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Fair Value of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
Assets and liabilities measured at fair value
June 30, 2024
($ in millions)Quoted prices in active markets for identical assets (Level 1)Significant other observable inputs (Level 2)Significant unobservable inputs (Level 3)Counterparty and cash collateral nettingTotal
Assets     
Fixed income securities:     
U.S. government and agencies$10,551 $13 $—  $10,564 
Municipal— 6,531 7  6,538 
Corporate - public— 23,470 30  23,500 
Corporate - privately placed— 8,964 50 9,014 
Foreign government— 1,289 —  1,289 
ABS— 1,600 71 1,671 
Total fixed income securities10,551 41,867 158  52,576 
Equity securities (1)
1,451 222 393 
 
2,066 
Short-term investments1,596 3,691 1  5,288 
Other investments— 7 2 $(7)2 
Other assets2 — 121  123 
Total recurring basis assets13,600 45,787 675 (7)60,055 
Non-recurring basis
— — 11  11 
Total assets at fair value$13,600 $45,787 $686 $(7)$60,066 
% of total assets at fair value22.7 %76.2 %1.1 %— %100.0 %
Investments reported at NAV1,138 
Total$61,204 
Liabilities     
Other liabilities$(3)$(2)$— $— $(5)
Total recurring basis liabilities(3)(2)— — (5)
Total liabilities at fair value$(3)$(2)$— $— $(5)
% of total liabilities at fair value60.0 %40.0 %— %— %100.0 %
(1)Excludes $150 million of preferred stock measured at cost.
Assets and liabilities measured at fair value
December 31, 2023
($ in millions)Quoted prices in active markets for identical assets (Level 1)Significant other observable inputs (Level 2)Significant unobservable inputs (Level 3)Counterparty and cash collateral nettingTotal
Assets     
Fixed income securities:     
U.S. government and agencies$8,606 $13 $—  $8,619 
Municipal— 5,995 11  6,006 
Corporate - public— 23,272 26  23,298 
Corporate - privately placed— 7,849 58 7,907 
Foreign government— 1,290 —  1,290 
ABS— 1,687 58 1,745 
Total fixed income securities8,606 40,106 153  48,865 
Equity securities (1)
1,656 203 402 
 
