American International (AIG) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 03, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-8787
Entity Registrant Name	American International Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2592361
Entity Address, Address Line One	1271 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10020
City Area Code	212
Local Phone Number	770-7000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		760,416,143
Document Fiscal Year Focus	2022
Entity Central Index Key	0000005272
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock, Par Value $2.50 Per Share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, Par Value $2.50 Per Share
Trading Symbol	AIG
Security Exchange Name	NYSE
4.875% Series A-3 Junior Subordinated Debentures
Document Information [Line Items]
Title of 12(b) Security	4.875% Series A-3 Junior Subordinated Debentures
Trading Symbol	AIG 67EU
Security Exchange Name	NYSE
Stock Purchase Rights
Document Information [Line Items]
Title of 12(b) Security	Stock Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NYSE
Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series A 5.85% Non-Cumulative Perpetual Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series A 5.85% Non-Cumulative Perpetual Preferred Stock
Trading Symbol	AIG PRA
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Fixed maturity securities:
Bonds available for sale, at fair value, net of allowance for credit losses	[1]	$ 232,735	$ 277,202
Other bond securities	[1]	6,898	6,278
Equity securities, at fair value (See Note 5)	[1]	629	739
Mortgage and other loans receivable	[1]	49,314	46,048
Other invested assets	[1]	16,040	15,668
Short-term investments	[1]	9,446	13,357
Total investments		315,062	359,292
Cash	[1]	2,378	2,198
Accrued investment income	[1]	2,232	2,239
Premiums and other receivables, net of allowance for credit losses and disputes of $180 in 2022 and $185 in 2021		15,000	12,409
Deferred income taxes		14,353	11,714
Deferred policy acquisition costs		14,838	10,514
Other assets	[1]	13,863	14,351
Separate account assets, at fair value		86,735	109,111
Total assets		538,938	596,112
Liabilities:
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses of $14 in 2022 and $14 in 2021		76,739	79,026
Unearned premiums		21,120	19,313
Future policy benefits for life and accident and health insurance contracts		57,676	59,950
Policyholder contract deposits (portion measured at fair value: 2022 - $6,997; 2021 - $9,736)		156,557	156,686
Other policyholder funds		3,835	3,476
Fortitude Re funds withheld payable (portion measured at fair value: 2022 - $(638); 2021 - $5,922)		32,970	40,771
Other liabilities (portion measured at fair value: 2022 - $280; 2021 - $586)	[1]	28,044	28,704
Separate account liabilities		86,735	109,111
Total liabilities		492,114	527,200
Contingencies, commitments and guarantees (See Note 11)
AIG shareholders’ equity:
Series A non-cumulative preferred stock and additional paid in capital, $5.00 par value; 100,000,000 shares authorized; shares issued: 2022 - 20,000 and 2021 - 20,000; liquidation preference $500		485	485
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2022 - 1,906,671,492 and 2021 - 1,906,671,492		4,766	4,766
Treasury stock, at cost; 2022 - 1,135,399,976 shares; 2021 - 1,087,984,129 shares of common stock		(54,480)	(51,618)
Additional paid-in capital		81,679	81,851
Retained earnings		30,550	23,785
Accumulated other comprehensive income (loss)		(17,656)	6,687
Total AIG shareholders’ equity		45,344	65,956
Non-redeemable noncontrolling interests		1,480	2,956
Total equity		46,824	68,912
Total liabilities and equity		538,938	596,112
Fortitude RE
Fixed maturity securities:
Reinsurance assets, net of allowance for credit losses and disputes		32,965	33,365
Excluding Fortitude
Fixed maturity securities:
Reinsurance assets, net of allowance for credit losses and disputes		41,512	40,919
Consolidated Entities, Excluding Consolidated Investments
Liabilities:
Long-term debt		22,186	23,741
Consolidated Investments, Including Variable Interest Entities, Primarily Beneficiary
Liabilities:
Long-term debt	[1]	$ 6,252	$ 6,422
[1]See Note 8 for details of balances associated with variable interest entities.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Assets:
Bonds available for sale, allowance for credit losses		$ 175	$ 98
Bonds available for sale, amortized cost		252,877	259,210
Mortgage and other loans receivable, allowance for credit losses		603	629
Other invested assets	[1]	16,040	15,668
Short-term investments	[1]	9,446	13,357
Premiums and other receivables, allowance for credit losses and disputes		180	185
Other assets, allowance for credit losses		49	49
Other assets	[1]	13,863	14,351
Liabilities:
Liability for unpaid losses and loss adjustment expenses, allowance for credit losses		14	14
Policyholder contract deposits		156,557	156,686
Fortitude Re funds withheld payable		$ 32,970	$ 40,771
AIG shareholders’ equity:
Preferred stock, par value (in dollars per share)		$ 5	$ 5
Preferred stock, shares authorized (in shares)		100,000,000	100,000,000
Preferred stock, shares issued (in shares)		20,000	20,000
Preferred stock liquidation preference		$ 500	$ 500
Common stock, par value (in dollars per share)		$ 2.50	$ 2.50
Common stock, shares authorized (in shares)		5,000,000,000	5,000,000,000
Common stock, shares issued (in shares)		1,906,671,492	1,906,671,492
Treasury stock, shares of common stock (in shares)		1,135,399,976	1,087,984,129
Fortitude RE
Assets:
Reinsurance asset, allowance for credit loss		$ 0	$ 0
Excluding Fortitude
Assets:
Reinsurance asset, allowance for credit loss		342	333
Short-term Investments
Assets:
Restricted cash		281	197
Other assets
Assets:
Restricted cash		69	32
Recurring Basis
Assets:
Other invested assets		11,709	10,504
Short-term investments		3,431	4,426
Other assets		464	957
Liabilities:
Policyholder contract deposits		6,997	9,736
Fortitude Re funds withheld payable		(638)
Fortitude Re funds withheld payable			5,922
Other liabilities, portion measured at fair value		280	586
Long-term debt, portion measured at fair value		$ 1,664	$ 1,871
[1]See Note 8 for details of balances associated with variable interest entities.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Premiums	$ 7,516,000,000	$ 7,914,000,000	$ 14,626,000,000	$ 14,421,000,000
Policy fees	742,000,000	771,000,000	1,506,000,000	1,555,000,000
Total net investment income	2,604,000,000	3,675,000,000	5,841,000,000	7,332,000,000
Total net realized gains (losses)	3,392,000,000	(1,926,000,000)	7,811,000,000	1,324,000,000
Other income	187,000,000	247,000,000	465,000,000	503,000,000
Total revenues	14,441,000,000	10,681,000,000	30,249,000,000	25,135,000,000
Benefits, losses and expenses:
Policyholder benefits and losses incurred	5,123,000,000	6,084,000,000	10,378,000,000	11,223,000,000
Interest credited to policyholder account balances	910,000,000	872,000,000	1,787,000,000	1,740,000,000
Amortization of deferred policy acquisition costs	1,298,000,000	915,000,000	2,735,000,000	2,219,000,000
General operating and other expenses	2,223,000,000	2,218,000,000	4,404,000,000	4,306,000,000
Interest expense	266,000,000	338,000,000	529,000,000	680,000,000
Loss on extinguishment of debt	299,000,000	106,000,000	299,000,000	98,000,000
Net (gain) loss on divestitures	1,000,000	1,000,000	(39,000,000)	(6,000,000)
Total benefits, losses and expenses	10,120,000,000	10,534,000,000	20,093,000,000	20,260,000,000
Income from continuing operations before income tax expense (benefit)	4,321,000,000	147,000,000	10,156,000,000	4,875,000,000
Income tax expense (benefit)	928,000,000	(3,000,000)	2,107,000,000	795,000,000
Income from continuing operations	3,393,000,000	150,000,000	8,049,000,000	4,080,000,000
Loss from discontinued operations, net of income tax expense	(1,000,000)	0	(1,000,000)	0
Net income	3,392,000,000	150,000,000	8,048,000,000	4,080,000,000
Less:
Net income from continuing operations attributable to noncontrolling interests	356,000,000	51,000,000	752,000,000	105,000,000
Net income attributable to AIG	3,036,000,000	99,000,000	7,296,000,000	3,975,000,000
Less: Dividends on preferred stock	8,000,000	8,000,000	15,000,000	15,000,000
Net income attributable to AIG common shareholders	$ 3,028,000,000	$ 91,000,000	$ 7,281,000,000	$ 3,960,000,000
Basic:
Income from continuing operations (in dollars per share)	$ 3.83	$ 0.11	$ 9.06	$ 4.58
Income from discontinued operations (in dollars per share)	0	0	0	0
Net income attributable to AIG common shareholders (in dollars per share)	3.83	0.11	9.06	4.58
Diluted:
Income from continuing operations (in dollars per share)	3.78	0.11	8.95	4.53
Income from discontinued operations (in dollars per share)	0	0	0	0
Net income attributable to AIG common shareholders (in dollars per share)	$ 3.78	$ 0.11	$ 8.95	$ 4.53
Weighted average shares outstanding:
Basic (in shares)	790,897,301	862,930,931	803,532,447	865,508,343
Diluted (in shares)	800,730,746	872,877,303	813,298,338	874,566,280
Excluding Fortitude Re Funds Withheld Assets
Revenues:
Total net investment income	$ 2,416,000,000	$ 3,168,000,000	$ 5,362,000,000	$ 6,339,000,000
Total net realized gains (losses)	702,000,000	(43,000,000)	1,943,000,000	652,000,000
Fortitude Re funds withheld assets
Revenues:
Total net investment income	188,000,000	507,000,000	479,000,000	993,000,000
Total net realized gains (losses)	(86,000,000)	173,000,000	(226,000,000)	346,000,000
Fortitude Re funds withheld embedded derivative
Revenues:
Total net realized gains (losses)	$ 2,776,000,000	$ (2,056,000,000)	$ 6,094,000,000	$ 326,000,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 3,392	$ 150	$ 8,048	$ 4,080
Other comprehensive income (loss), net of tax
Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken	40	4	(5)	37
Change in unrealized appreciation (depreciation) of all other investments	(12,538)	3,710	(26,145)	(3,489)
Change in foreign currency translation adjustments	(281)	14	(286)	139
Change in retirement plan liabilities adjustment	16	14	25	11
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	(4)	0	(4)	(1)
Other comprehensive income (loss)	(12,767)	3,742	(26,415)	(3,303)
Comprehensive income (loss)	(9,375)	3,892	(18,367)	777
Comprehensive income (loss) attributable to noncontrolling interests	(655)	50	(1,320)	104
Comprehensive income (loss) attributable to AIG	$ (8,720)	$ 3,842	$ (17,047)	$ 673

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (unaudited) - USD ($) $ in Millions	Total	Total AIG Shareholders' Equity	Preferred Stock and Additional Paid-in Capital	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non- redeemable Non- controlling Interests
Balance, beginning of period at Dec. 31, 2020	$ 67,199	$ 66,362	$ 485	$ 4,766	$ (49,322)	$ 81,418	$ 15,504	$ 13,511	$ 837
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans	(82)	(82)			178	(260)
Purchase of common stock	(592)	(592)			(592)
Net income attributable to AIG or noncontrolling interests	4,080	3,975					3,975		105
Dividends on preferred stock	(15)	(15)					(15)
Dividends on common stock	(550)	(550)					(550)
Other comprehensive loss	(3,303)	(3,302)						(3,302)	(1)
Net decrease due to divestitures and acquisitions	58								58
Contributions from noncontrolling interests	7								7
Distributions to noncontrolling interests	(181)								(181)
Other	287	287			102	164	21
Balance, end of period at Jun. 30, 2021	66,908	66,083	485	4,766	(49,634)	81,322	18,935	10,209	825
Balance, beginning of period at Mar. 31, 2021	63,560	62,679	485	4,766	(49,412)	81,253	19,121	6,466	881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans	2	2			7	(5)
Purchase of common stock	(230)	(230)			(230)
Net income attributable to AIG or noncontrolling interests	150	99					99		51
Dividends on preferred stock	(8)	(8)					(8)
Dividends on common stock	(274)	(274)					(274)
Other comprehensive loss	3,742	3,743						3,743	(1)
Net decrease due to divestitures and acquisitions	(17)								(17)
Contributions from noncontrolling interests	2								2
Distributions to noncontrolling interests	(91)								(91)
Other	72	72			1	74	(3)
Balance, end of period at Jun. 30, 2021	66,908	66,083	485	4,766	(49,634)	81,322	18,935	10,209	825
Balance, beginning of period at Dec. 31, 2021	68,912	65,956	485	4,766	(51,618)	81,851	23,785	6,687	2,956
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans	(85)	(85)			240	(325)
Purchase of common stock	(3,102)	(3,102)			(3,102)
Net income attributable to AIG or noncontrolling interests	8,048	7,296					7,296		752
Dividends on preferred stock	(15)	(15)					(15)
Dividends on common stock	(506)	(506)					(506)
Other comprehensive loss	(26,415)	(24,343)						(24,343)	(2,072)
Contributions from noncontrolling interests	5								5
Distributions to noncontrolling interests	(167)								(167)
Other	149	143				153	(10)		6
Balance, end of period at Jun. 30, 2022	46,824	45,344	485	4,766	(54,480)	81,679	30,550	(17,656)	1,480
Balance, beginning of period at Mar. 31, 2022	58,103	55,944	485	4,766	(52,791)	81,620	27,764	(5,900)	2,159
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans	5	5			10	(5)
Purchase of common stock	(1,699)	(1,699)			(1,699)
Net income attributable to AIG or noncontrolling interests	3,392	3,036					3,036		356
Dividends on preferred stock	(8)	(8)					(8)
Dividends on common stock	(248)	(248)					(248)
Other comprehensive loss	(12,767)	(11,756)						(11,756)	(1,011)
Contributions from noncontrolling interests	5								5
Distributions to noncontrolling interests	(35)								(35)
Other	76	70				64	6		6
Balance, end of period at Jun. 30, 2022	$ 46,824	$ 45,344	$ 485	$ 4,766	$ (54,480)	$ 81,679	$ 30,550	$ (17,656)	$ 1,480

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)		6 Months Ended
		Jun. 30, 2022		Jun. 30, 2021
Cash flows from operating activities:
Net income		$ 8,048,000,000		$ 4,080,000,000
Loss from discontinued operations, net of income taxes		1,000,000		0
Noncash revenues, expenses, gains and losses included in income (loss):
Net (gains) losses on sales of securities available for sale and other assets		749,000,000		(579,000,000)
Net (gain) loss on divestitures		(39,000,000)		(6,000,000)
Loss on extinguishment of debt		299,000,000		98,000,000
Unrealized gains in earnings - net		(3,238,000,000)		(1,267,000,000)
Equity in (income) loss from equity method investments, net of dividends or distributions		(180,000,000)		31,000,000
Depreciation and other amortization		2,698,000,000		2,370,000,000
Impairments of assets		1,000,000		25,000,000
Changes in operating assets and liabilities:
Insurance reserves		1,402,000,000		4,889,000,000
Premiums and other receivables and payables - net		(7,646,000,000)		(1,381,000,000)
Reinsurance assets, net		20,000,000		(1,928,000,000)
Capitalization of deferred policy acquisition costs		(2,543,000,000)		(2,688,000,000)
Current and deferred income taxes - net		1,842,000,000		199,000,000
Other, net		(783,000,000)		(1,033,000,000)
Total adjustments		(7,418,000,000)		(1,270,000,000)
Net cash provided by operating activities		631,000,000		2,810,000,000
Sales or distributions of:
Available for sale securities		14,660,000,000		12,559,000,000
Other securities		769,000,000		465,000,000
Other invested assets		1,565,000,000		1,807,000,000
Maturities of fixed maturity securities available for sale		10,416,000,000		17,749,000,000
Principal payments received on and sales of mortgage and other loans receivable		3,542,000,000		4,115,000,000
Purchases of:
Available for sale securities		(21,832,000,000)		(34,667,000,000)
Other securities		(2,143,000,000)		(95,000,000)
Other invested assets		(1,023,000,000)		(1,558,000,000)
Mortgage and other loans receivable		(7,592,000,000)		(3,719,000,000)
Net change in short-term investments		3,787,000,000		3,065,000,000
Other, net		385,000,000		(1,366,000,000)
Net cash provided by (used in) investing activities		2,534,000,000		(1,645,000,000)
Proceeds from (payments for)
Policyholder contract deposits		12,457,000,000		13,172,000,000
Policyholder contract withdrawals		(9,467,000,000)		(11,214,000,000)
Issuance of debt		6,476,000,000		54,000,000
Repayments of debt		(7,600,000,000)		(1,839,000,000)
Purchase of common stock		(3,105,000,000)		(592,000,000)
Dividends paid on preferred stock		(15,000,000)		(15,000,000)
Dividends paid on common stock		(506,000,000)		(550,000,000)
Other, net		(900,000,000)		(298,000,000)
Net cash used in financing activities		(2,793,000,000)		(1,300,000,000)
Effect of exchange rate changes on cash and restricted cash		(72,000,000)		(34,000,000)
Net increase (decrease) in cash and restricted cash		301,000,000		(169,000,000)
Cash and restricted cash at beginning of year		2,427,000,000		3,230,000,000
Cash and restricted cash at end of period		2,728,000,000		3,061,000,000
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		2,378,000,000	[1]	2,760,000,000
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows		2,728,000,000		3,061,000,000
Cash paid during the period for:
Interest		574,000,000		592,000,000
Taxes		265,000,000		596,000,000
Non-cash investing activities:
Fixed maturity securities available for sale received in connection with pension risk transfer transactions		0		477,000,000
Fixed maturity securities received in connection with reinsurance transactions		2,000,000		161,000,000
Fixed maturity securities transferred in connection with reinsurance transactions		(212,000,000)		(695,000,000)
Non-cash financing activities:
Interest credited to policyholder contract deposits included in financing activities		1,728,000,000		1,783,000,000
Fee income debited to policyholder contract deposits included in financing activities		(844,000,000)		(847,000,000)
Consolidated VIE
Proceeds from (payments for)
Issuance of debt		808,000,000		2,542,000,000
Repayments of debt		(941,000,000)		(2,560,000,000)
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		86,000,000
Short-term investments
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[2]	281,000,000		59,000,000
Other assets
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[2]	$ 69,000,000		$ 242,000,000
[1]See Note 8 for details of balances associated with variable interest entities.[2]Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to real estate.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation American International Group, Inc. (AIG) is a leading global insurance organization serving customers in approximately 70 countries and jurisdictions. AIG companies serve commercial and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG Common Stock, par value $2.50 per share (AIG Common Stock), is listed on the New York Stock Exchange (NYSE: AIG). Unless the context indicates otherwise, the terms “AIG,” “we,” “us”, “our” or "the Company" mean American International Group, Inc. and its consolidated subsidiaries and the term “AIG Parent” means American International Group, Inc. and not any of its consolidated subsidiaries. These unaudited Condensed Consolidated Financial Statements do not include all disclosures that are normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (GAAP) and should be read in conjunction with the audited Consolidated Financial Statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the 2021 Annual Report). The condensed consolidated financial information as of December 31, 2021 included herein has been derived from the audited Consolidated Financial Statements in the 2021 Annual Report. Certain of our foreign subsidiaries included in the Condensed Consolidated Financial Statements report on the basis of a fiscal year ending November 30. The effect on our consolidated financial condition and results of operations of all material events occurring at these subsidiaries through the date of each of the periods presented in these Condensed Consolidated Financial Statements has been considered for adjustment and/or disclosure. In the opinion of management, these Condensed Consolidated Financial Statements contain normal recurring adjustments, including eliminations of material intercompany accounts and transactions, necessary for a fair statement of the results presented herein. Operating results for the six months ended June 30, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. We evaluated the need to recognize or disclose events that occurred subsequent to June 30, 2022 and prior to the issuance of these Condensed Consolidated Financial Statements. SALES/DISPOSALS OF ASSETS AND BUSINESSES Separation of Life and Retirement Business and Relationship with Blackstone Inc. On October 26, 2020, AIG announced its intention to separate its Life and Retirement business from AIG. On November 2, 2021, AIG and Blackstone Inc. (Blackstone) completed the acquisition by Blackstone of a 9.9 percent equity stake in Corebridge Financial, Inc., formerly known as SAFG Retirement Services, Inc. (Corebridge), which is the holding company for AIG’s Life and Retirement business. Pursuant to the definitive agreement, Blackstone will be required to hold its ownership interest in Corebridge following the completion of the separation of the Life and Retirement business, subject to exceptions permitting Blackstone to sell 25%, 67% and 75% of its shares after the first, second and third anniversaries, respectively, of the initial public offering of Corebridge (the IPO), with the transfer restrictions terminating in full on the fifth anniversary of the IPO. In the event that the IPO of Corebridge is not completed prior to November 2, 2023, Blackstone will have the right to require AIG to undertake the IPO, and in the event that the IPO has not been completed prior to November 2, 2024, Blackstone will have the right to exchange all or a portion of its ownership interest in Corebridge for shares of AIG’s common stock on the terms set forth in the definitive agreement. On November 1, 2021, Corebridge declared a dividend payable to AIG Parent in the amount of $8.3 billion. In connection with such dividend, Corebridge issued a promissory note to AIG Parent in the amount of $8.3 billion, which is required to be paid to AIG Parent prior to the IPO of Corebridge. On April 5, 2022, Corebridge issued senior unsecured notes in the aggregate principal amount of $6.5 billion, the proceeds of which were used to repay a portion of the $8.3 billion promissory note previously issued by Corebridge to AIG. While we currently believe the IPO is the next step in the separation of the Life and Retirement business from AIG, no assurance can be given regarding the form that future separation transactions may take or the specific terms or timing thereof, or that a separation will in fact occur. Any separation transaction will be subject to the satisfaction of various conditions and approvals, including approval by the AIG Board of Directors, receipt of insurance and other required regulatory approvals, and satisfaction of any applicable requirements of the Securities and Exchange Commission. On December 15, 2021, AIG and Blackstone Real Estate Income Trust (BREIT), a long-term, perpetual capital vehicle affiliated with Blackstone, completed the acquisition by BREIT of AIG’s interests in a U.S. affordable housing portfolio. The historical results of the U.S. affordable housing portfolio were reported in our Life and Retirement operating segments. Sale of Certain AIG Life and Retirement Retail Mutual Funds Business On February 8, 2021, AIG announced the execution of a definitive agreement with Touchstone Investments (Touchstone), an indirect wholly-owned subsidiary of Western & Southern Financial Group, to sell certain assets of Life and Retirement’s Retail Mutual Funds business. This sale consisted of the reorganization of twelve of the retail mutual funds managed by SunAmerica Asset Management, LLC (SAAMCo), a Life and Retirement entity, into certain Touchstone funds and was subject to certain conditions, including approval of the fund reorganizations by the retail mutual fund boards of directors/trustees and fund shareholders. The transaction closed on July 16, 2021, at which time we received initial proceeds and the twelve retail mutual funds managed by SAAMCo, with $6.8 billion in assets, were reorganized into Touchstone funds. Additional consideration may be earned over a three-year period based on asset levels in certain reorganized funds. Six retail mutual funds managed by SAAMCo and not included in the transaction were liquidated. We will retain our fund management platform and capabilities dedicated to our variable annuity insurance products. DEBT CASH TENDER OFFERS AND REDEMPTIONS In the six months ended June 30, 2022, we repurchased, through cash tender offers, and redeemed $7.6 billion aggregate principal amount of certain notes and debentures issued or guaranteed by AIG, for an aggregate purchase price of $7.8 billion, resulting in a total loss on extinguishment of debt of $299 million. DEBT ISSUANCE On April 5, 2022, Corebridge issued and sold $6.5 billion of senior unsecured notes consisting of $1.0 billion aggregate principal amount of its 3.50% Senior Notes due 2025, $1.25 billion aggregate principal amount of its 3.65% Senior Notes due 2027, $1.0 billion aggregate principal amount of its 3.85% Senior Notes due 2029, $1.5 billion aggregate principal amount of its 3.90% Senior Notes due 2032, $500 million aggregate principal amount of its 4.35% Senior Notes due 2042 and $1.25 billion aggregate principal amount of its 4.40% Senior Notes due 2052. CREDIT FACILITIES On February 25, 2022, Corebridge entered into an 18-Month Delayed Draw Term Loan Agreement (the 18-Month DDTL Facility) among Corebridge, as borrower, the lenders party thereto and the administrative agent thereto, and a 3-Year Delayed Draw Term Loan Agreement (the 3-Year DDTL Facility) among Corebridge, as borrower, the lenders party thereto and the administrative agent thereto. The 18-Month DDTL Facility and 3-Year DDTL Facility provided Corebridge with committed delayed draw term loan facilities in the aggregate principal amount of $6 billion and $3 billion, respectively. On April 6, 2022, in connection with the issuance of certain senior unsecured notes of Corebridge, (i) the commitments under the 18-Month DDTL Facility were terminated in full and (ii) the commitments under the 3-Year DDTL Facility were reduced from $3.0 billion to $2.5 billion. The ability to borrow under the 3-Year DDTL Facility is subject to, among other conditions, Corebridge’s confirmation to the administrative agent that an initial public offering of Corebridge is expected to be consummated within five As of June 30, 2022, a total of $2.5 billion remained available for borrowing under the 3-Year DDTL Facility. On May 12, 2022, Corebridge entered into a revolving syndicated credit facility (the Corebridge Facility) as a potential source of liquidity for general corporate purposes. The Corebridge Facility provides for aggregate commitments by the bank syndicate to provide unsecured revolving loans and/or standby letters of credit of up to $2.5 billion without any limits on the type of borrowings and is scheduled to expire on May 12, 2027 or if the IPO has not occurred on or prior to December 29, 2023, on such date. As of June 30, 2022, a total of $2.5 billion remained available for borrowing under the Corebridge Facility. USE OF ESTIMATES The preparation of financial statements in accordance with U.S. GAAP requires the application of accounting policies that often involve a significant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of: • loss reserves; • future policy benefit reserves for life and accident and health insurance contracts; • liabilities for guaranteed benefit features of variable annuity, fixed annuity and fixed index annuity products; • embedded derivative liabilities for fixed index annuity and life products; • estimated gross profits to value deferred acquisition costs and unearned revenue for investment-oriented products; • reinsurance assets, including the allowance for credit losses and disputes; • goodwill impairment; • allowance for credit losses on certain investments, primarily on loans and available for sale fixed maturity securities; • legal contingencies; • fair value measurements of certain financial assets and financial liabilities; and • income taxes, in particular the recoverability of our deferred tax asset and establishment of provisions for uncertain tax positions. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies ACCOUNTING STANDARDS ADOPTED Reference Rate Reform On March 12, 2020, the FASB issued an accounting standard that provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The standard allows us to account for certain contract modifications that result from the discontinuation of the London Inter-Bank Offered Rate (LIBOR) or another reference rate as a continuation of the existing contract without additional analysis. This standard may be elected and applied prospectively over time from March 12, 2020 through December 31, 2022 as reference rate reform activities occur. Where permitted by the guidance, we have accounted for contract modifications stemming from the discontinuation of LIBOR or another reference rate as a continuation of the existing contract. As part of our implementation efforts, we have and will continue to assess our operational readiness and current and alternative reference rates’ merits, limitations, risks and suitability for our investment and insurance processes. The adoption of the standard has not had, and is not expected to have, a material impact on our reported consolidated financial condition, results of operations, cash flows and required disclosures. FUTURE APPLICATION OF ACCOUNTING STANDARDS Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued an accounting standard update with the objective of making targeted improvements to the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The Company will adopt the standard on January 1, 2023. We continue to evaluate and expect the adoption of this standard will impact our financial condition, results of operations, statement of cash flows and disclosures, as well as systems, processes and controls. The Company will adopt the standard using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs associated therewith. The Company will adopt the standard in relation to market risk benefits (MRBs) on a retrospective basis. Based upon this transition method, the Company currently estimates that the January 1, 2021 transition date (Transition Date) impact from adoption is likely to result in a decrease in AIG’s equity between approximately $1.0 billion and $3.0 billion in AIG’s Life and Retirement business. The most significant drivers of the transition adjustment are expected to be (1) changes related to market risk benefits in our Individual Retirement and Group Retirement segments, including the impact of non-performance adjustments (2) changes to the discount rate which will most significantly impact our Life Insurance and Institutional Markets segments and (3) the removal of balances recorded in accumulated other comprehensive income (loss) (AOCI) related to changes in unrealized appreciation (depreciation) on investments. Market risk benefits: The standard requires the measurement of all MRBs associated with deposit (or account balance) contracts at fair value at each reporting period. Changes in fair value compared to prior periods will be recorded and presented separately within the income statement, with the exception of instrument-specific credit risk changes (non-performance adjustments), which will be recognized in other comprehensive income. MRBs will impact both retained earnings and AOCI upon transition. As MRBs are required to be accounted for at fair value, the quarterly valuation of these items will result in variability and volatility in the Company’s results following adoption. Discount rate assumption: The standard requires the discount rate assumption for the liability for future policy benefits to be updated at the end of each reporting period using an upper-medium grade (low credit risk) fixed income instrument yield that maximizes the use of observable market inputs. Upon transition, the Company currently estimates an adjustment to AOCI due to the fact that the market upper-medium grade (low credit risk) interest rates as of the Transition Date differ from reserve interest accretion rates. Lower interest rates result in a higher liability for future policy benefits, and are anticipated to more significantly impact our Life Insurance and Institutional Markets segments. Following adoption, the impact of changes to discount rates will be recognized through other comprehensive income. Changes resulting from unlocking the discount rate each reporting period will primarily impact term life insurance and other traditional life insurance products, as well as pension risk transfer and structured settlement products. Removal of balances related to changes in unrealized appreciation (depreciation) on investments: Under the standard, the majority of balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments will be eliminated. In addition to the above, the standard also: • Requires the review and if necessary, update of future policy benefit assumptions at least annually for traditional and limited pay long duration contracts, with the recognition and separate presentation of any resulting re-measurement gain or loss (except for discount rate changes as noted above) in the income statement. • Simplifies the amortization of DAC to a constant level basis over the expected term of the related contracts with adjustments for unexpected terminations, but no longer requires an impairment test. • Increased disclosures of disaggregated roll-forwards of several balances, including: liabilities for future policy benefits, deferred acquisition costs, account balances, market risk benefits, separate account liabilities and information about significant inputs, judgments and methods used in measurement and changes thereto and impact of those changes. We expect that the accounting for Fortitude Reinsurance Company Ltd. (Fortitude Re) will continue to remain largely unchanged. With respect to Fortitude Re, the reinsurance assets, including the discount rates, will continue to be calculated using the same methodology and assumptions as the direct policies. Accounting for modified coinsurance (modco) remains unchanged. The Company has created a governance framework and a plan to support implementation of the updated standard. As part of its implementation plan, the Company has also advanced the modernization of its actuarial technology platform to enhance its modeling, data management, experience study and analytical capabilities, increase the end-to-end automation of key reporting and analytical processes and optimize its control framework. The Company has designed and begun implementation and testing of internal controls related to the new processes created as part of implementing the updated standard and will continue to refine these internal controls until the formal implementation in the first quarter of 2023. Troubled Debt Restructuring and Vintage Disclosures In March 2022, the FASB issued an accounting standard update that eliminates the accounting guidance for troubled debt restructurings for creditors and amends the guidance on “vintage disclosures” to require disclosure of current-period gross write-offs by year of origination. The standard also updates the requirements for accounting for credit losses by adding enhanced disclosures for creditors related to loan refinancings and restructurings for borrowers experiencing financial difficulty. Because the Company has already adopted the current expected credit loss (CECL) model, the amendments in this standard are effective for fiscal years beginning after December 15, 2022, including interim periods within those years. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Fair Value Measurement On June 30, 2022, the FASB issued an accounting standards update to address diversity in practice by clarifying that a contractual sale restriction should not be considered in the measurement of the fair value of an equity security. It also requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. The guidance is effective for public companies for fiscal years beginning after December 15, 2023 and interim period within those years, with early adoption permitted. For entities other than investment companies, the accounting standards update applies prospectively, with any adjustments resulting from adoption recognized in earnings on the date of adoption. We are assessing the impact of this standard.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	3. Segment Information We report our results of operations consistent with the manner in which our chief operating decision makers review the business to assess performance and allocate resources, as follows: GENERAL INSURANCE General Insurance business is presented as two operating segments: • North America – consists of insurance businesses in the United States, Canada and Bermuda, and our global reinsurance business, AIG Re. • International – consists of regional insurance businesses in Japan, the United Kingdom, Europe, Middle East and Africa (EMEA region), Asia Pacific, Latin America and Caribbean, and China. International also includes the results of Talbot Holdings, Ltd. as well as AIG’s Global Specialty business. North America and International operating segments consist of the following products: – Commercial Lines – consists of Property, Liability, Financial Lines, and Specialty. – Personal Insurance – consists of Accident & Health and Personal Lines. LIFE AND RETIREMENT Life and Retirement business is presented as four operating segments: • Individual Retirement – consists of fixed annuities, fixed index annuities, variable annuities and retail mutual funds. • Group Retirement – consists of record-keeping, plan administrative and compliance services, financial planning and advisory solutions offered to employer-defined contribution plan participants, along with proprietary and non-proprietary annuities and advisory and brokerage products offered outside of plans. • Life Insurance – primary products in the U.S. include term life and universal life insurance. International operations primarily include distribution of life and health products in the UK and Ireland. • Institutional Markets – consists of stable value wrap products, structured settlement and pension risk transfer annuities, corporate- and bank-owned life insurance, high net worth products and guaranteed investment contracts (GICs). OTHER OPERATIONS Other Operations primarily consists of income from assets held by AIG Parent and other corporate subsidiaries, deferred tax assets related to tax attributes, corporate expenses and intercompany eliminations, our institutional asset management business and results of our consolidated investment entities, General Insurance portfolios in run-off as well as the historical results of our legacy insurance lines ceded to Fortitude Re. The following table presents AIG’s continuing operations by operating segment: Three Months Ended June 30, 2022 2021 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 2,972 $ 406 (a) $ 2,685 $ 169 (a) International 3,414 393 (a) 3,530 294 (a) Net investment income 458 458 731 731 Total General Insurance 6,844 1,257 6,946 1,194 Life and Retirement Individual Retirement 1,288 204 1,519 617 Group Retirement 682 164 820 347 Life Insurance 1,299 117 1,295 20 Institutional Markets 786 78 1,412 140 Total Life and Retirement 4,055 563 5,046 1,124 Other Operations Other Operations before consolidation and eliminations 207 (331) 259 (516) Consolidation and eliminations (136) (130) (125) (94) Total Other Operations 71 (461) 134 (610) Total 10,970 1,359 12,126 1,708 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 13 10 14 13 Changes in benefit reserves and DAC, VOBA and DSI related to net realized gains (losses) — (128) — 120 Changes in the fair value of equity securities (30) (30) (13) (13) Other income (expense) - net (9) — (2) — Loss on extinguishment of debt — (299) — (106) Net investment income on Fortitude Re funds withheld assets 188 188 507 507 Net realized gains (losses) on Fortitude Re funds withheld assets (86) (86) 173 173 Net realized gains (losses) on Fortitude Re funds withheld embedded derivative 2,776 2,776 (2,056) (2,056) Net realized gains (losses) (b) 615 620 (68) (59) Net loss on divestitures — (1) — (1) Non-operating litigation reserves and settlements 4 4 — — Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 144 — 65 Net loss reserve discount charge — (14) — (22) Integration and transaction costs associated with acquiring or divesting businesses — (38) — (35) Restructuring and other costs — (175) — (126) Non-recurring costs related to regulatory or accounting changes — (9) — (21) Revenues and pre-tax income $ 14,441 $ 4,321 $ 10,681 $ 147 Six Months Ended June 30, 2022 2021 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 5,761 $ 662 (a) $ 5,073 $ (33) (a) International 6,881 583 (a) 7,008 569 (a) Net investment income 1,223 1,223 1,503 1,503 Total General Insurance 13,865 2,468 13,584 2,039 Life and Retirement Individual Retirement 2,673 588 2,996 1,149 Group Retirement 1,426 389 1,626 654 Life Insurance 2,586 108 2,628 (20) Institutional Markets 1,335 202 1,776 282 Total Life and Retirement 8,020 1,287 9,026 2,065 Other Operations Other Operations before consolidation and eliminations 501 (619) 583 (870) AIG consolidation and eliminations (272) (263) (305) (270) Total Other Operations 229 (882) 278 (1,140) Total 22,114 2,873 22,888 2,964 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 27 23 32 35 Changes in benefit reserves and DAC, VOBA and DSI related to net realized gains (losses) — (401) — (83) Changes in the fair value of equity securities (57) (57) 9 9 Other income (expense) - net (16) — (8) — Loss on extinguishment of debt — (299) — (98) Net investment income on Fortitude Re funds withheld assets 479 479 993 993 Net realized gains (losses) on Fortitude Re funds withheld assets (226) (226) 346 346 Net realized gains on Fortitude Re funds withheld embedded derivative 6,094 6,094 326 326 Net realized gains (b) 1,796 1,808 549 568 Net gain on divestitures — 39 — 6 Non-operating litigation reserves and settlements 38 38 — — Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 144 — 84 Net loss reserve discount benefit — 6 — 10 Integration and transaction costs associated with acquiring or divesting businesses — (84) — (44) Restructuring and other costs — (268) — (200) Non-recurring costs related to regulatory or accounting changes — (13) — (41) Revenues and pre-tax income $ 30,249 $ 10,156 $ 25,135 $ 4,875 (a) General Insurance North America’s and General Insurance International’s Adjusted pre-tax income does not include Net investment income as the investment portfolio results are managed at the General Insurance level. Net investment income is shown separately as a component of General Insurance’s total Adjusted pre-tax income results. (b) Includes all net realized gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication and net realized gains and losses on Fortitude Re funds withheld assets held by AIG in support of Fortitude Re’s reinsurance obligations to AIG (Fortitude Re funds withheld assets).

