v3.25.2
Investments - Investment Portfolio by Major Security Type (Detail) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 84,475 $ 77,741 $ 70,401
Gross Unrealized Gains 889 145 106
Gross Unrealized Losses (999) (1,935) (2,267)
Net Holding Period Gains (Losses) 10 (4) (18)
Total available-for-sale securities $ 84,375 $ 75,947 $ 68,222
% of Total Fair Value 95.20% 94.60% 94.20%
Equity securities, at Fair Value      
Cost $ 1,292 $ 1,501 $ 1,595
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) 2,943 2,802 2,539
Fair Value $ 4,235 $ 4,303 $ 4,134
% of Total Fair Value 4.80% 5.40% 5.80%
Debt and Equity Securities, at Fair Value      
Cost $ 85,767 $ 79,242 $ 71,996
Gross Unrealized Gains 889 145 106
Gross Unrealized Losses (999) (1,935) (2,267)
Net Holding Period Gains (Losses) 2,953 2,798 2,521
Fair Value $ 88,610 $ 80,250 $ 72,356
% of Total Fair Value 100.00% 100.00% 100.00%
Unsettled security transactions, payable $ 303   $ 74
Other receivable from broker-dealer and clearing organization   $ 125  
Total fair value of non-insurance subsidiary portfolio 5,000 6,200 4,100
Nonredeemable preferred stocks      
Equity securities, at Fair Value      
Cost 517 756 887
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) (17) (28) (49)
Fair Value $ 500 $ 728 $ 838
% of Total Fair Value 0.60% 0.90% 1.20%
Common equities      
Equity securities, at Fair Value      
Cost $ 775 $ 745 $ 708
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) 2,960 2,830 2,588
Fair Value $ 3,735 $ 3,575 $ 3,296
% of Total Fair Value 4.20% 4.50% 4.60%
Total fixed maturities      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 82,372 $ 77,126 $ 69,668
Gross Unrealized Gains 889 145 106
Gross Unrealized Losses (999) (1,935) (2,267)
Net Holding Period Gains (Losses) 10 (4) (18)
Total available-for-sale securities $ 82,272 $ 75,332 $ 67,489
% of Total Fair Value 92.80% 93.90% 93.20%
Total fixed maturities | U.S. government obligations      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 46,684 $ 47,103 $ 42,063
Gross Unrealized Gains 598 36 60
Gross Unrealized Losses (472) (1,151) (1,229)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 46,810 $ 45,988 $ 40,894
% of Total Fair Value 52.80% 57.30% 56.50%
Total fixed maturities | State and local government obligations      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 3,030 $ 2,893 $ 2,345
Gross Unrealized Gains 12 2 1
Gross Unrealized Losses (78) (117) (144)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 2,964 $ 2,778 $ 2,202
% of Total Fair Value 3.30% 3.50% 3.00%
Total fixed maturities | Foreign government obligations      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 17 $ 16 $ 17
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 (1)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 17 $ 16 $ 16
% of Total Fair Value 0.00% 0.00% 0.10%
Total fixed maturities | Corporate and other debt securities      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 18,004 $ 14,111 $ 13,439
Gross Unrealized Gains 222 65 33
Gross Unrealized Losses (112) (215) (306)
Net Holding Period Gains (Losses) 8 (7) (20)
Total available-for-sale securities $ 18,122 $ 13,954 $ 13,146
% of Total Fair Value 20.50% 17.40% 18.10%
Total fixed maturities | Residential mortgage-backed securities      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 2,644 $ 1,600 $ 981
Gross Unrealized Gains 21 9 2
Gross Unrealized Losses (7) (11) (9)
Net Holding Period Gains (Losses) 2 3 2
Total available-for-sale securities $ 2,660 $ 1,601 $ 976
% of Total Fair Value 3.00% 2.00% 1.30%
Total fixed maturities | Commercial mortgage-backed securities      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 5,325 $ 4,721 $ 4,457
Gross Unrealized Gains 10 7 2
Gross Unrealized Losses (286) (376) (489)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 5,049 $ 4,352 $ 3,970
% of Total Fair Value 5.70% 5.40% 5.50%
Total fixed maturities | Other asset-backed securities      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 6,668 $ 6,682 $ 6,366
Gross Unrealized Gains 26 26 8
Gross Unrealized Losses (44) (65) (89)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 6,650 $ 6,643 $ 6,285
% of Total Fair Value 7.50% 8.30% 8.70%
Short-term investments      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 2,103 $ 615 $ 733
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 2,103 $ 615 $ 733
% of Total Fair Value 2.40% 0.70% 1.00%