v3.25.2
Fair Value of Assets and Liabilities - Schedule of Assets and Liabilities Measured at Fair Value (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Assets    
Fixed income securities, at fair value $ 54,435 $ 52,747
Equity securities 2,397 4,463
Short-term investments 9,640 4,537
Other investments 964 824
Assets held for sale 715 3,092
Total assets at fair value 66,783 63,521
Counterparty and cash collateral netting (2) (19)
Total 67,736 64,617
Liabilities    
Preferred stock measured at cost 150 150
U.S. government and agencies    
Assets    
Fixed income securities, at fair value 15,712 11,108
Municipal    
Assets    
Fixed income securities, at fair value 7,286 8,842
Foreign government    
Assets    
Fixed income securities, at fair value 1,391 1,364
ABS    
Assets    
Fixed income securities, at fair value 983 1,145
MBS    
Assets    
Fixed income securities, at fair value 1,101 96
Quoted prices in active markets for identical assets (Level 1)    
Assets    
Total assets at fair value 21,266 16,956
Significant other observable inputs (Level 2)    
Assets    
Total assets at fair value 44,744 45,779
Significant unobservable inputs (Level 3)    
Assets    
Total assets at fair value 775 805
Reported to NAV    
Assets    
Investments reported at NAV 953 1,096
Recurring basis    
Assets    
Fixed income securities, at fair value 54,435 52,747
Equity securities 2,247 4,313
Short-term investments 9,640 4,537
Other investments 1 3
Other investments (2) (19)
Other assets 138 134
Assets held for sale 320 1,784
Total assets at fair value 66,781 63,518
Counterparty and cash collateral netting (2) (19)
Liabilities    
Other liabilities (15) (1)
Other liabilities 38 1
Counterparty and cash collateral netting 38 1
Total recurring basis liabilities (15) (1)
Recurring basis | U.S. government and agencies    
Assets    
Fixed income securities, at fair value 15,712 11,108
Recurring basis | Municipal    
Assets    
Fixed income securities, at fair value 7,286 8,842
Recurring basis | Corporate - public    
Assets    
Fixed income securities, at fair value 19,006 21,233
Recurring basis | Corporate - privately placed    
Assets    
Fixed income securities, at fair value 8,956 8,959
Recurring basis | Foreign government    
Assets    
Fixed income securities, at fair value 1,391 1,364
Recurring basis | ABS    
Assets    
Fixed income securities, at fair value 983 1,145
Recurring basis | MBS    
Assets    
Fixed income securities, at fair value 1,101 96
Recurring basis | Quoted prices in active markets for identical assets (Level 1)    
Assets    
Fixed income securities, at fair value 15,703 11,099
Equity securities 1,611 3,600
Short-term investments 3,756 2,016
Other investments 0 0
Other assets 1 0
Assets held for sale 195 241
Total assets at fair value 21,266 16,956
Liabilities    
Other liabilities (3) (1)
Total recurring basis liabilities (3) (1)
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | U.S. government and agencies    
Assets    
Fixed income securities, at fair value 15,703 11,099
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | Municipal    
Assets    
Fixed income securities, at fair value 0 0
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | Corporate - public    
Assets    
Fixed income securities, at fair value 0 0
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | Corporate - privately placed    
Assets    
Fixed income securities, at fair value 0 0
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | Foreign government    
Assets    
Fixed income securities, at fair value 0 0
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | ABS    
Assets    
Fixed income securities, at fair value 0 0
Recurring basis | Quoted prices in active markets for identical assets (Level 1) | MBS    
Assets    
Fixed income securities, at fair value 0 0
Recurring basis | Significant other observable inputs (Level 2)    
Assets    
Fixed income securities, at fair value 38,459 41,400
Equity securities 278 306
Short-term investments 5,880 2,516
Other investments 2 21
Other assets 0 0
Assets held for sale 125 1,536
Total assets at fair value 44,744 45,779
Liabilities    
Other liabilities (49) (1)
Total recurring basis liabilities (49) (1)
Recurring basis | Significant other observable inputs (Level 2) | U.S. government and agencies    
Assets    
Fixed income securities, at fair value 9 9
Recurring basis | Significant other observable inputs (Level 2) | Municipal    
Assets    
Fixed income securities, at fair value 7,284 8,840
Recurring basis | Significant other observable inputs (Level 2) | Corporate - public    
Assets    
Fixed income securities, at fair value 18,971 21,211
Recurring basis | Significant other observable inputs (Level 2) | Corporate - privately placed    
Assets    
Fixed income securities, at fair value 8,847 8,849
Recurring basis | Significant other observable inputs (Level 2) | Foreign government    
Assets    
Fixed income securities, at fair value 1,391 1,364
Recurring basis | Significant other observable inputs (Level 2) | ABS    
Assets    
Fixed income securities, at fair value 944 1,119
Recurring basis | Significant other observable inputs (Level 2) | MBS    
Assets    
Fixed income securities, at fair value 1,013 8
Recurring basis | Significant unobservable inputs (Level 3)    
Assets    
Fixed income securities, at fair value 273 248
Equity securities 358 407
Short-term investments 4 5
Other investments 1 1
Other assets 137 134
Assets held for sale 0 7
Total assets at fair value 773 802
Liabilities    
Other liabilities (1) 0
Total recurring basis liabilities (1) 0
Recurring basis | Significant unobservable inputs (Level 3) | U.S. government and agencies    
Assets    
Fixed income securities, at fair value 0 0
Recurring basis | Significant unobservable inputs (Level 3) | Municipal    
Assets    
Fixed income securities, at fair value 2 2
Recurring basis | Significant unobservable inputs (Level 3) | Corporate - public    
Assets    
Fixed income securities, at fair value 35 22
Recurring basis | Significant unobservable inputs (Level 3) | Corporate - privately placed    
Assets    
Fixed income securities, at fair value 109 110
Recurring basis | Significant unobservable inputs (Level 3) | Foreign government    
Assets    
Fixed income securities, at fair value 0 0
Recurring basis | Significant unobservable inputs (Level 3) | ABS    
Assets    
Fixed income securities, at fair value 39 26
Recurring basis | Significant unobservable inputs (Level 3) | MBS    
Assets    
Fixed income securities, at fair value 88 88
Non-recurring basis    
Assets    
Total assets at fair value 2 3
Non-recurring basis | Quoted prices in active markets for identical assets (Level 1)    
Assets    
Total assets at fair value 0 0
Non-recurring basis | Significant other observable inputs (Level 2)    
Assets    
Total assets at fair value 0 0
Non-recurring basis | Significant unobservable inputs (Level 3)    
Assets    
Total assets at fair value $ 2 $ 3