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Fair value measurements (Tables)
 12 Months Ended
Dec. 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 
December 31, 2023Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency$2,911 $679 $— $3,590 
Non-U.S.— 34,472 692 35,164 
Corporate and asset-backed securities— 40,208 2,622 42,830 
Mortgage-backed securities— 22,051 7 22,058 
Municipal— 2,929 — 2,929 
2,911 100,339 3,321 106,571 
Equity securities3,368 — 87 3,455 
Short-term investments1,915 2,633 3 4,551 
Other investments (1)
589 4,236 — 4,825 
Securities lending collateral— 1,299 — 1,299 
Investment derivatives54 — — 54 
Derivatives designated as hedging instruments — 136 — 136 
Separate account assets5,482 91 — 5,573 
Total assets measured at fair value (1) (2)
$14,319 $108,734 $3,411 $126,464 
Liabilities:
Investment derivatives$136 $— $— $136 
Derivatives designated as hedging instruments— 128 — 128 
Other derivative instruments37 5 — 42 
Market risk benefits (3)
— — 771 771 
Total liabilities measured at fair value$173 $133 $771 $1,077 
(1)Excluded from the table above are other investments of $702 million, principally policy loans at December 31, 2023 measured using NAV as a practical expedient.
(2)Excluded from the table above are Private equities of $14,078 million at December 31, 2023 measured using NAV as a practical expedient.
(3)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 instruments
82 — — 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) (2)
$11,713 $83,973 $3,117 $98,803 
Liabilities:
Investment derivatives$139 $— $— $139 
Derivatives designated as hedging instruments
— 53 — 53 
Market risk benefits (3)
— — 800 800 
Total liabilities measured at fair value$139 $53 $800 $992 
(1)Excluded from the table above are other investments of $390 million, principally policy loans at December 31, 2022 measured using NAV as a practical expedient.
(2)Excluded from the table above are Private equities of $12,355 million at December 31, 2022 measured using NAV as a practical expedient.
(3)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). Excluded from the following tables is the reconciliation of Market risk benefits, refer to Note 11 for additional information:
 Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Year Ended December 31, 2023Non-U.S.Corporate and asset-backed securitiesMortgage-backed securities
(in millions of U.S. dollars)
Balance, beginning of year$564 $2,449 $11 $90 $3 
Transfers into Level 321 30 — — — 
Transfers out of Level 3(22)(26)(15)— — 
Change in Net Unrealized Gains (Losses) in OCI
13 28 — — (1)
Net Realized Gains (Losses)
(4)(17)— (7)(1)
Purchases258 681 15 24 5 
Sales(82)(81)— (20)(3)
Settlements(56)(442)(4)— — 
Balance, end of year$692 $2,622 $7 $87 $3 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$(1)$(5)$— $(7)$— 
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$7 $12 $— $— $— 

 Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Year Ended December 31, 2022Non-U.S.Corporate and asset-backed securities Mortgage-backed securities
(in millions of U.S. dollars)
Balance, beginning of year
$633 $2,049 $26 $77 $7 
Transfers into Level 323 47 — 1 — 
Transfers out of Level 3(23)(97)(9)— — 
Change in Net Unrealized Gains (Losses) in OCI
(53)(80)— — — 
Net Realized Gains (Losses)
(6)(14)— 15 (2)
Purchases
156 921 4 9 3 
Sales(59)(85)— (12)— 
Settlements(107)(292)(10)— (5)
Balance, end of year$564 $2,449 $11 $90 $3 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$(2)$(9)$— $14 $(1)
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$(53)$(84)$— $— $— 
 Available-for-Sale Debt SecuritiesShort-term investments
Year Ended December 31, 2021Non-U.S.Corporate and asset-backed securitiesMortgage-backed securitiesEquity
securities		Other
investments
(in millions of U.S. dollars)
Balance, beginning of year$546 $1,573 $60 $73 $5 $10 
Transfers into Level 324 91 — — — — 
Transfers out of Level 3(11)(76)(18)— — (10)
Change in Net Unrealized Gains (Losses) in OCI
(30)15 — — (1)— 
Net Realized Gains (Losses)
(1)(2)— 8 — — 
Purchases
275 1,154 18 21 9 — 
Sales(48)(99)(1)(25)— — 
Settlements(122)(607)(33)— (6)— 
Balance, end of year$633 $2,049 $26 $77 $7 $— 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$— $3 $— $5 $— $— 
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$(25)$17 $— $— $— $— 
Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value
December 31, 2023Fair ValueNet Carrying Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Private debt held-for-investment
$— $— $2,560 $2,560 $2,553 
Total assets$— $— $2,560 $2,560 $2,553 
Liabilities:
Repurchase agreements$— $2,833 $— $2,833 $2,833 
Short-term debt— 1,431 — 1,431 1,460 
Long-term debt— 11,924 — 11,924 13,035 
Trust preferred securities— 365 — 365 308 
Total liabilities$— $16,553 $— $16,553 $17,636 

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