v3.25.2
Fair Value Measurements - Changes in balances of Level 3 financial assets carried at fair value (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance $ 1,070 $ 1,297 $ 1,096 $ 1,230
Total realized/unrealized gains (losses) included in Net earnings (loss) 25 13 17 31
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 4 5 10 5
Purchases and issuances 35 87 75 179
Sales and settlements (40) (19) (95) (32)
Transfer into Level 3 9 0 13 0
Transfer out of Level 3 (41) (1) (54) (31)
Financial assets, Ending Balance 1,062 1,382 1,062 1,382
Fixed maturities        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 748 742 768 736
Total realized/unrealized gains (losses) included in Net earnings (loss) 7 (1) 1 (2)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 4 5 10 5
Purchases and issuances 31 24 55 72
Sales and settlements (40) (13) (81) (24)
Transfer into Level 3 2 0 6 0
Transfer out of Level 3 0 (1) (7) (31)
Financial assets, Ending Balance 752 756 752 756
State and municipal        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 4 2 1 2
Total realized/unrealized gains (losses) included in Net earnings (loss) 0 0 0 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 0 0 0 0
Purchases and issuances 0 0 0 0
Sales and settlements 0 0 0 0
Transfer into Level 3 2 0 5 0
Transfer out of Level 3 0 0 0 0
Financial assets, Ending Balance 6 2 6 2
Residential MBS        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 1 2 1 2
Total realized/unrealized gains (losses) included in Net earnings (loss) 0 0 0 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 0 0 0 0
Purchases and issuances 0 0 0 0
Sales and settlements 0 0 0 0
Transfer into Level 3 0 0 0 0
Transfer out of Level 3 0 0 0 0
Financial assets, Ending Balance 1 2 1 2
Collateralized loan obligations        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 0 1 0 1
Total realized/unrealized gains (losses) included in Net earnings (loss) 0 0 0 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 0 0 0 0
Purchases and issuances 0 0 0 0
Sales and settlements 0 0 0 0
Transfer into Level 3 0 0 0 0
Transfer out of Level 3 0 0 0 0
Financial assets, Ending Balance 0 1 0 1
Other asset-backed securities        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 281 335 296 351
Total realized/unrealized gains (losses) included in Net earnings (loss) 0 (1) 0 (1)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 3 4 5 4
Purchases and issuances 6 9 16 24
Sales and settlements (6) (7) (33) (12)
Transfer into Level 3 0 0 0 0
Transfer out of Level 3 0 0 0 (26)
Financial assets, Ending Balance 284 340 284 340
Corporate and other        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 462 402 470 380
Total realized/unrealized gains (losses) included in Net earnings (loss) 7 0 1 (1)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 1 1 5 1
Purchases and issuances 25 15 39 48
Sales and settlements (34) (6) (48) (12)
Transfer into Level 3 0 0 1 0
Transfer out of Level 3 0 (1) (7) (5)
Financial assets, Ending Balance 461 411 461 411
Trading fixed maturities        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 13 0 26 0
Total realized/unrealized gains (losses) included in Net earnings (loss) 0 0 1 0
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 0 0 0 0
Purchases and issuances 0 12 0 12
Sales and settlements 0 0 (14) 0
Transfer into Level 3 0 0 0 0
Transfer out of Level 3 0 0 0 0
Financial assets, Ending Balance 13 12 13 12
Equity securities        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 297 545 292 485
Total realized/unrealized gains (losses) included in Net earnings (loss) 20 15 18 35
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 0 0 0 0
Purchases and issuances 3 48 16 90
Sales and settlements 0 (6) 0 (8)
Transfer into Level 3 7 0 7 0
Transfer out of Level 3 (41) 0 (47) 0
Financial assets, Ending Balance 286 602 286 602
Assets of MIE        
Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Financial assets, Beginning Balance 12 10 10 9
Total realized/unrealized gains (losses) included in Net earnings (loss) (2) (1) (3) (2)
Total realized/unrealized gains (losses) included in other comprehensive income (loss) 0 0 0 0
Purchases and issuances 1 3 4 5
Sales and settlements 0 0 0 0
Transfer into Level 3 0 0 0 0
Transfer out of Level 3 0 0 0 0
Financial assets, Ending Balance $ 11 $ 12 $ 11 $ 12