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements FAIR VALUE MEASUREMENTS ON A RECURRING BASIS Assets and liabilities recorded at fair value in the Condensed Consolidated Balance Sheets are measured and classified in accordance with a fair value hierarchy consisting of three “levels” based on the observability of valuation inputs: • Level 1: Fair value measurements based on quoted prices (unadjusted) in active markets that we have the ability to access for identical assets or liabilities. Market price data generally is obtained from exchange or dealer markets. We do not adjust the quoted price for such instruments. • Level 2: Fair value measurements based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. • Level 3: Fair value measurements based on valuation techniques that use significant inputs that are unobservable. Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3. The circumstances for using these measurements include those in which there is little, if any, market activity for the asset or liability. Therefore, we must make certain assumptions about the inputs a hypothetical market participant would use to value that asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS The following table presents information about assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value measurement based on the observability of the inputs used: June 30, 2022 Level 1 Level 2 Level 3 Counterparty Netting (a) Cash Collateral Total (in millions) Assets: Bonds available for sale: U.S. government and government sponsored entities $ — $ 8,146 $ — $ — $ — $ 8,146 Obligations of states, municipalities and political subdivisions — 11,643 957 — — 12,600 Non-U.S. governments 149 13,516 9 — — 13,674 Corporate debt — 140,258 2,483 — — 142,741 RMBS — 11,821 8,352 — — 20,173 CMBS — 14,016 871 — — 14,887 CDO/ABS — 8,818 11,696 — — 20,514 Total bonds available for sale 149 208,218 24,368 — — 232,735 Other bond securities: U.S. government and government sponsored entities — 1,620 — — — 1,620 Obligations of states, municipalities and political subdivisions — 99 — — — 99 Non-U.S. governments — 76 — — — 76 Corporate debt — 1,200 461 — — 1,661 RMBS — 102 192 — — 294 CMBS — 289 32 — — 321 CDO/ABS — 385 2,442 — — 2,827 Total other bond securities — 3,771 3,127 — — 6,898 Equity securities 583 34 12 — — 629 Other invested assets (b) — 131 2,008 — — 2,139 Derivative assets (c) : Interest rate contracts — 4,460 151 — — 4,611 Foreign exchange contracts — 2,113 — — — 2,113 Equity contracts 21 214 152 — — 387 Commodity contracts — 9 — — — 9 Credit contracts — — 1 — — 1 Other contracts — — 16 — — 16 Counterparty netting and cash collateral — — — (4,354) (2,426) (6,780) Total derivative assets 21 6,796 320 (4,354) (2,426) 357 Short-term investments 1,874 1,557 — — — 3,431 Other assets (c) — — 107 — — 107 Separate account assets 82,990 3,745 — — — 86,735 Total $ 85,617 $ 224,252 $ 29,942 $ (4,354) $ (2,426) $ 333,031 Liabilities: Policyholder contract deposits $ — $ 40 $ 6,957 $ — $ — $ 6,997 Derivative liabilities (c) : Interest rate contracts 10 6,289 8 — — 6,307 Foreign exchange contracts — 647 1 — — 648 Equity contracts 4 46 3 — — 53 Credit contracts — 11 33 — — 44 Counterparty netting and cash collateral — — — (4,354) (2,418) (6,772) Total derivative liabilities 14 6,993 45 (4,354) (2,418) 280 Fortitude Re funds withheld payable — — (638) — — (638) Long-term debt — 1,664 — — — 1,664 Total $ 14 $ 8,697 $ 6,364 $ (4,354) $ (2,418) $ 8,303 December 31, 2021 Level 1 Level 2 Level 3 Counterparty Netting (a) Cash Total (in millions) Assets: Bonds available for sale: U.S. government and government sponsored entities $ 2,553 $ 5,641 $ — $ — $ — $ 8,194 Obligations of states, municipalities and political subdivisions — 13,096 1,431 — — 14,527 Non-U.S. governments 9 16,314 7 — — 16,330 Corporate debt — 172,967 2,641 — — 175,608 RMBS — 16,909 10,378 — — 27,287 CMBS — 14,619 1,190 — — 15,809 CDO/ABS — 8,232 11,215 — — 19,447 Total bonds available for sale 2,562 247,778 26,862 — — 277,202 Other bond securities: U.S. government and government sponsored entities — 1,750 — — — 1,750 Obligations of states, municipalities and political subdivisions — 97 — — — 97 Non-U.S. governments — 76 — — — 76 Corporate debt — 916 134 — — 1,050 RMBS — 215 196 — — 411 CMBS — 280 35 — — 315 CDO/ABS — 247 2,332 — — 2,579 Total other bond securities — 3,581 2,697 — — 6,278 Equity securities 669 64 6 — — 739 Other invested assets (b) — 138 1,948 — — 2,086 Derivative assets (c) : Interest rate contracts — 3,873 — — — 3,873 Foreign exchange contracts — 1,188 1 — — 1,189 Equity contracts 7 224 450 — — 681 Commodity contracts — 4 — — — 4 Credit contracts — — 1 — — 1 Other contracts — — 13 — — 13 Counterparty netting and cash collateral — — — (2,779) (2,139) (4,918) Total derivative assets 7 5,289 465 (2,779) (2,139) 843 Short-term investments 2,584 1,842 — — — 4,426 Other assets (c) — — 114 — — 114 Separate account assets 105,221 3,890 — — — 109,111 Total $ 111,043 $ 262,582 $ 32,092 $ (2,779) $ (2,139) $ 400,799 Liabilities: Policyholder contract deposits $ — $ 54 $ 9,682 $ — $ — $ 9,736 Derivative liabilities (c) : Interest rate contracts 1 3,632 — — — 3,633 Foreign exchange contracts — 721 — — — 721 Equity contracts 1 46 6 — — 53 Credit contracts — 16 31 — — 47 Counterparty netting and cash collateral — — — (2,779) (1,089) (3,868) Total derivative liabilities 2 4,415 37 (2,779) (1,089) 586 Fortitude Re funds withheld payable — — 5,922 — — 5,922 Long-term debt — 1,871 — — — 1,871 Total $ 2 $ 6,340 $ 15,641 $ (2,779) $ (1,089) $ 18,115 (a) Represents netting of derivative exposures covered by qualifying master netting agreements. (b) Excludes investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent), which totaled $9.6 billion and $8.4 billion as of June 30, 2022 and December 31, 2021, respectively. (c) Presented as part of Other assets and Other liabilities on the Condensed Consolidated Balance Sheets. CHANGES IN LEVEL 3 RECURRING FAIR VALUE MEASUREMENTS The following tables present changes during the three- and six-month periods ended June 30, 2022 and 2021 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at June 30, 2022 and 2021: (in millions) Fair Value Net Realized Other Purchases, Gross Transfers In Gross Transfers Out Other Fair Value Changes in Changes in Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,087 $ — $ (143) $ (4) $ 17 $ — $ — $ 957 $ — $ (151) Non-U.S. governments 8 — — — 1 — — 9 — — Corporate debt 2,744 (15) (78) (214) 252 (206) — 2,483 — (49) RMBS 8,925 92 (390) (266) — (9) — 8,352 — (390) CMBS 864 5 (46) 85 — (37) — 871 — (47) CDO/ABS 11,776 3 (502) 1,106 349 (1,036) — 11,696 — (513) Total bonds available for sale 25,404 85 (1,159) 707 619 (1,288) — 24,368 — (1,150) Other bond securities: Corporate Debt 260 (4) — 47 161 (3) — 461 (4) — RMBS 199 (13) 1 5 — — — 192 (13) — CMBS 33 (1) — — — — — 32 (1) — CDO/ABS 2,468 (135) — 157 6 (54) — 2,442 — — Total other bond securities 2,960 (153) 1 209 167 (57) — 3,127 (18) — Equity securities 6 — 1 5 — — — 12 — — Other invested assets 1,935 133 (23) (23) — (14) — 2,008 174 — Other assets 108 — — (1) — — — 107 — — Total $ 30,413 $ 65 $ (1,180) $ 897 $ 786 $ (1,359) $ — $ 29,622 $ 156 $ (1,150) (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Liabilities: Policyholder contract deposits $ 8,030 $ (1,322) $ — $ 249 $ — $ — $ — $ 6,957 $ 1,369 $ — Derivative liabilities, net: Interest rate contracts (4) 12 — (70) (81) — — (143) (10) — Foreign exchange contracts — 1 — — — — — 1 (1) — Equity contracts (178) 89 — (59) — (1) — (149) (95) — Credit contracts 31 1 — — — — — 32 (1) — Other contracts (14) (14) — 12 — — — (16) 15 — Total derivative liabilities, net (a) (165) 89 — (117) (81) (1) — (275) (92) — Fortitude Re funds withheld payable 2,206 (2,776) — (68) — — — (638) 2,836 — Total $ 10,071 $ (4,009) $ — $ 64 $ (81) $ (1) $ — $ 6,044 $ 4,113 $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Three Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,896 $ 5 $ 128 $ (65) $ — $ (25) $ — $ 1,939 $ — $ 244 Non-U.S. governments 6 — (1) 1 4 — — 10 — — Corporate debt 2,570 14 17 31 208 (67) — 2,773 — 50 RMBS 11,464 150 (39) (460) — (30) — 11,085 — 957 CMBS 1,104 7 23 85 — (137) — 1,082 — 18 CDO/ABS 9,602 (1) 44 (374) 384 (337) — 9,318 — 403 Total bonds available for sale 26,642 175 172 (782) 596 (596) — 26,207 — 1,672 Other bond securities: RMBS 126 1 — (14) — — — 113 12 — CMBS 46 — — — — — — 46 6 — CDO/ABS 2,346 45 — (112) — — — 2,279 253 — Total other bond securities 2,518 46 — (126) — — — 2,438 271 — Equity securities 128 — (3) (112) 1 (10) — 4 — — Other invested assets 1,897 114 (1) 89 — — — 2,099 122 — Other assets 113 — — — — — — 113 — — Total $ 31,298 $ 335 $ 168 $ (931) $ 597 $ (606) $ — $ 30,861 $ 393 $ 1,672 (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Unrealized Gains (Losses) Included in Liabilities: Policyholder contract deposits $ 7,617 $ 1,363 $ — $ 40 $ — $ — $ — $ 9,020 $ (1,018) $ — Derivative liabilities, net: Interest rate contracts — (2) — 1 — — — (1) 1 — Foreign exchange contracts — — — (1) — — — (1) (1) — Equity contracts (222) (71) — (69) — 5 — (357) 85 — Credit contracts 44 2 — (3) — — — 43 (1) — Other contracts (9) (16) — 15 — — — (10) 17 — Total derivative liabilities, net (a) (187) (87) — (57) — 5 — (326) 101 — Fortitude Re funds withheld payable 3,487 2,056 — (226) — — — 5,317 (1,452) — Total $ 10,917 $ 3,332 $ — $ (243) $ — $ 5 $ — $ 14,011 $ (2,369) $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,431 $ 2 $ (428) $ (65) $ 17 $ — $ — $ 957 $ — $ (410) Non-U.S. governments 7 — — — 2 — — 9 — — Corporate debt 2,641 (26) (151) (37) 382 (326) — 2,483 — (137) RMBS 10,378 222 (943) (874) — (431) — 8,352 — (925) CMBS 1,190 13 (113) 117 — (336) — 871 — (108) CDO/ABS 11,215 19 (1,003) 1,651 1,464 (1,650) — 11,696 — (1,003) Total bonds available for sale 26,862 230 (2,638) 792 1,865 (2,743) — 24,368 — (2,583) Other bond securities: Corporate Debt 134 (4) — 124 222 (15) — 461 (4) — RMBS 196 (18) — 14 — — — 192 (21) — CMBS 35 (3) — — — — — 32 (3) — CDO/ABS 2,332 (249) — 352 63 (56) — 2,442 (162) — Total other bond securities 2,697 (274) — 490 285 (71) — 3,127 (190) — Equity securities 6 — — 6 — — — 12 — — Other invested assets 1,948 245 (27) (38) 47 (167) — 2,008 295 — Other assets 114 — — (7) — — — 107 — — Total $ 31,627 $ 201 $ (2,665) $ 1,243 $ 2,197 $ (2,981) $ — $ 29,622 $ 105 $ (2,583) (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Liabilities: Policyholder contract deposits $ 9,682 $ (3,119) $ — $ 394 $ — $ — $ — $ 6,957 $ 3,353 $ — Derivative liabilities, net: Interest rate contracts — 11 — (73) (81) — — (143) (10) — Foreign exchange contracts (1) 1 — 1 — — — 1 (1) — Equity contracts (444) 390 — (94) — (1) — (149) (247) — Credit contracts 30 2 — — — — — 32 (1) — Other contracts (13) (32) — 29 — — — (16) 32 — Total derivative liabilities, net (a) (428) 372 — (137) (81) (1) — (275) (227) — Fortitude Re funds withheld payable 5,922 (6,094) — (466) — — — (638) 6,316 — Total $ 15,176 $ (8,841) $ — $ (209) $ (81) $ (1) $ — $ 6,044 $ 9,442 $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Six Months Ended June 30, 2021 Assets: Obligations of states, municipalities and political subdivisions $ 2,105 $ 8 $ (31) $ (118) $ — $ (25) $ — $ 1,939 $ — $ 234 Non-U.S. governments 5 — (1) 1 5 — — 10 — — Corporate debt 2,349 13 7 208 395 (199) — 2,773 — (109) RMBS 11,694 317 25 (891) — (60) — 11,085 — 943 CMBS 922 16 (33) 258 56 (137) — 1,082 — (38) CDO/ABS 9,814 15 30 (538) 838 (841) — 9,318 — 467 Total bonds available for sale 26,889 369 (3) (1,080) 1,294 (1,262) — 26,207 — 1,497 Other bond securities: RMBS 139 4 — (30) — — — 113 (86) — CMBS 47 (1) — (6) 6 — — 46 4 — CDO/ABS 2,512 34 — (267) — — — 2,279 255 — Total other bond securities 2,698 37 — (303) 6 — — 2,438 173 — Equity securities 51 11 — (123) 76 (11) — 4 3 — Other invested assets 1,827 256 (7) 23 — — — 2,099 245 — Other assets 113 — — — — — — 113 — — Total $ 31,578 $ 673 $ (10) $ (1,483) $ 1,376 $ (1,273) $ — $ 30,861 $ 421 $ 1,497 (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Liabilities: Policyholder contract deposits $ 9,798 $ (897) $ — $ 119 $ — $ — $ — $ 9,020 $ 1,553 $ — Derivative liabilities, net: Interest rate contracts — (2) — 1 — — — (1) 2 — Foreign exchange contracts (2) 1 — — — — — (1) (1) — Equity contracts (151) (97) — (154) — 45 — (357) 13 — Credit contracts 42 7 — (6) — — — 43 (1) — Other contracts (8) (33) — 31 — — — (10) 33 — Total derivative liabilities, net(a) (119) (124) — (128) — 45 — (326) 46 — Fortitude Re funds withheld payable 6,042 (326) — (399) — — — 5,317 1,503 — Total $ 15,721 $ (1,347) $ — $ (408) $ — $ 45 $ — $ 14,011 $ 3,102 $ — (a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities shown above are reported in the Condensed Consolidated Statements of Income (Loss) as follows: (in millions) Net Investment Income Net Realized Gains (Losses) Other Total Three Months Ended June 30, 2022 Assets: Bonds available for sale $ 142 $ (57) $ — $ 85 Other bond securities (153) — — (153) Other invested assets 133 — — 133 Three Months Ended June 30, 2021 Assets: Bonds available for sale $ 163 $ 12 $ — $ 175 Other bond securities 46 — — 46 Other invested assets 99 15 — 114 Six Months Ended June 30, 2022 Assets: Bonds available for sale $ 306 $ (76) $ — $ 230 Other bond securities (274) — — (274) Other invested assets 245 — — 245 Six Months Ended June 30, 2021 Assets: Bonds available for sale $ 348 $ 21 $ — $ 369 Other bond securities 37 — — 37 Equity securities 11 — — 11 Other invested assets 241 15 — 256 (in millions) Net Investment Income Net Realized (Gains) Losses Other Total Three Months Ended June 30, 2022 Liabilities: Policyholder contract deposits* $ — $ (1,322) $ — $ (1,322) Derivative liabilities, net — 102 (13) 89 Fortitude Re funds withheld payable — (2,776) — (2,776) Three Months Ended June 30, 2021 Liabilities: Policyholder contract deposits* $ — $ 1,363 $ — $ 1,363 Derivative liabilities, net — (72) (15) (87) Fortitude Re funds withheld payable — 2,056 — 2,056 Six Months Ended June 30, 2022 Liabilities: Policyholder contract deposits* $ — $ (3,119) $ — $ (3,119) Derivative liabilities, net — 400 (28) 372 Fortitude Re funds withheld payable — (6,094) — (6,094) Six Months Ended June 30, 2021 Liabilities: Policyholder contract deposits* $ — $ (897) $ — $ (897) Derivative liabilities, net — (95) (29) (124) Fortitude Re funds withheld payable — (326) — (326) * Primarily embedded derivatives. The following table presents the gross components of purchases, sales, issuances and settlements, net, shown above, for the three- and six-month periods ended June 30, 2022 and 2021 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets: (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ (4) $ — $ (4) Corporate debt 14 — (228) (214) RMBS 176 — (442) (266) CMBS 76 — 9 85 CDO/ABS 1,245 — (139) 1,106 Total bonds available for sale 1,511 (4) (800) 707 Other bond securities: Corporate debt 5 — 42 47 RMBS 14 — (9) 5 CDO/ABS 293 — (136) 157 Total other bond securities 312 — (103) 209 Equity securities 5 — — 5 Other invested assets 259 — (282) (23) Other assets — — (1) (1) Total $ 2,087 $ (4) $ (1,186) $ 897 Liabilities: Policyholder contract deposits $ — $ 250 $ (1) $ 249 Derivative liabilities, net (164) 1 46 (117) Fortitude Re funds withheld payable — — (68) (68) Total $ (164) $ 251 $ (23) $ 64 Three Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 3 $ (23) $ (45) $ (65) Non-U.S. governments 1 — — 1 Corporate debt 212 (32) (149) 31 RMBS 318 (115) (663) (460) CMBS 97 — (12) 85 CDO/ABS 780 119 (1,273) (374) Total bonds available for sale 1,411 (51) (2,142) (782) Other bond securities: RMBS 1 (9) (6) (14) CDO/ABS — — (112) (112) Total other bond securities 1 (9) (118) (126) Equity securities — (3) (109) (112) Other invested assets 194 — (105) 89 Total $ 1,606 $ (63) $ (2,474) $ (931) Liabilities: Policyholder contract deposits — 202 (162) 40 Derivative liabilities, net (71) 1 13 (57) Fortitude Re funds withheld payable — — (226) (226) Total $ (71) $ 203 $ (375) $ (243) (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (64) $ (2) $ (65) Corporate debt 23 — (60) (37) RMBS 285 — (1,159) (874) CMBS 146 — (29) 117 CDO/ABS 2,131 — (480) 1,651 Total bonds available for sale 2,586 (64) (1,730) 792 Other bond securities: Corporate debt 24 — 100 124 RMBS 31 — (17) 14 CDO/ABS 616 — (264) 352 Total other bond securities 671 — (181) 490 Equity securities 5 — 1 6 Other invested assets 517 — (555) (38) Other assets — — (7) (7) Total $ 3,779 $ (64) $ (2,472) $ 1,243 Liabilities: Policyholder contract deposits $ — $ 467 $ (73) $ 394 Derivative liabilities, net (249) 3 109 (137) Fortitude Re funds withheld payable — — (466) (466) Total $ (249) $ 470 $ (430) $ (209) Six Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 11 $ (43) $ (86) $ (118) Non-U.S. governments 1 — — 1 Corporate Debt 953 (33) (712) 208 RMBS 482 (115) (1,258) (891) CMBS 290 — (32) 258 CDO/ABS 1,156 70 (1,764) (538) Total bonds available for sale 2,893 (121) (3,852) (1,080) Other bond securities: RMBS 1 (9) (22) (30) CMBS — (6) — (6) CDO/ABS — (39) (228) (267) Total other bond securities 1 (54) (250) (303) Equity securities — (3) (120) (123) Other invested assets 392 — (369) 23 Total $ 3,286 $ (178) $ (4,591) $ (1,483) Liabilities: Policyholder contract deposits $ — 393 (274) 119 Derivative liabilities, net (123) 2 (7) (128) Fortitude Re funds withheld payable — — (399) (399) Total $ (123) $ 395 $ (680) $ (408) (a) There were no issuances during the three- and six-month periods ended June 30, 2022 and 2021. Both observable and unobservable inputs may be used to determine the fair values of positions classified in Level 3 in the tables above. As a result, the unrealized gains (losses) on instruments held at June 30, 2022 and 2021 may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable inputs (e.g., changes in unobservable long-dated volatilities). Transfers of Level 3 Assets and Liabilities The Net realized and unrealized gains (losses) included in income (loss) or Other comprehensive income (loss) as shown in the table above excludes $(38) million and $(72) million of net gains (losses) related to assets and liabilities transferred into Level 3 during the three- and six-month periods ended June 30, 2022, respectively, and includes $(38) million and $(79) million of net gains (losses) related to assets and liabilities transferred out of Level 3 during the three- and six-month periods ended June 30, 2022, respectively. The Net realized and unrealized gains (losses) included in income (loss) or Other comprehensive income (loss) as shown in the table above excludes $9 million and $28 million of net gains (losses) related to assets and liabilities transferred into Level 3 during the three- and six-month periods ended June 30, 2021, respectively, and includes $1 million and $(4) million of net gains (losses) related to assets and liabilities transferred out of Level 3 during the three- and six-month periods ended June 30, 2021, respectively. Transfers of Level 3 Assets During the three- and six-month periods ended June 30, 2022 and 2021, transfers into Level 3 assets primarily included certain investments in private placement corporate debt, RMBS, CMBS and CDO/ABS. Transfers of private placement corporate debt and certain ABS into Level 3 assets were primarily the result of limited market pricing information that required us to determine fair value for these securities based on inputs that are adjusted to better reflect our own assumptions regarding the characteristics of a specific security or associated market liquidity. The transfers of investments in RMBS, CMBS and CDO and certain ABS into Level 3 assets were due to diminished market transparency and liquidity for individual security types. During the three- and six-month periods ended June 30, 2022 and 2021, transfers out of Level 3 assets primarily included private placement and other corporate debt, CMBS, RMBS, CDO/ABS and certain investments in municipal securities. Transfers of corporate debt, RMBS, CMBS, CDO/ABS and certain investments in municipal securities out of Level 3 assets were based on consideration of market liquidity as well as related transparency of pricing and associated observable inputs for these investments. Transfers of certain investments in private placement corporate debt and certain ABS out of Level 3 assets were primarily the result of using observable pricing information that reflects the fair value of those securities without the need for adjustment based on our own assumptions regarding the characteristics of a specific security or the current liquidity in the market. Transfers of Level 3 Liabilities During the three- and six-month periods ended June 30, 2022, transfers of derivatives into Level 3 were primarily due to increased long-dated European swaption activity with Secured Overnight Financing Rate tenors. There were no significant transfers of derivative or other liabilities into or out of Level 3 for the three- and six-month periods ended June 30, 2021. QUANTITATIVE INFORMATION ABOUT LEVEL 3 FAIR VALUE MEASUREMENTS The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments, and includes only those instruments for which information about the inputs is reasonably available to us, such as data from independent third-party valuation service providers. Because input information from third-parties with respect to certain Level 3 instruments (primarily CDO/ABS) may not be reasonably available to us, balances shown below may not equal total amounts reported for such Level 3 assets and liabilities: (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Assets: Obligations of states, municipalities and political subdivisions $ 913 Discounted cash flow Yield 4.43% - 5.28% (4.86%) Corporate debt 2,346 Discounted cash flow Yield 2.86% - 10.40% (6.63%) RMBS (a) 5,843 Discounted cash flow Constant prepayment rate 4.89% - 9.89% (7.39%) Loss severity 44.26% - 76.00% (60.13%) Constant default rate 0.95% - 2.86% (1.91%) Yield 4.93% - 6.39% (5.66%) CDO/ABS (a) 9,064 Discounted cash flow Yield 4.54% - 7.20% (5.87%) CMBS 587 Discounted cash flow Yield 4.12% - 7.74% (5.93%) Liabilities (d) : Embedded derivatives within Policyholder contract deposits: Variable annuity guaranteed minimum withdrawal benefits (GMWB) 1,198 Discounted cash flow Equity volatility 5.85% - 46.15% Base lapse rate 0.16% - 12.60% Dynamic lapse multiplier 20.00% - 186.00% Mortality multiplier (e) 38.00% - 147.00% Utilization 90.00% - 100.00% Equity / interest rate correlation 20.00% - 40.00% NPA (f) 0.00% - 2.04% Fixed Index annuities including certain GMWB 5,130 Discounted cash flow Base lapse rate 0.50% - 50.00% Dynamic lapse multiplier 20.00% - 186.00% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 95.00% Option budget 0.00% - 4.00% NPA (f) 0.00% - 2.04% Indexed life 629 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 6.37% - 24.69% NPA (f) 0.00% - 2.04% (in millions) Fair Value at December 31, 2021 Valuation Unobservable Input (b) Range (Weighted Average) (c) Assets: Obligations of states, municipalities and political subdivisions $ 1,400 Discounted cash flow Yield 2.74% - 3.33% (3.06%) Corporate debt 1,561 Discounted cash flow Yield 2.23% - 7.69% (4.96%) RMBS (a) 9,916 Discounted cash flow Constant prepayment rate 5.25% - 17.70% (11.47%) Loss severity 26.13% - 71.93% (49.03%) Constant default rate 1.15% - 5.85% (3.50%) Yield 1.69% - 3.97% (2.83%) CDO/ABS (a) 8,229 Discounted cash flow Yield 1.84% - 4.77% (3.31%) CMBS 580 Discounted cash flow Yield 1.50% - 5.01% (3.25%) Liabilities (d) : Embedded derivatives within Policyholder contract deposits: GMWB 2,472 Discounted cash flow Equity volatility 5.95% - 46.65% Base lapse rate 0.16% - 12.60% Dynamic lapse multiplier 20.00% - 186.00% Mortality multiplier (e) 38.00% - 147.00% Utilization 90.00% - 100.00% Equity / interest rate correlation 20.00% - 40.00% NPA (f) 0.01% - 1.40% Fixed Index annuities including certain GMWB 6,445 Discounted cash flow Base lapse rate 0.50% - 50.00% Dynamic lapse multiplier 20.00% - 186.00% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 95.00% Option budget 0.00% - 4.00% NPA (f) 0.01% - 1.40% Indexed life 765 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 7.65% - 20.70% NPA (f) 0.01% - 1.40% (a) Information received from third-party valuation service providers. The ranges of the unobservable inputs for constant prepayment rate, loss severity and constant default rate relate to each of the individual underlying mortgage loans that comprise the entire portfolio of securities in the RMBS and CDO securitization vehicles and not necessarily to the securitization vehicle bonds (tranches) purchased by us. The ranges of these inputs do not directly correlate to changes in the fair values of the tranches purchased by us, because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points. (b) Represents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities. (c) The weighted averaging for fixed maturity securities is based on the estimated fair value of the securities. Because the valuation methodology for embedded derivatives within Policyholder contract deposits uses a range of inputs that vary at the contract level over the cash flow projection period, management believes that presenting a range, rather than weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (d) The Fortitude Re funds withheld payable has been excluded from the above table. As discussed in Note 7, the Fortitude Re funds withheld payable is created through modco and funds withheld reinsurance arrangements where the investments supporting the reinsurance agreements are withheld by, and continue to reside on AIG’s balance sheet. This embedded derivative is valued as a total return swap with reference to the fair value of the invested assets held by AIG. Accordingly, the unobservable inputs utilized in the valuation of the embedded derivative are a component of the invested assets supporting the reinsurance agreements that are held on AIG’s balance sheet. (e) Mortality inputs are shown as multipliers of the 2012 Individual Annuity Mortality Basic table. (f) The non-performance risk adjustment (NPA) applied as a spread over risk-free curve for discounting. (g) The partial withdrawal utilization unobservable input range shown applies only to policies with guaranteed minimum withdrawal benefit riders that are accounted for as an embedded derivative. The total embedded derivative liability at June 30, 2022 and December 31, 2021 was approximately $943 million and $1.2 billion, respectively. The remaining guaranteed minimum riders on the fixed index annuities are valued under the accounting guidance for certain nontraditional long-duration contracts. The ranges of reported inputs for Obligations of states, municipalities and political subdivisions, Corporate debt, RMBS, CDO/ABS, and CMBS valued using a discounted cash flow technique consist of one standard deviation in either direction from the value-weighted average. The preceding table does not give effect to our risk management practices that might offset risks inherent in these Level 3 assets and liabilities. Interrelationships between Unobservable Inputs We consider unobservable inputs to be those for which market data is not available and that are developed using the best information available to us about the assumptions that market participants would use when pricing the asset or liability. Relevant inputs vary depending on the nature of the instrument being measured at fair value. The following paragraphs provide a general description of significant unobservable inputs along with interrelationships between and among the significant unobservable inputs and their impact on the fair value measurements. In practice, simultaneous changes in assumptions may not always have a linear effect on the inputs discussed below. Interrelationships may also exist between observable and unobservable inputs. Such relationships have not been included in the discussion below. For each of the individual relationships described below, the inverse relationship would also generally apply. Fixed Maturity Securities The significant unobservable input used in the fair value measurement of fixed maturity securities is yield. The yield is affected by the market movements in credit spreads and U.S. Treasury yields. The yield may be affected by other factors including constant prepayment rates, loss severity, and constant default rates. In general, increases in the yield would decrease the fair value of investments, and conversely, decreases in the yield would increase the fair value of investments. Embedded derivatives within Policyholder contract deposits Embedded derivatives reported within Policyholder contract deposits include interest crediting rates based on market indices within fixed index annuities, indexed life, and GICs as well as GMWB within variable annuity and certain fixed index annuity

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	5. Investments SECURITIES AVAILABLE FOR SALE The following table presents the amortized cost and fair value of our available for sale securities: (in millions) Amortized Cost Allowance for Credit Losses (a) Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2022 Bonds available for sale: U.S. government and government sponsored entities $ 8,524 $ — $ 48 $ (426) $ 8,146 Obligations of states, municipalities and political subdivisions 13,013 — 256 (669) 12,600 Non-U.S. governments 15,065 (71) 123 (1,443) 13,674 Corporate debt 158,714 (77) 1,724 (17,620) 142,741 Mortgage-backed, asset-backed and collateralized: RMBS 20,060 (26) 1,125 (986) 20,173 CMBS 15,740 — 67 (920) 14,887 CDO/ABS 21,761 (1) 34 (1,280) 20,514 Total mortgage-backed, asset-backed and collateralized 57,561 (27) 1,226 (3,186) 55,574 Total bonds available for sale (b) $ 252,877 $ (175) $ 3,377 $ (23,344) $ 232,735 December 31, 2021 Bonds available for sale: U.S. government and government sponsored entities $ 7,874 $ — $ 347 $ (27) $ 8,194 Obligations of states, municipalities and political subdivisions 12,760 — 1,782 (15) 14,527 Non-U.S. governments 15,858 — 719 (247) 16,330 Corporate debt 163,064 (89) 13,892 (1,259) 175,608 Mortgage-backed, asset-backed and collateralized: RMBS 25,027 (9) 2,422 (153) 27,287 CMBS 15,333 — 555 (79) 15,809 CDO/ABS 19,294 — 276 (123) 19,447 Total mortgage-backed, asset-backed and collateralized 59,654 (9) 3,253 (355) 62,543 Total bonds available for sale (b) $ 259,210 $ (98) $ 19,993 $ (1,903) $ 277,202 (a) Represents the allowance for credit losses that has been recognized. Changes in the allowance for credit losses are recorded through Net realized gains (losses) and are not recognized in Other comprehensive income (loss). (b) At June 30, 2022 and December 31, 2021, bonds available for sale held by us that were below investment grade or not rated totaled $22.9 billion or 10 percent and $27.0 billion or 10 percent, respectively. Securities Available for Sale in a Loss Position for Which No Allowance for Credit Loss Has Been Recorded The following table summarizes the fair value and gross unrealized losses on our available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position for which no allowance for credit loss has been recorded: Less than 12 Months 12 Months or More Total (in millions) Fair Gross Fair Gross Fair Gross June 30, 2022 Bonds available for sale: U.S. government and government sponsored entities $ 6,962 $ 387 $ 439 $ 39 $ 7,401 $ 426 Obligations of states, municipalities and political subdivisions 6,802 641 99 28 6,901 669 Non-U.S. governments 9,110 988 1,658 455 10,768 1,443 Corporate debt 109,879 15,019 10,125 2,588 120,004 17,607 RMBS 10,351 809 914 123 11,265 932 CMBS 13,057 893 230 27 13,287 920 CDO/ABS 18,433 1,211 696 69 19,129 1,280 Total bonds available for sale $ 174,594 $ 19,948 $ 14,161 $ 3,329 $ 188,755 $ 23,277 December 31, 2021 Bonds available for sale: U.S. government and government sponsored entities $ 3,696 $ 14 $ 447 $ 13 $ 4,143 $ 27 Obligations of states, municipalities and political subdivisions 714 11 57 4 771 15 Non-U.S. governments 4,644 115 1,324 132 5,968 247 Corporate debt 31,914 720 8,819 467 40,733 1,187 RMBS 5,362 102 1,154 46 6,516 148 CMBS 3,980 63 153 16 4,133 79 CDO/ABS 8,263 112 339 11 8,602 123 Total bonds available for sale $ 58,573 $ 1,137 $ 12,293 $ 689 $ 70,866 $ 1,826 At June 30, 2022, we held 33,843 individual fixed maturity securities that were in an unrealized loss position and for which no allowance for credit losses has been recorded (including 4,273 individual fixed maturity securities that were in a continuous unrealized loss position for 12 months or more). At December 31, 2021, we held 15,029 individual fixed maturity securities that were in an unrealized loss position and for which no allowance for credit losses has been recorded (including 2,644 individual fixed maturity securities that were in a continuous unrealized loss position for 12 months or more). We did not recognize the unrealized losses in earnings on these fixed maturity securities at June 30, 2022 because it was determined that such losses were due to non-credit factors. Additionally, we neither intend to sell the securities nor do we believe that it is more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. For fixed maturity securities with significant declines, we performed fundamental credit analyses on a security-by-security basis, which included consideration of credit enhancements, liquidity position, expected defaults, industry and sector analysis, forecasts and available market data. Contractual Maturities of Fixed Maturity Securities Available for Sale The following table presents the amortized cost and fair value of fixed maturity securities available for sale by contractual maturity: Total Fixed Maturity Securities (in millions) Amortized Cost, Fair Value June 30, 2022 Due in one year or less $ 7,507 $ 7,478 Due after one year through five years 49,832 48,172 Due after five years through ten years 44,844 41,309 Due after ten years 92,985 80,202 Mortgage-backed, asset-backed and collateralized 57,534 55,574 Total $ 252,702 $ 232,735 Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations with or without call or prepayment penalties. The following table presents the gross realized gains and gross realized losses from sales or maturities of our available for sale securities: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in millions) Gross Realized Gains Gross Realized Losses Gross Realized Gains Gross Realized Losses Gross Realized Gains Gross Realized Losses Gross Realized Gains Gross Realized Losses Fixed maturity securities $ 186 $ 790 $ 290 $ 155 $ 283 $ 1,026 $ 750 $ 226 For the three- and six-month periods ended June 30, 2022, the aggregate fair value of available for sale securities sold was $9.2 billion and $14.0 billion, respectively, which resulted in net realized gains (losses) of $(604) million and $(743) million, respectively. Included within the net realized gains (losses) are $(122) million and $(154) million of net realized gains (losses) for the three- and six-month periods ended June 30, 2022, respectively, which relate to Fortitude Re funds withheld assets. These net realized gains (losses) are included in Net realized gains (losses) on Fortitude Re funds withheld assets. For the three- and six-month periods ended June 30, 2021, the aggregate fair value of available for sale securities sold was $6.0 billion and $12.4 billion, respectively, which resulted in net realized gains of $135 million and $524 million, respectively. Included within the net realized gains are $95 million and $390 million of net realized gains for the three- and six-month periods ended June 30, 2021, respectively, which relate to Fortitude Re funds withheld assets. These net realized gains are included in Net realized gains (losses) on Fortitude Re funds withheld assets. OTHER SECURITIES MEASURED AT FAIR VALUE The following table presents the fair value of fixed maturity securities measured at fair value based on our election of the fair value option, which are reported in the other bond securities caption in the financial statements, and equity securities measured at fair value: (in millions) June 30, 2022 December 31, 2021 Fair Percent Fair Percent Fixed maturity securities: U.S. government and government sponsored entities $ 1,620 22 % $ 1,750 25 % Obligations of states, municipalities and political subdivisions 99 1 97 1 Non-U.S. governments 76 1 76 1 Corporate debt 1,661 22 1,050 15 Mortgage-backed, asset-backed and collateralized: RMBS 294 4 411 6 CMBS 321 4 315 4 CDO/ABS and other collateralized 2,827 38 2,579 37 Total mortgage-backed, asset-backed and collateralized 3,442 46 3,305 47 Total fixed maturity securities 6,898 92 6,278 89 Equity securities 629 8 739 11 Total $ 7,527 100 % $ 7,017 100 % OTHER INVESTED ASSETS The following table summarizes the carrying amount of other invested assets: (in millions) June 30, 2022 December 31, 2021 Alternative investments (a)(b) $ 11,520 $ 10,951 Investment real estate (c) 2,565 2,727 All other investments (d) 1,955 1,990 Total $ 16,040 $ 15,668 (a) At June 30, 2022, included hedge funds of $1.6 billion and private equity funds of $9.9 billion. At December 31, 2021, included hedge funds of $2.0 billion, private equity funds of $8.9 billion. (b) At June 30, 2022, approximately 58 percent of our hedge fund portfolio is available for redemption in 2022. The remaining 42 percent will be available for redemption between 2023 and 2028. (c) Represents values net of accumulated depreciation. At June 30, 2022 and December 31, 2021, the accumulated depreciation was $813 million and $778 million, respectively. (d) Includes AIG's ownership interest in Fortitude Group Holdings, LLC (FRL), which is recorded using the measurement alternative for equity securities. Our investment in FRL totaled $156 million and $100 million at June 30, 2022 and December 31, 2021, respectively. NET INVESTMENT INCOME The following table presents the components of Net investment income: Three Months Ended June 30, 2022 2021 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 2,147 $ 267 $ 2,414 $ 2,130 $ 361 $ 2,491 Other fixed maturity securities (a) (175) (180) (355) 93 6 99 Equity securities (30) — (30) (13) — (13) Interest on mortgage and other loans 460 51 511 446 57 503 Alternative investments (b) 109 56 165 579 92 671 Real estate 32 — 32 57 — 57 Other investments (c) 37 3 40 (19) 1 (18) Total investment income 2,580 197 2,777 3,273 517 3,790 Investment expenses 164 9 173 105 10 115 Net investment income $ 2,416 $ 188 $ 2,604 $ 3,168 $ 507 $ 3,675 Six Months Ended June 30, 2022 2021 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 4,188 $ 568 $ 4,756 $ 4,308 $ 738 $ 5,046 Other fixed maturity securities (a) (376) (298) (674) (9) 6 (3) Equity securities (57) — (57) 9 — 9 Interest on mortgage and other loans 913 97 1,010 860 104 964 Alternative investments (b) 778 127 905 1,151 161 1,312 Real estate 32 — 32 116 — 116 Other investments (c) 194 3 197 121 2 123 Total investment income 5,672 497 6,169 6,556 1,011 7,567 Investment expenses 310 18 328 217 18 235 Net investment income $ 5,362 $ 479 $ 5,841 $ 6,339 $ 993 $ 7,332 (a) Included in the three- and six-month periods ended June 30, 2022 were income (loss) of $(55) million and $(151) million, respectively, related to fixed maturity securities measured at fair value that economically hedge liabilities described in (c) below. Included in the three- and six-month periods ended June 30, 2021 were income (loss) of $35 million and $(46) million, respectively, related to fixed maturity securities measured at fair value that economically hedge liabilities described in (c) below. (b) Included income from hedge funds, private equity funds and affordable housing partnerships. Hedge funds are recorded as of the balance sheet date. Private equity funds are generally reported on a one-quarter lag. (c) Included in the three- and six-month periods ended June 30, 2022 were income (loss) of $41 million and $132 million, respectively, related to liabilities measured at fair value that are economically hedged with fixed maturity securities as described in (a) above. Included in the three- and six-month periods ended June 30, 2021 were income (loss) of $(40) million and $43 million, respectively, related to liabilities measured at fair value that are economically hedged with fixed maturity securities as described in (a) above. NET REALIZED GAINS AND LOSSES The following table presents the components of Net realized gains (losses): Three Months Ended June 30, 2022 2021 (in millions) Excluding Fortitude Re Total Excluding Fortitude Re Total Sales of fixed maturity securities $ (482) $ (122) $ (604) $ 40 $ 95 $ 135 Change in allowance for credit losses on fixed maturity securities (47) (1) (48) 10 4 14 Change in allowance for credit losses on loans 24 6 30 67 8 75 Foreign exchange transactions (231) (15) (246) 139 9 148 Variable annuity embedded derivatives, net of related hedges 454 — 454 (53) — (53) All other derivatives and hedge accounting 970 48 1,018 (336) 60 (276) Sales of alternative investments and real estate investments 7 2 9 31 (3) 28 Other 7 (4) 3 59 — 59 Net realized gains (losses) – excluding Fortitude Re funds withheld embedded derivative 702 (86) 616 (43) 173 130 Net realized gains (losses) on Fortitude Re funds withheld embedded derivative — 2,776 2,776 — (2,056) (2,056) Net realized gains (losses) $ 702 $ 2,690 $ 3,392 $ (43) $ (1,883) $ (1,926) Six Months Ended June 30, 2022 2021 (in millions) Excluding Fortitude Re Funds Withheld Assets Fortitude Re Funds Withheld Assets Total Excluding Fortitude Re Total Sales of fixed maturity securities $ (589) $ (154) $ (743) $ 134 $ 390 $ 524 Change in allowance for credit losses on fixed maturity securities (100) (41) (141) 61 6 67 Change in allowance for credit losses on loans 5 (2) 3 108 3 111 Foreign exchange transactions (245) (24) (269) 90 3 93 Variable annuity embedded derivatives, net of related hedges 960 — 960 36 — 36 All other derivatives and hedge accounting 1,909 (8) 1,901 15 (57) (42) Sales of alternative investments and real estate investments 23 3 26 57 1 58 Other (20) — (20) 151 — 151 Net realized gains (losses) – excluding Fortitude Re funds withheld embedded derivative 1,943 (226) 1,717 652 346 998 Net realized gains on Fortitude Re funds withheld embedded derivative — 6,094 6,094 — 326 326 Net realized gains $ 1,943 $ 5,868 $ 7,811 $ 652 $ 672 $ 1,324 CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENTS The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (17,897) $ 5,851 $ (38,057) $ (5,798) Other investments (7) (5) (14) (5) Total increase (decrease) in unrealized appreciation (depreciation) of investments $ (17,904) $ 5,846 $ (38,071) $ (5,803) The following table summarizes the unrealized gains and losses recognized in Net investment income during the reporting period on equity securities and other investments still held at the reporting date: Three Months Ended June 30, 2022 2021 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ (30) $ (71) $ (101) $ (13) $ 543 $ 530 Less: Net losses recognized during the period on equity securities and other investments sold during the period (1) (33) (34) (179) (9) (188) Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ (29) $ (38) $ (67) $ 166 $ 552 $ 718 Six Months Ended June 30, 2022 2021 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ (57) $ 404 $ 347 $ 9 $ 1,013 $ 1,022 Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period 93 (36) 57 (200) 15 (185) Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ (150) $ 440 $ 290 $ 209 $ 998 $ 1,207 EVALUATING INVESTMENTS FOR AN ALLOWANCE FOR CREDIT LOSSES For a discussion of our policy for evaluating investments for an allowance for credit losses, see Note 5 to the Consolidated Financial Statements in the 2021 Annual Report. Credit Impairments The following table presents a rollforward of the changes in allowance for credit losses on available for sale fixed maturity securities by major investment category: Three Months Ended June 30, 2022 2021 (in millions) Structured Non-Structured Total Structured Non- Total Balance, beginning of period $ 15 $ 176 $ 191 $ 14 $ 108 $ 122 Additions: Securities for which allowance for credit losses were not previously recorded 2 28 30 6 15 21 Reductions: Securities sold during the period (1) (40) (41) (2) (3) (5) Addition to (release of) the allowance for credit losses on securities that had an allowance recorded in a previous period, for which there was no intent to sell before recovery of amortized cost basis 10 8 18 (8) (27) (35) Write-offs charged against the allowance — (22) (22) — (6) (6) Other — (1) (1) — — — Balance, end of period $ 26 $ 149 $ 175 $ 10 $ 87 $ 97 Six Months Ended June 30, 2022 2021 (in millions) Structured Non-Structured Total Structured Non- Total Balance, beginning of period $ 8 $ 90 $ 98 $ 17 $ 169 $ 186 Additions: Securities for which allowance for credit losses were not previously recorded 51 156 207 8 28 36 Reductions: Securities sold during the period (1) (41) (42) (3) (7) (10) Addition to (release of) the allowance for credit losses on securities that had an allowance recorded in a previous period, for which there was no intent to sell before recovery of amortized cost basis (32) (34) (66) (12) (91) (103) Write-offs charged against the allowance — (22) (22) — (12) (12) Other — — — — — — Balance, end of period $ 26 $ 149 $ 175 $ 10 $ 87 $ 97 Purchased Credit Deteriorated (PCD) Securities We purchase certain RMBS securities that have experienced more-than-insignificant deterioration in credit quality since origination. These are referred to as PCD assets. At the time of purchase an allowance is recognized for these PCD assets by adding it to the purchase price to arrive at the initial amortized cost. There is no credit loss expense recognized upon acquisition of a PCD asset. When determining the initial allowance for credit losses, management considers the historical performance of underlying assets and available market information as well as bond-specific structural considerations, such as credit enhancement and the priority of payment structure of the security. In addition, the process of estimating future cash flows includes, but is not limited to, the following critical inputs: • Current delinquency rates; • Expected default rates and the timing of such defaults; • Loss severity and the timing of any recovery; and • Expected prepayment speeds. Subsequent to the acquisition date, the PCD assets follow the same accounting as other structured securities that are not high credit quality. We did not purchase securities with more than insignificant credit deterioration since their origination during the six-month periods ended June 30, 2022 and 2021. PLEDGED INVESTMENTS Secured Financing and Similar Arrangements We enter into secured financing transactions whereby certain securities are sold under agreements to repurchase (repurchase agreements), in which we transfer securities in exchange for cash, with an agreement by us to repurchase the same or substantially similar securities. Our secured financing transactions also include those that involve the transfer of securities to financial institutions in exchange for cash (securities lending agreements). In all of these secured financing transactions, the securities transferred by us (pledged collateral) may be sold or repledged by the counterparties. These agreements are recorded at their contracted amounts plus accrued interest, other than those that are accounted for at fair value. Pledged collateral levels are monitored daily and are generally maintained at an agreed-upon percentage of the fair value of the amounts borrowed during the life of the transactions. In the event of a decline in the fair value of the pledged collateral under these secured financing transactions, we may be required to transfer cash or additional securities as pledged collateral under these agreements. At the termination of the transactions, we and our counterparties are obligated to return the amounts borrowed and the securities transferred, respectively. The following table presents the fair value of securities pledged to counterparties under secured financing transactions, including repurchase and securities lending agreements: (in millions) June 30, 2022 December 31, 2021 Fixed maturity securities available for sale $ 2,937 $ 3,583 At June 30, 2022 and December 31, 2021, amounts borrowed under repurchase and securities lending agreements totaled $3.5 billion and $3.7 billion, respectively. The following table presents the fair value of securities pledged under our repurchase agreements by collateral type and by remaining contractual maturity: Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 31 - 90 91 - 364 365 days or greater Total June 30, 2022 Bonds available for sale: Non-U.S. governments $ 42 $ — $ — $ — $ — $ 42 Corporate debt 219 61 — — — 280 Total $ 261 $ 61 $ — $ — $ — $ 322 December 31, 2021 Bonds available for sale: Non-U.S. governments $ 48 $ — $ — $ — $ — $ 48 Corporate debt 128 61 22 — — 211 Total $ 176 $ 61 $ 22 $ — $ — $ 259 The following table presents the fair value of securities pledged under our securities lending agreements by collateral type and by remaining contractual maturity: Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 31 - 90 91 - 364 365 days or greater Total June 30, 2022 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ 197 $ — $ — $ — $ 197 Non-U.S. governments — 457 13 — — 470 Corporate debt — 1,816 132 — — 1,948 Other bond securities: Non-U.S. governments — — — — — — Corporate debt — — — — — — Total $ — $ 2,470 $ 145 $ — $ — $ 2,615 December 31, 2021 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ — $ 106 $ — $ — $ 106 Non-U.S. governments — — 43 — — 43 Corporate debt — 534 2,641 — — 3,175 Total $ — $ 534 $ 2,790 $ — $ — $ 3,324 We also enter into agreements in which securities are purchased by us under agreements to resell (reverse repurchase agreements), which are accounted for as secured financing transactions and reported as short-term investments or other assets, depending on their terms. These agreements are recorded at their contracted resale amounts plus accrued interest, other than those that are accounted for at fair value. In all reverse repurchase transactions, we take possession of or obtain a security interest in the related securities, and we have the right to sell or repledge this collateral received. The following table presents information on the fair value of securities pledged to us under reverse repurchase agreements: (in millions) June 30, 2022 December 31, 2021 Securities collateral pledged to us $ 411 $ 1,839 At June 30, 2022 and December 31, 2021, the carrying value of reverse repurchase agreements totaled $409 million and $1.9 billion, respectively. We do not currently offset any secured financing transactions. All such transactions are collateralized and margined on a daily basis consistent with market standards and subject to enforceable master netting arrangements with rights of set off. Insurance – Statutory and Other Deposits The total carrying value of cash and securities deposited by our insurance subsidiaries under requirements of regulatory authorities or other insurance-related arrangements, including certain annuity-related obligations and certain reinsurance contracts, was $12.1 billion and $13.5 billion at June 30, 2022 and December 31, 2021, respectively. Other Pledges and Restrictions Certain of our subsidiaries are members of Federal Home Loan Banks (FHLBs) and such membership requires the members to own stock in these FHLBs. We owned an aggregate of $213 million and $211 million of stock in FHLBs at June 30, 2022 and December 31, 2021, respectively. In addition, our subsidiaries have pledged securities available for sale and residential loans associated with borrowings and funding agreements from FHLBs, with a fair value of $4.8 billion and $2.0 billion, respectively, at June 30, 2022 and $5.1 billion and $1.5 billion, respectively, at December 31, 2021. Certain GIAs have provisions that require collateral to be posted or payments to be made by us upon a downgrade of our long-term debt ratings. The actual amount of collateral required to be posted to the counterparties in the event of such downgrades, and the aggregate amount of payments that we could be required to make, depend on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. The fair value of securities pledged as collateral with respect to these obligations was approximately $1.5 billion and $1.4 billion, at June 30, 2022 and December 31, 2021, respectively. This collateral primarily consists of securities of the U.S. government and government sponsored entities and generally cannot be repledged or resold by the counterparties. Investments held in escrow accounts or otherwise subject to restriction as to their use were $571 million and $514 million, comprised of bonds available for sale and short-term investments at June 30, 2022 and December 31, 2021, respectively. Reinsurance transactions between AIG and Fortitude Re were structured as modco and loss portfolio transfer arrangements with funds withheld.

Lending Activities

Lending Activities	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Lending Activities	6. Lending Activities The following table presents the composition of Mortgage and other loans receivable, net: (in millions) June 30, 2022 December 31, 2021 Commercial mortgages (a) $ 37,205 $ 35,665 Residential mortgages 5,720 5,492 Life insurance policy loans 1,787 1,843 Commercial loans, other loans and notes receivable (b) 5,205 3,677 Total mortgage and other loans receivable 49,917 46,677 Allowance for credit losses (c) (603) (629) Mortgage and other loans receivable, net $ 49,314 $ 46,048 (a) Commercial mortgages primarily represent loans for apartments, offices and retail properties, with exposures in New York and California representing the largest geographic concentrations (aggregating approximately 20 percent and 12 percent, respectively, at June 30, 2022 and 21 percent and 10 percent, respectively, at December 31, 2021). (b) Includes loans held for sale which are carried at lower of cost or market and are collateralized primarily by apartments. As of June 30, 2022 and December 31, 2021, the net carrying value of these loans were $186 million and $15 million, respectively. (c) Does not include allowance for credit losses of $89 million and $71 million, respectively, at June 30, 2022 and December 31, 2021, in relation to off-balance-sheet commitments to fund commercial mortgage loans, which is recorded in Other liabilities. Interest income is not accrued when payment of contractual principal and interest is not expected. Any cash received on impaired loans is generally recorded as a reduction of the current carrying amount of the loan. Accrual of interest income is generally resumed when delinquent contractual principal and interest is repaid or when a portion of the delinquent contractual payments are made and the ongoing required contractual payments have been made for an appropriate period. As of June 30, 2022, $8 million and $337 million of residential mortgage loans and commercial mortgage loans, respectively, were placed on nonaccrual status. As of December 31, 2021, $7 million and $226 million of residential mortgage loans and commercial mortgage loans, respectively, were placed on nonaccrual status. Accrued interest is presented separately and is included in Accrued investment income on the Condensed Consolidated Balance Sheets. As of June 30, 2022, accrued interest receivable was $13 million and $134 million associated with residential mortgage loans and commercial mortgage loans, respectively. As of December 31, 2021, accrued interest receivable was $12 million and $126 million associated with residential mortgage loans and commercial mortgage loans, respectively. A significant majority of commercial mortgages in the portfolio are non-recourse loans and, accordingly, the only guarantees are for specific items that are exceptions to the non-recourse provisions. It is therefore extremely rare for us to have cause to enforce the provisions of a guarantee on a commercial real estate or mortgage loan. Nonperforming loans are generally those loans where payment of contractual principal or interest is more than 90 days past due. Nonperforming loans were not significant for any of the periods presented. CREDIT QUALITY OF COMMERCIAL MORTGAGES The following table presents debt service coverage ratios (a) for commercial mortgages by year of vintage: June 30, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) >1.2X $ 3,687 $ 2,347 $ 1,671 $ 5,032 $ 4,002 $ 13,827 $ 30,566 1.00 - 1.20X 174 654 992 553 1,137 1,214 4,724 <1.00X — — 23 71 613 1,208 1,915 Total commercial mortgages $ 3,861 $ 3,001 $ 2,686 $ 5,656 $ 5,752 $ 16,249 $ 37,205 December 31, 2021 2021 2020 2019 2018 2017 Prior Total (in millions) >1.2X $ 2,245 $ 1,662 $ 5,126 $ 3,926 $ 3,557 $ 10,796 $ 27,312 1.00 - 1.20X 574 1,019 700 1,138 136 1,929 5,496 <1.00X 1 27 71 925 41 1,792 2,857 Total commercial mortgages $ 2,820 $ 2,708 $ 5,897 $ 5,989 $ 3,734 $ 14,517 $ 35,665 The following table presents loan-to-value ratios (b) for commercial mortgages by year of vintage: June 30, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) Less than 65% $ 3,330 $ 2,408 $ 2,227 $ 3,960 $ 4,560 $ 11,210 $ 27,695 65% to 75% 531 447 398 1,659 1,162 3,455 7,652 76% to 80% — 114 — — 30 468 612 Greater than 80% — 32 61 37 — 1,116 1,246 Total commercial mortgages $ 3,861 $ 3,001 $ 2,686 $ 5,656 $ 5,752 $ 16,249 $ 37,205 December 31, 2021 2021 2020 2019 2018 2017 Prior Total (in millions) Less than 65% $ 2,286 $ 2,272 $ 4,149 $ 4,815 $ 2,892 $ 9,902 $ 26,316 65% to 75% 372 410 1,748 1,174 406 3,490 7,600 76% to 80% — — — — 188 274 462 Greater than 80% 162 26 — — 248 851 1,287 Total commercial mortgages $ 2,820 $ 2,708 $ 5,897 $ 5,989 $ 3,734 $ 14,517 $ 35,665 (a) The debt service coverage ratio compares a property’s net operating income to its debt service payments, including principal and interest. Our weighted average debt service coverage ratio was 1.9X at both June 30, 2022 and December 31, 2021. The debt service coverage ratios have been updated within the last three months. The debt service coverage ratios are updated when additional relevant information becomes available. (b) The loan-to-value ratio compares the current unpaid principal balance of the loan to the estimated fair value of the underlying property collateralizing the loan. Our weighted average loan-to-value ratio was 57 percent at June 30, 2022 and was 57 percent at December 31, 2021. The loan-to-value ratios have been updated within the last three months. The following table presents the credit quality performance indicators for commercial mortgages: Number Class Percent (dollars in millions) Apartments Offices Retail Industrial Hotel Others Total June 30, 2022 Credit Quality Performance Indicator: In good standing 631 $ 13,706 $ 10,513 $ 4,290 $ 5,505 $ 2,055 $ 393 $ 36,462 98 % Restructured (a) 10 — 353 140 — 137 — 630 2 90 days or less delinquent — — — — — — — — — >90 days delinquent or in process of foreclosure 3 — 65 48 — — — 113 — Total (b) 644 $ 13,706 $ 10,931 $ 4,478 $ 5,505 $ 2,192 $ 393 $ 37,205 100 % Allowance for credit losses $ 88 $ 230 98 67 33 9 $ 525 1 % December 31, 2021 Credit Quality Performance Indicator: In good standing 636 $ 14,267 $ 9,695 $ 4,778 $ 3,858 $ 1,985 $ 432 $ 35,015 98 % Restructured (a) 8 — 354 25 — 136 — 515 2 90 days or less delinquent — — — — — — — — — >90 days delinquent or in process of foreclosure 5 — 81 54 — — — 135 — Total (b) 649 $ 14,267 $ 10,130 $ 4,857 $ 3,858 $ 2,121 $ 432 $ 35,665 100 % Allowance for credit losses $ 109 $ 247 $ 103 $ 47 $ 31 $ 8 $ 545 2 % (a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. For additional discussion of troubled debt restructurings see Note 6 to the Consolidated Financial Statements in the 2021 Annual Report. (b) Does not reflect allowance for credit losses. The following table presents credit quality performance indicators for residential mortgages by year of vintage: June 30, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) FICO*: 780 and greater $ 199 $ 2,266 $ 674 $ 243 $ 83 $ 596 $ 4,061 720 - 779 200 752 174 78 33 177 1,414 660 - 719 8 82 29 16 10 66 211 600 - 659 — 4 2 2 2 16 26 Less than 600 — — — 1 — 7 8 Total residential mortgages $ 407 $ 3,104 $ 879 $ 340 $ 128 $ 862 $ 5,720 December 31, 2021 2021 2020 2019 2018 2017 Prior Total (in millions) FICO*: 780 and greater $ 1,601 $ 691 $ 297 $ 107 $ 192 $ 501 $ 3,389 720 - 779 1,306 230 86 44 58 154 1,878 660 - 719 48 42 22 12 20 49 193 600 - 659 1 1 2 3 2 12 21 Less than 600 — — 1 1 2 7 11 Total residential mortgages $ 2,956 $ 964 $ 408 $ 167 $ 274 $ 723 $ 5,492 * Fair Isaac Corporation (FICO) is the credit quality indicator used to evaluate consumer credit risk for residential mortgage loan borrowers and have been updated within the last twelve months. METHODOLOGY USED TO ESTIMATE THE ALLOWANCE FOR CREDIT LOSSES For a discussion of our accounting policy for evaluating Mortgage and other loans receivable for impairment see Note 6 to the Consolidated Financial Statements in the 2021 Annual Report. The following table presents a rollforward of the changes in the allowance for credit losses on Mortgage and other loans receivable (a) : Three Months Ended June 30, 2022 2021 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of period $ 533 $ 84 $ 617 $ 662 $ 125 $ 787 Loans charged off — — — — — — Net charge-offs — — — — — — Addition to (release of) allowance for loan losses (8) (6) (14) (75) (11) (86) Allowance, end of period $ 525 $ 78 $ 603 $ 587 $ 114 $ 701 Six Months Ended June 30, 2022 2021 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of year $ 545 $ 84 $ 629 $ 685 $ 129 $ 814 Loans charged off (4) — (4) — — — Net charge-offs (4) — (4) — — — Addition to (release of) allowance for loan losses (16) (6) (22) (98) (15) (113) Allowance, end of period $ 525 $ 78 $ 603 $ 587 $ 114 $ 701 (a) Does not include allowance for credit losses of $89 million and $81 million, respectively, at June 30, 2022 and 2021 in relation to off-balance-sheet commitments to fund commercial mortgage loans, which is recorded in Other liabilities. Our expectations and models used to estimate the allowance for losses on commercial and residential mortgage loans are regularly updated to reflect the current economic environment. The full impact of COVID-19 on real estate valuations remains uncertain and we will continue to review our valuations as further information becomes available. TROUBLED DEBT RESTRUCTURINGS We modify loans to optimize their returns and improve their collectability, among other things. When we undertake such a modification with a borrower that is experiencing financial difficulty and the modification involves us granting a concession to the troubled debtor, the modification is a troubled debt restructuring (TDR). We assess whether a borrower is experiencing financial difficulty based on a variety of factors, including the borrower’s current default on any of its outstanding debt, the probability of a default on any of its debt in the foreseeable future without the modification, the insufficiency of the borrower’s forecasted cash flows to service any of its outstanding debt (including both principal and interest), and the borrower’s inability to access alternative third-party financing at an interest rate that would be reflective of current market conditions for a non-troubled debtor. Concessions granted may include extended maturity dates, interest rate changes, principal or interest forgiveness, payment deferrals and easing of loan covenants. During the six-month periods ended June 30, 2022 and 2021, loans with a carrying value of $115 million and $46 million, respectively, were modified in TDRs.

