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v3.20.4

Fair Value Measurements - Changes in balances of Level 3 financial assets carried at fair value (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | $ 2,290 | $ 3,841 | $ 3,521 | $ 2,290
Total realized/unrealized gains (losses) included in Net earnings |  | (42) | (10) | (21)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 69 | 75 | (39)
Purchases and issuances |  | 781 | 1,578 | 1,828
Sales and settlements |  | (606) | (565) | (482)
Transfer into Level 3 |  | 620 | 244 | 270
Transfer out of Level 3 |  | (957) | (1,002) | (325)
Financial assets, Ending Balance |  | 3,706 | 3,841 | 3,521
Fixed maturities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 2,102 | 3,387 | 3,164 | 2,102
Total realized/unrealized gains (losses) included in Net earnings |  | (23) | 0 | (22)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 69 | 75 | (39)
Purchases and issuances |  | 706 | 1,525 | 1,667
Sales and settlements |  | (587) | (563) | (476)
Transfer into Level 3 |  | 595 | 188 | 240
Transfer out of Level 3 |  | (931) | (1,002) | (308)
Financial assets, Ending Balance |  | 3,216 | 3,387 | 3,164
U.S. government agency |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 8 | 15 | 9 | 8
Total realized/unrealized gains (losses) included in Net earnings |  | 4 | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | (4) | 7 | 0
Purchases and issuances |  | 0 | 0 | 0
Sales and settlements |  | 0 | (1) | 0
Transfer into Level 3 |  | 0 | 0 | 1
Transfer out of Level 3 |  | 0 | 0 | 0
Financial assets, Ending Balance |  | 15 | 15 | 9
State and municipal |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 148 | 105 | 59 | 148
Total realized/unrealized gains (losses) included in Net earnings |  | 0 | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 5 | 5 | (2)
Purchases and issuances |  | 0 | 0 | 0
Sales and settlements |  | (5) | (3) | (3)
Transfer into Level 3 |  | 0 | 55 | 0
Transfer out of Level 3 |  | (2) | (11) | (84)
Financial assets, Ending Balance |  | 103 | 105 | 59
Residential MBS |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 122 | 173 | 197 | 122
Total realized/unrealized gains (losses) included in Net earnings |  | (7) | 6 | (9)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | (8) | (3) | (4)
Purchases and issuances |  | 0 | 0 | 0
Sales and settlements |  | (19) | (20) | (21)
Transfer into Level 3 |  | 58 | 48 | 130
Transfer out of Level 3 |  | (32) | (55) | (21)
Financial assets, Ending Balance |  | 165 | 173 | 197
Commercial MBS |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 36 | 35 | 56 | 36
Total realized/unrealized gains (losses) included in Net earnings |  | 0 | 2 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 1 | 0 | 0
Purchases and issuances |  | 0 | 0 | 20
Sales and settlements |  | (3) | (12) | 0
Transfer into Level 3 |  | 2 | 4 | 0
Transfer out of Level 3 |  | (22) | (15) | 0
Financial assets, Ending Balance |  | 13 | 35 | 56
Collateralized loan obligations |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 200 | 15 | 116 | 200
Total realized/unrealized gains (losses) included in Net earnings |  | (5) | (5) | (3)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 22 | 5 | (13)
Purchases and issuances |  | 0 | 0 | 35
Sales and settlements |  | 0 | 0 | (20)
Transfer into Level 3 |  | 187 | 28 | 3
Transfer out of Level 3 |  | (155) | (129) | (86)
Financial assets, Ending Balance |  | 64 | 15 | 116
Other asset-backed securities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 544 | 1,286 | 731 | 544
Total realized/unrealized gains (losses) included in Net earnings |  | (17) | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 20 | 6 | (2)
Purchases and issuances |  | 423 | 787 | 391
Sales and settlements |  | (375) | (192) | (228)
Transfer into Level 3 |  | 215 | 23 | 79
Transfer out of Level 3 |  | (179) | (69) | (53)
Financial assets, Ending Balance |  | 1,373 | 1,286 | 731
Corporate and other |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 1,044 | 1,758 | 1,996 | 1,044
Total realized/unrealized gains (losses) included in Net earnings |  | 2 | (3) | (10)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 33 | 55 | (18)
Purchases and issuances |  | 283 | 738 | 1,221
Sales and settlements |  | (185) | (335) | (204)
Transfer into Level 3 |  | 133 | 30 | 27
Transfer out of Level 3 |  | (541) | (723) | (64)
Financial assets, Ending Balance |  | 1,483 | 1,758 | 1,996
Equity securities |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | 165 | 437 | 336 | 165
Total realized/unrealized gains (losses) included in Net earnings |  | (13) | (5) | 9
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 0 | 0 | 0
Purchases and issuances |  | 73 | 52 | 155
Sales and settlements |  | (19) | (2) | (6)
Transfer into Level 3 | 29 | 17 | 56 | 30
Transfer out of Level 3 |  | (26) | 0 | (17)
Financial assets, Ending Balance |  | 469 | 437 | 336
Assets of MIE |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |
Financial assets, Beginning Balance | $ 23 | 17 | 21 | 23
Total realized/unrealized gains (losses) included in Net earnings |  | (6) | (5) | (8)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 0 | 0 | 0
Purchases and issuances |  | 2 | 1 | 6
Sales and settlements |  | 0 | 0 | 0
Transfer into Level 3 |  | 8 | 0 | 0
Transfer out of Level 3 |  | 0 | 0 | 0
Financial assets, Ending Balance |  | $ 21 | $ 17 | $ 21

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