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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 | 9 Months Ended
--- | --- | ---
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | $ 3,840 | $ 3,106 | $ 3,841 | $ 3,521
Total realized/unrealized gains (losses) included in Net income | (13) | (8) | (58) | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 23 | 23 | 47 | 87
Purchases and issuances | 104 | 399 | 569 | 1,172
Sales and settlements | (159) | (90) | (432) | (488)
Transfer into Level 3 | 247 | 88 | 598 | 145
Transfer out of Level 3 | (237) | (2) | (760) | (921)
Financial assets, Ending Balance | 3,805 | 3,516 | 3,805 | 3,516
Fixed maturities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 3,371 | 2,710 | 3,387 | 3,164
Total realized/unrealized gains (losses) included in Net income | (1) | 0 | (19) | 10
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 23 | 23 | 47 | 87
Purchases and issuances | 92 | 381 | 534 | 1,134
Sales and settlements | (159) | (88) | (432) | (485)
Transfer into Level 3 | 247 | 54 | 579 | 89
Transfer out of Level 3 | (227) | (2) | (750) | (921)
Financial assets, Ending Balance | 3,346 | 3,078 | 3,346 | 3,078
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 | 3 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (1) | 0 | (3) | 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 | 107 | 82 | 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) | 0 | 2 | 6 | 9
Purchases and issuances | 0 | 0 | 0 | 0
Sales and settlements | (1) | 0 | (3) | (2)
Transfer into Level 3 | 0 | 18 | 0 | 36
Transfer out of Level 3 | 0 | 0 | (2) | 0
Financial assets, Ending Balance | 106 | 102 | 106 | 102
Residential MBS |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 156 | 139 | 173 | 197
Total realized/unrealized gains (losses) included in Net income | (4) | 1 | 1 | 10
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 1 | (1) | (7) | (6)
Purchases and issuances | 0 | 0 | 0 | 0
Sales and settlements | (6) | (4) | (15) | (14)
Transfer into Level 3 | 49 | 22 | 51 | 24
Transfer out of Level 3 | (18) | (1) | (25) | (55)
Financial assets, Ending Balance | 178 | 156 | 178 | 156
Commercial MBS |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 33 | 50 | 35 | 56
Total realized/unrealized gains (losses) included in Net income | (1) | 1 | 0 | 3
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 | (3) | (3)
Transfer into Level 3 | 0 | 4 | 0 | 4
Transfer out of Level 3 | (22) | 0 | (22) | (5)
Financial assets, Ending Balance | 10 | 55 | 10 | 55
Collateralized loan obligations |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 207 | 50 | 15 | 116
Total realized/unrealized gains (losses) included in Net income | (1) | (2) | (11) | (5)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 6 | 1 | 21 | 7
Purchases and issuances | 0 | 8 | 0 | 8
Sales and settlements | 0 | 0 | 0 | 0
Transfer into Level 3 | 0 | 0 | 187 | 13
Transfer out of Level 3 | 0 | 0 | 0 | (82)
Financial assets, Ending Balance | 212 | 57 | 212 | 57
Other asset-backed securities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 1,328 | 367 | 1,286 | 731
Total realized/unrealized gains (losses) included in Net income | (2) | 0 | (16) | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 13 | 1 | 6 | 6
Purchases and issuances | 39 | 49 | 314 | 141
Sales and settlements | (75) | (3) | (278) | (135)
Transfer into Level 3 | 77 | 0 | 211 | 0
Transfer out of Level 3 | (36) | 0 | (179) | (329)
Financial assets, Ending Balance | 1,344 | 414 | 1,344 | 414
Corporate and other |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 1,525 | 2,014 | 1,758 | 1,996
Total realized/unrealized gains (losses) included in Net income | 6 | 0 | 4 | 2
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 4 | 20 | 24 | 71
Purchases and issuances | 53 | 324 | 220 | 985
Sales and settlements | (77) | (81) | (133) | (330)
Transfer into Level 3 | 121 | 10 | 130 | 12
Transfer out of Level 3 | (151) | (1) | (522) | (450)
Financial assets, Ending Balance | 1,481 | 2,286 | 1,481 | 2,286
Equity securities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 452 | 377 | 437 | 336
Total realized/unrealized gains (losses) included in Net income | (10) | (7) | (35) | (7)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0 | 0 | 0
Purchases and issuances | 12 | 18 | 35 | 38
Sales and settlements | 0 | (2) | 0 | (3)
Transfer into Level 3 | 0 | 34 | 17 | 56
Transfer out of Level 3 | (10) | 0 | (10) | 0
Financial assets, Ending Balance | 444 | 420 | 444 | 420
Assets of MIE |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 17 | 19 | 17 | 21
Total realized/unrealized gains (losses) included in Net income | (2) | (1) | (4) | (3)
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 | 0 | 0 | 2 | 0
Transfer out of Level 3 | 0 | 0 | 0 | 0
Financial assets, Ending Balance | $ 15 | $ 18 | $ 15 | $ 18

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