Investments in fixed maturity securities are summarized by type below (in millions).


	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
December 31, 2025
U.S. Treasury, U.S. government corporations and agencies	$	3,835	$	14	$	—		$	3,849
Foreign governments		12,493		58		(9	)		12,542
Corporate and other		1,197		232		(4	)		1,425
	$	17,525	$	304	$	(13	)	$	17,816
December 31, 2024
U.S. Treasury, U.S. government corporations and agencies	$	4,447	$	16	$	(4	)	$	4,459
Foreign governments		9,443		16		(97	)		9,362
Corporate and other		1,324		225		(6	)		1,543
	$	15,214	$	257	$	(107	)	$	15,364

Investments in fixed maturity securities are generally classified as available-for-sale. As of December 31, 2025, approximately 95% of our foreign government holdings were rated AA or higher by at least one of the major rating agencies. The amortized cost and estimated fair value of fixed maturity securities at December 31, 2025 are summarized below by contractual maturity dates (in millions). Actual maturities may differ from contractual maturities due to prepayment rights held by issuers.


	Due in one year or less		Due after one year through five years		Due after five years through ten years		Due after ten years		Mortgage-backed securities		Total
Amortized cost	$	12,875	$	4,040	$	406	$	100	$	104	$	17,525
Fair value		12,949		4,083		558		110		116		17,816