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Investments (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments [Abstract] |
Debt Securities, Available-for-sale | The following tables provide information relating to investments in fixed maturity securities by type as of December 31, 2023 and 2022 (dollars in millions):
December 31, 2023: |  | Amortized Cost |  | Allowance for Credit Losses |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |  | % of Total
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 42,014 |  |  | $ | 62 |  |  | $ | 554 |  |  | $ | 3,751 |  |  | $ | 38,755 |  |  | 64.1 | %
Canadian government |  | 3,477 |  |  | — |  |  | 473 |  |  | 33 |  |  | 3,917 |  |  | 6.5 |
Japanese government |  | 3,630 |  |  | — |  |  | 3 |  |  | 502 |  |  | 3,131 |  |  | 5.2 |
ABS |  | 4,661 |  |  | 12 |  |  | 19 |  |  | 239 |  |  | 4,429 |  |  | 7.3 |
CMBS |  | 1,969 |  |  | 1 |  |  | 7 |  |  | 202 |  |  | 1,773 |  |  | 2.9 |
RMBS |  | 1,173 |  |  | — |  |  | 8 |  |  | 102 |  |  | 1,079 |  |  | 1.8 |
U.S. government |  | 2,725 |  |  | — |  |  | 9 |  |  | 214 |  |  | 2,520 |  |  | 4.2 |
State and political subdivisions |  | 1,236 |  |  | — |  |  | 7 |  |  | 129 |  |  | 1,114 |  |  | 1.8 |
Other foreign government |  | 4,092 |  |  | — |  |  | 45 |  |  | 388 |  |  | 3,749 |  |  | 6.2 |
Total fixed maturity securities |  | $ | 64,977 |  |  | $ | 75 |  |  | $ | 1,125 |  |  | $ | 5,560 |  |  | $ | 60,467 |  |  | 100.0 | %
December 31, 2022: |  | Amortized Cost |  | Allowance for Credit Losses |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |  | % of Total |  |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 38,963 |  |  | $ | 27 |  |  | $ | 168 |  |  | $ | 5,135 |  |  | $ | 33,969 |  |  | 64.2 | % |  |
Canadian government |  | 3,311 |  |  | — |  |  | 381 |  |  | 66 |  |  | 3,626 |  |  | 6.9 |  |  |
Japanese government |  | 3,033 |  |  | — |  |  | 4 |  |  | 478 |  |  | 2,559 |  |  | 4.8 |  |  |
ABS |  | 4,324 |  |  | 10 |  |  | 4 |  |  | 440 |  |  | 3,878 |  |  | 7.3 |  |  |
CMBS |  | 1,835 |  |  | — |  |  | — |  |  | 212 |  |  | 1,623 |  |  | 3.1 |  |  |
RMBS |  | 1,054 |  |  | — |  |  | 1 |  |  | 114 |  |  | 941 |  |  | 1.8 |  |  |
U.S. government |  | 1,690 |  |  | — |  |  | 4 |  |  | 212 |  |  | 1,482 |  |  | 2.8 |  |  |
State and political subdivisions |  | 1,282 |  |  | — |  |  | 10 |  |  | 173 |  |  | 1,119 |  |  | 2.1 |  |  |
Other foreign government |  | 4,171 |  |  | — |  |  | 22 |  |  | 489 |  |  | 3,704 |  |  | 7.0 |  |  |
Total fixed maturity securities |  | $ | 59,663 |  |  | $ | 37 |  |  | $ | 594 |  |  | $ | 7,319 |  |  | $ | 52,901 |  |  | 100.0 | % |  |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | The following table includes fixed maturity securities pledged and received as collateral and assets in trust held to satisfy collateral requirements under derivative transactions and certain third-party reinsurance treaties as of December 31, 2023 and 2022 (dollars in millions):
| 2023 |  | 2022
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Fixed maturity securities pledged as collateral | $ | 572 |  |  | $ | 517 |  |  | $ | 355 |  |  | $ | 292 |
Fixed maturity securities received as collateral | n/a |  | 1,827 |  |  | n/a |  | 1,428 |
Assets in trust held to satisfy collateral requirements | 32,758 |  |  | 30,359 |  |  | 31,510 |  |  | 27,817 |
Concentration Risk Disclosure [Text Block] | The Company’s exposure to concentrations of credit risk from single issuers greater than 10% of the Company’s equity included securities of the U.S. government and its agencies and the Japanese government and its agencies, as well as the securities disclosed below, as of December 31, 2023 and 2022 (dollars in millions):
| 2023 |  | 2022
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Fixed maturity securities guaranteed or issued by: |  |  |  |  |  |  |
Canadian province of Quebec | $ | 1,467 |  |  | $ | 1,748 |  |  | $ | 1,436 |  |  | $ | 1,649 |
Canadian province of Ontario | 1,019 |  |  | 1,125 |  |  | 982 |  |  | 1,068 |
Investments Classified By Contractual Maturity Date [Table Text Block] | The amortized cost and estimated fair value of fixed maturity securities classified as available-for-sale as of December 31, 2023, are shown by contractual maturity in the table below (dollars in millions). Actual maturities can differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Structured securities are shown separately in the table below as they are not due at a single maturity date.
