American International (AIG) 10-Q 5 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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 Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		723,752,512
Document Fiscal Year Focus	2023
Entity Central Index Key	0000005272
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
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
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

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Fixed maturity securities:
Bonds available for sale, at fair value, net of allowance for credit losses of $136 in 2023 and $186 in 2022 (amortized cost: 2023 - $254,179; 2022 - $255,993)*	[1]	$ 229,397	$ 226,156
Other bond securities, at fair value (See Note 5)	[1]	4,762	4,485
Equity securities, at fair value (See Note 5)	[1]	591	575
Mortgage and other loans receivable, net of allowance for credit losses of $38,421 in 2023 and $38,351 in 2022*	[1]	50,830	49,605
Other invested assets (portion measured at fair value: 2023 - $12,163; 2022 - $12,042)*	[1]	16,104	15,953
Short-term investments, including restricted cash of $105 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $6,866; 2022 - $5,708)*	[1]	13,253	12,376
Total investments		314,937	309,150
Cash	[1]	1,923	2,043
Accrued investment income	[1]	2,451	2,376
Premiums and other receivables, net of allowance for credit losses and disputes of $175 in 2023 and $169 in 2022		15,523	13,243
Deferred income taxes		14,480	14,804
Deferred policy acquisition costs		13,304	12,857
Market risk benefit assets, at fair value		830	796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $30 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $726; 2022 - $621)*	[1]	12,967	12,384
Separate account assets, at fair value		87,357	84,853
Total assets		536,627	522,228
Liabilities:
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses of $14 in 2023 and $14 in 2022		75,793	75,167
Unearned premiums		20,817	18,338
Future policy benefits for life and accident and health insurance contracts		54,846	51,914
Policyholder contract deposits (portion measured at fair value: 2023 - $6,109; 2022 - $5,408)		157,896	155,984
Market risk benefit liabilities, at fair value		5,144	4,736
Other policyholder funds		3,461	3,463
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,863); 2022 - $(2,235))		30,368	30,383
Other liabilities (portion measured at fair value: 2023 - $367; 2022 - $343)*	[1]	28,595	26,757
Separate account liabilities		87,357	84,853
Total liabilities		490,321	478,774
Contingencies, commitments and guarantees (See Note 14)
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: 2023 - 20,000 and 2022 - 20,000; liquidation preference $500		485	485
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2023 - 1,906,671,492 and 2022 - 1,906,671,492		4,766	4,766
Treasury stock, at cost; 2023 - 1,179,092,272 shares; 2022 - 1,172,543,436 shares of common stock		(56,857)	(56,473)
Additional paid-in capital		79,562	79,915
Retained earnings		34,690	34,893
Accumulated other comprehensive loss		(19,329)	(22,616)
Total AIG shareholders’ equity		43,317	40,970
Non-redeemable noncontrolling interests		2,989	2,484
Total equity		46,306	43,454
Total liabilities and equity		536,627	522,228
Recurring Basis
Fixed maturity securities:
Other invested assets (portion measured at fair value: 2023 - $12,163; 2022 - $12,042)*		12,163	12,042
Short-term investments, including restricted cash of $105 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $6,866; 2022 - $5,708)*		6,866	5,708
Market risk benefit assets, at fair value		830	796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $30 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $726; 2022 - $621)*		726	621
Liabilities:
Policyholder contract deposits (portion measured at fair value: 2023 - $6,109; 2022 - $5,408)		6,109	5,408
Market risk benefit liabilities, at fair value		5,144	4,736
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,863); 2022 - $(2,235))		1,863	2,235
Consolidated Entities, Excluding Consolidated Investments
Liabilities:
Short-term and long-term debt		22,100	21,299
Consolidated Investments, Including Variable Interest Entities, Primarily Beneficiary
Liabilities:
Short-term and long-term debt	[1]	3,944	5,880
Fortitude RE
Fixed maturity securities:
Reinsurance assets, net of allowance for credit losses and disputes		31,149	30,751
Excluding Fortitude
Fixed maturity securities:
Reinsurance assets, net of allowance for credit losses and disputes		$ 41,706	$ 38,971
[1]See Note 9 for details of balances associated with variable interest entities.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Assets:
Bonds available for sale, allowance for credit losses		$ 136	$ 186
Bonds available for sale, amortized cost		254,179	255,993
Mortgage and other loans receivable, allowance for credit losses		38,421	38,351
Other invested assets	[1]	16,104	15,953
Short-term investments	[1]	13,253	12,376
Premiums and other receivables, allowance for credit losses and disputes		175	169
Other assets, allowance for credit losses		49	49
Other assets	[1]	12,967	12,384
Liabilities:
Liability for unpaid losses and loss adjustment expenses, allowance for credit losses		14	14
Policyholder contract deposits		157,896	155,984
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,863); 2022 - $(2,235))		(30,368)	(30,383)
Short term debt		$ 1,500	$ 1,500
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)		1,179,092,272	1,172,543,436
Fortitude RE
Assets:
Reinsurance asset, allowance for credit loss		$ 0	$ 0
Excluding Fortitude
Assets:
Reinsurance asset, allowance for credit loss		278	295
Short-term investments, at cost (approximates fair value)
Assets:
Restricted cash		105	140
Other assets
Assets:
Restricted cash		30	33
Recurring Basis
Assets:
Other invested assets		12,163	12,042
Short-term investments		6,866	5,708
Other assets		726	621
Liabilities:
Policyholder contract deposits		6,109	5,408
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,863); 2022 - $(2,235))		(1,863)	(2,235)
Other liabilities		367	343
Long-term debt, portion measured at fair value		$ 72	$ 56
[1]See Note 9 for details of balances associated with variable interest entities.

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Premiums	$ 8,481	$ 7,120
Policy fees	698	730
Total net investment income	3,533	3,237
Total net realized gains (losses)	(1,909)	3,579
Other income	181	278
Total revenues	10,984	14,944
Benefits, losses and expenses:
Policyholder benefits and losses incurred (including remeasurement (gains) losses of $64 and $146 for the three months ended March 31, 2023 and 2022, respectively)	6,397	5,060
Change in the fair value of market risk benefits, net	(196)	233
Interest credited to policyholder account balances	1,040	879
Amortization of deferred policy acquisition costs	1,293	1,137
General operating and other expenses	1,980	2,164
Interest expense	307	263
Net (gain) loss on divestitures and other	2	(40)
Total benefits, losses and expenses	11,215	9,230
Income (loss) from continuing operations before income tax expense (benefit)	(231)	5,714
Income tax expense (benefit)	(144)	1,154
Income (loss) from continuing operations	(87)	4,560
Income from discontinued operations, net of income tax expense	0	0
Net income (loss)	(87)	4,560
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	(117)	387
Net income (loss) attributable to AIG	30	4,173
Less: Dividends on preferred stock	7	7
Net income (loss) attributable to AIG common shareholders	$ 23	$ 4,166
Basic:
Income (loss) from continuing operations (in dollars per share)	$ 0.03	$ 5.10
Income from discontinued operations (in dollars per share)	0	0
Net income (loss) attributable to AIG common shareholders (in dollars per share)	0.03	5.10
Diluted:
Income (loss) from continuing operations (in dollars per share)	0.03	5.04
Income from discontinued operations (in dollars per share)	0	0
Net income attributable to AIG common shareholders (in dollars per share)	$ 0.03	$ 5.04
Weighted average shares outstanding:
Basic (in shares)	738,661,428	816,314,273
Diluted (in shares)	744,099,186	826,012,610
Excluding Fortitude Re Funds Withheld Assets
Revenues:
Total net investment income	$ 3,087	$ 2,946
Total net realized gains (losses)	(713)	401
Fortitude Re funds withheld assets
Revenues:
Total net investment income	446	291
Total net realized gains (losses)	(31)	(140)
Fortitude Re funds withheld embedded derivative
Revenues:
Total net realized gains (losses)	$ (1,165)	$ 3,318

Consolidated Statements of In_2

Consolidated Statements of Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Remeasurement gain (loss) on policyholder contract deposits	$ 64	$ 146

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (87)	$ 4,560
Other comprehensive income (loss), net of tax
Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken	6	(45)
Change in unrealized appreciation (depreciation) of all other investments	4,252	(16,141)
Change in fair value of market risk benefits related to our own credit risk	75	782
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts	(420)	2,290
Change in foreign currency translation adjustments	(28)	(6)
Change in retirement plan liabilities adjustment	28	9
Other comprehensive income (loss)	3,913	(13,111)
Comprehensive income (loss)	3,826	(8,551)
Comprehensive income (loss) attributable to noncontrolling interests	509	(625)
Comprehensive income (loss) attributable to AIG	$ 3,317	$ (7,926)

Consolidated Statements of Equi

Consolidated Statements of Equity - 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, 2021	$ 69,034	$ 66,068	$ 485	$ 4,766	$ (51,618)	$ 81,669	$ 25,695	$ 5,071	$ 2,966
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans	(90)	(90)			230	(320)
Purchase of common stock	(1,403)	(1,403)			(1,403)
Net income (loss) attributable to AIG or noncontrolling interests	4,560	4,173					4,173		387
Dividends on preferred stock	(7)	(7)					(7)
Dividends on common stock	(258)	(258)					(258)
Other comprehensive income (loss)	(13,111)	(12,099)						(12,099)	(1,012)
Distributions to noncontrolling interests	(132)								(132)
Other	73	73			0	89	(16)		0
Balance, end of period at Mar. 31, 2022	58,666	56,457	485	4,766	(52,791)	81,438	29,587	(7,028)	2,209
Balance, beginning of period at Dec. 31, 2022	43,454	40,970	485	4,766	(56,473)	79,915	34,893	(22,616)	2,484
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans	(147)	(147)			219	(366)
Purchase of common stock	(603)	(603)			(603)
Net income (loss) attributable to AIG or noncontrolling interests	(87)	30					30		(117)
Dividends on preferred stock	(7)	(7)					(7)
Dividends on common stock	(234)	(234)					(234)
Other comprehensive income (loss)	3,913	3,287						3,287	626
Contributions from noncontrolling interests	16								16
Distributions to noncontrolling interests	(58)								(58)
Other	59	21			0	13	8		38
Balance, end of period at Mar. 31, 2023	$ 46,306	$ 43,317	$ 485	$ 4,766	$ (56,857)	$ 79,562	$ 34,690	$ (19,329)	$ 2,989

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared, preferred stock (in dollars per share)	$ 365.625	$ 365.625
Dividend paid (in dollars per share)	$ 0.32	$ 0.32

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023		Mar. 31, 2022
Cash flows from operating activities:
Net income (loss)		$ (87)		$ 4,560
Income from discontinued operations, net of income taxes		0		0
Noncash revenues, expenses, gains and losses included in income (loss):
Net losses on sales of securities available for sale and other assets		450		165
Net (gain) loss on divestitures and other		2		(40)
Unrealized gains in earnings - net		(112)		(873)
Change in the fair value of market risk benefits in earnings, net		316		(496)
Equity in income from equity method investments, net of dividends or distributions		(12)		(91)
Depreciation and other amortization		1,186		1,134
Impairments of assets		11		0
Changes in operating assets and liabilities:
Insurance reserves		3,015		1,256
Premiums and other receivables and payables - net		641		(4,166)
Reinsurance assets, net		(2,561)		(807)
Capitalization of deferred policy acquisition costs		(1,689)		(1,402)
Current and deferred income taxes - net		(200)		1,098
Other, net		(463)		(299)
Total adjustments		584		(4,521)
Net cash provided by operating activities		497		39
Sales or distributions of:
Available for sale securities		10,676		6,097
Other securities		313		411
Other invested assets		413		795
Divestitures, net		32
Maturities of fixed maturity securities available for sale		4,130		5,674
Principal payments received on and sales of mortgage and other loans receivable		957		1,921
Purchases of:
Available for sale securities		(13,607)		(12,263)
Other securities		(481)		(1,061)
Other invested assets		(443)		(674)
Mortgage and other loans receivable		(2,009)		(3,515)
Net change in short-term investments		(1,152)		3,645
Other, net		(303)		(177)
Net cash provided by (used in) investing activities		(1,474)		853
Proceeds from (payments for)
Policyholder contract deposits		8,226		6,410
Policyholder contract withdrawals		(6,468)		(4,802)
Issuance of debt		743		11
Repayments of debt		(1)		(7)
Purchase of common stock		(577)		(1,394)
Dividends paid on preferred stock		(7)		(7)
Dividends paid on common stock		(234)		(258)
Other, net		(774)		(490)
Net cash provided by (used in) financing activities		817		(577)
Effect of exchange rate changes on cash and restricted cash		2		(13)
Net increase (decrease) in cash and restricted cash		(158)		302
Cash and restricted cash at beginning of year		2,216		2,427
Cash and restricted cash at end of period		2,058		2,729
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		1,923	[1]	2,537
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows		2,058		2,729
Cash paid during the period for:
Interest		165		243
Taxes		56		56
Non-cash investing activities:
Fixed maturity securities available for sale received in connection with pension risk transfer transactions		1,424		0
Fixed maturity securities received in connection with reinsurance transactions		0		2
Fixed maturity securities transferred in connection with reinsurance transactions		(680)		(204)
Non-cash financing activities:
Interest credited to policyholder contract deposits included in financing activities		1,107		854
Fee income debited to policyholder contract deposits included in financing activities		(524)		(420)
Consolidated VIE
Proceeds from (payments for)
Issuance of debt		36		697
Repayments of debt		(127)		(737)
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		96
Short-term investments
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[2]	105		152
Other assets
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[2]	$ 30		$ 40
[1]See Note 9 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	3 Months Ended
	Mar. 31, 2023
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 Life and Retirement 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, 2022 (the 2022 Annual Report). The condensed consolidated financial information as of December 31, 2022 included herein has been derived from the audited Consolidated Financial Statements in the 2022 Annual Report. Prior to the fourth quarter ending December 31, 2022, certain of our foreign subsidiaries included in the Condensed Consolidated Financial Statements report on the basis of a fiscal year ending November 30. For these periods, 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. Effective with the fourth quarter of the year ended December 31, 2022, these foreign subsidiaries now report on the basis of a calendar year ending December 31, and corresponding calendar quarters. For additional information on the change in fiscal year of these foreign subsidiaries, see Note 1 in our 2022 Annual Report. 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 three months ended March 31, 2023, are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. We evaluated the need to recognize or disclose events that occurred subsequent to March 31, 2023 and prior to the issuance of these Condensed Consolidated Financial Statements. We adopted targeted improvements to the accounting for long-duration contracts (the standard or LDTI) on January 1, 2023 with a transition date of January 1, 2021. In accordance with the transition guidance in the standard, we updated our prior period Condensed Consolidated Financial Statements presented herein to reflect LDTI. For additional detail, see Note 2. SALES/DISPOSALS OF ASSETS AND BUSINESSES Separation of Life and Retirement Business and Relationship with Blackstone Inc. On September 19, 2022, AIG closed on the initial public offering (IPO) of 80 million shares of Corebridge Financial, Inc. (Corebridge) common stock at a public offering price of $21.00 per share, representing 12.4 percent of Corebridge's common stock. Corebridge is the holding company for AIG’s Life and Retirement business. The aggregate gross proceeds of the offering to AIG, before deducting underwriting discounts and commissions and other expenses payable by AIG, were approximately $1.7 billion. After consideration of underwriting discounts, commissions and other related expenses payable by AIG, AIG recorded $497 million as an increase in AIG’s shareholder’s equity, recalculated on an LDTI basis. Blackstone Inc. (Blackstone) completed the acquisition of a 9.9 percent equity stake in Corebridge in November 2021. Blackstone is 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 percent, 67 percent and 75 percent of its shares after the first, second and third anniversaries, respectively, of Corebridge IPO (which will be September 19, 2023, 2024 and 2025, respectively), with the transfer restrictions terminating in full on the fifth anniversary of the IPO (September 19, 2027). Following the IPO, AIG owned 77.7 percent of the outstanding common stock of Corebridge. At March 31, 2023 AIG owns 77.3 percent of the outstanding common stock of Corebridge due to the settlement of Corebridge's vested employee stock compensation awards. AIG continues to consolidate the assets, liabilities, and results of operations of Corebridge in AIG’s Condensed Consolidated Financial Statements. The portion of equity interest of Corebridge that AIG does not own is reflected as noncontrolling interest in AIG’s Condensed Consolidated Financial Statements. Other Events On December 14, 2022, AIG announced that its wholly-owned subsidiary, AIG Financial Products Corp. (AIGFP), filed a voluntary petition to reorganize under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware and filed a proposed plan of reorganization. The reorganization will not have a material impact on the consolidated balance sheets of AIG or our respective businesses. AIGFP has no material operations or businesses and no employees. In conjunction with the bankruptcy filing, AIGFP and its consolidated subsidiaries were deconsolidated from the results of AIG, resulting in a pre-tax loss of $114 million for the twelve months ended December 31, 2022, reported in Net gain (loss) on divestitures and other. In addition, AIGFP and its subsidiaries were determined to be an unconsolidated variable interest entity. 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; • valuation of future policy benefit liabilities and recognition of measurement gains and losses; • valuation of market risk benefits (MRBs) related to guaranteed benefit features of variable annuity, fixed annuity and fixed index annuity products; • valuation of embedded derivative liabilities for fixed index annuity and index universal life 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; • 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	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies There were no material changes to our significant accounting policies with the exception of the policies listed below which were impacted by the adoption of LDTI. For additional information on our significant accounting policies not impacted by the adoption LDTI, see Note 2 to the Consolidated Financial Statements in the 2022 Annual Report. The following list identifies our significant accounting policies presented in other Notes to these Condensed Consolidated Financial Statements, with a reference to the Note where a detailed description can be found: Note 5. Investments • Net realized gains (losses) Note 6. Lending Activities Note 7. Reinsurance • Reinsurance assets – net of allowance Note 8. Deferred Policy Acquisition Costs • Deferred policy acquisition costs • Deferred sales inducements • Amortization of deferred policy acquisition costs Note 11. Insurance Liabilities • Future policy benefits • Policyholder contract deposits • Other policyholder funds Note 12. Market Risk Benefits Note 13. Separate Account Assets and Liabilities OTHER SIGNIFICANT ACCOUNTING POLICIES Insurance revenues include premiums and policy fees. All premiums and policy fees are presented net of reinsurance, as applicable. Premiums from long-duration life products, other than universal and variable life contracts, are recognized as revenues when due. Premiums from individual and group annuity contracts that are life contingent are recognized as revenues when due. For limited payment contracts, premiums are due over a significantly shorter period than the period over which benefits are provided. Prior to the adoption of LDTI on January 1, 2021, the difference between the gross premium received and the net premium was deferred and recognized in premiums in a constant relationship to insurance in-force, or for annuities, the amount of expected future policy benefits. This Deferred Profit Liability (DPL) was recorded in the Condensed Consolidated Balance Sheets in Other policyholder funds. After January 1, 2021, the difference between the gross premium received and recorded as revenue and the net premium is deferred and recognized in Policyholder benefits in a constant relationship to insurance in-force, or for annuities, the amount of expected future policy benefits. This DPL is recorded in the Condensed Consolidated Balance Sheets in Future policy benefits for life and accident and health insurance contracts. Prior to the adoption of LDTI on January 1, 2021, reinsurance premiums ceded under yearly renewable term (YRT) reinsurance agreements were recognized as a reduction in revenues over the period the reinsurance coverage was utilized in proportion to the risks to which the premiums relate, while premiums ceded under modified coinsurance (modco) treaties were recognized when due. After January 1, 2021 all reinsurance premiums ceded are recognized when due, following a ceded net premium ratio methodology that also accrues a proportionate amount of estimated benefits. Reinsurance premiums for assumed business are estimated based on information received from ceding companies and reinsurers. Any subsequent differences that arise regarding such estimates are recorded in the periods in which they are determined. Amounts received as payment for investment-oriented contracts such as universal life, variable annuities, fixed annuities, and fixed index annuities, are reported as deposits to Policyholder contract deposits or Separate account liabilities, as applicable. Revenues from these contracts are recorded in policy fees and consist of policy charges for the cost of insurance, policy administration charges, surrender charges and amortization of unearned revenue reserves. Policy fees are recognized as revenues in the period in which they are assessed against policyholders, unless the fees are designed to compensate AIG for services to be provided in the future. Prior to the adoption of LDTI on January 1, 2021, fees deferred as unearned revenue were amortized in relation to the incidence of estimated gross profits (EGPs) to be realized over the estimated lives of the contracts. After January 1, 2021 fees deferred as unearned revenue ACCOUNTING STANDARDS ADOPTED DURING 2023 Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the Financial Accounting Standards Board (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 adopted the standard on January 1, 2023 using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs. The Company also adopted the standard in relation to MRBs on a full retrospective basis. As of the January 1, 2021 transition date (Transition Date), the impact of the adoption of the standard was a net decrease to beginning Accumulated other comprehensive income (loss) (AOCI) of $2.2 billion and a net increase to beginning Retained earnings of $933 million primarily driven by (1) changes related to MRBs in our Individual Retirement and Group Retirement operating segments, including the impact of non-performance risk adjustments which reclassified the portion of the changes in fair value attributable to non-performance risk from Retained earnings to AOCI, (2) changes to the discount rate which most significantly impacted our Life Insurance and Institutional Markets operating segments, and (3) the removal of balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments. The accounting for the Fortitude Reinsurance Company Ltd. (Fortitude Re) reinsurance contracts, including the discount rates, continued to be calculated using the same methodology and assumptions as the direct policies, and therefore have been recalculated on an LDTI basis. The accounting for reinsurance transactions between AIG and Fortitude Re structured as modified coinsurance (modco) remained unchanged. Market risk benefits: The standard requires the measurement of all MRBs (e.g., living benefit and death benefit guarantees associated with variable annuities) associated with deposit (or account balance) contracts at fair value at each reporting period. Changes in fair value compared to prior periods are recorded and presented separately within the income statement, with the exception of our own credit risk, which are recognized in Other comprehensive income. MRBs impacted both Retained earnings and AOCI upon transition. The accounting for MRBs primarily impacted our Individual Retirement and Group Retirement operating segments. For additional disclosures about MRBs, see Note 12. 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 had an adjustment to AOCI due to the fact that the market upper-medium grade (low credit risk) interest rates as of the Transition Date differed from reserve interest accretion rates. Following adoption, the impact of changes to discount rates are recognized through Other comprehensive income. Changes resulting from updating the discount rate each reporting period primarily impact term life insurance and other traditional life insurance products, as well as pension risk transfer (PRT) and structured settlement products. For additional information on the discount rate assumption under accounting for Long-Duration Contracts Standard, see Note 11. 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 were 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 Condensed Consolidated Statements of Income (Loss). For additional information, see Note 11. • Simplifies the amortization of DAC to a constant level basis over the expected term of the related contracts with adjustments for unexpected terminations, and no longer requires an impairment test. For additional information, see Note 8. • Increases disclosures of disaggregated rollforwards of several balances, including but not limited to liabilities for future policy benefits, deferred acquisition costs, account balances, MRBs, separate account liabilities and information about significant inputs, judgments and methods used in measurement and changes thereto and impact of those changes. The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 as well as cross references to the applicable notes herein for additional information: Pre-Adoption, Cumulative Effect Updated Balances (in millions) Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes (a) 34,578 7,666 42,244 Reinsurance assets - other, net of allowance for credit losses and disputes (a) 38,963 469 39,432 Deferred income taxes 12,624 339 12,963 Deferred policy acquisition costs (b) 9,805 3,150 12,955 Market risk benefit assets (c) — 338 338 Other assets, net of allowance for credit losses (d) 13,122 398 13,520 Total assets 586,481 12,360 598,841 Future policy benefits for life and accident and health insurance contracts (e) 56,878 10,486 67,364 Policyholder contract deposits (e) 154,470 (6,247) 148,223 Market risk benefit liabilities (c) — 8,739 8,739 Other policyholder funds (f) 3,548 248 3,796 Other liabilities (g) 27,122 398 27,520 Total liabilities 519,282 13,624 532,906 Retained earnings 15,504 933 16,437 Accumulated other comprehensive income (loss) 13,511 (2,197) 11,314 Total AIG Shareholders' equity 66,362 (1,264) 65,098 Total equity 67,199 (1,264) 65,935 Total liabilities and equity 586,481 12,360 598,841 (a) For additional information on the transition impacts associated with LDTI, see Note 7. (b) For additional information on the transition impacts associated with LDTI, see Note 8. (c) For additional information on the transition impacts associated with LDTI, see Note 12. (d) Other assets include deferred sales inducement assets. For additional information on the transition impacts associated with LDTI, see Note 8. (e) For additional information on the transition impacts associated with LDTI, see Note 11. (f) Other policyholder funds include Unearned Revenue Reserve (URR). For additional information on the transition impacts associated with LDTI, see Note 11. (g) Other liabilities include deferred cost of reinsurance liabilities. For additional information on the transition impacts associated with LDTI, see Note 7. The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Balance Sheets as of December 31, 2022: As Previously Effect of Updated Balances (in millions) Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes 32,159 (1,408) 30,751 Reinsurance assets - other, net of allowance for credit losses and disputes 39,434 (463) 38,971 Deferred income taxes 15,144 (340) 14,804 Deferred policy acquisition costs 15,518 (2,661) 12,857 Market risk benefit assets — 796 796 Other assets, net of allowance for credit losses 12,714 (330) 12,384 Total assets 526,634 (4,406) 522,228 Future policy benefits for life and accident and health insurance contracts 59,223 (7,309) 51,914 Policyholder contract deposits 158,891 (2,907) 155,984 Market risk benefit liabilities — 4,736 4,736 Other policyholder funds 3,909 (446) 3,463 Other liabilities 26,456 301 26,757 Total liabilities 484,399 (5,625) 478,774 Additional paid-in capital 80,284 (369) 79,915 Retained earnings 33,032 1,861 34,893 Accumulated other comprehensive income (loss) (22,092) (524) (22,616) Total AIG Shareholders' equity 40,002 968 40,970 Non-redeemable noncontrolling interests 2,233 251 2,484 Total equity 42,235 1,219 43,454 Total liabilities and equity 526,634 (4,406) 522,228 The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Income (Loss): Three Months Ended March 31, 2022 As Previously Effect of Updated Balances (in millions, except per common share data) Revenues: Premiums $ 7,110 $ 10 $ 7,120 Policy fees 764 (34) 730 Total net realized gains (losses) 4,419 (840) 3,579 Total revenues 15,808 (864) 14,944 Benefits, losses and expenses: Policyholder benefits and losses incurred 5,255 (195) 5,060 Change in the fair value of market risk benefits, net — (233) (233) Interest credited to policyholder account balances 877 2 879 Amortization of deferred acquisition costs 1,437 (300) 1,137 General operating and other expenses 2,181 (17) 2,164 Total benefits, losses and expenses 9,973 (743) 9,230 Income (loss) from continuing operations before income tax expense (benefit) 5,835 (121) 5,714 Income tax expense (benefit) 1,179 (25) 1,154 Income (loss) from continuing operations 4,656 (96) 4,560 Net income (loss) 4,656 (96) 4,560 Net income (loss) from continuing operations attributable to noncontrolling interests 396 (9) 387 Net income (loss) attributable to AIG 4,260 (87) 4,173 Net income (loss) attributable to AIG common shareholders 4,253 (87) 4,166 Income (loss) per common share attributable to AIG common shareholders: Common stock - Basic 5.21 (0.11) 5.10 Common stock - Diluted 5.15 (0.11) 5.04 The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Comprehensive Income (Loss): Three Months Ended March 31, 2022 As Previously Effect of Updated Balances (in millions) Net income $ 4,656 $ (96) $ 4,560 Other comprehensive income (loss), net of tax Change in unrealized appreciation (depreciation) of all other investments (13,607) (2,534) (16,141) Change in fair value of market risk benefits related to our own credit risk — 782 782 Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts — 2,290 2,290 Other comprehensive income (loss) (13,648) 537 (13,111) Comprehensive income (loss) (8,992) 441 (8,551) Comprehensive income (loss) attributable to noncontrolling interests (665) 40 (625) Comprehensive income (loss) attributable to AIG (8,327) 401 (7,926) The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Cash Flows: Three Months Ended March 31, 2022 As Effect Updated Balances (in millions) Cash flows from operating activities: Net income $ 4,656 $ (96) $ 4,560 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Noncash revenues, expenses, gains and losses included in income (loss): Unrealized gains in earnings - net (2,006) 1,133 (873) Change in the fair value of market risk benefits in earnings, net — (496) (496) Depreciation and other amortization 1,447 (313) 1,134 Changes in operating assets and liabilities: Insurance reserves 1,734 (478) 1,256 Premiums and other receivables and payables - net (4,164) (2) (4,166) Reinsurance assets, net (1,223) 416 (807) Capitalization of deferred policy acquisition costs (1,386) (16) (1,402) Current and deferred income taxes - net 1,123 (25) 1,098 Other, net (158) (141) (299) Total adjustments (4,599) 78 (4,521) Net cash provided by operating activities 57 (18) 39 Cash flows from financing activities: Policyholder contract deposits 6,392 18 6,410 Net cash used in financing activities (595) 18 (577) 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. The Company adopted the standard prospectively as of January 1, 2023 and the standard did not have a material impact on our reported consolidated financial condition, results of operations, or cash flows. For the updated required disclosures, see Note 6. FUTURE APPLICATION OF ACCOUNTING STANDARDS 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	3 Months Ended
	Mar. 31, 2023
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 and variable annuities. • 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. SEGMENT RESULTS We evaluate segment performance based on adjusted revenues and adjusted pre-tax income (loss). Adjusted revenues and adjusted pre-tax income (loss) are derived by excluding certain items from total revenues and pre-tax income (loss), respectively. These items generally fall into one or more of the following broad categories: legacy matters having no relevance to our current businesses or operating performance; adjustments to enhance transparency to the underlying economics of transactions; and measures that we believe to be common to the industry. Legal entities are attributed to each segment based upon the predominance of activity in that legal entity. For the items excluded from adjusted revenues and adjusted pre-tax income (loss), see the table below. The following table presents AIG’s continuing operations by operating segment: Three Months Ended March 31, 2023 2022 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 2,980 $ 299 (a) $ 2,789 $ 256 (a) International 3,279 203 (a) 3,467 190 (a) Net investment income 746 746 765 765 Total General Insurance 7,005 1,248 7,021 1,211 Life and Retirement Individual Retirement 1,484 533 1,347 466 Group Retirement 683 187 734 241 Life Insurance 1,249 82 1,311 113 Institutional Markets 1,955 84 549 114 Total Life and Retirement 5,371 886 3,941 934 Other Operations Other Operations before consolidation and eliminations 132 (434) 294 (288) AIG consolidation and eliminations (64) (57) (136) (133) Total Other Operations 68 (491) 158 (421) Total 12,444 1,643 11,120 1,724 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 13 (3) 14 13 Change in the fair value of market risk benefits, net (b) — (196) — 233 Changes in benefit reserves related to net realized gains (losses) — 6 — 2 Changes in the fair value of equity securities 51 51 (27) (27) Other income (expense) - net (7) — (7) — Net investment income on Fortitude Re funds withheld assets 446 446 291 291 Net realized gains (losses) on Fortitude Re funds withheld assets (31) (31) (140) (140) Net realized gains (losses) on Fortitude Re funds withheld embedded derivative (1,165) (1,165) 3,318 3,318 Net realized gains (losses) (c) (772) (766) 341 349 Net gain (loss) on divestitures and other — (2) — 40 Non-operating litigation reserves and settlements 1 1 34 34 (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 19 — — Net loss reserve discount benefit (charge) — (64) — 20 Integration and transaction costs associated with acquiring or divesting businesses — (52) — (46) Restructuring and other costs — (117) — (93) Non-recurring costs related to regulatory or accounting changes — (13) — (4) Net impact from elimination of international reporting lag (d) 4 12 — — Revenues and pre-tax income (loss) $ 10,984 $ (231) $ 14,944 $ 5,714 (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 realized gains and losses on certain derivative instruments used for non-qualifying (economic) hedging. (c) 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). (d) See Note 1.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
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. The following is a description of the valuation methodologies used for instruments carried at fair value. These methodologies are applied to assets and liabilities across the levels discussed above, and the observability of the inputs used determines the appropriate level in the fair value hierarchy for the respective asset or liability. VALUATION METHODOLOGIES OF FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE There were no material changes to valuation methodologies of financial instruments measured at fair value with the exception of the valuation methodologies listed below which were impacted by the adoption of LDTI. For additional information on valuation methodologies not impacted by the adoption LDTI, see Note 4 to the Consolidated Financial Statements in the 2022 Annual Report. Market Risk Benefits and Embedded Derivatives within Policyholder Contract Deposits Certain variable annuity, fixed annuity and fixed index annuity contracts contain MRBs related to guaranteed benefit features that we separate from the host contracts and account for at fair value, with certain changes recognized in earnings. MRBs are contracts or contract features that provide protection to policyholders from other-than-nominal capital market risks and therefore expose the insurance entity to other-than-nominal capital market risks. The fair value of MRBs contained in certain variable annuity, fixed annuity and fixed index annuity contracts is measured based on policyholder behavior and capital market assumptions related to projected cash flows over the expected lives of the contracts. These discounted cash flow projections primarily include benefits and related fees assessed, when applicable. In some instances, the projected cash flows from fees may exceed projected cash flows related to benefit payments and therefore, at a point in time, the carrying value of the MRBs may be in a net asset position. The projected cash flows incorporate best estimate assumptions for policyholder behavior (including mortality, lapses, withdrawals and benefit utilization), along with an explicit risk margin to reflect a market participant’s estimates of projected cash flows and policyholder behavior. Estimates of future policyholder behavior assumptions are subjective and are based primarily on our historical experience. Because of the dynamic and complex nature of the projected cash flows with respect to MRBs in our variable annuity, fixed annuity, and fixed index annuity contracts, risk neutral valuations are used, which are calibrated to observable interest rate and equity option prices. Estimating the underlying cash flows for these products involves judgments regarding the capital market assumptions related to expected market rates of return, market volatility, credit spreads, correlations of certain market variables, fund performance and discount rates. Additionally, estimating the underlying cash flows for these products also involves judgments regarding policyholder behavior. The portion of fees attributable to the fair value of expected benefit payments is included within the fair value measurement of these MRBs, and related fees are classified in change in the fair value of MRBs, net, as earned, consistent with other changes in the fair value of these MRBs. Any portion of the fees not attributed to the MRBs is excluded from the fair value measurement and classified in policy fees as earned. Option pricing models are used to estimate the fair value of embedded derivatives in our fixed index annuity and life contracts, taking into account the capital market assumptions for future index growth rates, volatility of the equity indices, future interest rates, and our ability to adjust the participation rate and the cap on fixed index credited rates in light of market conditions and policyholder behavior assumptions. Projected cash flows are discounted using the interest rate swap curve (swap curve), which is viewed as being consistent with the credit spreads for highly-rated financial institutions (S&P AA-rated or above). A swap curve shows the fixed-rate leg of a non-complex swap against the floating rate (for example, Secured Overnight Financing Rate or London Inter-Bank Offered Rate) leg of a related tenor. We also incorporate our own risk of non-performance in the valuation of MRBs and embedded derivatives associated with variable annuity, fixed annuity, fixed index annuity and life contracts. The non-performance risk adjustment (NPA) reflects a market participant’s view of our claims-paying ability by incorporating an additional spread to the swap curve used to discount projected benefit cash flows. The non-performance risk adjustment is calculated by constructing forward rates based on a weighted average of observable corporate credit indices to approximate the claims-paying ability rating of our insurance companies. MRBs are measured using a non-performance risk adjustment that is a locked-in approximation of our claims-paying ability at policy issue (locked-in NPA) as well as a non-performance risk adjustment that reflects an approximation of our current claims-paying ability (current NPA). 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: March 31, 2023 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 $ 219 $ 5,536 $ — $ — $ — $ 5,755 Obligations of states, municipalities and political subdivisions — 10,775 873 — — 11,648 Non-U.S. governments 194 13,229 9 — — 13,432 Corporate debt — 136,139 2,432 — — 138,571 RMBS — 12,022 7,581 — — 19,603 CMBS — 13,936 938 — — 14,874 CLO/ABS — 11,625 13,889 — — 25,514 Total bonds available for sale 413 203,262 25,722 — — 229,397 Other bond securities: U.S. government and government sponsored entities — 1 — — — 1 Obligations of states, municipalities and political subdivisions — 139 1 — — 140 Non-U.S. governments — 60 — — — 60 Corporate debt — 2,416 130 — — 2,546 RMBS — 107 166 — — 273 CMBS — 290 27 — — 317 CLO/ABS — 415 1,010 — — 1,425 Total other bond securities — 3,428 1,334 — — 4,762 Equity securities 501 16 74 — — 591 Other invested assets (b) — 169 2,086 — — 2,255 Derivative assets (c) : Interest rate contracts — 2,046 356 — — 2,402 Foreign exchange contracts — 1,651 1 — — 1,652 Equity contracts 26 141 516 — — 683 Commodity contracts — 7 — — — 7 Credit contracts — — 33 — — 33 Other contracts — — 14 — — 14 Counterparty netting and cash collateral — — — (2,382) (1,793) (4,175) Total derivative assets 26 3,845 920 (2,382) (1,793) 616 Short-term investments 2,484 4,382 — — — 6,866 Market risk benefit assets — — 830 — — 830 Other assets (c) — — 110 — — 110 Separate account assets 84,202 3,155 — — — 87,357 Total $ 87,626 $ 218,257 $ 30,246 $ (2,382) $ (1,793) $ 331,954 Liabilities: Policyholder contract deposits $ — $ 45 $ 6,064 $ — $ — $ 6,109 Market risk benefit liabilities — — 5,144 — — 5,144 Derivative liabilities (c) : Interest rate contracts — 3,045 — — — 3,045 Foreign exchange contracts — 802 1 — — 803 Equity contracts 36 10 14 — — 60 Credit contracts — 7 33 — — 40 Counterparty netting and cash collateral — — — (2,382) (1,311) (3,693) Total derivative liabilities 36 3,864 48 (2,382) (1,311) 255 Fortitude Re funds withheld payable — — (1,863) — — (1,863) Other liabilities — — 112 — — 112 Long-term debt — 72 — — — 72 Total $ 36 $ 3,981 $ 9,505 $ (2,382) $ (1,311) $ 9,829 December 31, 2022 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 $ 25 $ 6,594 $ — $ — $ — $ 6,619 Obligations of states, municipalities and political subdivisions — 11,275 824 — — 12,099 Non-U.S. governments 158 13,326 1 — — 13,485 Corporate debt — 134,992 2,847 — — 137,839 RMBS — 11,264 7,553 — — 18,817 CMBS — 13,267 926 — — 14,193 CLO/ABS — 10,356 12,748 — — 23,104 Total bonds available for sale 183 201,074 24,899 — — 226,156 Other bond securities: Obligations of states, municipalities and political subdivisions — 111 — — — 111 Non-U.S. governments — 66 — — — 66 Corporate debt — 1,976 416 — — 2,392 RMBS — 113 173 — — 286 CMBS — 303 28 — — 331 CLO/ABS — 389 910 — — 1,299 Total other bond securities — 2,958 1,527 — — 4,485 Equity securities 518 18 39 — — 575 Other invested assets (b) — 145 2,075 — — 2,220 Derivative assets (c) : Interest rate contracts 1 3,410 311 — — 3,722 Foreign exchange contracts — 1,844 — — — 1,844 Equity contracts 11 132 285 — — 428 Commodity contracts — 9 — — — 9 Credit contracts — — 32 — — 32 Other contracts — — 14 — — 14 Counterparty netting and cash collateral — — — (3,895) (1,640) (5,535) Total derivative assets 12 5,395 642 (3,895) (1,640) 514 Short-term investments 2,821 2,887 — — — 5,708 Market risk benefit assets — — 796 — — 796 Other assets (c) — — 107 — — 107 Separate account assets 81,655 3,198 — — — 84,853 Total $ 85,189 $ 215,675 $ 29,289 $ (3,895) $ (1,640) $ 324,618 Liabilities: Policyholder contract deposits $ — $ 41 $ 5,367 $ — $ — $ 5,408 Market risk benefit liabilities — — 4,736 — — 4,736 Derivative liabilities (c) : Interest rate contracts — 4,838 — — — 4,838 Foreign exchange contracts — 1,138 — — — 1,138 Equity contracts 2 10 14 — — 26 Credit contracts — 9 32 — — 41 Counterparty netting and cash collateral — — — (3,895) (1,917) (5,812) Total derivative liabilities 2 5,995 46 (3,895) (1,917) 231 Fortitude Re funds withheld payable — — (2,235) — — (2,235) Other liabilities — — 112 — — 112 Long-term debt — 56 — — — 56 Total $ 2 $ 6,092 $ 8,026 $ (3,895) $ (1,917) $ 8,308 (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 $9.9 billion and $9.8 billion as of March 31, 2023 and December 31, 2022, 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-month periods ended March 31, 2023 and 2022 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 March 31, 2023 and 2022: (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended March 31, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 824 $ 1 $ 55 $ (7) $ — $ — $ — $ 873 $ — $ 44 Non-U.S. governments 1 1 — — 7 — — 9 — — Corporate debt 2,847 (102) 51 (201) 274 (421) (16) 2,432 — 50 RMBS 7,553 109 (70) 10 — (21) — 7,581 — (98) CMBS 926 7 (3) 1 34 (27) — 938 — (34) CLO/ABS 12,748 50 271 840 58 (102) 24 13,889 — 229 Total bonds available for sale 24,899 66 304 643 373 (571) 8 25,722 — 191 Other bond securities: Obligations of states, municipalities and political subdivisions — — — 1 — — — 1 — — Corporate debt 416 1 — (96) — (191) — 130 3 — RMBS 173 5 — (12) — — — 166 (3) — CMBS 28 (1) — — — — — 27 (1) — CLO/ABS 910 36 — 18 1 (7) 52 1,010 24 — Total other bond securities 1,527 41 — (89) 1 (198) 52 1,334 23 — Equity securities 39 — — 27 8 — — 74 — — Other invested assets 2,075 (52) 5 58 — — — 2,086 (50) — Other assets 107 — — 3 — — — 110 — — Total (a) $ 28,647 $ 55 $ 309 $ 642 $ 382 $ (769) $ 60 $ 29,326 $ (27) $ 191 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,367 $ 381 $ — $ 316 $ — $ — $ — $ 6,064 $ (368) $ — Derivative liabilities, net: Interest rate contracts (311) 57 — (102) — — — (356) (50) — Equity contracts (271) (56) — (175) — — — (502) 51 136 Other contracts (14) (16) — 16 — — — (14) 16 — Total derivative liabilities, net (b) (596) (15) — (261) — — — (872) 17 136 Fortitude Re funds withheld payable (2,235) 1,165 — (793) — — — (1,863) (759) — Other Liabilities 112 — — — — — — 112 — — Total (c) $ 2,648 $ 1,531 $ — $ (738) $ — $ — $ — $ 3,441 $ (1,110) $ 136 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended March 31, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,431 $ 2 $ (285) $ (61) $ — $ — $ — $ 1,087 $ — $ (273) Non-U.S. governments 7 — — — 1 — — 8 — — Corporate debt 2,641 (11) (73) 177 130 (120) — 2,744 — (69) RMBS 10,378 130 (553) (608) — (422) — 8,925 — (544) CMBS 1,190 8 (67) 32 — (299) — 864 — (64) CLO/ABS 11,215 16 (501) 545 1,115 (614) — 11,776 — (501) Total bonds available for sale 26,862 145 (1,479) 85 1,246 (1,455) — 25,404 — (1,451) Other bond securities: Corporate debt 134 — — 77 61 (12) — 260 — — RMBS 196 (5) (1) 9 — — — 199 (8) — CMBS 35 (2) — — — — — 33 (2) — CLO/ABS 2,332 (114) — 195 57 (2) — 2,468 (161) — Total other bond securities 2,697 (121) (1) 281 118 (14) — 2,960 (171) — Equity securities 6 — (1) 1 — — — 6 — — Other invested assets 1,948 112 (4) (15) 47 (153) — 1,935 121 — Other assets 114 — — (6) — — — 108 — — Total (a) $ 31,627 $ 136 $ (1,485) $ 346 $ 1,411 $ (1,622) $ — $ 30,413 $ (50) $ (1,451) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,572 $ (658) $ — $ 121 $ — $ — $ — $ 5,035 $ 845 $ — Derivative liabilities, net: Interest rate contracts — (1) — (3) — — — (4) 1 — Foreign exchange contracts (1) — — 1 — — — — (1) — Equity contracts (444) 301 — (35) — — — (178) (241) — Credit contracts 30 1 — — — — — 31 (1) — Other contracts (13) (18) — 17 — — — (14) 18 — Total derivative liabilities, net (b) (428) 283 — (20) — — — (165) (224) — Fortitude Re funds withheld payable 5,922 (3,318) — (398) — — — 2,206 3,480 — Total (c) $ 11,066 $ (3,693) $ — $ (297) $ — $ — $ — $ 7,076 $ 4,101 $ — (a) Excludes MRB assets of $830 million and $666 million for the three-month periods ended March 31, 2023 and 2022, respectively. For additional information, see Note 12. (b) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. (c) Excludes MRB liabilities of $5.1 billion and $6.1 billion for the three-month periods ended March 31, 2023 and 2022, respectively. For additional information, see Note 12. Market risk benefits and 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 Net Realized Change in the fair value of market risk benefits, net (a) Other Total Three Months Ended March 31, 2023 Assets: Bonds available for sale $ 62 $ 4 $ — $ — $ 66 Other bond securities 41 — — — 41 Other invested assets (51) (1) — — (52) Three Months Ended March 31, 2022 Assets: Bonds available for sale $ 164 $ (19) $ — $ — $ 145 Other bond securities (121) — — — (121) Other invested assets 112 — — — 112 (in millions) Net Net Realized Change in the fair value of market risk benefits, net (a) Other Total Three Months Ended March 31, 2023 Liabilities: Policyholder contract deposits (b) $ — $ 381 $ — $ — $ 381 Market risk benefit liabilities, net (c) — — 87 — 87 Derivative liabilities, net — (88) 89 (16) (15) Fortitude Re funds withheld payable — 1,165 — — 1,165 Three Months Ended March 31, 2022 Liabilities: Policyholder contract deposits (b) $ — $ (658) $ — $ — $ (658) Market risk benefit liabilities, net (c) — (3) (699) — (702) Derivative liabilities, net — 327 (29) (15) 283 Fortitude Re funds withheld payable — (3,318) — — (3,318) (a) The portion of the fair value change attributable to own credit risk, is recognized in OCI. (b) Primarily embedded derivatives. (c) Market risk benefit assets and liabilities have been netted in the above table for presentation purposes only. (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Three Months Ended March 31, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (4) $ (4) $ (7) Corporate debt 21 — (222) (201) RMBS 290 (19) (261) 10 CMBS 10 (6) (3) 1 CLO/ABS 897 (3) (54) 840 Total bonds available for sale 1,219 (32) (544) 643 Other bond securities: Obligations of states, municipalities and political subdivisions 1 — — 1 Corporate debt — — (96) (96) RMBS 5 — (17) (12) CLO/ABS 46 (4) (24) 18 Total other bond securities 52 (4) (137) (89) (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Equity securities 29 — (2) 27 Other invested assets 72 — (14) 58 Other assets — — 3 3 Total $ 1,372 $ (36) $ (694) $ 642 Liabilities: Policyholder contract deposits $ — $ 326 $ (10) $ 316 Derivative liabilities, net (260) 5 (6) (261) Fortitude Re funds withheld payable — — (793) (793) Total $ (260) $ 331 $ (809) $ (738) Three Months Ended March 31, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (60) $ (2) $ (61) Corporate Debt 9 — 168 177 RMBS 109 — (717) (608) CMBS 70 — (38) 32 CLO/ABS 886 — (341) 545 Total bonds available for sale 1,075 (60) (930) 85 Other bond securities: Corporate debt 19 — 58 77 RMBS 17 — (8) 9 CLO/ABS 323 — (128) 195 Total other bond securities 359 — (78) 281 Equity securities — — 1 1 Other invested assets 258 — (273) (15) Other assets — — (6) (6) Total $ 1,692 $ (60) $ (1,286) $ 346 Liabilities: Policyholder contract deposits $ — $ 195 $ (74) $ 121 Derivative liabilities, net (85) 2 63 (20) Fortitude Re funds withheld payable — — (398) (398) Total $ (85) $ 197 $ (409) $ (297) (a) There were no issuances during the three-month periods ended March 31, 2023 and 2022. 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 March 31, 2023 and 2022 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 $7 million and $(34) million of net gains (losses) related to assets and liabilities transferred into Level 3 during the three-month periods ended March 31, 2023 and 2022, respectively, and includes $(5) million and $(41) million of net gains (losses) related to assets and liabilities transferred out of Level 3 during the three-month periods ended March 31, 2023 and 2022, respectively. Transfers of Level 3 Assets During the three-month periods ended March 31, 2023 and 2022, transfers into Level 3 assets primarily included certain investments in private placement corporate debt, Residential Mortgage-Backed Securities (RMBS), Commercial Mortgage-Backed Securities (CMBS) and Collateralized Loan Obligations (CLO)/Asset-Backed Securities (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 CLO and certain ABS into Level 3 assets were due to diminished market transparency and liquidity for individual security types. During the three-month periods ended March 31, 2023 and 2022, transfers out of Level 3 assets primarily included certain investments in private placement corporate debt, RMBS, CMBS and CLO/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 CLO and certain ABS into Level 3 assets were due to diminished market transparency and liquidity for individual security types. Transfers of Level 3 Liabilities There were no significant transfers of derivative or other liabilities into or out of Level 3 for the three-month periods ended March 31, 2023 and 2022. 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 CLO/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 $ 849 Discounted cash flow Yield 4.91% - 5.55% (5.23%) Corporate debt 2,034 Discounted cash flow Yield 4.76% - 11.60% (7.81%) RMBS (a) 5,035 Discounted cash flow Constant prepayment rate 4.78% - 10.23% (7.50%) Loss severity 44.53% - 77.94% (61.24%) Constant default rate 0.88% - 2.76% (1.82%) Yield 6.25% - 7.89% (7.07%) CLO/ABS (a) 9,288 Discounted cash flow Yield 5.56% - 7.42% (6.49%) CMBS 605 Discounted cash flow Yield 4.28% - 30.14% (13.87%) Market risk benefit assets 830 Discounted cash flow Equity volatility 6.55% - 51.75% Base lapse rate 0.16% - 28.80% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 38.25% - 160.01% Utilization 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.45% Liabilities (d) : Market risk benefit liabilities: Variable annuities guaranteed benefits 2,381 Discounted cash flow Equity volatility 6.55% - 51.75% Base lapse rate 0.16% - 28.80% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 38.25% - 160.01% Utilization 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.45% Fixed annuities guaranteed benefits 806 Discounted cash flow Base lapse rate 0.20% - 15.75% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 40.26% - 168.43% Utilization (g) 90.00% - 97.50% NPA (f) 0.34% - 2.45% Fixed index annuities guaranteed benefits 1,957 Discounted cash flow Equity volatility 6.55% - 51.75% Base lapse rate 0.20% - 50.00% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 97.50% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Option budget 0.00% - 6.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.45% Embedded derivatives within Policyholder contract deposits: Index credits on fixed index annuities 5,269 Discounted cash flow Equity volatility 6.55% - 51.75% Base lapse rate 0.20% - 50.00% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 97.50% Option budget 0.00% - 6.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.45% Index life 795 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 5.75% - 21.40% NPA (f) 0.34% - 2.45% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Assets: Obligations of states, municipalities and political subdivisions $ 799 Discounted cash flow Yield 5.28% - 5.94% (5.61%) Corporate debt 2,527 Discounted cash flow Yield 4.98% - 9.36% (7.17%) RMBS (a) 5,235 Discounted cash flow Constant prepayment rate 4.89% - 10.49% (7.69%) Loss severity 45.06% - 76.87% (60.97%) Constant default rate 0.82% - 2.72% (1.77%) Yield 5.98% - 7.75% (6.87%) CLO/ABS (a) 7,503 Discounted cash flow Yield 6.00% - 7.97% (6.99%) CMBS 587 Discounted cash flow Yield 4.06% - 13.14% (8.60%) Market risk benefit assets 796 Discounted cash flow Equity volatility 6.45% - 50.75% Base lapse rate 0.16% - 28.80% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 38.25% - 160.01% Utilization 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% Liabilities (d) : Market risk benefit liabilities: Variable annuities guaranteed benefits 2,358 Discounted cash flow Equity volatility 6.45% - 50.75% Base lapse rate 0.16% - 28.80% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 38.25% - 160.01% Utilization 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% Fixed annuities guaranteed benefits 680 Discounted cash flow Base lapse rate 0.20% - 15.75% Dynamic lapse multiplier 20.00% - 186.16% Mortality multiplier (e) 40.26% - 168.43% Utilization (g) 90.00% - 97.50% NPA (f) 0.00% - 2.03% Fixed index annuities guaranteed benefits 1,698 Discounted cash flow Equity volatility 6.45% - 50.75% Base lapse rate 0.20% - 50.00% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 97.50% Option budget 0.00% - 5.00% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% Embedded derivatives within Policyholder contract deposits: Index credits on fixed index annuities 4,657 Discounted cash flow Equity volatility 6.45% - 50.75% Base lapse rate 0.20% - 50.00% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 97.50% Option budget 0.00% - 5.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% Index life 710 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 5.75% - 23.63% NPA (f) 0.00% - 2.03% (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 CLO 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 with policyholder contract deposits and market risk benefits 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. The total embedded derivative liability at March 31, 2023 and December 31, 2022 was approximately $1.2 billion and $1.1 billion, respectively. The ranges of reported inputs for Obligations of states, municipalities and political subdivisions, Corporate debt, RMBS, CLO/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

