FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Fair Value Hierarchy Measurements of Financial Instruments (Details) - USD ($)
|
Jun. 30, 2026 |
Dec. 31, 2025 |
Jun. 30, 2025 |
Dec. 31, 2024 |
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
$ 96,657,000,000
|
|
|
|
| Equity securities |
6,924,000,000
|
$ 7,972,000,000
|
|
|
| Investment real estate |
3,251,000,000
|
3,000,000,000
|
|
|
| Real estate partnerships |
4,949,000,000
|
4,241,000,000
|
|
|
| Investment funds |
12,421,000,000
|
8,962,000,000
|
|
|
| Short-term investments |
612,000,000
|
475,000,000
|
|
|
| Derivative assets |
171,000,000
|
63,000,000
|
|
|
| Cash and cash equivalents |
12,609,000,000
|
13,014,000,000
|
|
|
| Other assets – market risk benefit assets |
2,539,000,000
|
2,783,000,000
|
|
|
| Separate account assets |
874,000,000
|
822,000,000
|
|
|
| Liabilities |
|
|
|
|
| Policyholders’ account balances – embedded derivative |
6,645,000,000
|
6,488,000,000
|
|
|
| Market risk benefits |
4,751,000,000
|
4,536,000,000
|
|
|
| Derivative liabilities |
5,016,000,000
|
119,000,000
|
|
|
| Separate account liabilities |
874,000,000
|
822,000,000
|
$ 1,322,000,000
|
$ 1,343,000,000
|
| Equities without readily determinable fair values |
260,000,000
|
250,000,000
|
|
|
| Cost of equity securities |
6,500,000,000
|
6,700,000,000
|
|
|
| Amounts loaned under reverse repurchase agreements |
|
400,000,000
|
|
|
| Collateral fair value |
|
872,000,000
|
|
|
| Not subject to fair value hierarchy |
|
|
|
|
| Assets |
|
|
|
|
| Investment funds |
349,000,000
|
662,000,000
|
|
|
| Liabilities |
|
|
|
|
| Derivative asset collateral |
2,900,000,000
|
1,500,000,000
|
|
|
| Derivative liability collateral |
1,300,000,000
|
0
|
|
|
| Total Fair Value |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
96,657,000,000
|
64,209,000,000
|
|
|
| Equity securities |
6,664,000,000
|
7,714,000,000
|
|
|
| Investment real estate |
1,245,000,000
|
1,253,000,000
|
|
|
| Real estate partnerships |
2,399,000,000
|
2,385,000,000
|
|
|
| Investment funds |
150,000,000
|
152,000,000
|
|
|
| Short-term investments |
612,000,000
|
475,000,000
|
|
|
| Derivative assets |
3,065,000,000
|
1,611,000,000
|
|
|
| Separately managed accounts |
49,000,000
|
54,000,000
|
|
|
| Other |
575,000,000
|
407,000,000
|
|
|
| Cash and cash equivalents |
12,609,000,000
|
13,014,000,000
|
|
|
| Reinsurance funds withheld – embedded derivative |
56,000,000
|
48,000,000
|
|
|
| Premiums due and other receivables – derivative asset |
16,000,000
|
19,000,000
|
|
|
| Other assets – market risk benefit assets |
1,167,000,000
|
1,174,000,000
|
|
|
| Separate account assets |
874,000,000
|
822,000,000
|
|
|
| Total financial assets |
126,138,000,000
|
93,337,000,000
|
|
|
| Liabilities |
|
|
|
|
| Policyholders’ account balances – embedded derivative |
6,625,000,000
|
6,414,000,000
|
|
|
| Market risk benefits |
4,751,000,000
|
4,536,000,000
|
|
|
| Funds withheld for reinsurance liabilities – embedded derivative |
20,000,000
|
74,000,000
|
|
|
| Derivative liabilities |
1,847,000,000
|
37,000,000
|
|
|
| Separate account liabilities |
874,000,000
|
822,000,000
|
|
|
| Total financial liabilities |
14,117,000,000
|
11,883,000,000
|
|
|
| Other invested assets |
575,000,000
|
|
|
|
| Total Fair Value | U.S. treasury and government |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
327,000,000
|
360,000,000
|
|
|
| Total Fair Value | U.S. state and municipal |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
3,070,000,000
|
3,158,000,000
|
|
|
| Total Fair Value | Foreign governments |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
14,154,000,000
|
1,851,000,000
|
|
|
| Total Fair Value | Corporate debt securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
68,235,000,000
|
48,599,000,000
|
|
|
| Total Fair Value | Residential mortgage-backed securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