|  | Amortized Cost |  | Estimated Fair Value
Available-for-sale: |  |  |  |
Due in one year or less |  | $ | 1,587 |  |  | $ | 1,595 |
Due after one year through five years |  | 11,517 |  |  | 11,294 |
Due after five years through ten years |  | 11,224 |  |  | 10,637 |
Due after ten years |  | 32,846 |  |  | 29,660 |
Structured securities |  | 7,803 |  |  | 7,281 |
Total |  | $ | 64,977 |  |  | $ | 60,467 |
Fixed Maturity Holdings Industry Types [Table Text Block] | The tables below show the major sectors of the Company’s corporate fixed maturity holdings as of December 31, 2023 and 2022 (dollars in millions):
December 31, 2023: |  | Amortized Cost |  | Estimated Fair Value |  | % of Total
Finance |  | $ | 15,052 |  |  | $ | 13,789 |  |  | 35.6 | %
Industrial |  | 21,413 |  |  | 19,935 |  |  | 51.4 |
Utility |  | 5,549 |  |  | 5,031 |  |  | 13.0 |
Total |  | $ | 42,014 |  |  | $ | 38,755 |  |  | 100.0 | %
December 31, 2022: |  | Amortized Cost |  | Estimated Fair Value |  | % of Total
Finance |  | $ | 14,551 |  |  | $ | 12,680 |  |  | 37.3 | %
Industrial |  | 19,624 |  |  | 17,257 |  |  | 50.8 |
Utility |  | 4,788 |  |  | 4,032 |  |  | 11.9 |
Total |  | $ | 38,963 |  |  | $ | 33,969 |  |  | 100.0 | %
Roll Forward Of Cumulative Credit Loss Component Of Otti Income Loss [Table Text Block] | The following tables present the rollforward of the allowance for credit losses in fixed maturity securities by type for the years ended December 31, 2023 and 2022 (dollars in millions):
|  | Corporate |  | ABS |  | CMBS |  | Other Foreign Government |  | Total
Year ended December 31, 2023: |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 27 |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |  |  | $ | 37 |
Credit losses recognized on securities for which credit losses were not previously recorded |  | 51 |  |  | — |  |  | 1 |  |  | — |  |  | 52 |
Reductions for securities sold during the period |  | (10) |  |  | — |  |  | — |  |  | — |  |  | (10) |
Reductions for securities the Company intends to sell or more likely than not will be required to sell before recovery of its amortized cost |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Additional increases or decreases for credit losses on securities that had an allowance recorded in a previous period |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Write-offs charged against the allowance |  | (6) |  |  | — |  |  | — |  |  | — |  |  | (6) |
Balance, end of period |  | $ | 62 |  |  | $ | 12 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 75 |
|  | Corporate |  | ABS |  | CMBS |  | Other Foreign Government |  | Total
Year ended December 31, 2022: |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 26 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 31 |
Credit losses recognized on securities for which credit losses were not previously recorded |  | 31 |  |  | 10 |  |  | — |  |  | 1 |  |  | 42 |
Reductions for securities sold during the period |  | (32) |  |  | — |  |  | — |  |  | (7) |  |  | (39) |
Reductions for securities the Company intends to sell or more likely than not will be required to sell before recovery of its amortized cost |  | (4) |  |  | — |  |  | — |  |  | — |  |  | (4) |
Additional increases or decreases for credit losses on securities that had an allowance recorded in a previous period |  | 6 |  |  | — |  |  | (1) |  |  | 2 |  |  | 7 |
Write-offs charged against the allowance |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance, end of period |  | $ | 27 |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |  |  | $ | 37 |
Fair Value And Investments In Debt And Equity Securities Disclosures [Table Text Block] | The following tables present the estimated fair value and gross unrealized losses for the 5,788 and 6,441 fixed maturity securities for which an allowance for credit loss has not been recorded as of December 31, 2023 and December 31, 2022, and the estimated fair value had declined and remained below amortized cost (dollars in millions). These investments are presented by class and grade of security, as well as the length of time the related fair value has continuously remained below amortized cost.
