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Investments (Tables)
12 Months Ended
Dec. 31, 2022
Investments [Abstract]  
Current And Long-term Fixed Maturity Securities, Available-for-sale A summary of current and long-term fixed maturity securities, available-for-sale, at December 31, 2022 and 2021 is as follows:
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance For Credit LossesEstimated
Fair Value
 
December 31, 2022
Fixed maturity securities:
United States Government securities$1,502 $$(103)$— $1,401 
Government sponsored securities82 (5)— 78 
Foreign government securities321 (46)(2)274 
States, municipalities and political subdivisions, tax-exempt4,389 19 (265)— 4,143 
Corporate securities13,721 31 (1,218)(5)12,529 
Residential mortgage-backed securities2,978 (324)— 2,663 
Commercial mortgage-backed securities
2,055 (176)(2)1,878 
 Other asset-backed securities3,967 12 (241)— 3,738 
Total fixed maturity securities$29,015 $76 $(2,378)$(9)$26,704 
December 31, 2021
Fixed maturity securities:
United States Government securities$1,443 $$(18)$— $1,432 
Government sponsored securities65 (1)— 68 
Foreign government securities353 (13)— 347 
States, municipalities and political subdivisions, tax-exempt
5,321 310 (10)— 5,621 
Corporate securities12,044 401 (78)(4)12,363 
Residential mortgage-backed securities2,492 48 (22)— 2,518 
Commercial mortgage-backed securities
1,632 29 (16)(2)1,643 
Other asset-backed securities2,907 24 (24)— 2,907 
Total fixed maturity securities$26,257 $830 $(182)$(6)$26,899 
Aggregate Fair Values And Gross Unrealized Losses For Fixed Maturity Securities In An Unrealized Loss Position For fixed maturity securities in an unrealized loss position at December 31, 2022 and 2021, the following table summarizes the aggregate fair values and gross unrealized losses by length of time those securities have continuously been in an unrealized loss position.
 Less than 12 Months12 Months or Greater
 Number of
Securities
Estimated
Fair Value
Gross
Unrealized
Loss
Number of
Securities
Estimated
Fair Value
Gross
Unrealized
Loss
(Securities are whole amounts)      
December 31, 2022
Fixed maturity securities:
United States Government securities61 $701 $(40)38 $442 $(63)
Government sponsored securities39 73 (4)(1)
Foreign government securities150 100 (10)198 142 (36)
States, municipalities and political subdivisions, tax-exempt
1,398 2,615 (147)396 652 (118)
Corporate securities3,551 7,826 (549)2,204 3,521 (669)
Residential mortgage-backed securities1,341 1,435 (121)496 982 (203)
Commercial mortgage-backed securities457 1,082 (76)324 719 (100)
Other asset-backed securities784 2,203 (124)398 1,074 (117)
Total fixed maturity securities7,781 $16,035 $(1,071)4,060 $7,537 $(1,307)
December 31, 2021
Fixed maturity securities:
United States Government securities
51 $990 $(11)27 $176 $(7)
Government sponsored securities
— — — (1)
Foreign government securities188 143 (8)68 41 (5)
States, municipalities and political subdivisions, tax-exempt
281 634 (9)16 (1)
Corporate securities
1,846 3,310 (57)403 485 (21)
Residential mortgage-backed securities
422 1,295 (19)63 44 (3)
Commercial mortgage-backed securities
272 676 (8)66 137 (8)
Other asset-backed securities511 1,707 (19)50 85 (5)
Total fixed maturity securities3,571 $8,755 $(131)686 $985 $(51)
Amortized Cost And Fair Value Of Fixed Maturity Securities, By Contractual Maturity
The amortized cost and fair value of fixed maturity securities at December 31, 2022, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations.
Amortized
Cost
Estimated
Fair Value
Due in one year or less$726 $720 
Due after one year through five years7,489 7,095 
Due after five years through ten years9,512 8,703 
Due after ten years6,255 5,645 
Mortgage-backed securities5,033 4,541 
Total fixed maturity securities$29,015 $26,704 
Investments in Equity Securities
A summary of current equity securities at December 31, 2022 and 2021 is as follows:
December 31, 2022December 31, 2021
Equity Securities:
Exchange traded funds$822 $1,750 
Common equity securities43 42 
Private equity securities88 89 
Total$953 $1,881 
Major Categories Of Net Investment Income
The major categories of net investment income for the years ended December 31, 2022, 2021 and 2020 are as follows:
202220212020
Fixed maturity securities$971 $755 $725 
Equity securities48 43 71 
Cash equivalents77 28 
Other invested assets432 616 91 
Investment income1,528 1,419 915 
Investment expenses(43)(41)(38)
Net investment income$1,485 $1,378 $877 
Net Investment Gains/Losses
Net investment (losses) gains for the years ended December 31, 2022, 2021 and 2020 are as follows:
202220212020
Net gains (losses):
Fixed maturity securities:
Gross realized gains from sales$52 $170 $175 
Gross realized losses from sales(469)(44)(105)
Impairment (losses) recoveries recognized in income(31)(7)
Net realized gains on fixed maturity securities(448)127 63 
Equity securities:
Unrealized (losses) gains recognized on equity securities still held(78)133 
Net realized (losses) gains recognized on equity securities sold(102)(73)61 
Net (losses) gains on equity securities(180)(71)194 
Other investments:
Gross gains96 293 18 
Gross losses(64)(22)— 
Impairment losses recognized in income(34)(16)(91)
Net (losses) gains on other investments(2)255 (73)
Net (losses) gains on investments$(630)$311 $184