v3.25.2
INVESTMENTS - Schedule of Amortized Cost, Allowance for Credit Losses, Gross Unrealized Appreciation/(Depreciation) and Fair Value of Fixed Maturity Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Fixed maturity securities - available for sale            
Amortized Cost $ 19,992   $ 17,685      
Allowance for Credit Losses (40) $ (37) (36) $ (42) $ (46) $ (48)
Unrealized Appreciation 262   106      
Unrealized Depreciation (419)   (569)      
Fair Value 19,796   17,186      
Fixed maturity securities – held to maturity            
Amortized Cost 658   765      
Allowance for Credit Losses (7) (8) (8) (8) (9) (8)
Unrealized Appreciation 15   14      
Unrealized Depreciation (10)   (12)      
Fair Value 657   759      
U.S. Treasury securities and obligations of U.S. government agencies and corporations            
Fixed maturity securities - available for sale            
Amortized Cost 258   266      
Allowance for Credit Losses 0   0      
Unrealized Appreciation 0   0      
Unrealized Depreciation (9)   (11)      
Fair Value 249   255      
Obligations of U.S. States and political subdivisions            
Fixed maturity securities - available for sale            
Amortized Cost 57   75      
Allowance for Credit Losses 0   0      
Unrealized Appreciation 0   0      
Unrealized Depreciation (7)   (5)      
Fair Value 50   70      
Corporate securities            
Fixed maturity securities - available for sale            
Amortized Cost 5,958   4,156      
Allowance for Credit Losses (39) (36) (35) (42) (45) (47)
Unrealized Appreciation 105   37      
Unrealized Depreciation (128)   (160)      
Fair Value 5,896   3,997      
Fixed maturity securities – held to maturity            
Amortized Cost 168   177      
Allowance for Credit Losses (2) (2) (2) (2) (2) (2)
Unrealized Appreciation 5   5      
Unrealized Depreciation (2)   (4)      
Fair Value 169   175      
Asset-backed securities            
Fixed maturity securities - available for sale            
Amortized Cost 4,758   5,321      
Allowance for Credit Losses 0 0 0 0 0 0
Unrealized Appreciation 18   24      
Unrealized Depreciation (27)   (35)      
Fair Value 4,749   5,311      
Fixed maturity securities – held to maturity            
Amortized Cost 404   484      
Allowance for Credit Losses (4) (4) (4) (5) (5) (5)
Unrealized Appreciation 5   5      
Unrealized Depreciation (7)   (8)      
Fair Value 398   477      
Commercial            
Fixed maturity securities - available for sale            
Amortized Cost     479      
Allowance for Credit Losses     0      
Unrealized Appreciation     0      
Unrealized Depreciation     (38)      
Fair Value     441      
Fixed maturity securities – held to maturity            
Amortized Cost 7   21      
Allowance for Credit Losses 0   0      
Unrealized Appreciation 0   0      
Unrealized Depreciation 0   0      
Fair Value 7   21      
Agency commercial            
Fixed maturity securities - available for sale            
Amortized Cost 208   0      
Allowance for Credit Losses 0          
Unrealized Appreciation 3          
Unrealized Depreciation (2)          
Fair Value 210   0      
Non-agency commercial            
Fixed maturity securities - available for sale            
Amortized Cost 473   479      
Allowance for Credit Losses 0          
Unrealized Appreciation 1          
Unrealized Depreciation (27)          
Fair Value 447   441      
Agency residential            
Fixed maturity securities - available for sale            
Amortized Cost 3,804   3,306      
Allowance for Credit Losses 0   0      
Unrealized Appreciation 30   10      
Unrealized Depreciation (126)   (166)      
Fair Value 3,708   3,151      
Non-agency residential            
Fixed maturity securities - available for sale            
Amortized Cost 1,353   1,164      
Allowance for Credit Losses 0   0      
Unrealized Appreciation 24   9      
Unrealized Depreciation (3)   (11)      
Fair Value 1,374   1,161      
Foreign government securities            
Fixed maturity securities - available for sale            
Amortized Cost 1,004   1,013      
Allowance for Credit Losses 0   0      
Unrealized Appreciation 20   8      
Unrealized Depreciation (31)   (52)      
Fair Value 992   970      
Foreign corporate securities            
Fixed maturity securities - available for sale            
Amortized Cost 2,121   1,905      
Allowance for Credit Losses 0 0 0 0 0 0
Unrealized Appreciation 60   17      
Unrealized Depreciation (60)   (91)      
Fair Value 2,121   1,831      
Fixed maturity securities – held to maturity            
Amortized Cost 79   84      
Allowance for Credit Losses (1) $ (1) (1) $ (1) $ (1) $ (1)
Unrealized Appreciation 5   4      
Unrealized Depreciation 0   0      
Fair Value $ 83   $ 86