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v3.26.1

Fair Value Measurements - Changes in balances of Level 3 financial assets carried at fair value (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2026 | Mar. 31, 2025
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | $ 1,008 | $ 1,096
Total realized/unrealized gains (losses) included in net earnings (loss) | (18) | (8)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 6
Purchases and issuances | 48 | 40
Sales and settlements | (60) | (55)
Transfer into Level 3 | 37 | 4
Transfer out of Level 3 | 0 | (13)
Financial assets, Ending Balance | 1,015 | 1,070
Fixed maturities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 712 | 768
Total realized/unrealized gains (losses) included in net earnings (loss) | (4) | (6)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 6
Purchases and issuances | 47 | 24
Sales and settlements | (47) | (41)
Transfer into Level 3 | 37 | 4
Transfer out of Level 3 | 0 | (7)
Financial assets, Ending Balance | 745 | 748
State and municipal |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 4 | 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 | 2 | 3
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 6 | 4
Residential MBS |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 3 | 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 | 3 | 1
Collateralized loan obligations |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance |  | 0
Total realized/unrealized gains (losses) included in net earnings (loss) |  | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) |  | 0
Purchases and issuances |  | 0
Sales and settlements |  | 0
Transfer into Level 3 |  | 0
Transfer out of Level 3 |  | 0
Financial assets, Ending Balance |  | 0
Other asset-backed securities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 310 | 296
Total realized/unrealized gains (losses) included in net earnings (loss) | 0 | 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 2
Purchases and issuances | 29 | 10
Sales and settlements | (10) | (27)
Transfer into Level 3 | 27 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 356 | 281
Corporate and other |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 395 | 470
Total realized/unrealized gains (losses) included in net earnings (loss) | (4) | (6)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 4
Purchases and issuances | 18 | 14
Sales and settlements | (37) | (14)
Transfer into Level 3 | 8 | 1
Transfer out of Level 3 | 0 | (7)
Financial assets, Ending Balance | 380 | 462
Trading fixed maturities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 25 | 26
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 | 0 | 0
Sales and settlements | (13) | (14)
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | 13 | 13
Equity securities |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 256 | 292
Total realized/unrealized gains (losses) included in net earnings (loss) | (14) | (2)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) | 0 | 0
Purchases and issuances | 0 | 13
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | (6)
Financial assets, Ending Balance | 242 | 297
Assets of MIE |  |
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |  |
Financial assets, Beginning Balance | 15 | 10
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 | 1 | 3
Sales and settlements | 0 | 0
Transfer into Level 3 | 0 | 0
Transfer out of Level 3 | 0 | 0
Financial assets, Ending Balance | $ 15 | $ 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/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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