|  | Less than 12 months |  | 12 months or greater |  | Total
December 31, 2023: |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
Investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 2,134 |  |  | $ | 70 |  |  | $ | 24,207 |  |  | $ | 3,524 |  |  | $ | 26,341 |  |  | $ | 3,594 |
Canadian government |  | — |  |  | — |  |  | 459 |  |  | 33 |  |  | 459 |  |  | 33 |
Japanese government |  | 876 |  |  | 50 |  |  | 2,193 |  |  | 452 |  |  | 3,069 |  |  | 502 |
ABS |  | 336 |  |  | 5 |  |  | 3,025 |  |  | 223 |  |  | 3,361 |  |  | 228 |
CMBS |  | 160 |  |  | 5 |  |  | 1,328 |  |  | 190 |  |  | 1,488 |  |  | 195 |
RMBS |  | 115 |  |  | 3 |  |  | 681 |  |  | 99 |  |  | 796 |  |  | 102 |
U.S. government |  | 614 |  |  | 10 |  |  | 717 |  |  | 204 |  |  | 1,331 |  |  | 214 |
State and political subdivisions |  | 73 |  |  | 1 |  |  | 864 |  |  | 128 |  |  | 937 |  |  | 129 |
Other foreign government |  | 254 |  |  | 3 |  |  | 2,290 |  |  | 333 |  |  | 2,544 |  |  | 336 |
Total investment grade securities |  | 4,562 |  |  | 147 |  |  | 35,764 |  |  | 5,186 |  |  | 40,326 |  |  | 5,333 |
Below investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | 295 |  |  | 36 |  |  | 649 |  |  | 121 |  |  | 944 |  |  | 157 |
ABS |  | — |  |  | — |  |  | 68 |  |  | 10 |  |  | 68 |  |  | 10 |
CMBS |  | — |  |  | — |  |  | 4 |  |  | 1 |  |  | 4 |  |  | 1 |
Other foreign government |  | — |  |  | — |  |  | 193 |  |  | 52 |  |  | 193 |  |  | 52 |
Total below investment grade securities |  | 295 |  |  | 36 |  |  | 914 |  |  | 184 |  |  | 1,209 |  |  | 220 |
Total fixed maturity securities |  | $ | 4,857 |  |  | $ | 183 |  |  | $ | 36,678 |  |  | $ | 5,370 |  |  | $ | 41,535 |  |  | $ | 5,553 |
|  | Less than 12 months |  | 12 months or greater |  | Total
December 31, 2022: |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
Investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 21,867 |  |  | $ | 2,756 |  |  | $ | 6,840 |  |  | $ | 2,225 |  |  | $ | 28,707 |  |  | $ | 4,981 |
Canadian government |  | 554 |  |  | 42 |  |  | 71 |  |  | 23 |  |  | 625 |  |  | 65 |
Japanese government |  | 815 |  |  | 86 |  |  | 1,694 |  |  | 392 |  |  | 2,509 |  |  | 478 |
ABS |  | 1,596 |  |  | 153 |  |  | 1,931 |  |  | 269 |  |  | 3,527 |  |  | 422 |
CMBS |  | 1,314 |  |  | 144 |  |  | 281 |  |  | 65 |  |  | 1,595 |  |  | 209 |
RMBS |  | 664 |  |  | 62 |  |  | 181 |  |  | 53 |  |  | 845 |  |  | 115 |
U.S. government |  | 1,202 |  |  | 64 |  |  | 253 |  |  | 148 |  |  | 1,455 |  |  | 212 |
State and political subdivisions |  | 819 |  |  | 124 |  |  | 131 |  |  | 50 |  |  | 950 |  |  | 174 |
Other foreign government |  | 1,942 |  |  | 167 |  |  | 1,026 |  |  | 260 |  |  | 2,968 |  |  | 427 |
Total investment grade securities |  | 30,773 |  |  | 3,598 |  |  | 12,408 |  |  | 3,485 |  |  | 43,181 |  |  | 7,083 |
Below investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | 767 |  |  | 87 |  |  | 305 |  |  | 61 |  |  | 1,072 |  |  | 148 |
ABS |  | 52 |  |  | 6 |  |  | 38 |  |  | 9 |  |  | 90 |  |  | 15 |
CMBS |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other foreign government |  | 39 |  |  | 2 |  |  | 164 |  |  | 60 |  |  | 203 |  |  | 62 |
Total below investment grade securities |  | 858 |  |  | 95 |  |  | 507 |  |  | 130 |  |  | 1,365 |  |  | 225 |
Total fixed maturity securities |  | $ | 31,631 |  |  | $ | 3,693 |  |  | $ | 12,915 |  |  | $ | 3,615 |  |  | $ | 44,546 |  |  | $ | 7,308 |
Investment Income [Table Text Block] | Major categories of net investment income consist of the following (dollars in millions):