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Reinsurance	7. Reinsurance FORTITUDE RE Fortitude Re is the reinsurer of the majority of AIG’s run-off operations. The reinsurance transactions are structured as modco and loss portfolio transfer arrangements with funds withheld (funds withheld). In modco and funds withheld arrangements, the investments supporting the reinsurance agreements, and which reflect the majority of the consideration that would be paid to the reinsurer for entering into the transaction, are withheld by, and therefore continue to reside on the balance sheet of, the ceding company (i.e., AIG) thereby creating an obligation for the ceding company to pay the reinsurer (i.e., Fortitude Re) at a later date. Additionally, as AIG maintains ownership of these investments, AIG will maintain its existing accounting for these assets (e.g., the changes in fair value of available for sale securities will be recognized within Other comprehensive income (loss)). As a result of the deconsolidation resulting from the Majority Interest Fortitude Sale, AIG has established a funds withheld payable to Fortitude Re while simultaneously establishing a reinsurance asset representing reserves for the insurance coverage that Fortitude Re has assumed. The funds withheld payable contains an embedded derivative and changes in fair value of the embedded derivative related to the funds withheld payable are recognized in earnings through Net realized gains (losses). This embedded derivative is considered a total return swap with contractual returns that are attributable to various assets and liabilities associated with these reinsurance agreements. For additional information on Fortitude Re see Note 7 to the Consolidated Financial Statements in the 2021 Annual Report. There is a diverse pool of assets supporting the funds withheld arrangements with Fortitude Re. The following summarizes the composition of the pool of assets: June 30, 2022 December 31, 2021 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 21,982 $ 21,982 $ 31,815 $ 31,815 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 3,309 3,309 1,983 1,983 Fair value through net investment income Commercial mortgage loans 4,126 4,010 3,637 3,859 Amortized cost Real estate investments 168 422 201 395 Amortized cost Private equity funds / hedge funds 1,794 1,794 1,606 1,606 Fair value through net investment income Policy loans 364 364 380 380 Amortized cost Short-term investments 135 135 50 50 Fair value through net investment income Funds withheld investment assets 31,878 32,016 39,672 40,088 Derivative assets, net (b) 94 94 81 81 Fair value through net realized gains (losses) Other (c) 860 860 602 602 Amortized cost Total $ 32,832 $ 32,970 $ 40,355 $ 40,771 (a) The change in the net unrealized gains (losses) on available for sale securities related to the Fortitude Re funds withheld assets was $(6.1) billion ($(4.8) billion after-tax) and $(1.6) billion ($(1.3) billion after-tax), respectively for the six months ended June 30, 2022 and 2021. (b) The derivative assets and liabilities have been presented net of cash collateral. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $369 million and $20 million, respectively, as of June 30, 2022. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $389 million and $10 million, respectively, as of December 31, 2021. These derivative assets and liabilities are fully collateralized either by cash or securities. (c) Primarily comprised of Cash and Accrued investment income. The impact of the funds withheld arrangements with Fortitude Re was as follows: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Net underwriting income $ — $ — $ — $ — Net investment income - Fortitude Re funds withheld assets 188 507 479 993 Net realized gains (losses) on Fortitude Re funds withheld assets: Net realized gains (losses) - Fortitude Re funds withheld assets (86) 173 (226) 346 Net realized gains (losses) - Fortitude Re embedded derivatives 2,776 (2,056) 6,094 326 Net realized gains (losses) on Fortitude Re funds withheld assets 2,690 (1,883) 5,868 672 Income (loss) from continuing operations before income tax expense (benefit) 2,878 (1,376) 6,347 1,665 Income tax expense (benefit) 605 (289) 1,333 350 Income tax expense (benefit) (a) 2,273 (1,087) 5,014 1,315 Change in unrealized appreciation (depreciation) of all other investments (a) (2,156) 1,055 (4,794) (1,285) Comprehensive income (loss) $ 117 $ (32) $ 220 $ 30 (a) The income tax expense (benefit) and the tax impact in AOCI was computed using AIG’s U.S. statutory tax rate of 21 percent. Various assets supporting the Fortitude Re funds withheld arrangements are reported at amortized cost, and as such, changes in the fair value of these assets are not reflected in the financial statements. However, changes in the fair value of these assets are included in the embedded derivative in the Fortitude Re funds withheld arrangements and the appreciation of these assets is the primary driver of the comprehensive income (loss) reflected above. REINSURANCE – CREDIT LOSSES The estimation of reinsurance recoverables involves a significant amount of judgment, particularly for latent exposures, such as asbestos, due to their long-tail nature. Reinsurance assets include reinsurance recoverables on unpaid losses and loss adjustment expenses that are estimated as part of our loss reserving process and, consequently, are subject to similar judgments and uncertainties as the estimation of gross loss reserves. Similarly, Other assets include reinsurance recoverables for contracts which are accounted for as deposits. We assess the collectability of reinsurance recoverable balances in each reporting period, through either historical trends of disputes and credit events or financial analysis of the credit quality of the reinsurer. We record adjustments to reflect the results of these assessments through an allowance for credit losses and disputes that reduces the carrying amount of reinsurance and other assets on the consolidated balance sheets (collectively, reinsurance recoverables). This estimate requires significant judgment for which key considerations include: • paid and unpaid amounts recoverable; • whether the balance is in dispute or subject to legal collection; • the relative financial health of the reinsurer as determined by the Obligor Risk Ratings (ORRs) we assign to each reinsurer based upon our financial reviews; reinsurers that are financially troubled (i.e., in run-off, have voluntarily or involuntarily been placed in receivership, are insolvent, are in the process of liquidation or otherwise subject to formal or informal regulatory restriction) are assigned ORRs that will generate a significant allowance; and • whether collateral and collateral arrangements exist. An estimate of the reinsurance recoverables lifetime expected credit losses is established utilizing a probability of default and loss given default method, which reflects the reinsurer’s ORR. The allowance for credit losses excludes disputed amounts. An allowance for disputes is established for a reinsurance recoverable using the losses incurred model for contingencies. The total reinsurance recoverables as of June 30, 2022 were $76.6 billion. As of that date, utilizing AIG’s ORRs, (i) approximately 92 percent of the reinsurance recoverables were investment grade, of which 53 percent related to General Insurance and 39 percent related to Life and Retirement; (ii) approximately 7 percent of the reinsurance recoverables were non-investment grade, the majority of which related to General Insurance; (iii) less than one percent of the non-investment grade reinsurance recoverables related to Life and Retirement and (iv) approximately one percent of the reinsurance recoverables related to entities that were not rated by AIG. The total reinsurance recoverables as of December 31, 2021 were $76.3 billion. As of that date, utilizing AIG’s ORRs, (i) approximately 92 percent of the reinsurance recoverables were investment grade, of which 52 percent related to General Insurance and 40 percent related to Life and Retirement; (ii) approximately 7 percent of the reinsurance recoverables were non-investment grade, the majority of which related to General Insurance; (iii) less than one percent of the non-investment grade reinsurance recoverables related to Life and Retirement and (iv) approximately one percent of the reinsurance recoverables related to entities that were not rated by AIG. As of June 30, 2022 and December 31, 2021, approximately 72 percent and 71 percent, respectively, of our non-investment grade reinsurance exposure related to captive insurers. These arrangements are typically collateralized by letters of credit, funds withheld or trust agreements. Reinsurance Recoverable Allowance The following table presents a rollforward of the reinsurance recoverable allowance : Three Months Ended June 30, 2022 2021 (in millions) General Insurance Life and Retirement Total General Insurance Life and Retirement Total Balance, beginning of period $ 286 $ 105 $ 391 $ 291 $ 87 $ 378 Addition to (release of) allowance for expected credit losses and disputes, net (4) 2 (2) (1) — (1) Write-offs charged against the allowance for credit losses and disputes — — — (3) — (3) Recoveries of amounts previously written off 2 — 2 — — — Other changes — — — — — — Balance, end of period $ 284 $ 107 $ 391 $ 287 $ 87 $ 374 Six Months Ended June 30, 2022 2021 (in millions) General Insurance Life and Retirement Total General Insurance Life and Retirement Total Balance, beginning of year $ 281 $ 101 $ 382 $ 292 $ 83 $ 375 Addition to (release of) allowance for expected credit losses and disputes, net 1 6 7 — 4 4 Write-offs charged against the allowance for credit losses and disputes (2) — (2) (7) — (7) Recoveries of amounts previously written off 2 — 2 — — — Other changes 2 — 2 2 — 2 Balance, end of period $ 284 $ 107 $ 391 $ 287 $ 87 $ 374 There were no material recoveries of credit losses previously written off for the three- and six-month periods ended June 30, 2021. Past-Due Status We consider a reinsurance asset to be past due when it is 90 days past due. The allowance for credit losses is estimated excluding disputed amounts. An allowance for disputes is established using the losses incurred method for contingencies. Past due balances on claims that are not in dispute were not material for any of the periods presented.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	8. Variable Interest Entities We enter into various arrangements with variable interest entities (VIEs) in the normal course of business and consolidate the VIEs when we determine we are the primary beneficiary. This analysis includes a review of the VIE’s capital structure, related contractual relationships and terms, nature of the VIE’s operations and purpose, nature of the VIE’s interests issued and our involvement with the entity. When assessing the need to consolidate a VIE, we evaluate the design of the VIE as well as the related risks to which the entity was designed to expose the variable interest holders. The primary beneficiary is the entity that has both (i) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and (ii) the obligation to absorb losses or the right to receive benefits that could be potentially significant to the VIE. While also considering these factors, the consolidation conclusion depends on the breadth of our decision-making ability and our ability to influence activities that significantly affect the economic performance of the VIE. BALANCE SHEET CLASSIFICATION AND EXPOSURE TO LOSS Creditors or beneficial interest holders of VIEs for which AIG is the primary beneficiary generally have recourse only to the assets and cash flows of the VIEs and do not have recourse to AIG, except in limited circumstances when AIG has provided a guarantee to the VIE’s interest holders. The following table presents the total assets and total liabilities associated with our variable interests in consolidated VIEs, as classified in the Condensed Consolidated Balance Sheets: (in millions) Real Estate and Investment Entities (d) Securitization Vehicles Total June 30, 2022 Assets: Bonds available for sale $ — $ 5,359 $ 5,359 Other bond securities — 1,442 1,442 Equity securities 55 — 55 Mortgage and other loans receivable — 2,320 2,320 Other invested assets Alternative investments (a) 2,901 — 2,901 Investment real estate 2,145 — 2,145 Short-term investments 245 142 387 Cash 86 — 86 Accrued investment income — 17 17 Other assets 165 97 262 Total (b) $ 5,597 $ 9,377 $ 14,974 Liabilities: Debt of consolidated investment entities $ 1,633 $ 4,431 $ 6,064 Other (c) 107 42 149 Total $ 1,740 $ 4,473 $ 6,213 December 31, 2021 Assets: Bonds available for sale $ — $ 5,543 $ 5,543 Other bond securities — 1,852 1,852 Equity securities 223 — 223 Mortgage and other loans receivable — 2,523 2,523 Other invested assets Alternative investments (a) 3,017 — 3,017 Investment real estate 2,257 — 2,257 Short-term investments 487 151 638 Cash 96 — 96 Accrued investment income — 17 17 Other assets 190 558 748 Total (b) $ 6,270 $ 10,644 $ 16,914 Liabilities: Debt of consolidated investment entities $ 1,743 $ 4,504 $ 6,247 Other (c) 122 722 844 Total $ 1,865 $ 5,226 $ 7,091 (a) Comprised primarily of investments in real estate joint ventures at June 30, 2022 and December 31, 2021. (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities at June 30, 2022 and December 31, 2021. (d) At June 30, 2022 and December 31, 2021, off-balance sheet exposure primarily consisting of our insurance companies’ commitments to real estate and investment entities were $2.4 billion and $2.2 billion, respectively, of which commitments to external parties were $0.6 billion and $0.6 billion, respectively. We calculate our maximum exposure to loss to be (i) the amount invested in the debt or equity of the VIE, (ii) the notional amount of VIE assets or liabilities where we have also provided credit protection to the VIE with the VIE as the referenced obligation, and (iii) other commitments and guarantees to the VIE. The following table presents total assets of unconsolidated VIEs in which we hold a variable interest, as well as our maximum exposure to loss associated with these VIEs: Maximum Exposure to Loss (in millions) Total VIE On-Balance (b) Off-Balance Total June 30, 2022 Real estate and investment entities (a) $ 500,408 $ 8,134 $ 3,668 (c) $ 11,802 Other 1,730 272 644 (d) 916 Total $ 502,138 $ 8,406 $ 4,312 $ 12,718 December 31, 2021 Real estate and investment entities (a) $ 457,335 $ 7,650 $ 3,448 (c) $ 11,098 Other 1,738 237 528 (d) 765 Total $ 459,073 $ 7,887 $ 3,976 $ 11,863 (a) Comprised primarily of hedge funds and private equity funds. (b) At June 30, 2022 and December 31, 2021, $8.3 billion and $7.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. (c) These amounts represent our unfunded commitments to invest in private equity funds and hedge funds. (d) These amounts represent our estimate of the maximum exposure to loss under certain insurance policies issued to VIEs if a hypothetical loss occurred to the extent of the full amount of the insured value. Our insurance policies cover defined risks and our estimate of liability is included in our insurance reserves on the balance sheet. For additional information on VIEs see Note 9 to the Consolidated Financial Statements in the 2021 Annual Report .

Derivatives and Hedge Accountin

Derivatives and Hedge Accounting	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedge Accounting	9. Derivatives and Hedge Accounting We use derivatives and other financial instruments as part of our financial risk management programs and as part of our investment operations. Interest rate derivatives (such as interest rate swaps) are used to manage interest rate risk associated with embedded derivatives contained in insurance contract liabilities, fixed maturity securities, outstanding medium- and long-term notes as well as other interest rate sensitive assets and liabilities. Foreign exchange derivatives (principally foreign exchange forwards and swaps) are used to economically mitigate risk associated with non-U.S. dollar denominated debt, net capital exposures, foreign currency transactions, and foreign denominated investments. Equity derivatives are used to mitigate financial risk embedded in certain insurance liabilities and economically hedge certain investments. We use credit derivatives to manage our credit exposures. Commodity derivatives are used to hedge exposures within reinsurance contracts. The derivatives are effective economic hedges of the exposures that they are meant to offset. In addition to hedging activities, we also enter into derivative contracts with respect to investment operations, which may include, among other things, credit default swaps (CDSs), total return swaps and purchases of investments with embedded derivatives, such as equity-linked notes and convertible bonds. The following table presents the notional amounts of our derivatives and the fair value of derivative assets and liabilities in the Condensed Consolidated Balance Sheets: June 30, 2022 December 31, 2021 Gross Derivative Assets Gross Derivative Liabilities Gross Derivative Assets Gross Derivative Liabilities (in millions) Notional Amount Fair Notional Amount Fair Notional Amount Fair Notional Amount Fair Derivatives designated as hedging instruments: (a) Interest rate contracts $ 85 $ 2 $ 925 $ 35 $ 265 $ 5 $ 895 $ 11 Foreign exchange contracts 8,027 870 1,956 217 5,431 467 5,828 197 Derivatives not designated as hedging instruments: (a) Interest rate contracts 49,436 4,609 56,712 6,272 47,499 3,868 42,113 3,622 Foreign exchange contracts 13,408 1,243 3,639 431 7,905 722 9,997 524 Equity contracts 29,116 387 4,710 53 27,423 681 5,091 53 Commodity contracts 271 9 104 — 303 4 219 — Credit contracts (b) 1,789 1 933 44 3,790 1 936 47 Other contracts (c) 45,428 16 — — 43,892 13 51 — Total derivatives, gross $ 147,560 $ 7,137 $ 68,979 $ 7,052 $ 136,508 $ 5,761 $ 65,130 $ 4,454 Counterparty netting (d) (4,354) (4,354) (2,779) (2,779) Cash collateral (e) (2,426) (2,418) (2,139) (1,089) Total derivatives on Condensed Consolidated Balance Sheets (f) $ 357 $ 280 $ 843 $ 586 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) As of June 30, 2022 and December 31, 2021, included CDSs on super senior multi-sector CDOs with a net notional amount of $93 million and $97 million (fair value liability of $32 million and $30 million), respectively. The net notional amount represents the maximum exposure to loss on the portfolio. (c) Consists primarily of stable value wraps and contracts with multiple underlying exposures. (d) Represents netting of derivative exposures covered by a qualifying master netting agreement. (e) Represents cash collateral posted and received that is eligible for netting. (f) Freestanding derivatives only, excludes embedded derivatives. Derivative instrument assets and liabilities are recorded in Other assets and Other liabilities, respectively. Fair value of assets related to bifurcated embedded derivatives was $0.6 billion and zero at June 30, 2022 and December 31, 2021, respectively. Fair value of liabilities related to bifurcated embedded derivatives was $7.0 billion and $14.5 billion, respectively, at June 30, 2022 and December 31, 2021. A bifurcated embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components, and the funds withheld arrangement with Fortitude Re. For additional information see Note 7. COLLATERAL We engage in derivative transactions that are not subject to a clearing requirement directly with unaffiliated third parties, in most cases, under International Swaps and Derivatives Association, Inc. (ISDA) Master Agreements. Many of the ISDA Master Agreements also include Credit Support Annex provisions, which provide for collateral postings that may vary at various ratings and threshold levels. We attempt to reduce our risk with certain counterparties by entering into agreements that enable collateral to be obtained from a counterparty on an upfront or contingent basis. We minimize the risk that counterparties might be unable to fulfill their contractual obligations by monitoring counterparty credit exposure and collateral value and generally requiring additional collateral to be posted upon the occurrence of certain events or circumstances. In addition, certain derivative transactions have provisions that require collateral to be posted by us upon a downgrade of our long-term debt ratings or give the counterparty the right to terminate the transaction. In the case of some of the derivative transactions, upon a downgrade of our long-term debt ratings, as an alternative to posting collateral and subject to certain conditions, we may assign the transaction to an obligor with higher debt ratings or arrange for a substitute guarantee of our obligations by an obligor with higher debt ratings or take other similar action. The actual amount of collateral required to be posted to counterparties in the event of such downgrades, or the aggregate amount of payments that we could be required to make, depends on market conditions, the fair value of outstanding affected transactions and other factors prevailing at and after the time of the downgrade. Collateral posted by us to third parties for derivative transactions was $3.8 billion at June 30, 2022 and $2.7 billion at December 31, 2021. In the case of collateral posted under derivative transactions that are not subject to clearing, this collateral can generally be repledged or resold by the counterparties. Collateral provided to us from third parties for derivative transactions was $2.5 billion and $2.4 billion at June 30, 2022 and December 31, 2021, respectively. In the case of collateral provided to us under derivative transactions that are not subject to clearing, we generally can repledge or resell collateral. OFFSETTING We have elected to present all derivative receivables and derivative payables, and the related cash collateral received and paid, on a net basis on our Condensed Consolidated Balance Sheets when a legally enforceable ISDA Master Agreement exists between us and our derivative counterparty. An ISDA Master Agreement is an agreement governing multiple derivative transactions between two counterparties. The ISDA Master Agreement generally provides for the net settlement of all, or a specified group, of these derivative transactions, as well as transferred collateral, through a single payment, and in a single currency, as applicable. The net settlement provisions apply in the event of a default on, or affecting any, one derivative transaction or a termination event affecting all, or a specified group of, derivative transactions governed by the ISDA Master Agreement. HEDGE ACCOUNTING We designated certain derivatives entered into with third parties as fair value hedges of available for sale investment securities held by our insurance subsidiaries. The fair value hedges include foreign currency forwards and cross currency swaps designated as hedges of the change in fair value of foreign currency denominated available for sale securities attributable to changes in foreign exchange rates. We also designated certain interest rate swaps entered into with third parties as fair value hedges of fixed rate GICs attributable to changes in benchmark interest rates. We use foreign currency denominated debt and cross-currency swaps as hedging instruments in net investment hedge relationships to mitigate the foreign exchange risk associated with our non-U.S. dollar functional currency foreign subsidiaries. For net investment hedge relationships where issued debt is used as a hedging instrument, we assess the hedge effectiveness and measure the amount of ineffectiveness based on changes in spot rates. For net investment hedge relationships that use derivatives as hedging instruments, we assess hedge effectiveness and measure hedge ineffectiveness using changes in forward rates. For the three- and six-month periods ended June 30, 2022, we recognized gains (losses) of $220 million and $307 million, respectively, and for the three- and six-month periods ende d June 30, 2021, we recognized gains (losses) of $5 million and $106 million, respectively, included in Change in foreign currency translation adjustments in Other comprehensive income (loss) related to the net investment hedge relationships. A qualitative methodology is utilized to assess hedge effectiveness for net investment hedges, while regression analysis is employed for all other hedges. The following table presents the gain (loss) recognized in income on our derivative instruments in fair value hedging relationships in the Condensed Consolidated Statements of Income (Loss): Gains/(Losses) Recognized in Income for: (in millions) Hedging Derivatives (a) Excluded Components (b) Hedged Net Impact Three Months Ended June 30, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (7) $ — $ 8 $ 1 Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) 325 98 (325) 98 Three Months Ended June 30, 2021 Interest rate contracts: Interest credited to policyholder account balances $ (3) $ — $ 1 $ (2) Net investment income (loss) (1) — — (1) Foreign exchange contracts: Net realized gains/(losses) (36) 107 36 107 Six Months Ended June 30, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (28) $ — $ 31 $ 3 Net investment income (loss) 1 — (1) — Foreign exchange contracts: Net realized gains/(losses) 434 140 (434) 140 Six Months Ended June 30, 2021 Interest rate contracts: Interest credited to policyholder account balances $ (7) $ — $ 7 $ — Net investment income (loss) 7 — (7) — Foreign exchange contracts: Net realized gains/(losses) (4) 78 4 78 (a) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are included in the assessment of hedge effectiveness. (b) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are excluded from the assessment of hedge effectiveness and recognized in income on a mark-to-market basis. DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS The following table presents the effect of derivative instruments not designated as hedging instruments in the Condensed Consolidated Statements of Income (Loss): Gains (Losses) Recognized in Income Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 By Derivative Type: Interest rate contracts $ (869) $ 856 $ (1,482) $ (689) Foreign exchange contracts 730 48 966 (39) Equity contracts 78 (32) (126) (551) Commodity contracts (3) 1 (7) 1 Credit contracts — (4) (1) (9) Other contracts 13 17 31 32 Embedded derivatives 4,306 (3,242) 9,591 1,597 Total $ 4,255 $ (2,356) $ 8,972 $ 342 By Classification: Policy fees $ 15 $ 15 $ 30 $ 30 Net investment income 3 7 2 (5) Net realized gains (losses) - excluding Fortitude Re funds withheld assets 1,420 (388) 2,868 52 Net realized gains (losses) on Fortitude Re funds withheld assets (a) 2,824 (1,996) 6,086 269 Policyholder benefits and claims incurred (7) 6 (14) (4) Total $ 4,255 $ (2,356) $ 8,972 $ 342 (a) Includes over-the-counter derivatives supporting the funds withheld arrangements with Fortitude Re and the embedded derivative contained within the funds withheld payable with Fortitude Re. CREDIT RISK-RELATED CONTINGENT FEATURES We estimate that at June 30, 2022, based on our outstanding financial derivative transactions, a downgrade of our long-term senior debt ratings to BBB or BBB– by Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and/or a downgrade to Baa2 or Baa3 by Moody’s Investors’ Service, Inc. would permit counterparties to make additional collateral calls and permit certain counterparties to elect early termination of contracts, resulting in corresponding collateral postings and termination payments in the total amount of up to approximately $19 million. The aggregate fair value of our derivatives that were in a net liability position and that contain such credit risk-related contingencies which can be triggered below our long-term senior debt ratings of BBB+ or Baa1 was approximately $104 million and $206 million at June 30, 2022 and December 31, 2021, respectively. The aggregate fair value of assets posted as collateral under these contracts at June 30, 2022 and December 31, 2021, was approximately $120 million and $239 million, respectively. HYBRID SECURITIES WITH EMBEDDED CREDIT DERIVATIVES We invest in hybrid securities (such as credit-linked notes) with the intent of generating income and not specifically to acquire exposure to embedded derivative risk. As is the case with our other investments in RMBS, CMBS, CDOs and ABS, our investments in these hybrid securities are exposed to losses only up to the amount of our initial investment in the hybrid security. Other than our initial investment in the hybrid securities, we have no further obligation to make payments on the embedded credit derivatives in the related hybrid securities. We elect to account for our investments in these hybrid securities with embedded written credit derivatives at fair value, with changes in fair value recognized in Net investment income. Our investments in these hybrid securities are reported as Other bond securities in the Condensed Consolidated Balance Sheets. The fair values of these hybrid securities were $1.5 billion and $2.0 billion at June 30, 2022 and December 31, 2021, respectively. These securities have par amounts of $4.4 billion and $4.6 billion at June 30, 2022 and December 31, 2021, respectively, and have remaining stated maturity dates that extend to 2052.

Insurance Liabilities

Insurance Liabilities	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Insurance Liabilities	10. Insurance Liabilities LIABILITY FOR UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES (LOSS RESERVES) Loss reserves represent the accumulation of estimates of unpaid claims, including estimates for claims incurred but not reported and loss adjustment expenses, less applicable discount. We regularly review and update the methods used to determine loss reserve estimates. Because these estimates are subject to the outcome of future events, changes in estimates are common given that loss trends vary and time is often required for changes in trends to be recognized and confirmed. Any adjustments resulting from this review are reflected currently in pre-tax income, except to the extent such adjustment impacts a deferred gain under a retroactive reinsurance agreement, in which case the ceded portion would be amortized into pre-tax income in subsequent periods. Reserve changes that increase previous estimates of ultimate cost are referred to as unfavorable or adverse development or reserve strengthening. Reserve changes that decrease previous estimates of ultimate cost are referred to as favorable development or reserve releases. Our gross loss reserves before reinsurance and discount are net of contractual deductible recoverable amounts due from policyholders of approximately $12.1 billion and $12.3 billion at June 30, 2022 and December 31, 2021, respectively. These recoverable amounts are related to certain policies with high deductibles (in excess of high dollar amounts retained by the insured through self-insured retentions, deductibles, retrospective programs, or captive arrangements, each referred to generically as “deductibles”), primarily for U.S. Commercial casualty business. With respect to the deductible portion of the claim, we manage and pay the entire claim on behalf of the insured and are reimbursed by the insured for the deductible portion of the claim. Thus, these recoverable amounts represent a credit exposure to us. At June 30, 2022 and December 31, 2021, we held collateral of approximately $8.5 billion and $8.6 billion, respectively, for these deductible recoverable amounts, consisting primarily of letters of credit and funded trust agreements. Allowance for credit losses for the unsecured portion of these recoverable amounts was $14 million at both June 30, 2022 and December 31, 2021. The following table presents the rollforward of activity in loss reserves: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 78,183 $ 78,832 $ 79,026 $ 77,720 Reinsurance recoverable (34,321) (35,271) (35,213) (34,431) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 43,862 43,561 43,813 43,289 Losses and loss adjustment expenses incurred: Current year 3,765 3,870 7,647 7,795 Prior years, excluding discount and amortization of deferred gain (374) (29) (425) (13) Prior years, discount charge (benefit) 38 34 42 16 Prior years, amortization of deferred gain on retroactive reinsurance (a) 28 (22) (14) (94) Total losses and loss adjustment expenses incurred 3,457 3,853 7,250 7,704 Losses and loss adjustment expenses paid: Current year (834) (895) (1,157) (1,223) Prior years (2,729) (2,620) (6,171) (6,204) Total losses and loss adjustment expenses paid (3,563) (3,515) (7,328) (7,427) Other changes: Foreign exchange effect (800) 113 (796) 357 Retroactive reinsurance adjustment (net of discount) (b) 200 103 217 192 Total other changes (600) 216 (579) 549 Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 43,156 44,115 43,156 44,115 Reinsurance recoverable 33,583 34,866 33,583 34,866 Total $ 76,739 $ 78,981 $ 76,739 $ 78,981 (a) Includes $6 million and $1 million for the retroactive reinsurance agreement with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc. (Berkshire), covering U.S. asbestos exposures for the three-month periods ended June 30, 2022 and 2021, respectively, and $10 million and $18 million for the six-month periods ended June 30, 2022 and 2021. (b) Includes benefit (charge) from change in discount on retroactive reinsurance in the amount of $18 million and $17 million for the three-month periods ended June 30, 2022 and 2021 respectively, and $57 million and $56 million for the six-month periods ended June 30, 2022 and 2021 respectively. On January 20, 2017, we entered into an adverse development reinsurance agreement with NICO, under which we transferred to NICO 80 percent of the reserve risk on substantially all of our U.S. commercial long-tail exposures for accident years 2015 and prior. Under this agreement, we ceded to NICO 80 percent of the paid losses on subject business paid on or after January 1, 2016 in excess of $25 billion of net paid losses, up to an aggregate limit of $25 billion. At NICO’s 80 percent share, NICO’s limit of liability under the contract is $20 billion. We account for this transaction as retroactive reinsurance. We paid total consideration, including interest, of $10.2 billion. The consideration was placed into a collateral trust account as security for NICO’s claim payment obligations, and Berkshire has provided a parental guarantee to secure the obligations of NICO under the agreement. Prior Year Development During the three-month period ended June 30, 2022, we recognized favorable prior year loss reserve development of $374 million excluding discount and amortization of deferred gain. During the six-month period ended June 30, 2022, we recognized favorable prior year loss reserve development of $425 million excluding discount and amortization of deferred gain. The development in these periods was largely driven by favorable development on U.S. Workers Compensation, U.S. Other Casualty and Japan Personal Insurance, partially offset by unfavorable development on U.S Property and Special Risks. During the three-month period ended June 30, 2021, we recognized favorable prior year loss reserve development of $29 million excluding discount and amortization of deferred gain. During the six-month period ended June 30, 2021, we recognized favorable prior year loss reserve development of $13 million excluding discount and amortization of deferred gain. The development in these periods was primarily driven by favorable development on U.S. Workers Compensation high deductible business, partially offset by adverse development on runoff companies, especially Blackboard and U.S. Financial Lines. U.S. Workers Compensation favorable development was driven by better than expected loss emergence for many older accident years over the last twelve months and an updated reserve analysis that reduced the ultimate loss estimates for many accident years. Blackboard adverse emergence was driven by significant increases in case incurred claim severity, principally in accident years 2018 to 2020. Discounting of Loss Reserves At June 30, 2022 and December 31, 2021, the loss reserves reflect a net loss reserve discount of $939 million and $876 million, respectively, including tabular and non-tabular calculations based upon the following assumptions: • The non-tabular workers’ compensation discount is calculated separately for companies domiciled in New York, Pennsylvania and Delaware, and follows the statutory regulations (prescribed or permitted) for each state. – For New York companies, the discount is based on a 5 percent interest rate and the companies’ own payout patterns. – The Pennsylvania and Delaware regulators approved use of a consistent benchmark discount rate and spread (U.S. Treasury rate plus a liquidity premium) to all of our workers’ compensation reserves in our Pennsylvania domiciled and Delaware domiciled companies, as well as our use of updated payout patterns specific to our primary and excess workers compensation portfolios. In 2020, the regulators also approved that the discount rate will be updated on an annual basis. • The tabular workers’ compensation discount is calculated based on the mortality rate used in the 2007 U.S. Life table and interest rates prescribed or permitted by each state (i.e. New York is based on 5 percent interest rate and Pennsylvania and Delaware are based on U.S. Treasury rate plus a liquidity premium). In the case that applying this tabular discount factor to our nominal reserves produces a tabular discount that is greater than the indemnity portion of our case reserves, the tabular discount is capped at our estimate of the indemnity portion of our cases reserves (45 percent). The discount for asbestos reserves has been fully accreted. At June 30, 2022 and December 31, 2021, the discount consists of $272 million and $260 million of tabular discount, respectively, and $667 million and $616 million of non-tabular discount for workers’ compensation, respectively. During the six-month periods ended June 30, 2022 and 2021, the benefit / (charge) from changes in discount of $6 million and $10 million, respectively, were recorded as part of the policyholder benefits and losses incurred in the Condensed Consolidated Statements of Income (Loss). The following table presents the components of the loss reserve discount discussed above: (in millions) June 30, 2022 December 31, 2021 U.S. workers' compensation $ 1,835 $ 1,829 Retroactive reinsurance (896) (953) Total reserve discount (a)(b) $ 939 $ 876 (a) Excludes $111 million and $116 million of discount related to certain long-tail liabilities in the UK at June 30, 2022 and December 31, 2021, respectively. (b) Includes gross discount of $487 million and $500 million, which was 100 percent ceded to Fortitude Re at June 30, 2022 and December 31, 2021, respectively. The following table presents the net loss reserve discount benefit (charge): Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Current accident year $ 24 $ 12 $ 48 $ 26 Accretion and other adjustments to prior year discount (38) (34) (42) (16) Net reserve discount benefit (charge) (14) (22) 6 10 Change in discount on loss reserves ceded under retroactive reinsurance 18 17 57 56 Net change in total reserve discount* $ 4 $ (5) $ 63 $ 66 * Excludes $(7) million and $2 million discount related to certain long-tail liabilities in the UK for the three-month periods ended June 30, 2022 and 2021, respectively, and excludes $(5) million and $9 million discount related to certain long-tail liabilities in the UK for the six-month periods ended June 30, 2022 and 2021, respectively. Amortization of Deferred Gain on Retroactive Reinsurance Amortization of the deferred gain on retroactive reinsurance includes $(34) million and $21 million related to the adverse development reinsurance cover with NICO for the three-month periods ended June 30, 2022 and 2021, respectively, and $4 million and $76 million related to the adverse development reinsurance cover with NICO for the six-month periods ended June 30, 2022 and 2021, respectively. Amounts recognized reflect the amortization of the initial deferred gain at inception, as amended for subsequent changes in the deferred gain due to changes in subject reserves.

Contingencies, Commitments and

Contingencies, Commitments and Guarantees	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies, Commitments and Guarantees	11. Contingencies, Commitments and Guarantees In the normal course of business, various contingent liabilities and commitments are entered into by AIG and our subsidiaries. In addition, AIG Parent guarantees various obligations of certain subsidiaries. Although AIG cannot currently quantify its ultimate liability for unresolved litigation and investigation matters, including those referred to below, it is possible that such liability could have a material adverse effect on AIG’s consolidated financial condition or its consolidated results of operations or consolidated cash flows for an individual reporting period. LEGAL CONTINGENCIES Overview In the normal course of business, AIG and our subsidiaries are subject to regulatory and government investigations and actions, and litigation and other forms of dispute resolution in a large number of proceedings pending in various domestic and foreign jurisdictions. Certain of these matters involve potentially significant risk of loss due to potential for significant jury awards and settlements, punitive damages or other penalties. Many of these matters are also highly complex and may seek recovery on behalf of a class or similarly large number of plaintiffs. It is therefore inherently difficult to predict the size or scope of potential future losses arising from these matters. In our insurance and reinsurance operations, litigation and arbitration concerning the scope of coverage under insurance and reinsurance contracts, and litigation and arbitration in which our subsidiaries defend or indemnify their insureds under insurance contracts, are generally considered in the establishment of our loss reserves. Separate and apart from the foregoing matters involving insurance and reinsurance coverage, AIG, our subsidiaries and their respective officers and directors are subject to a variety of additional types of legal proceedings brought by holders of AIG securities, customers, employees and others, alleging, among other things, breach of contractual or fiduciary duties, bad faith, indemnification and violations of federal and state statutes and regulations. With respect to these other categories of matters not arising out of claims for insurance or reinsurance coverage, we establish reserves for loss contingencies when it is probable that a loss will be incurred and the amount of the loss can be reasonably estimated. In many instances, we are unable to determine whether a loss is probable or to reasonably estimate the amount of such a loss and, therefore, the potential future losses arising from legal proceedings may exceed the amount of liabilities that we have recorded in our financial statements covering these matters. While such potential future charges could be material, based on information currently known to management, management does not believe, other than as may be discussed below, that any such charges are likely to have a material adverse effect on our financial position or results of operation. Additionally, from time to time, various regulatory and governmental agencies review the transactions and practices of AIG and our subsidiaries in connection with industry- wide and other inquiries or examinations into, among other matters, the business practices of current and former operating insurance subsidiaries. Such investigations, inquiries or examinations could develop into administrative, civil or criminal proceedings or enforcement actions, in which remedies could include fines, penalties, restitution or alterations in our business practices, and could result in additional expenses, limitations on certain business activities and reputational damage. Moriarty Litigation Effective January 1, 2013, the California legislature enacted AB 1747 (the Act), which amended the Insurance Code to mandate that life insurance policies issued and delivered in California contain a 60-day grace period during which time the policies must remain in force after a premium payment is missed, and that life insurers provide both a 30-day minimum notification of lapse and the right of policy owners to designate a secondary recipient for lapse and termination notices. Following guidance from the California Department of Insurance and certain industry trade groups, American General Life Insurance Company (AGL) interpreted the Act to be prospective in nature, applying only to policies issued and delivered on or after the Act’s January 1, 2013, effective date. On July 18, 2017, AGL was sued in a putative class action captioned Moriarty v. American General Life Insurance Company, No. 17-cv-1709 (S.D. Cal.), challenging AGL’s prospective application of the Act. Plaintiff’s complaint, which is similar to complaints filed against other insurers, argues that policies issued and delivered prior to January 1, 2013, like the $1 million policy issued to Plaintiff’s husband do not lapse—despite nonpayment of premiums—if the insurer has not complied with the Act’s terms. On August 30, 2021, the California Supreme Court issued an opinion in McHugh v. Protective Life Insurance, 12 Cal. 5th 213 (2021), ruling that the Act applies to all policies in force on January 1, 2013, regardless of when the policies were issued. The District Court in Moriarty reached effectively the same result on October 2, 2020, when it held that the Act applied to Plaintiff’s husband’s 25-year term life insurance policy under the theory that the payment of premiums “renewed” Plaintiff’s policy after the effective date of the Act. However, the District Court in Moriarty also ruled on October 2, 2020 that various fact issues precluded a final determination as to AGL’s liability and what (if any) corresponding damages may have resulted. In addition, the District Court denied Plaintiff’s motion for class certification without prejudice on November 25, 2020. On February 7, 2022, Plaintiff filed motions for summary judgment and class certification; AGL opposed both motions. In addition, on February 7, 2022, AGL filed a motion for partial summary judgment, which Plaintiff opposed. The District Court heard arguments on these motions on April 11, 2022. On July 26, 2022, the District Court granted in part and denied in part AGL’s motion for partial summary judgment. The Court did not make a final determination as to AGL’s liability and what (if any) corresponding damages may have resulted. Plaintiff’s motions for summary judgment and class certification remain pending before the District Court. Proceedings are ongoing in other California cases that raise similar industry-wide issues. We have accrued our current estimate of probable loss with respect to this litigation. OTHER COMMITMENTS In the normal course of business, we enter into commitments to invest in limited partnerships, private equity funds and hedge funds and to purchase and develop real estate in the U.S. and abroad. These commitments totaled $7.3 billion at both June 30, 2022 and December 31, 2021. GUARANTEES Subsidiaries We have issued unconditional guarantees with respect to the prompt payment, when due, of all present and future payment obligations and liabilities of AIG Financial Products Corp. and related subsidiaries (collectively AIGFP) and of AIG Markets, Inc. arising from transactions entered into by AIG Markets, Inc. In connection with AIGFP’s business activities, AIGFP has issued, in a limited number of transactions, standby letters of credit or similar facilities to equity investors of structured leasing transactions in an amount equal to the termination value owing to the equity investor by the lessee in the event of a lessee default (the equity termination value). The total amount outstanding at June 30, 2022 was $70 million. In those transactions, AIGFP has agreed to pay such amount if the lessee fails to pay. The amount payable by AIGFP is, in certain cases, partially offset by amounts payable under other instruments typically equal to the present value of scheduled payments to be made by AIGFP. In the event that AIGFP is required to make a payment to the equity investor, the lessee is unconditionally obligated to reimburse AIGFP. To the extent that the equity investor is paid the equity termination value from the standby letter of credit and/or other sources, including payments by the lessee, AIGFP takes an assignment of the equity investor’s rights under the lease of the underlying property. Because the obligations of the lessee under the lease transactions are generally economically defeased, lessee bankruptcy is the most likely circumstance in which AIGFP would be required to pay without reimbursement. AIG Parent files a consolidated federal income tax return with certain subsidiaries and acts as an agent for the consolidated tax group when making payments to the Internal Revenue Service (IRS). AIG Parent and its subsidiaries have adopted, pursuant to a written agreement, a method of allocating consolidated federal income taxes. Under an Amended and Restated Tax Payment Allocation Agreement dated June 6, 2011 between AIG Parent and one of its Bermuda-domiciled insurance subsidiaries, AIG Life of Bermuda, Ltd. (AIGB), AIG Parent has agreed to indemnify AIGB for any tax liability (including interest and penalties) resulting from adjustments made by the IRS or other appropriate authorities to taxable income, special deductions or credits in connection with investments made by AIGB in certain affiliated entities. Business and Asset Dispositions We are subject to financial guarantees and indemnity arrangements in connection with the completed sales of businesses and assets. The various arrangements may be triggered by, among other things, declines in asset values, the occurrence of specified business contingencies, the realization of contingent liabilities, developments in litigation or breaches of representations, warranties or covenants provided by us. These arrangements are typically subject to various time limitations, defined by the contract or by operation of law, such as statutes of limitation. In some cases, the maximum potential obligation is subject to contractual limitations, while in other cases such limitations are not specified or are not applicable. We are unable to develop a reasonable estimate of the maximum potential payout under certain of these arrangements. Overall, we believe the likelihood that we will have to make any material payments related to completed sales under these arrangements is remote, and no material liabilities related to these arrangements have been recorded in the Condensed Consolidated Balance Sheets. Other • For additional information on commitments and guarantees associated with VIEs, see Note 8. • For additional information on derivatives, see Note 9.

