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Fair Value of Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
Assets and liabilities measured at fair value
September 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$9,239 $7 $—  $9,246 
Municipal— 8,253 5  8,258 
Corporate - public— 24,292 28  24,320 
Corporate - privately placed— 9,425 51 9,476 
Foreign government— 1,477 —  1,477 
ABS— 1,087 97 1,184 
Total fixed income securities9,239 44,541 181  53,961 
Equity securities (1)
1,295 238 408 
 
1,941 
Short-term investments2,771 4,221 2  6,994 
Other investments— 1 2 $(1)2 
Other assets2 — 123  125 
Assets held for sale
177 1,534 7 — 1,718 
Total recurring basis assets13,484 50,535 723 (1)64,741 
Non-recurring basis
— — 1  1 
Total assets at fair value$13,484 $50,535 $724 $(1)$64,742 
% of total assets at fair value20.8 %78.1 %1.1 %— %100.0 %
Investments reported at NAV1,124 
Total$65,866 
Liabilities     
Other liabilities$(9)$(16)$— $16 $(9)
Total recurring basis liabilities(9)(16)— 16 (9)
Total liabilities at fair value$(9)$(16)$— $16 $(9)
% of total liabilities at fair value100.0 %177.8 %— %(177.8)%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 $150 million of preferred stock measured at cost.
Schedule of Rollforward of Level 3 Assets and Liabilities Held at Fair Value
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended September 30, 2024
Balance as of
 June 30, 2024		Total gains (losses)
included in:		 Transfers
Transfers (to) from held for sale
Balance as of
 September 30, 2024
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$7 $(2)$— $— $— $— $— $— $— $— $5 
Corporate - public30 — — — — (7)5 — — — 28 
Corporate - privately placed50 — — — — — 1 — — — 51 
ABS71 — — — — — 27 — — (1)97 
Total fixed income securities158 (2)— — — (7)33 — — (1)181 
Equity securities393 12 — — — — 5 (2)— — 408 
Short-term investments1 — — — — — 1 — — — 2 
Other investments2 — — — — — — — — — 2 
Other assets121 2 — — — — — — — — 123 
Assets held for sale
— — — — — 7 — — — — 7 
Total recurring Level 3 assets$675 $12 $— $— $— $— $39 $(2)$— $(1)$723 
Rollforward of Level 3 assets and liabilities held at fair value during the nine month period ended September 30, 2024
Balance as of December 31, 2023Total gains (losses)
 included in:		 Transfers
Transfers (to) from held for sale
Balance as of September 30, 2024
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$11 $(2)$— $— $— $— $— $(2)$— $(2)$5 
Corporate - public26 1 1 — — (7)16 (9)— — 28 
Corporate - privately placed58 (6)— — — — 1 (2)— — 51 
ABS58 — — — — — 41 — — (2)97 
Total fixed income securities153 (7)1 — — (7)58 (13)— (4)181 
Equity securities402 18 — — — — 14 (26)— — 408 
Short-term investments1 — — — — — 22 (20)— (1)2 
Other investments2 — — — — — — — — — 2 
Other assets118 5 — — — — — — — — 123 
Assets held for sale— — — — — 7 — — — — 7 
Total recurring Level 3 assets$676 $16 $1 $— $— $— $94 $(59)$— $(5)$723 
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended September 30, 2023
Balance as of
 June 30, 2023		Total gains (losses)
 included in:		 Transfers Balance as of
 September 30, 2023
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$12 $— $— $— $— $— $(1)$— $— $11 
Corporate - public26 — (1)— — — — — — 25 
Corporate - privately placed60 — (1)— — — — — — 59 
ABS34 — — — — 4 — — — 38 
Total fixed income securities132 — (2)— — 4 (1)— — 133 
Equity securities381 15 — — — — (13)— — 383 
Short-term investments6 — — — — 10 — — — 16 
Other investments2 — — — — — — — — 2 
Other assets104 9 — — — — — — — 113 
Total recurring Level 3 assets$625 $24 $(2)$— $— $14 $(14)$— $— $647 
Rollforward of Level 3 assets and liabilities held at fair value during the nine month period ended September 30, 2023
Balance as of
December 31, 2022		Total gains (losses)
 included in:		 Transfers Balance as of September 30, 2023
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$21 $3 $(1)$— $— $— $(10)$— $(2)$11 
Corporate - public69 (1)1 — — — (44)— — 25 
Corporate - privately placed55 (11)— 16 — 1 (2)— — 59 
ABS28 — — — — 11 — — (1)38 
Total fixed income securities173 (9)— 16 — 12 (56)— (3)133 
Equity securities333 22 — — — 70 (42)— — 383 
Short-term investments6 — — — — 10 — — — 16 
Other investments3 (1)— — — — — — — 2 
Other assets103 10 — — — — — — — 113 
Total recurring Level 3 assets$618 $22 $— $16 $— $92 $(98)$— $(3)$647 
Total Level 3 gains (losses) included in net income
Three months ended September 30,Nine months ended September 30,
($ in millions)2024202320242023
Net investment income$— $(1)$1 $(3)
Net gains (losses) on investments and derivatives (1)
10 16 10 15 
Operating costs and expenses (1)
2 9 5 10 
(1)Prior to the first quarter of 2024, Level 3 gains (losses) included in operating costs and expenses were reported in this table within net gains (losses) on investments and derivatives. Historical results have been updated to conform with this presentation.
Schedule of Valuation Changes Included in Net Income and OCI for Level 3 Assets and Liabilities
Valuation changes included in net income and OCI for Level 3 assets and liabilities still held
Three months ended September 30,Nine months ended September 30,
($ in millions)2024202320242023
Assets    
Fixed income securities:
Municipal$(2)$— $(2)$— 
Corporate - public— — 1 — 
Corporate - privately placed— — (6)(11)
Total fixed income securities(2)— (7)(11)
Equity securities12 15 23 21 
Other investments— — — (1)
Other assets2 9 5 10 
Total recurring Level 3 assets$12 $24 $21 $19 
Total included in net income$12 $24 $21 $19 
Components of net income
Net investment income$— $(1)$1 $(3)
Net gains (losses) on investments and derivatives10 16 15 12 
Operating costs and expenses2 9 5 10 
Total included in net income$12 $24 $21 $19 
Assets
Corporate - public$— $(1)$1 $— 
Corporate - privately placed— (1)— — 
Changes in unrealized net capital gains and losses reported in OCI$— $(2)$1 $— 
Schedule of Financial Instruments Not Carried at Fair Value
Financial instruments not carried at fair value
($ in millions)September 30, 2024December 31, 2023
Financial assetsFair value levelAmortized cost, net
Fair
value
Amortized cost, net
Fair
value
Mortgage loansLevel 3$765 $736 $822 $769 
Bank loansLevel 3187 197 224 238 
Financial liabilitiesFair value level
Carrying value (2)
Fair
value
Carrying value (2)
Fair
value
Contractholder funds on investment contracts (1)
Level 3$— $— $46 $46 
DebtLevel 28,083 8,027 7,942 7,655 
Liability for collateralLevel 22,021 2,021 1,891 1,891 
Liabilities held for sale
Level 341 41 — — 
(1)As of September 30, 2024, all contractholder funds on investment contracts are held for sale.
(2)Represents the amounts reported on the Condensed Consolidated Statements of Financial Position.