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v3.23.3

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, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | $ 1,160 | $ 983 | $ 1,102 | $ 926 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | (12) | (4) | (8) | 18 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (3) | (20) | 11 | (53) |  |  |  |
Purchases and issuances | 62 | 74 | 191 | 243 |  |  |  |
Sales and settlements | (20) | (29) | (92) | (88) |  |  |  |
Transfer into Level 3 | 5 | 4 | 42 | 43 |  |  |  |
Transfer out of Level 3 | (38) | (6) | (92) | (87) |  |  |  |
Financial assets, Ending Balance | 1,154 | 1,002 | 1,154 | 1,002 |  |  |  |
Contingent consideration - acquisitions, Total Level 3 liabilities | (2) | (25) | (2) | (25) | $ (25) | $ (25) | $ (23) | $ (23)
Contingent consideration — acquisitions |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Contingent consideration - acquisitions, Total Level 3 liabilities | (2) | (25) | (2) | (25) | $ (25) | $ (25) | $ (23) | $ (23)
Fixed maturities: |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 701 | 593 | 664 | 600 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | (15) | (1) | (16) | 1 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (3) | (20) | 11 | (53) |  |  |  |
Purchases and issuances | 39 | 50 | 105 | 167 |  |  |  |
Sales and settlements | (16) | (14) | (63) | (68) |  |  |  |
Transfer into Level 3 | 5 | 4 | 42 | 40 |  |  |  |
Transfer out of Level 3 | (21) | (5) | (53) | (80) |  |  |  |
Financial assets, Ending Balance | 690 | 607 | 690 | 607 |  |  |  |
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 | 1 | 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 | 0 | 0 | (3) |  |  |  |
Purchases and issuances | 0 | 0 | 0 | 0 |  |  |  |
Sales and settlements | (1) | 0 | (1) | (1) |  |  |  |
Transfer into Level 3 | 0 | 0 | 0 | 0 |  |  |  |
Transfer out of Level 3 | (2) | 0 | (2) | (36) |  |  |  |
Financial assets, Ending Balance | 2 | 1 | 2 | 1 |  |  |  |
Residential MBS |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 5 | 8 | 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 | 4 | 4 | 4 |  |  |  |
Transfer out of Level 3 | 0 | (4) | (5) | (9) |  |  |  |
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 | 2 | 2 | 0 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | (1) | 0 | (1) | 0 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 1 | 0 | 1 | 0 |  |  |  |
Purchases and issuances | 0 | 0 | 0 | 0 |  |  |  |
Sales and settlements | 0 | 0 | 0 | 0 |  |  |  |
Transfer into Level 3 | 0 | 0 | 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 | 321 | 313 | 329 | 278 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | 0 | 0 | (2) | 2 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | (4) | (8) | 0 | (24) |  |  |  |
Purchases and issuances | 28 | 5 | 38 | 62 |  |  |  |
Sales and settlements | (3) | (9) | (34) | (51) |  |  |  |
Transfer into Level 3 | 0 | 0 | 31 | 34 |  |  |  |
Transfer out of Level 3 | (12) | 0 | (32) | 0 |  |  |  |
Financial assets, Ending Balance | 330 | 301 | 330 | 301 |  |  |  |
Corporate and other |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 369 | 269 | 319 | 267 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | (14) | (1) | (13) | (1) |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | (12) | 10 | (26) |  |  |  |
Purchases and issuances | 11 | 45 | 67 | 105 |  |  |  |
Sales and settlements | (12) | (5) | (25) | (15) |  |  |  |
Transfer into Level 3 | 5 | 0 | 7 | 0 |  |  |  |
Transfer out of Level 3 | (7) | (1) | (13) | (35) |  |  |  |
Financial assets, Ending Balance | 352 | 295 | 352 | 295 |  |  |  |
Equity securities |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 448 | 378 | 427 | 313 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | 4 | (2) | 11 | 20 |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0 | 0 | 0 |  |  |  |
Purchases and issuances | 23 | 24 | 84 | 75 |  |  |  |
Sales and settlements | (4) | (15) | (29) | (20) |  |  |  |
Transfer into Level 3 | 0 | 0 | 0 | 3 |  |  |  |
Transfer out of Level 3 | (17) | (1) | (39) | (7) |  |  |  |
Financial assets, Ending Balance | 454 | 384 | 454 | 384 |  |  |  |
Assets of MIE |  |  |  |  |  |  |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |  |  |  |  |  |  |
Financial assets, Beginning Balance | 11 | 12 | 11 | 13 |  |  |  |
Total realized/unrealized gains (losses) included in Net income | (1) | (1) | (3) | (3) |  |  |  |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0 | 0 | 0 |  |  |  |
Purchases and issuances | 0 | 0 | 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 | $ 10 | $ 11 | $ 10 | $ 11 |  |  |  |

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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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