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Fair Value of Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
Assets and liabilities measured at fair value
September 30, 2025
($ 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$13,516 $9 $—  $13,525 
Municipal— 6,223 3  6,226 
Corporate - public— 21,853 34  21,887 
Corporate - privately placed— 10,837 156 10,993 
Foreign government— 1,435 —  1,435 
ABS— 962 24 986 
MBS
— 2,045 89 2,134 
Total fixed income securities13,516 43,364 306  57,186 
Equity securities (1)
4,570 367 310  5,247 
Short-term investments3,543 5,191 9  8,743 
Other investments— 14 1 $(2)13 
Other assets1 — 140  141 
Total recurring basis assets21,630 48,936 766 (2)71,330 
Non-recurring basis
— — 100  100 
Total assets at fair value$21,630 $48,936 $866 $(2)$71,430 
Investments reported at NAV838 
Total$72,268 
Liabilities     
Other liabilities$— $(31)$(1)$30 $(2)
Total recurring basis liabilities— (31)(1)30 (2)
Total liabilities at fair value$— $(31)$(1)$30 $(2)
(1)Excludes $91 million of securities using the measurement alternative or the equity method of accounting.
Assets and liabilities measured at fair value
December 31, 2024
($ 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$11,099 $9 $—  $11,108 
Municipal— 8,840 2  8,842 
Corporate - public— 21,211 22  21,233 
Corporate - privately placed— 8,849 110 8,959 
Foreign government— 1,364 —  1,364 
ABS— 1,119 26 1,145 
MBS
— 8 88 96 
Total fixed income securities11,099 41,400 248  52,747 
Equity securities (1)
3,600 306 407  4,313 
Short-term investments2,016 2,516 5  4,537 
Other investments— 21 1 $(19)3 
Other assets— — 134  134 
Assets held for sale241 1,536 7 1,784 
Total recurring basis assets16,956 45,779 802 (19)63,518 
Non-recurring basis— — 3  3 
Total assets at fair value$16,956 $45,779 $805 $(19)$63,521 
Investments reported at NAV1,096 
Total$64,617 
Liabilities     
Other liabilities$(1)$(1)$— $1 $(1)
Total recurring basis liabilities(1)(1)— 1 (1)
Total liabilities at fair value$(1)$(1)$— $1 $(1)
(1)Excludes $150 million of preferred stock measured at cost.
Schedule of Rollforward of Level 3 Assets and Liabilities Held at Fair Value
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended September 30, 2025
Balance as of
 June 30, 2025		Total gains (losses)
included in:		 Transfers Balance as of
 September 30, 2025
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesSettlements
Assets
Fixed income securities:
Municipal$2 $— $— $1 $— $— $— $— $3 
Corporate - public35 — — — — — (1)— 34 
Corporate - privately placed109 — 1 — — 48 — (2)156 
ABS39 — — — (15)— — — 24 
MBS
88 — — — — 2 — (1)89 
Total fixed income securities273 — 1 1 (15)50 (1)(3)306 
Equity securities358 (1)— — (48)3 (2)— 310 
Short-term investments4 — — — — 6 (1)— 9 
Other investments1 — — — — — — — 1 
Other assets137 3 — — — — — — 140 
Total recurring Level 3 assets773 2 1 1 (63)59 (4)(3)766 
Liabilities
Other liabilities
(1)— — — — — — — (1)
Total recurring Level 3 liabilities$(1)$— $— $— $— $— $— $— $(1)
Rollforward of Level 3 assets and liabilities held at fair value during the nine month period ended September 30, 2025
Balance as of
 December 31, 2024		Total gains (losses)
included in:		 Transfers Balance as of
 September 30, 2025
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesSettlements
Assets
Fixed income securities:
Municipal$2 $— $— $1 $— $— $— $— $3 
Corporate - public22 (1)1 — (7)20 (1)— 34 
Corporate - privately placed110 (1)2 — — 48 — (3)156 
ABS26 — — 26 (41)15 — (2)24 
MBS
88 — — — — 2 — (1)89 
Total fixed income securities248 (2)3 27 (48)85 (1)(6)306 
Equity securities407 29 — — (48)8 (86)— 310 
Short-term investments5 — — — — 9 (5)— 9 
Other investments1 — — — — — — — 1 
Other assets134 6 — — — — — — 140 
Assets held for sale
7 — 1 — — — (8)— — 
Total recurring Level 3 assets802 33 4 27 (96)102 (100)(6)766 
Liabilities— 
Other liabilities
— (1)— — — — — — (1)