Investments

Investments	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 Bonds available for sale: U.S. government and government sponsored entities $ 5,995 $ — $ 49 $ (289) $ 5,755 Obligations of states, municipalities and political subdivisions 12,344 — 161 (857) 11,648 Non-U.S. governments 14,928 (10) 109 (1,595) 13,432 Corporate debt 157,227 (81) 1,542 (20,117) 138,571 Mortgage-backed, asset-backed and collateralized: RMBS 20,230 (37) 778 (1,368) 19,603 CMBS 16,278 (8) 21 (1,417) 14,874 CLO/ABS 27,177 — 66 (1,729) 25,514 Total mortgage-backed, asset-backed and collateralized 63,685 (45) 865 (4,514) 59,991 Total bonds available for sale (b) $ 254,179 $ (136) $ 2,726 $ (27,372) $ 229,397 December 31, 2022 Bonds available for sale: U.S. government and government sponsored entities $ 7,094 $ — $ 21 $ (496) $ 6,619 Obligations of states, municipalities and political subdivisions 13,195 — 99 (1,195) 12,099 Non-U.S. governments 15,133 (6) 91 (1,733) 13,485 Corporate debt 160,242 (132) 1,152 (23,423) 137,839 Mortgage-backed, asset-backed and collateralized: RMBS 19,584 (37) 807 (1,537) 18,817 CMBS 15,610 (11) 14 (1,420) 14,193 CLO/ABS 25,135 — 38 (2,069) 23,104 Total mortgage-backed, asset-backed and collateralized 60,329 (48) 859 (5,026) 56,114 Total bonds available for sale (b) $ 255,993 $ (186) $ 2,222 $ (31,873) $ 226,156 (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 March 31, 2023 and December 31, 2022, the fair value of bonds available for sale held by us that were below investment grade or not rated totaled $19.6 billion or 9 percent and $22.3 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 March 31, 2023 Bonds available for sale: U.S. government and government sponsored entities $ 3,573 $ 275 $ 256 $ 14 $ 3,829 $ 289 Obligations of states, municipalities and political subdivisions 6,907 832 317 25 7,224 857 Non-U.S. governments 10,501 1,574 442 16 10,943 1,590 Corporate debt 92,595 15,340 25,579 4,739 118,174 20,079 RMBS 9,238 900 2,786 375 12,024 1,275 CMBS 10,228 912 3,333 494 13,561 1,406 CLO/ABS 13,672 816 8,344 913 22,016 1,729 Total bonds available for sale $ 146,714 $ 20,649 $ 41,057 $ 6,576 $ 187,771 $ 27,225 Less than 12 Months 12 Months or More Total (in millions) Fair Gross Fair Gross Fair Gross December 31, 2022 Bonds available for sale: U.S. government and government sponsored entities $ 3,493 $ 368 $ 1,816 $ 128 $ 5,309 $ 496 Obligations of states, municipalities and political subdivisions 8,697 1,180 73 15 8,770 1,195 Non-U.S. governments 10,702 1,526 779 191 11,481 1,717 Corporate debt 110,683 19,756 13,778 3,609 124,461 23,365 RMBS 10,953 1,293 1,005 182 11,958 1,475 CMBS 11,620 1,094 1,728 326 13,348 1,420 CLO/ABS 16,852 1,388 4,307 681 21,159 2,069 Total bonds available for sale $ 173,000 $ 26,605 $ 23,486 $ 5,132 $ 196,486 $ 31,737 At March 31, 2023, we held 34,040 individual fixed maturity securities that were in an unrealized loss position and for which no allowance for credit losses has been recorded (including 5,745 individual fixed maturity securities that were in a continuous unrealized loss position for 12 months or more). At December 31, 2022, we held 36,549 individual fixed maturity securities that were in an unrealized loss position and for which no allowance for credit losses has been recorded (including 4,048 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 March 31, 2023 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 March 31, 2023 Due in one year or less $ 9,146 $ 9,053 Due after one year through five years 47,843 45,864 Due after five years through ten years 43,027 39,247 Due after ten years 90,387 75,242 Mortgage-backed, asset-backed and collateralized 63,640 59,991 Total $ 254,043 $ 229,397 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 March 31, 2023 2022 (in millions) Gross Gross Gross Gross Fixed maturity securities $ 146 $ 598 $ 97 $ 236 For the three-month periods ended March 31, 2023 and 2022, the aggregate fair value of available for sale securities sold was $10.8 billion and $4.8 billion, respectively, which resulted in net realized gains (losses) of $(452) million and $(139) million, respectively. Included within the net realized gains (losses) are $(65) million and $(32) million of net realized gains (losses) for the three-month periods ended March 31, 2023 and 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. 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) March 31, 2023 December 31, 2022 Fair Percent Fair Percent Fixed maturity securities: U.S. government and government sponsored entities $ 1 — % $ — — % Obligations of states, municipalities and political subdivisions 140 3 111 2 Non-U.S. governments 60 1 66 1 Corporate debt 2,546 48 2,392 47 Mortgage-backed, asset-backed and collateralized: RMBS 273 5 286 6 CMBS 317 6 331 7 CLO/ABS and other collateralized 1,425 27 1,299 26 Total mortgage-backed, asset-backed and collateralized 2,015 38 1,916 39 Total fixed maturity securities 4,762 90 4,485 89 Equity securities 591 10 575 11 Total $ 5,353 100 % $ 5,060 100 % OTHER INVESTED ASSETS The following table summarizes the carrying amounts of other invested assets: (in millions) March 31, 2023 December 31, 2022 Alternative investments (a)(b) $ 11,852 $ 11,809 Investment real estate (c) 2,199 2,153 All other investments (d) 2,053 1,991 Total $ 16,104 $ 15,953 (a) At March 31, 2023, included hedge funds of $1.3 billion and private equity funds of $10.5 billion. At December 31, 2022, included hedge funds of $1.4 billion and private equity funds of $10.4 billion. (b) At March 31, 2023, approximately 65 percent of our hedge fund portfolio is available for redemption in 2023. The remaining 35 percent will be available for redemption between 2024 and 2028. (c) Represents values net of accumulated depreciation. At March 31, 2023 and December 31, 2022, the accumulated depreciation was $802 million and $786 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 $156 million at March 31, 2023 and December 31, 2022, respectively. NET INVESTMENT INCOME The following table presents the components of Net investment income: Three Months Ended March 31, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 2,546 $ 243 $ 2,789 $ 2,041 $ 301 $ 2,342 Other fixed maturity securities (a) 12 123 135 (201) (118) (319) Equity securities 51 — 51 (27) — (27) Interest on mortgage and other loans 567 59 626 453 46 499 Alternative investments (b) 76 31 107 669 71 740 Real estate 3 — 3 — — — Other investments (c) 28 (1) 27 157 — 157 Total investment income 3,283 455 3,738 3,092 300 3,392 Investment expenses 196 9 205 146 9 155 Net investment income $ 3,087 $ 446 $ 3,533 $ 2,946 $ 291 $ 3,237 (a) Included in the three-month period ended March 31, 2022 was income (loss) of $(95) million 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-month periods ended March 31, 2023 and 2022 were income (loss) of $(3) million and $91 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 Net realized gains and losses are determined by specific identification. The net realized gains and losses are generated primarily from the following sources: • Sales of available for sale fixed maturity securities, real estate and other alternative investments. • Reductions to the amortized cost basis of available for sale fixed maturity securities that have been written down due to our intent to sell them or it being more likely than not that we will be required to sell them. • Changes in the allowance for credit losses on bonds available for sale, mortgage and other loans receivable, and loans commitments. • Changes in fair value of free standing and embedded derivatives, including changes in the non-performance adjustment, except for those instruments that hedge the change in the fair value of certain MRBs or are designated as hedging instruments when the change in the fair value of the hedged item is not reported in Net realized gains (losses). • Foreign exchange gains and losses resulting from foreign currency transactions. • Changes in fair value of the embedded derivative related to the Fortitude Re funds withheld assets. The following table presents the components of Net realized gains (losses): Three Months Ended March 31, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Sales of fixed maturity securities $ (387) $ (65) $ (452) $ (107) $ (32) $ (139) Change in allowance for credit losses on fixed maturity securities (16) — (16) (53) (40) (93) Change in allowance for credit losses on loans (42) (21) (63) (19) (8) (27) Foreign exchange transactions 114 16 130 (13) (9) (22) Index-linked interest credited embedded derivatives, net of related hedges (178) — (178) 203 — 203 All other derivatives and hedge accounting* (217) 38 (179) 400 (56) 344 Sales of alternative investments and real estate investments 4 1 5 16 1 17 Other 9 — 9 (26) 4 (22) Net realized gains (losses) – excluding Fortitude Re funds withheld embedded derivative (713) (31) (744) 401 (140) 261 Net realized gains (losses) on Fortitude Re funds withheld embedded derivative — (1,165) (1,165) — 3,318 3,318 Net realized gains (losses) $ (713) $ (1,196) $ (1,909) $ 401 $ 3,178 $ 3,579 * Derivative activity related to hedging MRBs is recorded in Change in the fair value of MRBs, net. For additional disclosures about MRBs, see Note 12. 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 March 31, (in millions) 2023 2022 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ 5,005 $ (20,160) Other investments — (7) Total increase (decrease) in unrealized appreciation (depreciation) of investments $ 5,005 $ (20,167) 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 March 31, 2023 2022 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ 51 $ 110 $ 161 $ (27) $ 475 $ 448 Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period 153 1 154 94 (3) 91 Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ (102) $ 109 $ 7 $ (121) $ 478 $ 357 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 2022 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 March 31, 2023 2022 (in millions) Structured Non- Total Structured Non- Total Balance, beginning of year $ 46 $ 140 $ 186 $ 8 $ 90 $ 98 Additions: Securities for which allowance for credit losses were not previously recorded 2 22 24 49 128 177 Reductions: Securities sold during the period (1) (10) (11) — (1) (1) 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 (4) (4) (8) (42) (42) (84) Write-offs charged against the allowance — (50) (50) — — — Other 2 (7) (5) — 1 1 Balance, end of period $ 45 $ 91 $ 136 $ 15 $ 176 $ 191 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 three-month periods ended March 31, 2023 and 2022. 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) March 31, 2023 December 31, 2022 Fixed maturity securities available for sale $ 2,679 $ 2,968 At March 31, 2023 and December 31, 2022, amounts borrowed under repurchase and securities lending agreements totaled $2.6 billion and $3.1 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 up to 31 - 90 91 - 364 365 days Total March 31, 2023 Bonds available for sale: Non-U.S. governments $ — $ 74 $ — $ — $ — $ 74 Corporate debt 28 2,084 493 — — 2,605 Total $ 28 $ 2,158 $ 493 $ — $ — $ 2,679 December 31, 2022 Bonds available for sale: Non-U.S. governments $ — $ 20 $ — $ — $ — $ 20 Corporate debt — 2,371 577 — — 2,948 Total $ — $ 2,391 $ 577 $ — $ — $ 2,968 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 $15.4 billion and $13.6 billion at March 31, 2023 and December 31, 2022, 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 $261 million and $239 million of stock in FHLBs at March 31, 2023 and December 31, 2022, 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 $6.8 billion and $2.1 billion, respectively, at March 31, 2023 and $5.8 billion and $1.8 billion, respectively, at December 31, 2022. 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 $63 million and $63 million, at March 31, 2023 and December 31, 2022, 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 $305 million and $301 million, comprised of bonds available for sale and short-term investments at March 31, 2023 and December 31, 2022, respectively. Reinsurance transactions between AIG and Fortitude Re were structured as modco and loss portfolio transfer arrangements with funds withheld.

