - - (2) 6 4 - 10 Purchases, issuances and settlements 87 192 - 279 99 384 (1) 482 Transfers in/(out) of Level 3 and reclassification of securities in/(out) of investment categories - - - - - - - - Ending balance $ 794 $ 1,004 $ 5 $ 1,803 $ 794 $ 1,004 $ 5 $ 1,803 The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at the reporting date $ 1 $ (3) $ - $ (2) $ (16) $ (8) $ - $ (24) (Some amounts may not reconcile due to rounding.)

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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