XML 83 R69.htm IDEA: XBRL DOCUMENT v3.25.1
Fair Value Measurements (excluding Consolidated Investment Entities) - Level 3 Financial Instruments (Details) - Measured at fair value on a recurring basis - Level 3 - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Managed custody guarantees    
Derivatives Rollforward:    
Fair Value, Derivatives, beginning balance $ (19) $ (9)
Gains (losses) from standalone derivatives recognized in Net gains (losses) 3 2
Total Realized/Unrealized Gains (Losses) Included in OCI 0 0
Purchases 0 0
Issuances 0 (1)
Sales 0 0
Settlements 0 0
Transfers in to Level 3 0 0
Transfers out of Level 3 0 0
Fair Value, Derivatives, ending balance (16) (8)
Change In Unrealized Gains (Losses) Included in Earnings 0 0
Change In Unrealized Gains (Losses) Included in OCI 0 0
Embedded derivatives within reinsurance    
Derivatives Rollforward:    
Fair Value, Derivatives, beginning balance (53) (58)
Gains (losses) from standalone derivatives recognized in Net gains (losses) 1 1
Total Realized/Unrealized Gains (Losses) Included in OCI 0 0
Purchases 0 0
Issuances 0 0
Sales 0 0
Settlements 0 0
Transfers in to Level 3 0 0
Transfers out of Level 3 0 0
Fair Value, Derivatives, ending balance (52) (57)
Change In Unrealized Gains (Losses) Included in Earnings 0 0
Change In Unrealized Gains (Losses) Included in OCI 0 0
Short-term investments and cash equivalents    
Derivatives Rollforward:    
Fair Value, Derivatives, beginning balance 23  
Gains (losses) from standalone derivatives recognized in Net gains (losses) 0  
Total Realized/Unrealized Gains (Losses) Included in OCI 1  
Purchases 0  
Issuances 0  
Sales 0  
Settlements 0  
Transfers in to Level 3 0  
Transfers out of Level 3 0  
Fair Value, Derivatives, ending balance 24  
Change In Unrealized Gains (Losses) Included in Earnings 0  
Change In Unrealized Gains (Losses) Included in OCI 1  
Fixed maturities    
Assets Rollforward:    
Fair Value, Assets, beginning balance 2,127 2,090
Total Realized/Unrealized Gains (Losses) Included in Net income (24) (1)
Total Realized/Unrealized Gains (Losses) Included in OCI 49 (19)
Purchases 375 72
Issuances 0 0
Sales (18) (9)
Settlements (30) (116)
Transfers in to Level 3 0 51
Transfers out of Level 3 (16) (39)
Fair Value, Assets, ending balance 2,463 2,029
Change In Unrealized Gains (Losses) Included in Earnings (22) (1)
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI 47 (23)
US Government Agencies Debt Securities    
Assets Rollforward:    
Fair Value, Assets, beginning balance   1
Total Realized/Unrealized Gains (Losses) Included in Net income   0
Total Realized/Unrealized Gains (Losses) Included in OCI   0
Purchases   0
Issuances   0
Sales   0
Settlements   0
Transfers in to Level 3   0
Transfers out of Level 3   0
Fair Value, Assets, ending balance   1
Change In Unrealized Gains (Losses) Included in Earnings   0
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI   0
U.S. corporate public securities    
Assets Rollforward:    
Fair Value, Assets, beginning balance 59 18
Total Realized/Unrealized Gains (Losses) Included in Net income (1) 0
Total Realized/Unrealized Gains (Losses) Included in OCI 2 0
Purchases 1 0
Issuances 0 0
Sales (11) 0
Settlements 0 0
Transfers in to Level 3 0 0
Transfers out of Level 3 (2) 0
Fair Value, Assets, ending balance 48 18
Change In Unrealized Gains (Losses) Included in Earnings 0 0
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI 0 0
U.S. corporate private securities    
Assets Rollforward:    
Fair Value, Assets, beginning balance 1,497 1,526
Total Realized/Unrealized Gains (Losses) Included in Net income (1) 0
Total Realized/Unrealized Gains (Losses) Included in OCI 19 (15)
Purchases 194 67
Issuances 0 0
Sales (7) (9)
Settlements (25) (79)
Transfers in to Level 3 0 0
Transfers out of Level 3 0 (35)