Lending Activities

Lending Activities	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Lending Activities	6. Lending Activities The following table presents the composition of Mortgage and other loans receivable, net: (in millions) March 31, 2023 December 31, 2022 Commercial mortgages (a) $ 37,779 $ 37,128 Residential mortgages 6,899 6,130 Life insurance policy loans 1,747 1,758 Commercial loans, other loans and notes receivable (b) 5,191 5,305 Total mortgage and other loans receivable (c) 51,616 50,321 Allowance for credit losses (c) (d) (786) (716) Mortgage and other loans receivable, net (c) $ 50,830 $ 49,605 (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 19 percent and 11 percent, respectively, at March 31, 2023 and 19 percent and 11 percent, respectively, at December 31, 2022). (b) Includes loans held for sale which are carried at lower of cost or market and are collateralized primarily by apartments. As of March 31, 2023 and December 31, 2022, the net carrying value of these loans were $173 million and $170 million, respectively. (c) Excludes $37.6 billion and $37.6 billion, respectively, at March 31, 2023 and December 31, 2022 of loan receivable from AIGFP, which has a full allowance for credit losses, recognized upon the deconsolidation of AIGFP. For additional information, see Note 1. (d) Does not include allowance for credit losses of $62 million and $69 million, respectively, at March 31, 2023 and December 31, 2022, 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 March 31, 2023, $3 million and $727 million of residential mortgage loans and commercial mortgage loans, respectively, are placed on nonaccrual status. As of December 31, 2022, $5 million and $703 million of residential mortgage loans and commercial mortgage loans, respectively, are placed on nonaccrual status. Accrued interest is presented separately and is included in Accrued investment income on the Condensed Consolidated Balance Sheets. As of March 31, 2023, accrued interest receivable was $18 million and $166 million associated with residential mortgage loans and commercial mortgage loans, respectively. As of December 31, 2022, accrued interest receivable was $15 million and $147 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: March 31, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) >1.2X $ 339 $ 5,615 $ 2,441 $ 1,288 $ 5,076 $ 15,838 $ 30,597 1.00 - 1.20X 57 1,051 1,050 909 431 1,686 5,184 <1.00X — 49 — 23 — 1,926 1,998 Total commercial mortgages $ 396 $ 6,715 $ 3,491 $ 2,220 $ 5,507 $ 19,450 $ 37,779 December 31, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) >1.2X $ 5,518 $ 2,457 $ 1,710 $ 4,985 $ 4,120 $ 11,663 $ 30,453 1.00 - 1.20X 910 898 473 416 567 1,353 4,617 <1.00X 45 — 23 52 744 1,194 2,058 Total commercial mortgages $ 6,473 $ 3,355 $ 2,206 $ 5,453 $ 5,431 $ 14,210 $ 37,128 The following table presents loan-to-value ratios (b) for commercial mortgages by year of vintage: March 31, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) Less than 65% $ 354 $ 5,602 $ 2,674 $ 1,786 $ 4,006 $ 14,091 $ 28,513 65% to 75% 42 1,063 527 269 1,451 2,509 5,861 76% to 80% — 50 52 — — 424 526 Greater than 80% — — 238 165 50 2,426 2,879 Total commercial mortgages $ 396 $ 6,715 $ 3,491 $ 2,220 $ 5,507 $ 19,450 $ 37,779 December 31, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) Less than 65% $ 5,425 $ 2,548 $ 1,775 $ 3,958 $ 3,016 $ 10,739 $ 27,461 65% to 75% 998 517 405 1,445 1,487 1,393 6,245 76% to 80% 50 52 — — 168 229 499 Greater than 80% — 238 26 50 760 1,849 2,923 Total commercial mortgages $ 6,473 $ 3,355 $ 2,206 $ 5,453 $ 5,431 $ 14,210 $ 37,128 (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 periods ended on March 31, 2023 and December 31, 2022. 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 59 percent at both periods ended on March 31, 2023 and December 31, 2022. The loan-to-value ratios have been updated within the last three months to reflect the current carrying values of the loans. We update the valuations of collateral properties by obtaining independent appraisals, generally at least once per year. The following table presents supplementary credit quality information related to commercial mortgages: Number Class Percent (dollars in millions) Apartments Offices Retail Industrial Hotel Others Total March 31, 2023 Past Due Status: In good standing 621 $ 14,608 $ 9,950 $ 4,090 $ 6,062 $ 2,082 $ 417 $ 37,209 98 % 90 days or less delinquent 2 360 — — — — — 360 1 >90 days delinquent or in process of foreclosure 4 — 169 41 — — — 210 1 Total (b) 627 $ 14,968 $ 10,119 $ 4,131 $ 6,062 $ 2,082 $ 417 $ 37,779 100 % Allowance for credit losses $ 101 $ 411 $ 87 $ 72 $ 27 $ 8 $ 706 2 % December 31, 2022 Past Due Status: In good standing 625 $ 14,597 $ 10,102 $ 3,774 $ 6,006 $ 2,027 $ 407 $ 36,913 99 % 90 days or less delinquent — — — — — — — — — >90 days delinquent or in process of foreclosure 4 — 173 42 — — — 215 1 Total (a) 629 $ 14,597 $ 10,275 $ 3,816 $ 6,006 $ 2,027 $ 407 $ 37,128 100 % Allowance for credit losses $ 100 $ 351 $ 81 $ 71 $ 29 $ 8 $ 640 2 % (a) Does not reflect allowance for credit losses. The following table presents credit quality performance indicators for residential mortgages by year of vintage: March 31, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) FICO*: 780 and greater $ 70 $ 539 $ 2,328 $ 649 $ 234 $ 637 $ 4,457 720 - 779 269 541 511 168 71 234 1,794 660 - 719 72 231 82 34 16 104 539 600 - 659 2 21 6 1 2 50 82 Less than 600 — — 1 — 2 24 27 Total residential mortgages $ 413 $ 1,332 $ 2,928 $ 852 $ 325 $ 1,049 $ 6,899 December 31, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) FICO*: 780 and greater $ 296 $ 2,204 $ 654 $ 232 $ 77 $ 567 $ 4,030 720 - 779 536 728 168 76 32 169 1,709 660 - 719 163 80 28 16 9 62 358 600 - 659 2 4 2 2 2 14 26 Less than 600 — — — 1 — 6 7 Total residential mortgages $ 997 $ 3,016 $ 852 $ 327 $ 120 $ 818 $ 6,130 * 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 2022 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 March 31, 2023 (b) 2022 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of year $ 640 $ 76 $ 716 $ 545 $ 84 $ 629 Loans charged off — — — (4) — (4) Net charge-offs — — — (4) — (4) Addition to (release of) allowance for loan losses 66 4 70 (8) — (8) Allowance, end of period $ 706 $ 80 $ 786 $ 533 $ 84 $ 617 (a) Does not include allowance for credit losses of $62 million and $106 million, respectively, at March 31, 2023 and 2022 in relation to off-balance-sheet commitments to fund commercial mortgage loans, which is recorded in Other liabilities. (b) Excludes $37.6 billion and $37.6 billion, respectively, at March 31, 2023 and December 31, 2022, of loan receivable from AIGFP, which has a full allowance for credit losses, recognized upon the deconsolidation of AIGFP. For additional information, see Note 1. 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. LOAN MODIFICATIONS The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon asset origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. We use a probability of default/loss given default model to determine the allowance for credit losses for our commercial and residential mortgage loans. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses utilizing the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. When modifications are executed, they often will be in the form of principal forgiveness, term extensions, interest rate reductions, or some combination of any of these concessions. When principal is forgiven, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses. 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. During the three-month period ended March 31, 2023, AIG did not modify any loans to borrowers experiencing financial difficulty. There were no loans that had defaulted during the three-month period ended March 31, 2023, that had been previously modified with borrowers experiencing financial difficulties. Prior to January 1, 2023, we were required to assess loan modifications to determine if they were a troubled debt restructuring. A troubled debt restructuring was a modification of a loan with a borrower that was experiencing financial difficulty and the modification involved us granting a concession to the troubled borrower. Concessions previously granted included extended maturity dates, interest rate changes, principal or interest forgiveness, payment deferrals and easing of loan covenants.

Reinsurance

Reinsurance	3 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Reinsurance	7. Reinsurance In the ordinary course of business, our insurance companies purchase both treaty and facultative reinsurance to limit potential losses, provide additional capacity for growth, minimize exposure to significant risks or to facilitate greater diversification of our businesses. In addition, certain of our General Insurance subsidiaries sell reinsurance to other insurance companies. We determine the portion of our ultimate net loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased. This determination involves an estimate of incurred but not reported (IBNR) loss. Reinsurance recoverables for contracts which are accounted for as deposits are subject to similar judgments and uncertainties and reported in Other assets. Reinsurance assets include the balances due for paid losses and expenses, reserves for losses and expenses reported and outstanding, reserves for IBNR, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid. Amounts related to paid and reserved losses and expenses and benefits with respect to these reinsurance agreements are sometimes collateralized. We remain liable to our policyholders regardless of whether our reinsurers meet their obligations under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk. The estimation of the allowance for unrecoverable reinsurance from reinsurers who are unwilling and/or unable to pay amounts due us requires judgment for which key inputs typically include historical collection rates when amounts due are in dispute or where the reinsurer has suffered a credit event as well as specific reviews of balances in dispute or subject to credit impairment. Changes in the allowance for credit losses and disputes on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Condensed Consolidated Statements of Income (Loss). PRIOR TO THE ADOPTION OF THE TARGETED IMPROVEMENTS TO THE ACCOUNTING FOR LONG-DURATION CONTRACTS STANDARD Assumptions used in estimating reinsurance recoverables related to coinsurance or modco contracts were consistent with those used in estimating the related liabilities and reflected locked-in assumptions, absent a loss recognition event. Amounts recoverable on YRT treaties were recognized when claims were incurred on the reinsured policies. SUBSEQUENT TO THE ADOPTION OF THE TARGETED IMPROVEMENTS TO THE ACCOUNTING FOR LONG-DURATION CONTRACTS STANDARD Reinsurance recoverables are recognized in a manner consistent with the liabilities relating to the underlying reinsured contracts. The reinsurance recoverables for coinsurance and modco contracts, along with amounts recoverable on YRT treaties are determined based on updated net premium ratios, reflecting updated actuarial assumptions using locked-in upper-medium investment instrument yield discount rates with changes recognized as remeasurement gains and losses reported in income. In addition, reinsurance recoverables are remeasured at the balance sheet date using current upper-medium grade discount rates with changes reported in OCI. For reinsurance agreements that reinsure existing, or non-contemporaneous (in-force) traditional and limited payment long-duration insurance contracts, the reinsurance recoverable is measured using the upper-medium grade fixed-income instrument yield discount rate assumption related to the effective date of the reinsurance contract. Therefore, for non-contemporaneous reinsurance agreements executed after January 1, 2021, the locked-in rate to accrete interest into the income statement related to the reinsurance recoverable would be different from the locked-in rate used for accreting interest on the direct reserve for future policy benefits. Certain reinsured guaranteed benefits previously reported as reinsurance recoverables are classified as Market risk benefit assets in the Condensed Consolidated Balance Sheets and are measured at fair value. The following tables present the transition rollforward for Reinsurance assets: (in millions) Individual Life Institutional Total Reinsurance assets - other, net of allowance for credit losses and disputes (a) Pre-adoption, December 31, 2020 $ 309 $ 2,370 $ 28 $ 2,707 Reclassification of Cost of Reinsurance (b) — 416 — 416 Reclassification to Market risk benefits (35) — — (35) Change in cash flow assumptions and effect of net premiums exceeding gross premiums — 9 — 9 Change due to the current upper-medium grade discount rate — 74 5 79 Post adoption January 1, 2021 $ 274 $ 2,869 $ 33 $ 3,176 (a) Excludes $36.3 billion of Reinsurance assets - other, net of allowance for credit losses and disputes in General Insurance and Other Operations. (b) Cost of reinsurance is reported in Other liabilities in the Condensed consolidated Balance sheets. (in millions) Total Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes* Pre-adoption, December 31, 2020 $ 29,135 Change in cash flow assumptions and effect of net premiums exceeding gross premiums 55 Change due to the current upper-medium grade discount rate 7,611 Post adoption January 1, 2021 $ 36,801 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Excludes $5.4 billion of Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes in General Insurance and Other Operations. The remeasurement of the reinsurance assets using the current upper-medium grade discount rate is offset in AOCI. 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)). 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. As of March 31, 2023, approximately $28.0 billion of reserves from our Life and Retirement Run-Off Lines and approximately $3.2 billion of reserves from our General Insurance Run-Off Lines related to business written by multiple wholly-owned AIG subsidiaries, had been ceded to Fortitude Re under these reinsurance transactions. 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: March 31, 2023 December 31, 2022 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 18,640 $ 18,640 $ 18,821 $ 18,821 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 4,406 4,406 4,182 4,182 Fair value through net investment income Commercial mortgage loans 4,152 3,927 4,107 3,837 Amortized cost Real estate investments 130 315 133 348 Amortized cost Private equity funds / hedge funds 1,901 1,901 1,893 1,893 Fair value through net investment income Policy loans 345 345 355 355 Amortized cost Short-term investments 184 184 75 75 Fair value through net investment income Funds withheld investment assets 29,758 29,718 29,566 29,511 Derivative assets, net (b) 80 80 90 90 Fair value through net realized gains (losses) Other (c) 570 570 782 782 Amortized cost Total $ 30,408 $ 30,368 $ 30,438 $ 30,383 (a) The change in the net unrealized gains (losses) on available for sale securities related to the Fortitude Re funds withheld assets was $704 million ($556 million after-tax) and $(3.3) billion ($(2.6) billion after-tax), respectively for three months ended March 31, 2023 and 2022. (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 $278 million and $24 million, respectively, as of March 31, 2023. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $192 million and $28 million, respectively, as of December 31, 2022. 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 March 31, (in millions) 2023 2022 Net investment income - Fortitude Re funds withheld assets $ 446 $ 291 Net realized gains (losses) on Fortitude Re funds withheld assets: Net realized losses - Fortitude Re funds withheld assets (31) (140) Net realized gains (losses) - Fortitude Re funds withheld embedded derivative (1,165) 3,318 Net realized gains (losses) on Fortitude Re funds withheld assets (1,196) 3,178 Income (loss) from continuing operations before income tax expense (benefit) (750) 3,469 Income tax expense (benefit) (a) (158) 728 Net income (loss) (592) 2,741 Change in unrealized appreciation (depreciation) of all other investments (a) 556 (2,638) Comprehensive income (loss) $ (36) $ 103 (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 – 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. 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 on uncollectible reinsurance 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 classified 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 recoverable's 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 March 31, 2023 were $75.2 billion. As of that date, utilizing AIG’s ORRs, (i) approximately 93 percent of the reinsurance recoverables were investment grade, of which 51 percent related to General Insurance and 42 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) less than one percent of the reinsurance recoverables related to entities that were not rated by AIG. The total reinsurance recoverables as of December 31, 2022 were $71.8 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. As of March 31, 2023 and December 31, 2022, approximately 77 percent and 77 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 March 31, 2023 2022 (in millions) General Insurance Life and Retirement Total General Insurance Life and Retirement Total Balance, beginning of year $ 260 $ 84 $ 344 $ 281 $ 101 $ 382 Addition to (release of) allowance for expected credit losses and disputes, net (3) (10) (13) 5 4 9 Write-offs charged against the allowance for credit losses and disputes (1) — (1) (2) — (2) Other changes (3) — (3) 2 — 2 Balance, end of period $ 253 $ 74 $ 327 $ 286 $ 105 $ 391 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.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs	3 Months Ended
	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Policy Acquisition Costs	8. Deferred Policy Acquisition Costs DAC represent those costs that are incremental and directly related to the successful acquisition of new or renewal of existing insurance contracts. We defer incremental costs that result directly from, and are essential to, the acquisition or renewal of an insurance contract. Such DAC generally include agent or broker commissions and bonuses, premium taxes, and medical and inspection fees that would not have been incurred if the insurance contract had not been acquired or renewed. Each cost is analyzed to assess whether it is fully deferrable. We partially defer costs, including certain commissions, when we do not believe that the entire cost is directly related to the acquisition or renewal of insurance contracts. Commissions that are not deferred to DAC are recorded in General operating and other expenses in the Condensed Consolidated Statements of Income (Loss). We also defer a portion of employee total compensation and payroll-related fringe benefits directly related to time spent performing specific acquisition or renewal activities, including costs associated with the time spent on underwriting, policy issuance and processing, and sales force contract selling. The amounts deferred are derived based on successful efforts for each distribution channel and/or cost center from which the cost originates. Short-duration insurance contracts: Policy acquisition costs are deferred and amortized over the period in which the related premiums written are earned, generally 12 months. DAC is grouped consistent with the manner in which the insurance contracts are acquired, serviced and measured for profitability and is reviewed for recoverability based on the profitability of the underlying insurance contracts. Investment income is anticipated in assessing the recoverability of DAC. We assess the recoverability of DAC on an annual basis or more frequently if circumstances indicate an impairment may have occurred. This assessment is performed by comparing recorded net unearned premiums and anticipated investment income on in-force business to the sum of expected losses and loss adjustment expenses incurred, unamortized DAC and maintenance costs. If the sum of these costs exceeds the amount of recorded net unearned premiums and anticipated investment income, the excess is recognized as an offset against the asset established for DAC. This offset is referred to as a premium deficiency charge. Increases in expected losses and loss adjustment expenses incurred can have a significant impact on the likelihood and amount of a premium deficiency charge. PRIOR TO THE ADOPTION OF THE TARGETED IMPROVEMENTS TO THE ACCOUNTING FOR LONG-DURATION CONTRACTS STANDARD Long-duration insurance contracts: Policy acquisition costs for participating life, traditional life and accident and health insurance products were generally deferred and amortized, with interest, over the premium paying period. The assumptions used to calculate the benefit liabilities and DAC for these traditional products were set when a policy was issued and did not change with changes in actual experience, unless a loss recognition event occurred. These “locked-in” assumptions included mortality, morbidity, persistency, maintenance expenses and investment returns, and included margins for adverse deviation to reflect uncertainty given that actual experience might deviate from these assumptions. A loss recognition event occurred when there was a shortfall between the carrying amount of future policy benefit liabilities, net of DAC, and what the future policy benefit liabilities, net of DAC, would be when applying updated current assumptions. When we determined a loss recognition event had occurred, we first reduced any DAC related to that block of business through amortization of acquisition expense, and after DAC was depleted, we recorded additional liabilities through a charge to Policyholder benefits and losses incurred. Groupings for loss recognition testing were consistent with our manner of acquiring, servicing and measuring the profitability of the business and applied by product groupings. We performed separate loss recognition tests for traditional life products, payout annuities and long-term care products. Our policy was to perform loss recognition testing net of reinsurance. Once loss recognition had been recorded for a block of business, the old assumption set was replaced, and the assumption set used for the loss recognition would then be subject to the lock-in principle. Investment-oriented contracts: Certain policy acquisition costs and policy issuance costs related to investment-oriented contracts, for example universal life, variable and fixed annuities, and fixed index annuities, were deferred and amortized, with interest, in relation to the incidence of EGPs to be realized over the estimated lives of the contracts. EGPs were affected by a number of factors, including levels of current and expected interest rates, net investment income and spreads, net realized gains and losses, fees, surrender rates, mortality experience, policyholder behavior experience and equity market returns and volatility. In each reporting period, current period amortization expense was adjusted to reflect actual gross profits. If the assumptions used for estimating gross profit changed significantly, DAC was recalculated using the new assumptions, including actuarial assumptions such as mortality, lapse, benefit utilization, and premium persistency, and any resulting adjustment was included in income. If the new assumptions indicated that future EGPs were higher than previously estimated, DAC was increased resulting in a decrease in amortization expense and increase in income in the current period; if future EGPs were lower than previously estimated, DAC was decreased resulting in an increase in amortization expense and decrease in income in the current period. Updating such assumptions may result in acceleration of amortization in some products and deceleration of amortization in other products. DAC was grouped consistent with the manner in which the insurance contracts were acquired, serviced and measured for profitability and was reviewed for recoverability based on the current and projected future profitability of the underlying insurance contracts. To estimate future EGPs for variable life and annuity products, a long-term annual asset growth assumption was applied to determine the future growth in assets and related asset-based fees. In determining the asset growth rate, the effect of short-term fluctuations in the equity markets was partially mitigated through the use of a “reversion to the mean” methodology for variable annuities, whereby short-term asset growth above or below long-term annual rate assumptions impacted the growth assumption applied to the five-year period subsequent to the current balance sheet date. The reversion to the mean methodology allowed us to maintain our long-term growth assumptions, while also giving consideration to the effect of actual investment performance. When actual performance significantly deviated from the annual long-term growth assumption, as evidenced by growth assumptions in the five-year reversion to the mean period falling below a certain rate (floor) or rising above a certain rate (cap) for a sustained period, judgment was applied to revise or “unlock” the growth rate assumptions to be used for both the five-year reversion to the mean period as well as the long-term annual growth assumption applied to subsequent periods. Unrealized Appreciation (Depreciation) of Investments: DAC related to investment-oriented contracts was also adjusted to reflect the effect of unrealized gains or losses on fixed maturity securities available for sale on EGPs, with related changes recognized through Other comprehensive income. The adjustment was made at each balance sheet date, as if the securities had been sold at their stated aggregate fair value and the proceeds reinvested at current yields. Similarly, for long-duration traditional insurance contracts, if the assets supporting the liabilities were in a net unrealized gain position at the balance sheet date, loss recognition testing assumptions were updated to exclude such gains from future cash flows by reflecting the impact of reinvestment rates on future yields. If a future loss was anticipated under this basis, any additional shortfall indicated by loss recognition tests was recognized as a reduction in OCI. Similar to other loss recognition on long-duration insurance contracts, such shortfall is first reflected as a reduction in DAC and secondly as an increase in liabilities for Future policy benefits. The change in these adjustments, net of tax, was included with the change in net unrealized appreciation of investments that is credited or charged directly to Other comprehensive income. SUBSEQUENT TO THE ADOPTION OF THE TARGETED IMPROVEMENTS TO THE ACCOUNTING FOR LONG-DURATION CONTRACTS STANDARD DAC for all long-duration contracts, except for those with limited to no exposure to policyholder behavior risk, (i.e., certain investment contracts), is grouped and amortized on a constant level basis (i.e., approximating straight line amortization with adjustments for expected terminations) over the expected term of the related contracts using assumptions consistent with those used in estimating the related liability for future policy benefits, or any other related balances, for those corresponding contracts, as applicable. Capitalized expenses are only included in DAC amortization as expenses are incurred. For amortization purposes, contracts are grouped into annual cohorts by issue year and product and to segregate reinsured and non-reinsured contracts. Changes in future assumptions (e.g., expected duration of contracts or amount of coverage expected to be in force) are applied by adjusting the amortization rate prospectively. The Company has elected to implicitly account for actual experience, whether favorable or unfavorable, in its amortization expense each period. DAC is capped at the amount of expenses capitalized as the DAC balance does not accrue interest. DAC is not subject to recoverability testing. VOBA is determined at the time of acquisition and is reported in the Condensed Consolidated Balance Sheets with DAC. This value is based on the present value of future pre-tax profits discounted at yields applicable at the time of purchase. VOBA is amortized, consistent with DAC, i.e., over the life of the business on a constant level basis. Internal Replacements of Long-duration and Investment-oriented Products: the accounting of internal replacements has generally not been impacted by the adoption of LDTI. The following table presents the transition rollforward for DAC*: Individual Group Life Institutional Total (in millions) Pre-adoption December 31, 2020 DAC balance $ 2,359 $ 560 $ 4,371 $ 26 $ 7,316 Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) 2,062 534 547 7 3,150 Post adoption January 1, 2021 DAC balance $ 4,421 $ 1,094 $ 4,918 $ 33 $ 10,466 * Excludes $2.5 billion of DAC in General Insurance. Prior to the adoption of LDTI, DAC for investment-oriented products included the effect of unrealized gains or losses on fixed maturity securities classified as available for sale. At the transition date, these adjustments were removed with a corresponding offset in AOCI. As the available for sale portfolio was in an unrealized gain position as of the transition date, the adjustment for removal of related balances in AOCI originating from unrealized gains (losses) balances was reducing DAC. The following table presents a rollforward of DAC: Three Months Ended March 31, 2023 General Individual Group Life Institutional (in millions) Total Balance, beginning of year $ 2,310 $ 4,597 $ 1,060 $ 4,839 $ 51 $ 12,857 Capitalization 1,358 187 20 120 4 1,689 Amortization expense (1,034) (137) (21) (99) (2) (1,293) Other, including foreign exchange 40 — — 11 — 51 Balance, end of period $ 2,674 $ 4,647 $ 1,059 $ 4,871 $ 53 $ 13,304 Three Months Ended March 31, 2022 Balance, beginning of year $ 2,428 $ 4,553 $ 1,078 $ 4,904 $ 38 $ 13,001 Capitalization 1,129 143 15 112 3 1,402 Amortization expense (893) (118) (19) (106) (1) (1,137) Other, including foreign exchange (16) — — (30) (1) (47) Balance, end of period $ 2,648 $ 4,578 $ 1,074 $ 4,880 $ 39 $ 13,219 DEFERRED SALES INDUCEMENTS We offer deferred sales inducements (DSI) which include enhanced crediting rates or bonus payments to contract holders (bonus interest) on certain annuity and investment contract products. To qualify for such accounting treatment as an asset, the bonus interest must be explicitly identified in the contract at inception. We must also demonstrate that such amounts are incremental to amounts we credit on similar contracts without bonus interest and are higher than the contracts’ expected ongoing crediting rates for periods after the bonus period. DSI is reported in Other assets, while amortization related to DSI is recorded in Interest credited to policyholder account balances. Prior to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard DSI amounts were deferred and amortized over the life of the contract in relation to the incidence of EGPs to be realized over the estimated lives of the contracts. DSI was adjusted for the effect on EGPs of unrealized gains and losses on available-for-sale securities, with related changes recognized through Other comprehensive income. Subsequent to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard DSI amounts are deferred and amortized on a constant level basis over the life of the contract consistent with DAC, changes in future assumptions (e.g., expected duration of contracts) are applied by adjusting the amortization rate prospectively rather than through a retrospective catch up adjustment. The Company has elected to implicitly account for actual experience, whether favorable or unfavorable, in its amortization expense each period, consistent with DAC. The following table presents the transition rollforward for DSI*: (in millions) Individual Group Total Pre-adoption December 31, 2020 DSI balance $ 190 $ 91 $ 281 Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) 284 114 398 Post adoption January 1, 2021 DSI balance $ 474 $ 205 $ 679 * Others assets, excluding DSI, totaled $12.8 billion. Prior to the adoption of LDTI, deferred sales inducements for investment-oriented products included the effect of unrealized gains or losses on fixed maturity securities classified as available-for-sale. At the transition date, these adjustments were removed with a corresponding offset in AOCI. As the available for sale portfolio was in an unrealized gain position as of the transition date, the adjustment for removal of related balances in AOCI originating from unrealized gains (losses) balances was reducing DSI. The following table presents a rollforward of DSI: Three Months Ended March 31, 2023 2022 (in millions) Individual Group Total Individual Group Total Balance, beginning of year $ 381 $ 177 $ 558 $ 428 $ 191 $ 619 Capitalization 2 — 2 2 — 2 Amortization expense (14) (3) (17) (13) (4) (17) Balance, end of period* $ 369 $ 174 $ 543 $ 417 $ 187 $ 604 * At March 31, 2023 and March 31, 2022, Others assets, excluding DSI, totaled $12.4 billion and $12.6 billion, respectively.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	9. 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 (e) Total March 31, 2023 Assets: Bonds available for sale $ — $ 1,627 $ 1,627 Equity securities 40 — 40 Mortgage and other loans receivable — 2,165 2,165 Other invested assets Alternative investments (a) 2,840 — 2,840 Investment real estate 1,766 — 1,766 Short-term investments 190 166 356 Cash 96 — 96 Accrued investment income — 7 7 Other assets 134 6 140 Total (b) $ 5,066 $ 3,971 $ 9,037 Liabilities: Debt of consolidated investment entities $ 1,339 $ 2,419 $ 3,758 Other (c) 96 29 125 Total $ 1,435 $ 2,448 $ 3,883 (in millions) Real Estate and Investment Entities (d) Securitization Vehicles (e) Total December 31, 2022 Assets: Bonds available for sale $ — $ 3,672 $ 3,672 Equity securities 51 — 51 Mortgage and other loans receivable — 2,221 2,221 Other invested assets Alternative investments (a) 2,842 — 2,842 Investment real estate 1,731 — 1,731 Short-term investments 191 281 472 Cash 71 — 71 Accrued investment income — 9 9 Other assets 102 70 172 Total (b) $ 4,988 $ 6,253 $ 11,241 Liabilities: Debt of consolidated investment entities $ 1,358 $ 4,336 $ 5,694 Other (c) 85 47 132 Total $ 1,443 $ 4,383 $ 5,826 (a) Comprised primarily of investments in real estate joint ventures at March 31, 2023 and December 31, 2022. (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities at March 31, 2023 and December 31, 2022. (d) At March 31, 2023 and December 31, 2022, off-balance sheet exposure primarily consisting of our insurance companies’ commitments to real estate and investment entities were $2.0 billion and $2.1 billion, respectively, of which commitments to external parties were $0.5 billion and $0.6 billion, respectively. (e) During the three-month period ended March 31, 2023, as part of the sale of AIG Credit Management, LLC, certain consolidated investment entities were deconsolidated. The impact of the deconsolidation was a decrease of $2.1 billion in assets and $1.9 billion in liabilities, resulting in a pre-tax loss of $5 million. 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 (c) Off-Balance Total March 31, 2023 Real estate and investment entities (a) $ 501,701 $ 9,314 $ 3,895 (d) $ 13,209 Other (b) 1,027 58 748 (e) 806 Total $ 502,728 $ 9,372 $ 4,643 $ 14,015 December 31, 2022 Real estate and investment entities (a) $ 504,219 $ 9,145 $ 3,938 (d) $ 13,083 Other (b) 1,302 247 747 (e) 994 Total $ 505,521 $ 9,392 $ 4,685 $ 14,077 (a) Comprised primarily of hedge funds and private equity funds. (b) At March 31, 2023 and December 31, 2022, excludes approximately $2,104 million and $2,057 million, respectively, of VIE assets related to AIGFP and its consolidated subsidiaries, with maximum off-balance sheet exposure to loss of $2,080 million and $2,033 million, respectively. For additional information, see Note 1. (c) At March 31, 2023 and December 31, 2022, $9.3 billion and $9.3 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. (d) These amounts represent our unfunded commitments to invest in private equity funds and hedge funds. (e) 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 2022 Annual Report.

Derivatives and Hedge Accountin

Derivatives and Hedge Accounting	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedge Accounting	10. 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 economically mitigate financial risk associated with embedded derivatives and MRBs in certain insurance liabilities. 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: March 31, 2023 December 31, 2022 Gross Derivative Assets Gross Derivative Liabilities Gross Derivative Assets Gross Derivative Liabilities (in millions) Notional Fair Notional Fair Notional Fair Notional Fair Derivatives designated as hedging instruments: (a) Interest rate contracts $ 671 $ 388 $ 1,652 $ 44 $ 251 $ 355 $ 1,688 $ 66 Foreign exchange contracts 4,500 573 4,717 230 4,543 642 4,899 317 Derivatives not designated as hedging instruments: (a) Interest rate contracts 25,756 2,014 39,840 3,001 39,833 3,367 34,128 4,772 Foreign exchange contracts 10,505 1,079 9,510 573 8,626 1,202 10,397 821 Equity contracts 27,092 683 6,930 60 31,264 428 4,740 26 Commodity contracts 80 7 5 — 212 9 20 — Credit contracts (b) 1,810 33 932 40 1,808 32 933 41 Other contracts (c) 46,652 14 — — 47,184 14 — — Total derivatives, gross $ 117,066 $ 4,791 $ 63,586 $ 3,948 $ 133,721 $ 6,049 $ 56,805 $ 6,043 Counterparty netting (d) (2,382) (2,382) (3,895) (3,895) Cash collateral (e) (1,793) (1,311) (1,640) (1,917) Total derivatives on Condensed Consolidated Balance Sheets (f) $ 616 $ 255 $ 514 $ 231 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) As of March 31, 2023 and December 31, 2022, included CDSs on super senior multi-sector CLOs with a net notional amount of $78 million and $79 million (fair value liability of $32 million and $32 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 $1.9 billion at March 31, 2023 and $2.2 billion at December 31, 2022. Fair value of liabilities related to bifurcated embedded derivatives was $6.1 billion and $5.4 billion, respectively, at March 31, 2023 and December 31, 2022. 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 fixed index annuities and index universal life 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 $2.5 billion and $2.9 billion at March 31, 2023 and December 31, 2022, respectively. 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 $2.2 billion and $2.0 billion at March 31, 2023 and December 31, 2022, 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-month periods ended March 31, 2023 and 2022, we recognized gains (losses) of $(25) million and $87 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 March 31, 2023 Interest rate contracts: Interest credited to policyholder account balances $ 43 $ — $ (47) $ (4) Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) (130) 76 130 76 Three Months Ended March 31, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (21) $ — $ 23 $ 2 Net investment income 1 — (1) — Foreign exchange contracts: Net realized gains/(losses) 109 42 (109) 42 (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): Three Months Ended March 31, Gains (Losses) Recognized in Income (in millions) 2023 2022 By Derivative Type: Interest rate contracts $ 95 $ (613) Foreign exchange contracts (101) 236 Equity contracts (78) (204) Commodity contracts 7 (4) Credit contracts (1) (1) Other contracts 16 18 Embedded derivatives (1,548) 3,979 Total $ (1,610) $ 3,411 By Classification: Policy fees $ 16 $ 15 Net investment income - excluding Fortitude Re funds withheld assets — (1) Net investment income - Fortitude Re funds withheld assets (2) — Net realized gains (losses) - excluding Fortitude Re funds withheld assets (391) 607 Net realized gains (losses) on Fortitude Re funds withheld assets (a) (1,127) 3,262 Policyholder benefits and claims incurred 3 (7) Change in the fair value of market risk benefits, net (b) (109) (465) Total $ (1,610) $ 3,411 (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. (b) This represents activity related to derivatives that economically hedged changes in the fair value of certain market risk benefits. CREDIT RISK-RELATED CONTINGENT FEATURES We estimate that at March 31, 2023, 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 $6 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 $32 million and $32 million at March 31, 2023 and December 31, 2022, respectively. The aggregate fair value of assets posted as collateral under these contracts at March 31, 2023 and December 31, 2022, was approximately $34 million and $34 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, CLOs 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 value of these hybrid securities was under $1 million at both March 31, 2023 and December 31, 2022, respectively. These securities have par amounts of $42 million and $42 million at March 31, 2023 and December 31, 2022, respectively, and have remaining stated maturity dates that extend to 2052.