|  | For the years ended December 31,
|  | 2023 |  | 2022 |  | 2021
Fixed maturity securities available-for-sale |  | $ | 2,753 |  |  | $ | 2,305 |  |  | $ | 2,059 |
Equity securities |  | 6 |  |  | 6 |  |  | 5 |
Mortgage loans |  | 324 |  |  | 298 |  |  | 293 |
Policy loans |  | 54 |  |  | 54 |  |  | 55 |
Funds withheld at interest |  | 317 |  |  | 253 |  |  | 351 |
Limited partnerships and real estate joint ventures |  | 181 |  |  | 331 |  |  | 419 |
Short-term investments and cash and cash equivalents |  | 99 |  |  | 29 |  |  | 3 |
Other invested assets |  | 21 |  |  | 12 |  |  | 61 |
Investment income |  | 3,755 |  |  | 3,288 |  |  | 3,246 |
Investment expense |  | (164) |  |  | (127) |  |  | (108) |
Net investment income |  | $ | 3,591 |  |  | $ | 3,161 |  |  | $ | 3,138 |
Gain (Loss) on Securities [Table Text Block] | Investment related gains (losses), net consist of the following (dollars in millions):
|  | For the years ended December 31,
|  | 2023 |  | 2022 |  | 2021
Fixed maturity securities available-for-sale: |  |  |  |  |  |
Change in allowance for credit losses |  | $ | (38) |  |  | $ | (6) |  |  | $ | (11) |
Impairments on fixed maturity securities |  | (3) |  |  | (17) |  |  | (1) |
Realized gains on investment activity |  | 72 |  |  | 192 |  |  | 299 |
Realized losses on investment activity |  | (275) |  |  | (396) |  |  | (65) |
Net gains (losses) on equity securities |  | (1) |  |  | (21) |  |  | 25 |
Change in mortgage loan allowance for credit losses |  | (16) |  |  | (16) |  |  | 29 |
Change in fair value of certain limited partnership investments |  | 48 |  |  | 38 |  |  | 169 |
Net losses on free-standing derivatives |  | (129) |  |  | (166) |  |  | (10) |
Net gains (losses) on embedded derivatives |  | (163) |  |  | (173) |  |  | 107 |
Other, net |  | 24 |  |  | 26 |  |  | 25 |
Total investment related gains (losses), net |  | $ | (481) |  |  | $ | (539) |  |  | $ | 567 |
Schedule of Repurchase Agreements [Table Text Block] | The following table provides information relating to securities lending and repurchase/reverse repurchase agreements as of December 31, 2023 and 2022 (dollars in millions):
| 2023 |  | 2022
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Securities borrowing transactions: |  |  |  |  |  |  |
Securities borrowed (1) | n/a |  | $ | 947 |  |  | n/a |  | $ | 852 |
Securities pledged as collateral (2) | $ | 845 |  |  | 676 |  |  | $ | 859 |  |  | 693 |
Securities lending transactions: |  |  |  |  |  |  |
Securities loaned (2) | 60 |  |  | 56 |  |  | 59 |  |  | 55 |
Securities received as collateral (3) | n/a |  | 66 |  |  | n/a |  | 66 |
Repurchase/reverse repurchase transactions: |  |  |  |  |  |  |
Securities sold (2) | 1,486 |  |  | 1,333 |  |  | 898 |  |  | 779 |
Securities purchased (3) | n/a |  | 517 |  |  | n/a |  | 619 |
Cash received (4) | 820 |  |  | 820 |  |  | 149 |  |  | 149 |
(1)Securities borrowed are not reflected on the consolidated balance sheets. Collateral associated with certain borrowed securities is not included within this table as the collateral pledged to the counterparty is the right to reinsurance treaty cash flows. (2)Securities loaned, pledged or sold to counterparties are included within fixed maturity securities. (3)Securities received as collateral or purchased from counterparties are not reflected on the consolidated financial statements. (4)A payable for the cash received by the Company is included within other liabilities.