Equity

Equity	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Equity	12. Equity SHARES OUTSTANDING Preferred Stock On March 14, 2019, we issued 20,000 shares of Series A 5.85% Non-Cumulative Perpetual Preferred Stock (Series A Preferred Stock) (equivalent to 20,000,000 Depositary Shares, each representing a 1/1,000th interest in a share of Series A Preferred Stock), $5.00 par value and $25,000 liquidation preference per share (equivalent to $25 per Depositary Share). After underwriting discounts and expenses, we received net proceeds of approximately $485 million. The following table presents declaration date, record date, payment date and dividends paid per preferred share and per depository share on the Series A Preferred Stock in the six months ended June 30, 2022 and 2021: Dividends Paid Declaration Date Record Date Payment Date Per Preferred Share Per Depositary Share May 3, 2022 May 31, 2022 June 15, 2022 $ 365.625 $ 0.365625 February 16, 2022 February 28, 2022 March 15, 2022 365.625 0.365625 May 6, 2021 May 31, 2021 June 15, 2021 $ 365.625 $ 0.365625 February 16, 2021 February 26, 2021 March 15, 2021 365.625 0.365625 Common Stock The following table presents a rollforward of outstanding shares: Six Months Ended June 30, 2022 Common Treasury Common Stock Outstanding Shares, beginning of year 1,906,671,492 (1,087,984,129) 818,687,363 Shares issued — 5,126,759 5,126,759 Shares repurchased — (52,542,606) (52,542,606) Shares, end of period 1,906,671,492 (1,135,399,976) 771,271,516 Dividends Dividends are payable on AIG Common Stock only when, as and if declared by our Board of Directors in its discretion, from funds legally available for this purpose. In considering whether to pay a dividend on or purchase shares of AIG Common Stock, our Board of Directors considers a number of factors, including, but not limited to: the capital resources available to support our insurance operations and business strategies, AIG’s funding capacity and capital resources in comparison to internal benchmarks, expectations for capital generation, rating agency expectations for capital, regulatory standards for capital and capital distributions, and such other factors as our Board of Directors may deem relevant. The payment of dividends is also subject to the terms of AIG’s outstanding Series A Preferred Stock, pursuant to which no dividends may be declared or paid on any AIG Common Stock unless the full dividends for the latest completed dividend period on all outstanding shares of Series A Preferred Stock have been declared and paid or provided for. The following table presents declaration date, record date, payment date and dividends paid per common share on AIG Common Stock in the six months ended June 30, 2022 and 2021 : Declaration Date Record Date Payment Date Dividends Paid May 3, 2022 June 16, 2022 June 30, 2022 $ 0.32 February 16, 2022 March 17, 2022 March 31, 2022 0.32 May 6, 2021 June 15, 2021 June 29, 2021 $ 0.32 February 16, 2021 March 16, 2021 March 30, 2021 0.32 For a discussion of restrictions on payments of dividends to AIG Parent by its subsidiaries see Note 18 to the Consolidated Financial Statements in the 2021 Annual Report. Repurchase of AIG Common Stock Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise. Certain of our share repurchases have been and may from time to time be effected through Securities Exchange Act of 1934 (Exchange Act) Rule 10b5-1 repurchase plans. On May 3, 2022, the Board of Directors authorized the repurchase of $6.5 billion of AIG Common Stock (inclusive of the approximately $1.5 billion of expected remaining authorization upon expiration of the then-current 10b5-1 Plan as of May 20, 2022). The timing of any future repurchases will depend on market conditions, our business and strategic plans, financial condition, results of operations, liquidity and other factors. The repurchase of AIG Common Stock is also subject to the terms of AIG’s outstanding Series A Preferred Stock, pursuant to which AIG may not (other than in limited circumstances) purchase, redeem or otherwise acquire AIG Common Stock unless the full dividends for the latest completed dividend period on all outstanding shares of Series A Preferred Stock have been declared and paid or provided for. The following table presents repurchases of AIG Common Stock: Six Months Ended June 30, (in millions) 2022 2021 Aggregate repurchases of common stock * $ 3,102 $ 592 Total number of common shares repurchased 53 13 * For the six months ended June 30, 2021, approximately $92 million of these share repurchases were funded with proceeds received from warrant exercises that occurred prior to the expiration of warrants to purchase shares of AIG Common Stock on January 19, 2021. Pursuant to an Exchange Act Rule 10b5-1 repurchase plan from July 1, 2022 to August 3, 2022, we repurchased approximately 11 million shares of AIG Common Stock for an aggregate purchase price of approximately $556 million. DIVIDENDS DECLARED On August 8, 2022, our Board of Directors declared a cash dividend on AIG Common Stock of $0.32 per share, payable on September 30, 2022 to shareholders of record on September 16, 2022. On August 8, 2022, our Board of Directors declared a cash dividend on AIG’s Series A Preferred Stock of $365.625 per share, payable on September 15, 2022 to holders of record on August 31, 2022. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents a rollforward of Accumulated other comprehensive income (loss): (in millions) Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Plan Liabilities Adjustment Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Total Balance, March 31, 2022, net of tax $ (97) $ (2,437) $ (2,478) $ (894) $ 6 $ (5,900) Change in unrealized appreciation (depreciation) of investments 45 (17,949) — — — (17,904) Change in deferred policy acquisition costs adjustment and other 4 2,517 — — — 2,521 Change in future policy benefits — 942 — — — 942 Change in foreign currency translation adjustments — — (204) — — (204) Change in net actuarial loss — — — 5 — 5 Change in prior service cost — — — 4 — 4 Change in deferred tax asset (liability) (9) 1,952 (77) 7 — 1,873 Change in fair value of liabilities under fair value option attributable to changes in own credit risk — — — — (4) (4) Total other comprehensive income (loss) 40 (12,538) (281) 16 (4) (12,767) Noncontrolling interests 4 (1,003) (12) — — (1,011) Balance, June 30, 2022, net of tax $ (61) $ (13,972) $ (2,747) $ (878) $ 2 $ (17,656) Balance, March 31, 2021, net of tax $ (62) $ 9,894 $ (2,142) $ (1,231) $ 7 $ 6,466 Change in unrealized appreciation (depreciation) of investments 10 5,836 — — — 5,846 Change in deferred policy acquisition costs adjustment and other (2) (691) — — — (693) Change in future policy benefits — (378) — — — (378) Change in foreign currency translation adjustments — — 25 — — 25 Change in net actuarial loss — — — 12 — 12 Change in prior service cost — — — 2 — 2 Change in deferred tax asset (liability) (4) (1,057) (11) — — (1,072) Change in fair value of liabilities under fair value option attributable to changes in own credit risk — — — — — — Total other comprehensive income 4 3,710 14 14 — 3,742 Noncontrolling interests — (1) — — — (1) Balance, June 30, 2021, net of tax $ (58) $ 13,605 $ (2,128) $ (1,217) $ 7 $ 10,209 The following table presents the other comprehensive income (loss) reclassification adjustments for the three- and six-month periods ended June 30, 2022 and 2021 , respectively: (in millions) Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Plan Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Total Three Months Ended June 30, 2022 Unrealized change arising during period $ 41 $ (15,086) $ (204) $ 2 $ (4) $ (15,251) Less: Reclassification adjustments included in net income (8) (596) — (7) — (611) Total other comprehensive income (loss), before income tax expense (benefit) 49 (14,490) (204) 9 (4) (14,640) Less: Income tax expense (benefit) 9 (1,952) 77 (7) — (1,873) Total other comprehensive income (loss), net of income tax expense (benefit) $ 40 $ (12,538) $ (281) $ 16 $ (4) $ (12,767) Three Months Ended June 30, 2021 Unrealized change arising during period $ 4 $ 4,906 $ 25 $ 3 $ — $ 4,938 Less: Reclassification adjustments included in net income (4) 139 — (11) — 124 Total other comprehensive income (loss), before income tax expense (benefit) 8 4,767 25 14 — 4,814 Less: Income tax expense (benefit) 4 1,057 11 — — 1,072 Total other comprehensive income (loss), net of income tax expense (benefit) $ 4 $ 3,710 $ 14 $ 14 $ — $ 3,742 Six Months Ended June 30, 2022 Unrealized change arising during period $ (16) $ (31,337) $ (205) $ 6 $ (4) $ (31,556) Less: Reclassification adjustments included in net income (8) (735) — (15) — (758) Total other comprehensive income (loss), before of income tax expense (benefit) (8) (30,602) (205) 21 (4) (30,798) Less: Income tax expense (benefit) (3) (4,457) 81 (4) — (4,383) Total other comprehensive income (loss), net of income tax expense (benefit) $ (5) $ (26,145) $ (286) $ 25 $ (4) $ (26,415) Six Months Ended June 30, 2021 Unrealized change arising during period $ 41 $ (3,855) $ 195 $ (8) $ (1) $ (3,628) Less: Reclassification adjustments included in net income (6) 530 — (23) — 501 Total other comprehensive income (loss), before income tax expense (benefit) 47 (4,385) 195 15 (1) (4,129) Less: Income tax expense (benefit) 10 (896) 56 4 — (826) Total other comprehensive income (loss), net of income tax expense (benefit) $ 37 $ (3,489) $ 139 $ 11 $ (1) $ (3,303) The following table presents the effect of the reclassification of significant items out of AOCI on the respective line items in the Condensed Consolidated Statements of Income (Loss): Amount Reclassified from AOCI Affected Line Item in the Three Months Ended June 30, Condensed Consolidated (in millions) 2022 2021 Statements of Income (Loss) Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken Investments $ (8) $ (4) Net realized gains (losses) Total (8) (4) Unrealized appreciation (depreciation) of all other investments Investments (596) 139 Net realized gains (losses) Total (596) 139 Change in retirement plan liabilities adjustment Prior-service credit — (1) * Actuarial losses (7) (10) * Total (7) (11) Total reclassifications for the period $ (611) $ 124 Amount Reclassified from AOCI Affected Line Item in the Six Months Ended June 30, Condensed Consolidated (in millions) 2022 2021 Statements of Income (Loss) Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken Investments $ (8) $ (6) Net realized gains (losses) Total (8) (6) Unrealized appreciation (depreciation) of all other investments Investments (735) 530 Net realized gains (losses) Total (735) 530 Change in retirement plan liabilities adjustment Prior-service credit (1) (2) Actuarial losses (14) (21) Total (15) (23) Total reclassifications for the period $ (758) $ 501

Earnings Per Common Share (EPS)

Earnings Per Common Share (EPS)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Common Share (EPS)	13. Earnings Per Common Share (EPS) The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus common shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding and adjusted to reflect all stock dividends and stock splits, using the treasury stock method or the if-converted method, as applicable. The following table presents the computation of basic and diluted EPS: Three Months Ended Six Months Ended (dollars in millions, except per common share data) 2022 2021 2022 2021 Numerator for EPS: Income from continuing operations $ 3,393 $ 150 $ 8,049 $ 4,080 Less: Net income from continuing operations attributable to noncontrolling interests 356 51 752 105 Less: Preferred stock dividends 8 8 15 15 Income attributable to AIG common shareholders from continuing operations 3,029 91 7,282 3,960 Loss from discontinued operations, net of income tax expense (1) — (1) — Net income attributable to AIG common shareholders $ 3,028 $ 91 $ 7,281 $ 3,960 Denominator for EPS: Weighted average common shares outstanding - basic 790,897,301 862,930,931 803,532,447 865,508,343 Dilutive common shares 9,833,445 9,946,372 9,765,891 9,057,937 Weighted average common shares outstanding - diluted (a) 800,730,746 872,877,303 813,298,338 874,566,280 Income per common share attributable to AIG common shareholders: Basic: Income from continuing operations $ 3.83 $ 0.11 $ 9.06 $ 4.58 Income from discontinued operations $ — $ — $ — $ — Income attributable to AIG common shareholders $ 3.83 $ 0.11 $ 9.06 $ 4.58 Diluted: Income from continuing operations $ 3.78 $ 0.11 $ 8.95 $ 4.53 Income from discontinued operations $ — $ — $ — $ — Income attributable to AIG common shareholders $ 3.78 $ 0.11 $ 8.95 $ 4.53 (a) Potential dilutive common shares include our share-based employee compensation plans, a weighted average portion of the 10-year warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011, which expired in January 2021 and an option for Blackstone to exchange all or a portion of its ownership interest in Corebridge for AIG common shares. The number of common shares excluded from diluted shares outstanding was 46.6 million and 46.2 million for the three- and six-month periods ended June 30, 2022, respectively, and 5.5 million and 7.4 million for the three- and six-month periods ended June 30, 2021, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive. For information regarding the Blackstone option to exchange all or a portion of its ownership interest in Corebridge for AIG common shares, see Note 1. For information regarding our repurchases of AIG Common Stock, see Note 12.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes U.S. TAX LAW CHANGES The IRS has continued to issue new guidance in relation to the Tax Cuts and Jobs Act (the Tax Act) enacted in 2017. Guidance has been issued covering provisions for Global Intangible Low-Taxed Income (GILTI) under which taxes are imposed on the excess of a deemed return on tangible assets of certain foreign subsidiaries, foreign tax credits by which the U.S. mitigates double taxation of foreign operations, and other elements of tax law. Changes to this guidance, and other provisions of tax law, are expected in future periods. Such guidance may result in changes to the interpretations and assumptions we made and actions we may take, which may impact amounts recorded with respect to international provisions of the Tax Act, possibly materially. Consistent with accounting guidance, we have made an accounting policy election to treat GILTI taxes as a period tax charge in the period the tax is incurred. On March 27, 2020, the U.S. enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act to mitigate the economic impacts of the COVID-19 pandemic. The tax provisions of the CARES Act have not had and are currently not expected to have a material impact on AIG’s U.S. federal tax liabilities. On November 15, 2021, the U.S. enacted the Infrastructure Investment and Jobs Act to improve infrastructure in the U.S. The tax provisions of the Infrastructure Investment and Jobs Act have not had and are currently not expected to have a material impact on AIG’s U.S. federal tax liabilities. RECLASSIFICATION OF CERTAIN TAX EFFECTS FROM AOCI We use an item-by-item approach to release the stranded or disproportionate income tax effects in AOCI related to our available-for-sale securities. Under this approach, a portion of the disproportionate tax effects is assigned to each individual security lot at the date the amount becomes lodged. When the individual securities are sold, mature, or are otherwise impaired on an other-than-temporary basis, the assigned portion of the disproportionate tax effect is reclassified from AOCI to income (loss) from continuing operations. INTERIM TAX CALCULATION METHOD We use the estimated annual effective tax rate method in computing our interim tax provision. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rate. In these cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in uncertain tax positions and realizability of deferred tax assets, and are recorded in the period in which the change occurs. While certain impacts of the Tax Act are included in our annual effective tax rate, we continue to refine our calculations as additional information becomes available, which may result in changes to the estimated annual effective tax rate. INTERIM TAX EXPENSE (BENEFIT) For the three-month period ended June 30, 2022, the effective tax rate on income from continuing operations was 21.5 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax charges associated with the effect of foreign operations, state and local income taxes, and non-deductible transfer pricing charges. These tax charges were partially offset by tax benefits associated with tax exempt income and reclassifications from AOCI to income from continuing operations related to the disposal of available for sale securities. The effect of foreign operations is primarily related to income of our foreign operations taxed at statutory tax rates higher than 21 percent, other foreign taxes, and foreign income subject to U.S. taxation. For the six-month period ended June 30, 2022, the effective tax rate on income from continuing operations was 20.7 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax benefits associated with tax exempt income, reclassifications from AOCI to income from continuing operations related to the disposal of available for sale securities, excess tax benefits related to share based compensation payments recorded through the income statement and tax adjustments related to prior year returns. These tax benefits were partially offset by tax charges associated with the effect of foreign operations, state and local income taxes, and non-deductible transfer pricing charges. The effect of foreign operations is primarily related to income of our foreign operations taxed at statutory tax rates higher than 21 percent, other foreign taxes, and foreign income subject to U.S. taxation. For the three-month period ended June 30, 2021, the effective tax rate on income from continuing operations was (2.0) percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax benefits associated with the release of reserves for uncertain tax positions and interest related to a New York State tax settlement based on the completion of recent audit activity, tax exempt income, remeasurement of deferred taxes as a result of the increase in the UK corporate statutory income tax rate, and reclassifications from AOCI to income from continuing operations related to the disposal of available for sale securities. These tax benefits were partially offset by tax charges associated with the effect of foreign operations, state and local income taxes, and non-deductible transfer pricing charges. We also recognized a tax charge associated with reduction of net operating loss deferred tax assets in certain foreign jurisdictions, with a corresponding decrease in the related deferred tax asset valuation allowance. The effect of foreign operations is primarily related to income of our foreign operations taxed at statutory tax rates higher than 21 percent, other foreign taxes, and foreign income subject to U.S. taxation. For the six-month period ended June 30, 2021, the effective tax rate on income from continuing operations was 16.3 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax benefits associated with the release of reserves for uncertain tax positions, penalties and interest related to the recent completion of audit activity by the IRS, release of reserves for uncertain tax positions and interest related to a New York State tax settlement based on the completion of recent audit activity, tax exempt income, remeasurement of deferred taxes as a result of an increase in the UK corporate income tax rate enacted during the second quarter, and reclassifications from AOCI to income from continuing operations related to the disposal of available for sale securities. These tax benefits were partially offset by tax charges associated with the establishment of U.S. federal valuation allowance related to certain tax attribute carryforwards, the effect of foreign operations, excess tax charges related to share based compensation payments recorded through the income statement, state and local income taxes, and non-deductible transfer pricing charges. We also recognized a tax charge associated with reduction of net operating loss deferred tax assets in certain foreign jurisdictions, with a corresponding decrease in the related deferred tax asset valuation allowance. The effect of foreign operations is primarily related to income of our foreign operations taxed at statutory tax rates higher than 21 percent, other foreign taxes, and foreign income subject to U.S. taxation. For the six-month period ended June 30, 2022, we consider our foreign earnings with respect to certain operations in Canada, South Africa, Japan, Latin America, Bermuda as well as the European, Asia Pacific and Middle East regions to be indefinitely reinvested. These earnings relate to ongoing operations and have been reinvested in active business operations. Deferred taxes, if necessary, have been provided on earnings of non-U.S. affiliates whose earnings are not indefinitely reinvested. ASSESSMENT OF DEFERRED TAX ASSET VALUATION ALLOWANCE The evaluation of the recoverability of our deferred tax asset and the need for a valuation allowance requires us to weigh all positive and negative evidence to reach a conclusion that it is more likely than not that all or some portion of the deferred tax asset will not be realized. The weight given to the evidence is commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, the more positive evidence is necessary and the more difficult it is to support a conclusion that a valuation allowance is not needed. Our framework for assessing the recoverability of the deferred tax asset requires us to consider all available evidence, including: • the nature, frequency, and amount of cumulative financial reporting income and losses in recent years; • the sustainability of recent operating profitability of our subsidiaries; • the predictability of future operating profitability of the character necessary to realize the net deferred tax asset, including forecasts of future income for each of our businesses and actual and planned business and operational changes; • the carryforward periods for the net operating loss, capital loss and foreign tax credit carryforwards, including the effect of reversing taxable temporary differences; and • prudent and feasible actions and tax planning strategies that would be implemented, if necessary, to protect against the loss of the deferred tax asset. In performing our assessment of the recoverability of the deferred tax asset under this framework, we consider tax laws governing the utilization of the net operating loss, capital loss and foreign tax credit carryforwards in each applicable jurisdiction. Under U.S. tax law, a company generally must use its net operating loss carryforwards before it can use its foreign tax credit carryforwards, even though the carryforward period for the foreign tax credit is shorter than for the net operating loss. Our U.S. consolidated federal income tax group includes both life companies and non-life companies. While the U.S. taxable income of our non-life companies can be offset by our net operating loss carryforwards, only a portion (no more than 35 percent) of the U.S. taxable income of our life companies can be offset by those net operating loss carryforwards. The remaining tax liability of our life companies can be offset by the foreign tax credit carryforwards. Accordingly, we are able to utilize both the net operating loss and foreign tax credit carryforwards concurrently. Recent events, including changes in target interest rates by the Board of Governors of the Federal Reserve System, and significant market volatility, continue to impact actual and projected results of our business operations as well as our views on potential effectiveness of certain prudent and feasible tax planning strategies. In order to demonstrate the predictability and sufficiency of future taxable income necessary to support the realizability of the net operating losses and foreign tax credit carryforwards, we have considered forecasts of future income for each of our businesses, including assumptions about future macro-economic and AIG-specific conditions and events, and any impact these conditions and events may have on our prudent and feasible tax planning strategies. We also subjected the forecasts to a variety of stresses of key assumptions and evaluated the effect on tax attribute utilization. The carryforward period of our foreign tax credit carryforwards runs through 2023. Carryforward periods for our net operating losses extend from 2028 forward. However, utilization of a portion of our net operating losses is limited under separate return limitation year rules. To the extent that the valuation allowance is attributed to changes in forecast of current year taxable income, the impact is included in our estimated annualized effective tax rate. A valuation allowance related to changes in forecasts of income in future periods as well as other items not related to the current year is recorded discretely. As of June 30, 2022, the balance sheet reflects a valuation allowance of $850 million related to a portion of our tax attribute carryforwards that are no longer more-likely-than-not to be realized. No change in valuation allowance was recorded for the three-month or six-month periods ended June 30, 2022. Estimates of future taxable income, including income generated from prudent and feasible actions and tax planning strategies, impact of settlements with taxing authorities, and any changes to interpretations and assumptions related to the impact of the Tax Act could change in the near term, perhaps materially, which may require us to consider any potential impact to our assessment of the recoverability of the deferred tax asset. Such potential impact could be material to our consolidated financial condition or results of operations for an individual reporting period. Further, the planned separation of the Life and Retirement business from AIG, if completed, would result in tax deconsolidation of these entities from the AIG Consolidated Federal Tax Group and potentially impact our ability to utilize certain tax loss and credit carryforwards. Such potential impact could result in valuation allowance being established with respect to such tax attributes in the reporting period in which tax deconsolidation occurs. For the six-month period ended June 30, 2022, recent changes in market conditions, including rising interest rates, impacted the unrealized tax gains and losses in the available for sale securities portfolios of both our U.S. Life Insurance and non-life insurance companies, resulting in deferred tax assets related to net unrealized tax capital losses. The deferred tax assets relate to the unrealized tax capital losses for which the carryforward period has not yet begun, and as such, when assessing recoverability, we consider our ability and intent to hold the underlying securities to recovery. As of June 30, 2022, based on all available evidence, we concluded that a valuation allowance should be established on a portion of the deferred tax assets related to unrealized tax capital losses that are not more-likely-than-not to be realized. For the six-month period ended June 30, 2022, we established $1.5 billion of valuation allowance associated with the unrealized tax capital losses in the U.S. Life Insurance Companies’ available for sale securities portfolio and $630 million of valuation allowance associated with the unrealized tax capital losses in the non-life insurance companies’ available for sale securities portfolio. For the three-month period ended June 30, 2022, we recorded an increase in valuation allowance of $735 million associated with the unrealized tax capital losses in the U.S. Life Insurance Companies’ available for sale securities portfolio and $460 million associated with the unrealized tax capital losses in the non-life insurance companies’ available for sale securities portfolio. All of the valuation allowance establishment was allocated to other comprehensive income. For the six-month period ended June 30, 2022, we recognized a net $23 million decrease in deferred tax asset valuation allowance associated with certain foreign and state jurisdictions, primarily attributable to current year activity. TAX EXAMINATIONS AND LITIGATION We file a consolidated U.S. federal income tax return with our eligible U.S. subsidiaries. Income earned by subsidiaries operating outside the U.S. is taxed, and income tax expense is recorded, based on applicable U.S. and foreign laws. We are currently under examination by the IRS for the tax years 2011 through 2019. In September 2020, we received the IRS Revenue Agent Report containing agreed and disagreed issues for the audit of tax years 2007-2010. In October 2020, we filed a protest of the disagreed issues with the IRS Independent Office of Appeals (IRS Appeals). In March 2021, the IRS audit team issued their rebuttal to the protest of disagreed issues to IRS Appeals. We had an IRS Appeals conference in October 2021 and are continuing to engage in the Appeals process. In 2009, after paying amounts due on a statutory notice of deficiency related to the disallowance of foreign tax credits associated with cross border financing transactions, we filed a refund lawsuit in the Southern District of New York (Southern District) with respect to tax year 1997. During the fourth quarter of 2020, the parties executed a binding settlement agreement with respect to the underlying issues in the lawsuit. On October 22, 2020, the Southern District dismissed the case based upon the settlement reached between AIG and the government. During June 2021 and October 2021, AIG made additional payments of $354 million and $10 million to the U.S. Treasury with respect to this matter. In March 2022, interest amounts due on the settlement of items challenged by the IRS during the audit of AIG's 2006 and prior years were agreed to between AIG and the IRS. ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES At both June 30, 2022 and December 31, 2021, our unrecognized tax benefits, excluding interest and penalties, were $1.2 billion. At June 30, 2022 and December 31, 2021, our unrecognized tax benefits related to tax positions that, if recognized, would not affect the effective tax rate because they relate to such factors as the timing, rather than the permissibility, of the deduction were $2 million and $22 million, respectively. Accordingly, at June 30, 2022 and December 31, 2021, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $1.2 billion and $1.1 billion, respectively. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At June 30, 2022 and December 31, 2021, we had accrued liabilities of $66 million and $69 million, respectively for the payment of interest (net of the federal benefit) and penalties. For the six-month period ended June 30, 2022, we accrued benefit of $3 million for the payment of interest and penalties. The interest activity related to unrecognized tax benefits for the six-month period ended June 30, 2022 was due to the expiration of a certain statute in a foreign jurisdiction. For the six-month period ended June 30, 2021, we accrued benefit of $203 million for the payment of interest and penalties. The activity for the six-month period ended June 30, 2021 primarily related to the completion of audit activity by the IRS. We believe it is reasonably possible that our unrecognized tax benefits could decrease within the next 12 months by as much as $11 million, principally as a result of potential resolutions or settlements of prior years’ tax items. The prior years’ tax items include unrecognized tax benefits related to the deductibility of certain expenses.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Use of Estimates	USE OF ESTIMATES The preparation of financial statements in accordance with U.S. GAAP requires the application of accounting policies that often involve a significant degree of judgment. Accounting policies that we believe are most dependent on the application of estimates and assumptions are considered our critical accounting estimates and are related to the determination of: • loss reserves; • future policy benefit reserves for life and accident and health insurance contracts; • liabilities for guaranteed benefit features of variable annuity, fixed annuity and fixed index annuity products; • embedded derivative liabilities for fixed index annuity and life products; • estimated gross profits to value deferred acquisition costs and unearned revenue for investment-oriented products; • reinsurance assets, including the allowance for credit losses and disputes; • goodwill impairment; • allowance for credit losses on certain investments, primarily on loans and available for sale fixed maturity securities; • legal contingencies; • fair value measurements of certain financial assets and financial liabilities; and • income taxes, in particular the recoverability of our deferred tax asset and establishment of provisions for uncertain tax positions. These accounting estimates require the use of assumptions about matters, some of which are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial condition, results of operations and cash flows could be materially affected.
Accounting Standards Adopted and Future Application of Accounting Standards	ACCOUNTING STANDARDS ADOPTED Reference Rate Reform On March 12, 2020, the FASB issued an accounting standard that provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The standard allows us to account for certain contract modifications that result from the discontinuation of the London Inter-Bank Offered Rate (LIBOR) or another reference rate as a continuation of the existing contract without additional analysis. This standard may be elected and applied prospectively over time from March 12, 2020 through December 31, 2022 as reference rate reform activities occur. Where permitted by the guidance, we have accounted for contract modifications stemming from the discontinuation of LIBOR or another reference rate as a continuation of the existing contract. As part of our implementation efforts, we have and will continue to assess our operational readiness and current and alternative reference rates’ merits, limitations, risks and suitability for our investment and insurance processes. The adoption of the standard has not had, and is not expected to have, a material impact on our reported consolidated financial condition, results of operations, cash flows and required disclosures. FUTURE APPLICATION OF ACCOUNTING STANDARDS Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued an accounting standard update with the objective of making targeted improvements to the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The Company will adopt the standard on January 1, 2023. We continue to evaluate and expect the adoption of this standard will impact our financial condition, results of operations, statement of cash flows and disclosures, as well as systems, processes and controls. The Company will adopt the standard using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs associated therewith. The Company will adopt the standard in relation to market risk benefits (MRBs) on a retrospective basis. Based upon this transition method, the Company currently estimates that the January 1, 2021 transition date (Transition Date) impact from adoption is likely to result in a decrease in AIG’s equity between approximately $1.0 billion and $3.0 billion in AIG’s Life and Retirement business. The most significant drivers of the transition adjustment are expected to be (1) changes related to market risk benefits in our Individual Retirement and Group Retirement segments, including the impact of non-performance adjustments (2) changes to the discount rate which will most significantly impact our Life Insurance and Institutional Markets segments and (3) the removal of balances recorded in accumulated other comprehensive income (loss) (AOCI) related to changes in unrealized appreciation (depreciation) on investments. Market risk benefits: The standard requires the measurement of all MRBs associated with deposit (or account balance) contracts at fair value at each reporting period. Changes in fair value compared to prior periods will be recorded and presented separately within the income statement, with the exception of instrument-specific credit risk changes (non-performance adjustments), which will be recognized in other comprehensive income. MRBs will impact both retained earnings and AOCI upon transition. As MRBs are required to be accounted for at fair value, the quarterly valuation of these items will result in variability and volatility in the Company’s results following adoption. Discount rate assumption: The standard requires the discount rate assumption for the liability for future policy benefits to be updated at the end of each reporting period using an upper-medium grade (low credit risk) fixed income instrument yield that maximizes the use of observable market inputs. Upon transition, the Company currently estimates an adjustment to AOCI due to the fact that the market upper-medium grade (low credit risk) interest rates as of the Transition Date differ from reserve interest accretion rates. Lower interest rates result in a higher liability for future policy benefits, and are anticipated to more significantly impact our Life Insurance and Institutional Markets segments. Following adoption, the impact of changes to discount rates will be recognized through other comprehensive income. Changes resulting from unlocking the discount rate each reporting period will primarily impact term life insurance and other traditional life insurance products, as well as pension risk transfer and structured settlement products. Removal of balances related to changes in unrealized appreciation (depreciation) on investments: Under the standard, the majority of balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments will be eliminated. In addition to the above, the standard also: • Requires the review and if necessary, update of future policy benefit assumptions at least annually for traditional and limited pay long duration contracts, with the recognition and separate presentation of any resulting re-measurement gain or loss (except for discount rate changes as noted above) in the income statement. • Simplifies the amortization of DAC to a constant level basis over the expected term of the related contracts with adjustments for unexpected terminations, but no longer requires an impairment test. • Increased disclosures of disaggregated roll-forwards of several balances, including: liabilities for future policy benefits, deferred acquisition costs, account balances, market risk benefits, separate account liabilities and information about significant inputs, judgments and methods used in measurement and changes thereto and impact of those changes. We expect that the accounting for Fortitude Reinsurance Company Ltd. (Fortitude Re) will continue to remain largely unchanged. With respect to Fortitude Re, the reinsurance assets, including the discount rates, will continue to be calculated using the same methodology and assumptions as the direct policies. Accounting for modified coinsurance (modco) remains unchanged. The Company has created a governance framework and a plan to support implementation of the updated standard. As part of its implementation plan, the Company has also advanced the modernization of its actuarial technology platform to enhance its modeling, data management, experience study and analytical capabilities, increase the end-to-end automation of key reporting and analytical processes and optimize its control framework. The Company has designed and begun implementation and testing of internal controls related to the new processes created as part of implementing the updated standard and will continue to refine these internal controls until the formal implementation in the first quarter of 2023. Troubled Debt Restructuring and Vintage Disclosures In March 2022, the FASB issued an accounting standard update that eliminates the accounting guidance for troubled debt restructurings for creditors and amends the guidance on “vintage disclosures” to require disclosure of current-period gross write-offs by year of origination. The standard also updates the requirements for accounting for credit losses by adding enhanced disclosures for creditors related to loan refinancings and restructurings for borrowers experiencing financial difficulty. Because the Company has already adopted the current expected credit loss (CECL) model, the amendments in this standard are effective for fiscal years beginning after December 15, 2022, including interim periods within those years. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Fair Value Measurement On June 30, 2022, the FASB issued an accounting standards update to address diversity in practice by clarifying that a contractual sale restriction should not be considered in the measurement of the fair value of an equity security. It also requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. The guidance is effective for public companies for fiscal years beginning after December 15, 2023 and interim period within those years, with early adoption permitted. For entities other than investment companies, the accounting standards update applies prospectively, with any adjustments resulting from adoption recognized in earnings on the date of adoption. We are assessing the impact of this standard.
Investments	We purchase certain RMBS securities that have experienced more-than-insignificant deterioration in credit quality since origination. These are referred to as PCD assets. At the time of purchase an allowance is recognized for these PCD assets by adding it to the purchase price to arrive at the initial amortized cost. There is no credit loss expense recognized upon acquisition of a PCD asset. When determining the initial allowance for credit losses, management considers the historical performance of underlying assets and available market information as well as bond-specific structural considerations, such as credit enhancement and the priority of payment structure of the security. In addition, the process of estimating future cash flows includes, but is not limited to, the following critical inputs: • Current delinquency rates; • Expected default rates and the timing of such defaults; • Loss severity and the timing of any recovery; and • Expected prepayment speeds. Subsequent to the acquisition date, the PCD assets follow the same accounting as other structured securities that are not high credit quality.
Reinsurance	Fortitude Re is the reinsurer of the majority of AIG’s run-off operations. The reinsurance transactions are structured as modco and loss portfolio transfer arrangements with funds withheld (funds withheld). In modco and funds withheld arrangements, the investments supporting the reinsurance agreements, and which reflect the majority of the consideration that would be paid to the reinsurer for entering into the transaction, are withheld by, and therefore continue to reside on the balance sheet of, the ceding company (i.e., AIG) thereby creating an obligation for the ceding company to pay the reinsurer (i.e., Fortitude Re) at a later date. Additionally, as AIG maintains ownership of these investments, AIG will maintain its existing accounting for these assets (e.g., the changes in fair value of available for sale securities will be recognized within Other comprehensive income (loss)). As a result of the deconsolidation resulting from the Majority Interest Fortitude Sale, AIG has established a funds withheld payable to Fortitude Re while simultaneously establishing a reinsurance asset representing reserves for the insurance coverage that Fortitude Re has assumed. The funds withheld payable contains an embedded derivative and changes in fair value of the embedded derivative related to the funds withheld payable are recognized in earnings through Net realized gains (losses). This embedded derivative is considered a total return swap with contractual returns that are attributable to various assets and liabilities associated with these reinsurance agreements. For additional information on Fortitude Re see Note 7 to the Consolidated Financial Statements in the 2021 Annual Report. There is a diverse pool of assets supporting the funds withheld arrangements with Fortitude Re. The following summarizes the composition of the pool of assets: June 30, 2022 December 31, 2021 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 21,982 $ 21,982 $ 31,815 $ 31,815 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 3,309 3,309 1,983 1,983 Fair value through net investment income Commercial mortgage loans 4,126 4,010 3,637 3,859 Amortized cost Real estate investments 168 422 201 395 Amortized cost Private equity funds / hedge funds 1,794 1,794 1,606 1,606 Fair value through net investment income Policy loans 364 364 380 380 Amortized cost Short-term investments 135 135 50 50 Fair value through net investment income Funds withheld investment assets 31,878 32,016 39,672 40,088 Derivative assets, net (b) 94 94 81 81 Fair value through net realized gains (losses) Other (c) 860 860 602 602 Amortized cost Total $ 32,832 $ 32,970 $ 40,355 $ 40,771 (a) The change in the net unrealized gains (losses) on available for sale securities related to the Fortitude Re funds withheld assets was $(6.1) billion ($(4.8) billion after-tax) and $(1.6) billion ($(1.3) billion after-tax), respectively for the six months ended June 30, 2022 and 2021. (b) The derivative assets and liabilities have been presented net of cash collateral. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $369 million and $20 million, respectively, as of June 30, 2022. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $389 million and $10 million, respectively, as of December 31, 2021. These derivative assets and liabilities are fully collateralized either by cash or securities. (c) Primarily comprised of Cash and Accrued investment income. The estimation of reinsurance recoverables involves a significant amount of judgment, particularly for latent exposures, such as asbestos, due to their long-tail nature. Reinsurance assets include reinsurance recoverables on unpaid losses and loss adjustment expenses that are estimated as part of our loss reserving process and, consequently, are subject to similar judgments and uncertainties as the estimation of gross loss reserves. Similarly, Other assets include reinsurance recoverables for contracts which are accounted for as deposits. We assess the collectability of reinsurance recoverable balances in each reporting period, through either historical trends of disputes and credit events or financial analysis of the credit quality of the reinsurer. We record adjustments to reflect the results of these assessments through an allowance for credit losses and disputes that reduces the carrying amount of reinsurance and other assets on the consolidated balance sheets (collectively, reinsurance recoverables). This estimate requires significant judgment for which key considerations include: • paid and unpaid amounts recoverable; • whether the balance is in dispute or subject to legal collection; • the relative financial health of the reinsurer as determined by the Obligor Risk Ratings (ORRs) we assign to each reinsurer based upon our financial reviews; reinsurers that are financially troubled (i.e., in run-off, have voluntarily or involuntarily been placed in receivership, are insolvent, are in the process of liquidation or otherwise subject to formal or informal regulatory restriction) are assigned ORRs that will generate a significant allowance; and • whether collateral and collateral arrangements exist. An estimate of the reinsurance recoverables lifetime expected credit losses is established utilizing a probability of default and loss given default method, which reflects the reinsurer’s ORR. The allowance for credit losses excludes disputed amounts. An allowance for disputes is established for a reinsurance recoverable using the losses incurred model for contingencies.
Credit Losses	The estimation of reinsurance recoverables involves a significant amount of judgment, particularly for latent exposures, such as asbestos, due to their long-tail nature. Reinsurance assets include reinsurance recoverables on unpaid losses and loss adjustment expenses that are estimated as part of our loss reserving process and, consequently, are subject to similar judgments and uncertainties as the estimation of gross loss reserves. Similarly, Other assets include reinsurance recoverables for contracts which are accounted for as deposits. We assess the collectability of reinsurance recoverable balances in each reporting period, through either historical trends of disputes and credit events or financial analysis of the credit quality of the reinsurer. We record adjustments to reflect the results of these assessments through an allowance for credit losses and disputes that reduces the carrying amount of reinsurance and other assets on the consolidated balance sheets (collectively, reinsurance recoverables). This estimate requires significant judgment for which key considerations include: • paid and unpaid amounts recoverable; • whether the balance is in dispute or subject to legal collection; • the relative financial health of the reinsurer as determined by the Obligor Risk Ratings (ORRs) we assign to each reinsurer based upon our financial reviews; reinsurers that are financially troubled (i.e., in run-off, have voluntarily or involuntarily been placed in receivership, are insolvent, are in the process of liquidation or otherwise subject to formal or informal regulatory restriction) are assigned ORRs that will generate a significant allowance; and • whether collateral and collateral arrangements exist. An estimate of the reinsurance recoverables lifetime expected credit losses is established utilizing a probability of default and loss given default method, which reflects the reinsurer’s ORR. The allowance for credit losses excludes disputed amounts. An allowance for disputes is established for a reinsurance recoverable using the losses incurred model for contingencies.
Liability for Unpaid Losses and Loss Adjustment Expenses (Loss Reserves)	Loss reserves represent the accumulation of estimates of unpaid claims, including estimates for claims incurred but not reported and loss adjustment expenses, less applicable discount. We regularly review and update the methods used to determine loss reserve estimates. Because these estimates are subject to the outcome of future events, changes in estimates are common given that loss trends vary and time is often required for changes in trends to be recognized and confirmed. Any adjustments resulting from this review are reflected currently in pre-tax income, except to the extent such adjustment impacts a deferred gain under a retroactive reinsurance agreement, in which case the ceded portion would be amortized into pre-tax income in subsequent periods. Reserve changes that increase previous estimates of ultimate cost are referred to as unfavorable or adverse development or reserve strengthening. Reserve changes that decrease previous estimates of ultimate cost are referred to as favorable development or reserve releases.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Continuing Operations by Operating Segment	The following table presents AIG’s continuing operations by operating segment: Three Months Ended June 30, 2022 2021 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 2,972 $ 406 (a) $ 2,685 $ 169 (a) International 3,414 393 (a) 3,530 294 (a) Net investment income 458 458 731 731 Total General Insurance 6,844 1,257 6,946 1,194 Life and Retirement Individual Retirement 1,288 204 1,519 617 Group Retirement 682 164 820 347 Life Insurance 1,299 117 1,295 20 Institutional Markets 786 78 1,412 140 Total Life and Retirement 4,055 563 5,046 1,124 Other Operations Other Operations before consolidation and eliminations 207 (331) 259 (516) Consolidation and eliminations (136) (130) (125) (94) Total Other Operations 71 (461) 134 (610) Total 10,970 1,359 12,126 1,708 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 13 10 14 13 Changes in benefit reserves and DAC, VOBA and DSI related to net realized gains (losses) — (128) — 120 Changes in the fair value of equity securities (30) (30) (13) (13) Other income (expense) - net (9) — (2) — Loss on extinguishment of debt — (299) — (106) Net investment income on Fortitude Re funds withheld assets 188 188 507 507 Net realized gains (losses) on Fortitude Re funds withheld assets (86) (86) 173 173 Net realized gains (losses) on Fortitude Re funds withheld embedded derivative 2,776 2,776 (2,056) (2,056) Net realized gains (losses) (b) 615 620 (68) (59) Net loss on divestitures — (1) — (1) Non-operating litigation reserves and settlements 4 4 — — Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 144 — 65 Net loss reserve discount charge — (14) — (22) Integration and transaction costs associated with acquiring or divesting businesses — (38) — (35) Restructuring and other costs — (175) — (126) Non-recurring costs related to regulatory or accounting changes — (9) — (21) Revenues and pre-tax income $ 14,441 $ 4,321 $ 10,681 $ 147 Six Months Ended June 30, 2022 2021 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 5,761 $ 662 (a) $ 5,073 $ (33) (a) International 6,881 583 (a) 7,008 569 (a) Net investment income 1,223 1,223 1,503 1,503 Total General Insurance 13,865 2,468 13,584 2,039 Life and Retirement Individual Retirement 2,673 588 2,996 1,149 Group Retirement 1,426 389 1,626 654 Life Insurance 2,586 108 2,628 (20) Institutional Markets 1,335 202 1,776 282 Total Life and Retirement 8,020 1,287 9,026 2,065 Other Operations Other Operations before consolidation and eliminations 501 (619) 583 (870) AIG consolidation and eliminations (272) (263) (305) (270) Total Other Operations 229 (882) 278 (1,140) Total 22,114 2,873 22,888 2,964 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 27 23 32 35 Changes in benefit reserves and DAC, VOBA and DSI related to net realized gains (losses) — (401) — (83) Changes in the fair value of equity securities (57) (57) 9 9 Other income (expense) - net (16) — (8) — Loss on extinguishment of debt — (299) — (98) Net investment income on Fortitude Re funds withheld assets 479 479 993 993 Net realized gains (losses) on Fortitude Re funds withheld assets (226) (226) 346 346 Net realized gains on Fortitude Re funds withheld embedded derivative 6,094 6,094 326 326 Net realized gains (b) 1,796 1,808 549 568 Net gain on divestitures — 39 — 6 Non-operating litigation reserves and settlements 38 38 — — Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 144 — 84 Net loss reserve discount benefit — 6 — 10 Integration and transaction costs associated with acquiring or divesting businesses — (84) — (44) Restructuring and other costs — (268) — (200) Non-recurring costs related to regulatory or accounting changes — (13) — (41) Revenues and pre-tax income $ 30,249 $ 10,156 $ 25,135 $ 4,875 (a) General Insurance North America’s and General Insurance International’s Adjusted pre-tax income does not include Net investment income as the investment portfolio results are managed at the General Insurance level. Net investment income is shown separately as a component of General Insurance’s total Adjusted pre-tax income results. (b) Includes all net realized gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication and net realized gains and losses on Fortitude Re funds withheld assets held by AIG in support of Fortitude Re’s reinsurance obligations to AIG (Fortitude Re funds withheld assets).

