v3.25.2
FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets and Liabilities Carried at Cost or Amortized Cost (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments $ 7,345 $ 5,958
Assets:    
Fixed maturity securities, held-to-maturity, amortized cost 17,439 15,971
Fixed maturity securities, held-to-maturity, fair value 17,607 16,772
Commercial mortgage and other loans 10,264 10,869
Commercial mortgage and other loans, fair value 10,099 10,653
Other investments carried at amortized cost 40 [1] 39 [2]
Other investments carried at amortized cost, fair value 40 [1] 39 [2]
Total financial instruments assets not carried at fair value 27,738 26,874
Assets fair value disclosure financial instruments carried at cost 27,746 27,464
Liabilities:    
Other policyholders’ funds 6,002 5,460
Other policyholders' funds fair value disclosure 5,925 5,389
Notes payable 8,837 7,402
Notes payable, fair value disclosure 8,415 7,027
Total financial instrument liabilities not carried at fair value 14,839 12,862
Liabilities fair value disclosure financial instruments carried at cost 14,340 12,416
Government and agencies    
Assets:    
Fixed maturity securities, held-to-maturity, amortized cost 16,718 15,309
Fixed maturity securities, held-to-maturity, fair value 16,860 16,059
Municipalities    
Assets:    
Fixed maturity securities, held-to-maturity, amortized cost 255 235
Fixed maturity securities, held-to-maturity, fair value 265 257
Public utilities    
Assets:    
Fixed maturity securities, held-to-maturity, amortized cost 35 32
Fixed maturity securities, held-to-maturity, fair value 34 33
Sovereign and supranational    
Assets:    
Fixed maturity securities, held-to-maturity, amortized cost 409 374
Fixed maturity securities, held-to-maturity, fair value 430 405
Other corporate    
Assets:    
Fixed maturity securities, held-to-maturity, amortized cost 17 16
Fixed maturity securities, held-to-maturity, fair value 18 18
Policy loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 221 203
Equity method investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments [3] 3,745 3,435
Real estate owned    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other investments 964 682
Level 1    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 16,711 15,916
Commercial mortgage and other loans, fair value 0 0
Other investments carried at amortized cost, fair value 0 [1] 0 [2]
Assets fair value disclosure financial instruments carried at cost 16,711 15,916
Liabilities:    
Other policyholders' funds fair value disclosure 0 0
Notes payable, fair value disclosure 0 0
Liabilities fair value disclosure financial instruments carried at cost 0 0
Level 1 | Government and agencies    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 16,711 15,916
Level 1 | Municipalities    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Level 1 | Public utilities    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Level 1 | Sovereign and supranational    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Level 1 | Other corporate    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Level 2    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 896 856
Commercial mortgage and other loans, fair value 0 0
Other investments carried at amortized cost, fair value 40 [1] 39 [2]
Assets fair value disclosure financial instruments carried at cost 936 895
Liabilities:    
Other policyholders' funds fair value disclosure 0 0
Notes payable, fair value disclosure 7,678 6,352
Liabilities fair value disclosure financial instruments carried at cost 7,678 6,352
Level 2 | Government and agencies    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 149 143
Level 2 | Municipalities    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 265 257
Level 2 | Public utilities    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 34 33
Level 2 | Sovereign and supranational    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 430 405
Level 2 | Other corporate    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 18 18
Level 3    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Commercial mortgage and other loans, fair value 10,099 10,653
Other investments carried at amortized cost, fair value 0 [1] 0 [2]
Assets fair value disclosure financial instruments carried at cost 10,099 10,653
Liabilities:    
Other policyholders' funds fair value disclosure 5,925 5,389
Notes payable, fair value disclosure 737 675
Liabilities fair value disclosure financial instruments carried at cost 6,662 6,064
Level 3 | Government and agencies    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Level 3 | Municipalities    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Level 3 | Public utilities    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Level 3 | Sovereign and supranational    
Assets:    
Fixed maturity securities, held-to-maturity, fair value 0 0
Level 3 | Other corporate    
Assets:    
Fixed maturity securities, held-to-maturity, fair value $ 0 $ 0
[1] Excludes policy loans of $221, equity method investments of $3,745, and REO of $964, at carrying value
[2] Excludes policy loans of $203, equity method investments of $3,435, and REO of $682, at carrying value
[3] Includes tax credit investments and asset classes such as private equity and real estate funds