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | The following tables present information on the remaining contractual maturity of the Company’s securities lending and repurchase agreements as of December 31, 2023 and 2022, respectively (dollars in millions):
| December 31, 2023
| Remaining Contractual Maturity of the Agreements
| Overnight and Continuous |  | Up to 30 Days |  | 30 – 90 Days |  | Greater than 90 Days |  | Total
Securities lending transactions: |  |  |  |  |  |  |  |  |
Corporate | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 40 |  |  | $ | 40 |
State and political subdivisions | — |  |  | — |  |  | — |  |  | 11 |  |  | 11 |
Other foreign government | — |  |  | — |  |  | — |  |  | 5 |  |  | 5 |
Total | — |  |  | — |  |  | — |  |  | 56 |  |  | 56 |
Repurchase/reverse repurchase transactions: |  |  |  |  |  |  |  |  |
Corporate | — |  |  | — |  |  | — |  |  | 553 |  |  | 553 |
Japanese government | — |  |  | — |  |  | — |  |  | 158 |  |  | 158 |
ABS | — |  |  | — |  |  | — |  |  | 229 |  |  | 229 |
CMBS | — |  |  | — |  |  | — |  |  | 221 |  |  | 221 |
RMBS | — |  |  | — |  |  | — |  |  | 52 |  |  | 52 |
U.S. government and agencies | — |  |  | — |  |  | — |  |  | 14 |  |  | 14 |
Other foreign government | — |  |  | — |  |  | — |  |  | 106 |  |  | 106 |
Total | — |  |  | — |  |  | — |  |  | 1,333 |  |  | 1,333 |
Total transactions | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,389 |  |  | $ | 1,389 |
| December 31, 2022
| Remaining Contractual Maturity of the Agreements
| Overnight and Continuous |  | Up to 30 Days |  | 30 – 90 Days |  | Greater than 90 Days |  | Total
Securities lending transactions: |  |  |  |  |  |  |  |  |
Corporate | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 42 |  |  | $ | 42 |
Canadian government | — |  |  | — |  |  | — |  |  | 5 |  |  | 5 |
State and political subdivisions | — |  |  | — |  |  | — |  |  | 3 |  |  | 3 |
Other foreign government | — |  |  | — |  |  | — |  |  | 5 |  |  | 5 |
Total | — |  |  | — |  |  | — |  |  | 55 |  |  | 55 |
Repurchase/reverse repurchase transactions: |  |  |  |  |  |  |  |  |
Corporate | — |  |  | — |  |  | — |  |  | 279 |  |  | 279 |
Japanese government | — |  |  | — |  |  | — |  |  | 278 |  |  | 278 |
ABS | — |  |  | — |  |  | — |  |  | 54 |  |  | 54 |
CMBS | — |  |  | — |  |  | — |  |  | 63 |  |  | 63 |
RMBS | — |  |  | — |  |  | — |  |  | 10 |  |  | 10 |
Other foreign government | — |  |  | — |  |  | — |  |  | 95 |  |  | 95 |
Total | — |  |  | — |  |  | — |  |  | 779 |  |  | 779 |
Total transactions | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 834 |  |  | $ | 834 |
Disclosure Of Real Estate Holdings By Property Type [Table Text Block] | The recorded investment in mortgage loans presented below is gross of unamortized deferred loan origination fees and expenses, and allowance for credit losses. The following table presents the distribution of the Company’s recorded investment in mortgage loans by property type as of December 31, 2023 and 2022 (dollars in millions):
|  | 2023 |  | 2022
|  | Carrying Value |  | % of Total |  | Carrying Value |  | % of Total
Property type: |  |  |  |  |  |  |  |
Office |  | $ | 1,700 |  |  | 22.8 | % |  | $ | 1,706 |  |  | 25.6 | %
Retail |  | 2,437 |  |  | 32.7 |  |  | 2,290 |  |  | 34.4 |