Insurance Liabilities

Insurance Liabilities	3 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Insurance Liabilities	11. 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. 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. 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. 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 $12.5 billion and $12.1 billion at March 31, 2023 and December 31, 2022, 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 March 31, 2023 and December 31, 2022 we held collateral of approximately $8.7 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 March 31, 2023 and December 31, 2022. The following table presents the rollforward of activity in loss reserves: Three Months Ended March 31, (in millions) 2023 2022 Liability for unpaid loss and loss adjustment expenses, beginning of year $ 75,167 $ 79,026 Reinsurance recoverable (32,102) (35,213) Net Liability for unpaid loss and loss adjustment expenses, beginning of year 43,065 43,813 Losses and loss adjustment expenses incurred: Current year 3,784 3,882 Prior years, excluding discount and amortization of deferred gain (27) (51) Prior years, discount charge (benefit) 94 4 Prior years, amortization of deferred gain on retroactive reinsurance (a) (60) (42) Total losses and loss adjustment expenses incurred 3,791 3,793 Losses and loss adjustment expenses paid: Current year (289) (323) Prior years (3,549) (3,442) Total losses and loss adjustment expenses paid (3,838) (3,765) Other changes: Foreign exchange effect 397 4 Retroactive reinsurance adjustment (net of discount) (b) 12 17 Total other changes 409 21 Liability for unpaid loss and loss adjustment expenses, end of year: Net liability for unpaid losses and loss adjustment expenses 43,427 43,862 Reinsurance recoverable 32,366 34,321 Total $ 75,793 $ 78,183 (a) Includes $7 million and $4 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 March 31, 2023 and 2022, respectively. (b) Includes benefit (charge) from change in discount on retroactive reinsurance in the amount of $70 million and $39 million for the three-month periods ended March 31, 2023 and 2022, 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 March 31, 2023, we recognized favorable prior year loss reserve development of $27 million excluding discount and amortization of deferred gain. The development in this period was largely driven by favorable development on U.S. Workers Compensation and Other product lines, partially offset by unfavorable development on prior year catastrophes. During the three-month period ended March 31, 2022, we recognized favorable prior year loss reserve development of $51 million excluding discount and amortization of deferred gain. The development in this period was primarily driven by favorable development on U.S. Workers Compensation and Japan Personal Insurance, partially offset by unfavorable development on U.S. Property and Special Risks. Discounting of Loss Reserves At March 31, 2023 and December 31, 2022, the loss reserves reflect a net loss reserve discount of $1.3 billion and $1.3 billion, 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 March 31, 2023 and December 31, 2022, the discount consists of $332 million and $314 million of tabular discount, respectively, and $952 million and $964 million of non-tabular discount for workers’ compensation, respectively. During the three-month periods ended March 31, 2023 and 2022, the benefit / (charge) from changes in discount of $(64) million and $20 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) March 31, 2023 December 31, 2022 U.S. workers' compensation $ 2,468 $ 2,532 Retroactive reinsurance (1,184) (1,254) Total reserve discount (a)(b) $ 1,284 $ 1,278 (a) Excludes $139 million and $135 million of discount related to certain long-tail liabilities in the UK at March 31, 2023 and December 31, 2022, respectively. (b) Includes gross discount of $755 million and $763 million, which was 100 percent ceded to Fortitude Re at March 31, 2023 and December 31, 2022, respectively. The following table presents the net loss reserve discount benefit (charge): Three Months Ended March 31, (in millions) 2023 2022 Current accident year $ 30 $ 24 Accretion and other adjustments to prior year discount (94) (4) Net reserve discount benefit (charge) (64) 20 Change in discount on loss reserves ceded under retroactive reinsurance 70 39 Net change in total reserve discount* $ 6 $ 59 * Excludes $4 million and $2 million of discount related to certain long-tail liabilities in the UK for the three-month periods ended March 31, 2023 and 2022, respectively. Amortization of Deferred Gain on Retroactive Reinsurance Amortization of the deferred gain on retroactive reinsurance includes $53 million and $38 million related to the adverse development reinsurance cover with NICO for the three-month periods ended March 31, 2023 and 2022, 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. FUTURE POLICY BENEFITS Future policy benefits primarily include reserves for traditional life and annuity payout contracts, which represent an estimate of the present value of future benefits less the present value of future net premiums. Included in Future policy benefits are liabilities for annuities issued in structured settlement arrangements whereby a claimant receives life contingent payments over their lifetime. Also included are pension risk transfer arrangements whereby an upfront premium is received in exchange for guaranteed retirement benefits. All payments under these arrangements are fixed and determinable with respect to their amounts and dates. Prior to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard Future policy benefits for traditional and limited pay contracts were reserved using actuarial assumptions locked-in at contract issuance. These assumptions were only updated when a loss recognition event occurred. Also included in Future policy benefits were reserves for contracts in loss recognition, including the adjustment to reflect the effect of unrealized gains on fixed maturity securities available for sale with related changes recognized through Other comprehensive income (loss). Future policy benefits also included certain guaranteed benefits of annuity products that were not considered embedded derivatives. Subsequent to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard For traditional and limited pay long-duration products, benefit reserves are accrued and benefit expense is recognized using a net premiums ratios (NPR) methodology for each annual cohort of business. This NPR method incorporates periodic retrospective revisions to the NPR to reflect updated actuarial assumptions and variances in actual versus expected experience. The Future policy benefit liability is accrued by multiplying the gross premium recognized in each period by the net premium ratio. The net premium is equal to the portion of the gross premium required to provide for all benefits and certain expenses and may not exceed 100 percent. Benefits in excess of premiums are expensed immediately through Policyholder benefits. In addition, periodic revisions to the NPR below 100 percent may result in reclassification between the benefit reserves and deferred profit liability for limited pay contracts. Insurance contracts are aggregated into annual cohorts for the purposes of determining the liability for future policy benefits (LFPB), but are not aggregated across segments. These annual cohorts may be further segregated based on product characteristics, or to distinguish business reinsured from non-reinsured business or products issued in different functional currencies. The assumptions used to calculate the future policy benefits include discount rates, persistency and recognized morbidity and mortality tables modified to reflect the Company's experience. The current discount rate assumption for the liability for future policy benefits is derived from market observable yields on upper-medium-grade fixed income instruments. The Company uses an external index as the source of the yields on these instruments for the first 30 years. For years 30 to 50, the yield is derived using market observable credit spreads. Yields for years 50 to 100 are extrapolated using a flat forward approach, maintaining a constant forward spread through the period. The current discount rate assumption is updated quarterly and used to remeasure the liability at the reporting date, with the resulting change in the discount rate reflected in Other comprehensive income. The method for constructing and applying the locked-in discount rate assumptions on newly issued business is determined based on factors such as product characteristics and the expected timing of cash flows. This discount rate assumption is derived from market observable yields on upper-medium-grade fixed income instruments. Similar to the current discount rate assumption, the Company may employ conversion and interpolation methodologies when necessary. The applicable interest accretion is reflected in Policyholder benefits and losses incurred in the Condensed Consolidated Statements of Income (Loss). The following table presents the transition rollforward of the liability for future policy benefits for nonparticipating contracts (a) : Individual Group Life Institutional Other (b) Total (in millions) Pre-adoption December 31, 2020 liability for future policy benefits balance $ 1,309 $ 282 $ 11,129 $ 11,029 $ 22,206 $ 45,955 Adjustments for the reclassification to the deferred profit liability (65) (8) — (766) (859) (1,698) Change in cash flow assumptions and effect of net premiums exceeding gross premiums (14) 2 15 4 55 62 Effect of the remeasurement of the liability at a current single A rate 156 63 2,977 1,655 7,611 12,462 Adjustment for the removal of loss recognition balances related to unrealized gain or loss on securities (64) (60) 4 (292) — (412) Post adoption January 1, 2021 liability for future policy benefits balance $ 1,322 $ 279 $ 14,125 $ 11,630 $ 29,013 $ 56,369 (a) Excludes future policy benefits for participating contracts, DPL, additional liabilities, Accident and Health, Group Benefits and Other Operations representing $11.0 billion of liability for future policy benefits. See transition tables below for DPL and additional liabilities. (b) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Adjustments for the reclassification between the liability for future policy benefits and deferred profit liability represent changes in the net premium ratios that are less than 100 percent at transition for certain limited pay cohorts, resulting in a reclassification between the two liabilities, with no impact on Retained earnings. Adjustments for Changes in cash flow assumptions represents revised net premium ratios in excess of 100 percent for certain cohorts at transition, with an offset to Retained earnings. Prior to adoption, loss recognition for traditional products was adjusted for the effect of unrealized gains on fixed maturity securities available for sale. At the transition date, these adjustments were removed with a corresponding offset in AOCI. The effect of the remeasurement at the current single A rate is reported at the transition date and each subsequent balance sheet date, with an offset in AOCI. The following table presents the balances and changes in the liability for future policy benefits and a reconciliation of the net liability for future policy benefits to the liability for future policy benefits in the Condensed Consolidated Balance Sheets: Three Months Ended March 31, 2023 General Individual Group Life Institutional Other (e) Total (in millions, except for liability durations) Present value of expected net premiums Balance, beginning of year $ 1,929 $ — $ — $ 11,654 $ — $ 991 $ 14,574 Effect of changes in discount rate assumptions (AOCI) 262 — — 1,872 — 66 2,200 Beginning balance at original discount rate 2,191 — — 13,526 — 1,057 16,774 Effect of changes in cash flow assumptions — — — — — — — Effect of actual variances from expected experience (10) 1 — 12 — 3 6 Adjusted beginning of year balance 2,181 1 — 13,538 — 1,060 16,780 Issuances 36 6 — 322 — — 364 Interest accrual 11 — — 106 — 12 129 Net premium collected (57) (7) — (352) — (30) (446) Foreign exchange impact (8) — — 96 — — 88 Other — — — 3 — — 3 Ending balance at original discount rate 2,163 — — 13,713 — 1,042 16,918 Effect of changes in discount rate assumptions (AOCI) (353) — — (1,648) — (48) (2,049) Balance, end of period $ 1,810 $ — $ — $ 12,065 $ — $ 994 $ 14,869 Present value of expected future policy benefits Balance, beginning of year $ 2,380 $ 1,223 $ 211 $ 21,179 $ 12,464 $ 20,429 $ 57,886 Effect of changes in discount rate assumptions (AOCI) 362 167 2 3,424 2,634 1,083 7,672 Beginning balance at original discount rate 2,742 1,390 213 24,603 15,098 21,512 65,558 Effect of changes in cash flow assumptions (a) — — — — — — — Effect of actual variances from expected experience (a) (2) (3) (1) 26 (5) — 15 Adjusted beginning of year balance 2,740 1,387 212 24,629 15,093 21,512 65,573 Issuances 36 70 2 318 1,450 3 1,879 Interest accrual 13 12 3 224 139 257 648 Benefit payments (60) (32) (7) (476) (228) (379) (1,182) Foreign exchange impact (10) — — 277 125 — 392 Other — — — 1 — (3) (2) Ending balance at original discount rate 2,719 1,437 210 24,973 16,579 21,390 67,308 Effect of changes in discount rate assumptions (AOCI) (457) (141) 3 (3,081) (2,302) (492) (6,470) Balance, end of period $ 2,262 $ 1,296 $ 213 $ 21,892 $ 14,277 $ 20,898 $ 60,838 Net liability for future policy benefits, end of period $ 452 $ 1,296 $ 213 $ 9,827 $ 14,277 $ 19,904 $ 45,969 Liability for future policy benefits for certain participating contracts 1,340 Liability for universal life policies with secondary guarantees and similar features (b) 3,512 Deferred profit liability 2,396 Other reconciling items (c) 1,629 Future policy benefits for life and accident and health insurance contracts 54,846 Less: Reinsurance recoverable (24,266) Net liability for future policy benefits after reinsurance recoverable $ 30,580 Weighted average liability duration of the liability for future policy benefits (d) 10.0 7.7 7.1 12.4 11.5 11.6 Three Months Ended March 31, 2022 Individual Group Life Institutional Other (e) Total (in millions, except for liability durations) Present value of expected net premiums Balance, beginning of year $ — $ — $ 14,369 $ — $ 1,274 $ 15,643 Effect of changes in discount rate assumptions (AOCI) — — (706) — (150) (856) Beginning balance at original discount rate — — 13,663 — 1,124 14,787 Effect of changes in cash flow assumptions — — — — — — Effect of actual variances from expected experience — — 29 — 2 31 Adjusted beginning of year balance — — 13,692 — 1,126 14,818 Issuances 4 — 375 — — 379 Interest accrual — — 100 — 13 113 Net premium collected (4) — (355) — (30) (389) Foreign exchange impact — — (140) — — (140) Other — — — — — — Ending balance at original discount rate — — 13,672 — 1,109 14,781 Effect of changes in discount rate assumptions (AOCI) — — (339) — 55 (284) Balance, end of period $ — $ — $ 13,333 $ — $ 1,164 $ 14,497 Present value of expected future policy benefits Balance, beginning of year $ 1,373 $ 264 $ 27,442 $ 13,890 $ 27,674 $ 70,643 Effect of changes in discount rate assumptions (AOCI) (95) (46) (2,717) (870) (5,673) (9,401) Beginning balance at original discount rate 1,278 218 24,725 13,020 22,001 61,242 Effect of changes in cash flow assumptions (a) — — — — — — Effect of actual variances from expected experience (a) 1 (2) 38 (5) (10) 22 Adjusted beginning of year balance 1,279 216 24,763 13,015 21,991 61,264 Issuances 50 5 374 223 3 655 Interest accrual 10 3 221 105 262 601 Benefit payments (28) (8) (523) (198) (382) (1,139) Foreign exchange impact — — (178) (93) — (271) Other — — (1) 1 — — Ending balance at original discount rate 1,311 216 24,656 13,053 21,874 61,110 Effect of changes in discount rate assumptions (AOCI) (24) 25 170 (551) 2,705 2,325 Balance, end of period $ 1,287 $ 241 $ 24,826 $ 12,502 $ 24,579 $ 63,435 Net liability for future policy benefits, end of period $ 1,287 $ 241 $ 11,493 $ 12,502 $ 23,415 $ 48,938 Liability for future policy benefits for certain participating contracts 1,386 Liability for universal life policies with secondary guarantees and similar features (b) 4,223 Deferred profit liability 2,232 Other reconciling items (c) 2,528 Future policy benefits for life and accident and health insurance contracts 59,307 Less: Reinsurance recoverable (29,342) Net liability for future policy benefits after reinsurance recoverable $ 29,965 Weighted average liability duration of the liability for future policy benefits (d) 8.1 7.4 13.6 12.1 12.8 (a) Effect of changes in cash flow assumptions and variances from actual experience are partially offset by changes in the deferred profit liability. (b) Additional details can be found in the table that presents the balances and changes in the liability for universal life policies with secondary guarantees and similar features. (c) Other reconciling items primarily include the Accident and Health as well as Group Benefits (short-duration) contracts. (d) The weighted average liability durations are calculated as the modified duration using projected future net liability cashflows that are aggregated at the segment level, utilizing the segment level weighted average interest rates and current discount rate, which can be found in the table below. (e) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. For the three-month periods ended March 31, 2023 and 2022 in the traditional term life insurance block, capping of net premium ratios at 100 percent causes our reserves to be higher by $7 million and $8 million, respectively. The following table presents the amount of undiscounted expected future benefit payments and expected gross premiums for future policy benefits for nonparticipating contracts: Three Months Ended March 31, (in millions) 2023 2022 General Insurance Expected future benefits and expense $ 3,350 $ 3,318 Expected future gross premiums $ 4,616 $ 4,590 Individual Retirement Expected future benefits and expense $ 2,048 $ 1,757 Expected future gross premiums $ — $ — Group Retirement Expected future benefits and expense $ 317 $ 317 Expected future gross premiums $ — $ — Life Insurance Expected future benefits and expense $ 39,028 $ 38,739 Expected future gross premiums $ 28,964 $ 29,125 Institutional Markets Expected future benefits and expense $ 29,029 $ 20,824 Expected future gross premiums $ — $ — Other* Expected future benefits and expense $ 44,148 $ 45,468 Expected future gross premiums $ 2,225 $ 2,389 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the amount of revenue and interest recognized in the Condensed Consolidated Statements of Income (Loss) for future policy benefits for nonparticipating contracts: Gross Premiums Interest Accretion (in millions) 2023 2022 2023 2022 General Insurance $ 95 $ 97 $ 1 $ 1 Individual Retirement $ 75 $ 51 $ 12 $ 10 Group Retirement 6 8 3 3 Life Insurance 575 582 118 121 Institutional Markets 1,581 244 139 105 Other* 54 56 245 249 Total $ 2,386 $ 1,038 $ 518 $ 489 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the weighted-average interest rate for future policy benefits for nonparticipating contracts: Three Months Ended March 31, 2023 General Individual Group Life Institutional Other* Weighted-average interest rate, original discount rate 1.78 % 3.65 % 5.19 % 4.11 % 3.76 % 4.88 % Weighted-average interest rate, current discount rate 3.64 % 5.33 % 4.91 % 5.08 % 5.04 % 5.10 % Three Months Ended March 31, 2022 Weighted-average interest rate, original discount rate 1.79 % 3.04 % 4.70 % 4.12 % 3.23 % 4.80 % Weighted-average interest rate, current discount rate 2.67 % 3.72 % 3.68 % 3.72 % 3.59 % 3.92 % * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The weighted average interest rates are calculated using projected future net liability cash flows that are aggregated to the segment level, and are represented as an annual rate. Deferred Profit Liability: The Company issues certain annuity and life insurance contracts where premiums are paid up-front or for a shorter period than benefits will be paid (i.e., limited pay contracts). A DPL is required to be established to avoid recognition of gains when these contracts are issued. DPLs are amortized over the life of the contracts to align the revenue recognized with the related benefit expenses. The DPL is amortized in a constant relationship to the amount of discounted insurance in force for life insurance or expected future benefit payments for annuity contracts over the term of the contract. Prior to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard Limited pay contracts were subject to a lock-in concept and assumptions derived at policy issue were not subsequently updated unless a loss recognition event occurred. The net premiums were recorded as revenue. The difference between the gross premium received and the net premium was deferred and recognized in premiums in a constant relationship to insurance in-force, or for annuities, the amount of expected future policy benefits. This unearned revenue (deferred profit) was recorded in the Condensed Consolidated Balance Sheets in Other policyholder funds. Subsequent to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard The difference between the gross premium received and recorded as revenue and the net premium is deferred and recognized in Policyholder benefits in a constant relationship to insurance in-force, or for annuities, the amount of expected future policy benefits. This deferred profit liability accretes interest and is recorded in the Condensed Consolidated Balance Sheets in Future policy benefits. Cash flow assumptions included in the measurement of the DPL are the same as those utilized in the respective LFPBs and are reviewed at least annually. The cash flow estimates for DPLs are updated on a retrospective catch-up basis at the same time as the cash flow estimates for the related LFPBs. The updated LFPB cash flows are used to recalculate the DPL at the inception of the applicable related LFPB cohort. The difference between the recalculated DPL at the beginning of the current reporting period and the carrying amount of the DPL at the current reporting period is recognized as a gain or loss in Policyholder benefits and losses incurred in the Condensed Consolidated Statements of Income (Loss). The following table presents the transition rollforward for deferred profit liability for long-duration contracts*: Individual Group Life Institutional Other* Total (in millions) Pre-adoption December 31, 2020 deferred profit liability balance $ 2 $ — $ 5 $ 64 $ — $ 71 Adjustments for the reclassification from/(to) the liability for the future policy benefits 65 8 — 766 859 1,698 Post adoption January 1, 2021 deferred profit liability balance $ 67 $ 8 $ 5 $ 830 $ 859 $ 1,769 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Adjustments for the reclassification between the liability for future policy benefits and deferred profit liability represent changes in the net premium ratios that are less than 100 percent at transition for certain limited pay cohorts, resulting in a reclassification between the two liabilities, with no impact on retained earnings. Additional Liabilities: For universal-life type products, insurance benefits in excess of the account balance are generally recognized as expenses in the period incurred unless the design of the product is such that future charges are insufficient to cover the benefits, in which case an “additional liability” is accrued over the life of the contract. These additional liabilities are included in Future policy benefits for life and accident and health insurance contracts in the Condensed Consolidated Balance Sheets. Prior to the adoption of the standard, our additional liabilities consisted primarily of GMDBs on annuities, as well as universal-life contracts with secondary guarantees. Subsequent to the adoption of this standard, the GMDBs have been reclassified and reported as MRBs, while the universal-life contracts with secondary guarantees continue to be reported as additional liabilities. The following table presents the transition rollforward of the additional liabilities: Individual Group Life Institutional Other (c) Total (in millions) Pre-adoption December 31, 2020 additional liabilities $ 1,423 $ 221 $ 5,117 $ — $ 55 $ 6,816 Adjustment for the reclassification of additional liabilities from Future policy benefits to Market risk benefits (a) (907) (132) — — — (1,039) Adjustment for removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) (b) (516) (89) — — — (605) Post-adoption January 1, 2021 additional liabilities $ — $ — $ 5,117 $ — $ 55 $ 5,172 (a) Adjustments for the reclassification of additional liabilities from Future policy benefits to MRBs represent contract guarantees (e.g., GMDBs) that were previously classified as insurance liabilities within Future policy benefits, but have been reclassified as MRBs as of January 1, 2021. For additional information on the transition impacts associated with LDTI, see Note 13. (b) Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) relate to the additional liabilities reclassified from Future policy benefits in the line above. (c) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Post-adoption, our additional liabilities primarily consist of universal life policies with secondary guarantees and these additional liabilities are recognized in addition to the Policyholder account balances. For universal life policies with secondary guarantees, as well as other universal life policies for which profits followed by losses are expected at contract inception, a liability is recognized based on a benefit ratio of (a) the present value of total expected payments, in excess of the account value, over the life of the contract, divided by (b) the present value of total expected assessments over the life of the contract. For universal life policies without secondary guarantees, for which profits followed by losses are first expected after contract inception, we establish a liability, in addition to policyholder account balances, so that expected future losses are recognized in proportion to the emergence of profits in the earlier (profitable) years. Universal life account balances are reported within Policyholder contract deposits, while these additional liabilities are reported within the liability for future policy benefits in the Condensed Consolidated Balance Sheets. These additional liabilities are also adjusted to reflect the effect of unrealized gains or losses on fixed maturity securities available for sale on accumulated assessments, with related changes recognized through Other comprehensive income. The policyholder behavior assumptions for these liabilities include mortality, lapses and premium persistency. The capital market assumptions used for the liability for universal life secondary guarantees include discount rates and net earned rates. The following table presents the balances and changes in the liability for universal life policies with secondary guarantees and similar features: Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 (in millions, except duration of liability) Life Other (c) Total Life Other (c) Total Balance, beginning of year (a) $ 3,300 $ 55 $ 3,355 $ 4,952 $ 55 $ 5,007 Effect of changes in experi

Market Risk Benefits

Market Risk Benefits	3 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Market Risk Benefits	12. Market Risk Benefits MRBs are defined as contracts or contract features that both provide protection to the contract holder from other-than-nominal capital market risk and expose AIG to other-than nominal capital market risk. The MRB is an amount that a policyholder receives in addition to the account balance upon the occurrence of a specific event or circumstance, such as death, annuitization, or periodic withdrawal that involves protection from other-than-nominal capital market risk. Certain contract features, such as GMWBs, GMDBs and GMIBs commonly found in variable, fixed index and fixed annuities, are MRBs. MRBs are assessed at contract inception using a non-option method involving attributed fees that results in an initial fair value of zero or an option method that results in a fair value greater than zero. MRBs are recorded at fair value, and AIG applies a non-option attributed fee valuation method for variable products, and an option-based valuation method (host offset) for both fixed index and fixed products. Under the non-option valuation method, the attributed fee is determined at contract inception; it cannot exceed the total contract fees and assessments collectible from the contract holder and cannot be less than zero. Investment margin is excluded from the attributed fee determination. Under the option-based valuation method, an offset to the host amount related to the MRB amount is established at inception. Changes in the fair value of MRBs are recorded in net income in Changes in the fair value of Market Risk Benefits, net and the portion of the fair value change attributable to our own credit risk, is recognized in Other comprehensive income. MRBs are derecognized when the underlying contract is surrendered, a GMDB is incurred, a GMIB is annuitized, or when the account value is exhausted on a policy with a GMWB. When a policyholder elects to annuitize a GMIB rider or the account value on a policy with a GMWB rider is reduced to zero, the policy is converted to a payout annuity automatically. When a conversion occurs, the policyholder is issued a new payout annuity contract. At this point, the MRB is derecognized and a LFPB is established for the payout annuity. Assumptions used to determine the MRB asset (including ceded MRBs) or liability generally include mortality rates that are based upon actual experience modified to allow for variations in policy form; lapse rates that are based upon actual experience modified to allow for variations in policy features; and investment returns, based on stochastically generated scenarios. We evaluate at least annually estimates used to determine the MRB asset or liability and adjust the balance, with a related charge or credit to Change in fair value of MRBs, net, if actual experience or other evidence suggests that earlier assumptions should be revised. In addition, MRBs are valued such that the current provision for nonperformance risk is reflected in the claims cash flows of the asset or liability valuation for direct MRBs. The nonperformance risk spread at contract issue is locked-in. The difference between the MRB valued using the at issue nonperformance risk spread and the current nonperformance risk spread is reported through Other comprehensive income, while changes in the counterparty credit risk related to ceded MRBs are reported in income. Changes in the fair value of MRBs, net represents changes in the fair value of market risk benefit liabilities and assets (with the exception of our own credit risk changes), and includes attributed rider fees and benefits, net of changes in the fair value of derivative instruments and fixed maturity securities that are used to economically hedge market risk from the VA GMWB riders. The following table presents the transition rollforward of MRBs: Individual Group Total (in millions) Pre-adoption December 31, 2020 carrying amount for features now classified as MRBs $ — $ — $ — Adjustment for the reclassification of the embedded derivative liability from policyholder contract deposits, net of the host adjustment(s) (a) 5,671 576 6,247 Adjustment for the reclassification of additional liabilities from Future policy benefits (b) 1,388 221 1,609 Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date (c) 2,140 187 2,327 Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) (d) (516) (89) (605) Adjustment for the remaining difference (exclusive of our own credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB (e) (1,084) (93) (1,177) Post adoption January 1, 2021 carrying amount for features now classified as MRBs $ 7,599 $ 802 $ 8,401 (a) Adjustments for the reclassification from Policyholder contract deposits represents certain contract guarantees (e.g., GMWBs) that were previously classified as embedded derivatives, but have been reclassified as MRBs as of January 1, 2021, and the related host impact. The impact on Retained earnings or AOCI resulting from the simultaneous remeasurement of the guarantee as a market risk benefit is reflected in the lines below. (b) Adjustments for the reclassification from Future policy benefits represents contract guarantees (e.g., GMDBs) that were previously classified as insurance liabilities within Future policy benefits, but have been reclassified as MRBs as of January 1, 2021. The impact on Retained earnings or Other comprehensive income resulting from the simultaneous remeasurement of the guarantee as a market risk benefit is reflected in the lines below. (c) Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date are recognized in AOCI. (d) Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) with an offset to AOCI relate to the additional liabilities reclassified from Future policy benefits in the line above. (e) Adjustment for the remaining difference represents the measurement of MRBs at fair value, excluding the impact of our own credit risk with an offset to Retained earnings. The following is a reconciliation of MRBs by amounts in an asset position and in liability position to the MRB amounts in the Condensed Consolidated Balance Sheets at transition: Individual Group Total (in millions) Market risk benefit in an asset position $ 176 $ — $ 176 Reinsured market risk benefit 162 — 162 Market risk benefit assets, at fair value 338 — 338 Market risk benefit liabilities, at fair value 7,937 802 8,739 Market risk benefit, net, January 1, 2021 $ 7,599 $ 802 $ 8,401 The following table presents the balances of and changes in market risk benefits: Three Months Ended March 31, 2023 Individual Group Total (in millions, except for attained age of contract holders) Balance, beginning of year $ 3,738 $ 296 $ 4,034 Balance, beginning of year, before effect of changes in our own credit risk $ 3,297 $ 272 $ 3,569 Issuances 191 9 200 Interest accrual 38 4 42 Attributed fees 235 17 252 Expected claims (25) (1) (26) Effect of changes in interest rates 478 46 524 Effect of changes in interest rate volatility (73) (4) (77) Effect of changes in equity markets (391) (36) (427) Effect of changes in equity index volatility 16 (3) 13 Actual outcome different from model expected outcome 72 1 73 Effect of changes in future expected policyholder behavior — — — Effect of changes in other future expected assumptions (94) (18) (112) Other, including foreign exchange 1 — 1 Balance, end of period, before effect of changes in our own credit risk 3,745 287 4,032 Effect of changes in our own credit risk 339 32 371 Balance, end of period 4,084 319 4,403 Less: Reinsured MRB, end of period (89) — (89) Net Liability Balance after reinsurance recoverable $ 3,995 $ 319 $ 4,314 Net amount at risk GMDB only $ 1,307 $ 266 $ 1,573 GMWB only $ 63 $ 5 $ 68 Combined* $ 1,726 $ 31 $ 1,757 Weighted average attained age of contract holders 71 64 Three Months Ended March 31, 2022 Individual Group Total (in millions, except for attained age of contract holders) Balance, beginning of year $ 6,452 $ 582 $ 7,034 Balance, beginning of year, before effect of changes in our own credit risk $ 4,518 $ 415 $ 4,933 Issuances 40 5 45 Interest accrual 39 6 45 Attributed fees 197 19 216 Expected claims (13) — (13) Effect of changes in interest rates (1,381) (125) (1,506) Effect of changes in interest rate volatility 172 13 185 Effect of changes in equity markets 387 16 403 Effect of changes in equity index volatility (2) 1 (1) Actual outcome different from model expected outcome 105 16 121 Effect of changes in future expected policyholder behavior — — — Other, including foreign exchange 1 (3) (2) Balance, end of period, before effect of changes in our own credit risk 4,063 363 4,426 Effect of changes in our own credit risk 1,027 82 1,109 Balance, end of period 5,090 445 5,535 Less: Reinsured MRB, end of period (120) — (120) Net Liability Balance after reinsurance recoverable $ 4,970 $ 445 $ 5,415 Net amount at risk GMDB only $ 903 $ 186 $ 1,089 GMWB only $ 264 $ 30 $ 294 Combined* $ 752 $ 16 $ 768 Weighted average attained age of contract holders 70 63 * Certain contracts contain both guaranteed GMDB and GMWB features and are modeled together for the purposes of calculating the MRB. The following is a reconciliation of MRBs by amounts in an asset position and in a liability position to the MRBs amount in the Condensed Consolidated Balance Sheets: March 31, 2023 March 31, 2022 (in millions) Asset* Liability* Net Asset* Liability* Net Individual Retirement $ 685 $ 4,680 $ 3,995 $ 524 $ 5,494 $ 4,970 Group Retirement 145 464 319 142 587 445 Total $ 830 $ 5,144 $ 4,314 $ 666 $ 6,081 $ 5,415 * Cash flows and attributed fees for MRBs are determined on a policy level basis and are reported based on their asset or liability position at the balance sheet date. For additional information related to fair value measurements of MRBs, see Note 4. ANNUITY GUARANTEES Annuity contracts may include certain contractually guaranteed benefits to the contract holder. These guaranteed features include GMDBs that are payable in the event of death and living benefits that are payable when partial withdrawals exhaust a policy’s account value, in the event of annuitization, or, in other instances, at specified dates during the accumulation period. Living benefits primarily include GMWB. A variable annuity contract may include more than one type of guaranteed benefit feature; for example, it may have both GMDB and GMWB. However, a policyholder can only receive payout from one guaranteed feature on a contract containing a death benefit and a living benefit, i.e., the features are mutually exclusive (except a surviving spouse who has a rider to potentially collect both GMDB upon their spouse’s death and GMWB during their lifetime). A policyholder cannot purchase more than one living benefit on one contract. The net amount at risk for each feature is calculated irrespective of the existence of other features; as a result, the net amount at risk for each feature is not additive to that of other features. Guaranteed Benefits on Variable Annuities Depending on the contract, the GMDB feature may provide a death benefit of either (a) total deposits made to the contract, less any partial withdrawals plus a minimum return (and in rare instances, no minimum return), (b) return of premium whereby the benefit is the greater of the current account value or premiums paid less any partial withdrawals, (c) rollups whereby the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified rates up to specified ages, or (d) the highest contract value attained, typically on any anniversary date less any subsequent withdrawals following the contract anniversary. GMDB is our most widely offered benefit. The liability for GMDB, which is recorded in MRBs represents the expected value of benefits discounted at-inception non-performance risk spreads in excess of the projected account value through change in fair value MRBs, net. The net amount at risk for the GMDB feature represents the amount of guaranteed benefits in excess of account value if all policyholders died. Certain of our variable annuity contracts contain optional GMWBs and, to a lesser extent, GMABs. GMWBs related to variable annuity contracts are recorded and are accounted for as MRBs measured at fair value, with changes in the fair value (excluding changes in our own credit risk) recorded in Change in the fair value of MRBs, net. The net amount at risk for the GMWB represents benefits in excess of the account value at the balance sheet assuming the utilization of all benefits by the contract holders at the balance sheet date. Guaranteed Benefits on Fixed Index and Fixed Annuities Certain of our fixed annuity and fixed index annuity contracts, which are not offered through separate accounts, contain optional GMWB. With GMWB, the contract holder can monetize the excess of the guaranteed amount over the account value of the contract through a series of withdrawals that do not exceed a specific percentage per year of the guaranteed amount. Once the account value is exhausted, the contract holder will receive a series of annuity payments equal to the remaining guaranteed amount; for lifetime GMWB products, the annuity payments continue as long as the covered person(s) is living. The liability for GMWB benefits in fixed annuity and fixed index annuity contracts, which are recorded in MRBs, represents the expected value of benefits in excess of the projected account value, with the excess (excluding changes in our own credit risk) recognized at fair value through Change in the fair value of MRBs, net. The liability for all of our GMWB benefits in fixed annuity and fixed index annuity contracts are accounted for as MRBs. For a discussion of the fair value measurement of guaranteed benefits that are accounted for as MRBs, see Note 4.

Separate Account Assets and Lia

Separate Account Assets and Liabilities	3 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Separate Account Assets and Liabilities	13. Separate Account Assets and Liabilities We report variable contracts within the separate accounts when investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder and the separate account meets additional accounting criteria to qualify for separate account treatment. The assets supporting the variable portion of variable annuity and variable universal life contracts that qualify for separate account treatment are carried at fair value and are reported as separate account assets, with an equivalent summary total reported as separate account liabilities. The assets of separate accounts are legally segregated and are not subject to claims that arise from any of our other businesses. Policy values for variable products and investment contracts are expressed in terms of investment units. Each unit is linked to an asset portfolio. The value of a unit increases or decreases based on the value of the linked asset portfolio. The current liability at any time is the sum of the current unit value of all investment units in the separate accounts, plus any liabilities for MRBs. Amounts assessed against the policyholders for mortality, administrative and other services are included in policy fees. Investment performance (including investment income, net investment gains (losses) and changes in unrealized gains (losses)) and the corresponding amounts credited to policyholders of such separate accounts are offset within the same line in the Condensed Consolidated Statements of Income (Loss). For discussion of the fair value measurement of guaranteed benefits that are accounted for as MRBs, see Note 4. Account balances of variable annuity contracts were invested in separate account investment options as follows: March 31, 2023 March 31, 2022 (in millions) Individual Group Individual Group Equity Funds $ 23,845 $ 26,433 $ 26,931 $ 30,844 Bond Funds 3,915 3,571 4,401 4,176 Balanced Funds 17,818 5,254 21,402 5,866 Money Market Funds 718 534 604 456 Total $ 46,296 $ 35,792 $ 53,338 $ 41,342 The following table presents the balances and changes in Separate account liabilities: Three Months Ended March 31, 2023 Individual Group Life Institutional Total (in millions) Balance, beginning of year $ 45,178 $ 34,361 $ 799 $ 4,515 $ 84,853 Premiums and deposits 451 360 9 26 846 Policy charges (344) (110) (12) (24) (490) Surrenders and withdrawals (844) (669) (6) (404) (1,923) Benefit payments (215) (130) (1) (54) (400) Investment performance 2,131 2,186 53 99 4,469 Net transfers from (to) general account 73 (77) (1) 6 1 Other charges — (1) — 2 1 Balance, end of period $ 46,430 $ 35,920 $ 841 $ 4,166 $ 87,357 Cash surrender value* $ 45,388 $ 35,726 $ 794 $ 4,168 $ 86,076 Three Months Ended March 31, 2022 Individual Group Life Institutional Total (in millions) Balance, beginning of year $ 57,927 $ 45,138 $ 1,044 $ 5,002 $ 109,111 Premiums and deposits 758 440 10 30 1,238 Policy charges (321) (127) (13) (25) (486) Surrenders and withdrawals (934) (696) (6) (20) (1,656) Benefit payments (255) (144) (2) (5) (406) Investment performance (3,718) (2,992) (73) (87) (6,870) Net transfers from (to) general account 44 (134) — 8 (82) Other charges (1) 1 — 1 1 Balance, end of period $ 53,500 $ 41,486 $ 960 $ 4,904 $ 100,850 Cash surrender value* $ 52,334 $ 41,263 $ 949 $ 4,898 $ 99,444 * The cash surrender value represents the amount of the contract holder’s account balance distributable at the balance sheet date less applicable surrender charges. Separate account liabilities primarily represent the contract holder's account balance in separate account assets and will be equal and offsetting to total separate account assets.

