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v3.20.2

Fair Value Measurements - Changes in balances of Level 3 financial assets carried at fair value (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | $ 3,513 | $ 3,685 | $ 3,841 | $ 3,521
Total realized/unrealized gains (losses) included in Net income | (2) | 4 | (45) | 8
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 72 | 25 | 24 | 64
Purchases and issuances | 263 | 265 | 465 | 773
Sales and settlements | (50) | (187) | (273) | (398)
Transfer into Level 3 | 156 | 41 | 351 | 57
Transfer out of Level 3 | (112) | (727) | (523) | (919)
Financial assets, Ending Balance | 3,840 | 3,106 | 3,840 | 3,106
Fixed maturities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 3,061 | 3,311 | 3,387 | 3,164
Total realized/unrealized gains (losses) included in Net income | 0 | 6 | (18) | 10
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 72 | 25 | 24 | 64
Purchases and issuances | 246 | 246 | 442 | 753
Sales and settlements | (50) | (186) | (273) | (397)
Transfer into Level 3 | 154 | 35 | 332 | 35
Transfer out of Level 3 | (112) | (727) | (523) | (919)
Financial assets, Ending Balance | 3,371 | 2,710 | 3,371 | 2,710
U.S. government agency |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 15 | 8 | 15 | 9
Total realized/unrealized gains (losses) included in Net income | 1 | 0 | 2 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (1) | 0 | (2) | 0
Purchases and issuances | 0 | 0 | 0 | 0
Sales and settlements | 0 | 0 | 0 | (1)
Transfer into Level 3 | 0 | 0 | 0 | 0
Transfer out of Level 3 | 0 | 0 | 0 | 0
Financial assets, Ending Balance | 15 | 8 | 15 | 8
State and municipal |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 105 | 63 | 105 | 59
Total realized/unrealized gains (losses) included in Net income | 0 | 0 | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 5 | 2 | 6 | 7
Purchases and issuances | 0 | 0 | 0 | 0
Sales and settlements | (1) | (1) | (2) | (2)
Transfer into Level 3 | 0 | 18 | 0 | 18
Transfer out of Level 3 | (2) | 0 | (2) | 0
Financial assets, Ending Balance | 107 | 82 | 107 | 82
Residential MBS |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 163 | 169 | 173 | 197
Total realized/unrealized gains (losses) included in Net income | 0 | 4 | 5 | 9
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 4 | 0 | (8) | (5)
Purchases and issuances | 0 | 0 | 0 | 0
Sales and settlements | (4) | (4) | (9) | (10)
Transfer into Level 3 | 0 | 2 | 2 | 2
Transfer out of Level 3 | (7) | (32) | (7) | (54)
Financial assets, Ending Balance | 156 | 139 | 156 | 139
Commercial MBS |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 32 | 55 | 35 | 56
Total realized/unrealized gains (losses) included in Net income | 1 | 2 | 1 | 2
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0 | 0 | 0
Purchases and issuances | 0 | 0 | 0 | 0
Sales and settlements | 0 | (2) | (3) | (3)
Transfer into Level 3 | 0 | 0 | 0 | 0
Transfer out of Level 3 | 0 | (5) | 0 | (5)
Financial assets, Ending Balance | 33 | 50 | 33 | 50
Collateralized loan obligations |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 168 | 37 | 15 | 116
Total realized/unrealized gains (losses) included in Net income | (3) | 0 | (10) | (3)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 13 | 0 | 15 | 6
Purchases and issuances | 0 | 0 | 0 | 0
Sales and settlements | 0 | 0 | 0 | 0
Transfer into Level 3 | 29 | 13 | 187 | 13
Transfer out of Level 3 | 0 | 0 | 0 | (82)
Financial assets, Ending Balance | 207 | 50 | 207 | 50
Other asset-backed securities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 1,030 | 633 | 1,286 | 731
Total realized/unrealized gains (losses) included in Net income | 0 | 0 | (14) | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 4 | 3 | (7) | 5
Purchases and issuances | 198 | 17 | 275 | 92
Sales and settlements | (25) | (18) | (203) | (132)
Transfer into Level 3 | 121 | 0 | 134 | 0
Transfer out of Level 3 | 0 | (268) | (143) | (329)
Financial assets, Ending Balance | 1,328 | 367 | 1,328 | 367
Corporate and other |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 1,548 | 2,346 | 1,758 | 1,996
Total realized/unrealized gains (losses) included in Net income | 1 | 0 | (2) | 2
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 47 | 20 | 20 | 51
Purchases and issuances | 48 | 229 | 167 | 661
Sales and settlements | (20) | (161) | (56) | (249)
Transfer into Level 3 | 4 | 2 | 9 | 2
Transfer out of Level 3 | (103) | (422) | (371) | (449)
Financial assets, Ending Balance | 1,525 | 2,014 | 1,525 | 2,014
Equity securities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 436 | 354 | 437 | 336
Total realized/unrealized gains (losses) included in Net income | (1) | (1) | (25) | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0 | 0 | 0
Purchases and issuances | 17 | 19 | 23 | 20
Sales and settlements | 0 | (1) | 0 | (1)
Transfer into Level 3 | 0 | 6 | 17 | 22
Transfer out of Level 3 | 0 | 0 | 0 | 0
Financial assets, Ending Balance | 452 | 377 | 452 | 377
Assets of MIE |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 16 | 20 | 17 | 21
Total realized/unrealized gains (losses) included in Net income | (1) | (1) | (2) | (2)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0 | 0 | 0
Purchases and issuances | 0 | 0 | 0 | 0
Sales and settlements | 0 | 0 | 0 | 0
Transfer into Level 3 | 2 | 0 | 2 | 0
Transfer out of Level 3 | 0 | 0 | 0 | 0
Financial assets, Ending Balance | $ 17 | $ 19 | $ 17 | $ 19

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