v3.26.1
Investments - Investment Portfolio by Major Security Type (Detail) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 90,534 $ 92,709 $ 80,349
Gross Unrealized Gains 405 901 572
Gross Unrealized Losses (983) (753) (1,224)
Net Holding Period Gains (Losses) 2 14 (1)
Total available-for-sale securities $ 89,958 $ 92,871 $ 79,696
% of Total Fair Value 95.60% 95.40% 95.30%
Equity securities, at Fair Value      
Cost $ 1,098 $ 1,238 $ 1,382
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) 3,075 3,264 2,586
Fair Value $ 4,173 $ 4,502 $ 3,968
% of Total Fair Value 4.40% 4.60% 4.70%
Debt and Equity Securities, at Fair Value      
Cost $ 91,632 $ 93,947 $ 81,731
Gross Unrealized Gains 405 901 572
Gross Unrealized Losses (983) (753) (1,224)
Net Holding Period Gains (Losses) 3,077 3,278 2,585
Fair Value $ 94,131 $ 97,373 $ 83,664
% of Total Fair Value 100.00% 100.00% 100.00%
Unsettled security transactions, payable $ 443 $ 200 $ 297
Total fair value of non-insurance subsidiary portfolio 6,200 13,000 3,500
Nonredeemable preferred stocks      
Equity securities, at Fair Value      
Cost 259 419 608
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) (19) (15) (24)
Fair Value $ 240 $ 404 $ 584
% of Total Fair Value 0.20% 0.40% 0.70%
Common equities      
Equity securities, at Fair Value      
Cost $ 839 $ 819 $ 774
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) 3,094 3,279 2,610
Fair Value $ 3,933 $ 4,098 $ 3,384
% of Total Fair Value 4.20% 4.20% 4.00%
Total fixed maturities      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 88,408 $ 82,704 $ 77,754
Gross Unrealized Gains 405 901 572
Gross Unrealized Losses (983) (753) (1,224)
Net Holding Period Gains (Losses) 2 14 (1)
Total available-for-sale securities $ 87,832 $ 82,866 $ 77,101
% of Total Fair Value 93.30% 85.10% 92.20%
Total fixed maturities | U.S. government      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 44,676 $ 43,114 $ 44,523
Gross Unrealized Gains 229 541 391
Gross Unrealized Losses (488) (357) (596)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 44,417 $ 43,298 $ 44,318
% of Total Fair Value 47.20% 44.50% 53.00%
Total fixed maturities | State and local government      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 3,135 $ 3,342 $ 2,688
Gross Unrealized Gains 13 19 6
Gross Unrealized Losses (61) (58) (90)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 3,087 $ 3,303 $ 2,604
% of Total Fair Value 3.30% 3.40% 3.10%
Total fixed maturities | Foreign government      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 16 $ 17 $ 16
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 16 $ 17 $ 16
% of Total Fair Value 0.00% 0.00% 0.00%
Total fixed maturities | Corporate and other debt      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 20,994 $ 19,773 $ 16,047
Gross Unrealized Gains 121 273 127
Gross Unrealized Losses (132) (68) (156)
Net Holding Period Gains (Losses) 3 13 (2)
Total available-for-sale securities $ 20,986 $ 19,991 $ 16,016
% of Total Fair Value 22.30% 20.50% 19.20%
Total fixed maturities | Residential mortgage-backed      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 4,127 $ 3,152 $ 2,172
Gross Unrealized Gains 23 28 18
Gross Unrealized Losses (13) (6) (8)
Net Holding Period Gains (Losses) (1) 1 1
Total available-for-sale securities $ 4,136 $ 3,175 $ 2,183
% of Total Fair Value 4.40% 3.30% 2.60%
Total fixed maturities | Commercial mortgage-backed      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 7,228 $ 6,194 $ 5,144
Gross Unrealized Gains 6 12 5
Gross Unrealized Losses (243) (233) (324)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 6,991 $ 5,973 $ 4,825
% of Total Fair Value 7.40% 6.10% 5.80%
Total fixed maturities | Other asset-backed      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 8,232 $ 7,112 $ 7,164
Gross Unrealized Gains 13 28 25
Gross Unrealized Losses (46) (31) (50)
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 8,199 $ 7,109 $ 7,139
% of Total Fair Value 8.70% 7.30% 8.50%
Short-term investments      
Debt Securities, Available-for-Sale, at Fair Value      
Cost $ 2,126 $ 10,005 $ 2,595
Gross Unrealized Gains 0 0 0
Gross Unrealized Losses 0 0 0
Net Holding Period Gains (Losses) 0 0 0
Total available-for-sale securities $ 2,126 $ 10,005 $ 2,595
% of Total Fair Value 2.30% 10.30% 3.10%