v3.26.3
FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation for All Levels (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Total gains and (losses), realized and unrealized, included in:        
Subtotal     $ (26)  
Transfers into level 3     736 $ 63
Transfers out of level 3     (589) (614)
Corporate | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period $ 2,967 $ 2,009 2,496 2,419
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) 2 1 6 4
Investment gains (losses), net (3) 2 (23) (1)
Subtotal (1) 3 (17) 3
Other comprehensive income (loss) (52) 3 (73) 30
Purchases 411 514 2,076 938
Debt issuances 0   0 0
Sales (147) (336) (1,225) (726)
Settlements 0 0 0 0
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 11 33 13
Transfers out of level 3 (22) 87 (134) (386)
Balance, end of period 3,156 2,291 3,156 2,291
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (48) (1) (83) 21
Asset-backed | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 2,747 936 1,545 285
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) 0 (1) 0 (1)
Investment gains (losses), net (6) 0 (10) 0
Subtotal (6) (1) (10) (1)
Other comprehensive income (loss) (82) 6 (104) 12
Purchases 605 400 1,632 1,184
Debt issuances 0   0 0
Sales (166) (35) (521) (168)
Settlements 0 0 0 0
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 (45) 0 677 0
Transfers out of level 3 0 (55) (166) (61)
Balance, end of period 3,053 1,251 3,053 1,251
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (82) 7 (104) 10
CMBS | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 60 19 38 8
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Subtotal 0 0 0 0
Other comprehensive income (loss) (1) 0 (2) 1
Purchases 0 17 23 28
Debt issuances 0   0 0
Sales 0 0 0 (5)
Settlements 0 0 0 0
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 (4) 0 0
Transfers out of level 3 0 0 0 0
Balance, end of period 59 32 59 32
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (1) 0 (2) 0
Fixed maturities, at FVO | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 203 410 459 275
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) (39) 2 (25) 3
Investment gains (losses), net 0 0 (1) (4)
Subtotal (39) 2   (1)
Other comprehensive income (loss) 0 0 0 0
Purchases 95 52 131 251
Debt issuances 0 0 0 0
Sales (24) (27) (40) (68)
Settlements 0 0 0 0
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 (48) (49) 23 46
Transfers out of level 3 139 (10) (221) (125)
Balance, end of period 326 378 326 378
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (1) 3 13 2
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Mortgage loans, at FVO | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 71   50  
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) 0   0  
Investment gains (losses), net 0   (4)  
Subtotal 0   (4)  
Other comprehensive income (loss) 0   0  
Purchases 0   25  
Debt issuances 0   0  
Sales 0   0  
Settlements 0   0  
Change in fair value of Modco payable 0   0  
Other 0   0  
Activity related to consolidated VIEs/VOEs 0   0  
Transfers into level 3 0   0  
Transfers out of level 3 0   0  
Balance, end of period 71   71  
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0   0  
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0   0  
Other equity investments | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 19 13 18 55
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) (1) 1 11 2
Investment gains (losses), net 11 0   0
Subtotal 10 1 11 2
Other comprehensive income (loss) 0 0 0 0
Purchases 6 3 17 17
Debt issuances 0 0 0 0
Sales (2) (3) (13) (19)
Settlements 0 0 0 0
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 (32) 0 31
Transfers into level 3 0 2 0 4
Transfers out of level 3 0 0 0 (42)
Balance, end of period 33 48 33 48
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 11 1 11 2
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Trading Securities, at Fair Value | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 393 127 286 80
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) (2) 0 (4) 0
Investment gains (losses), net 0 0 3 0
Subtotal (2) 0 (1) 0
Other comprehensive income (loss) 0 0 0 0
Purchases 40 72 160 119
Debt issuances 0 0 0 0
Sales (3) 0 (18) 0
Settlements 0 0 0 0
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 1 0 3 0
Transfers out of level 3 1 0 0 0
Balance, end of period 430 199 430 199
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Short-term investments | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period     68  
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss)     0  
Investment gains (losses), net     0  
Subtotal     0  
Other comprehensive income (loss)     0  
Purchases     0  
Debt issuances     0  
Sales     0  
Settlements     0  
Change in fair value of Modco payable     0  
Other     0  
Activity related to consolidated VIEs/VOEs     0  
Transfers into level 3     0  
Transfers out of level 3     (68)  
Balance, end of period 0   0  
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period     0  
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period     0  
Modco Payable | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 3 0 (1)  
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) 0 0 0  
Investment gains (losses), net 0 0 0  
Subtotal 0 0 0  
Other comprehensive income (loss) 0 0 0  
Purchases 0 0 0  
Debt issuances 0 0 0  
Sales 0 0 0  
Settlements 0 0 0  
Change in fair value of Modco payable 4 (2) 8  
Other 0 0 0  
Activity related to consolidated VIEs/VOEs 0 0 0  
Transfers into level 3 0 0 0  
Transfers out of level 3 0 0 0  
Balance, end of period 7 (2) 7 (2)
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0  
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0  
Notes issued by consolidated VIEs | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period (321) (158) (254) (172)
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Subtotal 0 0 0 0
Other comprehensive income (loss) 0 0 0 0
Purchases 0 0 0 0
Debt issuances (7) (57) (79) (60)
Sales 0 0 0 0
Settlements 17 (3) (22) (20)
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 0
Balance, end of period (311) (212) (311) (212)
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Contingent Payment Arrangement | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period (9) (8) (9) (9)
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Subtotal 0   0 0
Other comprehensive income (loss) 0 0 0 0
Purchases 0 0 0 0
Debt issuances 0 0 0 0
Sales 0 0 0 0
Settlements 0 (1) 0 0
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 0 0 0 0
Balance, end of period (9) (9) (9) (9)
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period 0 0 0 0
Residential mortgage-backed | Level 3        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 22 31 0 0
Total gains and (losses), realized and unrealized, included in:        
Net investment income (loss) 0 0 0 0
Investment gains (losses), net 0 0 0 0
Subtotal 0 0 0 0
Other comprehensive income (loss) 0 (1) 0 0
Purchases 0 41 22 55
Debt issuances 0   0 0
Sales 0 0 0 0
Settlements 0 3 0 0
Change in fair value of Modco payable 0 0 0 0
Other 0 0 0 0
Activity related to consolidated VIEs/VOEs 0 0 0 0
Transfers into level 3 0 0 0 0
Transfers out of level 3 (22) (19) (22) 0
Balance, end of period 0 55 0 55
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period 0 0 0 0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period $ 0 $ (1) $ 0 $ 1