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents information about assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value measurement based on the observability of the inputs used: June 30, 2022 Level 1 Level 2 Level 3 Counterparty Netting (a) Cash Collateral Total (in millions) Assets: Bonds available for sale: U.S. government and government sponsored entities $ — $ 8,146 $ — $ — $ — $ 8,146 Obligations of states, municipalities and political subdivisions — 11,643 957 — — 12,600 Non-U.S. governments 149 13,516 9 — — 13,674 Corporate debt — 140,258 2,483 — — 142,741 RMBS — 11,821 8,352 — — 20,173 CMBS — 14,016 871 — — 14,887 CDO/ABS — 8,818 11,696 — — 20,514 Total bonds available for sale 149 208,218 24,368 — — 232,735 Other bond securities: U.S. government and government sponsored entities — 1,620 — — — 1,620 Obligations of states, municipalities and political subdivisions — 99 — — — 99 Non-U.S. governments — 76 — — — 76 Corporate debt — 1,200 461 — — 1,661 RMBS — 102 192 — — 294 CMBS — 289 32 — — 321 CDO/ABS — 385 2,442 — — 2,827 Total other bond securities — 3,771 3,127 — — 6,898 Equity securities 583 34 12 — — 629 Other invested assets (b) — 131 2,008 — — 2,139 Derivative assets (c) : Interest rate contracts — 4,460 151 — — 4,611 Foreign exchange contracts — 2,113 — — — 2,113 Equity contracts 21 214 152 — — 387 Commodity contracts — 9 — — — 9 Credit contracts — — 1 — — 1 Other contracts — — 16 — — 16 Counterparty netting and cash collateral — — — (4,354) (2,426) (6,780) Total derivative assets 21 6,796 320 (4,354) (2,426) 357 Short-term investments 1,874 1,557 — — — 3,431 Other assets (c) — — 107 — — 107 Separate account assets 82,990 3,745 — — — 86,735 Total $ 85,617 $ 224,252 $ 29,942 $ (4,354) $ (2,426) $ 333,031 Liabilities: Policyholder contract deposits $ — $ 40 $ 6,957 $ — $ — $ 6,997 Derivative liabilities (c) : Interest rate contracts 10 6,289 8 — — 6,307 Foreign exchange contracts — 647 1 — — 648 Equity contracts 4 46 3 — — 53 Credit contracts — 11 33 — — 44 Counterparty netting and cash collateral — — — (4,354) (2,418) (6,772) Total derivative liabilities 14 6,993 45 (4,354) (2,418) 280 Fortitude Re funds withheld payable — — (638) — — (638) Long-term debt — 1,664 — — — 1,664 Total $ 14 $ 8,697 $ 6,364 $ (4,354) $ (2,418) $ 8,303 December 31, 2021 Level 1 Level 2 Level 3 Counterparty Netting (a) Cash Total (in millions) Assets: Bonds available for sale: U.S. government and government sponsored entities $ 2,553 $ 5,641 $ — $ — $ — $ 8,194 Obligations of states, municipalities and political subdivisions — 13,096 1,431 — — 14,527 Non-U.S. governments 9 16,314 7 — — 16,330 Corporate debt — 172,967 2,641 — — 175,608 RMBS — 16,909 10,378 — — 27,287 CMBS — 14,619 1,190 — — 15,809 CDO/ABS — 8,232 11,215 — — 19,447 Total bonds available for sale 2,562 247,778 26,862 — — 277,202 Other bond securities: U.S. government and government sponsored entities — 1,750 — — — 1,750 Obligations of states, municipalities and political subdivisions — 97 — — — 97 Non-U.S. governments — 76 — — — 76 Corporate debt — 916 134 — — 1,050 RMBS — 215 196 — — 411 CMBS — 280 35 — — 315 CDO/ABS — 247 2,332 — — 2,579 Total other bond securities — 3,581 2,697 — — 6,278 Equity securities 669 64 6 — — 739 Other invested assets (b) — 138 1,948 — — 2,086 Derivative assets (c) : Interest rate contracts — 3,873 — — — 3,873 Foreign exchange contracts — 1,188 1 — — 1,189 Equity contracts 7 224 450 — — 681 Commodity contracts — 4 — — — 4 Credit contracts — — 1 — — 1 Other contracts — — 13 — — 13 Counterparty netting and cash collateral — — — (2,779) (2,139) (4,918) Total derivative assets 7 5,289 465 (2,779) (2,139) 843 Short-term investments 2,584 1,842 — — — 4,426 Other assets (c) — — 114 — — 114 Separate account assets 105,221 3,890 — — — 109,111 Total $ 111,043 $ 262,582 $ 32,092 $ (2,779) $ (2,139) $ 400,799 Liabilities: Policyholder contract deposits $ — $ 54 $ 9,682 $ — $ — $ 9,736 Derivative liabilities (c) : Interest rate contracts 1 3,632 — — — 3,633 Foreign exchange contracts — 721 — — — 721 Equity contracts 1 46 6 — — 53 Credit contracts — 16 31 — — 47 Counterparty netting and cash collateral — — — (2,779) (1,089) (3,868) Total derivative liabilities 2 4,415 37 (2,779) (1,089) 586 Fortitude Re funds withheld payable — — 5,922 — — 5,922 Long-term debt — 1,871 — — — 1,871 Total $ 2 $ 6,340 $ 15,641 $ (2,779) $ (1,089) $ 18,115 (a) Represents netting of derivative exposures covered by qualifying master netting agreements. (b) Excludes investments that are measured at fair value using the net asset value (NAV) per share (or its equivalent), which totaled $9.6 billion and $8.4 billion as of June 30, 2022 and December 31, 2021, respectively. (c) Presented as part of Other assets and Other liabilities on the Condensed Consolidated Balance Sheets.
Schedule of Assets Measured on a Recurring Basis	The following tables present changes during the three- and six-month periods ended June 30, 2022 and 2021 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at June 30, 2022 and 2021: (in millions) Fair Value Net Realized Other Purchases, Gross Transfers In Gross Transfers Out Other Fair Value Changes in Changes in Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,087 $ — $ (143) $ (4) $ 17 $ — $ — $ 957 $ — $ (151) Non-U.S. governments 8 — — — 1 — — 9 — — Corporate debt 2,744 (15) (78) (214) 252 (206) — 2,483 — (49) RMBS 8,925 92 (390) (266) — (9) — 8,352 — (390) CMBS 864 5 (46) 85 — (37) — 871 — (47) CDO/ABS 11,776 3 (502) 1,106 349 (1,036) — 11,696 — (513) Total bonds available for sale 25,404 85 (1,159) 707 619 (1,288) — 24,368 — (1,150) Other bond securities: Corporate Debt 260 (4) — 47 161 (3) — 461 (4) — RMBS 199 (13) 1 5 — — — 192 (13) — CMBS 33 (1) — — — — — 32 (1) — CDO/ABS 2,468 (135) — 157 6 (54) — 2,442 — — Total other bond securities 2,960 (153) 1 209 167 (57) — 3,127 (18) — Equity securities 6 — 1 5 — — — 12 — — Other invested assets 1,935 133 (23) (23) — (14) — 2,008 174 — Other assets 108 — — (1) — — — 107 — — Total $ 30,413 $ 65 $ (1,180) $ 897 $ 786 $ (1,359) $ — $ 29,622 $ 156 $ (1,150) (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Liabilities: Policyholder contract deposits $ 8,030 $ (1,322) $ — $ 249 $ — $ — $ — $ 6,957 $ 1,369 $ — Derivative liabilities, net: Interest rate contracts (4) 12 — (70) (81) — — (143) (10) — Foreign exchange contracts — 1 — — — — — 1 (1) — Equity contracts (178) 89 — (59) — (1) — (149) (95) — Credit contracts 31 1 — — — — — 32 (1) — Other contracts (14) (14) — 12 — — — (16) 15 — Total derivative liabilities, net (a) (165) 89 — (117) (81) (1) — (275) (92) — Fortitude Re funds withheld payable 2,206 (2,776) — (68) — — — (638) 2,836 — Total $ 10,071 $ (4,009) $ — $ 64 $ (81) $ (1) $ — $ 6,044 $ 4,113 $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Three Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,896 $ 5 $ 128 $ (65) $ — $ (25) $ — $ 1,939 $ — $ 244 Non-U.S. governments 6 — (1) 1 4 — — 10 — — Corporate debt 2,570 14 17 31 208 (67) — 2,773 — 50 RMBS 11,464 150 (39) (460) — (30) — 11,085 — 957 CMBS 1,104 7 23 85 — (137) — 1,082 — 18 CDO/ABS 9,602 (1) 44 (374) 384 (337) — 9,318 — 403 Total bonds available for sale 26,642 175 172 (782) 596 (596) — 26,207 — 1,672 Other bond securities: RMBS 126 1 — (14) — — — 113 12 — CMBS 46 — — — — — — 46 6 — CDO/ABS 2,346 45 — (112) — — — 2,279 253 — Total other bond securities 2,518 46 — (126) — — — 2,438 271 — Equity securities 128 — (3) (112) 1 (10) — 4 — — Other invested assets 1,897 114 (1) 89 — — — 2,099 122 — Other assets 113 — — — — — — 113 — — Total $ 31,298 $ 335 $ 168 $ (931) $ 597 $ (606) $ — $ 30,861 $ 393 $ 1,672 (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Unrealized Gains (Losses) Included in Liabilities: Policyholder contract deposits $ 7,617 $ 1,363 $ — $ 40 $ — $ — $ — $ 9,020 $ (1,018) $ — Derivative liabilities, net: Interest rate contracts — (2) — 1 — — — (1) 1 — Foreign exchange contracts — — — (1) — — — (1) (1) — Equity contracts (222) (71) — (69) — 5 — (357) 85 — Credit contracts 44 2 — (3) — — — 43 (1) — Other contracts (9) (16) — 15 — — — (10) 17 — Total derivative liabilities, net (a) (187) (87) — (57) — 5 — (326) 101 — Fortitude Re funds withheld payable 3,487 2,056 — (226) — — — 5,317 (1,452) — Total $ 10,917 $ 3,332 $ — $ (243) $ — $ 5 $ — $ 14,011 $ (2,369) $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,431 $ 2 $ (428) $ (65) $ 17 $ — $ — $ 957 $ — $ (410) Non-U.S. governments 7 — — — 2 — — 9 — — Corporate debt 2,641 (26) (151) (37) 382 (326) — 2,483 — (137) RMBS 10,378 222 (943) (874) — (431) — 8,352 — (925) CMBS 1,190 13 (113) 117 — (336) — 871 — (108) CDO/ABS 11,215 19 (1,003) 1,651 1,464 (1,650) — 11,696 — (1,003) Total bonds available for sale 26,862 230 (2,638) 792 1,865 (2,743) — 24,368 — (2,583) Other bond securities: Corporate Debt 134 (4) — 124 222 (15) — 461 (4) — RMBS 196 (18) — 14 — — — 192 (21) — CMBS 35 (3) — — — — — 32 (3) — CDO/ABS 2,332 (249) — 352 63 (56) — 2,442 (162) — Total other bond securities 2,697 (274) — 490 285 (71) — 3,127 (190) — Equity securities 6 — — 6 — — — 12 — — Other invested assets 1,948 245 (27) (38) 47 (167) — 2,008 295 — Other assets 114 — — (7) — — — 107 — — Total $ 31,627 $ 201 $ (2,665) $ 1,243 $ 2,197 $ (2,981) $ — $ 29,622 $ 105 $ (2,583) (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Liabilities: Policyholder contract deposits $ 9,682 $ (3,119) $ — $ 394 $ — $ — $ — $ 6,957 $ 3,353 $ — Derivative liabilities, net: Interest rate contracts — 11 — (73) (81) — — (143) (10) — Foreign exchange contracts (1) 1 — 1 — — — 1 (1) — Equity contracts (444) 390 — (94) — (1) — (149) (247) — Credit contracts 30 2 — — — — — 32 (1) — Other contracts (13) (32) — 29 — — — (16) 32 — Total derivative liabilities, net (a) (428) 372 — (137) (81) (1) — (275) (227) — Fortitude Re funds withheld payable 5,922 (6,094) — (466) — — — (638) 6,316 — Total $ 15,176 $ (8,841) $ — $ (209) $ (81) $ (1) $ — $ 6,044 $ 9,442 $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Six Months Ended June 30, 2021 Assets: Obligations of states, municipalities and political subdivisions $ 2,105 $ 8 $ (31) $ (118) $ — $ (25) $ — $ 1,939 $ — $ 234 Non-U.S. governments 5 — (1) 1 5 — — 10 — — Corporate debt 2,349 13 7 208 395 (199) — 2,773 — (109) RMBS 11,694 317 25 (891) — (60) — 11,085 — 943 CMBS 922 16 (33) 258 56 (137) — 1,082 — (38) CDO/ABS 9,814 15 30 (538) 838 (841) — 9,318 — 467 Total bonds available for sale 26,889 369 (3) (1,080) 1,294 (1,262) — 26,207 — 1,497 Other bond securities: RMBS 139 4 — (30) — — — 113 (86) — CMBS 47 (1) — (6) 6 — — 46 4 — CDO/ABS 2,512 34 — (267) — — — 2,279 255 — Total other bond securities 2,698 37 — (303) 6 — — 2,438 173 — Equity securities 51 11 — (123) 76 (11) — 4 3 — Other invested assets 1,827 256 (7) 23 — — — 2,099 245 — Other assets 113 — — — — — — 113 — — Total $ 31,578 $ 673 $ (10) $ (1,483) $ 1,376 $ (1,273) $ — $ 30,861 $ 421 $ 1,497 (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Liabilities: Policyholder contract deposits $ 9,798 $ (897) $ — $ 119 $ — $ — $ — $ 9,020 $ 1,553 $ — Derivative liabilities, net: Interest rate contracts — (2) — 1 — — — (1) 2 — Foreign exchange contracts (2) 1 — — — — — (1) (1) — Equity contracts (151) (97) — (154) — 45 — (357) 13 — Credit contracts 42 7 — (6) — — — 43 (1) — Other contracts (8) (33) — 31 — — — (10) 33 — Total derivative liabilities, net(a) (119) (124) — (128) — 45 — (326) 46 — Fortitude Re funds withheld payable 6,042 (326) — (399) — — — 5,317 1,503 — Total $ 15,721 $ (1,347) $ — $ (408) $ — $ 45 $ — $ 14,011 $ 3,102 $ — (a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. The following table presents the gross components of purchases, sales, issuances and settlements, net, shown above, for the three- and six-month periods ended June 30, 2022 and 2021 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets: (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ (4) $ — $ (4) Corporate debt 14 — (228) (214) RMBS 176 — (442) (266) CMBS 76 — 9 85 CDO/ABS 1,245 — (139) 1,106 Total bonds available for sale 1,511 (4) (800) 707 Other bond securities: Corporate debt 5 — 42 47 RMBS 14 — (9) 5 CDO/ABS 293 — (136) 157 Total other bond securities 312 — (103) 209 Equity securities 5 — — 5 Other invested assets 259 — (282) (23) Other assets — — (1) (1) Total $ 2,087 $ (4) $ (1,186) $ 897 Liabilities: Policyholder contract deposits $ — $ 250 $ (1) $ 249 Derivative liabilities, net (164) 1 46 (117) Fortitude Re funds withheld payable — — (68) (68) Total $ (164) $ 251 $ (23) $ 64 Three Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 3 $ (23) $ (45) $ (65) Non-U.S. governments 1 — — 1 Corporate debt 212 (32) (149) 31 RMBS 318 (115) (663) (460) CMBS 97 — (12) 85 CDO/ABS 780 119 (1,273) (374) Total bonds available for sale 1,411 (51) (2,142) (782) Other bond securities: RMBS 1 (9) (6) (14) CDO/ABS — — (112) (112) Total other bond securities 1 (9) (118) (126) Equity securities — (3) (109) (112) Other invested assets 194 — (105) 89 Total $ 1,606 $ (63) $ (2,474) $ (931) Liabilities: Policyholder contract deposits — 202 (162) 40 Derivative liabilities, net (71) 1 13 (57) Fortitude Re funds withheld payable — — (226) (226) Total $ (71) $ 203 $ (375) $ (243) (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (64) $ (2) $ (65) Corporate debt 23 — (60) (37) RMBS 285 — (1,159) (874) CMBS 146 — (29) 117 CDO/ABS 2,131 — (480) 1,651 Total bonds available for sale 2,586 (64) (1,730) 792 Other bond securities: Corporate debt 24 — 100 124 RMBS 31 — (17) 14 CDO/ABS 616 — (264) 352 Total other bond securities 671 — (181) 490 Equity securities 5 — 1 6 Other invested assets 517 — (555) (38) Other assets — — (7) (7) Total $ 3,779 $ (64) $ (2,472) $ 1,243 Liabilities: Policyholder contract deposits $ — $ 467 $ (73) $ 394 Derivative liabilities, net (249) 3 109 (137) Fortitude Re funds withheld payable — — (466) (466) Total $ (249) $ 470 $ (430) $ (209) Six Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 11 $ (43) $ (86) $ (118) Non-U.S. governments 1 — — 1 Corporate Debt 953 (33) (712) 208 RMBS 482 (115) (1,258) (891) CMBS 290 — (32) 258 CDO/ABS 1,156 70 (1,764) (538) Total bonds available for sale 2,893 (121) (3,852) (1,080) Other bond securities: RMBS 1 (9) (22) (30) CMBS — (6) — (6) CDO/ABS — (39) (228) (267) Total other bond securities 1 (54) (250) (303) Equity securities — (3) (120) (123) Other invested assets 392 — (369) 23 Total $ 3,286 $ (178) $ (4,591) $ (1,483) Liabilities: Policyholder contract deposits $ — 393 (274) 119 Derivative liabilities, net (123) 2 (7) (128) Fortitude Re funds withheld payable — — (399) (399) Total $ (123) $ 395 $ (680) $ (408) (a) There were no issuances during the three- and six-month periods ended June 30, 2022 and 2021.
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities shown above are reported in the Condensed Consolidated Statements of Income (Loss) as follows: (in millions) Net Investment Income Net Realized Gains (Losses) Other Total Three Months Ended June 30, 2022 Assets: Bonds available for sale $ 142 $ (57) $ — $ 85 Other bond securities (153) — — (153) Other invested assets 133 — — 133 Three Months Ended June 30, 2021 Assets: Bonds available for sale $ 163 $ 12 $ — $ 175 Other bond securities 46 — — 46 Other invested assets 99 15 — 114 Six Months Ended June 30, 2022 Assets: Bonds available for sale $ 306 $ (76) $ — $ 230 Other bond securities (274) — — (274) Other invested assets 245 — — 245 Six Months Ended June 30, 2021 Assets: Bonds available for sale $ 348 $ 21 $ — $ 369 Other bond securities 37 — — 37 Equity securities 11 — — 11 Other invested assets 241 15 — 256 (in millions) Net Investment Income Net Realized (Gains) Losses Other Total Three Months Ended June 30, 2022 Liabilities: Policyholder contract deposits* $ — $ (1,322) $ — $ (1,322) Derivative liabilities, net — 102 (13) 89 Fortitude Re funds withheld payable — (2,776) — (2,776) Three Months Ended June 30, 2021 Liabilities: Policyholder contract deposits* $ — $ 1,363 $ — $ 1,363 Derivative liabilities, net — (72) (15) (87) Fortitude Re funds withheld payable — 2,056 — 2,056 Six Months Ended June 30, 2022 Liabilities: Policyholder contract deposits* $ — $ (3,119) $ — $ (3,119) Derivative liabilities, net — 400 (28) 372 Fortitude Re funds withheld payable — (6,094) — (6,094) Six Months Ended June 30, 2021 Liabilities: Policyholder contract deposits* $ — $ (897) $ — $ (897) Derivative liabilities, net — (95) (29) (124) Fortitude Re funds withheld payable — (326) — (326) * Primarily embedded derivatives.
Fair Value, Liabilities Measured on Recurring Basis, Liabilities	The following tables present changes during the three- and six-month periods ended June 30, 2022 and 2021 in Level 3 assets and liabilities measured at fair value on a recurring basis, and the realized and unrealized gains (losses) related to the Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets at June 30, 2022 and 2021: (in millions) Fair Value Net Realized Other Purchases, Gross Transfers In Gross Transfers Out Other Fair Value Changes in Changes in Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,087 $ — $ (143) $ (4) $ 17 $ — $ — $ 957 $ — $ (151) Non-U.S. governments 8 — — — 1 — — 9 — — Corporate debt 2,744 (15) (78) (214) 252 (206) — 2,483 — (49) RMBS 8,925 92 (390) (266) — (9) — 8,352 — (390) CMBS 864 5 (46) 85 — (37) — 871 — (47) CDO/ABS 11,776 3 (502) 1,106 349 (1,036) — 11,696 — (513) Total bonds available for sale 25,404 85 (1,159) 707 619 (1,288) — 24,368 — (1,150) Other bond securities: Corporate Debt 260 (4) — 47 161 (3) — 461 (4) — RMBS 199 (13) 1 5 — — — 192 (13) — CMBS 33 (1) — — — — — 32 (1) — CDO/ABS 2,468 (135) — 157 6 (54) — 2,442 — — Total other bond securities 2,960 (153) 1 209 167 (57) — 3,127 (18) — Equity securities 6 — 1 5 — — — 12 — — Other invested assets 1,935 133 (23) (23) — (14) — 2,008 174 — Other assets 108 — — (1) — — — 107 — — Total $ 30,413 $ 65 $ (1,180) $ 897 $ 786 $ (1,359) $ — $ 29,622 $ 156 $ (1,150) (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Liabilities: Policyholder contract deposits $ 8,030 $ (1,322) $ — $ 249 $ — $ — $ — $ 6,957 $ 1,369 $ — Derivative liabilities, net: Interest rate contracts (4) 12 — (70) (81) — — (143) (10) — Foreign exchange contracts — 1 — — — — — 1 (1) — Equity contracts (178) 89 — (59) — (1) — (149) (95) — Credit contracts 31 1 — — — — — 32 (1) — Other contracts (14) (14) — 12 — — — (16) 15 — Total derivative liabilities, net (a) (165) 89 — (117) (81) (1) — (275) (92) — Fortitude Re funds withheld payable 2,206 (2,776) — (68) — — — (638) 2,836 — Total $ 10,071 $ (4,009) $ — $ 64 $ (81) $ (1) $ — $ 6,044 $ 4,113 $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Three Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,896 $ 5 $ 128 $ (65) $ — $ (25) $ — $ 1,939 $ — $ 244 Non-U.S. governments 6 — (1) 1 4 — — 10 — — Corporate debt 2,570 14 17 31 208 (67) — 2,773 — 50 RMBS 11,464 150 (39) (460) — (30) — 11,085 — 957 CMBS 1,104 7 23 85 — (137) — 1,082 — 18 CDO/ABS 9,602 (1) 44 (374) 384 (337) — 9,318 — 403 Total bonds available for sale 26,642 175 172 (782) 596 (596) — 26,207 — 1,672 Other bond securities: RMBS 126 1 — (14) — — — 113 12 — CMBS 46 — — — — — — 46 6 — CDO/ABS 2,346 45 — (112) — — — 2,279 253 — Total other bond securities 2,518 46 — (126) — — — 2,438 271 — Equity securities 128 — (3) (112) 1 (10) — 4 — — Other invested assets 1,897 114 (1) 89 — — — 2,099 122 — Other assets 113 — — — — — — 113 — — Total $ 31,298 $ 335 $ 168 $ (931) $ 597 $ (606) $ — $ 30,861 $ 393 $ 1,672 (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Unrealized Gains (Losses) Included in Liabilities: Policyholder contract deposits $ 7,617 $ 1,363 $ — $ 40 $ — $ — $ — $ 9,020 $ (1,018) $ — Derivative liabilities, net: Interest rate contracts — (2) — 1 — — — (1) 1 — Foreign exchange contracts — — — (1) — — — (1) (1) — Equity contracts (222) (71) — (69) — 5 — (357) 85 — Credit contracts 44 2 — (3) — — — 43 (1) — Other contracts (9) (16) — 15 — — — (10) 17 — Total derivative liabilities, net (a) (187) (87) — (57) — 5 — (326) 101 — Fortitude Re funds withheld payable 3,487 2,056 — (226) — — — 5,317 (1,452) — Total $ 10,917 $ 3,332 $ — $ (243) $ — $ 5 $ — $ 14,011 $ (2,369) $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,431 $ 2 $ (428) $ (65) $ 17 $ — $ — $ 957 $ — $ (410) Non-U.S. governments 7 — — — 2 — — 9 — — Corporate debt 2,641 (26) (151) (37) 382 (326) — 2,483 — (137) RMBS 10,378 222 (943) (874) — (431) — 8,352 — (925) CMBS 1,190 13 (113) 117 — (336) — 871 — (108) CDO/ABS 11,215 19 (1,003) 1,651 1,464 (1,650) — 11,696 — (1,003) Total bonds available for sale 26,862 230 (2,638) 792 1,865 (2,743) — 24,368 — (2,583) Other bond securities: Corporate Debt 134 (4) — 124 222 (15) — 461 (4) — RMBS 196 (18) — 14 — — — 192 (21) — CMBS 35 (3) — — — — — 32 (3) — CDO/ABS 2,332 (249) — 352 63 (56) — 2,442 (162) — Total other bond securities 2,697 (274) — 490 285 (71) — 3,127 (190) — Equity securities 6 — — 6 — — — 12 — — Other invested assets 1,948 245 (27) (38) 47 (167) — 2,008 295 — Other assets 114 — — (7) — — — 107 — — Total $ 31,627 $ 201 $ (2,665) $ 1,243 $ 2,197 $ (2,981) $ — $ 29,622 $ 105 $ (2,583) (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End of Period Changes in Changes in Liabilities: Policyholder contract deposits $ 9,682 $ (3,119) $ — $ 394 $ — $ — $ — $ 6,957 $ 3,353 $ — Derivative liabilities, net: Interest rate contracts — 11 — (73) (81) — — (143) (10) — Foreign exchange contracts (1) 1 — 1 — — — 1 (1) — Equity contracts (444) 390 — (94) — (1) — (149) (247) — Credit contracts 30 2 — — — — — 32 (1) — Other contracts (13) (32) — 29 — — — (16) 32 — Total derivative liabilities, net (a) (428) 372 — (137) (81) (1) — (275) (227) — Fortitude Re funds withheld payable 5,922 (6,094) — (466) — — — (638) 6,316 — Total $ 15,176 $ (8,841) $ — $ (209) $ (81) $ (1) $ — $ 6,044 $ 9,442 $ — (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Six Months Ended June 30, 2021 Assets: Obligations of states, municipalities and political subdivisions $ 2,105 $ 8 $ (31) $ (118) $ — $ (25) $ — $ 1,939 $ — $ 234 Non-U.S. governments 5 — (1) 1 5 — — 10 — — Corporate debt 2,349 13 7 208 395 (199) — 2,773 — (109) RMBS 11,694 317 25 (891) — (60) — 11,085 — 943 CMBS 922 16 (33) 258 56 (137) — 1,082 — (38) CDO/ABS 9,814 15 30 (538) 838 (841) — 9,318 — 467 Total bonds available for sale 26,889 369 (3) (1,080) 1,294 (1,262) — 26,207 — 1,497 Other bond securities: RMBS 139 4 — (30) — — — 113 (86) — CMBS 47 (1) — (6) 6 — — 46 4 — CDO/ABS 2,512 34 — (267) — — — 2,279 255 — Total other bond securities 2,698 37 — (303) 6 — — 2,438 173 — Equity securities 51 11 — (123) 76 (11) — 4 3 — Other invested assets 1,827 256 (7) 23 — — — 2,099 245 — Other assets 113 — — — — — — 113 — — Total $ 31,578 $ 673 $ (10) $ (1,483) $ 1,376 $ (1,273) $ — $ 30,861 $ 421 $ 1,497 (in millions) Fair Value Beginning of Period Net Realized Other Comprehensive Income (Loss) Purchases, Gross Transfers In Gross Transfers Out Other Fair Value End Changes in Changes in Liabilities: Policyholder contract deposits $ 9,798 $ (897) $ — $ 119 $ — $ — $ — $ 9,020 $ 1,553 $ — Derivative liabilities, net: Interest rate contracts — (2) — 1 — — — (1) 2 — Foreign exchange contracts (2) 1 — — — — — (1) (1) — Equity contracts (151) (97) — (154) — 45 — (357) 13 — Credit contracts 42 7 — (6) — — — 43 (1) — Other contracts (8) (33) — 31 — — — (10) 33 — Total derivative liabilities, net(a) (119) (124) — (128) — 45 — (326) 46 — Fortitude Re funds withheld payable 6,042 (326) — (399) — — — 5,317 1,503 — Total $ 15,721 $ (1,347) $ — $ (408) $ — $ 45 $ — $ 14,011 $ 3,102 $ — (a) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. The following table presents the gross components of purchases, sales, issuances and settlements, net, shown above, for the three- and six-month periods ended June 30, 2022 and 2021 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets: (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ (4) $ — $ (4) Corporate debt 14 — (228) (214) RMBS 176 — (442) (266) CMBS 76 — 9 85 CDO/ABS 1,245 — (139) 1,106 Total bonds available for sale 1,511 (4) (800) 707 Other bond securities: Corporate debt 5 — 42 47 RMBS 14 — (9) 5 CDO/ABS 293 — (136) 157 Total other bond securities 312 — (103) 209 Equity securities 5 — — 5 Other invested assets 259 — (282) (23) Other assets — — (1) (1) Total $ 2,087 $ (4) $ (1,186) $ 897 Liabilities: Policyholder contract deposits $ — $ 250 $ (1) $ 249 Derivative liabilities, net (164) 1 46 (117) Fortitude Re funds withheld payable — — (68) (68) Total $ (164) $ 251 $ (23) $ 64 Three Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 3 $ (23) $ (45) $ (65) Non-U.S. governments 1 — — 1 Corporate debt 212 (32) (149) 31 RMBS 318 (115) (663) (460) CMBS 97 — (12) 85 CDO/ABS 780 119 (1,273) (374) Total bonds available for sale 1,411 (51) (2,142) (782) Other bond securities: RMBS 1 (9) (6) (14) CDO/ABS — — (112) (112) Total other bond securities 1 (9) (118) (126) Equity securities — (3) (109) (112) Other invested assets 194 — (105) 89 Total $ 1,606 $ (63) $ (2,474) $ (931) Liabilities: Policyholder contract deposits — 202 (162) 40 Derivative liabilities, net (71) 1 13 (57) Fortitude Re funds withheld payable — — (226) (226) Total $ (71) $ 203 $ (375) $ (243) (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (64) $ (2) $ (65) Corporate debt 23 — (60) (37) RMBS 285 — (1,159) (874) CMBS 146 — (29) 117 CDO/ABS 2,131 — (480) 1,651 Total bonds available for sale 2,586 (64) (1,730) 792 Other bond securities: Corporate debt 24 — 100 124 RMBS 31 — (17) 14 CDO/ABS 616 — (264) 352 Total other bond securities 671 — (181) 490 Equity securities 5 — 1 6 Other invested assets 517 — (555) (38) Other assets — — (7) (7) Total $ 3,779 $ (64) $ (2,472) $ 1,243 Liabilities: Policyholder contract deposits $ — $ 467 $ (73) $ 394 Derivative liabilities, net (249) 3 109 (137) Fortitude Re funds withheld payable — — (466) (466) Total $ (249) $ 470 $ (430) $ (209) Six Months Ended June 30, 2021 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 11 $ (43) $ (86) $ (118) Non-U.S. governments 1 — — 1 Corporate Debt 953 (33) (712) 208 RMBS 482 (115) (1,258) (891) CMBS 290 — (32) 258 CDO/ABS 1,156 70 (1,764) (538) Total bonds available for sale 2,893 (121) (3,852) (1,080) Other bond securities: RMBS 1 (9) (22) (30) CMBS — (6) — (6) CDO/ABS — (39) (228) (267) Total other bond securities 1 (54) (250) (303) Equity securities — (3) (120) (123) Other invested assets 392 — (369) 23 Total $ 3,286 $ (178) $ (4,591) $ (1,483) Liabilities: Policyholder contract deposits $ — 393 (274) 119 Derivative liabilities, net (123) 2 (7) (128) Fortitude Re funds withheld payable — — (399) (399) Total $ (123) $ 395 $ (680) $ (408) (a) There were no issuances during the three- and six-month periods ended June 30, 2022 and 2021.
Fair Value Measurement Inputs and Valuation Techniques	The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments, and includes only those instruments for which information about the inputs is reasonably available to us, such as data from independent third-party valuation service providers. Because input information from third-parties with respect to certain Level 3 instruments (primarily CDO/ABS) may not be reasonably available to us, balances shown below may not equal total amounts reported for such Level 3 assets and liabilities: (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Assets: Obligations of states, municipalities and political subdivisions $ 913 Discounted cash flow Yield 4.43% - 5.28% (4.86%) Corporate debt 2,346 Discounted cash flow Yield 2.86% - 10.40% (6.63%) RMBS (a) 5,843 Discounted cash flow Constant prepayment rate 4.89% - 9.89% (7.39%) Loss severity 44.26% - 76.00% (60.13%) Constant default rate 0.95% - 2.86% (1.91%) Yield 4.93% - 6.39% (5.66%) CDO/ABS (a) 9,064 Discounted cash flow Yield 4.54% - 7.20% (5.87%) CMBS 587 Discounted cash flow Yield 4.12% - 7.74% (5.93%) Liabilities (d) : Embedded derivatives within Policyholder contract deposits: Variable annuity guaranteed minimum withdrawal benefits (GMWB) 1,198 Discounted cash flow Equity volatility 5.85% - 46.15% Base lapse rate 0.16% - 12.60% Dynamic lapse multiplier 20.00% - 186.00% Mortality multiplier (e) 38.00% - 147.00% Utilization 90.00% - 100.00% Equity / interest rate correlation 20.00% - 40.00% NPA (f) 0.00% - 2.04% Fixed Index annuities including certain GMWB 5,130 Discounted cash flow Base lapse rate 0.50% - 50.00% Dynamic lapse multiplier 20.00% - 186.00% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 95.00% Option budget 0.00% - 4.00% NPA (f) 0.00% - 2.04% Indexed life 629 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 6.37% - 24.69% NPA (f) 0.00% - 2.04% (in millions) Fair Value at December 31, 2021 Valuation Unobservable Input (b) Range (Weighted Average) (c) Assets: Obligations of states, municipalities and political subdivisions $ 1,400 Discounted cash flow Yield 2.74% - 3.33% (3.06%) Corporate debt 1,561 Discounted cash flow Yield 2.23% - 7.69% (4.96%) RMBS (a) 9,916 Discounted cash flow Constant prepayment rate 5.25% - 17.70% (11.47%) Loss severity 26.13% - 71.93% (49.03%) Constant default rate 1.15% - 5.85% (3.50%) Yield 1.69% - 3.97% (2.83%) CDO/ABS (a) 8,229 Discounted cash flow Yield 1.84% - 4.77% (3.31%) CMBS 580 Discounted cash flow Yield 1.50% - 5.01% (3.25%) Liabilities (d) : Embedded derivatives within Policyholder contract deposits: GMWB 2,472 Discounted cash flow Equity volatility 5.95% - 46.65% Base lapse rate 0.16% - 12.60% Dynamic lapse multiplier 20.00% - 186.00% Mortality multiplier (e) 38.00% - 147.00% Utilization 90.00% - 100.00% Equity / interest rate correlation 20.00% - 40.00% NPA (f) 0.01% - 1.40% Fixed Index annuities including certain GMWB 6,445 Discounted cash flow Base lapse rate 0.50% - 50.00% Dynamic lapse multiplier 20.00% - 186.00% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 95.00% Option budget 0.00% - 4.00% NPA (f) 0.01% - 1.40% Indexed life 765 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 7.65% - 20.70% NPA (f) 0.01% - 1.40% (a) Information received from third-party valuation service providers. The ranges of the unobservable inputs for constant prepayment rate, loss severity and constant default rate relate to each of the individual underlying mortgage loans that comprise the entire portfolio of securities in the RMBS and CDO securitization vehicles and not necessarily to the securitization vehicle bonds (tranches) purchased by us. The ranges of these inputs do not directly correlate to changes in the fair values of the tranches purchased by us, because there are other factors relevant to the fair values of specific tranches owned by us including, but not limited to, purchase price, position in the waterfall, senior versus subordinated position and attachment points. (b) Represents discount rates, estimates and assumptions that we believe would be used by market participants when valuing these assets and liabilities. (c) The weighted averaging for fixed maturity securities is based on the estimated fair value of the securities. Because the valuation methodology for embedded derivatives within Policyholder contract deposits uses a range of inputs that vary at the contract level over the cash flow projection period, management believes that presenting a range, rather than weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (d) The Fortitude Re funds withheld payable has been excluded from the above table. As discussed in Note 7, the Fortitude Re funds withheld payable is created through modco and funds withheld reinsurance arrangements where the investments supporting the reinsurance agreements are withheld by, and continue to reside on AIG’s balance sheet. This embedded derivative is valued as a total return swap with reference to the fair value of the invested assets held by AIG. Accordingly, the unobservable inputs utilized in the valuation of the embedded derivative are a component of the invested assets supporting the reinsurance agreements that are held on AIG’s balance sheet. (e) Mortality inputs are shown as multipliers of the 2012 Individual Annuity Mortality Basic table. (f) The non-performance risk adjustment (NPA) applied as a spread over risk-free curve for discounting. (g) The partial withdrawal utilization unobservable input range shown applies only to policies with guaranteed minimum withdrawal benefit riders that are accounted for as an embedded derivative. The total embedded derivative liability at June 30, 2022 and December 31, 2021 was approximately $943 million and $1.2 billion, respectively. The remaining guaranteed minimum riders on the fixed index annuities are valued under the accounting guidance for certain nontraditional long-duration contracts.
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share	The following table includes information related to our investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments that calculate net asset value per share (or its equivalent). For these investments, which are measured at fair value on a recurring basis, we use the net asset value per share to measure fair value. June 30, 2022 December 31, 2021 (in millions) Investment Category Includes Fair Value Using NAV Per Share (or its equivalent) Unfunded Commitments Fair Value Using NAV Per Share (or its equivalent) Unfunded Commitments Investment Category Private equity funds: Leveraged buyout Debt and/or equity investments made as part of a transaction in which assets of mature companies are acquired from the current shareholders, typically with the use of financial leverage $ 3,116 $ 2,147 $ 2,768 $ 1,798 Real assets Investments in real estate properties, agricultural and infrastructure assets, including power plants and other energy producing assets 1,694 593 904 487 Venture capital Early-stage, high-potential, growth companies expected to generate a return through an eventual realization event, such as an initial public offering or sale of the company 262 202 252 201 Growth equity Funds that make investments in established companies for the purpose of growing their businesses 829 71 914 82 Mezzanine Funds that make investments in the junior debt and equity securities of leveraged companies 545 290 534 354 Other Includes distressed funds that invest in securities of companies that are in default or under bankruptcy protection, as well as funds that have multi- strategy, and other strategies 1,555 338 1,216 408 Total private equity funds 8,001 3,641 6,588 3,330 Hedge funds: Event-driven Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations 355 — 466 — Long-short Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk 428 — 432 — Macro Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions 432 — 516 — Other Includes investments held in funds that are less liquid, as well as other strategies which allow for broader allocation between public and private investments 354 5 416 — Total hedge funds 1,569 5 1,830 — Total $ 9,570 $ 3,646 $ 8,418 $ 3,330
Fair Value Option	The following table presents the gains or losses recorded related to the eligible instruments for which we elected the fair value option: Gain (Loss) Three Months Ended June 30, Gain (Loss) Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Assets: Other bond securities (a) $ (175) $ 96 $ (376) $ (3) Alternative investments (b) (167) 428 231 845 Liabilities: Long-term debt (c) 68 (38) 171 33 Total gain (loss) $ (274) $ 486 $ 26 $ 875 (a) Includes certain securities supporting the funds withheld arrangements with Fortitude Re. For additional information regarding the gains and losses for Other bond securities, see Note 5. For additional information regarding the funds withheld arrangements with Fortitude Re, see Note 7. (b) Includes certain hedge funds, private equity funds and other investment partnerships. (c) Includes guaranteed investment agreements (GIAs), notes, bonds and mortgages payable. The following table presents the difference between fair value and the aggregate contractual principal amount of long-term debt for which the fair value option was elected: June 30, 2022 December 31, 2021 (in millions) Fair Value Outstanding Principal Amount Difference Fair Value Outstanding Principal Amount Difference Liabilities: Long-term debt* $ 1,664 $ 1,404 $ 260 $ 1,871 $ 1,405 $ 466 • Includes GIAs, notes, bonds, loans and mortgages payable.
Fair Value Measurements, Nonrecurring	The following table presents assets measured at fair value on a non-recurring basis at the time of impairment and the related impairment charges recorded during the periods presented: Assets at Fair Value Impairment Charges Non-Recurring Basis Three Months Ended June 30, Six Months Ended June 30, (in millions) Level 1 Level 2 Level 3 Total 2022 2021 2022 2021 June 30, 2022 Other investments $ — $ — $ — $ — $ — $ — $ — $ 6 Total $ — $ — $ — $ — $ — $ — $ — $ 6 December 31, 2021 Other investments $ — $ — $ 104 $ 104 Total $ — $ — $ 104 $ 104
Fair Value, by Balance Sheet Grouping	The following table presents the carrying amounts and estimated fair values of our financial instruments not measured at fair value and indicates the level in the fair value hierarchy of the estimated fair value measurement based on the observability of the inputs used: Estimated Fair Value Carrying (in millions) Level 1 Level 2 Level 3 Total June 30, 2022 Assets: Mortgage and other loans receivable $ — $ 59 $ 47,287 $ 47,346 $ 49,205 Other invested assets — 833 6 839 839 Short-term investments — 6,015 — 6,015 6,015 Cash 2,378 — — 2,378 2,378 Other assets 57 12 — 69 69 Liabilities: Policyholder contract deposits associated with investment-type contracts — 142 141,719 141,861 135,820 Fortitude Re funds withheld payable — — 33,608 33,608 33,608 Other liabilities — 3,481 — 3,481 3,481 Long-term debt — 19,175 295 19,470 20,522 Debt of consolidated investment entities — 3,078 3,000 6,078 6,252 Separate account liabilities - investment contracts — 82,317 — 82,317 82,317 December 31, 2021 Assets: Mortgage and other loans receivable $ — $ 82 $ 47,947 $ 48,029 $ 46,033 Other invested assets — 871 6 877 878 Short-term investments — 8,931 — 8,931 8,931 Cash 2,198 — — 2,198 2,198 Other assets 21 11 — 32 32 Liabilities: Policyholder contract deposits associated with investment-type contracts — 169 142,974 143,143 133,043 Fortitude Re funds withheld payable — — 34,849 34,849 34,849 Other liabilities — 3,704 — 3,704 3,704 Long-term debt — 24,758 336 25,094 21,870 Debt of consolidated investment entities — 3,077 3,313 6,390 6,422 Separate account liabilities - investment contracts — 104,126 — 104,126 104,126

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost and Fair Value of Available For Sale Securities	The following table presents the amortized cost and fair value of our available for sale securities: (in millions) Amortized Cost Allowance for Credit Losses (a) Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2022 Bonds available for sale: U.S. government and government sponsored entities $ 8,524 $ — $ 48 $ (426) $ 8,146 Obligations of states, municipalities and political subdivisions 13,013 — 256 (669) 12,600 Non-U.S. governments 15,065 (71) 123 (1,443) 13,674 Corporate debt 158,714 (77) 1,724 (17,620) 142,741 Mortgage-backed, asset-backed and collateralized: RMBS 20,060 (26) 1,125 (986) 20,173 CMBS 15,740 — 67 (920) 14,887 CDO/ABS 21,761 (1) 34 (1,280) 20,514 Total mortgage-backed, asset-backed and collateralized 57,561 (27) 1,226 (3,186) 55,574 Total bonds available for sale (b) $ 252,877 $ (175) $ 3,377 $ (23,344) $ 232,735 December 31, 2021 Bonds available for sale: U.S. government and government sponsored entities $ 7,874 $ — $ 347 $ (27) $ 8,194 Obligations of states, municipalities and political subdivisions 12,760 — 1,782 (15) 14,527 Non-U.S. governments 15,858 — 719 (247) 16,330 Corporate debt 163,064 (89) 13,892 (1,259) 175,608 Mortgage-backed, asset-backed and collateralized: RMBS 25,027 (9) 2,422 (153) 27,287 CMBS 15,333 — 555 (79) 15,809 CDO/ABS 19,294 — 276 (123) 19,447 Total mortgage-backed, asset-backed and collateralized 59,654 (9) 3,253 (355) 62,543 Total bonds available for sale (b) $ 259,210 $ (98) $ 19,993 $ (1,903) $ 277,202 (a) Represents the allowance for credit losses that has been recognized. Changes in the allowance for credit losses are recorded through Net realized gains (losses) and are not recognized in Other comprehensive income (loss). (b) At June 30, 2022 and December 31, 2021, bonds available for sale held by us that were below investment grade or not rated totaled $22.9 billion or 10 percent and $27.0 billion or 10 percent, respectively.
Schedule of Unrealized Loss on Investments	The following table summarizes the fair value and gross unrealized losses on our available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position for which no allowance for credit loss has been recorded: Less than 12 Months 12 Months or More Total (in millions) Fair Gross Fair Gross Fair Gross June 30, 2022 Bonds available for sale: U.S. government and government sponsored entities $ 6,962 $ 387 $ 439 $ 39 $ 7,401 $ 426 Obligations of states, municipalities and political subdivisions 6,802 641 99 28 6,901 669 Non-U.S. governments 9,110 988 1,658 455 10,768 1,443 Corporate debt 109,879 15,019 10,125 2,588 120,004 17,607 RMBS 10,351 809 914 123 11,265 932 CMBS 13,057 893 230 27 13,287 920 CDO/ABS 18,433 1,211 696 69 19,129 1,280 Total bonds available for sale $ 174,594 $ 19,948 $ 14,161 $ 3,329 $ 188,755 $ 23,277 December 31, 2021 Bonds available for sale: U.S. government and government sponsored entities $ 3,696 $ 14 $ 447 $ 13 $ 4,143 $ 27 Obligations of states, municipalities and political subdivisions 714 11 57 4 771 15 Non-U.S. governments 4,644 115 1,324 132 5,968 247 Corporate debt 31,914 720 8,819 467 40,733 1,187 RMBS 5,362 102 1,154 46 6,516 148 CMBS 3,980 63 153 16 4,133 79 CDO/ABS 8,263 112 339 11 8,602 123 Total bonds available for sale $ 58,573 $ 1,137 $ 12,293 $ 689 $ 70,866 $ 1,826
Investments Classified by Contractual Maturity Date	The following table presents the amortized cost and fair value of fixed maturity securities available for sale by contractual maturity: Total Fixed Maturity Securities (in millions) Amortized Cost, Fair Value June 30, 2022 Due in one year or less $ 7,507 $ 7,478 Due after one year through five years 49,832 48,172 Due after five years through ten years 44,844 41,309 Due after ten years 92,985 80,202 Mortgage-backed, asset-backed and collateralized 57,534 55,574 Total $ 252,702 $ 232,735
Realized Gain (Loss) on Investments	The following table presents the gross realized gains and gross realized losses from sales or maturities of our available for sale securities: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in millions) Gross Realized Gains Gross Realized Losses Gross Realized Gains Gross Realized Losses Gross Realized Gains Gross Realized Losses Gross Realized Gains Gross Realized Losses Fixed maturity securities $ 186 $ 790 $ 290 $ 155 $ 283 $ 1,026 $ 750 $ 226 The following table presents the components of Net realized gains (losses): Three Months Ended June 30, 2022 2021 (in millions) Excluding Fortitude Re Total Excluding Fortitude Re Total Sales of fixed maturity securities $ (482) $ (122) $ (604) $ 40 $ 95 $ 135 Change in allowance for credit losses on fixed maturity securities (47) (1) (48) 10 4 14 Change in allowance for credit losses on loans 24 6 30 67 8 75 Foreign exchange transactions (231) (15) (246) 139 9 148 Variable annuity embedded derivatives, net of related hedges 454 — 454 (53) — (53) All other derivatives and hedge accounting 970 48 1,018 (336) 60 (276) Sales of alternative investments and real estate investments 7 2 9 31 (3) 28 Other 7 (4) 3 59 — 59 Net realized gains (losses) – excluding Fortitude Re funds withheld embedded derivative 702 (86) 616 (43) 173 130 Net realized gains (losses) on Fortitude Re funds withheld embedded derivative — 2,776 2,776 — (2,056) (2,056) Net realized gains (losses) $ 702 $ 2,690 $ 3,392 $ (43) $ (1,883) $ (1,926) Six Months Ended June 30, 2022 2021 (in millions) Excluding Fortitude Re Funds Withheld Assets Fortitude Re Funds Withheld Assets Total Excluding Fortitude Re Total Sales of fixed maturity securities $ (589) $ (154) $ (743) $ 134 $ 390 $ 524 Change in allowance for credit losses on fixed maturity securities (100) (41) (141) 61 6 67 Change in allowance for credit losses on loans 5 (2) 3 108 3 111 Foreign exchange transactions (245) (24) (269) 90 3 93 Variable annuity embedded derivatives, net of related hedges 960 — 960 36 — 36 All other derivatives and hedge accounting 1,909 (8) 1,901 15 (57) (42) Sales of alternative investments and real estate investments 23 3 26 57 1 58 Other (20) — (20) 151 — 151 Net realized gains (losses) – excluding Fortitude Re funds withheld embedded derivative 1,943 (226) 1,717 652 346 998 Net realized gains on Fortitude Re funds withheld embedded derivative — 6,094 6,094 — 326 326 Net realized gains $ 1,943 $ 5,868 $ 7,811 $ 652 $ 672 $ 1,324
Debt Securities, Trading, and Equity Securities, FV-NI	The following table presents the fair value of fixed maturity securities measured at fair value based on our election of the fair value option, which are reported in the other bond securities caption in the financial statements, and equity securities measured at fair value: (in millions) June 30, 2022 December 31, 2021 Fair Percent Fair Percent Fixed maturity securities: U.S. government and government sponsored entities $ 1,620 22 % $ 1,750 25 % Obligations of states, municipalities and political subdivisions 99 1 97 1 Non-U.S. governments 76 1 76 1 Corporate debt 1,661 22 1,050 15 Mortgage-backed, asset-backed and collateralized: RMBS 294 4 411 6 CMBS 321 4 315 4 CDO/ABS and other collateralized 2,827 38 2,579 37 Total mortgage-backed, asset-backed and collateralized 3,442 46 3,305 47 Total fixed maturity securities 6,898 92 6,278 89 Equity securities 629 8 739 11 Total $ 7,527 100 % $ 7,017 100 %
Schedule Of Other Invested Assets	The following table summarizes the carrying amount of other invested assets: (in millions) June 30, 2022 December 31, 2021 Alternative investments (a)(b) $ 11,520 $ 10,951 Investment real estate (c) 2,565 2,727 All other investments (d) 1,955 1,990 Total $ 16,040 $ 15,668 (a) At June 30, 2022, included hedge funds of $1.6 billion and private equity funds of $9.9 billion. At December 31, 2021, included hedge funds of $2.0 billion, private equity funds of $8.9 billion. (b) At June 30, 2022, approximately 58 percent of our hedge fund portfolio is available for redemption in 2022. The remaining 42 percent will be available for redemption between 2023 and 2028. (c) Represents values net of accumulated depreciation. At June 30, 2022 and December 31, 2021, the accumulated depreciation was $813 million and $778 million, respectively. (d) Includes AIG's ownership interest in Fortitude Group Holdings, LLC (FRL), which is recorded using the measurement alternative for equity securities. Our investment in FRL totaled $156 million and $100 million at June 30, 2022 and December 31, 2021, respectively.
Investment Income	The following table presents the components of Net investment income: Three Months Ended June 30, 2022 2021 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 2,147 $ 267 $ 2,414 $ 2,130 $ 361 $ 2,491 Other fixed maturity securities (a) (175) (180) (355) 93 6 99 Equity securities (30) — (30) (13) — (13) Interest on mortgage and other loans 460 51 511 446 57 503 Alternative investments (b) 109 56 165 579 92 671 Real estate 32 — 32 57 — 57 Other investments (c) 37 3 40 (19) 1 (18) Total investment income 2,580 197 2,777 3,273 517 3,790 Investment expenses 164 9 173 105 10 115 Net investment income $ 2,416 $ 188 $ 2,604 $ 3,168 $ 507 $ 3,675 Six Months Ended June 30, 2022 2021 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 4,188 $ 568 $ 4,756 $ 4,308 $ 738 $ 5,046 Other fixed maturity securities (a) (376) (298) (674) (9) 6 (3) Equity securities (57) — (57) 9 — 9 Interest on mortgage and other loans 913 97 1,010 860 104 964 Alternative investments (b) 778 127 905 1,151 161 1,312 Real estate 32 — 32 116 — 116 Other investments (c) 194 3 197 121 2 123 Total investment income 5,672 497 6,169 6,556 1,011 7,567 Investment expenses 310 18 328 217 18 235 Net investment income $ 5,362 $ 479 $ 5,841 $ 6,339 $ 993 $ 7,332 (a) Included in the three- and six-month periods ended June 30, 2022 were income (loss) of $(55) million and $(151) million, respectively, related to fixed maturity securities measured at fair value that economically hedge liabilities described in (c) below. Included in the three- and six-month periods ended June 30, 2021 were income (loss) of $35 million and $(46) million, respectively, related to fixed maturity securities measured at fair value that economically hedge liabilities described in (c) below. (b) Included income from hedge funds, private equity funds and affordable housing partnerships. Hedge funds are recorded as of the balance sheet date. Private equity funds are generally reported on a one-quarter lag.
Unrealized Gain (Loss) on Investments	The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (17,897) $ 5,851 $ (38,057) $ (5,798) Other investments (7) (5) (14) (5) Total increase (decrease) in unrealized appreciation (depreciation) of investments $ (17,904) $ 5,846 $ (38,071) $ (5,803) The following table summarizes the unrealized gains and losses recognized in Net investment income during the reporting period on equity securities and other investments still held at the reporting date: Three Months Ended June 30, 2022 2021 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ (30) $ (71) $ (101) $ (13) $ 543 $ 530 Less: Net losses recognized during the period on equity securities and other investments sold during the period (1) (33) (34) (179) (9) (188) Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ (29) $ (38) $ (67) $ 166 $ 552 $ 718 Six Months Ended June 30, 2022 2021 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ (57) $ 404 $ 347 $ 9 $ 1,013 $ 1,022 Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period 93 (36) 57 (200) 15 (185) Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ (150) $ 440 $ 290 $ 209 $ 998 $ 1,207
Debt Securities, Available-for-sale, Allowance for Credit Loss	The following table presents a rollforward of the changes in allowance for credit losses on available for sale fixed maturity securities by major investment category: Three Months Ended June 30, 2022 2021 (in millions) Structured Non-Structured Total Structured Non- Total Balance, beginning of period $ 15 $ 176 $ 191 $ 14 $ 108 $ 122 Additions: Securities for which allowance for credit losses were not previously recorded 2 28 30 6 15 21 Reductions: Securities sold during the period (1) (40) (41) (2) (3) (5) Addition to (release of) the allowance for credit losses on securities that had an allowance recorded in a previous period, for which there was no intent to sell before recovery of amortized cost basis 10 8 18 (8) (27) (35) Write-offs charged against the allowance — (22) (22) — (6) (6) Other — (1) (1) — — — Balance, end of period $ 26 $ 149 $ 175 $ 10 $ 87 $ 97 Six Months Ended June 30, 2022 2021 (in millions) Structured Non-Structured Total Structured Non- Total Balance, beginning of period $ 8 $ 90 $ 98 $ 17 $ 169 $ 186 Additions: Securities for which allowance for credit losses were not previously recorded 51 156 207 8 28 36 Reductions: Securities sold during the period (1) (41) (42) (3) (7) (10) Addition to (release of) the allowance for credit losses on securities that had an allowance recorded in a previous period, for which there was no intent to sell before recovery of amortized cost basis (32) (34) (66) (12) (91) (103) Write-offs charged against the allowance — (22) (22) — (12) (12) Other — — — — — — Balance, end of period $ 26 $ 149 $ 175 $ 10 $ 87 $ 97
Schedule of Financial Instruments Owned and Pledged as Collateral	The following table presents the fair value of securities pledged to counterparties under secured financing transactions, including repurchase and securities lending agreements: (in millions) June 30, 2022 December 31, 2021 Fixed maturity securities available for sale $ 2,937 $ 3,583 The following table presents the fair value of securities pledged under our repurchase agreements by collateral type and by remaining contractual maturity: Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 31 - 90 91 - 364 365 days or greater Total June 30, 2022 Bonds available for sale: Non-U.S. governments $ 42 $ — $ — $ — $ — $ 42 Corporate debt 219 61 — — — 280 Total $ 261 $ 61 $ — $ — $ — $ 322 December 31, 2021 Bonds available for sale: Non-U.S. governments $ 48 $ — $ — $ — $ — $ 48 Corporate debt 128 61 22 — — 211 Total $ 176 $ 61 $ 22 $ — $ — $ 259 The following table presents the fair value of securities pledged under our securities lending agreements by collateral type and by remaining contractual maturity: Remaining Contractual Maturity of the Agreements (in millions) Overnight and Continuous up to 31 - 90 91 - 364 365 days or greater Total June 30, 2022 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ 197 $ — $ — $ — $ 197 Non-U.S. governments — 457 13 — — 470 Corporate debt — 1,816 132 — — 1,948 Other bond securities: Non-U.S. governments — — — — — — Corporate debt — — — — — — Total $ — $ 2,470 $ 145 $ — $ — $ 2,615 December 31, 2021 Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ — $ 106 $ — $ — $ 106 Non-U.S. governments — — 43 — — 43 Corporate debt — 534 2,641 — — 3,175 Total $ — $ 534 $ 2,790 $ — $ — $ 3,324 The following table presents information on the fair value of securities pledged to us under reverse repurchase agreements: (in millions) June 30, 2022 December 31, 2021 Securities collateral pledged to us $ 411 $ 1,839

Lending Activities (Tables)

Lending Activities (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Composition of Mortgages and Other Loans Receivable	(in millions) June 30, 2022 December 31, 2021 Commercial mortgages (a) $ 37,205 $ 35,665 Residential mortgages 5,720 5,492 Life insurance policy loans 1,787 1,843 Commercial loans, other loans and notes receivable (b) 5,205 3,677 Total mortgage and other loans receivable 49,917 46,677 Allowance for credit losses (c) (603) (629) Mortgage and other loans receivable, net $ 49,314 $ 46,048 (a) Commercial mortgages primarily represent loans for apartments, offices and retail properties, with exposures in New York and California representing the largest geographic concentrations (aggregating approximately 20 percent and 12 percent, respectively, at June 30, 2022 and 21 percent and 10 percent, respectively, at December 31, 2021). (b) Includes loans held for sale which are carried at lower of cost or market and are collateralized primarily by apartments. As of June 30, 2022 and December 31, 2021, the net carrying value of these loans were $186 million and $15 million, respectively. (c) Does not include allowance for credit losses of $89 million and $71 million, respectively, at June 30, 2022 and December 31, 2021, in relation to off-balance-sheet commitments to fund commercial mortgage loans, which is recorded in Other liabilities.
Credit Quality	The following table presents debt service coverage ratios (a) for commercial mortgages by year of vintage: June 30, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) >1.2X $ 3,687 $ 2,347 $ 1,671 $ 5,032 $ 4,002 $ 13,827 $ 30,566 1.00 - 1.20X 174 654 992 553 1,137 1,214 4,724 <1.00X — — 23 71 613 1,208 1,915 Total commercial mortgages $ 3,861 $ 3,001 $ 2,686 $ 5,656 $ 5,752 $ 16,249 $ 37,205 December 31, 2021 2021 2020 2019 2018 2017 Prior Total (in millions) >1.2X $ 2,245 $ 1,662 $ 5,126 $ 3,926 $ 3,557 $ 10,796 $ 27,312 1.00 - 1.20X 574 1,019 700 1,138 136 1,929 5,496 <1.00X 1 27 71 925 41 1,792 2,857 Total commercial mortgages $ 2,820 $ 2,708 $ 5,897 $ 5,989 $ 3,734 $ 14,517 $ 35,665 The following table presents loan-to-value ratios (b) for commercial mortgages by year of vintage: June 30, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) Less than 65% $ 3,330 $ 2,408 $ 2,227 $ 3,960 $ 4,560 $ 11,210 $ 27,695 65% to 75% 531 447 398 1,659 1,162 3,455 7,652 76% to 80% — 114 — — 30 468 612 Greater than 80% — 32 61 37 — 1,116 1,246 Total commercial mortgages $ 3,861 $ 3,001 $ 2,686 $ 5,656 $ 5,752 $ 16,249 $ 37,205 December 31, 2021 2021 2020 2019 2018 2017 Prior Total (in millions) Less than 65% $ 2,286 $ 2,272 $ 4,149 $ 4,815 $ 2,892 $ 9,902 $ 26,316 65% to 75% 372 410 1,748 1,174 406 3,490 7,600 76% to 80% — — — — 188 274 462 Greater than 80% 162 26 — — 248 851 1,287 Total commercial mortgages $ 2,820 $ 2,708 $ 5,897 $ 5,989 $ 3,734 $ 14,517 $ 35,665 (a) The debt service coverage ratio compares a property’s net operating income to its debt service payments, including principal and interest. Our weighted average debt service coverage ratio was 1.9X at both June 30, 2022 and December 31, 2021. The debt service coverage ratios have been updated within the last three months. The debt service coverage ratios are updated when additional relevant information becomes available. (b) The loan-to-value ratio compares the current unpaid principal balance of the loan to the estimated fair value of the underlying property collateralizing the loan. Our weighted average loan-to-value ratio was 57 percent at June 30, 2022 and was 57 percent at December 31, 2021. The loan-to-value ratios have been updated within the last three months. The following table presents the credit quality performance indicators for commercial mortgages: Number Class Percent (dollars in millions) Apartments Offices Retail Industrial Hotel Others Total June 30, 2022 Credit Quality Performance Indicator: In good standing 631 $ 13,706 $ 10,513 $ 4,290 $ 5,505 $ 2,055 $ 393 $ 36,462 98 % Restructured (a) 10 — 353 140 — 137 — 630 2 90 days or less delinquent — — — — — — — — — >90 days delinquent or in process of foreclosure 3 — 65 48 — — — 113 — Total (b) 644 $ 13,706 $ 10,931 $ 4,478 $ 5,505 $ 2,192 $ 393 $ 37,205 100 % Allowance for credit losses $ 88 $ 230 98 67 33 9 $ 525 1 % December 31, 2021 Credit Quality Performance Indicator: In good standing 636 $ 14,267 $ 9,695 $ 4,778 $ 3,858 $ 1,985 $ 432 $ 35,015 98 % Restructured (a) 8 — 354 25 — 136 — 515 2 90 days or less delinquent — — — — — — — — — >90 days delinquent or in process of foreclosure 5 — 81 54 — — — 135 — Total (b) 649 $ 14,267 $ 10,130 $ 4,857 $ 3,858 $ 2,121 $ 432 $ 35,665 100 % Allowance for credit losses $ 109 $ 247 $ 103 $ 47 $ 31 $ 8 $ 545 2 % (a) Loans that have been modified in troubled debt restructurings and are performing according to their restructured terms. For additional discussion of troubled debt restructurings see Note 6 to the Consolidated Financial Statements in the 2021 Annual Report. (b) Does not reflect allowance for credit losses. The following table presents credit quality performance indicators for residential mortgages by year of vintage: June 30, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) FICO*: 780 and greater $ 199 $ 2,266 $ 674 $ 243 $ 83 $ 596 $ 4,061 720 - 779 200 752 174 78 33 177 1,414 660 - 719 8 82 29 16 10 66 211 600 - 659 — 4 2 2 2 16 26 Less than 600 — — — 1 — 7 8 Total residential mortgages $ 407 $ 3,104 $ 879 $ 340 $ 128 $ 862 $ 5,720 December 31, 2021 2021 2020 2019 2018 2017 Prior Total (in millions) FICO*: 780 and greater $ 1,601 $ 691 $ 297 $ 107 $ 192 $ 501 $ 3,389 720 - 779 1,306 230 86 44 58 154 1,878 660 - 719 48 42 22 12 20 49 193 600 - 659 1 1 2 3 2 12 21 Less than 600 — — 1 1 2 7 11 Total residential mortgages $ 2,956 $ 964 $ 408 $ 167 $ 274 $ 723 $ 5,492 * Fair Isaac Corporation (FICO) is the credit quality indicator used to evaluate consumer credit risk for residential mortgage loan borrowers and have been updated within the last twelve months.
Allowance for Credit Loss	The following table presents a rollforward of the changes in the allowance for credit losses on Mortgage and other loans receivable (a) : Three Months Ended June 30, 2022 2021 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of period $ 533 $ 84 $ 617 $ 662 $ 125 $ 787 Loans charged off — — — — — — Net charge-offs — — — — — — Addition to (release of) allowance for loan losses (8) (6) (14) (75) (11) (86) Allowance, end of period $ 525 $ 78 $ 603 $ 587 $ 114 $ 701 Six Months Ended June 30, 2022 2021 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of year $ 545 $ 84 $ 629 $ 685 $ 129 $ 814 Loans charged off (4) — (4) — — — Net charge-offs (4) — (4) — — — Addition to (release of) allowance for loan losses (16) (6) (22) (98) (15) (113) Allowance, end of period $ 525 $ 78 $ 603 $ 587 $ 114 $ 701 (a) Does not include allowance for credit losses of $89 million and $81 million, respectively, at June 30, 2022 and 2021 in relation to off-balance-sheet commitments to fund commercial mortgage loans, which is recorded in Other liabilities.

