Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value and notional amount of derivatives

The following table summarizes information on the fair values and notional values of the Company’s derivative instruments:

	Estimated Fair Value
	Asset Derivatives (1)		Liability Derivatives (1)		Notional Value (2)
September 30, 2025
Futures contracts	$	98	$	(39)	$	5,749
Foreign currency forward contracts	54		(20)		1,945
Other (3)	27		(12)		89
Total	$	179	$	(71)
December 31, 2024
Futures contracts	$	78	$	(46)	$	4,781
Foreign currency forward contracts	90		(48)		1,698
Other (3)	38		(21)		236
Total	$	206	$	(115)

(1)    The fair value of asset derivatives are included in ‘other assets’ and the fair value of liability derivatives are included in ‘other liabilities.’

(2)    Represents the absolute notional value of all outstanding contracts, consisting of long and short positions.

(3)    Includes swaps, options and other derivatives contracts.

Summary of net realized gains (losses) recorded in the consolidated statements of income

Realized and unrealized contract gains or losses on the Company’s derivative instruments are reflected in ‘net realized gains (losses)’ in the consolidated statements of income, as summarized in the following table:

Derivatives not designated as	September 30,
hedging instruments:	2025		2024
Three Months Ended
Net realized gains (losses):
Futures contracts	$	37	$	86
Foreign currency forward contracts	(12)		31
Other (1)	5		8
Total	$	30	$	125
Nine Months Ended
Net realized gains (losses):
Futures contracts	$	176	$	69
Foreign currency forward contracts	71		32
Other (1)	45		15
Total	$	292	$	116

(1)    Includes realized gains or losses on swaps, options and other derivatives contracts.