XML 106 R82.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Fair Value Measurement - Fair Value Level 3 Rollforward Recurring Basis (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
FG VIEs’ Assets    
Fair Value Level 3 Rollforward    
Fair value at beginning of period $ 174 $ 204
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss) (2) 1
Other comprehensive income (loss) 1 0
Purchases 0 0
Sales 0 0
Settlements (6) (8)
Transfers into Level 3 0  
Fair value at end of period 167 197
Change in unrealized gains/(losses) related to financial instruments held (3) 0
Consolidated Investment Vehicles | Equity securities and warrants    
Fair Value Level 3 Rollforward    
Fair value at beginning of period 80  
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss) 8  
Other comprehensive income (loss) 0  
Purchases 0  
Sales (2)  
Settlements 0  
Transfers into Level 3 3  
Fair value at end of period 89  
Change in unrealized gains/(losses) related to financial instruments held 7  
Consolidated Investment Vehicles | Equity Securities and Warrants    
Fair Value Level 3 Rollforward    
Fair value at beginning of period   297
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss)   33
Other comprehensive income (loss)   0
Purchases   4
Sales   (5)
Settlements   0
Fair value at end of period   329
Change in unrealized gains/(losses) related to financial instruments held   32
Consolidated Investment Vehicles | Corporate securities    
Fair Value Level 3 Rollforward    
Fair value at beginning of period   96
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss)   (2)
Other comprehensive income (loss)   0
Purchases   4
Sales   (5)
Settlements   0
Fair value at end of period   93
Change in unrealized gains/(losses) related to financial instruments held   (3)
Consolidated Investment Vehicles | Structured products    
Fair Value Level 3 Rollforward    
Fair value at beginning of period 189 46
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss) 4 2
Other comprehensive income (loss) 0 0
Purchases 29 0
Sales (12) (31)
Settlements 0 0
Transfers into Level 3 10  
Fair value at end of period 220 17
Change in unrealized gains/(losses) related to financial instruments held 5 0
Other    
Fair Value Level 3 Rollforward    
Fair value at beginning of period 14 50
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss) (10) (16)
Other comprehensive income (loss) 1 0
Purchases 0 0
Sales 0 0
Settlements 0 0
Transfers into Level 3 0  
Fair value at end of period 5 34
Change in unrealized gains/(losses) related to financial instruments held (10) (16)
Other | Other Comprehensive Income (Loss)    
Total pre-tax realized and unrealized gains (losses) recorded in:    
Change in unrealized gains/(losses) related to financial instruments held 1 0
Financial Guaranty Variable Interest Entities    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value at start of period (554) (715)
Total Pretax Realized And Unrealized Gains (Losses) Recorded As Liabilities [Abstract]    
Net income (loss) 9 3
Other comprehensive income (loss) (2) (1)
Settlements 148 9
Fair value at end of period (399) (704)
Change in unrealized gains/(losses) included in earnings related to financial instruments 2 (2)
Change in unrealized gains/(losses) included in OCI related to financial instruments (2) (1)
Liabilities of CIVs (9)    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value at start of period   (4,154)
Total Pretax Realized And Unrealized Gains (Losses) Recorded As Liabilities [Abstract]    
Net income (loss)   (62)
Other comprehensive income (loss)   (8)
Settlements   4
Fair value at end of period   (4,220)
Change in unrealized gains/(losses) included in earnings related to financial instruments   (65)
Change in unrealized gains/(losses) included in OCI related to financial instruments   (8)
Obligations of state and political subdivisions | Fixed-maturity securities, available-for-sale    
Fair Value Level 3 Rollforward    
Fair value at beginning of period 6 47
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss) 0 0
Other comprehensive income (loss) 0 1
Purchases 0 0
Sales 0 0
Settlements 0 (1)
Transfers into Level 3 0  
Fair value at end of period 6 47
Obligations of state and political subdivisions | Fixed-maturity securities, available-for-sale | Other Comprehensive Income (Loss)    
Total pre-tax realized and unrealized gains (losses) recorded in:    
Change in unrealized gains/(losses) related to financial instruments held 0 1
RMBS | Fixed-maturity securities, available-for-sale    
Fair Value Level 3 Rollforward    
Fair value at beginning of period 154 179
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss) 3 3
Other comprehensive income (loss) 1 (1)
Purchases 0 0
Sales 0 0
Settlements (5) (7)
Transfers into Level 3 0  
Fair value at end of period 153 174
RMBS | Fixed-maturity securities, available-for-sale | Other Comprehensive Income (Loss)    
Total pre-tax realized and unrealized gains (losses) recorded in:    
Change in unrealized gains/(losses) related to financial instruments held 1 (1)
Asset-backed securities | Fixed-maturity securities, available-for-sale    
Fair Value Level 3 Rollforward    
Fair value at beginning of period 803 794
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss) 16 3
Other comprehensive income (loss) 2 (3)
Purchases 10 5
Sales 0 0
Settlements (30) (4)
Transfers into Level 3 20  
Fair value at end of period 821 795
Asset-backed securities | Fixed-maturity securities, available-for-sale | Other Comprehensive Income (Loss)    
Total pre-tax realized and unrealized gains (losses) recorded in:    
Change in unrealized gains/(losses) related to financial instruments held 2 (3)
Credit Risk Contract    
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]    
Fair value at start of period (50) (162)
Total pre-tax realized and unrealized gains (losses) recorded in:    
Net income (loss) 10 15
Other comprehensive income (loss) 0 0
Settlements 1 (1)
Fair value at end of period (39) (148)
Change in unrealized gains/(losses) included in earnings related to financial instruments $ 4 $ 14