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Summary of Assets Supporting Funds Withheld Arrangements	There is a diverse pool of assets supporting the funds withheld arrangements with Fortitude Re. The following summarizes the composition of the pool of assets: June 30, 2022 December 31, 2021 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 21,982 $ 21,982 $ 31,815 $ 31,815 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 3,309 3,309 1,983 1,983 Fair value through net investment income Commercial mortgage loans 4,126 4,010 3,637 3,859 Amortized cost Real estate investments 168 422 201 395 Amortized cost Private equity funds / hedge funds 1,794 1,794 1,606 1,606 Fair value through net investment income Policy loans 364 364 380 380 Amortized cost Short-term investments 135 135 50 50 Fair value through net investment income Funds withheld investment assets 31,878 32,016 39,672 40,088 Derivative assets, net (b) 94 94 81 81 Fair value through net realized gains (losses) Other (c) 860 860 602 602 Amortized cost Total $ 32,832 $ 32,970 $ 40,355 $ 40,771 (a) The change in the net unrealized gains (losses) on available for sale securities related to the Fortitude Re funds withheld assets was $(6.1) billion ($(4.8) billion after-tax) and $(1.6) billion ($(1.3) billion after-tax), respectively for the six months ended June 30, 2022 and 2021. (b) The derivative assets and liabilities have been presented net of cash collateral. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $369 million and $20 million, respectively, as of June 30, 2022. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $389 million and $10 million, respectively, as of December 31, 2021. These derivative assets and liabilities are fully collateralized either by cash or securities. (c) Primarily comprised of Cash and Accrued investment income.
Summary of The Impact of Funds Withheld Arrangements	The impact of the funds withheld arrangements with Fortitude Re was as follows: Three Months Ended Six Months Ended (in millions) 2022 2021 2022 2021 Net underwriting income $ — $ — $ — $ — Net investment income - Fortitude Re funds withheld assets 188 507 479 993 Net realized gains (losses) on Fortitude Re funds withheld assets: Net realized gains (losses) - Fortitude Re funds withheld assets (86) 173 (226) 346 Net realized gains (losses) - Fortitude Re embedded derivatives 2,776 (2,056) 6,094 326 Net realized gains (losses) on Fortitude Re funds withheld assets 2,690 (1,883) 5,868 672 Income (loss) from continuing operations before income tax expense (benefit) 2,878 (1,376) 6,347 1,665 Income tax expense (benefit) 605 (289) 1,333 350 Income tax expense (benefit) (a) 2,273 (1,087) 5,014 1,315 Change in unrealized appreciation (depreciation) of all other investments (a) (2,156) 1,055 (4,794) (1,285) Comprehensive income (loss) $ 117 $ (32) $ 220 $ 30 (a) The income tax expense (benefit) and the tax impact in AOCI was computed using AIG’s U.S. statutory tax rate of 21 percent.
Reinsurance Recoverable, Allowance for Credit Loss	The following table presents a rollforward of the reinsurance recoverable allowance : Three Months Ended June 30, 2022 2021 (in millions) General Insurance Life and Retirement Total General Insurance Life and Retirement Total Balance, beginning of period $ 286 $ 105 $ 391 $ 291 $ 87 $ 378 Addition to (release of) allowance for expected credit losses and disputes, net (4) 2 (2) (1) — (1) Write-offs charged against the allowance for credit losses and disputes — — — (3) — (3) Recoveries of amounts previously written off 2 — 2 — — — Other changes — — — — — — Balance, end of period $ 284 $ 107 $ 391 $ 287 $ 87 $ 374 Six Months Ended June 30, 2022 2021 (in millions) General Insurance Life and Retirement Total General Insurance Life and Retirement Total Balance, beginning of year $ 281 $ 101 $ 382 $ 292 $ 83 $ 375 Addition to (release of) allowance for expected credit losses and disputes, net 1 6 7 — 4 4 Write-offs charged against the allowance for credit losses and disputes (2) — (2) (7) — (7) Recoveries of amounts previously written off 2 — 2 — — — Other changes 2 — 2 2 — 2 Balance, end of period $ 284 $ 107 $ 391 $ 287 $ 87 $ 374

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table presents the total assets and total liabilities associated with our variable interests in consolidated VIEs, as classified in the Condensed Consolidated Balance Sheets: (in millions) Real Estate and Investment Entities (d) Securitization Vehicles Total June 30, 2022 Assets: Bonds available for sale $ — $ 5,359 $ 5,359 Other bond securities — 1,442 1,442 Equity securities 55 — 55 Mortgage and other loans receivable — 2,320 2,320 Other invested assets Alternative investments (a) 2,901 — 2,901 Investment real estate 2,145 — 2,145 Short-term investments 245 142 387 Cash 86 — 86 Accrued investment income — 17 17 Other assets 165 97 262 Total (b) $ 5,597 $ 9,377 $ 14,974 Liabilities: Debt of consolidated investment entities $ 1,633 $ 4,431 $ 6,064 Other (c) 107 42 149 Total $ 1,740 $ 4,473 $ 6,213 December 31, 2021 Assets: Bonds available for sale $ — $ 5,543 $ 5,543 Other bond securities — 1,852 1,852 Equity securities 223 — 223 Mortgage and other loans receivable — 2,523 2,523 Other invested assets Alternative investments (a) 3,017 — 3,017 Investment real estate 2,257 — 2,257 Short-term investments 487 151 638 Cash 96 — 96 Accrued investment income — 17 17 Other assets 190 558 748 Total (b) $ 6,270 $ 10,644 $ 16,914 Liabilities: Debt of consolidated investment entities $ 1,743 $ 4,504 $ 6,247 Other (c) 122 722 844 Total $ 1,865 $ 5,226 $ 7,091 (a) Comprised primarily of investments in real estate joint ventures at June 30, 2022 and December 31, 2021. (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities at June 30, 2022 and December 31, 2021. (d) At June 30, 2022 and December 31, 2021, off-balance sheet exposure primarily consisting of our insurance companies’ commitments to real estate and investment entities were $2.4 billion and $2.2 billion, respectively, of which commitments to external parties were $0.6 billion and $0.6 billion, respectively. The following table presents total assets of unconsolidated VIEs in which we hold a variable interest, as well as our maximum exposure to loss associated with these VIEs: Maximum Exposure to Loss (in millions) Total VIE On-Balance (b) Off-Balance Total June 30, 2022 Real estate and investment entities (a) $ 500,408 $ 8,134 $ 3,668 (c) $ 11,802 Other 1,730 272 644 (d) 916 Total $ 502,138 $ 8,406 $ 4,312 $ 12,718 December 31, 2021 Real estate and investment entities (a) $ 457,335 $ 7,650 $ 3,448 (c) $ 11,098 Other 1,738 237 528 (d) 765 Total $ 459,073 $ 7,887 $ 3,976 $ 11,863 (a) Comprised primarily of hedge funds and private equity funds. (b) At June 30, 2022 and December 31, 2021, $8.3 billion and $7.8 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. (c) These amounts represent our unfunded commitments to invest in private equity funds and hedge funds. (d) These amounts represent our estimate of the maximum exposure to loss under certain insurance policies issued to VIEs if a hypothetical loss occurred to the extent of the full amount of the insured value. Our insurance policies cover defined risks and our estimate of liability is included in our insurance reserves on the balance sheet.

Derivatives and Hedge Account_2

Derivatives and Hedge Accounting (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table presents the notional amounts of our derivatives and the fair value of derivative assets and liabilities in the Condensed Consolidated Balance Sheets: June 30, 2022 December 31, 2021 Gross Derivative Assets Gross Derivative Liabilities Gross Derivative Assets Gross Derivative Liabilities (in millions) Notional Amount Fair Notional Amount Fair Notional Amount Fair Notional Amount Fair Derivatives designated as hedging instruments: (a) Interest rate contracts $ 85 $ 2 $ 925 $ 35 $ 265 $ 5 $ 895 $ 11 Foreign exchange contracts 8,027 870 1,956 217 5,431 467 5,828 197 Derivatives not designated as hedging instruments: (a) Interest rate contracts 49,436 4,609 56,712 6,272 47,499 3,868 42,113 3,622 Foreign exchange contracts 13,408 1,243 3,639 431 7,905 722 9,997 524 Equity contracts 29,116 387 4,710 53 27,423 681 5,091 53 Commodity contracts 271 9 104 — 303 4 219 — Credit contracts (b) 1,789 1 933 44 3,790 1 936 47 Other contracts (c) 45,428 16 — — 43,892 13 51 — Total derivatives, gross $ 147,560 $ 7,137 $ 68,979 $ 7,052 $ 136,508 $ 5,761 $ 65,130 $ 4,454 Counterparty netting (d) (4,354) (4,354) (2,779) (2,779) Cash collateral (e) (2,426) (2,418) (2,139) (1,089) Total derivatives on Condensed Consolidated Balance Sheets (f) $ 357 $ 280 $ 843 $ 586 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) As of June 30, 2022 and December 31, 2021, included CDSs on super senior multi-sector CDOs with a net notional amount of $93 million and $97 million (fair value liability of $32 million and $30 million), respectively. The net notional amount represents the maximum exposure to loss on the portfolio. (c) Consists primarily of stable value wraps and contracts with multiple underlying exposures. (d) Represents netting of derivative exposures covered by a qualifying master netting agreement. (e) Represents cash collateral posted and received that is eligible for netting. (f) Freestanding derivatives only, excludes embedded derivatives. Derivative instrument assets and liabilities are recorded in Other assets and Other liabilities, respectively. Fair value of assets related to bifurcated embedded derivatives was $0.6 billion and zero at June 30, 2022 and December 31, 2021, respectively. Fair value of liabilities related to bifurcated embedded derivatives was $7.0 billion and $14.5 billion, respectively, at June 30, 2022 and December 31, 2021. A bifurcated embedded derivative is generally presented with the host contract in the Condensed Consolidated Balance Sheets. Embedded derivatives are primarily related to guarantee features in variable annuity products, which include equity and interest rate components, and the funds withheld arrangement with Fortitude Re. For additional information see Note 7.
Schedule of Gain (Loss) Recognized in Income on Derivative Instruments in Fair Value Hedging Relationships	The following table presents the gain (loss) recognized in income on our derivative instruments in fair value hedging relationships in the Condensed Consolidated Statements of Income (Loss): Gains/(Losses) Recognized in Income for: (in millions) Hedging Derivatives (a) Excluded Components (b) Hedged Net Impact Three Months Ended June 30, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (7) $ — $ 8 $ 1 Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) 325 98 (325) 98 Three Months Ended June 30, 2021 Interest rate contracts: Interest credited to policyholder account balances $ (3) $ — $ 1 $ (2) Net investment income (loss) (1) — — (1) Foreign exchange contracts: Net realized gains/(losses) (36) 107 36 107 Six Months Ended June 30, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (28) $ — $ 31 $ 3 Net investment income (loss) 1 — (1) — Foreign exchange contracts: Net realized gains/(losses) 434 140 (434) 140 Six Months Ended June 30, 2021 Interest rate contracts: Interest credited to policyholder account balances $ (7) $ — $ 7 $ — Net investment income (loss) 7 — (7) — Foreign exchange contracts: Net realized gains/(losses) (4) 78 4 78 (a) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are included in the assessment of hedge effectiveness. (b) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are excluded from the assessment of hedge effectiveness and recognized in income on a mark-to-market basis.
Derivatives Not Designated as Hedging Instruments	The following table presents the effect of derivative instruments not designated as hedging instruments in the Condensed Consolidated Statements of Income (Loss): Gains (Losses) Recognized in Income Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 By Derivative Type: Interest rate contracts $ (869) $ 856 $ (1,482) $ (689) Foreign exchange contracts 730 48 966 (39) Equity contracts 78 (32) (126) (551) Commodity contracts (3) 1 (7) 1 Credit contracts — (4) (1) (9) Other contracts 13 17 31 32 Embedded derivatives 4,306 (3,242) 9,591 1,597 Total $ 4,255 $ (2,356) $ 8,972 $ 342 By Classification: Policy fees $ 15 $ 15 $ 30 $ 30 Net investment income 3 7 2 (5) Net realized gains (losses) - excluding Fortitude Re funds withheld assets 1,420 (388) 2,868 52 Net realized gains (losses) on Fortitude Re funds withheld assets (a) 2,824 (1,996) 6,086 269 Policyholder benefits and claims incurred (7) 6 (14) (4) Total $ 4,255 $ (2,356) $ 8,972 $ 342 (a) Includes over-the-counter derivatives supporting the funds withheld arrangements with Fortitude Re and the embedded derivative contained within the funds withheld payable with Fortitude Re.

Insurance Liabilities (Tables)

Insurance Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Insurance [Abstract]
Rollforward of Activity in Loss Reserves	The following table presents the rollforward of activity in loss reserves: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 78,183 $ 78,832 $ 79,026 $ 77,720 Reinsurance recoverable (34,321) (35,271) (35,213) (34,431) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 43,862 43,561 43,813 43,289 Losses and loss adjustment expenses incurred: Current year 3,765 3,870 7,647 7,795 Prior years, excluding discount and amortization of deferred gain (374) (29) (425) (13) Prior years, discount charge (benefit) 38 34 42 16 Prior years, amortization of deferred gain on retroactive reinsurance (a) 28 (22) (14) (94) Total losses and loss adjustment expenses incurred 3,457 3,853 7,250 7,704 Losses and loss adjustment expenses paid: Current year (834) (895) (1,157) (1,223) Prior years (2,729) (2,620) (6,171) (6,204) Total losses and loss adjustment expenses paid (3,563) (3,515) (7,328) (7,427) Other changes: Foreign exchange effect (800) 113 (796) 357 Retroactive reinsurance adjustment (net of discount) (b) 200 103 217 192 Total other changes (600) 216 (579) 549 Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 43,156 44,115 43,156 44,115 Reinsurance recoverable 33,583 34,866 33,583 34,866 Total $ 76,739 $ 78,981 $ 76,739 $ 78,981 (a) Includes $6 million and $1 million for the retroactive reinsurance agreement with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway Inc. (Berkshire), covering U.S. asbestos exposures for the three-month periods ended June 30, 2022 and 2021, respectively, and $10 million and $18 million for the six-month periods ended June 30, 2022 and 2021. (b) Includes benefit (charge) from change in discount on retroactive reinsurance in the amount of $18 million and $17 million for the three-month periods ended June 30, 2022 and 2021 respectively, and $57 million and $56 million for the six-month periods ended June 30, 2022 and 2021 respectively.
Schedule of Components of Loss Reserve Discount	The following table presents the components of the loss reserve discount discussed above: (in millions) June 30, 2022 December 31, 2021 U.S. workers' compensation $ 1,835 $ 1,829 Retroactive reinsurance (896) (953) Total reserve discount (a)(b) $ 939 $ 876 (a) Excludes $111 million and $116 million of discount related to certain long-tail liabilities in the UK at June 30, 2022 and December 31, 2021, respectively.
Schedule of Loss Reserve Discount	The following table presents the net loss reserve discount benefit (charge): Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Current accident year $ 24 $ 12 $ 48 $ 26 Accretion and other adjustments to prior year discount (38) (34) (42) (16) Net reserve discount benefit (charge) (14) (22) 6 10 Change in discount on loss reserves ceded under retroactive reinsurance 18 17 57 56 Net change in total reserve discount* $ 4 $ (5) $ 63 $ 66 * Excludes $(7) million and $2 million discount related to certain long-tail liabilities in the UK for the three-month periods ended June 30, 2022 and 2021, respectively, and excludes $(5) million and $9 million discount related to certain long-tail liabilities in the UK for the six-month periods ended June 30, 2022 and 2021, respectively.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of Dividends	The following table presents declaration date, record date, payment date and dividends paid per preferred share and per depository share on the Series A Preferred Stock in the six months ended June 30, 2022 and 2021: Dividends Paid Declaration Date Record Date Payment Date Per Preferred Share Per Depositary Share May 3, 2022 May 31, 2022 June 15, 2022 $ 365.625 $ 0.365625 February 16, 2022 February 28, 2022 March 15, 2022 365.625 0.365625 May 6, 2021 May 31, 2021 June 15, 2021 $ 365.625 $ 0.365625 February 16, 2021 February 26, 2021 March 15, 2021 365.625 0.365625 The following table presents declaration date, record date, payment date and dividends paid per common share on AIG Common Stock in the six months ended June 30, 2022 and 2021 : Declaration Date Record Date Payment Date Dividends Paid May 3, 2022 June 16, 2022 June 30, 2022 $ 0.32 February 16, 2022 March 17, 2022 March 31, 2022 0.32 May 6, 2021 June 15, 2021 June 29, 2021 $ 0.32 February 16, 2021 March 16, 2021 March 30, 2021 0.32
Schedule of Outstanding Common Stock	The following table presents a rollforward of outstanding shares: Six Months Ended June 30, 2022 Common Treasury Common Stock Outstanding Shares, beginning of year 1,906,671,492 (1,087,984,129) 818,687,363 Shares issued — 5,126,759 5,126,759 Shares repurchased — (52,542,606) (52,542,606) Shares, end of period 1,906,671,492 (1,135,399,976) 771,271,516
Repurchases of AIG Common Stock	The following table presents repurchases of AIG Common Stock: Six Months Ended June 30, (in millions) 2022 2021 Aggregate repurchases of common stock * $ 3,102 $ 592 Total number of common shares repurchased 53 13 * For the six months ended June 30, 2021, approximately $92 million of these share repurchases were funded with proceeds received from warrant exercises that occurred prior to the expiration of warrants to purchase shares of AIG Common Stock on January 19, 2021.
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents a rollforward of Accumulated other comprehensive income (loss): (in millions) Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Plan Liabilities Adjustment Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Total Balance, March 31, 2022, net of tax $ (97) $ (2,437) $ (2,478) $ (894) $ 6 $ (5,900) Change in unrealized appreciation (depreciation) of investments 45 (17,949) — — — (17,904) Change in deferred policy acquisition costs adjustment and other 4 2,517 — — — 2,521 Change in future policy benefits — 942 — — — 942 Change in foreign currency translation adjustments — — (204) — — (204) Change in net actuarial loss — — — 5 — 5 Change in prior service cost — — — 4 — 4 Change in deferred tax asset (liability) (9) 1,952 (77) 7 — 1,873 Change in fair value of liabilities under fair value option attributable to changes in own credit risk — — — — (4) (4) Total other comprehensive income (loss) 40 (12,538) (281) 16 (4) (12,767) Noncontrolling interests 4 (1,003) (12) — — (1,011) Balance, June 30, 2022, net of tax $ (61) $ (13,972) $ (2,747) $ (878) $ 2 $ (17,656) Balance, March 31, 2021, net of tax $ (62) $ 9,894 $ (2,142) $ (1,231) $ 7 $ 6,466 Change in unrealized appreciation (depreciation) of investments 10 5,836 — — — 5,846 Change in deferred policy acquisition costs adjustment and other (2) (691) — — — (693) Change in future policy benefits — (378) — — — (378) Change in foreign currency translation adjustments — — 25 — — 25 Change in net actuarial loss — — — 12 — 12 Change in prior service cost — — — 2 — 2 Change in deferred tax asset (liability) (4) (1,057) (11) — — (1,072) Change in fair value of liabilities under fair value option attributable to changes in own credit risk — — — — — — Total other comprehensive income 4 3,710 14 14 — 3,742 Noncontrolling interests — (1) — — — (1) Balance, June 30, 2021, net of tax $ (58) $ 13,605 $ (2,128) $ (1,217) $ 7 $ 10,209 (in millions) Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Total Balance, December 31, 2021, net of tax $ (57) $ 10,094 $ (2,453) $ (903) $ 6 $ 6,687 Change in unrealized appreciation (depreciation) of investments (12) (38,059) — — — (38,071) Change in deferred policy acquisition costs adjustment and other 4 5,332 — — — 5,336 Change in future policy benefits — 2,125 — — — 2,125 Change in foreign currency translation adjustments — — (205) — — (205) Change in net actuarial loss — — — 16 — 16 Change in prior service cost — — — 5 — 5 Change in deferred tax asset (liability) 3 4,457 (81) 4 — 4,383 Change in fair value of liabilities under fair value option attributable to changes in own credit risk — — — — (4) (4) Total other comprehensive income (loss) (5) (26,145) (286) 25 (4) (26,415) Noncontrolling interests (1) (2,079) 8 — — (2,072) Balance, June 30, 2022, net of tax $ (61) $ (13,972) $ (2,747) $ (878) $ 2 $ (17,656) Balance, December 31, 2020, net of tax $ (95) $ 17,093 $ (2,267) $ (1,228) $ 8 $ 13,511 Change in unrealized appreciation (depreciation) of investments 51 (5,854) — — — (5,803) Change in deferred policy acquisition costs adjustment and other (4) 702 — — — 698 Change in future policy benefits — 767 — — — 767 Change in foreign currency translation adjustments — — 195 — — 195 Change in net actuarial loss — — — 11 — 11 Change in prior service cost — — — 4 — 4 Change in deferred tax asset (liability) (10) 896 (56) (4) — 826 Change in fair value of liabilities under fair value option attributable to changes in own credit risk — — — — (1) (1) Total other comprehensive income (loss) 37 (3,489) 139 11 (1) (3,303) Noncontrolling interests — (1) — — — (1) Balance, June 30, 2021, net of tax $ (58) $ 13,605 $ (2,128) $ (1,217) $ 7 $ 10,209
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments	The following table presents the other comprehensive income (loss) reclassification adjustments for the three- and six-month periods ended June 30, 2022 and 2021 , respectively: (in millions) Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Unrealized Appreciation (Depreciation) of All Other Investments Foreign Currency Translation Adjustments Retirement Plan Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Total Three Months Ended June 30, 2022 Unrealized change arising during period $ 41 $ (15,086) $ (204) $ 2 $ (4) $ (15,251) Less: Reclassification adjustments included in net income (8) (596) — (7) — (611) Total other comprehensive income (loss), before income tax expense (benefit) 49 (14,490) (204) 9 (4) (14,640) Less: Income tax expense (benefit) 9 (1,952) 77 (7) — (1,873) Total other comprehensive income (loss), net of income tax expense (benefit) $ 40 $ (12,538) $ (281) $ 16 $ (4) $ (12,767) Three Months Ended June 30, 2021 Unrealized change arising during period $ 4 $ 4,906 $ 25 $ 3 $ — $ 4,938 Less: Reclassification adjustments included in net income (4) 139 — (11) — 124 Total other comprehensive income (loss), before income tax expense (benefit) 8 4,767 25 14 — 4,814 Less: Income tax expense (benefit) 4 1,057 11 — — 1,072 Total other comprehensive income (loss), net of income tax expense (benefit) $ 4 $ 3,710 $ 14 $ 14 $ — $ 3,742 Six Months Ended June 30, 2022 Unrealized change arising during period $ (16) $ (31,337) $ (205) $ 6 $ (4) $ (31,556) Less: Reclassification adjustments included in net income (8) (735) — (15) — (758) Total other comprehensive income (loss), before of income tax expense (benefit) (8) (30,602) (205) 21 (4) (30,798) Less: Income tax expense (benefit) (3) (4,457) 81 (4) — (4,383) Total other comprehensive income (loss), net of income tax expense (benefit) $ (5) $ (26,145) $ (286) $ 25 $ (4) $ (26,415) Six Months Ended June 30, 2021 Unrealized change arising during period $ 41 $ (3,855) $ 195 $ (8) $ (1) $ (3,628) Less: Reclassification adjustments included in net income (6) 530 — (23) — 501 Total other comprehensive income (loss), before income tax expense (benefit) 47 (4,385) 195 15 (1) (4,129) Less: Income tax expense (benefit) 10 (896) 56 4 — (826) Total other comprehensive income (loss), net of income tax expense (benefit) $ 37 $ (3,489) $ 139 $ 11 $ (1) $ (3,303) The following table presents the effect of the reclassification of significant items out of AOCI on the respective line items in the Condensed Consolidated Statements of Income (Loss): Amount Reclassified from AOCI Affected Line Item in the Three Months Ended June 30, Condensed Consolidated (in millions) 2022 2021 Statements of Income (Loss) Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken Investments $ (8) $ (4) Net realized gains (losses) Total (8) (4) Unrealized appreciation (depreciation) of all other investments Investments (596) 139 Net realized gains (losses) Total (596) 139 Change in retirement plan liabilities adjustment Prior-service credit — (1) * Actuarial losses (7) (10) * Total (7) (11) Total reclassifications for the period $ (611) $ 124 Amount Reclassified from AOCI Affected Line Item in the Six Months Ended June 30, Condensed Consolidated (in millions) 2022 2021 Statements of Income (Loss) Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken Investments $ (8) $ (6) Net realized gains (losses) Total (8) (6) Unrealized appreciation (depreciation) of all other investments Investments (735) 530 Net realized gains (losses) Total (735) 530 Change in retirement plan liabilities adjustment Prior-service credit (1) (2) Actuarial losses (14) (21) Total (15) (23) Total reclassifications for the period $ (758) $ 501

Earnings Per Common Share (EP_2

Earnings Per Common Share (EPS) (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table presents the computation of basic and diluted EPS: Three Months Ended Six Months Ended (dollars in millions, except per common share data) 2022 2021 2022 2021 Numerator for EPS: Income from continuing operations $ 3,393 $ 150 $ 8,049 $ 4,080 Less: Net income from continuing operations attributable to noncontrolling interests 356 51 752 105 Less: Preferred stock dividends 8 8 15 15 Income attributable to AIG common shareholders from continuing operations 3,029 91 7,282 3,960 Loss from discontinued operations, net of income tax expense (1) — (1) — Net income attributable to AIG common shareholders $ 3,028 $ 91 $ 7,281 $ 3,960 Denominator for EPS: Weighted average common shares outstanding - basic 790,897,301 862,930,931 803,532,447 865,508,343 Dilutive common shares 9,833,445 9,946,372 9,765,891 9,057,937 Weighted average common shares outstanding - diluted (a) 800,730,746 872,877,303 813,298,338 874,566,280 Income per common share attributable to AIG common shareholders: Basic: Income from continuing operations $ 3.83 $ 0.11 $ 9.06 $ 4.58 Income from discontinued operations $ — $ — $ — $ — Income attributable to AIG common shareholders $ 3.83 $ 0.11 $ 9.06 $ 4.58 Diluted: Income from continuing operations $ 3.78 $ 0.11 $ 8.95 $ 4.53 Income from discontinued operations $ — $ — $ — $ — Income attributable to AIG common shareholders $ 3.78 $ 0.11 $ 8.95 $ 4.53 (a) Potential dilutive common shares include our share-based employee compensation plans, a weighted average portion of the 10-year warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011, which expired in January 2021 and an option for Blackstone to exchange all or a portion of its ownership interest in Corebridge for AIG common shares. The number of common shares excluded from diluted shares outstanding was 46.6 million and 46.2 million for the three- and six-month periods ended June 30, 2022, respectively, and 5.5 million and 7.4 million for the three- and six-month periods ended June 30, 2021, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive.

Basis of Presentation (Details)

Basis of Presentation (Details)

3 Months Ended

6 Months Ended

Feb. 25, 2022 USD ($)

Nov. 02, 2021

Jul. 16, 2021 USD ($) mutualFund

Jun. 30, 2022 USD ($) country $ / shares

Jun. 30, 2021 USD ($)

Jun. 30, 2022 USD ($) country $ / shares

Jun. 30, 2021 USD ($)

May 12, 2022 USD ($)

Apr. 06, 2022 USD ($)

Apr. 05, 2022 USD ($)

Dec. 31, 2021 $ / shares

Nov. 01, 2021 USD ($)

Basis of Presentation Information

Number of countries in which the entity operates | country

70

70

Common stock, par value (in dollars per share) | $ / shares

$ 2.50

$ 2.50

$ 2.50

Notes receivable, related party

$ 8,300,000,000

$ 8,300,000,000

Number of funds reorganized | mutualFund

12

Number of funds liquidated | mutualFund

6

Extinguishment of debt

$ 7,600,000,000

Repayments of debt

7,800,000,000

Loss on extinguishment of debt

$ 299,000,000

$ 106,000,000

299,000,000

$ 98,000,000

Senior Notes

Basis of Presentation Information

Amount of debt issued

6,500,000,000

Senior Notes Due 2025 | Senior Notes

Basis of Presentation Information

Amount of debt issued

$ 1,000,000,000

Interest rate

3.50%

Senior Notes Due 2027 | Senior Notes

Basis of Presentation Information

Amount of debt issued

$ 1,250,000,000

Interest rate

3.65%

Senior Notes Due 2029 | Senior Notes

Basis of Presentation Information

Amount of debt issued

$ 1,000,000,000

Interest rate

3.85%

Senior Notes Due 2032 | Senior Notes

Basis of Presentation Information

Amount of debt issued

$ 1,500,000,000

Interest rate

3.90%

Senior Notes Due 2042 | Senior Notes

Basis of Presentation Information

Amount of debt issued

$ 500,000,000

Interest rate

4.35%

Senior Notes Due 2052 | Senior Notes

Basis of Presentation Information

Amount of debt issued

$ 1,250,000,000

Interest rate

4.40%

CoreBridge 18-Month DDTL Facility

Basis of Presentation Information

Debt instrument term (in years)

18 months

Maximum borrowing capacity

$ 6,000,000,000

CoreBridge 3-Year DDTL Facility

Basis of Presentation Information

Debt instrument term (in years)

3 years

Maximum borrowing capacity

$ 3,000,000,000

$ 2,500,000,000

Initial offering period (in days)

5 days

Remaining borrowing capacity

$ 2,500,000,000

$ 2,500,000,000

$ 2,500,000,000

Corebridge Financial Inc

Basis of Presentation Information

Dividends payable

$ 8,300,000,000

Amount of debt issued

$ 6,500,000,000

SAAMCo

Basis of Presentation Information

Assets under management

$ 6,800,000,000

Annual increase period (in years)

3 years

Corebridge Financial Inc | Blackstone

Basis of Presentation Information

Ownership percentage by noncontrolling owners

9.90%

Percent of ownership interest permitted to be sold after first anniversary

25%

Percent of ownership interest permitted to be sold after second anniversary

67%

Percent of ownership interest permitted to be sold after third anniversary

75%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Jan. 01, 2023	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity		$ 46,824	$ 58,103	$ 68,912	$ 66,908	$ 63,560	$ 67,199
ASU 2018-12 | Cumulative effect of change in accounting principle | Forecast | Minimum
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity	$ (1,000)
ASU 2018-12 | Cumulative effect of change in accounting principle | Forecast | Maximum
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity	$ (3,000)

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 segment
General Insurance
Segment Reporting Information [Line Items]
Number of operating segments	2
Life and Retirement
Segment Reporting Information [Line Items]
Number of operating segments	4

Segment Information - Schedule

Segment Information - Schedule of continuing operations by operating segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Adjusted Revenues	$ 14,441	$ 10,681	$ 30,249	$ 25,135
Adjusted Pre-tax Income (Loss)	4,321	147	10,156	4,875
Changes in fair value of securities used to hedge guaranteed living benefits, Adjusted Revenues	13	14	27	32
Changes in fair value of securities used to hedge guaranteed living benefits	10	13	23	35
Changes in benefit reserves and DAC, VOBA and DSI related to net realized gains (losses)	(128)	120	(401)	(83)
Changes in the fair value of equity securities	(30)	(13)	(57)	9
Other income (expense) - net	(9)	(2)	(16)	(8)
Loss on extinguishment of debt	(299)	(106)	(299)	(98)
Net investment income on Fortitude Re funds withheld assets	2,604	3,675	5,841	7,332
Total net realized gains (losses)	3,392	(1,926)	7,811	1,324
Net realized gains, adjusted revenues	615	(68)	1,796	549
Net realized gains, adjusted pre-tax income (loss)	620	(59)	1,808	568
Net loss on divestitures	(1)	(1)	39	6
Non-operating litigation reserves and settlements	4	0	38	0
Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	144	65	144	84
Net loss reserve discount charge	(14)	(22)	6	10
Integration and transaction costs associated with acquiring or divesting businesses	(38)	(35)	(84)	(44)
Restructuring and other costs	(175)	(126)	(268)	(200)
Non-recurring costs related to regulatory or accounting changes	(9)	(21)	(13)	(41)
Fortitude Re funds withheld assets
Segment Reporting Information [Line Items]
Net investment income on Fortitude Re funds withheld assets	188	507	479	993
Total net realized gains (losses)	(86)	173	(226)	346
Fortitude Re funds withheld embedded derivative
Segment Reporting Information [Line Items]
Total net realized gains (losses)	2,776	(2,056)	6,094	326
Total
Segment Reporting Information [Line Items]
Adjusted Revenues	10,970	12,126	22,114	22,888
Adjusted Pre-tax Income (Loss)	1,359	1,708	2,873	2,964
Corporate Reconciling Items And Eliminations
Segment Reporting Information [Line Items]
Adjusted Revenues	71	134	229	278
Adjusted Pre-tax Income (Loss)	(461)	(610)	(882)	(1,140)
Other Operations before consolidation and eliminations
Segment Reporting Information [Line Items]
Adjusted Revenues	207	259	501	583
Adjusted Pre-tax Income (Loss)	(331)	(516)	(619)	(870)
Consolidation and eliminations
Segment Reporting Information [Line Items]
Adjusted Revenues	(136)	(125)	(272)	(305)
Adjusted Pre-tax Income (Loss)	(130)	(94)	(263)	(270)
General Insurance | Reportable Segments
Segment Reporting Information [Line Items]
Adjusted Revenues	6,844	6,946	13,865	13,584
Adjusted Pre-tax Income (Loss)	1,257	1,194	2,468	2,039
General Insurance | Reportable Segments | North America
Segment Reporting Information [Line Items]
Adjusted Revenues	2,972	2,685	5,761	5,073
Adjusted Pre-tax Income (Loss)	406	169	662	(33)
General Insurance | Reportable Segments | International
Segment Reporting Information [Line Items]
Adjusted Revenues	3,414	3,530	6,881	7,008
Adjusted Pre-tax Income (Loss)	393	294	583	569
General Insurance | Reportable Segments | Net investment income
Segment Reporting Information [Line Items]
Adjusted Revenues	458	731	1,223	1,503
Adjusted Pre-tax Income (Loss)	458	731	1,223	1,503
Life and Retirement | Reportable Segments
Segment Reporting Information [Line Items]
Adjusted Revenues	4,055	5,046	8,020	9,026
Adjusted Pre-tax Income (Loss)	563	1,124	1,287	2,065
Life and Retirement | Reportable Segments | Individual Retirement
Segment Reporting Information [Line Items]
Adjusted Revenues	1,288	1,519	2,673	2,996
Adjusted Pre-tax Income (Loss)	204	617	588	1,149
Life and Retirement | Reportable Segments | Group Retirement
Segment Reporting Information [Line Items]
Adjusted Revenues	682	820	1,426	1,626
Adjusted Pre-tax Income (Loss)	164	347	389	654
Life and Retirement | Reportable Segments | Life Insurance
Segment Reporting Information [Line Items]
Adjusted Revenues	1,299	1,295	2,586	2,628
Adjusted Pre-tax Income (Loss)	117	20	108	(20)
Life and Retirement | Reportable Segments | Institutional Markets
Segment Reporting Information [Line Items]
Adjusted Revenues	786	1,412	1,335	1,776
Adjusted Pre-tax Income (Loss)	$ 78	$ 140	$ 202	$ 282

Fair Value Measurements - Asset

Fair Value Measurements - Assets and liabilities measured at fair value on a recurring basis (Details) - USD ($)		Jun. 30, 2022	Dec. 31, 2021
Assets:
Bonds available for sale	[1]	$ 232,735,000,000	$ 277,202,000,000
Other bond securities	[1]	6,898,000,000	6,278,000,000
Equity securities	[1]	629,000,000	739,000,000
Derivative assets		7,137,000,000	5,761,000,000
Counterparty netting		(4,354,000,000)	(2,779,000,000)
Cash Collateral		(2,426,000,000)	(2,139,000,000)
Total derivative assets		357,000,000	843,000,000
Short-term investments	[1]	9,446,000,000	13,357,000,000
Separate account assets		86,735,000,000	109,111,000,000
Liabilities:
Policyholder contract deposits		156,557,000,000	156,686,000,000
Derivative liabilities		7,052,000,000	4,454,000,000
Counterparty netting		(4,354,000,000)	(2,779,000,000)
Cash Collateral		(2,418,000,000)	(1,089,000,000)
Total derivative liabilities		280,000,000	586,000,000
Fortitude Re funds withheld payable		32,970,000,000	40,771,000,000
U.S. government and government sponsored entities
Assets:
Bonds available for sale		8,146,000,000	8,194,000,000
Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		12,600,000,000	14,527,000,000
Non-U.S. governments
Assets:
Bonds available for sale		13,674,000,000	16,330,000,000
Corporate debt
Assets:
Bonds available for sale		142,741,000,000	175,608,000,000
RMBS
Assets:
Bonds available for sale		20,173,000,000	27,287,000,000
CMBS
Assets:
Bonds available for sale		14,887,000,000	15,809,000,000
CDO/ABS
Assets:
Bonds available for sale		20,514,000,000	19,447,000,000
Level 3 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		913,000,000	1,400,000,000
Level 3 | Corporate debt
Assets:
Bonds available for sale		2,346,000,000	1,561,000,000
Level 3 | RMBS
Assets:
Bonds available for sale		5,843,000,000	9,916,000,000
Level 3 | CMBS
Assets:
Bonds available for sale		587,000,000	580,000,000
Fair Value Measured at Net Asset Value Per Share
Liabilities:
Fair Value Using NAV Per Share (or its equivalent)		9,600,000,000	8,400,000,000
Recurring Basis
Assets:
Counterparty netting		(4,354,000,000)	(2,779,000,000)
Cash Collateral		(2,426,000,000)	(2,139,000,000)
Counterparty netting and cash collateral		(6,780,000,000)	(4,918,000,000)
Total derivative assets		357,000,000	843,000,000
Short-term investments		3,431,000,000	4,426,000,000
Liabilities:
Policyholder contract deposits		6,997,000,000	9,736,000,000
Counterparty netting		(4,354,000,000)	(2,779,000,000)
Cash Collateral		(2,418,000,000)	(1,089,000,000)
Counterparty netting and cash collateral		(6,772,000,000)	(3,868,000,000)
Total derivative liabilities		280,000,000	586,000,000
Fortitude Re funds withheld payable		(638,000,000)
Fortitude Re funds withheld payable			5,922,000,000
Other liabilities		280,000,000	586,000,000
Long-term debt		1,664,000,000	1,871,000,000
Recurring Basis | Levels 1, 2 and 3
Assets:
Bonds available for sale		232,735,000,000	277,202,000,000
Other bond securities		6,898,000,000	6,278,000,000
Equity securities		629,000,000	739,000,000
Other invested assets		2,139,000,000	2,086,000,000
Short-term investments		3,431,000,000	4,426,000,000
Other assets		107,000,000	114,000,000
Separate account assets		86,735,000,000	109,111,000,000
Total		333,031,000,000	400,799,000,000
Liabilities:
Policyholder contract deposits		6,997,000,000	9,736,000,000
Fortitude Re funds withheld payable		(638,000,000)
Fortitude Re funds withheld payable			5,922,000,000
Long-term debt		1,664,000,000	1,871,000,000
Total		8,303,000,000	18,115,000,000
Recurring Basis | Levels 1, 2 and 3 | Interest rate contracts
Assets:
Derivative assets		4,611,000,000	3,873,000,000
Liabilities:
Derivative liabilities		6,307,000,000	3,633,000,000
Recurring Basis | Levels 1, 2 and 3 | Foreign exchange contracts
Assets:
Derivative assets		2,113,000,000	1,189,000,000
Liabilities:
Derivative liabilities		648,000,000	721,000,000
Recurring Basis | Levels 1, 2 and 3 | Equity contracts
Assets:
Derivative assets		387,000,000	681,000,000
Liabilities:
Derivative liabilities		53,000,000	53,000,000
Recurring Basis | Levels 1, 2 and 3 | Commodity contracts
Assets:
Derivative assets		9,000,000	4,000,000
Recurring Basis | Levels 1, 2 and 3 | Credit contracts
Assets:
Derivative assets		1,000,000	1,000,000
Liabilities:
Derivative liabilities		44,000,000	47,000,000
Recurring Basis | Levels 1, 2 and 3 | Other contracts
Assets:
Derivative assets		16,000,000	13,000,000
Recurring Basis | Levels 1, 2 and 3 | U.S. government and government sponsored entities
Assets:
Bonds available for sale		8,146,000,000	8,194,000,000
Other bond securities		1,620,000,000	1,750,000,000
Recurring Basis | Levels 1, 2 and 3 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		12,600,000,000	14,527,000,000
Other bond securities		99,000,000	97,000,000
Recurring Basis | Levels 1, 2 and 3 | Non-U.S. governments
Assets:
Bonds available for sale		13,674,000,000	16,330,000,000
Other bond securities		76,000,000	76,000,000
Recurring Basis | Levels 1, 2 and 3 | Corporate debt
Assets:
Bonds available for sale		142,741,000,000	175,608,000,000
Other bond securities		1,661,000,000	1,050,000,000
Recurring Basis | Levels 1, 2 and 3 | RMBS
Assets:
Bonds available for sale		20,173,000,000	27,287,000,000
Other bond securities		294,000,000	411,000,000
Recurring Basis | Levels 1, 2 and 3 | CMBS
Assets:
Bonds available for sale		14,887,000,000	15,809,000,000
Other bond securities		321,000,000	315,000,000
Recurring Basis | Levels 1, 2 and 3 | CDO/ABS
Assets:
Bonds available for sale		20,514,000,000	19,447,000,000
Other bond securities		2,827,000,000	2,579,000,000
Recurring Basis | Level 1
Assets:
Bonds available for sale		149,000,000	2,562,000,000
Other bond securities		0	0
Equity securities		583,000,000	669,000,000
Other invested assets		0	0
Derivative assets		21,000,000	7,000,000
Short-term investments		1,874,000,000	2,584,000,000
Other assets		0	0
Separate account assets		82,990,000,000	105,221,000,000
Total		85,617,000,000	111,043,000,000
Liabilities:
Policyholder contract deposits		0	0
Derivative liabilities		14,000,000	2,000,000
Fortitude Re funds withheld payable		0
Fortitude Re funds withheld payable			0
Long-term debt		0	0
Total		14,000,000	2,000,000
Recurring Basis | Level 1 | Interest rate contracts
Assets:
Derivative assets		0	0
Liabilities:
Derivative liabilities		10,000,000	1,000,000
Recurring Basis | Level 1 | Foreign exchange contracts
Assets:
Derivative assets		0	0
Liabilities:
Derivative liabilities		0	0
Recurring Basis | Level 1 | Equity contracts
Assets:
Derivative assets		21,000,000	7,000,000
Liabilities:
Derivative liabilities		4,000,000	1,000,000
Recurring Basis | Level 1 | Commodity contracts
Assets:
Derivative assets		0	0
Recurring Basis | Level 1 | Credit contracts
Assets:
Derivative assets		0	0
Liabilities:
Derivative liabilities		0	0
Recurring Basis | Level 1 | Other contracts
Assets:
Derivative assets		0	0
Recurring Basis | Level 1 | U.S. government and government sponsored entities
Assets:
Bonds available for sale		0	2,553,000,000
Other bond securities		0	0
Recurring Basis | Level 1 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		0	0
Other bond securities		0	0
Recurring Basis | Level 1 | Non-U.S. governments
Assets:
Bonds available for sale		149,000,000	9,000,000
Other bond securities		0	0
Recurring Basis | Level 1 | Corporate debt
Assets:
Bonds available for sale		0	0
Other bond securities		0	0
Recurring Basis | Level 1 | RMBS
Assets:
Bonds available for sale		0	0
Other bond securities		0	0
Recurring Basis | Level 1 | CMBS
Assets:
Bonds available for sale		0	0
Other bond securities		0	0
Recurring Basis | Level 1 | CDO/ABS
Assets:
Bonds available for sale		0	0
Other bond securities		0	0
Recurring Basis | Level 2
Assets:
Bonds available for sale		208,218,000,000	247,778,000,000
Other bond securities		3,771,000,000	3,581,000,000
Equity securities		34,000,000	64,000,000
Other invested assets		131,000,000	138,000,000
Derivative assets		6,796,000,000	5,289,000,000
Short-term investments		1,557,000,000	1,842,000,000
Other assets		0	0
Separate account assets		3,745,000,000	3,890,000,000
Total		224,252,000,000	262,582,000,000
Liabilities:
Policyholder contract deposits		40,000,000	54,000,000
Derivative liabilities		6,993,000,000	4,415,000,000
Fortitude Re funds withheld payable		0
Fortitude Re funds withheld payable			0
Long-term debt		1,664,000,000	1,871,000,000
Total		8,697,000,000	6,340,000,000
Recurring Basis | Level 2 | Interest rate contracts
Assets:
Derivative assets		4,460,000,000	3,873,000,000
Liabilities:
Derivative liabilities		6,289,000,000	3,632,000,000
Recurring Basis | Level 2 | Foreign exchange contracts
Assets:
Derivative assets		2,113,000,000	1,188,000,000
Liabilities:
Derivative liabilities		647,000,000	721,000,000
Recurring Basis | Level 2 | Equity contracts
Assets:
Derivative assets		214,000,000	224,000,000
Liabilities:
Derivative liabilities		46,000,000	46,000,000
Recurring Basis | Level 2 | Commodity contracts
Assets:
Derivative assets		9,000,000	4,000,000
Recurring Basis | Level 2 | Credit contracts
Assets:
Derivative assets		0	0
Liabilities:
Derivative liabilities		11,000,000	16,000,000
Recurring Basis | Level 2 | Other contracts
Assets:
Derivative assets		0	0
Recurring Basis | Level 2 | U.S. government and government sponsored entities
Assets:
Bonds available for sale		8,146,000,000	5,641,000,000
Other bond securities		1,620,000,000	1,750,000,000
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		11,643,000,000	13,096,000,000
Other bond securities		99,000,000	97,000,000
Recurring Basis | Level 2 | Non-U.S. governments
Assets:
Bonds available for sale		13,516,000,000	16,314,000,000
Other bond securities		76,000,000	76,000,000
Recurring Basis | Level 2 | Corporate debt
Assets:
Bonds available for sale		140,258,000,000	172,967,000,000
Other bond securities		1,200,000,000	916,000,000
Recurring Basis | Level 2 | RMBS
Assets:
Bonds available for sale		11,821,000,000	16,909,000,000
Other bond securities		102,000,000	215,000,000
Recurring Basis | Level 2 | CMBS
Assets:
Bonds available for sale		14,016,000,000	14,619,000,000
Other bond securities		289,000,000	280,000,000
Recurring Basis | Level 2 | CDO/ABS
Assets:
Bonds available for sale		8,818,000,000	8,232,000,000
Other bond securities		385,000,000	247,000,000
Recurring Basis | Level 3
Assets:
Bonds available for sale		24,368,000,000	26,862,000,000
Other bond securities		3,127,000,000	2,697,000,000
Equity securities		12,000,000	6,000,000
Other invested assets		2,008,000,000	1,948,000,000
Derivative assets		320,000,000	465,000,000
Short-term investments		0	0
Other assets		107,000,000	114,000,000
Separate account assets		0	0
Total		29,942,000,000	32,092,000,000
Liabilities:
Policyholder contract deposits		6,957,000,000	9,682,000,000
Derivative liabilities		45,000,000	37,000,000
Fortitude Re funds withheld payable		(638,000,000)
Fortitude Re funds withheld payable			5,922,000,000
Long-term debt		0	0
Total		6,364,000,000	15,641,000,000
Recurring Basis | Level 3 | Interest rate contracts
Assets:
Derivative assets		151,000,000	0
Liabilities:
Derivative liabilities		8,000,000	0
Recurring Basis | Level 3 | Foreign exchange contracts
Assets:
Derivative assets		0	1,000,000
Liabilities:
Derivative liabilities		1,000,000	0
Recurring Basis | Level 3 | Equity contracts
Assets:
Derivative assets		152,000,000	450,000,000
Liabilities:
Derivative liabilities		3,000,000	6,000,000
Recurring Basis | Level 3 | Commodity contracts
Assets:
Derivative assets		0	0
Recurring Basis | Level 3 | Credit contracts
Assets:
Derivative assets		1,000,000	1,000,000
Liabilities:
Derivative liabilities		33,000,000	31,000,000
Recurring Basis | Level 3 | Other contracts
Assets:
Derivative assets		16,000,000	13,000,000
Recurring Basis | Level 3 | U.S. government and government sponsored entities
Assets:
Bonds available for sale		0	0
Other bond securities		0	0
Recurring Basis | Level 3 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		957,000,000	1,431,000,000
Other bond securities		0	0
Recurring Basis | Level 3 | Non-U.S. governments
Assets:
Bonds available for sale		9,000,000	7,000,000
Other bond securities		0	0
Recurring Basis | Level 3 | Corporate debt
Assets:
Bonds available for sale		2,483,000,000	2,641,000,000
Other bond securities		461,000,000	134,000,000
Recurring Basis | Level 3 | RMBS
Assets:
Bonds available for sale		8,352,000,000	10,378,000,000
Other bond securities		192,000,000	196,000,000
Recurring Basis | Level 3 | CMBS
Assets:
Bonds available for sale		871,000,000	1,190,000,000
Other bond securities		32,000,000	35,000,000
Recurring Basis | Level 3 | CDO/ABS
Assets:
Bonds available for sale		11,696,000,000	11,215,000,000
Other bond securities		$ 2,442,000,000	$ 2,332,000,000
[1]See Note 8 for details of balances associated with variable interest entities.

