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v3.23.2

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, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | $ 1,128 | $ 998 | $ 1,102 | $ 926 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | 3 | (1) | 4 | 22 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 8 | (12) | 14 | (33) |  |  |  |
Purchases and issuances | 45 | 64 | 129 | 169 |  |  |  |
Sales and settlements | (31) | (32) | (72) | (59) |  |  |  |
Transfer into Level 3 | 33 | 2 | 37 | 39 |  |  |  |
Transfer out of Level 3 | (26) | (36) | (54) | (81) |  |  |  |
Financial assets, Ending Balance | 1,160 | 983 | 1,160 | 983 |  |  |  |
Contingent consideration - acquisitions, Total Level 3 liabilities | (25) | (23) | (25) | (23) | $ (25) | $ (25) | $ (23) | $ (23)
Contingent consideration — acquisitions |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Contingent consideration - acquisitions, Total Level 3 liabilities | (25) | (23) | (25) | (23) | $ (25) | $ (25) | $ (23) | $ (23)
Fixed maturities: |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 705 | 625 | 664 | 600 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | (6) | 0 | (1) | 2 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 8 | (12) | 14 | (33) |  |  |  |
Purchases and issuances | 15 | 42 | 66 | 117 |  |  |  |
Sales and settlements | (28) | (30) | (47) | (54) |  |  |  |
Transfer into Level 3 | 33 | 2 | 37 | 36 |  |  |  |
Transfer out of Level 3 | (26) | (34) | (32) | (75) |  |  |  |
Financial assets, Ending Balance | 701 | 593 | 701 | 593 |  |  |  |
U.S. government agency |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 0 | 0 | 0 | 0 |  |  |  |
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 | 0 | 0 | 0 |  |  |  |
Purchases and issuances | 0 | 0 | 0 | 0 |  |  |  |
Sales and settlements | 0 | 0 | 0 | 0 |  |  |  |
Transfer into Level 3 | 0 | 0 | 0 | 0 |  |  |  |
Transfer out of Level 3 | 0 | 0 | 0 | 0 |  |  |  |
Financial assets, Ending Balance | 0 | 0 | 0 | 0 |  |  |  |
State and municipal |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 5 | 33 | 5 | 41 |  |  |  |
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 | (1) | 0 | (3) |  |  |  |
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 | (31) | 0 | (36) |  |  |  |
Financial assets, Ending Balance | 5 | 1 | 5 | 1 |  |  |  |
Residential MBS |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 5 | 11 | 9 | 14 |  |  |  |
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 | 0 | 0 | 0 |  |  |  |
Purchases and issuances | 0 | 0 | 0 | 0 |  |  |  |
Sales and settlements | 0 | 0 | (3) | (1) |  |  |  |
Transfer into Level 3 | 0 | 0 | 4 | 0 |  |  |  |
Transfer out of Level 3 | 0 | (3) | (5) | (5) |  |  |  |
Financial assets, Ending Balance | 5 | 8 | 5 | 8 |  |  |  |
Commercial MBS |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 0 | 0 | 0 | 0 |  |  |  |
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 | 0 | 0 | 0 |  |  |  |
Purchases and issuances | 0 | 0 | 0 | 0 |  |  |  |
Sales and settlements | 0 | 0 | 0 | 0 |  |  |  |
Transfer into Level 3 | 0 | 0 | 0 | 0 |  |  |  |
Transfer out of Level 3 | 0 | 0 | 0 | 0 |  |  |  |
Financial assets, Ending Balance | 0 | 0 | 0 | 0 |  |  |  |
Collateralized loan obligations |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 1 | 0 | 2 | 0 |  |  |  |
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 | 0 | 0 | 0 |  |  |  |
Purchases and issuances | 0 | 0 | 0 | 0 |  |  |  |
Sales and settlements | 0 | 0 | 0 | 0 |  |  |  |
Transfer into Level 3 | 0 | 2 | 0 | 2 |  |  |  |
Transfer out of Level 3 | 0 | 0 | (1) | 0 |  |  |  |
Financial assets, Ending Balance | 1 | 2 | 1 | 2 |  |  |  |
Other asset-backed securities |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 335 | 337 | 329 | 278 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | (2) | 0 | (2) | 2 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | (7) | 4 | (16) |  |  |  |
Purchases and issuances | 3 | 10 | 10 | 57 |  |  |  |
Sales and settlements | (26) | (27) | (31) | (42) |  |  |  |
Transfer into Level 3 | 31 | 0 | 31 | 34 |  |  |  |
Transfer out of Level 3 | (20) | 0 | (20) | 0 |  |  |  |
Financial assets, Ending Balance | 321 | 313 | 321 | 313 |  |  |  |
Corporate and other |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 359 | 244 | 319 | 267 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | (4) | 0 | 1 | 0 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 8 | (4) | 10 | (14) |  |  |  |
Purchases and issuances | 12 | 32 | 56 | 60 |  |  |  |
Sales and settlements | (2) | (3) | (13) | (10) |  |  |  |
Transfer into Level 3 | 2 | 0 | 2 | 0 |  |  |  |
Transfer out of Level 3 | (6) | 0 | (6) | (34) |  |  |  |
Financial assets, Ending Balance | 369 | 269 | 369 | 269 |  |  |  |
Equity securities |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 411 | 361 | 427 | 313 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | 10 | 0 | 7 | 22 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0 | 0 | 0 |  |  |  |
Purchases and issuances | 30 | 21 | 61 | 51 |  |  |  |
Sales and settlements | (3) | (2) | (25) | (5) |  |  |  |
Transfer into Level 3 | 0 | 0 | 0 | 3 |  |  |  |
Transfer out of Level 3 | 0 | (2) | (22) | (6) |  |  |  |
Financial assets, Ending Balance | 448 | 378 | 448 | 378 |  |  |  |
Contingent consideration - acquisitions, Total Level 3 liabilities |  | 378 |  | 378 |  |  |  |
Assets of MIE |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 12 | 12 | 11 | 13 |  |  |  |
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 | 1 | 2 | 1 |  |  |  |
Sales and settlements | 0 | 0 | 0 | 0 |  |  |  |
Transfer into Level 3 | 0 | 0 | 0 | 0 |  |  |  |
Transfer out of Level 3 | 0 | 0 | 0 | 0 |  |  |  |
Financial assets, Ending Balance | $ 11 | $ 12 | $ 11 | $ 12 |  |  |  |

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- Definition Amount of gain (loss) recognized in income from asset measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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