Industrial |  | 1,947 |  |  | 26.1 |  |  | 1,518 |  |  | 22.8 |
Apartment |  | 913 |  |  | 12.2 |  |  | 763 |  |  | 11.5 |
Hotel |  | 413 |  |  | 5.5 |  |  | 319 |  |  | 4.8 |
Other commercial |  | 49 |  |  | 0.7 |  |  | 57 |  |  | 0.9 |
Recorded investment |  | 7,459 |  |  | 100.0 | % |  | 6,653 |  |  | 100.0 | %
Unamortized balance of loan origination fees and expenses |  | (15) |  |  |  |  | (12) |  |  |
Allowance for credit losses |  | (67) |  |  |  |  | (51) |  |  |
Total mortgage loans |  | $ | 7,377 |  |  |  |  | $ | 6,590 |  |  |
Disclosure of Real Estate Holdings Classified By Contractual Maturity Date [Table Text Block] | The following table presents the maturities of the Company’s recorded investment in mortgage loans as of December 31, 2023 and 2022 (dollars in millions):
|  | 2023 |  | 2022
|  | Recorded Investment |  | % of Total |  | Recorded Investment |  | % of Total
Due within five years |  | $ | 3,228 |  |  | 43.3 | % |  | $ | 2,652 |  |  | 39.9 | %
Due after five years through ten years |  | 3,334 |  |  | 44.7 |  |  | 2,930 |  |  | 44.0 |
Due after ten years |  | 897 |  |  | 12.0 |  |  | 1,071 |  |  | 16.1 |
Total |  | $ | 7,459 |  |  | 100.0 | % |  | $ | 6,653 |  |  | 100.0 | %
Accounts Receivable, Noncurrent, Credit Quality Indicator | The following tables set forth certain key credit quality indicators of the Company’s recorded investment in mortgage loans as of December 31, 2023 and 2022 (dollars in millions):
| Recorded Investment
| Debt Service Ratios |  | Construction loans |  |  |  |
| >1.20x |  | 1.00x – 1.20x |  | <1.00x |  |  | Total |  | % of Total
December 31, 2023: |  |  |  |  |  |  |  |  |  |  |
Loan-to-Value Ratio |  |  |  |  |  |  |  |  |  |  |
0% – 59.99% | $ | 3,672 |  |  | $ | 272 |  |  | $ | 27 |  |  | $ | 46 |  |  | $ | 4,017 |  |  | 53.9 | %
60% – 69.99% | 1,947 |  |  | 154 |  |  | 44 |  |  | — |  |  | 2,145 |  |  | 28.8 |
70% – 79.99% | 843 |  |  | 52 |  |  | 34 |  |  | — |  |  | 929 |  |  | 12.4 |
80% or greater | 198 |  |  | 70 |  |  | 100 |  |  | — |  |  | 368 |  |  | 4.9 |
Total | $ | 6,660 |  |  | $ | 548 |  |  | $ | 205 |  |  | $ | 46 |  |  | $ | 7,459 |  |  | 100.0 | %
| Recorded Investment
| Debt Service Ratios |  | Construction loans |  |  |  |
| >1.20x |  | 1.00x – 1.20x |  | <1.00x |  |  | Total |  | % of Total
December 31, 2022: |  |  |  |  |  |  |  |  |  |  |
Loan-to-Value Ratio |  |  |  |  |  |  |  |  |  |  |
0% – 59.99% | $ | 3,466 |  |  | $ | 215 |  |  | $ | 56 |  |  | $ | 18 |  |  | $ | 3,755 |  |  | 56.4 | %
60% – 69.99% | 1,894 |  |  | 119 |  |  | 71 |  |  | — |  |  | 2,084 |  |  | 31.3 |
70% – 79.99% | 475 |  |  | 49 |  |  | 91 |  |  | — |  |  | 615 |  |  | 9.3 |
80% or greater | 81 |  |  | — |  |  | 118 |  |  | — |  |  | 199 |  |  | 3.0 |
Total | $ | 5,916 |  |  | $ | 383 |  |  | $ | 336 |  |  | $ | 18 |  |  | $ | 6,653 |  |  | 100.0 | %
Financing Receivable Credit Quality Indicators [Table Text Block] | The following table sets forth credit quality grades by year of origination of the Company’s recorded investment in mortgage loans as of December 31, 2023 and 2022 (dollars in millions):
| Recorded Investment
| Year of Origination |  |
December 31, 2023: | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Total
Internal credit quality grade: |  |  |  |  |  |  |  |  |  |  |  |  |