Fair Value Measurements - Chang

Fair Value Measurements - Changes in level 3 recurring fair value measurements, assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	$ 30,413	$ 31,298	$ 31,627	$ 31,578
Net Realized and Unrealized Gains (Losses) Included in income	65	335	201	673
Other Comprehensive Income (Loss)	(1,180)	168	(2,665)	(10)
Purchases, Sales, Issuances and Settlements, Net	897	(931)	1,243	(1,483)
Gross Transfers In	786	597	2,197	1,376
Gross Transfers Out	(1,359)	(606)	(2,981)	(1,273)
Other	0	0	0	0
Fair Value End of Period	29,622	30,861	29,622	30,861
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	156	393	105	421
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(1,150)	1,672	(2,583)	1,497
Bonds available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	25,404	26,642	26,862	26,889
Net Realized and Unrealized Gains (Losses) Included in income	85	175	230	369
Other Comprehensive Income (Loss)	(1,159)	172	(2,638)	(3)
Purchases, Sales, Issuances and Settlements, Net	707	(782)	792	(1,080)
Gross Transfers In	619	596	1,865	1,294
Gross Transfers Out	(1,288)	(596)	(2,743)	(1,262)
Other	0	0	0	0
Fair Value End of Period	24,368	26,207	24,368	26,207
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(1,150)	1,672	(2,583)	1,497
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	1,087	1,896	1,431	2,105
Net Realized and Unrealized Gains (Losses) Included in income	0	5	2	8
Other Comprehensive Income (Loss)	(143)	128	(428)	(31)
Purchases, Sales, Issuances and Settlements, Net	(4)	(65)	(65)	(118)
Gross Transfers In	17	0	17	0
Gross Transfers Out	0	(25)	0	(25)
Other	0	0	0	0
Fair Value End of Period	957	1,939	957	1,939
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(151)	244	(410)	234
Bonds available for sale | Non-U.S. governments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	8	6	7	5
Net Realized and Unrealized Gains (Losses) Included in income	0	0	0	0
Other Comprehensive Income (Loss)	0	(1)	0	(1)
Purchases, Sales, Issuances and Settlements, Net	0	1	0	1
Gross Transfers In	1	4	2	5
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	9	10	9	10
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Bonds available for sale | Corporate debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	2,744	2,570	2,641	2,349
Net Realized and Unrealized Gains (Losses) Included in income	(15)	14	(26)	13
Other Comprehensive Income (Loss)	(78)	17	(151)	7
Purchases, Sales, Issuances and Settlements, Net	(214)	31	(37)	208
Gross Transfers In	252	208	382	395
Gross Transfers Out	(206)	(67)	(326)	(199)
Other	0	0	0	0
Fair Value End of Period	2,483	2,773	2,483	2,773
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(49)	50	(137)	(109)
Bonds available for sale | RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	8,925	11,464	10,378	11,694
Net Realized and Unrealized Gains (Losses) Included in income	92	150	222	317
Other Comprehensive Income (Loss)	(390)	(39)	(943)	25
Purchases, Sales, Issuances and Settlements, Net	(266)	(460)	(874)	(891)
Gross Transfers In	0	0	0	0
Gross Transfers Out	(9)	(30)	(431)	(60)
Other	0	0	0	0
Fair Value End of Period	8,352	11,085	8,352	11,085
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(390)	957	(925)	943
Bonds available for sale | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	864	1,104	1,190	922
Net Realized and Unrealized Gains (Losses) Included in income	5	7	13	16
Other Comprehensive Income (Loss)	(46)	23	(113)	(33)
Purchases, Sales, Issuances and Settlements, Net	85	85	117	258
Gross Transfers In	0	0	0	56
Gross Transfers Out	(37)	(137)	(336)	(137)
Other	0	0	0	0
Fair Value End of Period	871	1,082	871	1,082
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(47)	18	(108)	(38)
Bonds available for sale | CDO/ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	11,776	9,602	11,215	9,814
Net Realized and Unrealized Gains (Losses) Included in income	3	(1)	19	15
Other Comprehensive Income (Loss)	(502)	44	(1,003)	30
Purchases, Sales, Issuances and Settlements, Net	1,106	(374)	1,651	(538)
Gross Transfers In	349	384	1,464	838
Gross Transfers Out	(1,036)	(337)	(1,650)	(841)
Other	0	0	0	0
Fair Value End of Period	11,696	9,318	11,696	9,318
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(513)	403	(1,003)	467
Other bond securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	2,960	2,518	2,697	2,698
Net Realized and Unrealized Gains (Losses) Included in income	(153)	46	(274)	37
Other Comprehensive Income (Loss)	1	0	0	0
Purchases, Sales, Issuances and Settlements, Net	209	(126)	490	(303)
Gross Transfers In	167	0	285	6
Gross Transfers Out	(57)	0	(71)	0
Other	0	0	0	0
Fair Value End of Period	3,127	2,438	3,127	2,438
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(18)	271	(190)	173
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other bond securities | Corporate debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	260		134
Net Realized and Unrealized Gains (Losses) Included in income	(4)		(4)
Other Comprehensive Income (Loss)	0		0
Purchases, Sales, Issuances and Settlements, Net	47		124
Gross Transfers In	161		222
Gross Transfers Out	(3)		(15)
Other	0		0
Fair Value End of Period	461		461
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(4)		(4)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0		0
Other bond securities | RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	199	126	196	139
Net Realized and Unrealized Gains (Losses) Included in income	(13)	1	(18)	4
Other Comprehensive Income (Loss)	1	0	0	0
Purchases, Sales, Issuances and Settlements, Net	5	(14)	14	(30)
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	192	113	192	113
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(13)	12	(21)	(86)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other bond securities | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	33	46	35	47
Net Realized and Unrealized Gains (Losses) Included in income	(1)	0	(3)	(1)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	0	0	0	(6)
Gross Transfers In	0	0	0	6
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	32	46	32	46
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(1)	6	(3)	4
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other bond securities | CDO/ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	2,468	2,346	2,332	2,512
Net Realized and Unrealized Gains (Losses) Included in income	(135)	45	(249)	34
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	157	(112)	352	(267)
Gross Transfers In	6	0	63	0
Gross Transfers Out	(54)	0	(56)	0
Other	0	0	0	0
Fair Value End of Period	2,442	2,279	2,442	2,279
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	253	(162)	255
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	6	128	6	51
Net Realized and Unrealized Gains (Losses) Included in income	0	0	0	11
Other Comprehensive Income (Loss)	1	(3)	0	0
Purchases, Sales, Issuances and Settlements, Net	5	(112)	6	(123)
Gross Transfers In	0	1	0	76
Gross Transfers Out	0	(10)	0	(11)
Other	0	0	0	0
Fair Value End of Period	12	4	12	4
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	3
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other invested assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	1,935	1,897	1,948	1,827
Net Realized and Unrealized Gains (Losses) Included in income	133	114	245	256
Other Comprehensive Income (Loss)	(23)	(1)	(27)	(7)
Purchases, Sales, Issuances and Settlements, Net	(23)	89	(38)	23
Gross Transfers In	0	0	47	0
Gross Transfers Out	(14)	0	(167)	0
Other	0	0	0	0
Fair Value End of Period	2,008	2,099	2,008	2,099
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	174	122	295	245
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	108	113	114	113
Net Realized and Unrealized Gains (Losses) Included in income	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(1)	0	(7)	0
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	107	113	107	113
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Cha_2

Fair Value Measurements - Changes in level 3 recurring fair value measurements, liabilities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Liabilities:
Fair Value Beginning of Period	$ 6,044	$ 14,011	$ 6,044	$ 14,011	$ 10,071	$ 15,176	$ 10,917	$ 15,721
Net Realized and Unrealized (Gains) Losses Included in Income	(4,009)	3,332	(8,841)	(1,347)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	64	(243)	(209)	(408)
Gross Transfers In		0		0
Gross Transfers Out		5		45
Other	0	0	0	0
Fair Value End of Period	6,044	14,011	6,044	14,011
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	4,113	(2,369)	9,442	3,102
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Policyholder contract deposits
Liabilities:
Fair Value Beginning of Period	6,957	9,020	6,957	9,020	8,030	9,682	7,617	9,798
Net Realized and Unrealized (Gains) Losses Included in Income	(1,322)	1,363	(3,119)	(897)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	249	40	394	119
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	6,957	9,020	6,957	9,020
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	1,369	(1,018)	3,353	1,553
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Derivative liabilities, net
Liabilities:
Net Realized and Unrealized (Gains) Losses Included in Income	89	(87)	372	(124)
Purchases, Sales, Issuances and Settlements, Net	(117)	(57)	(137)	(128)
Derivative liabilities, net:
Fair Value Beginning of Period	(165)	(187)	(428)	(119)
Net Realized and Unrealized (Gains) Losses Included in Income	89	(87)	372	(124)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(117)	(57)	(137)	(128)
Gross Transfers In	(81)	0	(81)	0
Gross Transfers Out	(1)	5	(1)	45
Other	0	0	0	0
Fair Value End of Period	(275)	(326)	(275)	(326)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(92)	101	(227)	46
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Interest rate contracts
Derivative liabilities, net:
Fair Value Beginning of Period	(4)	0	0	0
Net Realized and Unrealized (Gains) Losses Included in Income	12	(2)	11	(2)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(70)	1	(73)	1
Gross Transfers In	(81)	0	(81)	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	(143)	(1)	(143)	(1)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(10)	1	(10)	2
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Foreign exchange contracts
Derivative liabilities, net:
Fair Value Beginning of Period	0	0	(1)	(2)
Net Realized and Unrealized (Gains) Losses Included in Income	1	0	1	1
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	0	(1)	1	0
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	1	(1)	1	(1)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(1)	(1)	(1)	(1)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Equity contracts
Derivative liabilities, net:
Fair Value Beginning of Period	(178)	(222)	(444)	(151)
Net Realized and Unrealized (Gains) Losses Included in Income	89	(71)	390	(97)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(59)	(69)	(94)	(154)
Gross Transfers In	0	0	0	0
Gross Transfers Out	(1)	5	(1)	45
Other	0	0	0	0
Fair Value End of Period	(149)	(357)	(149)	(357)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(95)	85	(247)	13
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Credit contracts
Derivative liabilities, net:
Fair Value Beginning of Period	31	44	30	42
Net Realized and Unrealized (Gains) Losses Included in Income	1	2	2	7
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	0	(3)	0	(6)
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	32	43	32	43
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(1)	(1)	(1)	(1)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other contracts
Derivative liabilities, net:
Fair Value Beginning of Period	(14)	(9)	(13)	(8)
Net Realized and Unrealized (Gains) Losses Included in Income	(14)	(16)	(32)	(33)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	12	15	29	31
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	(16)	(10)	(16)	(10)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	15	17	32	33
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Fortitude Re funds withheld payable
Liabilities:
Fair Value Beginning of Period	(638)	5,317	(638)	5,317	$ 2,206	$ 5,922	$ 3,487	$ 6,042
Net Realized and Unrealized (Gains) Losses Included in Income	(2,776)	2,056	(6,094)	(326)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(68)	(226)	(466)	(399)
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	(638)	5,317	(638)	5,317
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	2,836	(1,452)	6,316	1,503
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Net r

Fair Value Measurements - Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	$ 65	$ 335	$ 201	$ 673
Net realized gains (losses), liabilities	(4,009)	3,332	(8,841)	(1,347)
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(1,322)	1,363	(3,119)	(897)
Policyholder contract deposits | Net investment income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0	0	0
Policyholder contract deposits | Net realized gains/(losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(1,322)	1,363	(3,119)	(897)
Policyholder contract deposits | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0	0	0
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	89	(87)	372	(124)
Derivative liabilities, net | Net investment income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0	0	0
Derivative liabilities, net | Net realized gains/(losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	102	(72)	400	(95)
Derivative liabilities, net | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(13)	(15)	(28)	(29)
Fortitude Re funds withheld payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(2,776)	2,056	(6,094)	(326)
Fortitude Re funds withheld payable | Net investment income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0	0	0
Fortitude Re funds withheld payable | Net realized gains/(losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(2,776)	2,056	(6,094)	(326)
Fortitude Re funds withheld payable | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0	0	0
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	85	175	230	369
Bonds available for sale | Net investment income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	142	163	306	348
Bonds available for sale | Net realized gains/(losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	(57)	12	(76)	21
Bonds available for sale | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	0	0	0	0
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	(153)	46	(274)	37
Other bond securities | Net investment income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	(153)	46	(274)	37
Other bond securities | Net realized gains/(losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	0	0	0	0
Other bond securities | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	0	0	0	0
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	0	0	0	11
Equity securities | Net investment income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets				11
Equity securities | Net realized gains/(losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets				0
Equity securities | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets				0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	133	114	245	256
Other invested assets | Net investment income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	133	99	245	241
Other invested assets | Net realized gains/(losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	0	15	0	15
Other invested assets | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Gross

Fair Value Measurements - Gross components of purchases, sales, issuances and settlements (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Assets:
Purchases	$ 2,087,000,000	$ 1,606,000,000	$ 3,779,000,000	$ 3,286,000,000
Sales	(4,000,000)	(63,000,000)	(64,000,000)	(178,000,000)
Issuances and Settlements	(1,186,000,000)	(2,474,000,000)	(2,472,000,000)	(4,591,000,000)
Purchases, Sales, Issuances and Settlements, Net	897,000,000	(931,000,000)	1,243,000,000	(1,483,000,000)
Liabilities:
Purchases	(164,000,000)	(71,000,000)	(249,000,000)	(123,000,000)
Sales	251,000,000	203,000,000	470,000,000	395,000,000
Issuances and Settlements	(23,000,000)	(375,000,000)	(430,000,000)	(680,000,000)
Purchases, Sales, Issuances and Settlements, Net	64,000,000	(243,000,000)	(209,000,000)	(408,000,000)
Issuances, assets	0	0	0	0
Issuances, liabilities	0	0	0	0
Transfers into Level 3 at end of reporting period, net gains (losses) not included in realized and unrealized gains and losses related to Level 3 for the period	(38,000,000)	9,000,000	(72,000,000)	28,000,000
Transfers out Level 3 at end of reporting period, net gains (losses) included in realized and unrealized gains and losses related to Level 3 for the period.	(38,000,000)	1,000,000	(79,000,000)	(4,000,000)
Policyholder contract deposits
Liabilities:
Purchases	0	0	0	0
Sales	250,000,000	202,000,000	467,000,000	393,000,000
Issuances and Settlements	(1,000,000)	(162,000,000)	(73,000,000)	(274,000,000)
Purchases, Sales, Issuances and Settlements, Net	249,000,000	40,000,000	394,000,000	119,000,000
Derivative liabilities, net
Liabilities:
Purchases	(164,000,000)	(71,000,000)	(249,000,000)	(123,000,000)
Sales	1,000,000	1,000,000	3,000,000	2,000,000
Issuances and Settlements	46,000,000	13,000,000	109,000,000	(7,000,000)
Purchases, Sales, Issuances and Settlements, Net	(117,000,000)	(57,000,000)	(137,000,000)	(128,000,000)
Fortitude Re funds withheld payable
Liabilities:
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances and Settlements	(68,000,000)	(226,000,000)	(466,000,000)	(399,000,000)
Purchases, Sales, Issuances and Settlements, Net	(68,000,000)	(226,000,000)	(466,000,000)	(399,000,000)
Bonds available for sale
Assets:
Purchases	1,511,000,000	1,411,000,000	2,586,000,000	2,893,000,000
Sales	(4,000,000)	(51,000,000)	(64,000,000)	(121,000,000)
Issuances and Settlements	(800,000,000)	(2,142,000,000)	(1,730,000,000)	(3,852,000,000)
Purchases, Sales, Issuances and Settlements, Net	707,000,000	(782,000,000)	792,000,000	(1,080,000,000)
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Assets:
Purchases	0	3,000,000	1,000,000	11,000,000
Sales	(4,000,000)	(23,000,000)	(64,000,000)	(43,000,000)
Issuances and Settlements	0	(45,000,000)	(2,000,000)	(86,000,000)
Purchases, Sales, Issuances and Settlements, Net	(4,000,000)	(65,000,000)	(65,000,000)	(118,000,000)
Bonds available for sale | Non-U.S. governments
Assets:
Purchases		1,000,000		1,000,000
Sales		0		0
Issuances and Settlements		0		0
Purchases, Sales, Issuances and Settlements, Net		1,000,000		1,000,000
Bonds available for sale | Corporate debt
Assets:
Purchases	14,000,000	212,000,000	23,000,000	953,000,000
Sales	0	(32,000,000)	0	(33,000,000)
Issuances and Settlements	(228,000,000)	(149,000,000)	(60,000,000)	(712,000,000)
Purchases, Sales, Issuances and Settlements, Net	(214,000,000)	31,000,000	(37,000,000)	208,000,000
Bonds available for sale | RMBS
Assets:
Purchases	176,000,000	318,000,000	285,000,000	482,000,000
Sales	0	(115,000,000)	0	(115,000,000)
Issuances and Settlements	(442,000,000)	(663,000,000)	(1,159,000,000)	(1,258,000,000)
Purchases, Sales, Issuances and Settlements, Net	(266,000,000)	(460,000,000)	(874,000,000)	(891,000,000)
Bonds available for sale | CMBS
Assets:
Purchases	76,000,000	97,000,000	146,000,000	290,000,000
Sales	0	0	0	0
Issuances and Settlements	9,000,000	(12,000,000)	(29,000,000)	(32,000,000)
Purchases, Sales, Issuances and Settlements, Net	85,000,000	85,000,000	117,000,000	258,000,000
Bonds available for sale | CDO/ABS
Assets:
Purchases	1,245,000,000	780,000,000	2,131,000,000	1,156,000,000
Sales	0	119,000,000	0	70,000,000
Issuances and Settlements	(139,000,000)	(1,273,000,000)	(480,000,000)	(1,764,000,000)
Purchases, Sales, Issuances and Settlements, Net	1,106,000,000	(374,000,000)	1,651,000,000	(538,000,000)
Other bond securities
Assets:
Purchases	312,000,000	1,000,000	671,000,000	1,000,000
Sales	0	(9,000,000)	0	(54,000,000)
Issuances and Settlements	(103,000,000)	(118,000,000)	(181,000,000)	(250,000,000)
Purchases, Sales, Issuances and Settlements, Net	209,000,000	(126,000,000)	490,000,000	(303,000,000)
Other bond securities | Corporate debt
Assets:
Purchases	5,000,000		24,000,000
Sales	0		0
Issuances and Settlements	42,000,000		100,000,000
Purchases, Sales, Issuances and Settlements, Net	47,000,000		124,000,000
Other bond securities | RMBS
Assets:
Purchases	14,000,000	1,000,000	31,000,000	1,000,000
Sales	0	(9,000,000)	0	(9,000,000)
Issuances and Settlements	(9,000,000)	(6,000,000)	(17,000,000)	(22,000,000)
Purchases, Sales, Issuances and Settlements, Net	5,000,000	(14,000,000)	14,000,000	(30,000,000)
Other bond securities | CMBS
Assets:
Purchases				0
Sales				(6,000,000)
Issuances and Settlements				0
Purchases, Sales, Issuances and Settlements, Net	0	0	0	(6,000,000)
Other bond securities | CDO/ABS
Assets:
Purchases	293,000,000	0	616,000,000	0
Sales	0	0	0	(39,000,000)
Issuances and Settlements	(136,000,000)	(112,000,000)	(264,000,000)	(228,000,000)
Purchases, Sales, Issuances and Settlements, Net	157,000,000	(112,000,000)	352,000,000	(267,000,000)
Equity securities
Assets:
Purchases	5,000,000	0	5,000,000	0
Sales	0	(3,000,000)	0	(3,000,000)
Issuances and Settlements	0	(109,000,000)	1,000,000	(120,000,000)
Purchases, Sales, Issuances and Settlements, Net	5,000,000	(112,000,000)	6,000,000	(123,000,000)
Other invested assets
Assets:
Purchases	259,000,000	194,000,000	517,000,000	392,000,000
Sales	0	0	0	0
Issuances and Settlements	(282,000,000)	(105,000,000)	(555,000,000)	(369,000,000)
Purchases, Sales, Issuances and Settlements, Net	(23,000,000)	89,000,000	(38,000,000)	23,000,000
Other assets
Assets:
Purchases	0		0
Sales	0		0
Issuances and Settlements	(1,000,000)		(7,000,000)
Purchases, Sales, Issuances and Settlements, Net	$ (1,000,000)	$ 0	$ (7,000,000)	$ 0

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Millions		Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale	[1]	$ 232,735	$ 277,202
Embedded derivatives within Policyholder contract deposits		7,000	14,500
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		943	1,200
Obligations of states, municipalities and political subdivisions
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 12,600	$ 14,527
Obligations of states, municipalities and political subdivisions | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0443	0.0274
Obligations of states, municipalities and political subdivisions | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0528	0.0333
Obligations of states, municipalities and political subdivisions | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0486	0.0306
Obligations of states, municipalities and political subdivisions | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 913	$ 1,400
Corporate debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 142,741	$ 175,608
Corporate debt | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0286	0.0223
Corporate debt | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.1040	0.0769
Corporate debt | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0663	0.0496
Corporate debt | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 2,346	$ 1,561
RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 20,173	$ 27,287
RMBS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0493	0.0169
RMBS | Minimum | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0489	0.0525
RMBS | Minimum | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.4426	0.2613
RMBS | Minimum | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0095	0.0115
RMBS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0639	0.0397
RMBS | Maximum | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0989	0.1770
RMBS | Maximum | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.7600	0.7193
RMBS | Maximum | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0286	0.0585
RMBS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0566	0.0283
RMBS | Weighted-average | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0739	0.1147
RMBS | Weighted-average | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.6013	0.4903
RMBS | Weighted-average | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0191	0.0350
RMBS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 5,843	$ 9,916
CDO/ABS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0454	0.0184
CDO/ABS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0720	0.0477
CDO/ABS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0587	0.0331
CDO/ABS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 9,064	$ 8,229
CMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 14,887	$ 15,809
CMBS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0412	0.0150
CMBS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0774	0.0501
CMBS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0593	0.0325
CMBS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 587	$ 580
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0585	0.0595
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0016	0.0016
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Minimum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2000	0.2000
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Minimum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.3800	0.3800
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Minimum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.9000	0.9000
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Minimum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2000	0.2000
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0.0001
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Maximum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.4615	0.4665
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Maximum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.1260	0.1260
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Maximum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8600	1.8600
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Maximum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.4700	1.4700
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Maximum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1	1
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Maximum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.4000	0.4000
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0204	0.0140
Variable annuity guaranteed minimum withdrawal benefits (GMWB) | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 1,198	$ 2,472
Fixed Index annuities including certain GMWB | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0050	0.0050
Fixed Index annuities including certain GMWB | Minimum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2000	0.2000
Fixed Index annuities including certain GMWB | Minimum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2400	0.2400
Fixed Index annuities including certain GMWB | Minimum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.6000	0.6000
Fixed Index annuities including certain GMWB | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0.0001
Fixed Index annuities including certain GMWB | Minimum | Option budget
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Fixed Index annuities including certain GMWB | Maximum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.5000	0.5000
Fixed Index annuities including certain GMWB | Maximum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8600	1.8600
Fixed Index annuities including certain GMWB | Maximum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8000	1.8000
Fixed Index annuities including certain GMWB | Maximum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.9500	0.9500
Fixed Index annuities including certain GMWB | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0204	0.0140
Fixed Index annuities including certain GMWB | Maximum | Option budget
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0400	0.0400
Fixed Index annuities including certain GMWB | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 5,130	$ 6,445
Indexed life | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0637	0.0765
Indexed life | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Indexed life | Minimum | Mortality rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Indexed life | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0.0001
Indexed life | Maximum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2469	0.2070
Indexed life | Maximum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.3797	0.3797
Indexed life | Maximum | Mortality rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1	1
Indexed life | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0204	0.0140
Indexed life | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 629	$ 765
[1]See Note 8 for details of balances associated with variable interest entities.

Fair Value Measurements - Inves

Fair Value Measurements - Investments in certain other invested assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Private Equity Funds and Hedge Funds
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	$ 9,570	$ 8,418
Unfunded Commitments	3,646	3,330
Private equity funds
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	8,001	6,588
Unfunded Commitments	$ 3,641	3,330
Average original expected lives (in years)	10 years
Private equity funds | Minimum
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Extension period (in years)	1 year
Private equity funds | Maximum
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Extension period (in years)	2 years
Leveraged buyout
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	$ 3,116	2,768
Unfunded Commitments	2,147	1,798
Real assets
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	1,694	904
Unfunded Commitments	593	487
Venture capital
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	262	252
Unfunded Commitments	202	201
Growth equity
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	829	914
Unfunded Commitments	71	82
Mezzanine
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	545	534
Unfunded Commitments	290	354
Other
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	1,555	1,216
Unfunded Commitments	338	408
Hedge funds
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	1,569	1,830
Unfunded Commitments	5	0
Event-driven
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	355	466
Unfunded Commitments	0	0
Long-short
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	428	432
Unfunded Commitments	0	0
Macro
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	432	516
Unfunded Commitments	0	0
Other
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	354	416
Unfunded Commitments	$ 5	$ 0

Fair Value Measurements - Gains

Fair Value Measurements - Gains or losses recorded related to fair value option (Details) - Fair Value Option - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	$ (274)	$ 486	$ 26	$ 875
Other bond securities
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	(175)	96	(376)	(3)
Alternative investments
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	(167)	428	231	845
Long-term debt
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	$ 68	$ (38)	$ 171	$ 33

Fair Value Measurements - Diffe

Fair Value Measurements - Difference between fair values fair value option (Details) - Fair Value Option - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair Value	$ 1,664	$ 1,871
Outstanding Principal Amount	1,404	1,405
Difference	$ 260	$ 466

Fair Value Measurements - Ass_2

Fair Value Measurements - Assets measured at fair value on a non-recurring basis and related impairment charges (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets	[1]	$ 16,040		$ 16,040		$ 15,668
Impairment Charges				1	$ 25
Fair value on a non-recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets		0		0		104
Total		0		0		104
Impairment Charges		0	$ 0	0	6
Fair value on a non-recurring basis | Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Charges		0	$ 0	0	$ 6
Fair value on a non-recurring basis | Asset Class to Loans Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		109		109
Fair value on a non-recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets		0		0		0
Total		0		0		0
Fair value on a non-recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets		0		0		0
Total		0		0		0
Fair value on a non-recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets		0		0		104
Total		$ 0		$ 0		$ 104
[1]See Note 8 for details of balances associated with variable interest entities.

Fair Value Measurements - Carry

Fair Value Measurements - Carrying values and estimated fair values of our financial instruments not measured at fair value (Details) - USD ($) $ in Millions		Jun. 30, 2022		Dec. 31, 2021		Jun. 30, 2021
Assets:
Mortgage and other loans receivable	[1]	$ 49,314		$ 46,048
Other invested assets	[1]	16,040		15,668
Short-term investments	[1]	9,446		13,357
Cash		2,378	[1]	2,198	[1]	$ 2,760
Other assets	[1]	13,863		14,351
Liabilities:
Fortitude Re funds withheld payable		32,970		40,771
Other liabilities	[1]	28,044		28,704
Consolidated VIE
Assets:
Mortgage and other loans receivable		2,320		2,523
Short-term investments		387		638
Cash		86		96
Other assets		262		748
Liabilities:
Other liabilities		149		844
Long-term debt		6,064		6,247
Estimated Fair Value
Assets:
Mortgage and other loans receivable		47,346		48,029
Other invested assets		839		877
Short-term investments		6,015		8,931
Cash		2,378		2,198
Other assets		69		32
Liabilities:
Policyholder contract deposits associated with investment-type contracts		141,861		143,143
Fortitude Re funds withheld payable		33,608		34,849
Other liabilities		3,481		3,704
Long-term debt		19,470		25,094
Separate account liabilities - investment contracts		82,317		104,126
Estimated Fair Value | Consolidated VIE
Liabilities:
Long-term debt		6,078		6,390
Carrying Value
Assets:
Mortgage and other loans receivable		49,205		46,033
Other invested assets		839		878
Short-term investments		6,015		8,931
Cash		2,378		2,198
Other assets		69		32
Liabilities:
Policyholder contract deposits associated with investment-type contracts		135,820		133,043
Fortitude Re funds withheld payable		33,608		34,849
Other liabilities		3,481		3,704
Long-term debt		20,522		21,870
Separate account liabilities - investment contracts		82,317		104,126
Carrying Value | Consolidated VIE
Liabilities:
Long-term debt		6,252		6,422
Level 1 | Estimated Fair Value
Assets:
Mortgage and other loans receivable		0		0
Other invested assets		0		0
Short-term investments		0		0
Cash		2,378		2,198
Other assets		57		21
Liabilities:
Policyholder contract deposits associated with investment-type contracts		0		0
Fortitude Re funds withheld payable		0		0
Other liabilities		0		0
Long-term debt		0		0
Separate account liabilities - investment contracts		0		0
Level 1 | Estimated Fair Value | Consolidated VIE
Liabilities:
Long-term debt		0		0
Level 2 | Estimated Fair Value
Assets:
Mortgage and other loans receivable		59		82
Other invested assets		833		871
Short-term investments		6,015		8,931
Cash		0		0
Other assets		12		11
Liabilities:
Policyholder contract deposits associated with investment-type contracts		142		169
Fortitude Re funds withheld payable		0		0
Other liabilities		3,481		3,704
Long-term debt		19,175		24,758
Separate account liabilities - investment contracts		82,317		104,126
Level 2 | Estimated Fair Value | Consolidated VIE
Liabilities:
Long-term debt		3,078		3,077
Level 3 | Estimated Fair Value
Assets:
Mortgage and other loans receivable		47,287		47,947
Other invested assets		6		6
Short-term investments		0		0
Cash		0		0
Other assets		0		0
Liabilities:
Policyholder contract deposits associated with investment-type contracts		141,719		142,974
Fortitude Re funds withheld payable		33,608		34,849
Other liabilities		0		0
Long-term debt		295		336
Separate account liabilities - investment contracts		0		0
Level 3 | Estimated Fair Value | Consolidated VIE
Liabilities:
Long-term debt		$ 3,000		$ 3,313
[1]See Note 8 for details of balances associated with variable interest entities.

Investments - Amortized cost or

Investments - Amortized cost or cost and fair value of available for sale securities (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2022	Dec. 31, 2021	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 252,877	$ 259,210
Allowance for credit losses		(175)	(98)	$ (191)	$ (97)	$ (122)	$ (186)
Gross Unrealized Gains		3,377	19,993
Gross Unrealized Losses		(23,344)	(1,903)
Bonds available for sale	[1]	232,735	277,202
Non-Investment Grade
Debt Securities, Available-for-sale [Line Items]
Bonds available for sale		$ 22,900	$ 27,000
Non-Investment Grade | Credit Concentration Risk | Bonds available for sale
Debt Securities, Available-for-sale [Line Items]
Concentration risk, percentage		10%	10%
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 8,524	$ 7,874
Allowance for credit losses		0	0
Gross Unrealized Gains		48	347
Gross Unrealized Losses		(426)	(27)
Bonds available for sale		8,146	8,194
Obligations of states, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		13,013	12,760
Allowance for credit losses		0	0
Gross Unrealized Gains		256	1,782
Gross Unrealized Losses		(669)	(15)
Bonds available for sale		12,600	14,527
Non-U.S. governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		15,065	15,858
Allowance for credit losses		(71)	0
Gross Unrealized Gains		123	719
Gross Unrealized Losses		(1,443)	(247)
Bonds available for sale		13,674	16,330
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		158,714	163,064
Allowance for credit losses		(77)	(89)
Gross Unrealized Gains		1,724	13,892
Gross Unrealized Losses		(17,620)	(1,259)
Bonds available for sale		142,741	175,608
Mortgage-backed, asset-backed and collateralized
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		57,561	59,654
Allowance for credit losses		(27)	(9)
Gross Unrealized Gains		1,226	3,253
Gross Unrealized Losses		(3,186)	(355)
Bonds available for sale		55,574	62,543
RMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		20,060	25,027
Allowance for credit losses		(26)	(9)
Gross Unrealized Gains		1,125	2,422
Gross Unrealized Losses		(986)	(153)
Bonds available for sale		20,173	27,287
CMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		15,740	15,333
Allowance for credit losses		0	0
Gross Unrealized Gains		67	555
Gross Unrealized Losses		(920)	(79)
Bonds available for sale		14,887	15,809
CDO/ABS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		21,761	19,294
Allowance for credit losses		(1)	0
Gross Unrealized Gains		34	276
Gross Unrealized Losses		(1,280)	(123)
Bonds available for sale		$ 20,514	$ 19,447
[1]See Note 8 for details of balances associated with variable interest entities.

Investments - Securities availa

Investments - Securities available for sale in a loss position (Details) $ in Millions	Jun. 30, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Fair Value
Fair Value, Less than 12 Months	$ 174,594	$ 58,573
Fair Value, 12 Months or More	14,161	12,293
Fair Value, Total	188,755	70,866
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	19,948	1,137
Gross Unrealized Losses, 12 Months or More	3,329	689
Gross Unrealized Losses, Total	$ 23,277	$ 1,826
Number of securities in an unrealized loss position | security	33,843	15,029
Number of individual securities in continuous unrealized loss position for longer than twelve months | security	4,273	2,644
U.S. government and government sponsored entities
Fair Value
Fair Value, Less than 12 Months	$ 6,962	$ 3,696
Fair Value, 12 Months or More	439	447
Fair Value, Total	7,401	4,143
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	387	14
Gross Unrealized Losses, 12 Months or More	39	13
Gross Unrealized Losses, Total	426	27
Obligations of states, municipalities and political subdivisions
Fair Value
Fair Value, Less than 12 Months	6,802	714
Fair Value, 12 Months or More	99	57
Fair Value, Total	6,901	771
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	641	11
Gross Unrealized Losses, 12 Months or More	28	4
Gross Unrealized Losses, Total	669	15
Non-U.S. governments
Fair Value
Fair Value, Less than 12 Months	9,110	4,644
Fair Value, 12 Months or More	1,658	1,324
Fair Value, Total	10,768	5,968
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	988	115
Gross Unrealized Losses, 12 Months or More	455	132
Gross Unrealized Losses, Total	1,443	247
Corporate debt
Fair Value
Fair Value, Less than 12 Months	109,879	31,914
Fair Value, 12 Months or More	10,125	8,819
Fair Value, Total	120,004	40,733
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	15,019	720
Gross Unrealized Losses, 12 Months or More	2,588	467
Gross Unrealized Losses, Total	17,607	1,187
RMBS
Fair Value
Fair Value, Less than 12 Months	10,351	5,362
Fair Value, 12 Months or More	914	1,154
Fair Value, Total	11,265	6,516
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	809	102
Gross Unrealized Losses, 12 Months or More	123	46
Gross Unrealized Losses, Total	932	148
CMBS
Fair Value
Fair Value, Less than 12 Months	13,057	3,980
Fair Value, 12 Months or More	230	153
Fair Value, Total	13,287	4,133
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	893	63
Gross Unrealized Losses, 12 Months or More	27	16
Gross Unrealized Losses, Total	920	79
CDO/ABS
Fair Value
Fair Value, Less than 12 Months	18,433	8,263
Fair Value, 12 Months or More	696	339
Fair Value, Total	19,129	8,602
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	1,211	112
Gross Unrealized Losses, 12 Months or More	69	11
Gross Unrealized Losses, Total	$ 1,280	$ 123

Investments - Amortized cost an

Investments - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity (Details) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Amortized Cost, Net of Allowance
Due in one year or less		$ 7,507
Due after one year through five years		49,832
Due after five years through ten years		44,844
Due after ten years		92,985
Mortgage-backed, asset-backed and collateralized		57,534
Total		252,702
Fair Value
Due in one year or less		7,478
Due after one year through five years		48,172
Due after five years through ten years		41,309
Due after ten years		80,202
Mortgage-backed, asset-backed and collateralized		55,574
Total	[1]	$ 232,735	$ 277,202
[1]See Note 8 for details of balances associated with variable interest entities.

Investments - Gross realized ga

Investments - Gross realized gains and gross realized losses from sales or maturities of available for sale securities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Gross Realized Gains	$ 186	$ 290	$ 283	$ 750
Gross Realized Losses	790	155	1,026	226
Aggregate fair value of available for sale securities sold	9,200	6,000	14,000	12,400
Net Investment Income [Line Items]
Net realized gains (losses)	(604)	135	(743)	524
Fortitude RE Funds Withheld Assets
Net Investment Income [Line Items]
Net realized gains (losses)	$ (122)	$ 95	$ (154)	$ 390

Investments - Value of other se

Investments - Value of other securities measured at fair value based on election of the fair value option (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Fair Value	[1]	$ 6,898	$ 6,278
Equity securities	[1]	629	739
Total		$ 7,527	$ 7,017
Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		100%	100%
Fixed maturity securities
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 6,898	$ 6,278
Fixed maturity securities | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		92%	89%
Fixed maturity securities | U.S. government and government sponsored entities
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 1,620	$ 1,750
Fixed maturity securities | U.S. government and government sponsored entities | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		22%	25%
Fixed maturity securities | Obligations of states, municipalities and political subdivisions
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 99	$ 97
Fixed maturity securities | Obligations of states, municipalities and political subdivisions | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		1%	1%
Fixed maturity securities | Non-U.S. governments
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 76	$ 76
Fixed maturity securities | Non-U.S. governments | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		1%	1%
Fixed maturity securities | Corporate debt
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 1,661	$ 1,050
Fixed maturity securities | Corporate debt | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		22%	15%
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 3,442	$ 3,305
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		46%	47%
Fixed maturity securities | RMBS
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 294	$ 411
Fixed maturity securities | RMBS | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		4%	6%
Fixed maturity securities | CMBS
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 321	$ 315
Fixed maturity securities | CMBS | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		4%	4%
Fixed maturity securities | CDO/ABS
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 2,827	$ 2,579
Fixed maturity securities | CDO/ABS | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		38%	37%
Equity securities
Debt and Equity Securities, FV-NI [Line Items]
Equity securities		$ 629	$ 739
Equity securities | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		8%	11%
[1]See Note 8 for details of balances associated with variable interest entities.

Investments - Carrying amounts

Investments - Carrying amounts of other invested assets (Details) - USD ($) $ in Millions		6 Months Ended	72 Months Ended
		Jun. 30, 2022	Dec. 31, 2028	Dec. 31, 2021
Investments [Line Items]
Investment real estate		$ 2,565		$ 2,727
All other investments		1,955		1,990
Other invested assets	[1]	16,040		15,668
Accumulated depreciation on investment in real estate		813		778
Fortitude Re Funds Withheld Assets
Investments [Line Items]
Other invested assets		156		100
Hedge Funds and Private Equity Funds
Investments [Line Items]
Alternative investments		11,520		10,951
Hedge Funds
Investments [Line Items]
Other invested assets		$ 1,600		2,000
Percentage available for redemption		58%
Hedge Funds | Forecast
Investments [Line Items]
Percentage available for redemption			42%
Private equity funds
Investments [Line Items]
Alternative investments		$ 8,001		6,588
Other invested assets		$ 9,900		$ 8,900
[1]See Note 8 for details of balances associated with variable interest entities.