Fair Value, Assets, ending balance 1,677 1,455
Change In Unrealized Gains (Losses) Included in Earnings 0 0
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI 19 (19)
Foreign corporate public securities and foreign governments    
Assets Rollforward:    
Fair Value, Assets, beginning balance 60  
Total Realized/Unrealized Gains (Losses) Included in Net income 0  
Total Realized/Unrealized Gains (Losses) Included in OCI (1)  
Purchases 0  
Issuances 0  
Sales 0  
Settlements 0  
Transfers in to Level 3 0  
Transfers out of Level 3 0  
Fair Value, Assets, ending balance 59  
Change In Unrealized Gains (Losses) Included in Earnings 0  
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI (1)  
Foreign corporate private securities    
Assets Rollforward:    
Fair Value, Assets, beginning balance 421 436
Total Realized/Unrealized Gains (Losses) Included in Net income (19) 0
Total Realized/Unrealized Gains (Losses) Included in OCI 29 (4)
Purchases 161 0
Issuances 0 0
Sales 0 0
Settlements (2) (35)
Transfers in to Level 3 0 51
Transfers out of Level 3 0 0
Fair Value, Assets, ending balance 590 448
Change In Unrealized Gains (Losses) Included in Earnings (19) 0
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI 29 (4)
Residential mortgage-backed securities    
Assets Rollforward:    
Fair Value, Assets, beginning balance 67 57
Total Realized/Unrealized Gains (Losses) Included in Net income (3) (1)
Total Realized/Unrealized Gains (Losses) Included in OCI 0 0
Purchases 16 0
Issuances 0 0
Sales 0 0
Settlements 0 0
Transfers in to Level 3 0 0
Transfers out of Level 3 (10) (4)
Fair Value, Assets, ending balance 70 52
Change In Unrealized Gains (Losses) Included in Earnings (3) (1)
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI 0 0
Other asset-backed securities    
Assets Rollforward:    
Fair Value, Assets, beginning balance 23 52
Total Realized/Unrealized Gains (Losses) Included in Net income 0 0
Total Realized/Unrealized Gains (Losses) Included in OCI 0 0
Purchases 3 5
Issuances 0 0
Sales 0 0
Settlements (3) (2)
Transfers in to Level 3 0 0
Transfers out of Level 3 (4) 0
Fair Value, Assets, ending balance 19 55
Change In Unrealized Gains (Losses) Included in Earnings 0 0
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI 0 0
Equity securities, at fair value    
Assets Rollforward:    
Fair Value, Assets, beginning balance 98 96
Total Realized/Unrealized Gains (Losses) Included in Net income 3 3
Total Realized/Unrealized Gains (Losses) Included in OCI 0 0
Purchases 9 0
Issuances 0 0
Sales 0 0
Settlements 0 0
Transfers in to Level 3 0 0
Transfers out of Level 3 0 0
Fair Value, Assets, ending balance 110 99
Change In Unrealized Gains (Losses) Included in Earnings 3 2
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI 0 0
Contingent Consideration    
Liabilities Rollforward:    
Fair Value, Liabilities, Ending Balance (2) (51)
Total Realized/Unrealized Gains (Losses) Included in Net income (2) 1
Total Realized/Unrealized Gains (Losses) Included in OCI 0 0
Purchases 0 0
Issuances (149) 0
Sales 0 0
Settlements 1 2
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Fair Value, Liabilities, Ending Balance (152) (48)
Change In Unrealized Gains (Losses) Included in Earnings 0 0
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI 0 0
Assets held in separate accounts    
Assets Rollforward:    
Fair Value, Assets, beginning balance 340 348
Total Realized/Unrealized Gains (Losses) Included in Net income 4 0
Total Realized/Unrealized Gains (Losses) Included in OCI 0 0
Purchases 8 16
Issuances 0 0
Sales (14) (3)
Settlements 0 0
Transfers in to Level 3 0 5
Transfers out of Level 3 0 (6)
Fair Value, Assets, ending balance 338 360
Change In Unrealized Gains (Losses) Included in Earnings 0 0
Derivatives Rollforward:    
Change In Unrealized Gains (Losses) Included in OCI $ 0 $ 0