Contingencies, Commitments and

Contingencies, Commitments and Guarantees	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies, Commitments and Guarantees	14. 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. On February 7, 2022, Plaintiff filed motions for summary judgment and class certification; AGL opposed both motions and filed its own motion for partial summary judgment. On July 26, 2022, the District Court granted in part and denied in part AGL’s motion for partial summary judgment, and on September 7, 2022, the District Court denied Plaintiff's motion for summary judgment. In the summary judgment decisions, the District Court declined to adopt Plaintiff's theory that a failure to comply with the Act necessitates payment of policy benefits or to make a pre-trial determination as to AGL’s liability. On September 27, 2022, the District Court denied Plaintiff’s motion for class certification without prejudice. The District Court declined to certify Plaintiff's proposed class consisting of claims for monetary damages and equitable relief, but indicated that Plaintiff could seek the certification of a narrower class consisting only of claims for monetary damages. The District Court indicated, however, that it has "substantial concerns" as to whether individual issues such as actual damages and causation would predominate, precluding class certification. While the District Court had initially set a trial date for February 7, 2023, it since vacated that date and indicated that it will set a new trial date in due course, following consultation with the parties. Subsequently, the case was reassigned to a new judge and a status conference has been set for May 10, 2023. Proceedings are ongoing in other California cases that raise similar industry-wide issues, including in the McHugh case on remand from the California Supreme Court, in which the California Court of Appeal rendered an unpublished opinion on October 10, 2022 that also declined to hold that failure to comply with the Act automatically necessitates payment of policy benefits. 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 $4.8 billion and $6.6 billion at March 31, 2023 and December 31, 2022, respectively. 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 AIGFP and certain of its subsidiaries. We have also issued guarantees of all present and future payment obligations and liabilities of AIG Markets, Inc. Upon the deconsolidation of AIGFP and its subsidiaries, we recognized a $112 million guarantee related to the obligations of AIGFP and certain of its subsidiaries, which is reported in Other liabilities. 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 9. • For additional information on derivatives, see Note 10.

Equity

Equity	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Equity	15. 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. Common Stock The following table presents a rollforward of outstanding shares: Three Months Ended March 31, 2023 Common Treasury Common Stock (in millions) Shares, beginning of year 1,906.7 (1,172.6) 734.1 Shares issued — 4.6 4.6 Shares repurchased — (11.1) (11.1) Shares, end of period 1,906.7 (1,179.1) 727.6 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. 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 2022 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 the Securities Exchange Act of 1934, as amended (the 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. Pursuant to an Exchange Act Rule 10b5-1 repurchase plan from April 1, 2023 to April 28, 2023, we repurchased approximately 4 million shares of AIG Common Stock for an aggregate purchase price of approximately $200 million. DIVIDENDS DECLARED On May 4, 2023, our Board of Directors declared a cash dividend on AIG Common Stock of $0.36 per share, a 12.5 percent increase from prior quarterly dividends on AIG Common Stock, payable on June 30, 2023 to shareholders of record on June 16, 2023. On May 4, 2023, our Board of Directors declared a cash dividend on AIG’s Series A Preferred Stock of $365.625 per share, payable on June 15, 2023 to holders of record on May 31, 2023. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents a rollforward of Accumulated other comprehensive income (loss): (in millions) Unrealized Unrealized Change in Change in the Foreign Retirement Fair Value of Total Balance, December 31, 2022, net of tax $ (136) $ (20,675) $ (284) $ 2,459 $ (3,056) $ (924) $ — $ (22,616) Change in unrealized appreciation (depreciation) of investments 9 4,996 — — — — — 5,005 Change in other — 106 — — — — — 106 Change in fair value of market risk benefits, net — — 95 — — — — 95 Change in discount rates — — — (527) — — — (527) Change in future policy benefits — (100) — — — — — (100) Change in foreign currency translation adjustments — — — — (19) — — (19) Change in net actuarial loss — — — — — 27 — 27 Change in deferred tax asset (liability) (3) (750) (20) 107 (9) 1 — (674) Total other comprehensive income (loss) 6 4,252 75 (420) (28) 28 — 3,913 Noncontrolling interests 4 706 17 (111) 10 — — 626 Balance, March 31, 2023, net of tax $ (134) $ (17,129) $ (226) $ 2,150 $ (3,094) $ (896) $ — $ (19,329) Balance, December 31, 2021, net of tax $ (48) $ 12,125 $ (1,496) $ (2,167) $ (2,446) $ (903) $ 6 $ 5,071 Change in unrealized appreciation (depreciation) of investments (57) (20,110) — — — — — (20,167) Change in other — 15 — — — — — 15 Change in fair value of market risk benefits, net — — 991 — — — — 991 Change in discount rates — — — 2,883 — — — 2,883 Change in future policy benefits — 795 — — — — — 795 Change in foreign currency translation adjustments — — — — (3) — — (3) Change in net actuarial loss — — — — — 11 — 11 Change in prior service cost — — — — — 1 — 1 Change in deferred tax asset (liability) 12 3,159 (209) (593) (3) (3) — 2,363 Total other comprehensive income (loss) (45) (16,141) 782 2,290 (6) 9 — (13,111) Noncontrolling interests (5) (1,326) 77 222 20 — — (1,012) Balance, March 31, 2022, net of tax $ (88) $ (2,690) $ (791) $ (99) $ (2,472) $ (894) $ 6 $ (7,028) The following table presents the other comprehensive income (loss) reclassification adjustments for the three-month periods ended March 31, 2023 and 2022 , respectively: (in millions) Unrealized Unrealized Change in fair value of market risk benefits related to our own credit risk Change in the Foreign Retirement Fair Value of Total Three Months Ended March 31, 2023 Unrealized change arising during period $ (7) $ 4,566 $ 95 $ (527) $ (19) $ 18 $ — $ 4,126 Less: Reclassification adjustments included in net income (16) (436) — — — (9) — (461) Total other comprehensive income (loss), before of income tax expense (benefit) 9 5,002 95 (527) (19) 27 — 4,587 Less: Income tax expense (benefit) 3 750 20 (107) 9 (1) — 674 Total other comprehensive income (loss), net of income tax expense (benefit) $ 6 $ 4,252 $ 75 $ (420) $ (28) $ 28 $ — $ 3,913 Three Months Ended March 31, 2022 Unrealized change arising during period $ (57) $ (19,439) $ 991 $ 2,883 $ (3) $ 4 $ — $ (15,621) Less: Reclassification adjustments included in net income — (139) — — — (8) — (147) Total other comprehensive income (loss), before income tax expense (benefit) (57) (19,300) 991 2,883 (3) 12 — (15,474) Less: Income tax expense (benefit) (12) (3,159) 209 593 3 3 — (2,363) Total other comprehensive income (loss), net of income tax expense (benefit) $ (45) $ (16,141) $ 782 $ 2,290 $ (6) $ 9 $ — $ (13,111) 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) (a) : Amount Reclassified from AOCI Affected Line Item in the Three Months Ended March 31, Condensed Consolidated (in millions) 2023 2022 Statements of Income (Loss) Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken Investments $ (16) $ — Net realized gains (losses) Total (16) — Unrealized appreciation (depreciation) of all other investments Investments (436) (139) Net realized gains (losses) Total (436) (139) Change in retirement plan liabilities adjustment Prior-service credit (1) (1) (b) Actuarial losses (8) (7) (b) Total (9) (8) Total reclassifications for the period $ (461) $ (147) (a) The following items are not reclassified out of AOCI and included in the Condensed Consolidated Statements of Income (Loss) and thus have been excluded from the table: (a) Change in fair value of market risk benefits attributable to changes in our own credit risk (b) Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts, and (c) Fair value of liabilities under fair value option attributable to changes in own credit risk.

Earnings Per Common Share (EPS)