1,088,000,000
|
1,204,000,000
|
|
|
| Total Fair Value | Commercial mortgage-backed securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
3,827,000,000
|
3,738,000,000
|
|
|
| Total Fair Value | Collateralized debt securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
5,956,000,000
|
5,299,000,000
|
|
|
| Total Fair Value | Common stock |
|
|
|
|
| Assets |
|
|
|
|
| Equity securities |
6,123,000,000
|
7,222,000,000
|
|
|
| Total Fair Value | Preferred stock |
|
|
|
|
| Assets |
|
|
|
|
| Equity securities |
541,000,000
|
492,000,000
|
|
|
| Total Fair Value | Financial assets valued in accordance with ASC 825 |
|
|
|
|
| Assets |
|
|
|
|
| Real estate partnerships |
|
2,300,000,000
|
|
|
| Liabilities |
|
|
|
|
| Other invested assets |
|
407,000,000
|
|
|
| Level 1 |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
268,000,000
|
299,000,000
|
|
|
| Equity securities |
6,063,000,000
|
7,152,000,000
|
|
|
| Investment real estate |
0
|
0
|
|
|
| Real estate partnerships |
0
|
0
|
|
|
| Investment funds |
0
|
0
|
|
|
| Short-term investments |
96,000,000
|
1,000,000
|
|
|
| Derivative assets |
0
|
0
|
|
|
| Separately managed accounts |
0
|
0
|
|
|
| Other |
0
|
0
|
|
|
| Cash and cash equivalents |
12,609,000,000
|
13,014,000,000
|
|
|
| Reinsurance funds withheld – embedded derivative |
0
|
0
|
|
|
| Premiums due and other receivables – derivative asset |
0
|
0
|
|
|
| Other assets – market risk benefit assets |
0
|
0
|
|
|
| Separate account assets |
857,000,000
|
804,000,000
|
|
|
| Total financial assets |
19,893,000,000
|
21,270,000,000
|
|
|
| Liabilities |
|
|
|
|
| Policyholders’ account balances – embedded derivative |
0
|
0
|
|
|
| Market risk benefits |
0
|
0
|
|
|
| Funds withheld for reinsurance liabilities – embedded derivative |
0
|
0
|
|
|
| Derivative liabilities |
0
|
0
|
|
|
| Separate account liabilities |
857,000,000
|
804,000,000
|
|
|
| Total financial liabilities |
857,000,000
|
804,000,000
|
|
|
| Level 1 | U.S. treasury and government |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
268,000,000
|
299,000,000
|
|
|
| Level 1 | U.S. state and municipal |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
0
|
0
|
|
|
| Level 1 | Foreign governments |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
0
|
0
|
|
|
| Level 1 | Corporate debt securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
0
|
0
|
|
|
| Level 1 | Residential mortgage-backed securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
0
|
0
|
|
|
| Level 1 | Commercial mortgage-backed securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
0
|
0
|
|
|
| Level 1 | Collateralized debt securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
0
|
0
|
|
|
| Level 1 | Common stock |
|
|
|
|
| Assets |
|
|
|
|
| Equity securities |
6,028,000,000
|
7,132,000,000
|
|
|
| Level 1 | Preferred stock |
|
|
|
|
| Assets |
|
|
|
|
| Equity securities |
35,000,000
|
20,000,000
|
|
|
| Level 2 |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
89,103,000,000
|
59,697,000,000
|
|
|
| Equity securities |
45,000,000
|
65,000,000
|
|
|
| Investment real estate |
0
|
0
|
|
|
| Real estate partnerships |
0
|
0
|
|
|
| Investment funds |
0
|
0
|
|
|
| Short-term investments |
516,000,000
|
243,000,000
|
|
|
| Derivative assets |
2,872,000,000
|
1,408,000,000
|
|
|
| Separately managed accounts |
0
|
0
|
|
|
| Other |
0
|
0
|
|
|
| Cash and cash equivalents |
0
|
0
|
|
|
| Reinsurance funds withheld – embedded derivative |
0
|
0
|
|
|
| Premiums due and other receivables – derivative asset |
16,000,000
|
19,000,000
|
|
|
| Other assets – market risk benefit assets |
0
|
0
|
|
|
| Separate account assets |
17,000,000
|
18,000,000
|
|
|
| Total financial assets |
92,569,000,000
|
61,450,000,000
|
|
|
| Liabilities |
|
|
|
|
| Policyholders’ account balances – embedded derivative |
