v3.25.2
FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details)
$ in Millions
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale $ 68,879 $ 65,269
Equity securities 882 796
Total assets 79,191 74,133
Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 2,909 2,067
Equity securities 167 157
Total assets 3,076 2,224
Adjusted cost valuation technique | Level 3 | Private Financials    
Fair Value Measurement Inputs and Valuation Techniques    
Equity securities 167 157
Municipalities    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 2,074 2,034
Municipalities | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 0 0
Mortgage- and asset-backed securities    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 4,526 3,563
Mortgage- and asset-backed securities | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 1,922 1,156
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Offered Quotes    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale $ 1,922 $ 1,156
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [1] 87.62 84.08
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [1] 107.25 104.60
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [1] 100.12 99.07
Public utilities    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale $ 7,474 $ 7,045
Public utilities | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 792 647
Public utilities | Discounted cash flow technique | Level 3 | Credit Spreads    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale $ 792 $ 647
Public utilities | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [2] 0.0100 0.0100
Public utilities | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [2] 0.0347 0.0375
Public utilities | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [2] 0.0160 0.0162
Sovereign and supranational    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale $ 435 $ 416
Sovereign and supranational | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 23 23
Sovereign and supranational | Consensus pricing valuation technique | Level 3 | Offered Quotes    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 23 23
Banks/financial institutions    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 9,827 8,956
Banks/financial institutions | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 9 10
Banks/financial institutions | Adjusted cost valuation technique | Level 3 | Private Financials    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 9 10
Other corporate    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 26,790 25,409
Other corporate | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale 163 231
Other corporate | Discounted cash flow technique | Level 3 | Credit Spreads    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale $ 163 $ 231
Other corporate | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [2] 0.0100 0.0091
Other corporate | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [2] 0.0392 0.0294
Other corporate | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads    
Fair Value Measurement Inputs and Valuation Techniques    
Fixed maturity securities, available-for-sale, measurement input [2] 0.0228 0.0173
[1] Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques
[2] Actual or equivalent credit spreads in basis points