Fair Value Measurements - Changes in level 3 recurring fair value measurements, assets (Details) - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
Dec. 31, 2025 |
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
$ 32,403
|
$ 32,695
|
$ 33,640
|
$ 32,202
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
22
|
218
|
(12)
|
409
|
|
| Other Comprehensive Income (Loss) |
(51)
|
105
|
(286)
|
447
|
|
| Purchases, Sales, Issuances and Settlements, Net |
127
|
(166)
|
542
|
853
|
|
| Gross Transfers In |
1,676
|
554
|
1,964
|
1,169
|
|
| Gross Transfers Out |
(10,609)
|
(888)
|
(12,280)
|
(2,562)
|
|
| Other |
(3)
|
0
|
(3)
|
0
|
|
| Fair Value End of Period |
23,565
|
32,518
|
$ 23,565
|
$ 32,518
|
|
| Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |
|
|
Total net realized losses
|
Total net realized losses
|
|
| Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] |
|
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(3)
|
21
|
$ (43)
|
$ 35
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(48)
|
61
|
$ (293)
|
$ 323
|
|
| Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |
|
|
Total net realized losses
|
Total net realized losses
|
|
| Market risk benefit assets, at fair value |
2,492
|
|
$ 2,492
|
|
$ 2,392
|
| Level 3 |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Market risk benefit assets, at fair value |
2,492
|
1,300
|
2,492
|
$ 1,300
|
$ 2,392
|
| Bonds available-for-sale |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
29,431
|
29,701
|
30,533
|
28,973
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
29
|
204
|
34
|
372
|
|
| Other Comprehensive Income (Loss) |
(47)
|
71
|
(273)
|
394
|
|
| Purchases, Sales, Issuances and Settlements, Net |
168
|
(178)
|
652
|
885
|
|
| Gross Transfers In |
1,273
|
555
|
1,560
|
1,162
|
|
| Gross Transfers Out |
(10,221)
|
(888)
|
(11,873)
|
(2,321)
|
|
| Other |
(3)
|
0
|
(3)
|
0
|
|
| Fair Value End of Period |
20,630
|
29,465
|
20,630
|
29,465
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(48)
|
61
|
(293)
|
323
|
|
| Bonds available-for-sale | Obligations of states, municipalities and political subdivisions |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
745
|
782
|
761
|
745
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
(1)
|
(3)
|
(1)
|
|
| Other Comprehensive Income (Loss) |
2
|
(17)
|
(1)
|
(3)
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
(3)
|
(10)
|
(4)
|
|
| Gross Transfers In |
0
|
0
|
0
|
24
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
747
|
761
|
747
|
761
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
1
|
(22)
|
(8)
|
(15)
|
|
| Bonds available-for-sale | Corporate debt |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
699
|
1,084
|
681
|
1,834
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
(1)
|
(11)
|
(5)
|
|
| Other Comprehensive Income (Loss) |
(6)
|
10
|
(14)
|
34
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(43)
|
(35)
|
(45)
|
70
|
|
| Gross Transfers In |
387
|
4
|
596
|
337
|
|
| Gross Transfers Out |
(219)
|
(629)
|
(389)
|
(1,837)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
818
|
433
|
818
|
433
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(8)
|
5
|
(16)
|
17
|
|
| Bonds available-for-sale | RMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
5,167
|
6,204
|
5,855
|
6,045
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
14
|
65
|
33
|
123
|
|
| Other Comprehensive Income (Loss) |
19
|
(19)
|
(40)
|
64
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(192)
|
(203)
|
6
|
(149)
|
|
| Gross Transfers In |
62
|
22
|
64
|
80
|
|
| Gross Transfers Out |
(2,077)
|
(81)
|
(2,925)
|
(175)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
2,993
|
5,988
|
2,993
|
5,988
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
21
|
(9)
|
(38)
|
74
|
|
| Bonds available-for-sale | CMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
716
|
704
|
744
|
621
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
3
|
5
|
7
|
10
|
|
| Other Comprehensive Income (Loss) |
7
|
4
|
12
|
22
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(24)
|
(12)
|
(77)
|
(20)
|
|
| Gross Transfers In |
1
|
91
|
17
|
159
|
|
| Gross Transfers Out |
(213)
|
0
|
(213)
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
490
|
792
|
490
|
792
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
5
|
2
|
7
|
19
|
|
| Bonds available-for-sale | CLO |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,998
|
2,159
|
2,055
|
2,162
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
9
|
(1)
|
16
|
|
| Other Comprehensive Income (Loss) |
11
|
3
|
(31)
|
5
|
|
| Purchases, Sales, Issuances and Settlements, Net |
269
|
(19)
|
365
|
62
|
|
| Gross Transfers In |
0
|
2
|
15
|
2
|
|
| Gross Transfers Out |
(39)
|
(167)
|
(164)
|
(260)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
2,239
|
1,987
|
2,239
|
1,987
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
11
|
3
|
(31)
|
6
|
|
| Bonds available-for-sale | ABS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