2,261 
Short-term investments1,676 3,467 1 
 
5,144 
Other investments— 3 2 $(2)3 
Other assets3 — 118  121 
Total recurring basis assets11,941 43,779 676 (2)56,394 
Non-recurring basis— — 15  15 
Total assets at fair value$11,941 $43,779 $691 $(2)$56,409 
% of total assets at fair value21.2 %77.6 %1.2 %— %100.0 %
Investments reported at NAV1,165 
Total$57,574 
Liabilities     
Other liabilities$(2)$(10)$— $8 $(4)
Total recurring basis liabilities(2)(10)— 8 (4)
Total liabilities at fair value$(2)$(10)$— $8 $(4)
% of total liabilities at fair value50.0 %250.0 %— %(200.0)%100.0 %
(1)Excludes $150 million of preferred stock measured at cost.
Schedule of Rollforward of Level 3 Assets and Liabilities Held at Fair Value
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended June 30, 2024
Balance as of
 March 31, 2024		Total gains (losses)
included in:		 Transfers Balance as of
 June 30, 2024
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$8 $— $— $— $— $— $(1)$— $— $7 
Corporate - public23 1 (1)— — 11 (4)— — 30 
Corporate - privately placed54 (2)— — — — (2)— — 50 
ABS58 — — — — 14 — — (1)71 
Total fixed income securities143 (1)(1)— — 25 (7)— (1)158 
Equity securities408 (3)— — — 9 (21)— — 393 
Short-term investments21 — — — — 1 (20)— (1)1 
Other investments2 — — — — — — — — 2 
Other assets120 1 — — — — — — — 121 
Total recurring Level 3 assets$694 $(3)$(1)$— $— $35 $(48)$— $(2)$675 
Rollforward of Level 3 assets and liabilities held at fair value during the six month period ended June 30, 2024
Balance as of December 31, 2023Total gains (losses)
 included in:		 Transfers Balance as of June 30, 2024
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$11 $— $— $— $— $— $(2)$— $(2)$7 
Corporate - public26 1 1 — — 11 (9)— — 30 
Corporate - privately placed58 (6)— — — — (2)— — 50 
ABS58 — — — — 14 — — (1)71 
Total fixed income securities153 (5)1 — — 25 (13)— (3)158 
Equity securities402 6 — — — 9 (24)— — 393 
Short-term investments1 — — — — 21 (20)— (1)1 
Other investments2 — — — — — — — — 2 
Other assets118 3 — — — — — — — 121 
Total recurring Level 3 assets$676 $4 $1 $— $— $55 $(57)$— $(4)$675 
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended June 30, 2023
Balance as of
 March 31, 2023		Total gains (losses)
 included in:		 Transfers Balance as of
 June 30, 2023
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$17 $3 $(1)$— $— $— $(6)$— $(1)$12 
Corporate - public29 — — — — — (3)— — 26 
Corporate - privately placed49 (7)1 16 — 1 — — — 60 
ABS27 — — — — 7 — — — 34 
Total fixed income securities122 (4)— 16 — 8 (9)— (1)132 
Equity securities358 7 — — — 28 (12)— — 381 
Short-term investments6 — — — — — — — — 6 
Other investments2 — — — — — — — — 2 
Other assets112 (8)— — — — — — — 104 
Total recurring Level 3 assets$600 $(5)$— $16 $— $36 $(21)$— $(1)$625 
Rollforward of Level 3 assets and liabilities held at fair value during the six month period ended June 30, 2023
Balance as of
December 31, 2022		Total gains (losses)
 included in:		 Transfers Balance as of June 30, 2023
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$21 $3 $(1)$— $— $— $(9)$— $(2)$12 
Corporate - public69 (1)2 — — — (44)— — 26 
Corporate - privately placed55 (11)1 16 — 1 (2)— — 60 
ABS28 — — — — 7 — — (1)34 
Total fixed income securities173 (9)2 16 — 8 (55)— (3)132 
Equity securities333 7 — — — 70 (29)— — 381 
Short-term investments6 — — — — — — — — 6 
Other investments3 (1)— — — — — — — 2 
Other assets103 1 — — — — — — — 104 
Total recurring Level 3 assets$618 $(2)$2 $16 $— $78 $(84)$— $(3)$625 
Total Level 3 gains (losses) included in net income
Three months ended June 30,Six months ended June 30,
($ in millions)2024202320242023
Net investment income$1 $3 $1 $(2)
Net gains (losses) on investments and derivatives (1)
(5)— — (1)
Operating costs and expenses (1)
1 (8)3 1 
(1)Prior to the first quarter of 2024, Level 3 gains (losses) included in operating costs and expenses were reported in this table within net gains (losses) on investments and derivatives. Historical results have been updated to conform with this presentation.
Schedule of Valuation Changes Included in Net Income and OCI for Level 3 Assets and Liabilities
Valuation changes included in net income and OCI for Level 3 assets and liabilities still held
Three months ended June 30,Six months ended June 30,
($ in millions)2024202320242023
Assets    
Fixed income securities:
Corporate - public$1 $— $1 $— 
Corporate - privately placed(2)(7)(6)(11)
Total fixed income securities(1)(7)(5)(11)
Equity securities— 7 11 6 
Other investments— — — (1)
Other assets1 (8)3 1 
Total recurring Level 3 assets$— $(8)$9 $(5)
Total included in net income$— $(8)$9 $(5)
Components of net income
Net investment income$1 $3 $1 $(2)
Net gains (losses) on investments and derivatives(2)(3)5 (4)
Operating costs and expenses1 (8)3 1 
Total included in net income$— $(8)$9 $(5)
Assets
Corporate - public$(1)$— $1 $1 
Corporate - privately placed— 1 — 1 
Changes in unrealized net capital gains and losses reported in OCI$(1)$1 $1 $2 
Schedule of Financial Instruments Not Carried at Fair Value
Financial instruments not carried at fair value
($ in millions)June 30, 2024December 31, 2023
Financial assetsFair value levelAmortized cost, net
Fair
value
Amortized cost, net
Fair
value
Mortgage loansLevel 3$815 $762 $822 $769 
Bank loansLevel 3149 161 224 238 
Financial liabilitiesFair value level
Carrying value (1)
Fair
value
Carrying value (1)
Fair
value
Contractholder funds on investment contractsLevel 3$42 $42 $46 $46 
DebtLevel 28,082 7,690 7,942 7,655 
Liability for collateralLevel 22,001 2,001 1,891 1,891 
(1)Represents the amounts reported on the Condensed Consolidated Statements of Financial Position.