v3.26.1
INVESTMENTS - Schedule of Amortized Cost, Allowance for Credit Losses, Gross Unrealized Appreciation/(Depreciation) and Fair Value of Fixed Maturity Securities (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Fixed maturity securities - available for sale        
Amortized Cost $ 35,137 $ 34,620    
Allowance for Credit Losses (53) (68) $ (37) $ (36)
Unrealized Appreciation 352 640    
Unrealized Depreciation (784) (619)    
Fair Value 34,651 34,573    
Fixed maturity securities – held to maturity        
Amortized Cost 604 573    
Allowance for Credit Losses (8) (6) (8) (8)
Unrealized Appreciation 14 18    
Unrealized Depreciation (9) (9)    
Fair Value 601 576    
U.S. Treasury securities and obligations of U.S. government agencies and corporations        
Fixed maturity securities - available for sale        
Amortized Cost 888 845    
Allowance for Credit Losses 0 0    
Unrealized Appreciation 2 4    
Unrealized Depreciation (17) (19)    
Fair Value 874 830    
Obligations of U.S. States and political subdivisions        
Fixed maturity securities - available for sale        
Amortized Cost 45 45    
Allowance for Credit Losses 0 0    
Unrealized Appreciation 0 0    
Unrealized Depreciation (5) (4)    
Fair Value 40 41    
Corporate securities        
Fixed maturity securities - available for sale        
Amortized Cost 9,987 9,913    
Allowance for Credit Losses (39) (54) (36) (35)
Unrealized Appreciation 110 206    
Unrealized Depreciation (215) (183)    
Fair Value 9,843 9,882    
Fixed maturity securities – held to maturity        
Amortized Cost 181 166    
Allowance for Credit Losses (2) (2) (2) (2)
Unrealized Appreciation 4 7    
Unrealized Depreciation (2) (1)    
Fair Value 180 169    
Asset-backed securities        
Fixed maturity securities - available for sale        
Amortized Cost 4,949 5,094    
Allowance for Credit Losses (14) (14) 0 0
Unrealized Appreciation 5 14    
Unrealized Depreciation (43) (17)    
Fair Value 4,898 5,077    
Fixed maturity securities – held to maturity        
Amortized Cost 340 328    
Allowance for Credit Losses (5) (3) (4) (4)
Unrealized Appreciation 5 5    
Unrealized Depreciation (7) (8)    
Fair Value 333 322    
Agency commercial        
Fixed maturity securities - available for sale        
Amortized Cost 403 404    
Allowance for Credit Losses 0 0    
Unrealized Appreciation 7 9    
Unrealized Depreciation (2) (2)    
Fair Value 408 412    
Non-agency commercial        
Fixed maturity securities - available for sale        
Amortized Cost 1,249 1,151    
Allowance for Credit Losses 0 0    
Unrealized Appreciation 2 4    
Unrealized Depreciation (36) (33)    
Fair Value 1,215 1,121    
Fixed maturity securities – held to maturity        
Amortized Cost 0      
Allowance for Credit Losses 0      
Unrealized Appreciation 0      
Unrealized Depreciation 0      
Fair Value 0      
Agency residential        
Fixed maturity securities - available for sale        
Amortized Cost 5,429 5,544    
Allowance for Credit Losses 0 0    
Unrealized Appreciation 53 82    
Unrealized Depreciation (174) (161)    
Fair Value 5,309 5,465    
Non-agency residential        
Fixed maturity securities - available for sale        
Amortized Cost 1,772 1,689    
Allowance for Credit Losses 0 0    
Unrealized Appreciation 17 32    
Unrealized Depreciation (6) (1)    
Fair Value 1,783 1,721    
Foreign government securities        
Fixed maturity securities - available for sale        
Amortized Cost 2,375 2,400    
Allowance for Credit Losses 0 0    
Unrealized Appreciation 21 36    
Unrealized Depreciation (85) (64)    
Fair Value 2,311 2,371    
Foreign corporate securities        
Fixed maturity securities - available for sale        
Amortized Cost 8,040 7,535    
Allowance for Credit Losses 0 0    
Unrealized Appreciation 132 253    
Unrealized Depreciation (201) (135)    
Fair Value 7,970 7,653    
Fixed maturity securities – held to maturity        
Amortized Cost 83 79    
Allowance for Credit Losses (1) (1) $ (1) $ (1)
Unrealized Appreciation 6 6    
Unrealized Depreciation 0 0    
Fair Value $ 88 84    
Mortgage-backed securities, Commercial        
Fixed maturity securities – held to maturity        
Amortized Cost   0    
Allowance for Credit Losses   0    
Unrealized Appreciation   0    
Unrealized Depreciation   0    
Fair Value   $ 0