Commitments, contingencies, and guarantees (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Balance Sheet Locations, Fair Values In An Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments

The following table presents the balance sheet locations, fair values of derivative instruments in an asset or (liability) position, and notional values/payment provisions of our derivative instruments: 

		December 31, 2022						December 31, 2021
	Consolidated Balance Sheet Location	Fair Value				Notional Value/ Payment Provision		Fair Value				Notional Value/ Payment Provision
		Derivative Asset		Derivative (Liability)				Derivative Asset		Derivative (Liability)
(in millions of U.S. dollars)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contracts	OA / (AP)	$	64	$	(115)	$	4,134	$	25	$	(139)	$	6,182
Options/Futures contracts on notes and bonds	OA / (AP)	18		(24)		1,511		33		(27)		12,944
Convertible securities (1)	FM AFS / ES	30		—		37		11		—		12
		$	112	$	(139)	$	5,682	$	69	$	(166)	$	19,138
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	33	$	—	$	939	$	—	$	(16)	$	905
Other	OA / (AP)	—		—		—		—		—		3
		$	33	$	—	$	939	$	—	$	(16)	$	908
GLB (3)	(AP)	$	—	$	(736)	$	1,979	$	—	$	(745)	$	1,432
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	17	$	—	$	1,595	$	—	$	—	$	—
Cross-currency swaps - net investment hedges	OA / (AP)	—		(53)		1,604		—		—		—
		$	17	$	(53)	$	3,199	$	—	$	—	$	—

(1)Includes fair value of embedded derivatives.

(2)Related to GMDB and GLB book of business.

(3)Note that the payment provision related to GLB is the net amount at risk. The concept of a notional value does not apply to the GLB reinsurance contracts.

Derivative Instruments, Gain (Loss) [Table Text Block]

The following table presents net realized gains (losses) related to derivative instrument activity in the Consolidated statements of operations:

	Year Ended December 31
(in millions of U.S. dollars)	2022		2021		2020
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(339)	$	(62)	$	65
All other futures contracts, options, and equities	297		(10)		16
Convertible securities (1)	(1)		—		—
Total investment and embedded derivative instruments	$	(43)	$	(72)	$	81
GLB and other derivative instruments:
GLB	$	(63)	$	316	$	(202)
Futures contracts on equities (2)	187		(202)		(108)
Other	(11)		(8)		1
Total GLB and other derivative instruments	$	113	$	106	$	(309)
	$	70	$	34	$	(228)

(1)Includes embedded derivatives.

(2)Related to GMDB and GLB book of business.

Secured Borrowings Securities Lending Table

The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:

	Remaining contractual maturity
	December 31, 2022		December 31, 2021
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	820	$	931
U.S. Treasury / Agency	72		128
Non-U.S.	604		752
Corporate and asset-backed securities	27		12
Mortgage-backed securities	—		1
Equity securities	—		7
	$	1,523	$	1,831
Gross amount of recognized liability for securities lending payable	$	1,523	$	1,831

The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:

			Remaining contractual maturity
	December 31, 2022						December 31, 2021
	Up to 30 Days		30-90 Days				30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)					Total
Collateral pledged under repurchase agreements:
Cash	$	12	$	—	$	12	$	—	$	29	$	29
U.S. Treasury / Agency	—		101		101		103		—		103
Mortgage-backed securities	921		493		1,414		—		1,288		1,288
	$	933	$	594	$	1,527	$	103	$	1,317	$	1,420
Gross amount of recognized liabilities for repurchase agreements					$	1,419					$	1,406
Difference (1)					$	108					$	14

(1)Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments under the operating leases are expected to be as follows:

For the years ending December 31
(in millions of U.S. dollars)
Undiscounted cash flows:
2023	$	160
2024	123
2025	87
2026	73
2027	50
Thereafter	261
Total undiscounted lease payments	$	754
Less: Present value adjustment	121
Net lease liabilities reported as of December 31, 2022	$	633