Investments - Components of net

Investments - Components of net investment income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Investment Income [Line Items]
Total investment income	$ 2,777	$ 3,790	$ 6,169	$ 7,567
Investment expenses	173	115	328	235
Net investment income	2,604	3,675	5,841	7,332
Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	2,580	3,273	5,672	6,556
Investment expenses	164	105	310	217
Net investment income	2,416	3,168	5,362	6,339
Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	197	517	497	1,011
Investment expenses	9	10	18	18
Net investment income	188	507	479	993
Available for sale fixed maturity securities, including short-term investments
Net Investment Income [Line Items]
Total investment income	2,414	2,491	4,756	5,046
Available for sale fixed maturity securities, including short-term investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	2,147	2,130	4,188	4,308
Available for sale fixed maturity securities, including short-term investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	267	361	568	738
Other fixed maturity securities
Net Investment Income [Line Items]
Total investment income	(355)	99	(674)	(3)
Gains/(losses) recognized in earnings on hedging derivatives	(55)	35	(151)	(46)
Other fixed maturity securities | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	(175)	93	(376)	(9)
Other fixed maturity securities | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	(180)	6	(298)	6
Equity securities
Net Investment Income [Line Items]
Total investment income	(30)	(13)	(57)	9
Equity securities | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	(30)	(13)	(57)	9
Equity securities | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	0	0	0	0
Interest on mortgage and other loans
Net Investment Income [Line Items]
Total investment income	511	503	1,010	964
Interest on mortgage and other loans | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	460	446	913	860
Interest on mortgage and other loans | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	51	57	97	104
Alternative investments
Net Investment Income [Line Items]
Total investment income	165	671	905	1,312
Alternative investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	109	579	778	1,151
Alternative investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	56	92	127	161
Real estate
Net Investment Income [Line Items]
Total investment income	32	57	32	116
Real estate | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	32	57	32	116
Real estate | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	0	0	0	0
Other investments
Net Investment Income [Line Items]
Total investment income	40	(18)	197	123
Gains/(losses) recognized in earnings on hedging derivatives	41	(40)	132	43
Other investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	37	(19)	194	121
Other investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	$ 3	$ 1	$ 3	$ 2

Investments - Components of n_2

Investments - Components of net realized gains (losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Components of net realized capital gains (losses)
Sales of fixed maturity securities	$ (604)	$ 135	$ (743)	$ 524
Change in allowance for credit losses on loans	14	86	22	113
Net realized gains (losses)	3,392	(1,926)	7,811	1,324
Excluding Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized gains (losses)	702	(43)	1,943	652
Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized gains (losses)	2,690	(1,883)	5,868	672
Excluding modified coinsurance and funds withheld embedded derivative
Components of net realized capital gains (losses)
Sales of fixed maturity securities	(604)	135	(743)	524
Change in allowance for credit losses on fixed maturity securities	(48)	14	(141)	67
Foreign exchange transactions	(246)	148	(269)	93
Variable annuity embedded derivatives, net of related hedges	454	(53)	960	36
All other derivatives and hedge accounting	1,018	(276)	1,901	(42)
Sales of alternative investments and real estate investments	9	28	26	58
Other	3	59	(20)	151
Net realized gains (losses)	616	130	1,717	998
Excluding modified coinsurance and funds withheld embedded derivative | Loans Receivable
Components of net realized capital gains (losses)
Change in allowance for credit losses on loans	30	75	3	111
Excluding modified coinsurance and funds withheld embedded derivative | Excluding Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Sales of fixed maturity securities	(482)	40	(589)	134
Change in allowance for credit losses on fixed maturity securities	(47)	10	(100)	61
Foreign exchange transactions	(231)	139	(245)	90
Variable annuity embedded derivatives, net of related hedges	454	(53)	960	36
All other derivatives and hedge accounting	970	(336)	1,909	15
Sales of alternative investments and real estate investments	7	31	23	57
Other	7	59	(20)	151
Net realized gains (losses)	702	(43)	1,943	652
Excluding modified coinsurance and funds withheld embedded derivative | Excluding Fortitude Re Funds Withheld Assets | Loans Receivable
Components of net realized capital gains (losses)
Change in allowance for credit losses on loans	24	67	5	108
Excluding modified coinsurance and funds withheld embedded derivative | Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Sales of fixed maturity securities	(122)	95	(154)	390
Change in allowance for credit losses on fixed maturity securities	(1)	4	(41)	6
Foreign exchange transactions	(15)	9	(24)	3
Variable annuity embedded derivatives, net of related hedges	0	0	0	0
All other derivatives and hedge accounting	48	60	(8)	(57)
Sales of alternative investments and real estate investments	2	(3)	3	1
Other	(4)	0	0	0
Net realized gains (losses)	(86)	173	(226)	346
Excluding modified coinsurance and funds withheld embedded derivative | Fortitude Re Funds Withheld Assets | Loans Receivable
Components of net realized capital gains (losses)
Change in allowance for credit losses on loans	6	8	(2)	3
Fortitude Re funds withheld embedded derivative
Components of net realized capital gains (losses)
Net realized gains (losses)	2,776	(2,056)	6,094	326
Fortitude Re funds withheld embedded derivative | Excluding Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized gains (losses)	0	0	0	0
Fortitude Re funds withheld embedded derivative | Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized gains (losses)	$ 2,776	$ (2,056)	$ 6,094	$ 326

Investments - Schedule of chang

Investments - Schedule of changes in unrealized appreciation (depreciation) of available for sale securities and other investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (17,904)	$ 5,846	$ (38,071)	$ (5,803)
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date
Net gains (losses) recognized during the period on equity securities and other investments	(101)	530	347	1,022
Less: Net losses recognized during the period on equity securities and other investments sold during the period	(34)	(188)	57	(185)
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	(67)	718	290	1,207
Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(17,897)	5,851	(38,057)	(5,798)
Other investments
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(7)	(5)	(14)	(5)
Equity securities
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date
Net gains (losses) recognized during the period on equity securities and other investments	(30)	(13)	(57)	9
Less: Net losses recognized during the period on equity securities and other investments sold during the period	(1)	(179)	93	(200)
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	(29)	166	(150)	209
Other invested assets
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date
Net gains (losses) recognized during the period on equity securities and other investments	(71)	543	404	1,013
Less: Net losses recognized during the period on equity securities and other investments sold during the period	(33)	(9)	(36)	15
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	$ (38)	$ 552	$ 440	$ 998

Investments - Rollforward of ch

Investments - Rollforward of changes in allowance for credit losses on available for sale fixed maturity securities by major investment category (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 191	$ 122	$ 98	$ 186
Securities for which allowance for credit losses were not previously recorded	30	21	207	36
Securities sold during the period	(41)	(5)	(42)	(10)
Addition to (release of) the allowance for credit losses on securities that had an allowance recorded in a previous period, for which there was no intent to sell before recovery of amortized cost basis	18	(35)	(66)	(103)
Write-offs charged against the allowance	(22)	(6)	(22)	(12)
Other	(1)	0	0	0
Balance, end of period	175	97	175	97
Structured
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	15	14	8	17
Securities for which allowance for credit losses were not previously recorded	2	6	51	8
Securities sold during the period	(1)	(2)	(1)	(3)
Addition to (release of) the allowance for credit losses on securities that had an allowance recorded in a previous period, for which there was no intent to sell before recovery of amortized cost basis	10	(8)	(32)	(12)
Write-offs charged against the allowance	0	0	0	0
Other	0	0	0	0
Balance, end of period	26	10	26	10
Non-Structured
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	176	108	90	169
Securities for which allowance for credit losses were not previously recorded	28	15	156	28
Securities sold during the period	(40)	(3)	(41)	(7)
Addition to (release of) the allowance for credit losses on securities that had an allowance recorded in a previous period, for which there was no intent to sell before recovery of amortized cost basis	8	(27)	(34)	(91)
Write-offs charged against the allowance	(22)	(6)	(22)	(12)
Other	(1)	0	0	0
Balance, end of period	$ 149	$ 87	$ 149	$ 87

Investments - Pledged investmen

Investments - Pledged investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financial Instruments Owned and Pledged as Collateral [Line Items]
Fixed maturity securities available for sale	$ 2,937	$ 3,583
Amounts borrowed under repurchase and securities lending agreements	3,500	3,700
Securities pledged under repurchase agreements	322	259
Securities pledged under securities lending agreements	2,615	3,324
Securities collateral pledged to us	411	1,839
Carrying value of reverse repurchase agreements	409	1,900
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	12,100	13,500
Loans	49,917	46,677
Bonds available for sale and short-term investments held in escrow	571	514
Asset Pledged as Collateral
Financial Instruments Owned and Pledged as Collateral [Line Items]
Fixed maturity securities available for sale	4,800	5,100
Loans	2,000	1,500
Other bond securities, at fair value	1,500	1,400
Overnight and Continuous
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	261	176
Securities pledged under securities lending agreements	0	0
up to 30 days
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	61	61
Securities pledged under securities lending agreements	2,470	534
31 - 90 days
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	22
Securities pledged under securities lending agreements	145	2,790
91 - 364 days
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Securities pledged under securities lending agreements	0	0
365 days or greater
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Securities pledged under securities lending agreements	0	0
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	197	106
Bonds available for sale | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	42	48
Securities pledged under securities lending agreements	470	43
Bonds available for sale | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	280	211
Securities pledged under securities lending agreements	1,948	3,175
Bonds available for sale | Overnight and Continuous | Obligations of states, municipalities and political subdivisions
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0	0
Bonds available for sale | Overnight and Continuous | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	42	48
Securities pledged under securities lending agreements	0	0
Bonds available for sale | Overnight and Continuous | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	219	128
Securities pledged under securities lending agreements	0	0
Bonds available for sale | up to 30 days | Obligations of states, municipalities and political subdivisions
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	197	0
Bonds available for sale | up to 30 days | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Securities pledged under securities lending agreements	457	0
Bonds available for sale | up to 30 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	61	61
Securities pledged under securities lending agreements	1,816	534
Bonds available for sale | 31 - 90 days | Obligations of states, municipalities and political subdivisions
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0	106
Bonds available for sale | 31 - 90 days | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Securities pledged under securities lending agreements	13	43
Bonds available for sale | 31 - 90 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	22
Securities pledged under securities lending agreements	132	2,641
Bonds available for sale | 91 - 364 days | Obligations of states, municipalities and political subdivisions
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0	0
Bonds available for sale | 91 - 364 days | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Securities pledged under securities lending agreements	0	0
Bonds available for sale | 91 - 364 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Securities pledged under securities lending agreements	0	0
Bonds available for sale | 365 days or greater | Obligations of states, municipalities and political subdivisions
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0	0
Bonds available for sale | 365 days or greater | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Securities pledged under securities lending agreements	0	0
Bonds available for sale | 365 days or greater | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Securities pledged under securities lending agreements	0	0
Other bond securities | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | Overnight and Continuous | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | Overnight and Continuous | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | up to 30 days | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | up to 30 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | 31 - 90 days | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | 31 - 90 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | 91 - 364 days | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | 91 - 364 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | 365 days or greater | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
Other bond securities | 365 days or greater | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under securities lending agreements	0
FHLBs
Financial Instruments Owned and Pledged as Collateral [Line Items]
Federal Home Loan Bank stock	$ 213	$ 211

Lending Activities - Compositio

Lending Activities - Composition of mortgages and other loans receivable (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2022	Dec. 31, 2021	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		$ 49,917	$ 46,677
Allowance for credit losses		(603)	(629)	$ (617)	$ (701)	$ (787)	$ (814)
Mortgage and other loans receivable, net	[1]	49,314	46,048
Off-balance-sheet commitments		89	71
Commercial mortgage loans
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		37,205	35,665
Allowance for credit losses		(525)	(545)	$ (533)	(587)	$ (662)	$ (685)
Off-balance-sheet commitments		89			$ 81
Loans on nonacrrual status		337	226
Accrued interest receivable		$ 134	$ 126
Commercial mortgage loans | Geographic Concentration Risk | Interest on mortgage and other loans | New York
Composition of Mortgages and other loans receivable
Percentage of mortgage loans in geographic area		20%	21%
Commercial mortgage loans | Geographic Concentration Risk | Interest on mortgage and other loans | California
Composition of Mortgages and other loans receivable
Percentage of mortgage loans in geographic area		12%	10%
Residential mortgages
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		$ 5,720	$ 5,492
Loans on nonacrrual status		8	7
Accrued interest receivable		13	12
Life insurance policy loans
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		1,787	1,843
Commercial loans, other loans and notes receivable
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		5,205	3,677
Loans held for sale		$ 186	$ 15
[1]See Note 8 for details of balances associated with variable interest entities.

Lending Activities - Credit qua

Lending Activities - Credit quality of commercial mortgages (Details) $ in Millions	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 49,917	$ 46,677
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	3,861	2,820
2021	3,001	2,708
2020	2,686	5,897
2019	5,656	5,989
2018	5,752	3,734
Prior	16,249	14,517
Total	$ 37,205	$ 35,665
Weighted average debt service coverage ratio	1.9
Weighted average loan-to-value ratio (as a percent)	57%	57%
Less than 65% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 3,330	$ 2,286
2021	2,408	2,272
2020	2,227	4,149
2019	3,960	4,815
2018	4,560	2,892
Prior	11,210	9,902
Total	27,695	26,316
65% to 75% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	531	372
2021	447	410
2020	398	1,748
2019	1,659	1,174
2018	1,162	406
Prior	3,455	3,490
Total	7,652	7,600
76% to 80% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	114	0
2020	0	0
2019	0	0
2018	30	188
Prior	468	274
Total	612	462
Greater than 80% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	162
2021	32	26
2020	61	0
2019	37	0
2018	0	248
Prior	1,116	851
Total	1,246	1,287
Greater than 1.2X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	3,687	2,245
2021	2,347	1,662
2020	1,671	5,126
2019	5,032	3,926
2018	4,002	3,557
Prior	13,827	10,796
Total	30,566	27,312
1.00 - 1.20X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	174	574
2021	654	1,019
2020	992	700
2019	553	1,138
2018	1,137	136
Prior	1,214	1,929
Total	4,724	5,496
Less than 1.00X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	1
2021	0	27
2020	23	71
2019	71	925
2018	613	41
Prior	1,208	1,792
Total	$ 1,915	$ 2,857

Lending Activities - Credit q_2

Lending Activities - Credit quality performance indicators for commercial mortgages (Details) $ in Millions	Jun. 30, 2022 USD ($) loan	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) loan	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 49,917		$ 46,677
Allowance for credit losses	$ 603	$ 617	$ 629	$ 701	$ 787	$ 814
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	644		649
Total	$ 37,205		$ 35,665
Allowance for credit losses	$ 525	$ 533	$ 545	$ 587	$ 662	$ 685
Percent of Total	100%		100%
Percentage of total, allowance for credit losses	1%		2%
Commercial mortgage loans | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	631		636
Total	$ 36,462		$ 35,015
Percent of Total	98%		98%
Commercial mortgage loans | Restructured
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	10		8
Total	$ 630		$ 515
Percent of Total	2%		2%
Commercial mortgage loans | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	0		0
Total	$ 0		$ 0
Percent of Total	0%		0%
Commercial mortgage loans | >90 days delinquent or in process of foreclosure
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	3		5
Total	$ 113		$ 135
Percent of Total	0%		0%
Commercial mortgage loans | Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 13,706		$ 14,267
Allowance for credit losses	88		109
Commercial mortgage loans | Apartments | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	13,706		14,267
Commercial mortgage loans | Apartments | Restructured
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Apartments | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Apartments | >90 days delinquent or in process of foreclosure
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Offices
Financing Receivable, Credit Quality Indicator [Line Items]
Total	10,931		10,130
Allowance for credit losses	230		247
Commercial mortgage loans | Offices | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	10,513		9,695
Commercial mortgage loans | Offices | Restructured
Financing Receivable, Credit Quality Indicator [Line Items]
Total	353		354
Commercial mortgage loans | Offices | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Offices | >90 days delinquent or in process of foreclosure
Financing Receivable, Credit Quality Indicator [Line Items]
Total	65		81
Commercial mortgage loans | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,478		4,857
Allowance for credit losses	98		103
Commercial mortgage loans | Retail | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,290		4,778
Commercial mortgage loans | Retail | Restructured
Financing Receivable, Credit Quality Indicator [Line Items]
Total	140		25
Commercial mortgage loans | Retail | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Retail | >90 days delinquent or in process of foreclosure
Financing Receivable, Credit Quality Indicator [Line Items]
Total	48		54
Commercial mortgage loans | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	5,505		3,858
Allowance for credit losses	67		47
Commercial mortgage loans | Industrial | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	5,505		3,858
Commercial mortgage loans | Industrial | Restructured
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Industrial | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Industrial | >90 days delinquent or in process of foreclosure
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Hotel
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,192		2,121
Allowance for credit losses	33		31
Commercial mortgage loans | Hotel | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,055		1,985
Commercial mortgage loans | Hotel | Restructured
Financing Receivable, Credit Quality Indicator [Line Items]
Total	137		136
Commercial mortgage loans | Hotel | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Hotel | >90 days delinquent or in process of foreclosure
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Others
Financing Receivable, Credit Quality Indicator [Line Items]
Total	393		432
Allowance for credit losses	9		8
Commercial mortgage loans | Others | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	393		432
Commercial mortgage loans | Others | Restructured
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Others | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Others | >90 days delinquent or in process of foreclosure
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 0		$ 0

Lending Activities - Credit q_3

Lending Activities - Credit quality of residential mortgages (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 49,917	$ 46,677
Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
2022	407	2,956
2021	3,104	964
2020	879	408
2019	340	167
2018	128	274
Prior	862	723
Total	5,720	5,492
780 and greater | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
2022	199	1,601
2021	2,266	691
2020	674	297
2019	243	107
2018	83	192
Prior	596	501
Total	4,061	3,389
720 - 779 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
2022	200	1,306
2021	752	230
2020	174	86
2019	78	44
2018	33	58
Prior	177	154
Total	1,414	1,878
660 - 719 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
2022	8	48
2021	82	42
2020	29	22
2019	16	12
2018	10	20
Prior	66	49
Total	211	193
600 - 659 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	1
2021	4	1
2020	2	2
2019	2	3
2018	2	2
Prior	16	12
Total	26	21
Less than 600 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0	0
2021	0	0
2020	0	1
2019	1	1
2018	0	2
Prior	7	7
Total	$ 8	$ 11

Lending Activities - Rollforwar

Lending Activities - Rollforward of the changes in the allowance for credit losses on Mortgage and other loans receivable (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	$ 617	$ 787	$ 629	$ 814
Loans charged off	0	0	(4)	0
Net charge-offs	0	0	(4)	0
Addition to (release of) allowance for loan losses	(14)	(86)	(22)	(113)
Allowance, end of period	603	701	603	701
Off-balance-sheet commitments	89		89		$ 71
Loans modified in a troubled debt restructuring	115	46	115	46
Commercial mortgage loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	533	662	545	685
Loans charged off	0	0	(4)	0
Net charge-offs	0	0	(4)	0
Addition to (release of) allowance for loan losses	(8)	(75)	(16)	(98)
Allowance, end of period	525	587	525	587
Off-balance-sheet commitments	89	81	89	81
Other loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	84	125	84	129
Loans charged off	0	0	0	0
Net charge-offs	0	0	0	0
Addition to (release of) allowance for loan losses	(6)	(11)	(6)	(15)
Allowance, end of period	$ 78	$ 114	$ 78	$ 114

Reinsurance - Summary of the co

Reinsurance - Summary of the composition of pool of assets (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Effects of Reinsurance [Line Items]
Bonds available for sale	[1]	$ 232,735		$ 277,202
Fixed maturity securities - fair value option	[1]	6,898		6,278
Loans		49,917		46,677
Investment real estate		2,565		2,727
Short-term investments	[1]	9,446		13,357
Derivative assets net, carrying value		357		843
Derivative assets, net, fair value		7,137		5,761
Other assets	[1]	13,863		14,351
Total assets		538,938		596,112
Carrying Value
Effects of Reinsurance [Line Items]
Short-term investments		6,015		8,931
Other assets		69		32
Hedge Funds and Private Equity Funds
Effects of Reinsurance [Line Items]
Fair Value Using NAV Per Share (or its equivalent)		11,520		10,951
Commercial mortgage loans
Effects of Reinsurance [Line Items]
Loans		37,205		35,665
Policy loans
Effects of Reinsurance [Line Items]
Loans		1,787		1,843
Fortitude Holdings
Effects of Reinsurance [Line Items]
Change in net unrealized gains (losses), gross		(6,100)	$ (1,600)
Change in net unrealized gains (losses), net of tax		(4,800)	$ (1,300)
Derivative asset, Fair value of collateral		369		389
Derivative liability, Fair value of collateral		20		10
Fortitude Holdings | Carrying Value
Effects of Reinsurance [Line Items]
Bonds available for sale		21,982		31,815
Fixed maturity securities - fair value option		3,309		1,983
Investment real estate		168		201
Short-term investments		135		50
Funds withheld investment assets		31,878		39,672
Derivative assets net, carrying value		94		81
Other assets		860		602
Total assets		32,832		40,355
Fortitude Holdings | Estimated Fair Value
Effects of Reinsurance [Line Items]
Bonds available for sale		21,982		31,815
Fixed maturity securities - fair value option		3,309		1,983
Investment real estate		422		395
Short-term investments		135		50
Funds withheld investment assets		32,016		40,088
Derivative assets, net, fair value		94		81
Other, fair value		860		602
Total		32,970		40,771
Fortitude Holdings | Hedge Funds and Private Equity Funds | Carrying Value
Effects of Reinsurance [Line Items]
Fair Value Using NAV Per Share (or its equivalent)		1,794		1,606
Fortitude Holdings | Hedge Funds and Private Equity Funds | Estimated Fair Value
Effects of Reinsurance [Line Items]
Fair Value Using NAV Per Share (or its equivalent)		1,794		1,606
Fortitude Holdings | Commercial mortgage loans | Carrying Value
Effects of Reinsurance [Line Items]
Loans		4,126		3,637
Fortitude Holdings | Commercial mortgage loans | Estimated Fair Value
Effects of Reinsurance [Line Items]
Loans, fair value		4,010		3,859
Fortitude Holdings | Policy loans | Carrying Value
Effects of Reinsurance [Line Items]
Loans		364		380
Fortitude Holdings | Policy loans | Estimated Fair Value
Effects of Reinsurance [Line Items]
Loans, fair value		$ 364		$ 380
[1]See Note 8 for details of balances associated with variable interest entities.

Reinsurance - Summary of the im

Reinsurance - Summary of the impact of funds withheld (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Effects of Reinsurance [Line Items]
Total net investment income	$ 2,604	$ 3,675	$ 5,841	$ 7,332
Total net realized gains (losses)	3,392	(1,926)	7,811	1,324
Income from continuing operations before income tax expense (benefit)	4,321	147	10,156	4,875
Income tax expense (benefit)	928	(3)	2,107	795
Net income	3,392	150	8,048	4,080
Change in unrealized depreciation of all other investments			3,238	1,267
Comprehensive income (loss)	(9,375)	3,892	(18,367)	777
Fortitude Re funds withheld assets
Effects of Reinsurance [Line Items]
Total net investment income	188	507	479	993
Fortitude Holdings
Effects of Reinsurance [Line Items]
Net underwriting income	0	0	0	0
Total net investment income	188	507	479	993
Total net realized gains (losses)	2,690	(1,883)	5,868	672
Income from continuing operations before income tax expense (benefit)	2,878	(1,376)	6,347	1,665
Income tax expense (benefit)	605	(289)	1,333	350
Net income	2,273	(1,087)	5,014	1,315
Comprehensive income (loss)	117	(32)	220	30
Fortitude Holdings | Fortitude Re funds withheld assets
Effects of Reinsurance [Line Items]
Total net realized gains (losses)	(86)	173	(226)	346
Fortitude Holdings | Fortitude Re funds withheld assets | Embedded derivatives
Effects of Reinsurance [Line Items]
Total net realized gains (losses)	2,776	(2,056)	6,094	326
Fortitude Holdings | Other investments
Effects of Reinsurance [Line Items]
Change in unrealized depreciation of all other investments	$ (2,156)	$ 1,055	$ (4,794)	$ (1,285)

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Billions	Jun. 30, 2022	Dec. 31, 2021
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 76.6	$ 76.3
Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	92%	92%
Investment Grade | General Insurance
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	53%	52%
Investment Grade | Life and Retirement
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	39%	40%
Non-Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	7%	7%
Non-Investment Grade | Captive Insurers
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	72%	71%
Non-Investment Grade | Life and Retirement
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	1%	1%
Not Rated
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	1%	1%

Reinsurance - Rollforward of th

Reinsurance - Rollforward of the reinsurance recoverable allowance for credit losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 391	$ 378	$ 382	$ 375
Addition to (release of) allowance for expected credit losses and disputes, net	(2)	(1)	7	4
Write-offs charged against the allowance for credit losses and disputes	0	(3)	(2)	(7)
Recoveries of amounts previously written off	2	0	2	0
Other changes	0	0	2	2
Balance, end of period	391	374	391	374
General Insurance
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	286	291	281	292
Addition to (release of) allowance for expected credit losses and disputes, net	(4)	(1)	1	0
Write-offs charged against the allowance for credit losses and disputes	0	(3)	(2)	(7)
Recoveries of amounts previously written off	2	0	2	0
Other changes	0	0	2	2
Balance, end of period	284	287	284	287
Life and Retirement
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	105	87	101	83
Addition to (release of) allowance for expected credit losses and disputes, net	2	0	6	4
Write-offs charged against the allowance for credit losses and disputes	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Other changes	0	0	0	0
Balance, end of period	$ 107	$ 87	$ 107	$ 87

Variable Interest Entities - Co

Variable Interest Entities - Consolidated VIEs (Details) - USD ($) $ in Millions		Jun. 30, 2022		Dec. 31, 2021		Jun. 30, 2021
Assets:
Bonds available for sale	[1]	$ 232,735		$ 277,202
Other bond securities	[1]	6,898		6,278
Equity securities	[1]	629		739
Mortgage and other loans receivable	[1]	49,314		46,048
Investment real estate		2,565		2,727
Short-term investments	[1]	9,446		13,357
Cash		2,378	[1]	2,198	[1]	$ 2,760
Accrued investment income	[1]	2,232		2,239
Other assets	[1]	13,863		14,351
Total assets		538,938		596,112
Liabilities:
Other	[1]	28,044		28,704
Total liabilities		492,114		527,200
Real Estate and Investment Entities
Liabilities:
Off-balance sheet exposure associated with VIEs		2,400		2,200
Real Estate and Investment Entities | External parties
Liabilities:
Off-balance sheet exposure associated with VIEs		600		600
Consolidated VIE
Assets:
Bonds available for sale		5,359		5,543
Other bond securities		1,442		1,852
Equity securities		55		223
Mortgage and other loans receivable		2,320		2,523
Alternative investments		2,901		3,017
Investment real estate		2,145		2,257
Short-term investments		387		638
Cash		86		96
Accrued investment income		17		17
Other assets		262		748
Total assets		14,974		16,914
Liabilities:
Long-term debt		6,064		6,247
Other		149		844
Total liabilities		6,213		7,091
Consolidated VIE | Real Estate and Investment Entities
Assets:
Bonds available for sale		0		0
Other bond securities		0		0
Equity securities		55		223
Mortgage and other loans receivable		0		0
Alternative investments		2,901		3,017
Investment real estate		2,145		2,257
Short-term investments		245		487
Cash		86		96
Accrued investment income		0		0
Other assets		165		190
Total assets		5,597		6,270
Liabilities:
Long-term debt		1,633		1,743
Other		107		122
Total liabilities		1,740		1,865
Consolidated VIE | Securitization Vehicles
Assets:
Bonds available for sale		5,359		5,543
Other bond securities		1,442		1,852
Equity securities		0		0
Mortgage and other loans receivable		2,320		2,523
Alternative investments		0		0
Investment real estate		0		0
Short-term investments		142		151
Cash		0		0
Accrued investment income		17		17
Other assets		97		558
Total assets		9,377		10,644
Liabilities:
Long-term debt		4,431		4,504
Other		42		722
Total liabilities		$ 4,473		$ 5,226
[1]See Note 8 for details of balances associated with variable interest entities.

Variable Interest Entities - Un

Variable Interest Entities - Unconsolidated VIEs (Details) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
VARIABLE INTEREST ENTITY
Total VIE Assets		$ 538,938	$ 596,112
Other invested assets	[1]	16,040	15,668
Real Estate and Investment Entities
VARIABLE INTEREST ENTITY
Maximum Exposure to Loss, Off-Balance Sheet		2,400	2,200
Unconsolidated VIE
VARIABLE INTEREST ENTITY
Total VIE Assets		502,138	459,073
Maximum Exposure to Loss, On-Balance Sheet		8,406	7,887
Maximum Exposure to Loss, Off-Balance Sheet		4,312	3,976
Total		12,718	11,863
Other invested assets		8,300	7,800
Unconsolidated VIE | Real Estate and Investment Entities
VARIABLE INTEREST ENTITY
Total VIE Assets		500,408	457,335
Maximum Exposure to Loss, On-Balance Sheet		8,134	7,650
Maximum Exposure to Loss, Off-Balance Sheet		3,668	3,448
Total		11,802	11,098
Unconsolidated VIE | Other Investment Companies
VARIABLE INTEREST ENTITY
Total VIE Assets		1,730	1,738
Maximum Exposure to Loss, On-Balance Sheet		272	237
Maximum Exposure to Loss, Off-Balance Sheet		644	528
Total		$ 916	$ 765
[1]See Note 8 for details of balances associated with variable interest entities.

Derivatives and Hedge Account_3

Derivatives and Hedge Accounting - Notional amounts and fair values of derivative instruments (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Gross Derivative Assets
Notional Amount	$ 147,560,000,000	$ 136,508,000,000
Fair Value	7,137,000,000	5,761,000,000
Counterparty netting	(4,354,000,000)	(2,779,000,000)
Cash Collateral	(2,426,000,000)	(2,139,000,000)
Total derivative assets	357,000,000	843,000,000
Gross Derivative Liabilities
Notional Amount	68,979,000,000	65,130,000,000
Fair Value	7,052,000,000	4,454,000,000
Counterparty netting	(4,354,000,000)	(2,779,000,000)
Cash Collateral	(2,418,000,000)	(1,089,000,000)
Total derivative liabilities on consolidated balance sheet	280,000,000	586,000,000
Bifurcated embedded derivatives assets, fair value	600,000,000	0
Bifurcated embedded derivative liabilities, fair value	7,000,000,000	14,500,000,000
Derivatives designated as hedging instruments | Interest rate contracts
Gross Derivative Assets
Notional Amount	85,000,000	265,000,000
Fair Value	2,000,000	5,000,000
Gross Derivative Liabilities
Notional Amount	925,000,000	895,000,000
Fair Value	35,000,000	11,000,000
Derivatives designated as hedging instruments | Foreign exchange contracts
Gross Derivative Assets
Notional Amount	8,027,000,000	5,431,000,000
Fair Value	870,000,000	467,000,000
Gross Derivative Liabilities
Notional Amount	1,956,000,000	5,828,000,000
Fair Value	217,000,000	197,000,000
Derivatives not designated as hedging instruments | Interest rate contracts
Gross Derivative Assets
Notional Amount	49,436,000,000	47,499,000,000
Fair Value	4,609,000,000	3,868,000,000
Gross Derivative Liabilities
Notional Amount	56,712,000,000	42,113,000,000
Fair Value	6,272,000,000	3,622,000,000
Derivatives not designated as hedging instruments | Foreign exchange contracts
Gross Derivative Assets
Notional Amount	13,408,000,000	7,905,000,000
Fair Value	1,243,000,000	722,000,000
Gross Derivative Liabilities
Notional Amount	3,639,000,000	9,997,000,000
Fair Value	431,000,000	524,000,000
Derivatives not designated as hedging instruments | Equity contracts
Gross Derivative Assets
Notional Amount	29,116,000,000	27,423,000,000
Fair Value	387,000,000	681,000,000
Gross Derivative Liabilities
Notional Amount	4,710,000,000	5,091,000,000
Fair Value	53,000,000	53,000,000
Derivatives not designated as hedging instruments | Commodity contracts
Gross Derivative Assets
Notional Amount	271,000,000	303,000,000
Fair Value	9,000,000	4,000,000
Gross Derivative Liabilities
Notional Amount	104,000,000	219,000,000
Fair Value	0	0
Derivatives not designated as hedging instruments | Credit contracts
Gross Derivative Assets
Notional Amount	1,789,000,000	3,790,000,000
Fair Value	1,000,000	1,000,000
Gross Derivative Liabilities
Notional Amount	933,000,000	936,000,000
Fair Value	44,000,000	47,000,000
Derivatives not designated as hedging instruments | Credit contracts | CDS
Gross Derivative Liabilities
Notional Amount	93,000,000	97,000,000
Fair Value	32,000,000	30,000,000
Derivatives not designated as hedging instruments | Other contracts
Gross Derivative Assets
Notional Amount	45,428,000,000	43,892,000,000
Fair Value	16,000,000	13,000,000
Gross Derivative Liabilities
Notional Amount	0	51,000,000
Fair Value	$ 0	$ 0

Derivatives and Hedge Account_4

Derivatives and Hedge Accounting - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Credit derivatives:
Collateral posted	$ 3,800		$ 3,800		$ 2,700
Collateral obtained from third parties for derivative transactions	2,500		2,500		2,400
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	220	$ 5	307	$ 106
Fair value of hybrid securities	1,500		1,500		2,000
Par value of hybrid securities	4,400		4,400		4,600
Credit Risk Related Contingent Features
Credit derivatives:
Collateral posted	120		120		239
Additional collateral postings and termination payments	19		19
Aggregate fair value of net liability position	$ 104		$ 104		$ 206

Derivatives and Hedge Account_5

Derivatives and Hedge Accounting - Fair value hedging relationships (Details) - Derivatives designated as hedging instruments - Fair value hedging - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest rate contracts | Interest credited to policyholder account balances
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	$ (7)	$ (3)	$ (28)	$ (7)
Gains/(losses) recognized in earnings for excluded components	0	0	0	0
Gain (losses) recognized in earnings on hedged items	8	1	31	7
Net Impact	1	(2)	3	0
Interest rate contracts | Net investment income
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	0	(1)	1	7
Gains/(losses) recognized in earnings for excluded components	0	0	0	0
Gain (losses) recognized in earnings on hedged items	0	0	(1)	(7)
Net Impact	0	(1)	0	0
Foreign exchange contracts | Net realized gains/(losses)
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	325	(36)	434	(4)
Gains/(losses) recognized in earnings for excluded components	98	107	140	78
Gain (losses) recognized in earnings on hedged items	(325)	36	(434)	4
Net Impact	$ 98	$ 107	$ 140	$ 78

Derivatives and Hedge Account_6

Derivatives and Hedge Accounting - Derivatives not designated as hedging instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net realized gains/(losses) | Fortitude Re funds withheld assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ 2,824	$ (1,996)	$ 6,086	$ 269
Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	4,255	(2,356)	8,972	342
Derivatives not designated as hedging instruments | Policy fees
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	15	15	30	30
Derivatives not designated as hedging instruments | Net investment income
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	3	7	2	(5)
Derivatives not designated as hedging instruments | Net realized gains/(losses) | Excluding Fortitude Re Funds Withheld Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	1,420	(388)	2,868	52
Derivatives not designated as hedging instruments | Policyholder benefits and claims incurred
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(7)	6	(14)	(4)
Derivatives not designated as hedging instruments | Interest rate contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(869)	856	(1,482)	(689)
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	730	48	966	(39)
Derivatives not designated as hedging instruments | Equity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	78	(32)	(126)	(551)
Derivatives not designated as hedging instruments | Commodity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(3)	1	(7)	1
Derivatives not designated as hedging instruments | Credit contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	0	(4)	(1)	(9)
Derivatives not designated as hedging instruments | Other contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	13	17	31	32
Derivatives not designated as hedging instruments | Embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ 4,306	$ (3,242)	$ 9,591	$ 1,597

Insurance Liabilities - Narrati

Insurance Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jan. 20, 2017
Liability for Future Policy Benefit, by Product Segment [Line Items]
Contractual deductible recoverable amount	$ 12,100		$ 12,100		$ 12,300
Collateral held for deductible recoverable amounts	8,500		8,500		8,600
Liability for unpaid losses and loss adjustment expenses, allowance for credit losses	14		14		14
Prior years, excluding discount and amortization of deferred gain	374	$ 29	425	$ 13
Net loss reserve discount	939		$ 939		876
Tabular discount rate (as a percent)			45%
Workers compensation tabular discount amount	272		$ 272		260
Workers compensation non tabular discount amount	667		667		$ 616
Net loss reserve discount charge	(14)	(22)	6	10
NICO
Liability for Future Policy Benefit, by Product Segment [Line Items]
Amortization of deferred gain on retroactive reinsurance	$ (34)	$ 21	$ 4	$ 76
New York
Liability for Future Policy Benefit, by Product Segment [Line Items]
Nontabular discount rate (as a percent)			5%
U.S. Run-Off Long Tail Insurance Lines | Accident Years 2015 and Prior | NICO
Liability for Future Policy Benefit, by Product Segment [Line Items]
Risk Transferred - U.S. Commercial long-tail exposures for accident years 2015 and prior (as a percent)						80%
Ceded to NICO percent of paid losses (as a percent)						80%
Ceded to NICO net paid losses in excess						$ 25,000
Ceded to NICO net paid losses in excess, aggregate limit						25,000
NICO's limit of liability under the contract						20,000
Consideration paid, including interest						$ 10,200

Insurance Liabilities - Liabili

Insurance Liabilities - Liability for unpaid losses and loss adjustment expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid loss and loss adjustment expenses, beginning of period	$ 78,183	$ 78,832	$ 79,026	$ 77,720
Reinsurance recoverable	(34,321)	(35,271)	(35,213)	(34,431)
Net Liability for unpaid loss and loss adjustment expenses, beginning of period	43,862	43,561	43,813	43,289
Losses and loss adjustment expenses incurred:
Current year	3,765	3,870	7,647	7,795
Prior years, excluding discount and amortization of deferred gain	(374)	(29)	(425)	(13)
Prior years, discount charge (benefit)	38	34	42	16
Prior years, amortization of deferred gain on retroactive reinsurance	28	(22)	(14)	(94)
Total losses and loss adjustment expenses incurred	3,457	3,853	7,250	7,704
Losses and loss adjustment expenses paid:
Current year	(834)	(895)	(1,157)	(1,223)
Prior years	(2,729)	(2,620)	(6,171)	(6,204)
Total losses and loss adjustment expenses paid	(3,563)	(3,515)	(7,328)	(7,427)
Other changes:
Foreign exchange effect	(800)	113	(796)	357
Retroactive reinsurance adjustment (net of discount)	200	103	217	192
Total other changes	(600)	216	(579)	549
Net liability for unpaid losses and loss adjustment expenses	43,156	44,115	43,156	44,115
Reinsurance recoverable	33,583	34,866	33,583	34,866
Total	76,739	78,981	76,739	78,981
Change in discount on loss reserves ceded under retroactive reinsurance	18	17	57	56
National Indemnity Company
Losses and loss adjustment expenses incurred:
Prior years, amortization of deferred gain on retroactive reinsurance	$ 6	$ 1	$ 10	$ 18

Insurance Liabilities - Discoun

Insurance Liabilities - Discounting of reserves (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Discounting of Reserves [Line Items]
U.S. workers' compensation	$ 1,835,000,000	$ 1,829,000,000
Retroactive reinsurance	(896,000,000)	(953,000,000)
Total reserve discount	939,000,000	876,000,000
Fortitude RE
Discounting of Reserves [Line Items]
Total reserve discount	$ 487,000,000	$ 500,000,000
Discount ceded on sale (as a percent)	100%	100%
United Kingdom
Discounting of Reserves [Line Items]
Total reserve discount	$ 111,000,000	$ 116,000,000

Insurance Liabilities - Net los

Insurance Liabilities - Net loss reserve discount benefit (charge) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Loss Reserve Discount Benefit (Charge) [Line Items]
Current accident year	$ 24	$ 12	$ 48	$ 26
Accretion and other adjustments to prior year discount	(38)	(34)	(42)	(16)
Net reserve discount benefit (charge)	(14)	(22)	6	10
Change in discount on loss reserves ceded under retroactive reinsurance	18	17	57	56
Net change in total reserve discount	4	(5)	63	66
United Kingdom
Net Loss Reserve Discount Benefit (Charge) [Line Items]
Net change in total reserve discount	$ 7	$ (2)	$ 5	$ (9)

Contingencies, Commitments an_2

Contingencies, Commitments and Guarantees (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Amount of policy issued to plaintiff's	$ 1,000,000
Other commitments	7,300,000,000	$ 7,300,000,000
Financial Standby Letter of Credit
LITIGATION, INVESTIGATIONS AND REGULATORY MATTERS DISCLOSURE
Amount outstanding under standby letters of credit at end of period	$ 70,000,000

Equity - Preferred Stock (Detai

Equity - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 15, 2022	Mar. 15, 2022	Jun. 15, 2021	Mar. 15, 2021	Mar. 14, 2019	Jun. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)						$ 5	$ 5
Series A Preferred Stock
Class of Stock [Line Items]
Issuances (in shares)					20,000
Preferred stock, dividend rate (as a percent)					5.85%
Preferred stock, par value (in dollars per share)					$ 5
Preferred stock liquidation preference (in dollars per share)					$ 25,000
Issuance of preferred stock					$ 485
Dividends paid (in dollars per share)	$ 365.625	$ 365.625	$ 365.625	$ 365.625
Series A Depositary Shares
Class of Stock [Line Items]
Issuances (in shares)					20,000,000
Preferred stock liquidation preference (in dollars per share)					$ 25
Dividends paid (in dollars per share)	$ 0.365625	$ 0.365625	$ 0.365625	$ 0.365625

Equity - Common stock, dividend

Equity - Common stock, dividends and repurchases of common stock (Details) - USD ($) $ / shares in Units, $ in Millions					1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 29, 2021	Mar. 30, 2021	Aug. 03, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares, beginning of year (in shares)					1,906,671,492			1,906,671,492
Shares, beginning of year (in shares)					(1,135,399,976)			(1,087,984,129)
Shares, beginning of year					771,271,516			818,687,363
Shares issued (in shares)								5,126,759
Shares repurchased (in shares)								(52,542,606)	(13,000,000)
Shares, end of period (in shares)	1,906,671,492					1,906,671,492		1,906,671,492
Shares, end of period (in shares)	(1,135,399,976)					(1,135,399,976)		(1,135,399,976)
Shares, end of period	771,271,516					771,271,516		771,271,516
Dividend paid (in dollars per share)	$ 0.32	$ 0.32	$ 0.32	$ 0.32
Aggregate repurchases of common stock						$ 1,699	$ 230	$ 3,102	$ 592
Total number of common shares repurchased (in shares)								52,542,606	13,000,000
Subsequent event
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares repurchased (in shares)					(11,000,000)
Aggregate repurchases of common stock					$ 556
Total number of common shares repurchased (in shares)					11,000,000
Exchange Act 10b5-1 Plan
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from warrant exercises									$ 92
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares, beginning of year (in shares)					1,906,671,492			1,906,671,492
Shares, end of period (in shares)	1,906,671,492					1,906,671,492		1,906,671,492
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares, beginning of year (in shares)					(1,135,399,976)			(1,087,984,129)
Shares issued (in shares)								5,126,759
Shares repurchased (in shares)								(52,542,606)
Shares, end of period (in shares)	(1,135,399,976)					(1,135,399,976)		(1,135,399,976)
Total number of common shares repurchased (in shares)								52,542,606

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 08, 2022	Aug. 03, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	May 03, 2022
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount							$ 6,500
Remaining authorized repurchase amount							$ 1,500
Shares purchased (in shares)					52,542,606	13,000,000
Aggregate repurchases of common stock			$ 1,699	$ 230	$ 3,102	$ 592
Subsequent event
Equity, Class of Treasury Stock [Line Items]
Shares purchased (in shares)		11,000,000
Aggregate repurchases of common stock		$ 556
Dividends declared, common stock (in dollars per share)	$ 0.32
Dividends declared, preferred stock (in dollars per share)	$ 365.625

Equity - Rollforward of Accumul

Equity - Rollforward of Accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ 58,103	$ 63,560	$ 68,912	$ 67,199
Change in unrealized appreciation (depreciation) of investments	(17,904)	5,846	(38,071)	(5,803)
Change in deferred policy acquisition costs adjustment and other	2,521	(693)	5,336	698
Change in future policy benefits	942	(378)	2,125	767
Change in foreign currency translation adjustments	(204)	25	(205)	195
Change in net actuarial loss	5	12	16	11
Change in prior service cost	4	2	5	4
Change in deferred tax asset (liability)	1,873	(1,072)	4,383	826
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	(4)	0	(4)	(1)
Other comprehensive income (loss)	(12,767)	3,742	(26,415)	(3,303)
Balance, end of period	46,824	66,908	46,824	66,908
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(5,900)	6,466	6,687	13,511
Other comprehensive income (loss)	(11,756)	3,743	(24,343)	(3,302)
Balance, end of period	(17,656)	10,209	(17,656)	10,209
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Credit Losses Was Taken
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(97)	(62)	(57)	(95)
Balance, end of period	(61)	(58)	(61)	(58)
Unrealized Appreciation (Depreciation) of All Other Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(2,437)	9,894	10,094	17,093
Balance, end of period	(13,972)	13,605	(13,972)	13,605
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(2,478)	(2,142)	(2,453)	(2,267)
Balance, end of period	(2,747)	(2,128)	(2,747)	(2,128)
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(894)	(1,231)	(903)	(1,228)
Balance, end of period	(878)	(1,217)	(878)	(1,217)
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	6	7	6	8
Balance, end of period	2	7	2	7
Noncontrolling interests
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	(1,011)	(1)	(2,072)	(1)
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Credit Losses Was Taken
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	4	0	(1)	0
Unrealized Appreciation (Depreciation) of All Other Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	(1,003)	(1)	(2,079)	(1)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	(12)	0	8	0
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	0	0	0	0
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	0	0	0	0
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Credit Losses Was Taken
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in unrealized appreciation (depreciation) of investments	45	10	(12)	51
Change in deferred policy acquisition costs adjustment and other	4	(2)	4	(4)
Change in deferred tax asset (liability)	(9)	(4)	3	(10)
Other comprehensive income (loss)	40	4	(5)	37
Unrealized Appreciation (Depreciation) of All Other Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in unrealized appreciation (depreciation) of investments	(17,949)	5,836	(38,059)	(5,854)
Change in deferred policy acquisition costs adjustment and other	2,517	(691)	5,332	702
Change in future policy benefits	942	(378)	2,125	767
Change in deferred tax asset (liability)	1,952	(1,057)	4,457	896
Other comprehensive income (loss)	(12,538)	3,710	(26,145)	(3,489)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in foreign currency translation adjustments	(204)	25	(205)	195
Change in deferred tax asset (liability)	(77)	(11)	(81)	(56)
Other comprehensive income (loss)	(281)	14	(286)	139
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in net actuarial loss	5	12	16	11
Change in prior service cost	4	2	5	4
Change in deferred tax asset (liability)	7	0	4	(4)
Other comprehensive income (loss)	16	14	25	11
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in fair value of liabilities under fair value option attributable to changes in own credit risk	(4)	0	(4)	(1)
Other comprehensive income (loss)	$ (4)	$ 0	$ (4)	$ (1)

Equity - Other comprehensive in

Equity - Other comprehensive income reclassification adjustments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Comprehensive Income (Loss) Reclassification Adjustments
Other comprehensive income (loss)	$ (12,767)	$ 3,742	$ (26,415)	$ (3,303)
Noncontrolling interests
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(15,251)	4,938	(31,556)	(3,628)
Less: Reclassification adjustments included in net income	(611)	124	(758)	501
Total other comprehensive income (loss), before income tax expense (benefit)	(14,640)	4,814	(30,798)	(4,129)
Less: Income tax expense (benefit)	(1,873)	1,072	(4,383)	(826)
Unrealized Appreciation (Depreciation) of Fixed Maturity Securities on Which Allowance for Credit Losses Was Taken
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	41	4	(16)	41
Less: Reclassification adjustments included in net income	(8)	(4)	(8)	(6)
Total other comprehensive income (loss), before income tax expense (benefit)	49	8	(8)	47
Less: Income tax expense (benefit)	9	4	(3)	10
Other comprehensive income (loss)	40	4	(5)	37
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(15,086)	4,906	(31,337)	(3,855)
Less: Reclassification adjustments included in net income	(596)	139	(735)	530
Total other comprehensive income (loss), before income tax expense (benefit)	(14,490)	4,767	(30,602)	(4,385)
Less: Income tax expense (benefit)	(1,952)	1,057	(4,457)	(896)
Other comprehensive income (loss)	(12,538)	3,710	(26,145)	(3,489)
Foreign Currency Translation Adjustments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(204)	25	(205)	195
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	(204)	25	(205)	195
Less: Income tax expense (benefit)	77	11	81	56
Other comprehensive income (loss)	(281)	14	(286)	139
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	2	3	6	(8)
Less: Reclassification adjustments included in net income	(7)	(11)	(15)	(23)
Total other comprehensive income (loss), before income tax expense (benefit)	9	14	21	15
Less: Income tax expense (benefit)	(7)	0	(4)	4
Other comprehensive income (loss)	16	14	25	11
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Own Credit Risk
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(4)	0	(4)	(1)
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before income tax expense (benefit)	(4)	0	(4)	(1)
Less: Income tax expense (benefit)	0	0	0	0
Other comprehensive income (loss)	$ (4)	$ 0	$ (4)	$ (1)

Equity - Reclassification of si

Equity - Reclassification of significant items out of accumulated other comprehensive income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	$ 3,392	$ (1,926)	$ 7,811	$ 1,324
Net income attributable to AIG	3,036	99	7,296	3,975
Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Net income attributable to AIG	(611)	124	(758)	501
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken | Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	(8)	(4)	(8)	(6)
Unrealized appreciation (depreciation) of all other investments | Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	(596)	139	(735)	530
Change in retirement plan liabilities adjustment | Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	(7)	(11)	(15)	(23)
Prior-service credit | Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	0	(1)	(1)	(2)
Actuarial losses | Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	$ (7)	$ (10)	$ (14)	$ (21)

Earnings Per Common Share (EP_3

Earnings Per Common Share (EPS) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jan. 31, 2011
Numerator for EPS:
Income from continuing operations	$ 3,393,000,000	$ 150,000,000	$ 8,049,000,000	$ 4,080,000,000
Less: Net income from continuing operations attributable to noncontrolling interests	356,000,000	51,000,000	752,000,000	105,000,000
Less: Preferred stock dividends	8,000,000	8,000,000	15,000,000	15,000,000
Income attributable to AIG common shareholders from continuing operations	3,029,000,000	91,000,000	7,282,000,000	3,960,000,000
Loss from discontinued operations, net of income tax expense	(1,000,000)	0	(1,000,000)	0
Net income attributable to AIG common shareholders	$ 3,028,000,000	$ 91,000,000	$ 7,281,000,000	$ 3,960,000,000
Denominator for EPS:
Weighted average common shares outstanding - basic (in shares)	790,897,301	862,930,931	803,532,447	865,508,343
Dilutive common shares (in shares)	9,833,445	9,946,372	9,765,891	9,057,937
Weighted average common shares outstanding - diluted (in shares)	800,730,746	872,877,303	813,298,338	874,566,280
Basic:
Income from continuing operations (in dollars per share)	$ 3.83	$ 0.11	$ 9.06	$ 4.58
Income from discontinued operations (in dollars per share)	0	0	0	0
Net income attributable to AIG common shareholders (in dollars per share)	3.83	0.11	9.06	4.58
Diluted:
Income from continuing operations (in dollars per share)	3.78	0.11	8.95	4.53
Income from discontinued operations (in dollars per share)	0	0	0	0
Net income attributable to AIG common shareholders (in dollars per share)	$ 3.78	$ 0.11	$ 8.95	$ 4.53
Warrants outstanding, term (in years)					10 years
Number of shares excluded from diluted shares outstanding because the effect would have been anti-dilutive (in shares)	46,600,000	5,500,000	46,200,000	7,400,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Oct. 31, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rates on income from continuing operations (as a percent)			21.50%	(2.00%)	20.70%	16.30%
Valuation allowance related to certain tax attribute carryforward			$ 850		$ 850
Valuation Allowance [Line Items]
Deferred tax asset valuation allowance recognized					(23)
Additional tax payments	$ 10	$ 354
Unrecognized tax benefits, excluding interest and penalties			1,200		1,200		$ 1,200
Unrecognized tax benefits, if recognized would not affect the effective tax rate			2		2		22
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate			1,200		1,200		1,100
Unrecognized tax benefits, interest and penalties accrued			66		66		$ 69
Unrecognized tax benefits, interest net of the federal (benefit) expense and penalties					3	$ 203
Decrease in unrecognized tax benefits is reasonably possible in the next twelve months			11		11
U.S.. Life Insurance Companies
Valuation Allowance [Line Items]
Deferred tax asset valuation allowance recognized			735		1,500
Non U.S.. Life Insurance Companies
Valuation Allowance [Line Items]
Deferred tax asset valuation allowance recognized			$ 460		$ 630