Earnings Per Common Share (EPS)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Common Share (EPS)	16. 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 March 31, (dollars in millions, except per common share data) 2023 2022 Numerator for EPS: Income (loss) from continuing operations $ (87) $ 4,560 Less: Net income (loss) from continuing operations attributable to noncontrolling interests (117) 387 Less: Preferred stock dividends 7 7 Income (loss) attributable to AIG common shareholders from continuing operations 23 4,166 Income from discontinued operations, net of income tax expense — — Net income (loss) attributable to AIG common shareholders $ 23 $ 4,166 Denominator for EPS: Weighted average common shares outstanding - basic 738,661,428 816,314,273 Dilutive common shares 5,437,758 9,698,337 Weighted average common shares outstanding - diluted (a) 744,099,186 826,012,610 Income (loss) per common share attributable to AIG common shareholders: Basic: Income (loss) from continuing operations $ 0.03 $ 5.10 Income from discontinued operations $ — $ — Income (loss) attributable to AIG common shareholders $ 0.03 $ 5.10 Diluted: Income (loss) from continuing operations $ 0.03 $ 5.04 Income from discontinued operations $ — $ — Income (loss) attributable to AIG common shareholders $ 0.03 $ 5.04 (a) Potential dilutive common shares include our share-based employee compensation plans and an option for Blackstone to exchange all or a portion of its ownership interest in Corebridge for AIG common shares in the event an IPO did not occur prior to 2024. As a result of the consummation of the IPO on September 19, 2022, this exchange right of Blackstone was terminated. The number of potential common shares excluded from diluted shares outstanding was 4.5 million and 39.9 million for the three-month periods ended March 31, 2023 and 2022, 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 15.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	17. Income Taxes U.S. TAX LAW CHANGES The Inflation Reduction Act (IRA) of 2022 (H.R. 5376) includes a 15 percent corporate alternative minimum tax (CAMT) on adjusted financial statement income for corporations with average profits over $1 billion over a three-year period. Although the U.S. Treasury and IRS issued interim CAMT guidance in early 2023, many details and specifics of application of the CAMT remain subject to future guidance. We are subject to CAMT for 2023. Our estimated CAMT liability will continue to be refined based on future guidance. BASIS OF PRESENTATION 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. Following the IPO of Corebridge on September 19, 2022, AIG’s remaining ownership in Corebridge decreased below 80 percent, resulting in tax deconsolidation of Corebridge parent and its subsidiaries from the AIG consolidated U.S. federal income tax group as well as certain state and local jurisdictions where unitary returns are filed. Subsequent to the tax deconsolidation from AIG, due to the application of relevant U.S. tax laws, American General Corporation and its directly owned life insurance subsidiaries (the AGC Group) will not be permitted to join in the filing of a consolidated U.S. federal income tax return with Corebridge parent and its non-life-insurance subsidiaries for a period of five years. Corebridge’s net operating losses and tax credit carryforwards that have not been utilized prior to tax deconsolidation from AIG will remain with the relevant Corebridge entities and will be available for utilization by the respective Corebridge U.S. federal income tax groups. The realizability of the deferred tax assets related to such carryforwards is based on the positive and negative evidence applicable to each U.S. federal income tax group. TAX ACCOUNTING POLICIES 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. 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. A deferred tax liability has not been recorded for those foreign subsidiaries whose earnings are considered to be indefinitely reinvested. If recorded, such deferred tax liability would not be material to our consolidated financial condition. Deferred taxes, if necessary, have been provided on earnings of non-U.S. affiliates whose earnings are not indefinitely reinvested. Global Intangible Low-Taxed Income (GILTI) imposes U.S. taxes on the excess of a deemed return on tangible assets of certain foreign subsidiaries. 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. 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. INTERIM TAX EXPENSE (BENEFIT) For the three-month period ended March 31, 2023, the effective tax rate on loss from continuing operations was 62.3 percent. The effective tax rate on loss from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax benefits associated with tax exempt income, excess tax benefits related to share based compensation payments recorded through the income statement, tax adjustments related to prior year returns 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, U.S. federal valuation allowance changes and state and local income taxes. 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 March 31, 2022, the effective tax rate on income from continuing operations was 20.2 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, tax adjustments related to prior year returns and adjustments to interest related to items challenged by the IRS during the audit of AIG’s 2006 and prior tax years. 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. 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. 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. Although tax deconsolidation of Corebridge from the AIG consolidated U.S. federal income tax group resulted in the formation of new federal tax filing groups requiring separate deferred tax asset realizability assessments, there was no material change to the total deferred tax asset valuation allowance recorded as of March 31, 2023. After factoring in multiple data points and assessing relative weight of all positive and negative evidence, we concluded that a valuation allowance of $880 million is necessary. Accordingly, as of March 31, 2023, the balance sheet reflects a valuation allowance of $880 million, of which $713 million relates to AIG's U.S. federal consolidated income tax group and $167 million relates to Corebridge. The valuation allowance recorded with respect to AIG's U.S. federal consolidated income tax group relates to a portion of tax attribute carryforwards that are no longer more-likely-than-not to be realized. No change in AIG's U.S. federal consolidated income tax group valuation allowance was recorded for the three-month period ended March 31, 2023. The valuation allowance at Corebridge relates to a portion of both tax attribute carryforwards and certain other deferred tax assets of the Corebridge non-life insurance group that are not more-likely-than-not to be realized. For the three-month period ended March 31, 2023, Corebridge recorded a $16 million increase in valuation allowance, attributable to current year activity. For the three-month period ended March 31, 2023, recent changes in market conditions, including changes in 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 a reduction to 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 March 31, 2023, based on all available evidence, we concluded that valuation allowance should be released 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 three-month period ended March 31, 2023, we released $131 million of valuation allowance associated with the unrealized tax capital losses in the U.S. Life Insurance Companies’ available for sale securities portfolio and $234 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 months ended March 31, 2023, the balance sheet reflects $1.3 billion of valuation allowance associated with the unrealized tax capital losses in the U.S. Life Insurance Companies’ available for sale securities portfolio and $0.7 billion 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 March 31, 2023, we recognized a net $3 million increase in deferred tax asset valuation allowance associated with certain foreign and state jurisdictions, primarily attributable to current year activity. TAX EXAMINATIONS AND LITIGATION 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. ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES At March 31, 2023 and December 31, 2022, our unrecognized tax benefits, excluding interest and penalties, were $1.3 billion and $1.2 billion, respectively. At both March 31, 2023 and December 31, 2022, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $1.2 billion. Unrecognized tax benefits that would not affect the effective tax rate generally relate to such factors as the timing, rather than the permissibility of the deduction. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense. At March 31, 2023 and December 31, 2022, we had accrued liabilities of $56 million and $63 million, respectively for the payment of interest (net of the federal benefit) and penalties. For the three-month period ended March 31, 2023, we accrued benefit of $7 million for the payment of interest and penalties. The interest activity related to unrecognized tax benefits for the three-month period ended March 31, 2023 was due to the completion of audit activity related to foreign operations. There was no interest activity related to unrecognized tax benefits for the three-month period ended March 31, 2022. Although it is reasonably possible that a change in the balance of unrecognized tax benefits may occur within the next 12 months, based on the information currently available, we do not expect any change to be material to our consolidated financial condition.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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; • valuation of future policy benefit liabilities and recognition of measurement gains and losses; • valuation of market risk benefits (MRBs) related to guaranteed benefit features of variable annuity, fixed annuity and fixed index annuity products; • valuation of embedded derivative liabilities for fixed index annuity and index universal life 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; • 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.
Premiums	Insurance revenues include premiums and policy fees. All premiums and policy fees are presented net of reinsurance, as applicable. Premiums from long-duration life products, other than universal and variable life contracts, are recognized as revenues when due. Premiums from individual and group annuity contracts that are life contingent are recognized as revenues when due. For limited payment contracts, premiums are due over a significantly shorter period than the period over which benefits are provided. Prior to the adoption of LDTI on January 1, 2021, the difference between the gross premium received and the net premium was deferred and recognized in premiums in a constant relationship to insurance in-force, or for annuities, the amount of expected future policy benefits. This Deferred Profit Liability (DPL) was recorded in the Condensed Consolidated Balance Sheets in Other policyholder funds. After January 1, 2021, the difference between the gross premium received and recorded as revenue and the net premium is deferred and recognized in Policyholder benefits in a constant relationship to insurance in-force, or for annuities, the amount of expected future policy benefits. This DPL is recorded in the Condensed Consolidated Balance Sheets in Future policy benefits for life and accident and health insurance contracts. Prior to the adoption of LDTI on January 1, 2021, reinsurance premiums ceded under yearly renewable term (YRT) reinsurance agreements were recognized as a reduction in revenues over the period the reinsurance coverage was utilized in proportion to the risks to which the premiums relate, while premiums ceded under modified coinsurance (modco) treaties were recognized when due. After January 1, 2021 all reinsurance premiums ceded are recognized when due, following a ceded net premium ratio methodology that also accrues a proportionate amount of estimated benefits. Reinsurance premiums for assumed business are estimated based on information received from ceding companies and reinsurers. Any subsequent differences that arise regarding such estimates are recorded in the periods in which they are determined. Amounts received as payment for investment-oriented contracts such as universal life, variable annuities, fixed annuities, and fixed index annuities, are reported as deposits to Policyholder contract deposits or Separate account liabilities, as applicable. Revenues from these contracts are recorded in policy fees and consist of policy charges for the cost of insurance, policy administration charges, surrender charges and amortization of unearned revenue reserves. Policy fees are recognized as revenues in the period in which they are assessed against policyholders, unless the fees are designed to compensate AIG for services to be provided in the future. Prior to the adoption of LDTI on January 1, 2021, fees deferred as unearned revenue were amortized in relation to the incidence of estimated gross profits (EGPs) to be realized over the estimated lives of the contracts. After January 1, 2021 fees deferred as unearned revenue
Investments	NET REALIZED GAINS AND LOSSES Net realized gains and losses are determined by specific identification. The net realized gains and losses are generated primarily from the following sources: • Sales of available for sale fixed maturity securities, real estate and other alternative investments. • Reductions to the amortized cost basis of available for sale fixed maturity securities that have been written down due to our intent to sell them or it being more likely than not that we will be required to sell them. • Changes in the allowance for credit losses on bonds available for sale, mortgage and other loans receivable, and loans commitments. • Changes in fair value of free standing and embedded derivatives, including changes in the non-performance adjustment, except for those instruments that hedge the change in the fair value of certain MRBs or are designated as hedging instruments when the change in the fair value of the hedged item is not reported in Net realized gains (losses). • Foreign exchange gains and losses resulting from foreign currency transactions. • Changes in fair value of the embedded derivative related to the Fortitude Re funds withheld assets. 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. 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. LOAN MODIFICATIONS The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon asset origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. We use a probability of default/loss given default model to determine the allowance for credit losses for our commercial and residential mortgage loans. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses utilizing the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. When modifications are executed, they often will be in the form of principal forgiveness, term extensions, interest rate reductions, or some combination of any of these concessions. When principal is forgiven, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses. 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.
Other Assets	DEFERRED SALES INDUCEMENTS We offer deferred sales inducements (DSI) which include enhanced crediting rates or bonus payments to contract holders (bonus interest) on certain annuity and investment contract products. To qualify for such accounting treatment as an asset, the bonus interest must be explicitly identified in the contract at inception. We must also demonstrate that such amounts are incremental to amounts we credit on similar contracts without bonus interest and are higher than the contracts’ expected ongoing crediting rates for periods after the bonus period. DSI is reported in Other assets, while amortization related to DSI is recorded in Interest credited to policyholder account balances. Prior to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard DSI amounts were deferred and amortized over the life of the contract in relation to the incidence of EGPs to be realized over the estimated lives of the contracts. DSI was adjusted for the effect on EGPs of unrealized gains and losses on available-for-sale securities, with related changes recognized through Other comprehensive income. Subsequent to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard DSI amounts are deferred and amortized on a constant level basis over the life of the contract consistent with DAC, changes in future assumptions (e.g., expected duration of contracts) are applied by adjusting the amortization rate prospectively rather than through a retrospective catch up adjustment. The Company has elected to implicitly account for actual experience, whether favorable or unfavorable, in its amortization expense each period, consistent with DAC. The following table presents the transition rollforward for DSI*: (in millions) Individual Group Total Pre-adoption December 31, 2020 DSI balance $ 190 $ 91 $ 281 Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) 284 114 398 Post adoption January 1, 2021 DSI balance $ 474 $ 205 $ 679 * Others assets, excluding DSI, totaled $12.8 billion.
Accounting Standards Adopted and Future Application of Accounting Standards	ACCOUNTING STANDARDS ADOPTED DURING 2023 Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the Financial Accounting Standards Board (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 adopted the standard on January 1, 2023 using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs. The Company also adopted the standard in relation to MRBs on a full retrospective basis. As of the January 1, 2021 transition date (Transition Date), the impact of the adoption of the standard was a net decrease to beginning Accumulated other comprehensive income (loss) (AOCI) of $2.2 billion and a net increase to beginning Retained earnings of $933 million primarily driven by (1) changes related to MRBs in our Individual Retirement and Group Retirement operating segments, including the impact of non-performance risk adjustments which reclassified the portion of the changes in fair value attributable to non-performance risk from Retained earnings to AOCI, (2) changes to the discount rate which most significantly impacted our Life Insurance and Institutional Markets operating segments, and (3) the removal of balances recorded in AOCI related to changes in unrealized appreciation (depreciation) on investments. The accounting for the Fortitude Reinsurance Company Ltd. (Fortitude Re) reinsurance contracts, including the discount rates, continued to be calculated using the same methodology and assumptions as the direct policies, and therefore have been recalculated on an LDTI basis. The accounting for reinsurance transactions between AIG and Fortitude Re structured as modified coinsurance (modco) remained unchanged. Market risk benefits: The standard requires the measurement of all MRBs (e.g., living benefit and death benefit guarantees associated with variable annuities) associated with deposit (or account balance) contracts at fair value at each reporting period. Changes in fair value compared to prior periods are recorded and presented separately within the income statement, with the exception of our own credit risk, which are recognized in Other comprehensive income. MRBs impacted both Retained earnings and AOCI upon transition. The accounting for MRBs primarily impacted our Individual Retirement and Group Retirement operating segments. For additional disclosures about MRBs, see Note 12. 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 had an adjustment to AOCI due to the fact that the market upper-medium grade (low credit risk) interest rates as of the Transition Date differed from reserve interest accretion rates. Following adoption, the impact of changes to discount rates are recognized through Other comprehensive income. Changes resulting from updating the discount rate each reporting period primarily impact term life insurance and other traditional life insurance products, as well as pension risk transfer (PRT) and structured settlement products. For additional information on the discount rate assumption under accounting for Long-Duration Contracts Standard, see Note 11. 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 were 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 Condensed Consolidated Statements of Income (Loss). For additional information, see Note 11. • Simplifies the amortization of DAC to a constant level basis over the expected term of the related contracts with adjustments for unexpected terminations, and no longer requires an impairment test. For additional information, see Note 8. • Increases disclosures of disaggregated rollforwards of several balances, including but not limited to liabilities for future policy benefits, deferred acquisition costs, account balances, MRBs, separate account liabilities and information about significant inputs, judgments and methods used in measurement and changes thereto and impact of those changes. The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 as well as cross references to the applicable notes herein for additional information: Pre-Adoption, Cumulative Effect Updated Balances (in millions) Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes (a) 34,578 7,666 42,244 Reinsurance assets - other, net of allowance for credit losses and disputes (a) 38,963 469 39,432 Deferred income taxes 12,624 339 12,963 Deferred policy acquisition costs (b) 9,805 3,150 12,955 Market risk benefit assets (c) — 338 338 Other assets, net of allowance for credit losses (d) 13,122 398 13,520 Total assets 586,481 12,360 598,841 Future policy benefits for life and accident and health insurance contracts (e) 56,878 10,486 67,364 Policyholder contract deposits (e) 154,470 (6,247) 148,223 Market risk benefit liabilities (c) — 8,739 8,739 Other policyholder funds (f) 3,548 248 3,796 Other liabilities (g) 27,122 398 27,520 Total liabilities 519,282 13,624 532,906 Retained earnings 15,504 933 16,437 Accumulated other comprehensive income (loss) 13,511 (2,197) 11,314 Total AIG Shareholders' equity 66,362 (1,264) 65,098 Total equity 67,199 (1,264) 65,935 Total liabilities and equity 586,481 12,360 598,841 (a) For additional information on the transition impacts associated with LDTI, see Note 7. (b) For additional information on the transition impacts associated with LDTI, see Note 8. (c) For additional information on the transition impacts associated with LDTI, see Note 12. (d) Other assets include deferred sales inducement assets. For additional information on the transition impacts associated with LDTI, see Note 8. (e) For additional information on the transition impacts associated with LDTI, see Note 11. (f) Other policyholder funds include Unearned Revenue Reserve (URR). For additional information on the transition impacts associated with LDTI, see Note 11. (g) Other liabilities include deferred cost of reinsurance liabilities. For additional information on the transition impacts associated with LDTI, see Note 7. The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Balance Sheets as of December 31, 2022: As Previously Effect of Updated Balances (in millions) Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes 32,159 (1,408) 30,751 Reinsurance assets - other, net of allowance for credit losses and disputes 39,434 (463) 38,971 Deferred income taxes 15,144 (340) 14,804 Deferred policy acquisition costs 15,518 (2,661) 12,857 Market risk benefit assets — 796 796 Other assets, net of allowance for credit losses 12,714 (330) 12,384 Total assets 526,634 (4,406) 522,228 Future policy benefits for life and accident and health insurance contracts 59,223 (7,309) 51,914 Policyholder contract deposits 158,891 (2,907) 155,984 Market risk benefit liabilities — 4,736 4,736 Other policyholder funds 3,909 (446) 3,463 Other liabilities 26,456 301 26,757 Total liabilities 484,399 (5,625) 478,774 Additional paid-in capital 80,284 (369) 79,915 Retained earnings 33,032 1,861 34,893 Accumulated other comprehensive income (loss) (22,092) (524) (22,616) Total AIG Shareholders' equity 40,002 968 40,970 Non-redeemable noncontrolling interests 2,233 251 2,484 Total equity 42,235 1,219 43,454 Total liabilities and equity 526,634 (4,406) 522,228 The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Income (Loss): Three Months Ended March 31, 2022 As Previously Effect of Updated Balances (in millions, except per common share data) Revenues: Premiums $ 7,110 $ 10 $ 7,120 Policy fees 764 (34) 730 Total net realized gains (losses) 4,419 (840) 3,579 Total revenues 15,808 (864) 14,944 Benefits, losses and expenses: Policyholder benefits and losses incurred 5,255 (195) 5,060 Change in the fair value of market risk benefits, net — (233) (233) Interest credited to policyholder account balances 877 2 879 Amortization of deferred acquisition costs 1,437 (300) 1,137 General operating and other expenses 2,181 (17) 2,164 Total benefits, losses and expenses 9,973 (743) 9,230 Income (loss) from continuing operations before income tax expense (benefit) 5,835 (121) 5,714 Income tax expense (benefit) 1,179 (25) 1,154 Income (loss) from continuing operations 4,656 (96) 4,560 Net income (loss) 4,656 (96) 4,560 Net income (loss) from continuing operations attributable to noncontrolling interests 396 (9) 387 Net income (loss) attributable to AIG 4,260 (87) 4,173 Net income (loss) attributable to AIG common shareholders 4,253 (87) 4,166 Income (loss) per common share attributable to AIG common shareholders: Common stock - Basic 5.21 (0.11) 5.10 Common stock - Diluted 5.15 (0.11) 5.04 The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Comprehensive Income (Loss): Three Months Ended March 31, 2022 As Previously Effect of Updated Balances (in millions) Net income $ 4,656 $ (96) $ 4,560 Other comprehensive income (loss), net of tax Change in unrealized appreciation (depreciation) of all other investments (13,607) (2,534) (16,141) Change in fair value of market risk benefits related to our own credit risk — 782 782 Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts — 2,290 2,290 Other comprehensive income (loss) (13,648) 537 (13,111) Comprehensive income (loss) (8,992) 441 (8,551) Comprehensive income (loss) attributable to noncontrolling interests (665) 40 (625) Comprehensive income (loss) attributable to AIG (8,327) 401 (7,926) The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Cash Flows: Three Months Ended March 31, 2022 As Effect Updated Balances (in millions) Cash flows from operating activities: Net income $ 4,656 $ (96) $ 4,560 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Noncash revenues, expenses, gains and losses included in income (loss): Unrealized gains in earnings - net (2,006) 1,133 (873) Change in the fair value of market risk benefits in earnings, net — (496) (496) Depreciation and other amortization 1,447 (313) 1,134 Changes in operating assets and liabilities: Insurance reserves 1,734 (478) 1,256 Premiums and other receivables and payables - net (4,164) (2) (4,166) Reinsurance assets, net (1,223) 416 (807) Capitalization of deferred policy acquisition costs (1,386) (16) (1,402) Current and deferred income taxes - net 1,123 (25) 1,098 Other, net (158) (141) (299) Total adjustments (4,599) 78 (4,521) Net cash provided by operating activities 57 (18) 39 Cash flows from financing activities: Policyholder contract deposits 6,392 18 6,410 Net cash used in financing activities (595) 18 (577) 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. The Company adopted the standard prospectively as of January 1, 2023 and the standard did not have a material impact on our reported consolidated financial condition, results of operations, or cash flows. For the updated required disclosures, see Note 6. FUTURE APPLICATION OF ACCOUNTING STANDARDS 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.
Reinsurance	In the ordinary course of business, our insurance companies purchase both treaty and facultative reinsurance to limit potential losses, provide additional capacity for growth, minimize exposure to significant risks or to facilitate greater diversification of our businesses. In addition, certain of our General Insurance subsidiaries sell reinsurance to other insurance companies. We determine the portion of our ultimate net loss that will be recoverable under our reinsurance contracts by reference to the terms of the reinsurance protection purchased. This determination involves an estimate of incurred but not reported (IBNR) loss. Reinsurance recoverables for contracts which are accounted for as deposits are subject to similar judgments and uncertainties and reported in Other assets. Reinsurance assets include the balances due for paid losses and expenses, reserves for losses and expenses reported and outstanding, reserves for IBNR, ceded unearned premiums and ceded future policy benefits for life and accident and health insurance contracts and benefits paid and unpaid. Amounts related to paid and reserved losses and expenses and benefits with respect to these reinsurance agreements are sometimes collateralized. We remain liable to our policyholders regardless of whether our reinsurers meet their obligations under the reinsurance contracts, and as such, we regularly evaluate the financial condition of our reinsurers and monitor concentration of our credit risk. The estimation of the allowance for unrecoverable reinsurance from reinsurers who are unwilling and/or unable to pay amounts due us requires judgment for which key inputs typically include historical collection rates when amounts due are in dispute or where the reinsurer has suffered a credit event as well as specific reviews of balances in dispute or subject to credit impairment. Changes in the allowance for credit losses and disputes on reinsurance assets are reflected in Policyholder benefits and losses incurred within the Condensed Consolidated Statements of Income (Loss). PRIOR TO THE ADOPTION OF THE TARGETED IMPROVEMENTS TO THE ACCOUNTING FOR LONG-DURATION CONTRACTS STANDARD Assumptions used in estimating reinsurance recoverables related to coinsurance or modco contracts were consistent with those used in estimating the related liabilities and reflected locked-in assumptions, absent a loss recognition event. Amounts recoverable on YRT treaties were recognized when claims were incurred on the reinsured policies. SUBSEQUENT TO THE ADOPTION OF THE TARGETED IMPROVEMENTS TO THE ACCOUNTING FOR LONG-DURATION CONTRACTS STANDARD Reinsurance recoverables are recognized in a manner consistent with the liabilities relating to the underlying reinsured contracts. The reinsurance recoverables for coinsurance and modco contracts, along with amounts recoverable on YRT treaties are determined based on updated net premium ratios, reflecting updated actuarial assumptions using locked-in upper-medium investment instrument yield discount rates with changes recognized as remeasurement gains and losses reported in income. In addition, reinsurance recoverables are remeasured at the balance sheet date using current upper-medium grade discount rates with changes reported in OCI. For reinsurance agreements that reinsure existing, or non-contemporaneous (in-force) traditional and limited payment long-duration insurance contracts, the reinsurance recoverable is measured using the upper-medium grade fixed-income instrument yield discount rate assumption related to the effective date of the reinsurance contract. Therefore, for non-contemporaneous reinsurance agreements executed after January 1, 2021, the locked-in rate to accrete interest into the income statement related to the reinsurance recoverable would be different from the locked-in rate used for accreting interest on the direct reserve for future policy benefits. Certain reinsured guaranteed benefits previously reported as reinsurance recoverables are classified as Market risk benefit assets in the Condensed Consolidated Balance Sheets and are measured at fair value. The following tables present the transition rollforward for Reinsurance assets: (in millions) Individual Life Institutional Total Reinsurance assets - other, net of allowance for credit losses and disputes (a) Pre-adoption, December 31, 2020 $ 309 $ 2,370 $ 28 $ 2,707 Reclassification of Cost of Reinsurance (b) — 416 — 416 Reclassification to Market risk benefits (35) — — (35) Change in cash flow assumptions and effect of net premiums exceeding gross premiums — 9 — 9 Change due to the current upper-medium grade discount rate — 74 5 79 Post adoption January 1, 2021 $ 274 $ 2,869 $ 33 $ 3,176 (a) Excludes $36.3 billion of Reinsurance assets - other, net of allowance for credit losses and disputes in General Insurance and Other Operations. (b) Cost of reinsurance is reported in Other liabilities in the Condensed consolidated Balance sheets. (in millions) Total Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes* Pre-adoption, December 31, 2020 $ 29,135 Change in cash flow assumptions and effect of net premiums exceeding gross premiums 55 Change due to the current upper-medium grade discount rate 7,611 Post adoption January 1, 2021 $ 36,801 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Excludes $5.4 billion of Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes in General Insurance and Other Operations. The remeasurement of the reinsurance assets using the current upper-medium grade discount rate is offset in AOCI. 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)). 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. As of March 31, 2023, approximately $28.0 billion of reserves from our Life and Retirement Run-Off Lines and approximately $3.2 billion of reserves from our General Insurance Run-Off Lines related to business written by multiple wholly-owned AIG subsidiaries, had been ceded to Fortitude Re under these reinsurance transactions. 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: March 31, 2023 December 31, 2022 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 18,640 $ 18,640 $ 18,821 $ 18,821 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 4,406 4,406 4,182 4,182 Fair value through net investment income Commercial mortgage loans 4,152 3,927 4,107 3,837 Amortized cost Real estate investments 130 315 133 348 Amortized cost Private equity funds / hedge funds 1,901 1,901 1,893 1,893 Fair value through net investment income Policy loans 345 345 355 355 Amortized cost Short-term investments 184 184 75 75 Fair value through net investment income Funds withheld investment assets 29,758 29,718 29,566 29,511 Derivative assets, net (b) 80 80 90 90 Fair value through net realized gains (losses) Other (c) 570 570 782 782 Amortized cost Total $ 30,408 $ 30,368 $ 30,438 $ 30,383 (a) The change in the net unrealized gains (losses) on available for sale securities related to the Fortitude Re funds withheld assets was $704 million ($556 million after-tax) and $(3.3) billion ($(2.6) billion after-tax), respectively for three months ended March 31, 2023 and 2022. (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 $278 million and $24 million, respectively, as of March 31, 2023. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $192 million and $28 million, respectively, as of December 31, 2022. These derivative assets and liabilities are fully collateralized either by cash or securities. (c) Primarily comprised of Cash and Accrued investment income. 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. 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 on uncollectible reinsurance 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 classified 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 recoverable's 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	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. 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 on uncollectible reinsurance 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 classified 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 recoverable's 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. 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. 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. 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.
Deferred Policy Acquisition Costs	DAC represent those costs that are incremental and directly related to the successful acquisition of new or renewal of existing insurance contracts. We defer incremental costs that result directly from, and are essential to, the acquisition or renewal of an insurance contract. Such DAC generally include agent or broker commissions and bonuses, premium taxes, and medical and inspection fees that would not have been incurred if the insurance contract had not been acquired or renewed. Each cost is analyzed to assess whether it is fully deferrable. We partially defer costs, including certain commissions, when we do not believe that the entire cost is directly related to the acquisition or renewal of insurance contracts. Commissions that are not deferred to DAC are recorded in General operating and other expenses in the Condensed Consolidated Statements of Income (Loss). We also defer a portion of employee total compensation and payroll-related fringe benefits directly related to time spent performing specific acquisition or renewal activities, including costs associated with the time spent on underwriting, policy issuance and processing, and sales force contract selling. The amounts deferred are derived based on successful efforts for each distribution channel and/or cost center from which the cost originates. Short-duration insurance contracts: Policy acquisition costs are deferred and amortized over the period in which the related premiums written are earned, generally 12 months. DAC is grouped consistent with the manner in which the insurance contracts are acquired, serviced and measured for profitability and is reviewed for recoverability based on the profitability of the underlying insurance contracts. Investment income is anticipated in assessing the recoverability of DAC. We assess the recoverability of DAC on an annual basis or more frequently if circumstances indicate an impairment may have occurred. This assessment is performed by comparing recorded net unearned premiums and anticipated investment income on in-force business to the sum of expected losses and loss adjustment expenses incurred, unamortized DAC and maintenance costs. If the sum of these costs exceeds the amount of recorded net unearned premiums and anticipated investment income, the excess is recognized as an offset against the asset established for DAC. This offset is referred to as a premium deficiency charge. Increases in expected losses and loss adjustment expenses incurred can have a significant impact on the likelihood and amount of a premium deficiency charge. PRIOR TO THE ADOPTION OF THE TARGETED IMPROVEMENTS TO THE ACCOUNTING FOR LONG-DURATION CONTRACTS STANDARD Long-duration insurance contracts: Policy acquisition costs for participating life, traditional life and accident and health insurance products were generally deferred and amortized, with interest, over the premium paying period. The assumptions used to calculate the benefit liabilities and DAC for these traditional products were set when a policy was issued and did not change with changes in actual experience, unless a loss recognition event occurred. These “locked-in” assumptions included mortality, morbidity, persistency, maintenance expenses and investment returns, and included margins for adverse deviation to reflect uncertainty given that actual experience might deviate from these assumptions. A loss recognition event occurred when there was a shortfall between the carrying amount of future policy benefit liabilities, net of DAC, and what the future policy benefit liabilities, net of DAC, would be when applying updated current assumptions. When we determined a loss recognition event had occurred, we first reduced any DAC related to that block of business through amortization of acquisition expense, and after DAC was depleted, we recorded additional liabilities through a charge to Policyholder benefits and losses incurred. Groupings for loss recognition testing were consistent with our manner of acquiring, servicing and measuring the profitability of the business and applied by product groupings. We performed separate loss recognition tests for traditional life products, payout annuities and long-term care products. Our policy was to perform loss recognition testing net of reinsurance. Once loss recognition had been recorded for a block of business, the old assumption set was replaced, and the assumption set used for the loss recognition would then be subject to the lock-in principle. Investment-oriented contracts: Certain policy acquisition costs and policy issuance costs related to investment-oriented contracts, for example universal life, variable and fixed annuities, and fixed index annuities, were deferred and amortized, with interest, in relation to the incidence of EGPs to be realized over the estimated lives of the contracts. EGPs were affected by a number of factors, including levels of current and expected interest rates, net investment income and spreads, net realized gains and losses, fees, surrender rates, mortality experience, policyholder behavior experience and equity market returns and volatility. In each reporting period, current period amortization expense was adjusted to reflect actual gross profits. If the assumptions used for estimating gross profit changed significantly, DAC was recalculated using the new assumptions, including actuarial assumptions such as mortality, lapse, benefit utilization, and premium persistency, and any resulting adjustment was included in income. If the new assumptions indicated that future EGPs were higher than previously estimated, DAC was increased resulting in a decrease in amortization expense and increase in income in the current period; if future EGPs were lower than previously estimated, DAC was decreased resulting in an increase in amortization expense and decrease in income in the current period. Updating such assumptions may result in acceleration of amortization in some products and deceleration of amortization in other products. DAC was grouped consistent with the manner in which the insurance contracts were acquired, serviced and measured for profitability and was reviewed for recoverability based on the current and projected future profitability of the underlying insurance contracts. To estimate future EGPs for variable life and annuity products, a long-term annual asset growth assumption was applied to determine the future growth in assets and related asset-based fees. In determining the asset growth rate, the effect of short-term fluctuations in the equity markets was partially mitigated through the use of a “reversion to the mean” methodology for variable annuities, whereby short-term asset growth above or below long-term annual rate assumptions impacted the growth assumption applied to the five-year period subsequent to the current balance sheet date. The reversion to the mean methodology allowed us to maintain our long-term growth assumptions, while also giving consideration to the effect of actual investment performance. When actual performance significantly deviated from the annual long-term growth assumption, as evidenced by growth assumptions in the five-year reversion to the mean period falling below a certain rate (floor) or rising above a certain rate (cap) for a sustained period, judgment was applied to revise or “unlock” the growth rate assumptions to be used for both the five-year reversion to the mean period as well as the long-term annual growth assumption applied to subsequent periods. Unrealized Appreciation (Depreciation) of Investments: DAC related to investment-oriented contracts was also adjusted to reflect the effect of unrealized gains or losses on fixed maturity securities available for sale on EGPs, with related changes recognized through Other comprehensive income. The adjustment was made at each balance sheet date, as if the securities had been sold at their stated aggregate fair value and the proceeds reinvested at current yields. Similarly, for long-duration traditional insurance contracts, if the assets supporting the liabilities were in a net unrealized gain position at the balance sheet date, loss recognition testing assumptions were updated to exclude such gains from future cash flows by reflecting the impact of reinvestment rates on future yields. If a future loss was anticipated under this basis, any additional shortfall indicated by loss recognition tests was recognized as a reduction in OCI. Similar to other loss recognition on long-duration insurance contracts, such shortfall is first reflected as a reduction in DAC and secondly as an increase in liabilities for Future policy benefits. The change in these adjustments, net of tax, was included with the change in net unrealized appreciation of investments that is credited or charged directly to Other comprehensive income. SUBSEQUENT TO THE ADOPTION OF THE TARGETED IMPROVEMENTS TO THE ACCOUNTING FOR LONG-DURATION CONTRACTS STANDARD DAC for all long-duration contracts, except for those with limited to no exposure to policyholder behavior risk, (i.e., certain investment contracts), is grouped and amortized on a constant level basis (i.e., approximating straight line amortization with adjustments for expected terminations) over the expected term of the related contracts using assumptions consistent with those used in estimating the related liability for future policy benefits, or any other related balances, for those corresponding contracts, as applicable. Capitalized expenses are only included in DAC amortization as expenses are incurred. For amortization purposes, contracts are grouped into annual cohorts by issue year and product and to segregate reinsured and non-reinsured contracts. Changes in future assumptions (e.g., expected duration of contracts or amount of coverage expected to be in force) are applied by adjusting the amortization rate prospectively. The Company has elected to implicitly account for actual experience, whether favorable or unfavorable, in its amortization expense each period. DAC is capped at the amount of expenses capitalized as the DAC balance does not accrue interest. DAC is not subject to recoverability testing. VOBA is determined at the time of acquisition and is reported in the Condensed Consolidated Balance Sheets with DAC. This value is based on the present value of future pre-tax profits discounted at yields applicable at the time of purchase. VOBA is amortized, consistent with DAC, i.e., over the life of the business on a constant level basis. Internal Replacements of Long-duration and Investment-oriented Products: the accounting of internal replacements has generally not been impacted by the adoption of LDTI. The following table presents the transition rollforward for DAC*: Individual Group Life Institutional Total (in millions) Pre-adoption December 31, 2020 DAC balance $ 2,359 $ 560 $ 4,371 $ 26 $ 7,316 Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) 2,062 534 547 7 3,150 Post adoption January 1, 2021 DAC balance $ 4,421 $ 1,094 $ 4,918 $ 33 $ 10,466 * Excludes $2.5 billion of DAC in General Insurance. Prior to the adoption of LDTI, DAC for investment-oriented products included the effect of unrealized gains or losses on fixed maturity securities classified as available for sale. At the transition date, these adjustments were removed with a corresponding offset in AOCI. As the available for sale portfolio was in an unrealized gain position as of the transition date, the adjustment for removal of related balances in AOCI originating from unrealized gains (losses) balances was reducing DAC.
Tax Accounting Policies	TAX ACCOUNTING POLICIES 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. 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. A deferred tax liability has not been recorded for those foreign subsidiaries whose earnings are considered to be indefinitely reinvested. If recorded, such deferred tax liability would not be material to our consolidated financial condition. Deferred taxes, if necessary, have been provided on earnings of non-U.S. affiliates whose earnings are not indefinitely reinvested. Global Intangible Low-Taxed Income (GILTI) imposes U.S. taxes on the excess of a deemed return on tangible assets of certain foreign subsidiaries. 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. 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. 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.
Market Risk Benefit	MRBs are defined as contracts or contract features that both provide protection to the contract holder from other-than-nominal capital market risk and expose AIG to other-than nominal capital market risk. The MRB is an amount that a policyholder receives in addition to the account balance upon the occurrence of a specific event or circumstance, such as death, annuitization, or periodic withdrawal that involves protection from other-than-nominal capital market risk. Certain contract features, such as GMWBs, GMDBs and GMIBs commonly found in variable, fixed index and fixed annuities, are MRBs. MRBs are assessed at contract inception using a non-option method involving attributed fees that results in an initial fair value of zero or an option method that results in a fair value greater than zero. MRBs are recorded at fair value, and AIG applies a non-option attributed fee valuation method for variable products, and an option-based valuation method (host offset) for both fixed index and fixed products. Under the non-option valuation method, the attributed fee is determined at contract inception; it cannot exceed the total contract fees and assessments collectible from the contract holder and cannot be less than zero. Investment margin is excluded from the attributed fee determination. Under the option-based valuation method, an offset to the host amount related to the MRB amount is established at inception. Changes in the fair value of MRBs are recorded in net income in Changes in the fair value of Market Risk Benefits, net and the portion of the fair value change attributable to our own credit risk, is recognized in Other comprehensive income. MRBs are derecognized when the underlying contract is surrendered, a GMDB is incurred, a GMIB is annuitized, or when the account value is exhausted on a policy with a GMWB. When a policyholder elects to annuitize a GMIB rider or the account value on a policy with a GMWB rider is reduced to zero, the policy is converted to a payout annuity automatically. When a conversion occurs, the policyholder is issued a new payout annuity contract. At this point, the MRB is derecognized and a LFPB is established for the payout annuity. Assumptions used to determine the MRB asset (including ceded MRBs) or liability generally include mortality rates that are based upon actual experience modified to allow for variations in policy form; lapse rates that are based upon actual experience modified to allow for variations in policy features; and investment returns, based on stochastically generated scenarios. We evaluate at least annually estimates used to determine the MRB asset or liability and adjust the balance, with a related charge or credit to Change in fair value of MRBs, net, if actual experience or other evidence suggests that earlier assumptions should be revised. In addition, MRBs are valued such that the current provision for nonperformance risk is reflected in the claims cash flows of the asset or liability valuation for direct MRBs. The nonperformance risk spread at contract issue is locked-in. The difference between the MRB valued using the at issue nonperformance risk spread and the current nonperformance risk spread is reported through Other comprehensive income, while changes in the counterparty credit risk related to ceded MRBs are reported in income. Changes in the fair value of MRBs, net represents changes in the fair value of market risk benefit liabilities and assets (with the exception of our own credit risk changes), and includes attributed rider fees and benefits, net of changes in the fair value of derivative instruments and fixed maturity securities that are used to economically hedge market risk from the VA GMWB riders. The following table presents the transition rollforward of MRBs: Individual Group Total (in millions) Pre-adoption December 31, 2020 carrying amount for features now classified as MRBs $ — $ — $ — Adjustment for the reclassification of the embedded derivative liability from policyholder contract deposits, net of the host adjustment(s) (a) 5,671 576 6,247 Adjustment for the reclassification of additional liabilities from Future policy benefits (b) 1,388 221 1,609 Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date (c) 2,140 187 2,327 Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) (d) (516) (89) (605) Adjustment for the remaining difference (exclusive of our own credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB (e) (1,084) (93) (1,177) Post adoption January 1, 2021 carrying amount for features now classified as MRBs $ 7,599 $ 802 $ 8,401 (a) Adjustments for the reclassification from Policyholder contract deposits represents certain contract guarantees (e.g., GMWBs) that were previously classified as embedded derivatives, but have been reclassified as MRBs as of January 1, 2021, and the related host impact. The impact on Retained earnings or AOCI resulting from the simultaneous remeasurement of the guarantee as a market risk benefit is reflected in the lines below. (b) Adjustments for the reclassification from Future policy benefits represents contract guarantees (e.g., GMDBs) that were previously classified as insurance liabilities within Future policy benefits, but have been reclassified as MRBs as of January 1, 2021. The impact on Retained earnings or Other comprehensive income resulting from the simultaneous remeasurement of the guarantee as a market risk benefit is reflected in the lines below. (c) Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date are recognized in AOCI. (d) Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) with an offset to AOCI relate to the additional liabilities reclassified from Future policy benefits in the line above. (e) Adjustment for the remaining difference represents the measurement of MRBs at fair value, excluding the impact of our own credit risk with an offset to Retained earnings.
Separate accounts	We report variable contracts within the separate accounts when investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder and the separate account meets additional accounting criteria to qualify for separate account treatment. The assets supporting the variable portion of variable annuity and variable universal life contracts that qualify for separate account treatment are carried at fair value and are reported as separate account assets, with an equivalent summary total reported as separate account liabilities. The assets of separate accounts are legally segregated and are not subject to claims that arise from any of our other businesses. Policy values for variable products and investment contracts are expressed in terms of investment units. Each unit is linked to an asset portfolio. The value of a unit increases or decreases based on the value of the linked asset portfolio. The current liability at any time is the sum of the current unit value of all investment units in the separate accounts, plus any liabilities for MRBs.
Variable Interest Entity	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.
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 economically mitigate financial risk associated with embedded derivatives and MRBs in certain insurance liabilities. 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.
Future policy benefits for life and accident and health insurance contracts and policyholder contract deposits	FUTURE POLICY BENEFITS Future policy benefits primarily include reserves for traditional life and annuity payout contracts, which represent an estimate of the present value of future benefits less the present value of future net premiums. Included in Future policy benefits are liabilities for annuities issued in structured settlement arrangements whereby a claimant receives life contingent payments over their lifetime. Also included are pension risk transfer arrangements whereby an upfront premium is received in exchange for guaranteed retirement benefits. All payments under these arrangements are fixed and determinable with respect to their amounts and dates. Prior to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard Future policy benefits for traditional and limited pay contracts were reserved using actuarial assumptions locked-in at contract issuance. These assumptions were only updated when a loss recognition event occurred. Also included in Future policy benefits were reserves for contracts in loss recognition, including the adjustment to reflect the effect of unrealized gains on fixed maturity securities available for sale with related changes recognized through Other comprehensive income (loss). Future policy benefits also included certain guaranteed benefits of annuity products that were not considered embedded derivatives. Subsequent to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard For traditional and limited pay long-duration products, benefit reserves are accrued and benefit expense is recognized using a net premiums ratios (NPR) methodology for each annual cohort of business. This NPR method incorporates periodic retrospective revisions to the NPR to reflect updated actuarial assumptions and variances in actual versus expected experience. The Future policy benefit liability is accrued by multiplying the gross premium recognized in each period by the net premium ratio. The net premium is equal to the portion of the gross premium required to provide for all benefits and certain expenses and may not exceed 100 percent. Benefits in excess of premiums are expensed immediately through Policyholder benefits. In addition, periodic revisions to the NPR below 100 percent may result in reclassification between the benefit reserves and deferred profit liability for limited pay contracts. Insurance contracts are aggregated into annual cohorts for the purposes of determining the liability for future policy benefits (LFPB), but are not aggregated across segments. These annual cohorts may be further segregated based on product characteristics, or to distinguish business reinsured from non-reinsured business or products issued in different functional currencies. The assumptions used to calculate the future policy benefits include discount rates, persistency and recognized morbidity and mortality tables modified to reflect the Company's experience. The current discount rate assumption for the liability for future policy benefits is derived from market observable yields on upper-medium-grade fixed income instruments. The Company uses an external index as the source of the yields on these instruments for the first 30 years. For years 30 to 50, the yield is derived using market observable credit spreads. Yields for years 50 to 100 are extrapolated using a flat forward approach, maintaining a constant forward spread through the period. The current discount rate assumption is updated quarterly and used to remeasure the liability at the reporting date, with the resulting change in the discount rate reflected in Other comprehensive income. The method for constructing and applying the locked-in discount rate assumptions on newly issued business is determined based on factors such as product characteristics and the expected timing of cash flows. This discount rate assumption is derived from market observable yields on upper-medium-grade fixed income instruments. Similar to the current discount rate assumption, the Company may employ conversion and interpolation methodologies when necessary. The applicable interest accretion is reflected in Policyholder benefits and losses incurred in the Condensed Consolidated Statements of Income (Loss). The following table presents the transition rollforward of the liability for future policy benefits for nonparticipating contracts (a) : Individual Group Life Institutional Other (b) Total (in millions) Pre-adoption December 31, 2020 liability for future policy benefits balance $ 1,309 $ 282 $ 11,129 $ 11,029 $ 22,206 $ 45,955 Adjustments for the reclassification to the deferred profit liability (65) (8) — (766) (859) (1,698) Change in cash flow assumptions and effect of net premiums exceeding gross premiums (14) 2 15 4 55 62 Effect of the remeasurement of the liability at a current single A rate 156 63 2,977 1,655 7,611 12,462 Adjustment for the removal of loss recognition balances related to unrealized gain or loss on securities (64) (60) 4 (292) — (412) Post adoption January 1, 2021 liability for future policy benefits balance $ 1,322 $ 279 $ 14,125 $ 11,630 $ 29,013 $ 56,369 (a) Excludes future policy benefits for participating contracts, DPL, additional liabilities, Accident and Health, Group Benefits and Other Operations representing $11.0 billion of liability for future policy benefits. See transition tables below for DPL and additional liabilities. (b) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Adjustments for the reclassification between the liability for future policy benefits and deferred profit liability represent changes in the net premium ratios that are less than 100 percent at transition for certain limited pay cohorts, resulting in a reclassification between the two liabilities, with no impact on Retained earnings. Adjustments for Changes in cash flow assumptions represents revised net premium ratios in excess of 100 percent for certain cohorts at transition, with an offset to Retained earnings. Prior to adoption, loss recognition for traditional products was adjusted for the effect of unrealized gains on fixed maturity securities available for sale. At the transition date, these adjustments were removed with a corresponding offset in AOCI. The effect of the remeasurement at the current single A rate is reported at the transition date and each subsequent balance sheet date, with an offset in AOCI. Deferred Profit Liability: The Company issues certain annuity and life insurance contracts where premiums are paid up-front or for a shorter period than benefits will be paid (i.e., limited pay contracts). A DPL is required to be established to avoid recognition of gains when these contracts are issued. DPLs are amortized over the life of the contracts to align the revenue recognized with the related benefit expenses. The DPL is amortized in a constant relationship to the amount of discounted insurance in force for life insurance or expected future benefit payments for annuity contracts over the term of the contract. Prior to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard Limited pay contracts were subject to a lock-in concept and assumptions derived at policy issue were not subsequently updated unless a loss recognition event occurred. The net premiums were recorded as revenue. The difference between the gross premium received and the net premium was deferred and recognized in premiums in a constant relationship to insurance in-force, or for annuities, the amount of expected future policy benefits. This unearned revenue (deferred profit) was recorded in the Condensed Consolidated Balance Sheets in Other policyholder funds. Subsequent to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard The difference between the gross premium received and recorded as revenue and the net premium is deferred and recognized in Policyholder benefits in a constant relationship to insurance in-force, or for annuities, the amount of expected future policy benefits. This deferred profit liability accretes interest and is recorded in the Condensed Consolidated Balance Sheets in Future policy benefits. Cash flow assumptions included in the measurement of the DPL are the same as those utilized in the respective LFPBs and are reviewed at least annually. The cash flow estimates for DPLs are updated on a retrospective catch-up basis at the same time as the cash flow estimates for the related LFPBs. The updated LFPB cash flows are used to recalculate the DPL at the inception of the applicable related LFPB cohort. The difference between the recalculated DPL at the beginning of the current reporting period and the carrying amount of the DPL at the current reporting period is recognized as a gain or loss in Policyholder benefits and losses incurred in the Condensed Consolidated Statements of Income (Loss). The following table presents the transition rollforward for deferred profit liability for long-duration contracts*: Individual Group Life Institutional Other* Total (in millions) Pre-adoption December 31, 2020 deferred profit liability balance $ 2 $ — $ 5 $ 64 $ — $ 71 Adjustments for the reclassification from/(to) the liability for the future policy benefits 65 8 — 766 859 1,698 Post adoption January 1, 2021 deferred profit liability balance $ 67 $ 8 $ 5 $ 830 $ 859 $ 1,769 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Adjustments for the reclassification between the liability for future policy benefits and deferred profit liability represent changes in the net premium ratios that are less than 100 percent at transition for certain limited pay cohorts, resulting in a reclassification between the two liabilities, with no impact on retained earnings. Additional Liabilities: For universal-life type products, insurance benefits in excess of the account balance are generally recognized as expenses in the period incurred unless the design of the product is such that future charges are insufficient to cover the benefits, in which case an “additional liability” is accrued over the life of the contract. These additional liabilities are included in Future policy benefits for life and accident and health insurance contracts in the Condensed Consolidated Balance Sheets. Prior to the adoption of the standard, our additional liabilities consisted primarily of GMDBs on annuities, as well as universal-life contracts with secondary guarantees. Subsequent to the adoption of this standard, the GMDBs have been reclassified and reported as MRBs, while the universal-life contracts with secondary guarantees continue to be reported as additional liabilities. The following table presents the transition rollforward of the additional liabilities: Individual Group Life Institutional Other (c) Total (in millions) Pre-adoption December 31, 2020 additional liabilities $ 1,423 $ 221 $ 5,117 $ — $ 55 $ 6,816 Adjustment for the reclassification of additional liabilities from Future policy benefits to Market risk benefits (a) (907) (132) — — — (1,039) Adjustment for removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) (b) (516) (89) — — — (605) Post-adoption January 1, 2021 additional liabilities $ — $ — $ 5,117 $ — $ 55 $ 5,172 (a) Adjustments for the reclassification of additional liabilities from Future policy benefits to MRBs represent contract guarantees (e.g., GMDBs) that were previously classified as insurance liabilities within Future policy benefits, but have been reclassified as MRBs as of January 1, 2021. For additional information on the transition impacts associated with LDTI, see Note 13. (b) Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) relate to the additional liabilities reclassified from Future policy benefits in the line above. (c) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. POLICYHOLDER CONTRACT DEPOSITS The liability for Policyholder contract deposits is primarily recorded at accumulated value (deposits received and net transfers from separate accounts, plus accrued interest credited, less withdrawals and assessed fees). Deposits collected on investment-oriented products are not reflected as revenues. They are recorded directly to Policyholder contract deposits upon receipt. Amounts assessed against the contract holders for mortality, administrative, and other services are included as Policy fees in revenues. In addition to liabilities for universal life, fixed annuities, fixed options within variable annuities, annuities without life contingencies, funding agreements and GICs, policyholder contract deposits also include our liability for (i) index features accounted for as embedded derivatives at fair value, (ii) annuities issued in a structured settlement arrangement with no life contingency and (iii) certain contracts we have elected to account for at fair value. Changes in the fair value of the embedded derivatives related to policy index features and the fair value of derivatives hedging these liabilities are recognized in realized gains and losses. For additional information on index credits accounted for as embedded derivatives, see Note 4. Under a funding agreement-backed notes issuance program, an unaffiliated, non-consolidated statutory trust issues medium-term notes to investors, which are secured by funding agreements issued to the trust by one of our Life and Retirement companies through our Institutional Markets business. The following table presents the transition rollforward of Policyholder contract deposits account balances (a ) : Individual Group Life Institutional Other (b) Total (in millions) Pre-adoption December 31, 2020 Policyholder contract deposits $ 84,874 $ 43,805 $ 10,286 $ 11,559 $ 4,145 $ 154,669 Adjustment for the reclassification of the embedded derivative liability to market risk benefits, net of the host adjustment(s) (5,671) (576) — — — (6,247) Post-adoption January 1, 2021 Policyholder contract deposits $ 79,203 $ 43,229 $ 10,286 $ 11,559 $ 4,145 $ 148,422 (a) Excludes Other Operations of $(199) million. (b) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. OTHER POLICYHOLDER FUNDS Other policyholder funds include URR, consisting of front-end loads on investment-oriented contracts, representing those policy loads that are non-level and typically higher in initial policy years than in later policy years. Amortization of URR is recorded in Policy fees. Prior to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard URR for investment-oriented contracts are generally deferred and amortized, with interest, in relation to the incidence of EGPs to be realized over the estimated lives of the contracts and are subject to the same adjustments due to changes in the assumptions underlying EGPs as DAC. Similar to unrealized appreciation (depreciation) of investments for DAC, URR related to investment-oriented products is also adjusted to reflect the effect of unrealized gains or losses on fixed maturity securities available for sale on EGPs, with related changes recognized through Other comprehensive income. Subsequent to the adoption of the Targeted Improvements to the Accounting for Long-Duration Contracts Standard URR for investment-oriented contracts are generally deferred and amortized into income using the same assumptions and factors used to amortize DAC (i.e., on a constant level basis). Changes in future assumptions are applied by adjusting the amortization rate prospectively. The Company has elected to implicitly account for actual experience, whether favorable or unfavorable, in its amortization of URR (i.e., policy fees) each period. The following table presents the transition rollforward of URR: Life Institutional Other* Total (in millions) Pre-adoption December 31, 2020 URR balance $ 1,413 $ 2 $ 132 $ 1,547 Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) 248 — — 248 Post adoption January 1, 2021 URR balance $ 1,661 $ 2 $ 132 $ 1,795 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Other policyholder funds, excluding URR, totaled $2.0 billion.
Earnings Per Share	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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Accounting Standards Update and Change in Accounting Principle	The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 as well as cross references to the applicable notes herein for additional information: Pre-Adoption, Cumulative Effect Updated Balances (in millions) Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes (a) 34,578 7,666 42,244 Reinsurance assets - other, net of allowance for credit losses and disputes (a) 38,963 469 39,432 Deferred income taxes 12,624 339 12,963 Deferred policy acquisition costs (b) 9,805 3,150 12,955 Market risk benefit assets (c) — 338 338 Other assets, net of allowance for credit losses (d) 13,122 398 13,520 Total assets 586,481 12,360 598,841 Future policy benefits for life and accident and health insurance contracts (e) 56,878 10,486 67,364 Policyholder contract deposits (e) 154,470 (6,247) 148,223 Market risk benefit liabilities (c) — 8,739 8,739 Other policyholder funds (f) 3,548 248 3,796 Other liabilities (g) 27,122 398 27,520 Total liabilities 519,282 13,624 532,906 Retained earnings 15,504 933 16,437 Accumulated other comprehensive income (loss) 13,511 (2,197) 11,314 Total AIG Shareholders' equity 66,362 (1,264) 65,098 Total equity 67,199 (1,264) 65,935 Total liabilities and equity 586,481 12,360 598,841 (a) For additional information on the transition impacts associated with LDTI, see Note 7. (b) For additional information on the transition impacts associated with LDTI, see Note 8. (c) For additional information on the transition impacts associated with LDTI, see Note 12. (d) Other assets include deferred sales inducement assets. For additional information on the transition impacts associated with LDTI, see Note 8. (e) For additional information on the transition impacts associated with LDTI, see Note 11. (f) Other policyholder funds include Unearned Revenue Reserve (URR). For additional information on the transition impacts associated with LDTI, see Note 11. (g) Other liabilities include deferred cost of reinsurance liabilities. For additional information on the transition impacts associated with LDTI, see Note 7. The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Balance Sheets as of December 31, 2022: As Previously Effect of Updated Balances (in millions) Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes 32,159 (1,408) 30,751 Reinsurance assets - other, net of allowance for credit losses and disputes 39,434 (463) 38,971 Deferred income taxes 15,144 (340) 14,804 Deferred policy acquisition costs 15,518 (2,661) 12,857 Market risk benefit assets — 796 796 Other assets, net of allowance for credit losses 12,714 (330) 12,384 Total assets 526,634 (4,406) 522,228 Future policy benefits for life and accident and health insurance contracts 59,223 (7,309) 51,914 Policyholder contract deposits 158,891 (2,907) 155,984 Market risk benefit liabilities — 4,736 4,736 Other policyholder funds 3,909 (446) 3,463 Other liabilities 26,456 301 26,757 Total liabilities 484,399 (5,625) 478,774 Additional paid-in capital 80,284 (369) 79,915 Retained earnings 33,032 1,861 34,893 Accumulated other comprehensive income (loss) (22,092) (524) (22,616) Total AIG Shareholders' equity 40,002 968 40,970 Non-redeemable noncontrolling interests 2,233 251 2,484 Total equity 42,235 1,219 43,454 Total liabilities and equity 526,634 (4,406) 522,228 The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Income (Loss): Three Months Ended March 31, 2022 As Previously Effect of Updated Balances (in millions, except per common share data) Revenues: Premiums $ 7,110 $ 10 $ 7,120 Policy fees 764 (34) 730 Total net realized gains (losses) 4,419 (840) 3,579 Total revenues 15,808 (864) 14,944 Benefits, losses and expenses: Policyholder benefits and losses incurred 5,255 (195) 5,060 Change in the fair value of market risk benefits, net — (233) (233) Interest credited to policyholder account balances 877 2 879 Amortization of deferred acquisition costs 1,437 (300) 1,137 General operating and other expenses 2,181 (17) 2,164 Total benefits, losses and expenses 9,973 (743) 9,230 Income (loss) from continuing operations before income tax expense (benefit) 5,835 (121) 5,714 Income tax expense (benefit) 1,179 (25) 1,154 Income (loss) from continuing operations 4,656 (96) 4,560 Net income (loss) 4,656 (96) 4,560 Net income (loss) from continuing operations attributable to noncontrolling interests 396 (9) 387 Net income (loss) attributable to AIG 4,260 (87) 4,173 Net income (loss) attributable to AIG common shareholders 4,253 (87) 4,166 Income (loss) per common share attributable to AIG common shareholders: Common stock - Basic 5.21 (0.11) 5.10 Common stock - Diluted 5.15 (0.11) 5.04 The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Comprehensive Income (Loss): Three Months Ended March 31, 2022 As Previously Effect of Updated Balances (in millions) Net income $ 4,656 $ (96) $ 4,560 Other comprehensive income (loss), net of tax Change in unrealized appreciation (depreciation) of all other investments (13,607) (2,534) (16,141) Change in fair value of market risk benefits related to our own credit risk — 782 782 Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts — 2,290 2,290 Other comprehensive income (loss) (13,648) 537 (13,111) Comprehensive income (loss) (8,992) 441 (8,551) Comprehensive income (loss) attributable to noncontrolling interests (665) 40 (625) Comprehensive income (loss) attributable to AIG (8,327) 401 (7,926) The following table presents the impacts in connection with the adoption of LDTI on January 1, 2021 on our previously reported Condensed Consolidated Statements of Cash Flows: Three Months Ended March 31, 2022 As Effect Updated Balances (in millions) Cash flows from operating activities: Net income $ 4,656 $ (96) $ 4,560 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Noncash revenues, expenses, gains and losses included in income (loss): Unrealized gains in earnings - net (2,006) 1,133 (873) Change in the fair value of market risk benefits in earnings, net — (496) (496) Depreciation and other amortization 1,447 (313) 1,134 Changes in operating assets and liabilities: Insurance reserves 1,734 (478) 1,256 Premiums and other receivables and payables - net (4,164) (2) (4,166) Reinsurance assets, net (1,223) 416 (807) Capitalization of deferred policy acquisition costs (1,386) (16) (1,402) Current and deferred income taxes - net 1,123 (25) 1,098 Other, net (158) (141) (299) Total adjustments (4,599) 78 (4,521) Net cash provided by operating activities 57 (18) 39 Cash flows from financing activities: Policyholder contract deposits 6,392 18 6,410 Net cash used in financing activities (595) 18 (577)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Continuing Operations by Operating Segment	The following table presents AIG’s continuing operations by operating segment: Three Months Ended March 31, 2023 2022 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 2,980 $ 299 (a) $ 2,789 $ 256 (a) International 3,279 203 (a) 3,467 190 (a) Net investment income 746 746 765 765 Total General Insurance 7,005 1,248 7,021 1,211 Life and Retirement Individual Retirement 1,484 533 1,347 466 Group Retirement 683 187 734 241 Life Insurance 1,249 82 1,311 113 Institutional Markets 1,955 84 549 114 Total Life and Retirement 5,371 886 3,941 934 Other Operations Other Operations before consolidation and eliminations 132 (434) 294 (288) AIG consolidation and eliminations (64) (57) (136) (133) Total Other Operations 68 (491) 158 (421) Total 12,444 1,643 11,120 1,724 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 13 (3) 14 13 Change in the fair value of market risk benefits, net (b) — (196) — 233 Changes in benefit reserves related to net realized gains (losses) — 6 — 2 Changes in the fair value of equity securities 51 51 (27) (27) Other income (expense) - net (7) — (7) — Net investment income on Fortitude Re funds withheld assets 446 446 291 291 Net realized gains (losses) on Fortitude Re funds withheld assets (31) (31) (140) (140) Net realized gains (losses) on Fortitude Re funds withheld embedded derivative (1,165) (1,165) 3,318 3,318 Net realized gains (losses) (c) (772) (766) 341 349 Net gain (loss) on divestitures and other — (2) — 40 Non-operating litigation reserves and settlements 1 1 34 34 (Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 19 — — Net loss reserve discount benefit (charge) — (64) — 20 Integration and transaction costs associated with acquiring or divesting businesses — (52) — (46) Restructuring and other costs — (117) — (93) Non-recurring costs related to regulatory or accounting changes — (13) — (4) Net impact from elimination of international reporting lag (d) 4 12 — — Revenues and pre-tax income (loss) $ 10,984 $ (231) $ 14,944 $ 5,714 (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 realized gains and losses on certain derivative instruments used for non-qualifying (economic) hedging. (c) 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). (d) See Note 1.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
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: March 31, 2023 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 $ 219 $ 5,536 $ — $ — $ — $ 5,755 Obligations of states, municipalities and political subdivisions — 10,775 873 — — 11,648 Non-U.S. governments 194 13,229 9 — — 13,432 Corporate debt — 136,139 2,432 — — 138,571 RMBS — 12,022 7,581 — — 19,603 CMBS — 13,936 938 — — 14,874 CLO/ABS — 11,625 13,889 — — 25,514 Total bonds available for sale 413 203,262 25,722 — — 229,397 Other bond securities: U.S. government and government sponsored entities — 1 — — — 1 Obligations of states, municipalities and political subdivisions — 139 1 — — 140 Non-U.S. governments — 60 — — — 60 Corporate debt — 2,416 130 — — 2,546 RMBS — 107 166 — — 273 CMBS — 290 27 — — 317 CLO/ABS — 415 1,010 — — 1,425 Total other bond securities — 3,428 1,334 — — 4,762 Equity securities 501 16 74 — — 591 Other invested assets (b) — 169 2,086 — — 2,255 Derivative assets (c) : Interest rate contracts — 2,046 356 — — 2,402 Foreign exchange contracts — 1,651 1 — — 1,652 Equity contracts 26 141 516 — — 683 Commodity contracts — 7 — — — 7 Credit contracts — — 33 — — 33 Other contracts — — 14 — — 14 Counterparty netting and cash collateral — — — (2,382) (1,793) (4,175) Total derivative assets 26 3,845 920 (2,382) (1,793) 616 Short-term investments 2,484 4,382 — — — 6,866 Market risk benefit assets — — 830 — — 830 Other assets (c) — — 110 — — 110 Separate account assets 84,202 3,155 — — — 87,357 Total $ 87,626 $ 218,257 $ 30,246 $ (2,382) $ (1,793) $ 331,954 Liabilities: Policyholder contract deposits $ — $ 45 $ 6,064 $ — $ — $ 6,109 Market risk benefit liabilities — — 5,144 — — 5,144 Derivative liabilities (c) : Interest rate contracts — 3,045 — — — 3,045 Foreign exchange contracts — 802 1 — — 803 Equity contracts 36 10 14 — — 60 Credit contracts — 7 33 — — 40 Counterparty netting and cash collateral — — — (2,382) (1,311) (3,693) Total derivative liabilities 36 3,864 48 (2,382) (1,311) 255 Fortitude Re funds withheld payable — — (1,863) — — (1,863) Other liabilities — — 112 — — 112 Long-term debt — 72 — — — 72 Total $ 36 $ 3,981 $ 9,505 $ (2,382) $ (1,311) $ 9,829 December 31, 2022 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 $ 25 $ 6,594 $ — $ — $ — $ 6,619 Obligations of states, municipalities and political subdivisions — 11,275 824 — — 12,099 Non-U.S. governments 158 13,326 1 — — 13,485 Corporate debt — 134,992 2,847 — — 137,839 RMBS — 11,264 7,553 — — 18,817 CMBS — 13,267 926 — — 14,193 CLO/ABS — 10,356 12,748 — — 23,104 Total bonds available for sale 183 201,074 24,899 — — 226,156 Other bond securities: Obligations of states, municipalities and political subdivisions — 111 — — — 111 Non-U.S. governments — 66 — — — 66 Corporate debt — 1,976 416 — — 2,392 RMBS — 113 173 — — 286 CMBS — 303 28 — — 331 CLO/ABS — 389 910 — — 1,299 Total other bond securities — 2,958 1,527 — — 4,485 Equity securities 518 18 39 — — 575 Other invested assets (b) — 145 2,075 — — 2,220 Derivative assets (c) : Interest rate contracts 1 3,410 311 — — 3,722 Foreign exchange contracts — 1,844 — — — 1,844 Equity contracts 11 132 285 — — 428 Commodity contracts — 9 — — — 9 Credit contracts — — 32 — — 32 Other contracts — — 14 — — 14 Counterparty netting and cash collateral — — — (3,895) (1,640) (5,535) Total derivative assets 12 5,395 642 (3,895) (1,640) 514 Short-term investments 2,821 2,887 — — — 5,708 Market risk benefit assets — — 796 — — 796 Other assets (c) — — 107 — — 107 Separate account assets 81,655 3,198 — — — 84,853 Total $ 85,189 $ 215,675 $ 29,289 $ (3,895) $ (1,640) $ 324,618 Liabilities: Policyholder contract deposits $ — $ 41 $ 5,367 $ — $ — $ 5,408 Market risk benefit liabilities — — 4,736 — — 4,736 Derivative liabilities (c) : Interest rate contracts — 4,838 — — — 4,838 Foreign exchange contracts — 1,138 — — — 1,138 Equity contracts 2 10 14 — — 26 Credit contracts — 9 32 — — 41 Counterparty netting and cash collateral — — — (3,895) (1,917) (5,812) Total derivative liabilities 2 5,995 46 (3,895) (1,917) 231 Fortitude Re funds withheld payable — — (2,235) — — (2,235) Other liabilities — — 112 — — 112 Long-term debt — 56 — — — 56 Total $ 2 $ 6,092 $ 8,026 $ (3,895) $ (1,917) $ 8,308 (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 $9.9 billion and $9.8 billion as of March 31, 2023 and December 31, 2022, respectively. (c) Presented as part of Other assets and Other liabilities on the Condensed Consolidated Balance Sheets. (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended March 31, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 824 $ 1 $ 55 $ (7) $ — $ — $ — $ 873 $ — $ 44 Non-U.S. governments 1 1 — — 7 — — 9 — — Corporate debt 2,847 (102) 51 (201) 274 (421) (16) 2,432 — 50 RMBS 7,553 109 (70) 10 — (21) — 7,581 — (98) CMBS 926 7 (3) 1 34 (27) — 938 — (34) CLO/ABS 12,748 50 271 840 58 (102) 24 13,889 — 229 Total bonds available for sale 24,899 66 304 643 373 (571) 8 25,722 — 191 Other bond securities: Obligations of states, municipalities and political subdivisions — — — 1 — — — 1 — — Corporate debt 416 1 — (96) — (191) — 130 3 — RMBS 173 5 — (12) — — — 166 (3) — CMBS 28 (1) — — — — — 27 (1) — CLO/ABS 910 36 — 18 1 (7) 52 1,010 24 — Total other bond securities 1,527 41 — (89) 1 (198) 52 1,334 23 — Equity securities 39 — — 27 8 — — 74 — — Other invested assets 2,075 (52) 5 58 — — — 2,086 (50) — Other assets 107 — — 3 — — — 110 — — Total (a) $ 28,647 $ 55 $ 309 $ 642 $ 382 $ (769) $ 60 $ 29,326 $ (27) $ 191 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,367 $ 381 $ — $ 316 $ — $ — $ — $ 6,064 $ (368) $ — Derivative liabilities, net: Interest rate contracts (311) 57 — (102) — — — (356) (50) — Equity contracts (271) (56) — (175) — — — (502) 51 136 Other contracts (14) (16) — 16 — — — (14) 16 — Total derivative liabilities, net (b) (596) (15) — (261) — — — (872) 17 136 Fortitude Re funds withheld payable (2,235) 1,165 — (793) — — — (1,863) (759) — Other Liabilities 112 — — — — — — 112 — — Total (c) $ 2,648 $ 1,531 $ — $ (738) $ — $ — $ — $ 3,441 $ (1,110) $ 136 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended March 31, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,431 $ 2 $ (285) $ (61) $ — $ — $ — $ 1,087 $ — $ (273) Non-U.S. governments 7 — — — 1 — — 8 — — Corporate debt 2,641 (11) (73) 177 130 (120) — 2,744 — (69) RMBS 10,378 130 (553) (608) — (422) — 8,925 — (544) CMBS 1,190 8 (67) 32 — (299) — 864 — (64) CLO/ABS 11,215 16 (501) 545 1,115 (614) — 11,776 — (501) Total bonds available for sale 26,862 145 (1,479) 85 1,246 (1,455) — 25,404 — (1,451) Other bond securities: Corporate debt 134 — — 77 61 (12) — 260 — — RMBS 196 (5) (1) 9 — — — 199 (8) — CMBS 35 (2) — — — — — 33 (2) — CLO/ABS 2,332 (114) — 195 57 (2) — 2,468 (161) — Total other bond securities 2,697 (121) (1) 281 118 (14) — 2,960 (171) — Equity securities 6 — (1) 1 — — — 6 — — Other invested assets 1,948 112 (4) (15) 47 (153) — 1,935 121 — Other assets 114 — — (6) — — — 108 — — Total (a) $ 31,627 $ 136 $ (1,485) $ 346 $ 1,411 $ (1,622) $ — $ 30,413 $ (50) $ (1,451) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,572 $ (658) $ — $ 121 $ — $ — $ — $ 5,035 $ 845 $ — Derivative liabilities, net: Interest rate contracts — (1) — (3) — — — (4) 1 — Foreign exchange contracts (1) — — 1 — — — — (1) — Equity contracts (444) 301 — (35) — — — (178) (241) — Credit contracts 30 1 — — — — — 31 (1) — Other contracts (13) (18) — 17 — — — (14) 18 — Total derivative liabilities, net (b) (428) 283 — (20) — — — (165) (224) — Fortitude Re funds withheld payable 5,922 (3,318) — (398) — — — 2,206 3,480 — Total (c) $ 11,066 $ (3,693) $ — $ (297) $ — $ — $ — $ 7,076 $ 4,101 $ — (a) Excludes MRB assets of $830 million and $666 million for the three-month periods ended March 31, 2023 and 2022, respectively. For additional information, see Note 12. (b) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. (c) Excludes MRB liabilities of $5.1 billion and $6.1 billion for the three-month periods ended March 31, 2023 and 2022, respectively. For additional information, see Note 12.
Schedule of Assets Measured on a Recurring Basis	The following table presents the gross components of purchases, sales, issuances and settlements, net, shown above, for the three-month periods ended March 31, 2023 and 2022 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 March 31, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (4) $ (4) $ (7) Corporate debt 21 — (222) (201) RMBS 290 (19) (261) 10 CMBS 10 (6) (3) 1 CLO/ABS 897 (3) (54) 840 Total bonds available for sale 1,219 (32) (544) 643 Other bond securities: Obligations of states, municipalities and political subdivisions 1 — — 1 Corporate debt — — (96) (96) RMBS 5 — (17) (12) CLO/ABS 46 (4) (24) 18 Total other bond securities 52 (4) (137) (89) (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Equity securities 29 — (2) 27 Other invested assets 72 — (14) 58 Other assets — — 3 3 Total $ 1,372 $ (36) $ (694) $ 642 Liabilities: Policyholder contract deposits $ — $ 326 $ (10) $ 316 Derivative liabilities, net (260) 5 (6) (261) Fortitude Re funds withheld payable — — (793) (793) Total $ (260) $ 331 $ (809) $ (738) Three Months Ended March 31, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (60) $ (2) $ (61) Corporate Debt 9 — 168 177 RMBS 109 — (717) (608) CMBS 70 — (38) 32 CLO/ABS 886 — (341) 545 Total bonds available for sale 1,075 (60) (930) 85 Other bond securities: Corporate debt 19 — 58 77 RMBS 17 — (8) 9 CLO/ABS 323 — (128) 195 Total other bond securities 359 — (78) 281 Equity securities — — 1 1 Other invested assets 258 — (273) (15) Other assets — — (6) (6) Total $ 1,692 $ (60) $ (1,286) $ 346 Liabilities: Policyholder contract deposits $ — $ 195 $ (74) $ 121 Derivative liabilities, net (85) 2 63 (20) Fortitude Re funds withheld payable — — (398) (398) Total $ (85) $ 197 $ (409) $ (297)
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	Market risk benefits and 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 Net Realized Change in the fair value of market risk benefits, net (a) Other Total Three Months Ended March 31, 2023 Assets: Bonds available for sale $ 62 $ 4 $ — $ — $ 66 Other bond securities 41 — — — 41 Other invested assets (51) (1) — — (52) Three Months Ended March 31, 2022 Assets: Bonds available for sale $ 164 $ (19) $ — $ — $ 145 Other bond securities (121) — — — (121) Other invested assets 112 — — — 112 (in millions) Net Net Realized Change in the fair value of market risk benefits, net (a) Other Total Three Months Ended March 31, 2023 Liabilities: Policyholder contract deposits (b) $ — $ 381 $ — $ — $ 381 Market risk benefit liabilities, net (c) — — 87 — 87 Derivative liabilities, net — (88) 89 (16) (15) Fortitude Re funds withheld payable — 1,165 — — 1,165 Three Months Ended March 31, 2022 Liabilities: Policyholder contract deposits (b) $ — $ (658) $ — $ — $ (658) Market risk benefit liabilities, net (c) — (3) (699) — (702) Derivative liabilities, net — 327 (29) (15) 283 Fortitude Re funds withheld payable — (3,318) — — (3,318) (a) The portion of the fair value change attributable to own credit risk, is recognized in OCI. (b) Primarily embedded derivatives. (c) Market risk benefit assets and liabilities have been netted in the above table for presentation purposes only.
Fair Value, Liabilities Measured on Recurring Basis, Liabilities	The following table presents the gross components of purchases, sales, issuances and settlements, net, shown above, for the three-month periods ended March 31, 2023 and 2022 related to Level 3 assets and liabilities in the Condensed Consolidated Balance Sheets:
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 CLO/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 $ 849 Discounted cash flow Yield 4.91% - 5.55% (5.23%) Corporate debt 2,034 Discounted cash flow Yield 4.76% - 11.60% (7.81%) RMBS (a) 5,035 Discounted cash flow Constant prepayment rate 4.78% - 10.23% (7.50%) Loss severity 44.53% - 77.94% (61.24%) Constant default rate 0.88% - 2.76% (1.82%) Yield 6.25% - 7.89% (7.07%) CLO/ABS (a) 9,288 Discounted cash flow Yield 5.56% - 7.42% (6.49%) CMBS 605 Discounted cash flow Yield 4.28% - 30.14% (13.87%) Market risk benefit assets 830 Discounted cash flow Equity volatility 6.55% - 51.75% Base lapse rate 0.16% - 28.80% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 38.25% - 160.01% Utilization 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.45% Liabilities (d) : Market risk benefit liabilities: Variable annuities guaranteed benefits 2,381 Discounted cash flow Equity volatility 6.55% - 51.75% Base lapse rate 0.16% - 28.80% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 38.25% - 160.01% Utilization 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.45% Fixed annuities guaranteed benefits 806 Discounted cash flow Base lapse rate 0.20% - 15.75% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 40.26% - 168.43% Utilization (g) 90.00% - 97.50% NPA (f) 0.34% - 2.45% Fixed index annuities guaranteed benefits 1,957 Discounted cash flow Equity volatility 6.55% - 51.75% Base lapse rate 0.20% - 50.00% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 97.50% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Option budget 0.00% - 6.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.45% Embedded derivatives within Policyholder contract deposits: Index credits on fixed index annuities 5,269 Discounted cash flow Equity volatility 6.55% - 51.75% Base lapse rate 0.20% - 50.00% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 97.50% Option budget 0.00% - 6.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.45% Index life 795 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 5.75% - 21.40% NPA (f) 0.34% - 2.45% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Assets: Obligations of states, municipalities and political subdivisions $ 799 Discounted cash flow Yield 5.28% - 5.94% (5.61%) Corporate debt 2,527 Discounted cash flow Yield 4.98% - 9.36% (7.17%) RMBS (a) 5,235 Discounted cash flow Constant prepayment rate 4.89% - 10.49% (7.69%) Loss severity 45.06% - 76.87% (60.97%) Constant default rate 0.82% - 2.72% (1.77%) Yield 5.98% - 7.75% (6.87%) CLO/ABS (a) 7,503 Discounted cash flow Yield 6.00% - 7.97% (6.99%) CMBS 587 Discounted cash flow Yield 4.06% - 13.14% (8.60%) Market risk benefit assets 796 Discounted cash flow Equity volatility 6.45% - 50.75% Base lapse rate 0.16% - 28.80% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 38.25% - 160.01% Utilization 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% Liabilities (d) : Market risk benefit liabilities: Variable annuities guaranteed benefits 2,358 Discounted cash flow Equity volatility 6.45% - 50.75% Base lapse rate 0.16% - 28.80% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 38.25% - 160.01% Utilization 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% Fixed annuities guaranteed benefits 680 Discounted cash flow Base lapse rate 0.20% - 15.75% Dynamic lapse multiplier 20.00% - 186.16% Mortality multiplier (e) 40.26% - 168.43% Utilization (g) 90.00% - 97.50% NPA (f) 0.00% - 2.03% Fixed index annuities guaranteed benefits 1,698 Discounted cash flow Equity volatility 6.45% - 50.75% Base lapse rate 0.20% - 50.00% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 97.50% Option budget 0.00% - 5.00% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% Embedded derivatives within Policyholder contract deposits: Index credits on fixed index annuities 4,657 Discounted cash flow Equity volatility 6.45% - 50.75% Base lapse rate 0.20% - 50.00% Dynamic lapse multiplier 20.00% - 186.18% Mortality multiplier (e) 24.00% - 180.00% Utilization (g) 60.00% - 97.50% Option budget 0.00% - 5.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% Index life 710 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 5.75% - 23.63% NPA (f) 0.00% - 2.03% (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 CLO 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 with policyholder contract deposits and market risk benefits 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.
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. March 31, 2023 December 31, 2022 (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 $ 3,285 $ 2,327 $ 3,146 $ 2,448 Real assets Investments in real estate properties, agricultural and infrastructure assets, including power plants and other energy producing assets 1,820 840 1,851 840 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 268 171 272 183 Growth equity Funds that make investments in established companies for the purpose of growing their businesses 715 49 732 60 Mezzanine Funds that make investments in the junior debt and equity securities of leveraged companies 592 155 598 142 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 1,920 389 1,829 391 Total private equity funds 8,600 3,931 8,428 4,064 Hedge funds: Event-driven Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations 102 — 92 — Long-short Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk 659 — 696 — Macro Investments that take long and short positions in financial instruments based on a top-down view of certain economic and capital market conditions 359 — 414 — 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 188 — 192 — Total hedge funds 1,308 — 1,394 — Total $ 9,908 $ 3,931 $ 9,822 $ 4,064
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: Three Months Ended March 31, Gain (Loss) (in millions) 2023 2022 Assets: Other bond securities (a) $ 136 $ (319) Alternative investments (b) 77 398 Liabilities: Long-term debt (c) (1) 103 Total gain (loss) $ 212 $ 182 (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: March 31, 2023 December 31, 2022 (in millions) Fair Value Outstanding Principal Amount Difference Fair Value Outstanding Principal Amount Difference Liabilities: Long-term debt* $ 72 $ 60 $ 12 $ 56 $ 45 $ 11 * 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 March 31, (in millions) Level 1 Level 2 Level 3 Total 2023 2022 March 31, 2023 Other assets $ — $ — $ 11 $ 11 $ 9 $ — Total $ — $ — $ 11 $ 11 $ 9 $ — December 31, 2022 Other investments $ — $ — $ 12 $ 12 Total $ — $ — $ 12 $ 12
Fair Value, by Balance Sheet Grouping	FAIR VALUE INFORMATION ABOUT FINANCIAL INSTRUMENTS NOT MEASURED AT FAIR VALUE 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 March 31, 2023 Assets: Mortgage and other loans receivable $ — $ 91 $ 47,719 $ 47,810 $ 50,730 Other invested assets — 865 6 871 870 Short-term investments — 6,387 — 6,387 6,387 Cash 1,923 — — 1,923 1,923 Other assets 29 1 — 30 30 Liabilities: Policyholder contract deposits associated with investment-type contracts — 115 132,903 133,018 138,269 Fortitude Re funds withheld payable — — 32,231 32,231 32,231 Other liabilities — 2,614 — 2,614 2,614 Short-term and long-term debt — 20,096 284 20,380 22,028 Debt of consolidated investment entities — 1,265 2,624 3,889 3,944 Separate account liabilities - investment contracts — 83,452 — 83,452 83,452 December 31, 2022 Assets: Mortgage and other loans receivable $ — $ 89 $ 45,755 $ 45,844 $ 49,442 Other invested assets — 848 6 854 854 Short-term investments — 6,668 — 6,668 6,668 Cash 2,043 — — 2,043 2,043 Other assets 24 9 — 33 33 Liabilities: Policyholder contract deposits associated with investment-type contracts — 119 129,174 129,293 137,086 Fortitude Re funds withheld payable — — 32,618 32,618 32,618 Other liabilities — 3,101 — 3,101 3,101 Short-term and long-term debt — 19,328 275 19,603 21,243 Debt of consolidated investment entities — 3,055 2,478 5,533 5,880 Separate account liabilities - investment contracts — 80,649 — 80,649 80,649

