Fair Value Measurements - Changes in level 3 recurring fair value measurements, assets (Details) - USD ($)
$ in Millions |
3 Months Ended |
9 Months Ended |
|
Sep. 30, 2026 |
Sep. 30, 2025 |
Sep. 30, 2026 |
Sep. 30, 2025 |
Dec. 31, 2025 |
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
$ 23,565
|
$ 32,518
|
$ 33,640
|
$ 32,202
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
4
|
(18)
|
(8)
|
391
|
|
| Other Comprehensive Income (Loss) |
(512)
|
171
|
(798)
|
618
|
|
| Purchases, Sales, Issuances and Settlements, Net |
517
|
(180)
|
1,059
|
673
|
|
| Gross Transfers In |
2,248
|
1,014
|
4,212
|
2,183
|
|
| Gross Transfers Out |
(1,082)
|
(751)
|
(13,362)
|
(3,313)
|
|
| Other |
0
|
0
|
(3)
|
0
|
|
| Fair Value End of Period |
24,740
|
32,754
|
$ 24,740
|
$ 32,754
|
|
| Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |
|
|
Total net realized gains (losses)
|
Total net realized gains (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 |
(40)
|
(1)
|
$ (83)
|
$ 36
|
|
| Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period |
(454)
|
146
|
$ (747)
|
$ 442
|
|
| Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] |
|
|
Total net realized gains (losses)
|
Total net realized gains (losses)
|
|
| Market risk benefit assets, at fair value |
2,348
|
|
$ 2,348
|
|
$ 2,392
|
| Level 3 |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Market risk benefit assets, at fair value |
2,348
|
2,500
|
2,348
|
$ 2,500
|
$ 2,392
|
| Bonds available-for-sale |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
20,630
|
29,465
|
30,533
|
28,973
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
36
|
(22)
|
70
|
350
|
|
| Other Comprehensive Income (Loss) |
(509)
|
178
|
(782)
|
572
|
|
| Purchases, Sales, Issuances and Settlements, Net |
513
|
(49)
|
1,165
|
836
|
|
| Gross Transfers In |
2,171
|
812
|
3,731
|
1,974
|
|
| Gross Transfers Out |
(1,037)
|
(744)
|
(12,910)
|
(3,065)
|
|
| Other |
0
|
0
|
(3)
|
0
|
|
| Fair Value End of Period |
21,804
|
29,640
|
21,804
|
29,640
|
|
| 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 |
(454)
|
146
|
(747)
|
442
|
|
| 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 |
747
|
761
|
761
|
745
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
(2)
|
(3)
|
(3)
|
|
| Other Comprehensive Income (Loss) |
(68)
|
18
|
(69)
|
15
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
0
|
(10)
|
(4)
|
|
| Gross Transfers In |
0
|
1
|
0
|
25
|
|
| Gross Transfers Out |
(2)
|
0
|
(2)
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
677
|
778
|
677
|
778
|
|
| 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 |
(68)
|
8
|
(76)
|
(3)
|
|
| Bonds available-for-sale | Corporate debt |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
818
|
433
|
681
|
1,834
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
1
|
(31)
|
(10)
|
(36)
|
|
| Other Comprehensive Income (Loss) |
(13)
|
(15)
|
(27)
|
19
|
|
| Purchases, Sales, Issuances and Settlements, Net |
49
|
59
|
4
|
129
|
|
| Gross Transfers In |
154
|
147
|
750
|
484
|
|
| Gross Transfers Out |
(96)
|
(173)
|
(485)
|
(2,010)
|
|
| Other |
(26)
|
0
|
(26)
|
0
|
|
| Fair Value End of Period |
887
|
420
|
887
|
420
|
|
| 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 |
(16)
|
(16)
|
(32)
|
(7)
|
|
| Bonds available-for-sale | RMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
2,993
|
5,988
|
5,855
|
6,045
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
42
|
26
|
75
|
149
|
|
| Other Comprehensive Income (Loss) |
(182)
|
22
|
(222)
|
86
|
|
| Purchases, Sales, Issuances and Settlements, Net |
240
|
(80)
|
246
|
(229)
|
|
| Gross Transfers In |
457
|
0
|
521
|
80
|
|
| Gross Transfers Out |
(361)
|
(2)
|
(3,286)
|
(177)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
3,189
|
5,954
|
3,189
|
5,954
|
|
| 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 |
(147)
|
22
|
(185)
|
94
|
|
| Bonds available-for-sale | CMBS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
490
|
792
|
744
|
621
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
5
|
9
|
12
|
19
|
|
| Other Comprehensive Income (Loss) |
(27)
|
11
|
(15)
|
33
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(10)
|
(114)
|
(87)
|
(134)
|
|
| Gross Transfers In |
191
|
64
|
208
|
223
|
|
| Gross Transfers Out |
(26)
|
0
|
(239)
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
623
|
762
|
623
|
762
|
|
| 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 |
(26)
|
16
|
(19)
|
35
|
|
| Bonds available-for-sale | CLO |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
2,239
|
1,987
|
2,055
|
2,162
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
4
|
(1)
|
20
|
|
| Other Comprehensive Income (Loss) |
(2)
|
(13)
|
(33)
|
(8)
|
|
