Investments in fixed maturity securities

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Investments in fixed maturity securities

Note 4. Investments in fixed maturity securities

Investments in fixed maturity securities are summarized as follows (in millions).

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
June 30, 2024
U.S. Treasury, U.S. government corporations and agencies	$	4,773	$	3	$	(13	)	$	4,763
Foreign governments		10,430		31		(42	)		10,419
Corporate bonds		1,180		211		(5	)		1,386
Other		220		17		(3	)		234
	$	16,603	$	262	$	(63	)	$	16,802
December 31, 2023
U.S. Treasury, U.S. government corporations and agencies	$	10,308	$	14	$	(53	)	$	10,269
Foreign governments		11,788		58		(41	)		11,805
Corporate bonds		1,212		241		(4	)		1,449
Other		217		21		(3	)		235
	$	23,525	$	334	$	(101	)	$	23,758

Notes to Consolidated Financial Statements

Note 4. Investments in fixed maturity securities

As of June 30, 2024, approximately 94% of our foreign government holdings were rated AA or higher by at least one of the major rating agencies. The amortized cost and estimated fair value of fixed maturity securities at June 30, 2024 are summarized below by contractual maturity dates (in millions). Actual maturities may differ from contractual maturities due to prepayment rights held by issuers.

	Due in one year or less		Due after one year through five years		Due after five years through ten years		Due after ten years		Mortgage- backed securities		Total
Amortized cost	$	11,002	$	4,754	$	577	$	129	$	141	$	16,603
Fair value		10,990		4,756		766		139		151		16,802