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 Bonds available for sale: U.S. government and government sponsored entities $ 5,995 $ — $ 49 $ (289) $ 5,755 Obligations of states, municipalities and political subdivisions 12,344 — 161 (857) 11,648 Non-U.S. governments 14,928 (10) 109 (1,595) 13,432 Corporate debt 157,227 (81) 1,542 (20,117) 138,571 Mortgage-backed, asset-backed and collateralized: RMBS 20,230 (37) 778 (1,368) 19,603 CMBS 16,278 (8) 21 (1,417) 14,874 CLO/ABS 27,177 — 66 (1,729) 25,514 Total mortgage-backed, asset-backed and collateralized 63,685 (45) 865 (4,514) 59,991 Total bonds available for sale (b) $ 254,179 $ (136) $ 2,726 $ (27,372) $ 229,397 December 31, 2022 Bonds available for sale: U.S. government and government sponsored entities $ 7,094 $ — $ 21 $ (496) $ 6,619 Obligations of states, municipalities and political subdivisions 13,195 — 99 (1,195) 12,099 Non-U.S. governments 15,133 (6) 91 (1,733) 13,485 Corporate debt 160,242 (132) 1,152 (23,423) 137,839 Mortgage-backed, asset-backed and collateralized: RMBS 19,584 (37) 807 (1,537) 18,817 CMBS 15,610 (11) 14 (1,420) 14,193 CLO/ABS 25,135 — 38 (2,069) 23,104 Total mortgage-backed, asset-backed and collateralized 60,329 (48) 859 (5,026) 56,114 Total bonds available for sale (b) $ 255,993 $ (186) $ 2,222 $ (31,873) $ 226,156 (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 March 31, 2023 and December 31, 2022, the fair value of bonds available for sale held by us that were below investment grade or not rated totaled $19.6 billion or 9 percent and $22.3 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 March 31, 2023 Bonds available for sale: U.S. government and government sponsored entities $ 3,573 $ 275 $ 256 $ 14 $ 3,829 $ 289 Obligations of states, municipalities and political subdivisions 6,907 832 317 25 7,224 857 Non-U.S. governments 10,501 1,574 442 16 10,943 1,590 Corporate debt 92,595 15,340 25,579 4,739 118,174 20,079 RMBS 9,238 900 2,786 375 12,024 1,275 CMBS 10,228 912 3,333 494 13,561 1,406 CLO/ABS 13,672 816 8,344 913 22,016 1,729 Total bonds available for sale $ 146,714 $ 20,649 $ 41,057 $ 6,576 $ 187,771 $ 27,225 Less than 12 Months 12 Months or More Total (in millions) Fair Gross Fair Gross Fair Gross December 31, 2022 Bonds available for sale: U.S. government and government sponsored entities $ 3,493 $ 368 $ 1,816 $ 128 $ 5,309 $ 496 Obligations of states, municipalities and political subdivisions 8,697 1,180 73 15 8,770 1,195 Non-U.S. governments 10,702 1,526 779 191 11,481 1,717 Corporate debt 110,683 19,756 13,778 3,609 124,461 23,365 RMBS 10,953 1,293 1,005 182 11,958 1,475 CMBS 11,620 1,094 1,728 326 13,348 1,420 CLO/ABS 16,852 1,388 4,307 681 21,159 2,069 Total bonds available for sale $ 173,000 $ 26,605 $ 23,486 $ 5,132 $ 196,486 $ 31,737
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 March 31, 2023 Due in one year or less $ 9,146 $ 9,053 Due after one year through five years 47,843 45,864 Due after five years through ten years 43,027 39,247 Due after ten years 90,387 75,242 Mortgage-backed, asset-backed and collateralized 63,640 59,991 Total $ 254,043 $ 229,397
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 March 31, 2023 2022 (in millions) Gross Gross Gross Gross Fixed maturity securities $ 146 $ 598 $ 97 $ 236 The following table presents the components of Net realized gains (losses): Three Months Ended March 31, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Sales of fixed maturity securities $ (387) $ (65) $ (452) $ (107) $ (32) $ (139) Change in allowance for credit losses on fixed maturity securities (16) — (16) (53) (40) (93) Change in allowance for credit losses on loans (42) (21) (63) (19) (8) (27) Foreign exchange transactions 114 16 130 (13) (9) (22) Index-linked interest credited embedded derivatives, net of related hedges (178) — (178) 203 — 203 All other derivatives and hedge accounting* (217) 38 (179) 400 (56) 344 Sales of alternative investments and real estate investments 4 1 5 16 1 17 Other 9 — 9 (26) 4 (22) Net realized gains (losses) – excluding Fortitude Re funds withheld embedded derivative (713) (31) (744) 401 (140) 261 Net realized gains (losses) on Fortitude Re funds withheld embedded derivative — (1,165) (1,165) — 3,318 3,318 Net realized gains (losses) $ (713) $ (1,196) $ (1,909) $ 401 $ 3,178 $ 3,579 * Derivative activity related to hedging MRBs is recorded in Change in the fair value of MRBs, net. For additional disclosures about MRBs, see Note 12.
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) March 31, 2023 December 31, 2022 Fair Percent Fair Percent Fixed maturity securities: U.S. government and government sponsored entities $ 1 — % $ — — % Obligations of states, municipalities and political subdivisions 140 3 111 2 Non-U.S. governments 60 1 66 1 Corporate debt 2,546 48 2,392 47 Mortgage-backed, asset-backed and collateralized: RMBS 273 5 286 6 CMBS 317 6 331 7 CLO/ABS and other collateralized 1,425 27 1,299 26 Total mortgage-backed, asset-backed and collateralized 2,015 38 1,916 39 Total fixed maturity securities 4,762 90 4,485 89 Equity securities 591 10 575 11 Total $ 5,353 100 % $ 5,060 100 %
Schedule of Other Invested Assets	The following table summarizes the carrying amounts of other invested assets: (in millions) March 31, 2023 December 31, 2022 Alternative investments (a)(b) $ 11,852 $ 11,809 Investment real estate (c) 2,199 2,153 All other investments (d) 2,053 1,991 Total $ 16,104 $ 15,953 (a) At March 31, 2023, included hedge funds of $1.3 billion and private equity funds of $10.5 billion. At December 31, 2022, included hedge funds of $1.4 billion and private equity funds of $10.4 billion. (b) At March 31, 2023, approximately 65 percent of our hedge fund portfolio is available for redemption in 2023. The remaining 35 percent will be available for redemption between 2024 and 2028. (c) Represents values net of accumulated depreciation. At March 31, 2023 and December 31, 2022, the accumulated depreciation was $802 million and $786 million, respectively.
Investment Income	NET INVESTMENT INCOME The following table presents the components of Net investment income: Three Months Ended March 31, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 2,546 $ 243 $ 2,789 $ 2,041 $ 301 $ 2,342 Other fixed maturity securities (a) 12 123 135 (201) (118) (319) Equity securities 51 — 51 (27) — (27) Interest on mortgage and other loans 567 59 626 453 46 499 Alternative investments (b) 76 31 107 669 71 740 Real estate 3 — 3 — — — Other investments (c) 28 (1) 27 157 — 157 Total investment income 3,283 455 3,738 3,092 300 3,392 Investment expenses 196 9 205 146 9 155 Net investment income $ 3,087 $ 446 $ 3,533 $ 2,946 $ 291 $ 3,237 (a) Included in the three-month period ended March 31, 2022 was income (loss) of $(95) million 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-month periods ended March 31, 2023 and 2022 were income (loss) of $(3) million and $91 million, respectively, related to liabilities measured at fair value that are economically hedged with fixed maturity securities as described in (a) above.
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 March 31, (in millions) 2023 2022 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ 5,005 $ (20,160) Other investments — (7) Total increase (decrease) in unrealized appreciation (depreciation) of investments $ 5,005 $ (20,167) 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 March 31, 2023 2022 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ 51 $ 110 $ 161 $ (27) $ 475 $ 448 Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period 153 1 154 94 (3) 91 Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ (102) $ 109 $ 7 $ (121) $ 478 $ 357
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 March 31, 2023 2022 (in millions) Structured Non- Total Structured Non- Total Balance, beginning of year $ 46 $ 140 $ 186 $ 8 $ 90 $ 98 Additions: Securities for which allowance for credit losses were not previously recorded 2 22 24 49 128 177 Reductions: Securities sold during the period (1) (10) (11) — (1) (1) 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 (4) (4) (8) (42) (42) (84) Write-offs charged against the allowance — (50) (50) — — — Other 2 (7) (5) — 1 1 Balance, end of period $ 45 $ 91 $ 136 $ 15 $ 176 $ 191
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) March 31, 2023 December 31, 2022 Fixed maturity securities available for sale $ 2,679 $ 2,968 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 up to 31 - 90 91 - 364 365 days Total March 31, 2023 Bonds available for sale: Non-U.S. governments $ — $ 74 $ — $ — $ — $ 74 Corporate debt 28 2,084 493 — — 2,605 Total $ 28 $ 2,158 $ 493 $ — $ — $ 2,679 December 31, 2022 Bonds available for sale: Non-U.S. governments $ — $ 20 $ — $ — $ — $ 20 Corporate debt — 2,371 577 — — 2,948 Total $ — $ 2,391 $ 577 $ — $ — $ 2,968

Lending Activities (Tables)

Lending Activities (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Composition of Mortgages and Other Loans Receivable	The following table presents the composition of Mortgage and other loans receivable, net: (in millions) March 31, 2023 December 31, 2022 Commercial mortgages (a) $ 37,779 $ 37,128 Residential mortgages 6,899 6,130 Life insurance policy loans 1,747 1,758 Commercial loans, other loans and notes receivable (b) 5,191 5,305 Total mortgage and other loans receivable (c) 51,616 50,321 Allowance for credit losses (c) (d) (786) (716) Mortgage and other loans receivable, net (c) $ 50,830 $ 49,605 (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 19 percent and 11 percent, respectively, at March 31, 2023 and 19 percent and 11 percent, respectively, at December 31, 2022). (b) Includes loans held for sale which are carried at lower of cost or market and are collateralized primarily by apartments. As of March 31, 2023 and December 31, 2022, the net carrying value of these loans were $173 million and $170 million, respectively. (c) Excludes $37.6 billion and $37.6 billion, respectively, at March 31, 2023 and December 31, 2022 of loan receivable from AIGFP, which has a full allowance for credit losses, recognized upon the deconsolidation of AIGFP. For additional information, see Note 1. (d) Does not include allowance for credit losses of $62 million and $69 million, respectively, at March 31, 2023 and December 31, 2022, 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: March 31, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) >1.2X $ 339 $ 5,615 $ 2,441 $ 1,288 $ 5,076 $ 15,838 $ 30,597 1.00 - 1.20X 57 1,051 1,050 909 431 1,686 5,184 <1.00X — 49 — 23 — 1,926 1,998 Total commercial mortgages $ 396 $ 6,715 $ 3,491 $ 2,220 $ 5,507 $ 19,450 $ 37,779 December 31, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) >1.2X $ 5,518 $ 2,457 $ 1,710 $ 4,985 $ 4,120 $ 11,663 $ 30,453 1.00 - 1.20X 910 898 473 416 567 1,353 4,617 <1.00X 45 — 23 52 744 1,194 2,058 Total commercial mortgages $ 6,473 $ 3,355 $ 2,206 $ 5,453 $ 5,431 $ 14,210 $ 37,128 The following table presents loan-to-value ratios (b) for commercial mortgages by year of vintage: March 31, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) Less than 65% $ 354 $ 5,602 $ 2,674 $ 1,786 $ 4,006 $ 14,091 $ 28,513 65% to 75% 42 1,063 527 269 1,451 2,509 5,861 76% to 80% — 50 52 — — 424 526 Greater than 80% — — 238 165 50 2,426 2,879 Total commercial mortgages $ 396 $ 6,715 $ 3,491 $ 2,220 $ 5,507 $ 19,450 $ 37,779 December 31, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) Less than 65% $ 5,425 $ 2,548 $ 1,775 $ 3,958 $ 3,016 $ 10,739 $ 27,461 65% to 75% 998 517 405 1,445 1,487 1,393 6,245 76% to 80% 50 52 — — 168 229 499 Greater than 80% — 238 26 50 760 1,849 2,923 Total commercial mortgages $ 6,473 $ 3,355 $ 2,206 $ 5,453 $ 5,431 $ 14,210 $ 37,128 (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 periods ended on March 31, 2023 and December 31, 2022. 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 59 percent at both periods ended on March 31, 2023 and December 31, 2022. The loan-to-value ratios have been updated within the last three months to reflect the current carrying values of the loans. We update the valuations of collateral properties by obtaining independent appraisals, generally at least once per year. The following table presents supplementary credit quality information related to commercial mortgages: Number Class Percent (dollars in millions) Apartments Offices Retail Industrial Hotel Others Total March 31, 2023 Past Due Status: In good standing 621 $ 14,608 $ 9,950 $ 4,090 $ 6,062 $ 2,082 $ 417 $ 37,209 98 % 90 days or less delinquent 2 360 — — — — — 360 1 >90 days delinquent or in process of foreclosure 4 — 169 41 — — — 210 1 Total (b) 627 $ 14,968 $ 10,119 $ 4,131 $ 6,062 $ 2,082 $ 417 $ 37,779 100 % Allowance for credit losses $ 101 $ 411 $ 87 $ 72 $ 27 $ 8 $ 706 2 % December 31, 2022 Past Due Status: In good standing 625 $ 14,597 $ 10,102 $ 3,774 $ 6,006 $ 2,027 $ 407 $ 36,913 99 % 90 days or less delinquent — — — — — — — — — >90 days delinquent or in process of foreclosure 4 — 173 42 — — — 215 1 Total (a) 629 $ 14,597 $ 10,275 $ 3,816 $ 6,006 $ 2,027 $ 407 $ 37,128 100 % Allowance for credit losses $ 100 $ 351 $ 81 $ 71 $ 29 $ 8 $ 640 2 % (a) Does not reflect allowance for credit losses. The following table presents credit quality performance indicators for residential mortgages by year of vintage: March 31, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) FICO*: 780 and greater $ 70 $ 539 $ 2,328 $ 649 $ 234 $ 637 $ 4,457 720 - 779 269 541 511 168 71 234 1,794 660 - 719 72 231 82 34 16 104 539 600 - 659 2 21 6 1 2 50 82 Less than 600 — — 1 — 2 24 27 Total residential mortgages $ 413 $ 1,332 $ 2,928 $ 852 $ 325 $ 1,049 $ 6,899 December 31, 2022 2022 2021 2020 2019 2018 Prior Total (in millions) FICO*: 780 and greater $ 296 $ 2,204 $ 654 $ 232 $ 77 $ 567 $ 4,030 720 - 779 536 728 168 76 32 169 1,709 660 - 719 163 80 28 16 9 62 358 600 - 659 2 4 2 2 2 14 26 Less than 600 — — — 1 — 6 7 Total residential mortgages $ 997 $ 3,016 $ 852 $ 327 $ 120 $ 818 $ 6,130 * 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 March 31, 2023 (b) 2022 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of year $ 640 $ 76 $ 716 $ 545 $ 84 $ 629 Loans charged off — — — (4) — (4) Net charge-offs — — — (4) — (4) Addition to (release of) allowance for loan losses 66 4 70 (8) — (8) Allowance, end of period $ 706 $ 80 $ 786 $ 533 $ 84 $ 617 (a) Does not include allowance for credit losses of $62 million and $106 million, respectively, at March 31, 2023 and 2022 in relation to off-balance-sheet commitments to fund commercial mortgage loans, which is recorded in Other liabilities. (b) Excludes $37.6 billion and $37.6 billion, respectively, at March 31, 2023 and December 31, 2022, of loan receivable from AIGFP, which has a full allowance for credit losses, recognized upon the deconsolidation of AIGFP. For additional information, see Note 1.

