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v3.25.1

Fair Value Measurements - Changes in balances of Level 3 financial assets carried at fair value (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | $ 1,096 | $ 1,230
Total realized/unrealized gains (losses) included in Net earnings (loss) | (8) | 18
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 6 | 0
Purchases and issuances | 40 | 92
Sales and settlements | (55) | (13)
Transfer into Level 3 | 4 | 0
Transfer out of Level 3 | (13) | (30)
Financial assets, Ending Balance | 1,070 | 1,297
Fixed maturities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 768 | 736
Total realized/unrealized gains (losses) included in Net earnings (loss) | (6) | (1)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 6 | 0
Purchases and issuances | 24 | 48
Sales and settlements | (41) | (11)
Transfer into Level 3 | 4 | 0
Transfer out of Level 3 | (7) | (30)
Financial assets, Ending Balance | 748 | 742
U.S. government agency |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 0 | 0
Total realized/unrealized gains (losses) included in Net earnings (loss) | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 0 | 0
State and municipal |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 1 | 2
Total realized/unrealized gains (losses) included in Net earnings (loss) | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 3 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 4 | 2
Residential MBS |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 1 | 2
Total realized/unrealized gains (losses) included in Net earnings (loss) | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 1 | 2
Commercial MBS |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 0 | 0
Total realized/unrealized gains (losses) included in Net earnings (loss) | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 0 | 0
Collateralized loan obligations |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 0 | 1
Total realized/unrealized gains (losses) included in Net earnings (loss) | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 0
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 0 | 1
Other asset-backed securities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 296 | 351
Total realized/unrealized gains (losses) included in Net earnings (loss) | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 2 | 0
Purchases and issuances | 10 | 15
Sales and settlements | (27) | (5)
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | (26)
Financial assets, Ending Balance | 281 | 335
Corporate and other |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 470 | 380
Total realized/unrealized gains (losses) included in Net earnings (loss) | (6) | (1)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 4 | 0
Purchases and issuances | 14 | 33
Sales and settlements | (14) | (6)
Transfer into Level 3 | 1 | 0
Transfer out of Level 3 | (7) | (4)
Financial assets, Ending Balance | 462 | 402
Trading fixed maturities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 26 |
Total realized/unrealized gains (losses) included in Net earnings (loss) | 1 |
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 |
Purchases and issuances | 0 |
Sales and settlements | (14) |
Transfer into Level 3 | 0 |
Transfer out of Level 3 | 0 |
Financial assets, Ending Balance | 13 |
Equity securities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 292 | 485
Total realized/unrealized gains (losses) included in Net earnings (loss) | (2) | 20
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 13 | 42
Sales and settlements | 0 | (2)
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | (6) | 0
Financial assets, Ending Balance | 297 | 545
Assets of MIE |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 10 | 9
Total realized/unrealized gains (losses) included in Net earnings (loss) | (1) | (1)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 3 | 2
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | $ 12 | $ 10

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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/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 102 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-102 Reference 4: 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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- Definition Amount of gain (loss) recognized in other comprehensive income (OCI) from asset measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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