High investment grade | $ | 475 |  |  | $ | 635 |  |  | $ | 573 |  |  | $ | 304 |  |  | $ | 491 |  |  | $ | 1,734 |  |  | $ | 4,212 |
Investment grade | 754 |  |  | 668 |  |  | 384 |  |  | 245 |  |  | 313 |  |  | 564 |  |  | 2,928 |
Average | 12 |  |  | — |  |  | — |  |  | 18 |  |  | 63 |  |  | 203 |  |  | 296 |
Watch list | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16 |  |  | 16 |
In or near default | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | 7 |
Total | $ | 1,241 |  |  | $ | 1,303 |  |  | $ | 957 |  |  | $ | 567 |  |  | $ | 867 |  |  | $ | 2,524 |  |  | $ | 7,459 |
| Recorded Investment
| Year of Origination |  |
December 31, 2022: | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Total
Internal credit quality grade: |  |  |  |  |  |  |  |  |  |  |  |  |
High investment grade | $ | 698 |  |  | $ | 684 |  |  | $ | 327 |  |  | $ | 561 |  |  | $ | 422 |  |  | $ | 1,565 |  |  | $ | 4,257 |
Investment grade | 586 |  |  | 284 |  |  | 248 |  |  | 279 |  |  | 252 |  |  | 531 |  |  | 2,180 |
Average | — |  |  | 6 |  |  | — |  |  | 39 |  |  | 52 |  |  | 83 |  |  | 180 |
Watch list | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
In or near default | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36 |  |  | 36 |
Total | $ | 1,284 |  |  | $ | 974 |  |  | $ | 575 |  |  | $ | 879 |  |  | $ | 726 |  |  | $ | 2,215 |  |  | $ | 6,653 |
Financing Receivable, Past Due | The following table presents the current and past due composition of the Company’s recorded investment in mortgage loans as of December 31, 2023 and 2022 (dollars in millions):
|  | 2023 |  | 2022
Current |  | $ | 7,431 |  |  | $ | 6,617 |
31 – 60 days past due |  | 28 |  |  | — |
Greater than 90 days |  | — |  |  | 36 |
Total |  | $ | 7,459 |  |  | $ | 6,653 |
Allowance For Loan And Lease Losses Provision For Loss Net [Table Text Block] | The following table presents information regarding the Company’s allowance for credit losses for mortgage loans as of December 31, 2023, 2022 and 2021 (dollars in millions):
|  | 2023 |  | 2022 |  | 2021
Balance, beginning of period |  | $ | 51 |  |  | $ | 35 |  |  | $ | 64 |
Change in allowance for credit losses |  | 16 |  |  | 16 |  |  | (29) |
Balance, end of period |  | $ | 67 |  |  | $ | 51 |  |  | $ | 35 |
Real Estate Investment Financial Statements, Disclosure | Limited Partnerships and Real Estate Joint Ventures The carrying values of limited partnerships and real estate joint ventures as of December 31, 2023 and 2022 are as follows (dollars in millions):
|  | 2023 |  | 2022
Limited partnerships – equity method |  | $ | 925 |  |  | $ | 934 |
Limited partnerships – fair value |  | 856 |  |  | 683 |
Limited partnerships – cost method |  | 71 |  |  | 49 |
Real estate joint ventures |  | 783 |  |  | 661 |
Total limited partnerships and real estate joint ventures |  | $ | 2,635 |  |  | $ | 2,327 |
Schedule of Other Assets [Table Text Block] | The carrying values of other invested assets as of December 31, 2023 and 2022 are as follows (dollars in millions):
|  | 2023 |  | 2022
Lifetime mortgages |  | $ | 944 |  |  | $ | 868 |
Derivatives |  | 97 |  |  | 170 |
Other |  | 130 |  |  | 102 |
Total other invested assets |  | $ | 1,171 |  |  | $ | 1,140 |

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