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Commitments, contingencies, and guarantees (Tables)
 6 Months Ended
Jun. 30, 2025
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 location, fair value in an asset or (liability) position, and notional value/payment provision of our derivative instruments:
June 30, 2025December 31, 2024
Consolidated
Balance Sheet
Location		Fair ValueNotional
Amount/
Payment
Provision		Fair ValueNotional
Amount/
Payment
Provision
(in millions of U.S. dollars)Derivative AssetDerivative (Liability)Derivative AssetDerivative (Liability)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contractsOA / (AP)$45 $(136)$4,386 $41 $(295)$3,959 
Options/Futures/Forward contracts on notes and bondsOA / (AP)6 (7)909 — (8)449 
Convertible securities (1)
FM AFS / ES7 — 6 12 — 12 
Total$58 $(143)$5,301 $53 $(303)$4,420 
Other derivative instruments:
Futures contracts on equities (2)
OA / (AP)$— $(31)$986 $35 $— $1,047 
OtherOA / (AP)7 (5)379 — (2)211 
Total$7 $(36)$1,365 $35 $(2)$1,258 
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedgesOA / (AP)$233 $— $2,010 $103 $— $1,579 
Cross-currency swaps - net investment hedgesOA / (AP)24 (223)3,003 43 (116)2,896 
Total$257 $(223)$5,013 $146 $(116)$4,475 
(1)Includes fair value of embedded derivatives.
(2)Related to MRB book of business.
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location
Three Months Ended
Six Months Ended
 June 30
 June 30
(pre-tax, in millions of U.S. dollars)
2025
2024
2025
2024
Gain (loss) recognized in OCI$141 $(46)$115 $(54)
Net realized gain (loss) reclassified from OCI169 (12)238 (49)
Interest expense reclassified from OCI(5)(4)(9)(8)
OCI gain (loss) after reclassifications$(23)$(30)$(114)$3 
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location
The following table presents the OCI impact of derivative and non-derivative net investment hedges:

Three Months Ended
Six Months Ended
June 30
 June 30
(pre-tax, in millions of U.S. dollars)
2025
2024
2025
2024
Cross-currency swaps:
Gain (loss) recognized in OCI$(138)$37 $(114)$73 
Interest income reclassified from OCI7 3 15 6 
Total cross currency swaps(145)34 (129)67 
Foreign denominated debt:
Gain (loss) recognized in OCI(6)— (6)— 
Total OCI gain (loss) after reclassifications$(151)$34 $(135)$67 
Net Realized Gains (Losses) Of Derivative Instrument Activity In Consolidated Statement Of Operations The following table presents net gains (losses) related to derivative instrument activity in the Consolidated statements of operations:
Three Months EndedSix Months Ended
June 30June 30
(in millions of U.S. dollars)2025202420252024
Investment and embedded derivative instruments:
Foreign currency forward contracts$147 $(28)$133 $(80)
Options/Futures/Forward contracts on notes and bonds7 12 (2)18 
Convertible securities (1)
— (1)— 2 
Total investment and embedded derivative instruments$154 $(17)$131 $(60)
Other derivative instruments:
Futures contracts on equities (2)
$(89)$(21)$(35)$(116)
Other(2)(3)(5)(5)
Total other derivative instruments$(91)$(24)$(40)$(121)
Total$63 $(41)$91 $(181)
(1)Includes embedded derivatives.
(2)Related to MRB book of business.
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
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
June 30, 2025December 31, 2024
(in millions of U.S. dollars)Overnight and Continuous
Collateral held under securities lending agreements:
Cash$695 $557 
U.S. and local government securities161 148 
Non-U.S.1,001 663 
Corporate and asset-backed securities74 49 
Equity securities10 28 
Total$1,941 $1,445 
Gross amount of recognized liability for securities lending payable$1,941 $1,445 
The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:
Remaining contractual maturity
June 30, 2025December 31, 2024
Up to 30 Days30-90 DaysGreater than
90 Days		TotalUp to 30 Days30-90 DaysGreater than
90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash$— $2 $— $2 $— $19 $2 $21 
Non-U.S.1,205 — — 1,205 1,387 — — 1,387 
U.S. and local government securities— — — — — — 104 104 
Mortgage-backed securities977 923 25 1,925 — 454 924 1,378 
Total$2,182 $925 $25 $3,132 $1,387 $473 $1,030 $2,890 
Gross amount of recognized liabilities for repurchase agreements$3,059 $2,731 
Difference (1)
$73 $159 
(1)Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.