20,106
|
18,768
|
20,437
|
17,566
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
12
|
127
|
9
|
229
|
|
| Other Comprehensive Income (Loss) |
(80)
|
90
|
(199)
|
272
|
|
| Purchases, Sales, Issuances and Settlements, Net |
158
|
94
|
413
|
926
|
|
| Gross Transfers In |
823
|
436
|
868
|
560
|
|
| Gross Transfers Out |
(7,673)
|
(11)
|
(8,182)
|
(49)
|
|
| Other |
(3)
|
0
|
(3)
|
0
|
|
| Fair Value End of Period |
13,343
|
19,504
|
13,343
|
19,504
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(78)
|
82
|
(207)
|
222
|
|
| Other bond securities |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,446
|
1,320
|
1,540
|
1,541
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(12)
|
9
|
(26)
|
28
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(28)
|
22
|
(90)
|
(25)
|
|
| Gross Transfers In |
403
|
(1)
|
404
|
7
|
|
| Gross Transfers Out |
(388)
|
0
|
(407)
|
(201)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
1,421
|
1,350
|
1,421
|
1,350
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(8)
|
1
|
(23)
|
10
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | Obligations of states, municipalities and political subdivisions |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1
|
1
|
1
|
1
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
0
|
0
|
0
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
0
|
0
|
0
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
1
|
1
|
1
|
1
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | Corporate debt |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
207
|
14
|
205
|
209
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(5)
|
1
|
(7)
|
(2)
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
2
|
(1)
|
6
|
(14)
|
|
| Gross Transfers In |
403
|
(1)
|
403
|
7
|
|
| Gross Transfers Out |
0
|
0
|
0
|
(187)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
607
|
13
|
607
|
13
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(2)
|
0
|
(4)
|
(2)
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | RMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
66
|
89
|
87
|
98
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
2
|
0
|
1
|
3
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
2
|
(1)
|
1
|
(5)
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
(29)
|
0
|
(48)
|
(8)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
41
|
88
|
41
|
88
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
3
|
1
|
3
|
3
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | CMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
7
|
16
|
16
|
14
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
0
|
1
|
2
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
0
|
(10)
|
0
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
7
|
16
|
7
|
16
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
0
|
1
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | CLO |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
33
|
52
|
43
|
59
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(1)
|
(1)
|
(12)
|
0
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
6
|
0
|
4
|
|
| Gross Transfers In |
0
|
0
|
1
|
0
|
|
| Gross Transfers Out |
(1)
|
0
|
(1)
|
(6)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
31
|
57
|
31
|
57
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(2)
|
(1)
|
(12)
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other bond securities | ABS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,132
|
1,148
|
1,188
|
1,160
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(8)
|
9
|
(9)
|
25
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(32)
|
18
|
(87)
|
(10)
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
(358)
|
0
|
(358)
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
734
|
1,175
|
734
|
1,175
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(7)
|
1
|
(10)
|
8
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Equity securities |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
49
|
41
|
69
|
41
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(1)
|
0
|
(21)
|
0
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(6)
|
0
|
(6)
|
0
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
42
|
41
|
42
|
41
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
0
|
(19)
|
0
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
0
|
0
|
0
|
0
|
|
| Other invested assets |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,477
|
1,633
|
1,498
|
1,647
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
6
|
5
|
1
|
9
|
|
| Other Comprehensive Income (Loss) |
(4)
|
34
|
(13)
|
53
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(7)
|
(10)
|
(14)
|
(7)
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
(40)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
1,472
|
1,662
|
1,472
|
1,662
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
5
|
20
|
(1)
|
25
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
$ 0
|
$ 0
|
$ 0
|
$ 0
|
|