Equity (Tables)

12 Months Ended

Dec. 31, 2024

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Stock by Class [Table Text Block]

The changes in number of common stock shares, issued, held in treasury and outstanding are as follows for the periods presented:

	Issued	Held In Treasury	Outstanding
Balance, December 31, 2021	85,310,598	18,139,868	67,170,730
Common Stock acquired	—	599,254	(599,254)
Stock-based compensation (1)	—	(104,732)	104,732
Balance, December 31, 2022	85,310,598	18,634,390	66,676,208
Common Stock acquired	—	1,372,131	(1,372,131)
Stock-based compensation (1)	—	(316,636)	316,636
Balance, December 31, 2023	85,310,598	19,689,885	65,620,713
Common Stock acquired	—	—	—
Stock-based compensation (1)	—	(251,549)	251,549
Balance, December 31, 2024	85,310,598	19,438,336	65,872,262

(1)Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs.

Class of Treasury Stock [Table Text Block]

The following table summarizes the Company’s share repurchase activity under the share repurchase programs for the years ended December 31, 2024 and 2023 (dollar amounts in millions, except for the number of shares and per share amounts):

Year of Repurchase	Shares Repurchased	Amount Paid		Average Per Share
2024	—	$	—	$	—
2023	1,372,131	$	200	$	145.76

Schedule of Comprehensive Income (Loss) [Table Text Block]

Other Comprehensive Income (Loss)

The following table presents the components of the Company’s other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022 (dollars in millions):

For the year ended December 31, 2024:

	Before-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	(185)	$	(5)	$	(190)
Foreign currency swap	129		(27)		102
Net foreign currency translation adjustments	(56)		(32)		(88)
Unrealized gains on investments: (1)
Unrealized net holding losses arising during the year	(1,667)		326		(1,341)
Less: Reclassification adjustment for net losses realized in net income	(633)		150		(483)
Net unrealized losses	(1,034)		176		(858)
Effect of updating discount rates on future policy benefits	2,742		(586)		2,156
Change in instrument-specific credit risk for market risk benefits	(1)		—		(1)
Unrealized gains (losses) related to pension and postretirement benefits:
Net prior service cost arising during the year	(2)		—		(2)
Net gain (loss) arising during the year	13		(2)		11
Net unrealized gains (losses) related to pension and postretirement benefits	11		(2)		9
Other comprehensive income (loss)	$	1,662	$	(444)	$	1,218

For the year ended December 31, 2023:

	Before-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	224	$	(26)	$	198
Foreign currency swap	(18)		4		(14)
Net foreign currency translation adjustments	206		(22)		184
Unrealized losses on investments: (1)
Unrealized net holding gains arising during the year	2,050		(401)		1,649
Less: Reclassification adjustment for net gains realized in net income	(228)		48		(180)
Net unrealized losses	2,278		(449)		1,829
Effect of updating discount rates on future policy benefits	(660)		161		(499)
Change in instrument-specific credit risk for market risk benefits	(13)		3		(10)
Unrealized gains (losses) related to pension and postretirement benefits:
Net prior service cost arising during the year	(1)		1		—
Net gain (loss) arising during the year	(3)		1		(2)
Net unrealized gains (losses) related to pension and postretirement benefits	(4)		2		(2)
Other comprehensive income (loss)	$	1,807	$	(305)	$	1,502

For the year ended December 31, 2022:

	Before-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
Foreign currency translation adjustments:
Change arising during year	$	(131)	$	(22)	$	(153)
Foreign currency swap	64		(13)		51
Net foreign currency translation adjustments	(67)		(35)		(102)
Unrealized losses on investments: (1)
Unrealized net holding losses arising during the year	(12,036)		2,582		(9,454)
Less: Reclassification adjustment for net losses realized in net income	(218)		40		(178)
Net unrealized losses	(11,818)		2,542		(9,276)
Effect of updating discount rates on future policy benefits	10,188		(2,224)		7,964
Change in instrument-specific credit risk for market risk benefits	25		(5)		20
Unrealized gains (losses) related to pension and postretirement benefits:
Net prior service cost arising during the year	(3)		1		(2)
Net gain arising during the year	33		(8)		25
Net unrealized gains (losses) related to pension and postretirement benefits	30		(7)		23
Other comprehensive income (loss)	$	(1,642)	$	271	$	(1,371)

(1)Includes cash flow hedges. See Note 12 for additional information on cash flow hedges.

Components Of Accumulated Other Comprehensive Income [Table Text Block]

A summary of the components of net unrealized appreciation (depreciation) of balances carried at fair value is as follows (dollars in millions):

For the years ended December 31,	2024		2023		2022
Change in net unrealized appreciation (depreciation) on:
Fixed maturity securities available-for-sale	$	(758)	$	2,289	$	(11,632)
Other investments (1)	(276)		(11)		(186)
Net unrealized appreciation (depreciation)	$	(1,034)	$	2,278	$	(11,818)

(1)Includes cash flow hedges. See Note 12 for additional information on cash flow hedges.

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The balance of and changes in each component of AOCI were as follows (dollars in millions):

	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments (1)		Pension and Postretirement Benefits		Effect of Updating Discount Rates on Future Policy Benefits		Instrument-Specific Credit Risk for Market Risk Benefits		Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2021	$	(13)	$	3,779	$	(50)	$	(4,209)	$	(7)	(500)
OCI before reclassifications	(67)		(12,045)		28		10,188		25		(1,871)
Amounts reclassified from AOCI	—		227		2		—		—		229
Deferred income tax benefit (expense)	(35)		2,542		(7)		(2,224)		(5)		271
Balance, December 31, 2022	(115)		(5,497)		(27)		3,755		13		(1,871)
OCI before reclassifications	206		2,037		(4)		(660)		(13)		1,566
Amounts reclassified from AOCI	—		241		—		—		—		241
Deferred income tax benefit (expense)	(22)		(449)		2		161		3		(305)
Balance, December 31, 2023	69		(3,668)		(29)		3,256		3		(369)
OCI before reclassifications	(56)		(1,718)		11		2,742		(1)		978
Amounts reclassified from AOCI	—		684		—		—		—		684
Deferred income tax benefit (expense)	(32)		176		(2)		(586)		—		(444)
Balance, December 31, 2024	$	(19)	$	(4,526)	$	(20)	$	5,412	$	2	$	849

(1)Includes cash flow hedges of $(495), $(218) and $(205) as of December 31, 2024, 2023 and 2022, respectively. See Note 12 for additional information on cash flow hedges.

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The following table presents the amounts of AOCI reclassifications for the years ended December 31, 2024 and 2023 (dollars in millions):

	Amount Reclassified from AOCI
Details about AOCI Components	2024		2023		Affected Line Item in  Statement of Income
Net unrealized investment gains (losses):
Net unrealized gains and losses on available-for-sale securities	$	(633)	$	(228)	Investment related gains (losses), net
Cash flow hedges – Interest rate	—		10		(1)
Cash flow hedges – Foreign currency	(51)		(23)		(1)
Total	(684)		(241)
Provision for income taxes	161		52
Net unrealized gains (losses), net of tax	$	(523)	$	(189)
Amortization of defined benefit plan items:
Prior service (cost) credit	$	2	$	2	(2)
Actuarial gains (losses)	(2)		(2)		(2)
Total	—		—
Provision for income taxes	—		—
Amortization of defined benefit plans, net of tax	$	—	$	—
Total reclassifications for the period	$	(523)	$	(189)

(1)See Note 12 for information on cash flow hedges.

(2)See Note 15 for information on employee benefit plans.