Total recurring Level 3 liabilities$— $(1)$— $— $— $— $— $— $(1)
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended September 30, 2024
Balance as of
 June 30, 2024		Total gains (losses)
 included in:		 Transfers
Transfers (to) from held for sale
Balance as of
 September 30, 2024
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesSettlements
Assets
Fixed income securities:
Municipal$7 $(2)$— $— $— $— $— $— $— $5 
Corporate - public30 — — — — (7)5 — — 28 
Corporate - privately placed50 — — — — — 1 — — 51 
ABS and MBS
71 — — — — — 27 — (1)97 
Total fixed income securities158 (2)— — — (7)33 — (1)181 
Equity securities393 12 — — — — 5 (2)— 408 
Short-term investments1 — — — — — 1 — — 2 
Other investments2 — — — — — — — — 2 
Other assets121 2 — — — — — — — 123 
Assets held for sale— — — — — 7 — — — 7 
Total recurring Level 3 assets675 12 — — — — 39 (2)(1)723 
Liabilities
Total recurring Level 3 liabilities$— $— $— $— $— $— $— $— $— $— 
Rollforward of Level 3 assets and liabilities held at fair value during the nine month period ended September 30, 2024
Balance as of
 December 31, 2023		Total gains (losses)
 included in:		 Transfers
Transfers (to) from held for sale
Balance as of
 September 30, 2024
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesSettlements
Assets
Fixed income securities:
Municipal$11 $(2)$— $— $— $— $— $(2)$(2)$5 
Corporate - public26 1 1 — — (7)16 (9)— 28 
Corporate - privately placed58 (6)— — — — 1 (2)— 51 
ABS and MBS
58 — — — — — 41 — (2)97 
Total fixed income securities153 (7)1 — — (7)58 (13)(4)181 
Equity securities402 18 — — — — 14 (26)— 408 
Short-term investments1 — — — — — 22 (20)(1)2 
Other investments2 — — — — — — — — 2 
Other assets118 5 — — — — — — — 123 
Assets held for sale— — — — — 7 — — — 7 
Total recurring Level 3 assets676 16 1 — — — 94 (59)(5)723 
Liabilities
Total recurring Level 3 liabilities$— $— $— $— $— $— $— $— $— $— 
Total Level 3 gains (losses) included in net income
Three months ended September 30,Nine months ended September 30,
($ in millions)2025202420252024
Net investment income$1 $— $1 $1 
Net gains (losses) on investments and derivatives
(2)10 25 10 
Operating costs and expenses
3 2 6 5 
Schedule of Valuation Changes Included in Net Income and OCI for Level 3 Assets and Liabilities
Valuation changes included in net income and OCI for Level 3 assets and liabilities still held
Three months ended September 30,Nine months ended September 30,
($ in millions)2025202420252024
Assets    
Fixed income securities:
Municipal$— $(2)$— $(2)
Corporate - public— — (1)1 
Corporate - privately placed— — — (6)
Total fixed income securities— (2)(1)(7)
Equity securities(2)12 27 23 
Other assets3 2 6 5 
Total recurring Level 3 assets$1 $12 $32 $21 
Liabilities    
Other liabilities$— $— $(1)$— 
Total recurring Level 3 liabilities— — (1)— 
Total included in net income$1 $12 $31 $21 
Components of net income
Net investment income$1 $— $1 $1 
Net gains (losses) on investments and derivatives(3)10 24 15 
Operating costs and expenses3 2 6 5 
Total included in net income$1 $12 $31 $21 
Assets
Corporate - public$— $— $1 $1 
Corporate - privately placed1 — 2 — 
Changes in unrealized net capital gains and losses reported in OCI$1 $— $3 $1 
Schedule of Financial Instruments Not Carried at Fair Value
Financial instruments not carried at fair value
($ in millions)September 30, 2025December 31, 2024
Financial assetsFair value level
Amortized cost, net (1)
Fair
value
Amortized cost, net (1)
Fair
value
Mortgage loansLevel 3$831 $818 $784 $746 
Bank loansLevel 3383 394 201 207 
Financial liabilitiesFair value level
Carrying value (1)
Fair
value
Carrying value (1)
Fair
value
DebtLevel 2$8,089 $7,997 $8,085 $7,740 
Liability for collateralLevel 21,859 1,859 2,041 2,041 
Liabilities held for sale
Level 3— — 40 40 
(1)Represents the amounts reported on the Condensed Consolidated Statements of Financial Position.