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FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurement Levels for all Assets and Liabilities

The following tables present the fair value measurement levels for all assets and liabilities, which the Company has recorded at fair value as of the periods indicated:

									Fair Value Measurement Using:
(Dollars in millions)			December 31, 2024						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Fixed maturities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations			$	669					$	—					$	669					$	—
Obligations of U.S. States and political subdivisions			70						—						70						—
Corporate securities			7,010						—						6,492						518
Asset-backed securities			5,982						—						4,325						1,657
Mortgage-backed securities
Commercial			900						—						900						—
Agency residential			4,931						—						4,931						—
Non-agency residential			1,289						—						1,289						—
Foreign government securities			2,196						—						2,196						—
Foreign corporate securities			5,861						—						5,847						14
Total fixed maturities - available for sale			28,908						—						26,719						2,189
Equity securities, fair value			217						79						133						5

(Some amounts may not reconcile due to rounding.)

									Fair Value Measurement Using:
(Dollars in millions)			December 31, 2023						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Fixed maturities - available for sale
U.S. Treasury securities and obligations of
U.S. government agencies and corporations			$	996					$	—					$	996					$	—
Obligations of U.S. States and political subdivisions			128						—						128						—
Corporate securities			7,353						—						6,681						672
Asset-backed securities			5,618						—						4,313						1,305
Mortgage-backed securities
Commercial			1,000						—						1,000						—
Agency residential			4,695						—						4,695						—
Non-agency residential			443						—						443						—
Foreign government securities			1,967						—						1,967						—
Foreign corporate securities			5,540						—						5,524						16
Total fixed maturities - available for sale			27,740						—						25,747						1,993
Equity securities, fair value			188						70						118						—

(Some amounts may not reconcile due to rounding.)

Schedule of Activity under Level 3, Fair Value Measurements using Significant Unobservable Inputs by Asset Type

The following table presents the activity under Level 3, fair value measurements using significant unobservable inputs for fixed maturities - available for sale, for the periods indicated:

			Total Fixed Maturities - Available for Sale
			December 31, 2024																								December 31, 2023
(Dollars in millions)			Corporate Securities						Asset-Backed Securities												Foreign Corporate						Total						Corporate Securities						Asset-Backed Securities												Foreign Corporate						Total
Beginning balance fixed maturities			$	672					$	1,305											$	16					$	1,993					$	715					$	994											$	16					$	1,725
Total gains or (losses) (realized/unrealized)
Included in earnings (or changes in net assets)			(1)						—												1						—						4						—												—						4
Included in other comprehensive income (loss)			1						12												—						13						(2)						6												—						4
Purchases, issuances and settlements			(154)						339												(2)						183						(45)						305												—						260
Transfers in and/or (out) of Level 3 and reclassification
of securities in/(out) of investment categories			—						—												—						—						—						—												—						—
Ending balance			$	518					$	1,657											$	14					$	2,189					$	672					$	1,305											$	16					$	1,993
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)					$	9					$	—											$	—					$	9

(Some amounts may not reconcile due to rounding.)

X

- 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://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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

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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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