v3.25.2
Fair Value Measurement - Fair Value Level 3 Rollforward Recurring Basis (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
FG VIEs’ Assets        
Fair Value Level 3 Rollforward        
Fair value at beginning of period $ 145   $ 147 $ 174
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) 4   7 (3)
Other comprehensive income (loss) 0   0 1
Purchases 0   0 0
Sales 0   0 0
Settlements (5)   (10) (12)
Consolidations 9   9  
Transfers into Level 3       0
Fair value at end of period 153 $ 160 153 160
Change in unrealized gains/(losses) related to financial instruments held 3   5 (5)
FG VIEs’ Assets | Other Comprehensive Income (Loss)        
Total pre-tax realized and unrealized gains (losses) recorded in:        
Change in unrealized gains/(losses) related to financial instruments held       1
FG VIEs’ Assets | Assets of CIVs, Equity Securities        
Fair Value Level 3 Rollforward        
Fair value at beginning of period   89    
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss)   4    
Other comprehensive income (loss)   0    
Purchases   0    
Sales   0    
Settlements   0    
Fair value at end of period   93   93
Change in unrealized gains/(losses) related to financial instruments held   5    
Consolidated Investment Vehicles | Assets of CIVs, Equity Securities        
Fair Value Level 3 Rollforward        
Fair value at beginning of period 118   99 80
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) 3   22 12
Other comprehensive income (loss) 0   0 0
Purchases 0   0 0
Sales 0   0 (2)
Settlements 0   0 0
Consolidations 0   0  
Transfers into Level 3       3
Fair value at end of period 121 93 121 93
Change in unrealized gains/(losses) related to financial instruments held 3   22 12
Consolidated Investment Vehicles | Structured Products        
Fair Value Level 3 Rollforward        
Fair value at beginning of period   220   189
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss)   (9)   (5)
Other comprehensive income (loss)   0   0
Purchases   22   51
Sales   (8)   (20)
Settlements   0   0
Transfers into Level 3       10
Fair value at end of period   225   225
Change in unrealized gains/(losses) related to financial instruments held   (8)   (2)
Other        
Fair Value Level 3 Rollforward        
Fair value at beginning of period 6 5 5 14
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) (1) 2 1 (8)
Other comprehensive income (loss) 0 (1) (1) 0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements 0 0 0 0
Consolidations 0   0  
Transfers into Level 3       0
Fair value at end of period 5 6 5 6
Change in unrealized gains/(losses) related to financial instruments held (1) 2 1 (8)
Other | Other Comprehensive Income (Loss)        
Total pre-tax realized and unrealized gains (losses) recorded in:        
Change in unrealized gains/(losses) related to financial instruments held 0 (1) (1) 0
Financial Guaranty Variable Interest Entities        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair value at start of period (163) (399) (164) (554)
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) (3) 0 (5) 9
Other comprehensive income (loss) 1 2 0 0
Settlements 4 4 8 152
Fair value at end of period (161) (393) (161) (393)
Change in unrealized gains/(losses) included in earnings related to financial instruments (2) 2 (4) 4
Change in unrealized gains/(losses) included in OCI related to financial instruments 1 2 0 0
Obligations of state and political subdivisions | Fixed-maturity securities, available-for-sale        
Fair Value Level 3 Rollforward        
Fair value at beginning of period 10 6 10 6
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) 2 0 2 0
Other comprehensive income (loss) 0 2 0 2
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (2) (1) (2) (1)
Consolidations 0   0  
Transfers into Level 3       0
Fair value at end of period 10 7 10 7
Obligations of state and political subdivisions | Fixed-maturity securities, available-for-sale | Other Comprehensive Income (Loss)        
Total pre-tax realized and unrealized gains (losses) recorded in:        
Change in unrealized gains/(losses) related to financial instruments held 0 2 0 2
Corporate securities | Fixed-maturity securities, available-for-sale        
Fair Value Level 3 Rollforward        
Fair value at beginning of period 5   0  
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) 0   0  
Other comprehensive income (loss) 10   10  
Purchases 69   74  
Sales 0   0  
Settlements 0   0  
Consolidations 0   0  
Fair value at end of period 84   84  
Corporate securities | Fixed-maturity securities, available-for-sale | Other Comprehensive Income (Loss)        
Total pre-tax realized and unrealized gains (losses) recorded in:        
Change in unrealized gains/(losses) related to financial instruments held 10   10  
RMBS | Fixed-maturity securities, available-for-sale        
Fair Value Level 3 Rollforward        
Fair value at beginning of period 144 153 145 154
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) 1 4 4 7
Other comprehensive income (loss) 4 1 6 2
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements (7) (8) (13) (13)
Consolidations 0   0  
Transfers into Level 3       0
Fair value at end of period 142 150 142 150
RMBS | Fixed-maturity securities, available-for-sale | Other Comprehensive Income (Loss)        
Total pre-tax realized and unrealized gains (losses) recorded in:        
Change in unrealized gains/(losses) related to financial instruments held 4 1 6 2
Asset-backed securities | Fixed-maturity securities, available-for-sale        
Fair Value Level 3 Rollforward        
Fair value at beginning of period 983 821 1,031 803
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) 11 1 18 17
Other comprehensive income (loss) 10 6 11 8
Purchases 0 1 0 11
Sales (3) 0 (12) 0
Settlements (24) (34) (71) (64)
Consolidations 0   0  
Transfers into Level 3       20
Fair value at end of period 977 795 977 795
Asset-backed securities | Fixed-maturity securities, available-for-sale | Other Comprehensive Income (Loss)        
Total pre-tax realized and unrealized gains (losses) recorded in:        
Change in unrealized gains/(losses) related to financial instruments held 10 6 11 8
Fixed-Maturity Securities, Trading | Fixed-maturity securities, available-for-sale        
Fair Value Level 3 Rollforward        
Fair value at beginning of period 5 167 5  
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) 0 (1) 0  
Other comprehensive income (loss) 0 0 0  
Purchases 0 0 0  
Sales 0 0 0  
Settlements (1) (6) (1)  
Consolidations 0   0  
Fair value at end of period 4 160 4 160
Change in unrealized gains/(losses) related to financial instruments held 0 (2) 0  
Credit Risk Contract        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Fair value at start of period (30) (39) (29) (50)
Total pre-tax realized and unrealized gains (losses) recorded in:        
Net income (loss) 1 6 105 16
Other comprehensive income (loss) 0 0 0 0
Settlements 0 (1) (105) 0
Fair value at end of period (29) (34) (29) (34)
Change in unrealized gains/(losses) included in earnings related to financial instruments $ 1 $ 3 $ 0 $ 7