| Purchases, Sales, Issuances and Settlements, Net |
25
|
228
|
390
|
290
|
|
| Gross Transfers In |
0
|
5
|
15
|
7
|
|
| Gross Transfers Out |
(193)
|
(100)
|
(357)
|
(360)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
2,069
|
2,111
|
2,069
|
2,111
|
|
| 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)
|
(14)
|
(32)
|
(8)
|
|
| Bonds available-for-sale | ABS |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
13,343
|
19,504
|
20,437
|
17,566
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(12)
|
(28)
|
(3)
|
201
|
|
| Other Comprehensive Income (Loss) |
(217)
|
155
|
(416)
|
427
|
|
| Purchases, Sales, Issuances and Settlements, Net |
209
|
(142)
|
622
|
784
|
|
| Gross Transfers In |
1,369
|
595
|
2,237
|
1,155
|
|
| Gross Transfers Out |
(359)
|
(469)
|
(8,541)
|
(518)
|
|
| Other |
26
|
0
|
23
|
0
|
|
| Fair Value End of Period |
14,359
|
19,615
|
14,359
|
19,615
|
|
| 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 |
(196)
|
130
|
(403)
|
331
|
|
| Other bond securities |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
1,421
|
1,350
|
1,540
|
1,541
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(37)
|
13
|
(63)
|
41
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
104
|
(25)
|
14
|
(50)
|
|
| Gross Transfers In |
77
|
194
|
481
|
201
|
|
| Gross Transfers Out |
(45)
|
(7)
|
(452)
|
(208)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
1,520
|
1,525
|
1,520
|
1,525
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(40)
|
8
|
(63)
|
20
|
|
| 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 |
607
|
13
|
205
|
209
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(8)
|
0
|
(15)
|
(2)
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(13)
|
0
|
(7)
|
(14)
|
|
| Gross Transfers In |
0
|
192
|
403
|
199
|
|
| Gross Transfers Out |
0
|
0
|
0
|
(187)
|
|
| Other |
(9)
|
0
|
(9)
|
0
|
|
| Fair Value End of Period |
577
|
205
|
577
|
205
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(7)
|
0
|
(11)
|
(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 |
41
|
88
|
87
|
98
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(2)
|
2
|
(1)
|
5
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
(2)
|
1
|
(7)
|
|
| Gross Transfers In |
7
|
0
|
7
|
0
|
|
| Gross Transfers Out |
(2)
|
0
|
(50)
|
(8)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
44
|
88
|
44
|
88
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(2)
|
2
|
1
|
5
|
|
| 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 |
(1)
|
0
|
(1)
|
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 | CLO |
|
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
|
| Fair Value Beginning of Year |
31
|
57
|
43
|
59
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(2)
|
(1)
|
(14)
|
(1)
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
9
|
3
|
9
|
7
|
|
| Gross Transfers In |
0
|
0
|
1
|
0
|
|
| Gross Transfers Out |
0
|
(7)
|
(1)
|
(13)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
38
|
52
|
38
|
52
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(4)
|
(5)
|
(16)
|
(5)
|
|
| 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 |
734
|
1,175
|
1,188
|
1,160
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
(25)
|
12
|
(34)
|
37
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
108
|
(26)
|
21
|
(36)
|
|
| Gross Transfers In |
70
|
2
|
70
|
2
|
|
| Gross Transfers Out |
(43)
|
0
|
(401)
|
0
|
|
| Other |
9
|
0
|
9
|
0
|
|
| Fair Value End of Period |
853
|
1,163
|
853
|
1,163
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
(26)
|
11
|
(36)
|
20
|
|
| 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 |
42
|
41
|
69
|
41
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
0
|
11
|
(21)
|
11
|
|
| Other Comprehensive Income (Loss) |
0
|
0
|
0
|
0
|
|
| Purchases, Sales, Issuances and Settlements, Net |
0
|
1
|
(6)
|
1
|
|
| Gross Transfers In |
0
|
8
|
0
|
8
|
|
| Gross Transfers Out |
0
|
0
|
0
|
0
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
42
|
61
|
42
|
61
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
11
|
(19)
|
11
|
|
| 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 |
1,472
|
1,662
|
1,498
|
1,647
|
|
| Net Realized and Unrealized Gains (Losses) Included in Income |
5
|
(20)
|
6
|
(11)
|
|
| Other Comprehensive Income (Loss) |
(3)
|
(7)
|
(16)
|
46
|
|
| Purchases, Sales, Issuances and Settlements, Net |
(100)
|
(107)
|
(114)
|
(114)
|
|
| Gross Transfers In |
0
|
0
|
0
|
0
|
|
| Gross Transfers Out |
0
|
0
|
0
|
(40)
|
|
| Other |
0
|
0
|
0
|
0
|
|
| Fair Value End of Period |
1,374
|
1,528
|
1,374
|
1,528
|
|
| Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period |
0
|
(20)
|
(1)
|
5
|
|
| 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
|
|