XML 136 R120.htm IDEA: XBRL DOCUMENT v3.22.4
Fair Value Measurement - Quantitative Information - Assets (Details) - Level 3 - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Obligations of state and political subdivisions | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 47 $ 72
Obligations of state and political subdivisions | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 7.40% 4.40%
Obligations of state and political subdivisions | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 13.50% 24.50%
Obligations of state and political subdivisions | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 9.40% 6.20%
RMBS | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 179 $ 216
RMBS | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 7.50% 3.80%
RMBS | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 11.30% 5.60%
RMBS | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 9.00% 4.50%
Life insurance transactions | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 342  
Yield (as a percent) 11.30%  
CLO contracts | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 428 $ 458
Others | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 24 $ 38
Others | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 7.40% 3.20%
Others | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 12.90% 7.90%
Others | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 12.80% 7.90%
Financial Guarantee Variable Interest Entities | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 204 $ 260
Financial Guarantee Variable Interest Entities | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 6.60% 1.40%
Financial Guarantee Variable Interest Entities | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 10.90% 8.00%
Financial Guarantee Variable Interest Entities | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 7.50% 4.60%
Other | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 47 $ 23
Fair value inputs term 10 years 10 years
Other | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 7.70% 2.70%
Other | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 8.40% 3.30%
Other | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 8.10% 3.00%
Other invested assets | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 5 $ 6
Life insurance transactions | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value   $ 367
Yield (as a percent)   5.00%
Consolidated Investment Vehicles | Valuation, Income Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 297 $ 239
Yield (as a percent) 10.00% 7.70%
Consolidated Investment Vehicles | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 96  
Yield (as a percent) 16.30% 16.40%
Consolidated Investment Vehicles | Valuation, Income Approach | Structured products    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value $ 46  
Consolidated Investment Vehicles | Minimum | Valuation, Income Approach | Structured products    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 12.80%  
Consolidated Investment Vehicles | Maximum | Valuation, Income Approach | Structured products    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 37.10%  
Consolidated Investment Vehicles | Weighted Average | Valuation, Income Approach | Structured products    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 18.90%  
CPR | RMBS | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 3.80% 0.00%
CPR | RMBS | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 16.10% 22.70%
CPR | RMBS | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 8.20% 10.40%
CPR | Financial Guarantee Variable Interest Entities | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 0.90% 0.90%
CPR | Financial Guarantee Variable Interest Entities | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 21.90% 24.50%
CPR | Financial Guarantee Variable Interest Entities | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 12.90% 13.30%
CDR | RMBS | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 1.50% 1.40%
CDR | RMBS | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 12.00% 12.00%
CDR | RMBS | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 5.90% 5.90%
CDR | Financial Guarantee Variable Interest Entities | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 1.30% 1.40%
CDR | Financial Guarantee Variable Interest Entities | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 41.00% 26.90%
CDR | Financial Guarantee Variable Interest Entities | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 7.60% 7.60%
Loss severity | RMBS | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 50.00% 50.00%
Loss severity | RMBS | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 125.00% 125.00%
Loss severity | RMBS | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 82.50% 84.90%
Loss severity | Financial Guarantee Variable Interest Entities | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 45.00% 45.00%
Loss severity | Financial Guarantee Variable Interest Entities | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 100.00% 100.00%
Loss severity | Financial Guarantee Variable Interest Entities | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Conditional prepayment rate (as a percent) 81.00% 81.60%
Discount rate | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Asset, fair value   $ 91
Discount rate | Minimum | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent)   14.70%
Discount rate | Maximum | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent)   21.40%
Discount rate | Weighted Average | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent)   17.80%
Discount rate | CLO contracts | Minimum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 1.80% 0.00%
Discount rate | CLO contracts | Maximum | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 4.10% 2.90%
Discount rate | CLO contracts | Weighted Average | Valuation, Income Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 3.00% 1.80%
Discount rate | Consolidated Investment Vehicles | Minimum | Valuation, Income Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 19.80% 14.70%
Discount rate | Consolidated Investment Vehicles | Minimum | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 20.80%  
Discount rate | Consolidated Investment Vehicles | Maximum | Valuation, Income Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 25.10% 23.90%
Discount rate | Consolidated Investment Vehicles | Maximum | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 23.80%  
Discount rate | Consolidated Investment Vehicles | Weighted Average | Valuation, Income Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 22.70% 21.60%
Discount rate | Consolidated Investment Vehicles | Weighted Average | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 21.70%  
Multiple enterprise/revenue value | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple-enterprise value/revenue   1.10
Multiple enterprise/revenue value | Consolidated Investment Vehicles | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple-price to book   185.00%
Multiple enterprise/revenue value | Consolidated Investment Vehicles | Minimum | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple-enterprise value/revenue 1.05  
Market multiple-price to book 115.00%  
Market multiple-price to earnings 450.00%  
Multiple enterprise/revenue value | Consolidated Investment Vehicles | Maximum | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple-enterprise value/revenue 1.10  
Multiple enterprise/revenue value | Consolidated Investment Vehicles | Weighted Average | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple-enterprise value/revenue 1.08  
Measurement Input, EBITDA Multiple | Minimum | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA   3.00
Measurement Input, EBITDA Multiple | Maximum | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA   10.50
Measurement Input, EBITDA Multiple | Weighted Average | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA   8.95
Measurement Input, EBITDA Multiple | Consolidated Investment Vehicles | Minimum | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA 2.50  
Measurement Input, EBITDA Multiple | Consolidated Investment Vehicles | Minimum | Valuation, Market Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA 2.50  
Measurement Input, EBITDA Multiple | Consolidated Investment Vehicles | Maximum | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA 11.00  
Measurement Input, EBITDA Multiple | Consolidated Investment Vehicles | Maximum | Valuation, Market Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA 2.75  
Measurement Input, EBITDA Multiple | Consolidated Investment Vehicles | Weighted Average | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA 10.25  
Measurement Input, EBITDA Multiple | Consolidated Investment Vehicles | Weighted Average | Valuation, Market Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market multiple - enterprise value/EBITDA 2.63  
Measurement Input, Long-Term Revenue Growth Rate | Consolidated Investment Vehicles | Minimum | Valuation, Income Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 3.00%  
Measurement Input, Long-Term Revenue Growth Rate | Consolidated Investment Vehicles | Maximum | Valuation, Income Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 4.00%  
Measurement Input, Long-Term Revenue Growth Rate | Consolidated Investment Vehicles | Weighted Average | Valuation, Income Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 3.50%  
Measurement Input, Exit Multiple, EBITDA | Consolidated Investment Vehicles | Valuation, Market Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 800.00%  
Measurement Input, Exit Multiple, EBITDA | Consolidated Investment Vehicles | Minimum | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 800.00%  
Measurement Input, Exit Multiple, EBITDA | Consolidated Investment Vehicles | Maximum | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 1200.00%  
Measurement Input, Exit Multiple, EBITDA | Consolidated Investment Vehicles | Weighted Average | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 1053.00%  
Measurement Input, Price to Book | Consolidated Investment Vehicles | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 130.00%  
Measurement Input, Price to Earnings | Consolidated Investment Vehicles | Valuation, Market Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 550.00%  
Measurement Input, Cost to Sell | Consolidated Investment Vehicles | Valuation, Income Approach | Equity securities and warrants    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 100.00%  
Measurement Input, Cost to Sell | Consolidated Investment Vehicles | Valuation, Income Approach | Corporate securities    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Yield (as a percent) 100.00%