Investments in fixed maturity securities

3 Months Ended

Mar. 31, 2020

Investments Debt And Equity Securities [Abstract]

Investments in fixed maturity securities

Note 3. Investments in fixed maturity securities

Investments in fixed maturity securities as of March 31, 2020 and December 31, 2019 are summarized by type below (in millions).

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
March 31, 2020
U.S. Treasury, U.S. government corporations and agencies	$	3,314	$	85	$	—		$	3,399
Foreign governments		8,126		75		(47	)		8,154
Corporate bonds		5,536		317		(67	)		5,786
Other		515		72		(3	)		584
	$	17,491	$	549	$	(117	)	$	17,923
December 31, 2019
U.S. Treasury, U.S. government corporations and agencies	$	3,054	$	37	$	(1	)	$	3,090
Foreign governments		8,584		63		(9	)		8,638
Corporate bonds		5,896		459		(3	)		6,352
Other		539		67		(1	)		605
	$	18,073	$	626	$	(14	)	$	18,685

Investments in foreign governments include securities issued by national and provincial government entities as well as instruments that are unconditionally guaranteed by such entities. As of March 31, 2020, approximately 88% 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 March 31, 2020 are summarized below by contractual maturity dates (in millions). Actual maturities may differ from contractual maturities due to early call or 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	$	6,774	$	9,579	$	332	$	425	$	381	$	17,491
Fair value		6,761		9,667		365		685		445		17,923