Fair Value Measurements - Level 3 Financial Instruments (Details) - Level 3 - Assets measured on recurring basis - USD ($)
$ in Millions |
3 Months Ended |
6 Months Ended |
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|
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|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
Mar. 31, 2026 |
Dec. 31, 2025 |
Mar. 31, 2025 |
Dec. 31, 2024 |
| Stabilizer |
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|
|
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|
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| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs |
$ (8)
|
$ (13)
|
$ (8)
|
$ (13)
|
$ (7)
|
|
$ (16)
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
0
|
4
|
|
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
0
|
0
|
|
|
|
|
|
|
| Purchases |
0
|
0
|
|
|
|
|
|
|
| Issues |
(1)
|
(1)
|
|
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Sales |
0
|
0
|
|
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements |
0
|
0
|
|
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers, Net |
0
|
0
|
|
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Transfers, Net |
0
|
0
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
0
|
0
|
|
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
0
|
0
|
|
|
|
|
|
|
| Short-term investments and cash equivalents |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
|
20
|
|
19
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
|
0
|
|
0
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
|
1
|
|
2
|
|
|
|
|
| Purchases |
|
0
|
|
0
|
|
|
|
|
| Issuances |
|
0
|
|
0
|
|
|
|
|
| Sales |
|
0
|
|
0
|
|
|
|
|
| Settlements |
|
0
|
|
0
|
|
|
|
|
| Transfers in to Level 3 |
|
0
|
|
0
|
|
|
|
|
| Transfers out of Level 3 |
|
0
|
|
0
|
|
|
|
|
| Fair Value, assets, ending balance |
|
21
|
|
21
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
|
0
|
|
0
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
|
1
|
|
2
|
|
|
|
|
| Fixed maturities |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
2,912
|
1,949
|
2,605
|
1,675
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
(2)
|
(25)
|
(7)
|
(44)
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
4
|
32
|
(32)
|
71
|
|
|
|
|
| Purchases |
479
|
222
|
881
|
516
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
(30)
|
(23)
|
(58)
|
(30)
|
|
|
|
|
| Settlements |
(135)
|
(95)
|
(222)
|
(121)
|
|
|
|
|
| Transfers in to Level 3 |
298
|
0
|
408
|
0
|
|
|
|
|
| Transfers out of Level 3 |
(50)
|
0
|
(99)
|
(7)
|
|
|
|
|
| Fair Value, assets, ending balance |
3,476
|
2,060
|
3,476
|
2,060
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
(3)
|
1
|
(4)
|
(16)
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
5
|
27
|
(28)
|
69
|
|
|
|
|
| Debt Security, Corporate, US |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
61
|
38
|
62
|
47
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
0
|
0
|
0
|
(1)
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
0
|
1
|
(1)
|
2
|
|
|
|
|
| Purchases |
0
|
0
|
0
|
1
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
0
|
0
|
0
|
(10)
|
|
|
|
|
| Settlements |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers in to Level 3 |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers out of Level 3 |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, assets, ending balance |
61
|
39
|
61
|
39
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
0
|
0
|
(1)
|
1
|
|
|
|
|
| Private Equity Funds, US |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
1,893
|
1,316
|
1,701
|
1,171
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
0
|
2
|
(2)
|
1
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
1
|
14
|
(24)
|
29
|
|
|
|
|
| Purchases |
322
|
90
|
557
|
240
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
(30)
|
(23)
|
(57)
|
(20)
|
|
|
|
|
| Settlements |
(83)
|
(82)
|
(160)
|
(104)
|
|
|
|
|
| Transfers in to Level 3 |
184
|
0
|
291
|
0
|
|
|
|
|
| Transfers out of Level 3 |
(29)
|
0
|
(48)
|
0
|
|
|
|
|
| Fair Value, assets, ending balance |
2,258
|
1,317
|
2,258
|
1,317
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
2
|
10
|
(22)
|
28
|
|
|
|
|
| Foreign corporate public securities and foreign governments |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
47
|
48
|
48
|
48
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
0
|
0
|
0
|
0
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
0
|
|
(2)
|
(1)
|
|
|
|
|
| Purchases |
0
|
0
|
0
|
1
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
0
|
0
|
0
|
0
|
|
|
|
|
| Settlements |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers in to Level 3 |
14
|
0
|
15
|
0
|
|
|
|
|
| Transfers out of Level 3 |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, assets, ending balance |
61
|
48
|
61
|
48
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
0
|
0
|
(1)
