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Net Investment Income and Investment Related Gains (Losses) | 6 Months Ended
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Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Net Investment Income and Investment Related Gains (Losses) | 10. Net Investment Income and Investment Related Gains (Losses) Net investment income is shown below:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (Dollars in millions)
Available-for-sale fixed maturity securities |  | $ | 433 |  |  | $ | 167 |  |  | $ | 661 |  |  | $ | 324 |
Equity securities |  | 6 |  |  | — |  |  | 21 |  |  | — |
Mortgage loans |  | 160 |  |  | 73 |  |  | 238 |  |  | 142 |
Private loans |  | 1 |  |  | — |  |  | 1 |  |  | — |
Real estate |  | 39 |  |  | 1 |  |  | 52 |  |  | 5 |
Real estate partnerships |  | 6 |  |  | (1) |  |  | 6 |  |  | 15 |
Investment funds |  | 133 |  |  | 31 |  |  | 168 |  |  | 50 |
Policy loans |  | 6 |  |  | — |  |  | 6 |  |  | — |
Short-term investments |  | 45 |  |  | 58 |  |  | 77 |  |  | 92 |
Other |  | 95 |  |  | 13 |  |  | 142 |  |  | 38 |
Total net investment income |  | $ | 924 |  |  | $ | 342 |  |  | $ | 1,372 |  |  | $ | 666 |
Net unrealized and realized investment gains (losses) are shown below:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (Dollars in millions)
Available-for-sale fixed maturity securities |  | $ | (33) |  |  | $ | (35) |  |  | $ | (25) |  |  | $ | (60) |
Equity securities |  | 35 |  |  | 71 |  |  | 24 |  |  | 43 |
Mortgage loans |  | 2 |  |  | 2 |  |  | (6) |  |  | (10) |
Private loans |  | (3) |  |  | — |  |  | (3) |  |  | — |
Short-term investments and other invested assets |  | 1 |  |  | 3 |  |  | (22) |  |  | 7 |
Total investment related gains (losses), net |  | $ | 2 |  |  | $ | 41 |  |  | $ | (32) |  |  | $ | (20) |

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