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Fair value measurements (Tables)
 3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Financial Instruments Measured At Fair Value On A Recurring Basis
Financial instruments measured at fair value on a recurring basis, by valuation hierarchy
March 31, 2023Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency$2,119 $560 $— $2,679 
Non-U.S.— 26,831 561 27,392 
Corporate and asset-backed securities— 35,916 2,544 38,460 
Mortgage-backed securities— 16,092 10 16,102 
Municipal— 3,731 — 3,731 
2,119 83,130 3,115 88,364 
Equity securities854 — 88 942 
Short-term investments1,856 1,830 7 3,693 
Other investments (1)
559 423 — 982 
Securities lending collateral— 1,582 — 1,582 
Investment derivatives59 — — 59 
Derivatives designated as hedging instruments— 8 — 8 
Other derivative instruments5 — — 5 
Separate account assets5,198 102 — 5,300 
Total assets measured at fair value (1)
$10,650 $87,075 $3,210 $100,935 
Liabilities:
Investment derivatives$158 $— $— $158 
Derivatives designated as hedging instruments— 82 — 82 
Other derivative instruments45 2 — 47 
Market risk benefits (2)
— — 830 830 
Total liabilities measured at fair value$203 $84 $830 $1,117 
(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,805 million, policy loans of $358 million, and other investments of $47 million at March 31, 2023, measured using NAV as a practical expedient.
(2)Refer to Note 11 for additional information on Market risk benefits.
 
December 31, 2022Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency$2,100 $526 $— $2,626 
Non-U.S.— 25,344 564 25,908 
Corporate and asset-backed securities— 34,506 2,449 36,955 
Mortgage-backed securities— 15,840 11 15,851 
Municipal— 3,880 — 3,880 
2,100 80,096 3,024 85,220 
Equity securities737 — 90 827 
Short-term investments3,108 1,849 3 4,960 
Other investments (1)
552 399 — 951 
Securities lending collateral— 1,523 — 1,523 
Investment derivative instruments82 — — 82 
Derivatives designated as hedging instruments— 17 — 17 
Other derivative instruments33 — — 33 
Separate account assets5,101 89 — 5,190 
Total assets measured at fair value (1)
$11,713 $83,973 $3,117 $98,803 
Liabilities:
Investment derivatives$139 $— $— $139 
Derivatives designated as hedging instruments— 53 — 53 
Market risk benefits (2)
— — 800 800 
Total liabilities measured at fair value$139 $53 $800 $992 
(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,355 million, policy loans of $343 million and other investments of $47 million at December 31, 2022, measured using NAV as a practical expedient.
(2)Refer to Note 11 for additional information on Market risk benefits.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3):
Assets
Three Months Ended
March 31, 2023
(in millions of U.S. dollars)		Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Non-U.S.Corporate and asset-
backed securities		Mortgage-backed securities
Balance, beginning of period$564 $2,449 $11 $90 $3 
Transfers out of Level 3— (11)— — — 
Change in Net Unrealized Gains/Losses in OCI(4)(2)— — (1)
Net Realized Gains/Losses— 2 — (4)— 
Purchases43 205 — 7 5 
Sales(31)(20)— (5)— 
Settlements(11)(79)(1)— — 
Balance, end of period$561 $2,544 $10 $88 $7 
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date$— $4 $— $(3)$— 
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date$(6)$(5)$— $— $(1)
  Assets
Three Months Ended
March 31, 2022
(in millions of U.S. dollars)		Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Non-U.S.Corporate and asset-
backed securities		Mortgage-backed securities
Balance, beginning of period$633 $2,049 $26 $77 $7 
Transfers into Level 318 29 — 1 — 
Transfers out of Level 3(23)(50)(5)— — 
Change in Net Unrealized Gains/Losses in OCI(13)(22)— — — 
Net Realized Gains/Losses(2)— — 4 — 
Purchases43 315 — 3 2 
Sales(6)(27)— (3)— 
Settlements(32)(65)(1)— (5)
Balance, end of period$618 $2,229 $20 $82 $4 
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date$(2)$— $— $4 $— 
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date$(13)$(22)$— $— $— 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3):
Assets
Three Months Ended
March 31, 2023
(in millions of U.S. dollars)		Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Non-U.S.Corporate and asset-
backed securities		Mortgage-backed securities
Balance, beginning of period$564 $2,449 $11 $90 $3 
Transfers out of Level 3— (11)— — — 
Change in Net Unrealized Gains/Losses in OCI(4)(2)— — (1)
Net Realized Gains/Losses— 2 — (4)— 
Purchases43 205 — 7 5 
Sales(31)(20)— (5)— 
Settlements(11)(79)(1)— — 
Balance, end of period$561 $2,544 $10 $88 $7 
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date$— $4 $— $(3)$— 
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date$(6)$(5)$— $— $(1)
  Assets
Three Months Ended
March 31, 2022
(in millions of U.S. dollars)		Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Non-U.S.Corporate and asset-
backed securities		Mortgage-backed securities
Balance, beginning of period$633 $2,049 $26 $77 $7 
Transfers into Level 318 29 — 1 — 
Transfers out of Level 3(23)(50)(5)— — 
Change in Net Unrealized Gains/Losses in OCI(13)(22)— — — 
Net Realized Gains/Losses(2)— — 4 — 
Purchases43 315 — 3 2 
Sales(6)(27)— (3)— 
Settlements(32)(65)(1)— (5)
Balance, end of period$618 $2,229 $20 $82 $4 
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date$(2)$— $— $4 $— 
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date$(13)$(22)$— $— $— 
Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value
The following tables present fair value, by valuation hierarchy, and carrying value of the financial instruments not measured at fair value:
March 31, 2023Fair ValueNet Carrying
Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency$1,267 $73 $— $1,340 $1,371 
Non-U.S.— 1,036 — 1,036 1,106 
Corporate and asset-backed securities— 1,576 — 1,576 1,671 
Mortgage-backed securities— 1,282 — 1,282 1,372 
Municipal— 2,875 — 2,875 2,905 
Total assets$1,267 $6,842 $— $8,109 $8,425 
Liabilities:
Repurchase agreements$— $1,420 $— $1,420 $1,420 
Long-term debt— 12,892 — 12,892 14,375 
Trust preferred securities— 368 — 368 308 
Total liabilities$— $14,680 $— $14,680 $16,103 

December 31, 2022Fair ValueNet Carrying
Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency$1,299 $71 $— $1,370 $1,417 
Non-U.S.— 1,054 — 1,054 1,136 
Corporate and asset-backed securities— 1,580 — 1,580 1,705 
Mortgage-backed securities— 1,351 — 1,351 1,455 
Municipal— 3,084 — 3,084 3,135 
Total assets$1,299 $7,140 $— $8,439 $8,848 
Liabilities:
Repurchase agreements$— $1,419 $— $1,419 $1,419 
Short-term debt— 473 — 473 475 
Long-term debt— 12,495 — 12,495 14,402 
Trust preferred securities— 383 — 383 308 
Total liabilities$— $14,770 $— $14,770 $16,604