0
|
0
|
|
|
| Market risk benefits |
0
|
0
|
|
|
| Funds withheld for reinsurance liabilities – embedded derivative |
0
|
0
|
|
|
| Derivative liabilities |
1,847,000,000
|
37,000,000
|
|
|
| Separate account liabilities |
17,000,000
|
18,000,000
|
|
|
| Total financial liabilities |
1,864,000,000
|
55,000,000
|
|
|
| Level 2 | U.S. treasury and government |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
59,000,000
|
61,000,000
|
|
|
| Level 2 | U.S. state and municipal |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
3,070,000,000
|
3,158,000,000
|
|
|
| Level 2 | Foreign governments |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
14,103,000,000
|
1,829,000,000
|
|
|
| Level 2 | Corporate debt securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
65,309,000,000
|
47,317,000,000
|
|
|
| Level 2 | Residential mortgage-backed securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
1,070,000,000
|
1,185,000,000
|
|
|
| Level 2 | Commercial mortgage-backed securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
3,534,000,000
|
3,628,000,000
|
|
|
| Level 2 | Collateralized debt securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
1,958,000,000
|
2,519,000,000
|
|
|
| Level 2 | Common stock |
|
|
|
|
| Assets |
|
|
|
|
| Equity securities |
2,000,000
|
2,000,000
|
|
|
| Level 2 | Preferred stock |
|
|
|
|
| Assets |
|
|
|
|
| Equity securities |
43,000,000
|
63,000,000
|
|
|
| Level 3 |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
7,286,000,000
|
4,213,000,000
|
|
|
| Equity securities |
556,000,000
|
497,000,000
|
|
|
| Investment real estate |
1,245,000,000
|
1,253,000,000
|
|
|
| Real estate partnerships |
2,399,000,000
|
2,385,000,000
|
|
|
| Investment funds |
150,000,000
|
152,000,000
|
|
|
| Short-term investments |
0
|
231,000,000
|
|
|
| Derivative assets |
193,000,000
|
203,000,000
|
|
|
| Separately managed accounts |
49,000,000
|
54,000,000
|
|
|
| Other |
575,000,000
|
407,000,000
|
|
|
| Cash and cash equivalents |
0
|
0
|
|
|
| Reinsurance funds withheld – embedded derivative |
56,000,000
|
48,000,000
|
|
|
| Premiums due and other receivables – derivative asset |
0
|
0
|
|
|
| Other assets – market risk benefit assets |
1,167,000,000
|
1,174,000,000
|
|
|
| Separate account assets |
0
|
0
|
|
|
| Total financial assets |
13,676,000,000
|
10,617,000,000
|
|
|
| Liabilities |
|
|
|
|
| Policyholders’ account balances – embedded derivative |
6,625,000,000
|
6,414,000,000
|
|
|
| Market risk benefits |
4,751,000,000
|
4,536,000,000
|
|
|
| Funds withheld for reinsurance liabilities – embedded derivative |
20,000,000
|
74,000,000
|
|
|
| Derivative liabilities |
0
|
0
|
|
|
| Separate account liabilities |
0
|
0
|
|
|
| Total financial liabilities |
11,396,000,000
|
11,024,000,000
|
|
|
| Level 3 | U.S. treasury and government |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
0
|
0
|
|
|
| Level 3 | U.S. state and municipal |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
0
|
0
|
|
|
| Level 3 | Foreign governments |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
51,000,000
|
22,000,000
|
|
|
| Level 3 | Corporate debt securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
2,926,000,000
|
1,282,000,000
|
|
|
| Level 3 | Residential mortgage-backed securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
18,000,000
|
19,000,000
|
|
|
| Level 3 | Commercial mortgage-backed securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
293,000,000
|
110,000,000
|
|
|
| Level 3 | Collateralized debt securities |
|
|
|
|
| Assets |
|
|
|
|
| Available-for-sale fixed maturity securities |
3,998,000,000
|
2,780,000,000
|
|
|
| Level 3 | Common stock |
|
|
|
|
| Assets |
|
|
|
|
| Equity securities |
93,000,000
|
88,000,000
|
|
|
| Level 3 | Preferred stock |
|
|
|
|
| Assets |
|
|
|
|
| Equity securities |
$ 463,000,000
|
$ 409,000,000
|
|
|