|
(1)
|
|
|
|
|
| Private Equity Funds, Non-US |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
586
|
472
|
493
|
341
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
1
|
(27)
|
0
|
(42)
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
(5)
|
17
|
(13)
|
41
|
|
|
|
|
| Purchases |
128
|
54
|
229
|
178
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
0
|
0
|
0
|
0
|
|
|
|
|
| Settlements |
(44)
|
(12)
|
(45)
|
(14)
|
|
|
|
|
| Transfers in to Level 3 |
100
|
0
|
102
|
0
|
|
|
|
|
| Transfers out of Level 3 |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, assets, ending balance |
766
|
504
|
766
|
504
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
0
|
1
|
0
|
(14)
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
(5)
|
17
|
(12)
|
41
|
|
|
|
|
| Residential mortgage-backed |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
67
|
61
|
61
|
54
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
(2)
|
0
|
(4)
|
(2)
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
0
|
0
|
0
|
0
|
|
|
|
|
| Purchases |
0
|
23
|
0
|
39
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
0
|
0
|
0
|
0
|
|
|
|
|
| Settlements |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers in to Level 3 |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers out of Level 3 |
(12)
|
0
|
(4)
|
(7)
|
|
|
|
|
| Fair Value, assets, ending balance |
53
|
84
|
53
|
84
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
(3)
|
0
|
(4)
|
(2)
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
0
|
0
|
0
|
0
|
|
|
|
|
| Other asset-backed securities |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
258
|
14
|
240
|
14
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
(1)
|
0
|
(1)
|
0
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
8
|
0
|
8
|
0
|
|
|
|
|
| Purchases |
29
|
55
|
95
|
57
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
0
|
0
|
(1)
|
0
|
|
|
|
|
| Settlements |
(8)
|
(1)
|
(17)
|
(3)
|
|
|
|
|
| Transfers in to Level 3 |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers out of Level 3 |
(9)
|
0
|
(47)
|
0
|
|
|
|
|
| Fair Value, assets, ending balance |
277
|
68
|
277
|
68
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
8
|
0
|
8
|
0
|
|
|
|
|
| Equity securities |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
44
|
64
|
51
|
56
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
1
|
0
|
1
|
2
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
0
|
0
|
0
|
0
|
|
|
|
|
| Purchases |
0
|
0
|
0
|
6
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
0
|
(13)
|
(7)
|
(13)
|
|
|
|
|
| Settlements |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers in to Level 3 |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers out of Level 3 |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, assets, ending balance |
45
|
51
|
45
|
51
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
1
|
0
|
1
|
2
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
0
|
0
|
0
|
0
|
|
|
|
|
| Assets held in separate accounts |
|
|
|
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, assets, beginning balance |
426
|
338
|
388
|
340
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in Net Income |
(1)
|
2
|
(5)
|
6
|
|
|
|
|
| Total Realized/Unrealized Gains (Losses) Included in OCI |
0
|
0
|
0
|
0
|
|
|
|
|
| Purchases |
34
|
13
|
72
|
21
|
|
|
|
|
| Issuances |
0
|
0
|
0
|
0
|
|
|
|
|
| Sales |
(18)
|
(3)
|
(25)
|
(17)
|
|
|
|
|
| Settlements |
0
|
0
|
0
|
0
|
|
|
|
|
| Transfers in to Level 3 |
12
|
0
|
24
|
0
|
|
|
|
|
| Transfers out of Level 3 |
(7)
|
(3)
|
(8)
|
(3)
|
|
|
|
|
| Fair Value, assets, ending balance |
446
|
347
|
446
|
347
|
|
|
|
|
| Change in Unrealized Gains (Losses) Included in Earnings |
0
|
0
|
0
|
0
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
0
|
0
|
0
|
0
|
|
|
|
|
| Stabilizer |
|
|
|
|
|
|
|
|
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value |
$ (8)
|
$ (13)
|
(8)
|
(13)
|
|
$ (5)
|
|
$ (19)
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings |
|
|
(2)
|
7
|
|
|
|
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Other Comprehensive Income (Loss) |
|
|
0
|
0
|
|
|
|
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases |
|
|
0
|
0
|
|
|
|
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances |
|
|
(1)
|
(1)
|
|
|
|
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales |
|
|
0
|
0
|
|
|
|
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements |
|
|
0
|
0
|
|
|
|
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 |
|
|
0
|
0
|
|
|
|
|
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers out of Level 3 |
|
|
0
|
0
|
|
|
|
|
| Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss) |
|
|
0
|
0
|
|
|
|
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] |
|
|
|
|
|
|
|
|
| Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss), OCI |
|
|
$ 0
|
$ 0
|
|
|
|
|