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Fair Value (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Fair value hierarchy
The following table presents the Company’s financial assets and liabilities measured at fair value by level at September 30, 2023:
  Estimated Fair Value Measurements Using:
 Estimated
Fair
Value		Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets measured at fair value:    
Available for sale securities:    
Fixed maturities:    
Corporate bonds$10,064 $— $9,940 $124 
U.S. government and government agencies5,662 5,640 22 — 
Asset backed securities2,342 — 2,342 — 
Non-U.S. government securities2,052 — 2,052 — 
Commercial mortgage backed securities1,102 — 1,102 — 
Residential mortgage backed securities965 — 965 — 
Municipal bonds298 — 298 — 
Total22,485 5,640 16,721 124 
Short-term investments1,682 1,635 47 — 
Equity securities, at fair value894 860 29 5 
Derivative instruments (2)192 — 192 — 
Residential mortgage loans2 — 2 — 
Fair value option:
Corporate bonds620 — 620 — 
Non-U.S. government bonds15 — 15 — 
Asset backed securities2 — 2 — 
U.S. government and government agencies7 7 — — 
Short-term investments13 1 8 4 
Equity securities7 3 — 4 
Other investments341 — 241 100 
Other investments measured at net asset value (1)1,063 
Total2,068 11 886 108 
Total assets measured at fair value$27,323 $8,146 $17,877 $237 
Liabilities measured at fair value:    
Other liabilities$(21)$— $— $(21)
Derivative instruments (2)(114)— (114)— 
Total liabilities measured at fair value$(135)$— $(114)$(21)

(1)    In accordance with applicable accounting guidance, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.
(2)    See note 9.
The following table presents the Company’s financial assets and liabilities measured at fair value by level at December 31, 2022:
  Estimated Fair Value Measurements Using:
 Estimated
Fair
Value		Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets measured at fair value:
Available for sale securities:
Fixed maturities:
Corporate bonds$8,020 $— $7,899 $121 
U.S. government and government agencies5,162 5,145 17 — 
Asset backed securities1,927 — 1,927 — 
Non-U.S. government securities2,313 — 2,313 — 
Commercial mortgage backed securities1,047 — 1,047 — 
Residential mortgage backed securities795 — 795 — 
Municipal bonds419 — 419 — 
Total19,683 5,145 14,417 121 
Short-term investments1,332 1,198 134 — 
Equity securities, at fair value860 829 28 3 
Derivative instruments (2)149 — 149 — 
Residential mortgage loans2 — 2 — 
Fair value option:
Corporate bonds543 — 543 — 
Non-U.S. government bonds4 — 4 — 
Asset backed securities2 — 2 — 
U.S. government and government agencies5 5 — — 
Short-term investments33 1 32 — 
Equity securities14 10 — 4 
Other investments196 — 163 33 
Other investments measured at net asset value (1)847 
Total1,644 16 744 37 
Total assets measured at fair value$23,670 $7,188 $15,474 $161 
Liabilities measured at fair value:
Other liabilities$(14)$— $— $(14)
Derivative instruments (2)(76)— (76)— 
Total liabilities measured at fair value$(90)$— $(76)$(14)

(1)    In accordance with applicable accounting guidance, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets.
(2)    See note 9.
Rollforward of Level 3 investments
The following table presents a reconciliation of the beginning and ending balances for all financial assets and liabilities measured at fair value on a recurring basis using Level 3 inputs:
AssetsLiabilities
sAvailable For SaleFair Value OptionFair Value
 Structured Securities (1)Corporate
Bonds		Other
Investments		Short-tem
Investments		Equity
Securities		Equity
Securities		Other Liabilities
Three Months Ended September 30, 2023  
Balance at beginning of period$— $100 $86 $— $4 $5 $(19)
Total gains or (losses) (realized/unrealized)
Included in earnings (2)— — — — — — — 
Included in other comprehensive income— (1)— — — — — 
Purchases, issuances, sales and settlements
Purchases— 25 29 4 — — — 
Issuances— — — — — — (4)
Sales— — (6)— — — — 
Settlements— — (9)— — — 2 
Transfers in and/or out of Level 3— — — — — — — 
Balance at end of period$— $124 $100 $4 $4 $5 $(21)
Three Months Ended September 30, 2022  
Balance at beginning of period$3 $4 $34 $— $5 $3 $(17)
Total gains or (losses) (realized/unrealized)
Included in earnings (2)(1)— — — — — — 
Included in other comprehensive income— — — — — — 1 
Purchases, issuances, sales and settlements
Purchases— — 1 — — — — 
Issuances— — — — — — — 
Sales (2)(4)(1)— — — — 
Settlements— — — — — — 2 
Transfers in and/or out of Level 3— — — — — — — 
Balance at end of period$— $— $34 $— $5 $3 $(14)
Nine Months Ended September 30, 2023  
Balance at beginning of year$— $121 $33 $— $4 $4 $(14)
Total gains or (losses) (realized/unrealized)
Included in earnings (2)— 1 (1)— — — — 
Included in other comprehensive income— (1)— — — — — 
Purchases, issuances, sales and settlements
Purchases— 68 87 4 — 1 — 
Issuances— — — — — — (9)
Sales — — (10)— — — — 
Settlements— (65)(9)— — — 2 
Transfers in and/or out of Level 3— — — — — — — 
Balance at end of period$— $124 $100 $4 $4 $5 $(21)
Nine Months Ended September 30, 2022  
Balance at beginning of year$3 $— $28 $— $5 $3 $(17)
Total gains or (losses) (realized/unrealized)
Included in earnings (2)(1)— — — — — — 
Included in other comprehensive income— — — — — — 1 
Purchases, issuances, sales and settlements
Purchases— — 12 — — — — 
Issuances— — — — — — — 
Sales(2)(4)(3)— — — — 
Settlements— — (3)— — — 2 
Transfers in and/or out of Level 3— 4 — — — — — 
Balance at end of period$— $— $34 $— $5 $3 $(14)
(1)    Includes asset backed securities, residential mortgage backed securities and commercial mortgage backed securities.
(2)    Gains or losses were included in net realized gains (losses).