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Segment Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The accounting policies of the segments are the same as those described in Note 2 – “Significant Accounting Policies and Pronouncements” in the Notes to Consolidated Financial Statements included in the Company’s 2023 Annual Report. The Company measures segment performance primarily based on profit or loss from operations before income taxes. There are no intersegment reinsurance transactions, and the Company does not have any material long-lived assets.
The Company allocates capital to its segments based on an internally developed economic capital model, the purpose of which is to measure the risk in the business and to provide a basis upon which capital is deployed. The economic capital model considers the unique and specific nature of the risks inherent in the Company’s businesses. As a result of the economic capital allocation process, a portion of investment income is credited to the segments based on the level of allocated capital. In addition, the segments are charged for excess capital utilized above the allocated economic capital basis. This charge is included in policy acquisition costs and other insurance expenses.
The Company has geographic-based and business-based operational segments. Geographic-based operations are further segmented into Traditional and Financial Solutions businesses. Information related to revenues, income (loss) before income taxes and total assets of the Company for each reportable segment are summarized below (dollars in millions):
 Three months ended March 31,
Revenues:20242023
U.S. and Latin America:
Traditional$1,914 $1,812 
Financial Solutions2,309 515 
Total4,223 2,327 
Canada:
Traditional386 359 
Financial Solutions27 27 
Total413 386 
Europe, Middle East and Africa:
Traditional525 460 
Financial Solutions211 169 
Total736 629 
Asia Pacific:
Traditional791 729 
Financial Solutions143 131 
Total934 860 
Corporate and Other31 49 
Total$6,337 $4,251 
 Three months ended March 31,
Income (loss) before income taxes:20242023
U.S. and Latin America:
Traditional$116 $121 
Financial Solutions17 114 
Total133 235 
Canada:
Traditional47 29 
Financial Solutions7 10 
Total54 39 
Europe, Middle East and Africa:
Traditional28 27 
Financial Solutions64 59 
Total92 86 
Asia Pacific:
Traditional109 79 
Financial Solutions13 (13)
Total122 66 
Corporate and Other(129)(75)
Total$272 $351 
Assets:March 31, 2024December 31, 2023
U.S. and Latin America:
Traditional$24,272 $24,320 
Financial Solutions29,571 28,385 
Total53,843 52,705 
Canada:
Traditional5,164 5,111 
Financial Solutions233 219 
Total5,397 5,330 
Europe, Middle East and Africa:
Traditional4,486 4,334 
Financial Solutions7,652 5,656 
Total12,138 9,990 
Asia Pacific:
Traditional9,886 9,925 
Financial Solutions19,986 14,680 
Total29,872 24,605 
Corporate and Other4,750 4,993 
Total$106,000 $97,623