Reinsurance (Tables)

Reinsurance (Tables)	3 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Effects of Reinsurance	The following tables present the transition rollforward for Reinsurance assets: (in millions) Individual Life Institutional Total Reinsurance assets - other, net of allowance for credit losses and disputes (a) Pre-adoption, December 31, 2020 $ 309 $ 2,370 $ 28 $ 2,707 Reclassification of Cost of Reinsurance (b) — 416 — 416 Reclassification to Market risk benefits (35) — — (35) Change in cash flow assumptions and effect of net premiums exceeding gross premiums — 9 — 9 Change due to the current upper-medium grade discount rate — 74 5 79 Post adoption January 1, 2021 $ 274 $ 2,869 $ 33 $ 3,176 (a) Excludes $36.3 billion of Reinsurance assets - other, net of allowance for credit losses and disputes in General Insurance and Other Operations. (b) Cost of reinsurance is reported in Other liabilities in the Condensed consolidated Balance sheets. (in millions) Total Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes* Pre-adoption, December 31, 2020 $ 29,135 Change in cash flow assumptions and effect of net premiums exceeding gross premiums 55 Change due to the current upper-medium grade discount rate 7,611 Post adoption January 1, 2021 $ 36,801
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: March 31, 2023 December 31, 2022 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 18,640 $ 18,640 $ 18,821 $ 18,821 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 4,406 4,406 4,182 4,182 Fair value through net investment income Commercial mortgage loans 4,152 3,927 4,107 3,837 Amortized cost Real estate investments 130 315 133 348 Amortized cost Private equity funds / hedge funds 1,901 1,901 1,893 1,893 Fair value through net investment income Policy loans 345 345 355 355 Amortized cost Short-term investments 184 184 75 75 Fair value through net investment income Funds withheld investment assets 29,758 29,718 29,566 29,511 Derivative assets, net (b) 80 80 90 90 Fair value through net realized gains (losses) Other (c) 570 570 782 782 Amortized cost Total $ 30,408 $ 30,368 $ 30,438 $ 30,383 (a) The change in the net unrealized gains (losses) on available for sale securities related to the Fortitude Re funds withheld assets was $704 million ($556 million after-tax) and $(3.3) billion ($(2.6) billion after-tax), respectively for three months ended March 31, 2023 and 2022. (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 $278 million and $24 million, respectively, as of March 31, 2023. The derivative assets and liabilities supporting the Fortitude Re funds withheld arrangements had a fair market value of $192 million and $28 million, respectively, as of December 31, 2022. 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 March 31, (in millions) 2023 2022 Net investment income - Fortitude Re funds withheld assets $ 446 $ 291 Net realized gains (losses) on Fortitude Re funds withheld assets: Net realized losses - Fortitude Re funds withheld assets (31) (140) Net realized gains (losses) - Fortitude Re funds withheld embedded derivative (1,165) 3,318 Net realized gains (losses) on Fortitude Re funds withheld assets (1,196) 3,178 Income (loss) from continuing operations before income tax expense (benefit) (750) 3,469 Income tax expense (benefit) (a) (158) 728 Net income (loss) (592) 2,741 Change in unrealized appreciation (depreciation) of all other investments (a) 556 (2,638) Comprehensive income (loss) $ (36) $ 103 (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 March 31, 2023 2022 (in millions) General Insurance Life and Retirement Total General Insurance Life and Retirement Total Balance, beginning of year $ 260 $ 84 $ 344 $ 281 $ 101 $ 382 Addition to (release of) allowance for expected credit losses and disputes, net (3) (10) (13) 5 4 9 Write-offs charged against the allowance for credit losses and disputes (1) — (1) (2) — (2) Other changes (3) — (3) 2 — 2 Balance, end of period $ 253 $ 74 $ 327 $ 286 $ 105 $ 391

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	3 Months Ended
	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Policy Acquisition Costs	The following table presents the transition rollforward for DAC*: Individual Group Life Institutional Total (in millions) Pre-adoption December 31, 2020 DAC balance $ 2,359 $ 560 $ 4,371 $ 26 $ 7,316 Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) 2,062 534 547 7 3,150 Post adoption January 1, 2021 DAC balance $ 4,421 $ 1,094 $ 4,918 $ 33 $ 10,466 * Excludes $2.5 billion of DAC in General Insurance. The following table presents a rollforward of DAC: Three Months Ended March 31, 2023 General Individual Group Life Institutional (in millions) Total Balance, beginning of year $ 2,310 $ 4,597 $ 1,060 $ 4,839 $ 51 $ 12,857 Capitalization 1,358 187 20 120 4 1,689 Amortization expense (1,034) (137) (21) (99) (2) (1,293) Other, including foreign exchange 40 — — 11 — 51 Balance, end of period $ 2,674 $ 4,647 $ 1,059 $ 4,871 $ 53 $ 13,304 Three Months Ended March 31, 2022 Balance, beginning of year $ 2,428 $ 4,553 $ 1,078 $ 4,904 $ 38 $ 13,001 Capitalization 1,129 143 15 112 3 1,402 Amortization expense (893) (118) (19) (106) (1) (1,137) Other, including foreign exchange (16) — — (30) (1) (47) Balance, end of period $ 2,648 $ 4,578 $ 1,074 $ 4,880 $ 39 $ 13,219 The following table presents the transition rollforward for DSI*: (in millions) Individual Group Total Pre-adoption December 31, 2020 DSI balance $ 190 $ 91 $ 281 Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) 284 114 398 Post adoption January 1, 2021 DSI balance $ 474 $ 205 $ 679 * Others assets, excluding DSI, totaled $12.8 billion. The following table presents a rollforward of DSI: Three Months Ended March 31, 2023 2022 (in millions) Individual Group Total Individual Group Total Balance, beginning of year $ 381 $ 177 $ 558 $ 428 $ 191 $ 619 Capitalization 2 — 2 2 — 2 Amortization expense (14) (3) (17) (13) (4) (17) Balance, end of period* $ 369 $ 174 $ 543 $ 417 $ 187 $ 604 * At March 31, 2023 and March 31, 2022, Others assets, excluding DSI, totaled $12.4 billion and $12.6 billion, respectively.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2023
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 (e) Total March 31, 2023 Assets: Bonds available for sale $ — $ 1,627 $ 1,627 Equity securities 40 — 40 Mortgage and other loans receivable — 2,165 2,165 Other invested assets Alternative investments (a) 2,840 — 2,840 Investment real estate 1,766 — 1,766 Short-term investments 190 166 356 Cash 96 — 96 Accrued investment income — 7 7 Other assets 134 6 140 Total (b) $ 5,066 $ 3,971 $ 9,037 Liabilities: Debt of consolidated investment entities $ 1,339 $ 2,419 $ 3,758 Other (c) 96 29 125 Total $ 1,435 $ 2,448 $ 3,883 (in millions) Real Estate and Investment Entities (d) Securitization Vehicles (e) Total December 31, 2022 Assets: Bonds available for sale $ — $ 3,672 $ 3,672 Equity securities 51 — 51 Mortgage and other loans receivable — 2,221 2,221 Other invested assets Alternative investments (a) 2,842 — 2,842 Investment real estate 1,731 — 1,731 Short-term investments 191 281 472 Cash 71 — 71 Accrued investment income — 9 9 Other assets 102 70 172 Total (b) $ 4,988 $ 6,253 $ 11,241 Liabilities: Debt of consolidated investment entities $ 1,358 $ 4,336 $ 5,694 Other (c) 85 47 132 Total $ 1,443 $ 4,383 $ 5,826 (a) Comprised primarily of investments in real estate joint ventures at March 31, 2023 and December 31, 2022. (b) The assets of each VIE can be used only to settle specific obligations of that VIE. (c) Comprised primarily of Other liabilities at March 31, 2023 and December 31, 2022. (d) At March 31, 2023 and December 31, 2022, off-balance sheet exposure primarily consisting of our insurance companies’ commitments to real estate and investment entities were $2.0 billion and $2.1 billion, respectively, of which commitments to external parties were $0.5 billion and $0.6 billion, respectively. (e) During the three-month period ended March 31, 2023, as part of the sale of AIG Credit Management, LLC, certain consolidated investment entities were deconsolidated. The impact of the deconsolidation was a decrease of $2.1 billion in assets and $1.9 billion in liabilities, resulting in a pre-tax loss of $5 million. 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 (c) Off-Balance Total March 31, 2023 Real estate and investment entities (a) $ 501,701 $ 9,314 $ 3,895 (d) $ 13,209 Other (b) 1,027 58 748 (e) 806 Total $ 502,728 $ 9,372 $ 4,643 $ 14,015 December 31, 2022 Real estate and investment entities (a) $ 504,219 $ 9,145 $ 3,938 (d) $ 13,083 Other (b) 1,302 247 747 (e) 994 Total $ 505,521 $ 9,392 $ 4,685 $ 14,077 (a) Comprised primarily of hedge funds and private equity funds. (b) At March 31, 2023 and December 31, 2022, excludes approximately $2,104 million and $2,057 million, respectively, of VIE assets related to AIGFP and its consolidated subsidiaries, with maximum off-balance sheet exposure to loss of $2,080 million and $2,033 million, respectively. For additional information, see Note 1. (c) At March 31, 2023 and December 31, 2022, $9.3 billion and $9.3 billion, respectively, of our total unconsolidated VIE assets were recorded as Other invested assets. (d) These amounts represent our unfunded commitments to invest in private equity funds and hedge funds. (e) 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)	3 Months Ended
	Mar. 31, 2023
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: March 31, 2023 December 31, 2022 Gross Derivative Assets Gross Derivative Liabilities Gross Derivative Assets Gross Derivative Liabilities (in millions) Notional Fair Notional Fair Notional Fair Notional Fair Derivatives designated as hedging instruments: (a) Interest rate contracts $ 671 $ 388 $ 1,652 $ 44 $ 251 $ 355 $ 1,688 $ 66 Foreign exchange contracts 4,500 573 4,717 230 4,543 642 4,899 317 Derivatives not designated as hedging instruments: (a) Interest rate contracts 25,756 2,014 39,840 3,001 39,833 3,367 34,128 4,772 Foreign exchange contracts 10,505 1,079 9,510 573 8,626 1,202 10,397 821 Equity contracts 27,092 683 6,930 60 31,264 428 4,740 26 Commodity contracts 80 7 5 — 212 9 20 — Credit contracts (b) 1,810 33 932 40 1,808 32 933 41 Other contracts (c) 46,652 14 — — 47,184 14 — — Total derivatives, gross $ 117,066 $ 4,791 $ 63,586 $ 3,948 $ 133,721 $ 6,049 $ 56,805 $ 6,043 Counterparty netting (d) (2,382) (2,382) (3,895) (3,895) Cash collateral (e) (1,793) (1,311) (1,640) (1,917) Total derivatives on Condensed Consolidated Balance Sheets (f) $ 616 $ 255 $ 514 $ 231 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) As of March 31, 2023 and December 31, 2022, included CDSs on super senior multi-sector CLOs with a net notional amount of $78 million and $79 million (fair value liability of $32 million and $32 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 $1.9 billion at March 31, 2023 and $2.2 billion at December 31, 2022. Fair value of liabilities related to bifurcated embedded derivatives was $6.1 billion and $5.4 billion, respectively, at March 31, 2023 and December 31, 2022. 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 fixed index annuities and index universal life 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 March 31, 2023 Interest rate contracts: Interest credited to policyholder account balances $ 43 $ — $ (47) $ (4) Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) (130) 76 130 76 Three Months Ended March 31, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (21) $ — $ 23 $ 2 Net investment income 1 — (1) — Foreign exchange contracts: Net realized gains/(losses) 109 42 (109) 42 (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): Three Months Ended March 31, Gains (Losses) Recognized in Income (in millions) 2023 2022 By Derivative Type: Interest rate contracts $ 95 $ (613) Foreign exchange contracts (101) 236 Equity contracts (78) (204) Commodity contracts 7 (4) Credit contracts (1) (1) Other contracts 16 18 Embedded derivatives (1,548) 3,979 Total $ (1,610) $ 3,411 By Classification: Policy fees $ 16 $ 15 Net investment income - excluding Fortitude Re funds withheld assets — (1) Net investment income - Fortitude Re funds withheld assets (2) — Net realized gains (losses) - excluding Fortitude Re funds withheld assets (391) 607 Net realized gains (losses) on Fortitude Re funds withheld assets (a) (1,127) 3,262 Policyholder benefits and claims incurred 3 (7) Change in the fair value of market risk benefits, net (b) (109) (465) Total $ (1,610) $ 3,411 (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)	3 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Rollforward of Activity in Loss Reserves	The following table presents the rollforward of activity in loss reserves: Three Months Ended March 31, (in millions) 2023 2022 Liability for unpaid loss and loss adjustment expenses, beginning of year $ 75,167 $ 79,026 Reinsurance recoverable (32,102) (35,213) Net Liability for unpaid loss and loss adjustment expenses, beginning of year 43,065 43,813 Losses and loss adjustment expenses incurred: Current year 3,784 3,882 Prior years, excluding discount and amortization of deferred gain (27) (51) Prior years, discount charge (benefit) 94 4 Prior years, amortization of deferred gain on retroactive reinsurance (a) (60) (42) Total losses and loss adjustment expenses incurred 3,791 3,793 Losses and loss adjustment expenses paid: Current year (289) (323) Prior years (3,549) (3,442) Total losses and loss adjustment expenses paid (3,838) (3,765) Other changes: Foreign exchange effect 397 4 Retroactive reinsurance adjustment (net of discount) (b) 12 17 Total other changes 409 21 Liability for unpaid loss and loss adjustment expenses, end of year: Net liability for unpaid losses and loss adjustment expenses 43,427 43,862 Reinsurance recoverable 32,366 34,321 Total $ 75,793 $ 78,183 (a) Includes $7 million and $4 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 March 31, 2023 and 2022, respectively. (b) Includes benefit (charge) from change in discount on retroactive reinsurance in the amount of $70 million and $39 million for the three-month periods ended March 31, 2023 and 2022, respectively.
Schedule of Components of Loss Reserve Discount	The following table presents the components of the loss reserve discount discussed above: (in millions) March 31, 2023 December 31, 2022 U.S. workers' compensation $ 2,468 $ 2,532 Retroactive reinsurance (1,184) (1,254) Total reserve discount (a)(b) $ 1,284 $ 1,278 (a) Excludes $139 million and $135 million of discount related to certain long-tail liabilities in the UK at March 31, 2023 and December 31, 2022, respectively.
Schedule of Loss Reserve Discount	The following table presents the net loss reserve discount benefit (charge): Three Months Ended March 31, (in millions) 2023 2022 Current accident year $ 30 $ 24 Accretion and other adjustments to prior year discount (94) (4) Net reserve discount benefit (charge) (64) 20 Change in discount on loss reserves ceded under retroactive reinsurance 70 39 Net change in total reserve discount* $ 6 $ 59 * Excludes $4 million and $2 million of discount related to certain long-tail liabilities in the UK for the three-month periods ended March 31, 2023 and 2022, respectively.
Liability for Future Policy Benefit, Activity	The following table presents the transition rollforward of the liability for future policy benefits for nonparticipating contracts (a) : Individual Group Life Institutional Other (b) Total (in millions) Pre-adoption December 31, 2020 liability for future policy benefits balance $ 1,309 $ 282 $ 11,129 $ 11,029 $ 22,206 $ 45,955 Adjustments for the reclassification to the deferred profit liability (65) (8) — (766) (859) (1,698) Change in cash flow assumptions and effect of net premiums exceeding gross premiums (14) 2 15 4 55 62 Effect of the remeasurement of the liability at a current single A rate 156 63 2,977 1,655 7,611 12,462 Adjustment for the removal of loss recognition balances related to unrealized gain or loss on securities (64) (60) 4 (292) — (412) Post adoption January 1, 2021 liability for future policy benefits balance $ 1,322 $ 279 $ 14,125 $ 11,630 $ 29,013 $ 56,369 (a) Excludes future policy benefits for participating contracts, DPL, additional liabilities, Accident and Health, Group Benefits and Other Operations representing $11.0 billion of liability for future policy benefits. See transition tables below for DPL and additional liabilities. (b) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the balances and changes in the liability for future policy benefits and a reconciliation of the net liability for future policy benefits to the liability for future policy benefits in the Condensed Consolidated Balance Sheets: Three Months Ended March 31, 2023 General Individual Group Life Institutional Other (e) Total (in millions, except for liability durations) Present value of expected net premiums Balance, beginning of year $ 1,929 $ — $ — $ 11,654 $ — $ 991 $ 14,574 Effect of changes in discount rate assumptions (AOCI) 262 — — 1,872 — 66 2,200 Beginning balance at original discount rate 2,191 — — 13,526 — 1,057 16,774 Effect of changes in cash flow assumptions — — — — — — — Effect of actual variances from expected experience (10) 1 — 12 — 3 6 Adjusted beginning of year balance 2,181 1 — 13,538 — 1,060 16,780 Issuances 36 6 — 322 — — 364 Interest accrual 11 — — 106 — 12 129 Net premium collected (57) (7) — (352) — (30) (446) Foreign exchange impact (8) — — 96 — — 88 Other — — — 3 — — 3 Ending balance at original discount rate 2,163 — — 13,713 — 1,042 16,918 Effect of changes in discount rate assumptions (AOCI) (353) — — (1,648) — (48) (2,049) Balance, end of period $ 1,810 $ — $ — $ 12,065 $ — $ 994 $ 14,869 Present value of expected future policy benefits Balance, beginning of year $ 2,380 $ 1,223 $ 211 $ 21,179 $ 12,464 $ 20,429 $ 57,886 Effect of changes in discount rate assumptions (AOCI) 362 167 2 3,424 2,634 1,083 7,672 Beginning balance at original discount rate 2,742 1,390 213 24,603 15,098 21,512 65,558 Effect of changes in cash flow assumptions (a) — — — — — — — Effect of actual variances from expected experience (a) (2) (3) (1) 26 (5) — 15 Adjusted beginning of year balance 2,740 1,387 212 24,629 15,093 21,512 65,573 Issuances 36 70 2 318 1,450 3 1,879 Interest accrual 13 12 3 224 139 257 648 Benefit payments (60) (32) (7) (476) (228) (379) (1,182) Foreign exchange impact (10) — — 277 125 — 392 Other — — — 1 — (3) (2) Ending balance at original discount rate 2,719 1,437 210 24,973 16,579 21,390 67,308 Effect of changes in discount rate assumptions (AOCI) (457) (141) 3 (3,081) (2,302) (492) (6,470) Balance, end of period $ 2,262 $ 1,296 $ 213 $ 21,892 $ 14,277 $ 20,898 $ 60,838 Net liability for future policy benefits, end of period $ 452 $ 1,296 $ 213 $ 9,827 $ 14,277 $ 19,904 $ 45,969 Liability for future policy benefits for certain participating contracts 1,340 Liability for universal life policies with secondary guarantees and similar features (b) 3,512 Deferred profit liability 2,396 Other reconciling items (c) 1,629 Future policy benefits for life and accident and health insurance contracts 54,846 Less: Reinsurance recoverable (24,266) Net liability for future policy benefits after reinsurance recoverable $ 30,580 Weighted average liability duration of the liability for future policy benefits (d) 10.0 7.7 7.1 12.4 11.5 11.6 Three Months Ended March 31, 2022 Individual Group Life Institutional Other (e) Total (in millions, except for liability durations) Present value of expected net premiums Balance, beginning of year $ — $ — $ 14,369 $ — $ 1,274 $ 15,643 Effect of changes in discount rate assumptions (AOCI) — — (706) — (150) (856) Beginning balance at original discount rate — — 13,663 — 1,124 14,787 Effect of changes in cash flow assumptions — — — — — — Effect of actual variances from expected experience — — 29 — 2 31 Adjusted beginning of year balance — — 13,692 — 1,126 14,818 Issuances 4 — 375 — — 379 Interest accrual — — 100 — 13 113 Net premium collected (4) — (355) — (30) (389) Foreign exchange impact — — (140) — — (140) Other — — — — — — Ending balance at original discount rate — — 13,672 — 1,109 14,781 Effect of changes in discount rate assumptions (AOCI) — — (339) — 55 (284) Balance, end of period $ — $ — $ 13,333 $ — $ 1,164 $ 14,497 Present value of expected future policy benefits Balance, beginning of year $ 1,373 $ 264 $ 27,442 $ 13,890 $ 27,674 $ 70,643 Effect of changes in discount rate assumptions (AOCI) (95) (46) (2,717) (870) (5,673) (9,401) Beginning balance at original discount rate 1,278 218 24,725 13,020 22,001 61,242 Effect of changes in cash flow assumptions (a) — — — — — — Effect of actual variances from expected experience (a) 1 (2) 38 (5) (10) 22 Adjusted beginning of year balance 1,279 216 24,763 13,015 21,991 61,264 Issuances 50 5 374 223 3 655 Interest accrual 10 3 221 105 262 601 Benefit payments (28) (8) (523) (198) (382) (1,139) Foreign exchange impact — — (178) (93) — (271) Other — — (1) 1 — — Ending balance at original discount rate 1,311 216 24,656 13,053 21,874 61,110 Effect of changes in discount rate assumptions (AOCI) (24) 25 170 (551) 2,705 2,325 Balance, end of period $ 1,287 $ 241 $ 24,826 $ 12,502 $ 24,579 $ 63,435 Net liability for future policy benefits, end of period $ 1,287 $ 241 $ 11,493 $ 12,502 $ 23,415 $ 48,938 Liability for future policy benefits for certain participating contracts 1,386 Liability for universal life policies with secondary guarantees and similar features (b) 4,223 Deferred profit liability 2,232 Other reconciling items (c) 2,528 Future policy benefits for life and accident and health insurance contracts 59,307 Less: Reinsurance recoverable (29,342) Net liability for future policy benefits after reinsurance recoverable $ 29,965 Weighted average liability duration of the liability for future policy benefits (d) 8.1 7.4 13.6 12.1 12.8 (a) Effect of changes in cash flow assumptions and variances from actual experience are partially offset by changes in the deferred profit liability. (b) Additional details can be found in the table that presents the balances and changes in the liability for universal life policies with secondary guarantees and similar features. (c) Other reconciling items primarily include the Accident and Health as well as Group Benefits (short-duration) contracts. (d) The weighted average liability durations are calculated as the modified duration using projected future net liability cashflows that are aggregated at the segment level, utilizing the segment level weighted average interest rates and current discount rate, which can be found in the table below. (e) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. For the three-month periods ended March 31, 2023 and 2022 in the traditional term life insurance block, capping of net premium ratios at 100 percent causes our reserves to be higher by $7 million and $8 million, respectively. The following table presents the amount of undiscounted expected future benefit payments and expected gross premiums for future policy benefits for nonparticipating contracts: Three Months Ended March 31, (in millions) 2023 2022 General Insurance Expected future benefits and expense $ 3,350 $ 3,318 Expected future gross premiums $ 4,616 $ 4,590 Individual Retirement Expected future benefits and expense $ 2,048 $ 1,757 Expected future gross premiums $ — $ — Group Retirement Expected future benefits and expense $ 317 $ 317 Expected future gross premiums $ — $ — Life Insurance Expected future benefits and expense $ 39,028 $ 38,739 Expected future gross premiums $ 28,964 $ 29,125 Institutional Markets Expected future benefits and expense $ 29,029 $ 20,824 Expected future gross premiums $ — $ — Other* Expected future benefits and expense $ 44,148 $ 45,468 Expected future gross premiums $ 2,225 $ 2,389 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the amount of revenue and interest recognized in the Condensed Consolidated Statements of Income (Loss) for future policy benefits for nonparticipating contracts: Gross Premiums Interest Accretion (in millions) 2023 2022 2023 2022 General Insurance $ 95 $ 97 $ 1 $ 1 Individual Retirement $ 75 $ 51 $ 12 $ 10 Group Retirement 6 8 3 3 Life Insurance 575 582 118 121 Institutional Markets 1,581 244 139 105 Other* 54 56 245 249 Total $ 2,386 $ 1,038 $ 518 $ 489 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the weighted-average interest rate for future policy benefits for nonparticipating contracts: Three Months Ended March 31, 2023 General Individual Group Life Institutional Other* Weighted-average interest rate, original discount rate 1.78 % 3.65 % 5.19 % 4.11 % 3.76 % 4.88 % Weighted-average interest rate, current discount rate 3.64 % 5.33 % 4.91 % 5.08 % 5.04 % 5.10 % Three Months Ended March 31, 2022 Weighted-average interest rate, original discount rate 1.79 % 3.04 % 4.70 % 4.12 % 3.23 % 4.80 % Weighted-average interest rate, current discount rate 2.67 % 3.72 % 3.68 % 3.72 % 3.59 % 3.92 % * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the transition rollforward of the additional liabilities: Individual Group Life Institutional Other (c) Total (in millions) Pre-adoption December 31, 2020 additional liabilities $ 1,423 $ 221 $ 5,117 $ — $ 55 $ 6,816 Adjustment for the reclassification of additional liabilities from Future policy benefits to Market risk benefits (a) (907) (132) — — — (1,039) Adjustment for removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) (b) (516) (89) — — — (605) Post-adoption January 1, 2021 additional liabilities $ — $ — $ 5,117 $ — $ 55 $ 5,172 (a) Adjustments for the reclassification of additional liabilities from Future policy benefits to MRBs represent contract guarantees (e.g., GMDBs) that were previously classified as insurance liabilities within Future policy benefits, but have been reclassified as MRBs as of January 1, 2021. For additional information on the transition impacts associated with LDTI, see Note 13. (b) Adjustments for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) relate to the additional liabilities reclassified from Future policy benefits in the line above. (c) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the balances and changes in the liability for universal life policies with secondary guarantees and similar features: Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 (in millions, except duration of liability) Life Other (c) Total Life Other (c) Total Balance, beginning of year (a) $ 3,300 $ 55 $ 3,355 $ 4,952 $ 55 $ 5,007 Effect of changes in experience 74 (1) 73 108 (1) 107 Adjusted beginning balance 3,374 54 3,428 5,060 54 5,114 Assessments 179 — 179 168 — 168 Excess benefits paid (238) — (238) (290) — (290) Interest accrual 28 1 29 34 1 35 Other (5) — (5) (7) — (7) Changes related to unrealized appreciation (depreciation) of investments 119 — 119 (797) — (797) Balance, end of period 3,457 55 3,512 4,168 55 4,223 Less: Reinsurance recoverable (192) — (192) (198) — (198) Balance, end of period net of Reinsurance recoverable $ 3,265 $ 55 $ 3,320 $ 3,970 $ 55 $ 4,025 Weighted average duration of liability (b) 26.4 9.4 27.1 9.8 (a) Adjustments for the reclassifications between the liability for universal life policies with secondary guarantees and similar features and MRBs can be found in the MRBs transition table. For further detail of reclassifications, see Note 12. (b) The weighted average liability durations are calculated as the modified duration using projected future net liability cashflows that are aggregated at the segment level, utilizing the segment level weighted average interest rates, which can be found in the table below. (c) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the amount of revenue and interest recognized in the Condensed Consolidated Statements of Income (Loss) for the liability for universal life policies with secondary guarantees and similar features: Gross Assessments Interest Accretion (in millions) 2023 2022 2023 2022 Life Insurance $ 299 $ 292 $ 28 $ 34 Other* 10 10 1 1 Total $ 309 $ 302 $ 29 $ 35 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the calculation of weighted average interest rate for the liability for universal life policies with secondary guarantees and similar features: Three Months Ended March 31, 2023 2022 Life Insurance Other* Life Insurance Other* Weighted-average interest rate 3.76 % 4.24 % 3.75 % 4.20 % * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the transition rollforward of URR: Life Institutional Other* Total (in millions) Pre-adoption December 31, 2020 URR balance $ 1,413 $ 2 $ 132 $ 1,547 Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) 248 — — 248 Post adoption January 1, 2021 URR balance $ 1,661 $ 2 $ 132 $ 1,795 * Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. Other policyholder funds, excluding URR, totaled $2.0 billion. The following table presents a rollforward of URR: Three Months Ended March 31, 2023 Life Institutional Other* Total (in millions) Balance, beginning of year $ 1,727 $ 2 $ 105 $ 1,834 Revenue deferred 38 — — 38 Amortization (27) (1) (2) (30) Balance, end of period $ 1,738 $ 1 $ 103 $ 1,842 Three Months Ended March 31, 2022 Life Institutional Other* Total (in millions) Balance, beginning of year $ 1,693 $ 2 $ 116 $ 1,811 Revenue deferred 35 — — 35 Amortization (27) — (3) (30) Balance, end of period $ 1,701 $ 2 $ 113 $ 1,816
Schedule of Details Concerning Universal life Policies with Secondary Guarantees	The following table presents details concerning our universal life policies with secondary guarantees and similar features: Three Months Ended March 31, (dollars in millions) 2023 2022 Account value $ 3,556 $ 3,361 Net amount at risk $ 70,014 $ 66,220 Average attained age of contract holders 53 53
Policyholder Account Balance	The following table presents the transition rollforward of Policyholder contract deposits account balances (a ) : Individual Group Life Institutional Other (b) Total (in millions) Pre-adoption December 31, 2020 Policyholder contract deposits $ 84,874 $ 43,805 $ 10,286 $ 11,559 $ 4,145 $ 154,669 Adjustment for the reclassification of the embedded derivative liability to market risk benefits, net of the host adjustment(s) (5,671) (576) — — — (6,247) Post-adoption January 1, 2021 Policyholder contract deposits $ 79,203 $ 43,229 $ 10,286 $ 11,559 $ 4,145 $ 148,422 (a) Excludes Other Operations of $(199) million. (b) Represents Life and Retirement legacy insurance lines ceded to Fortitude Re. The following table presents the balances and changes in Policyholder contract deposits account balances (a) : Three Months Ended March 31, 2023 Individual Group Life Institutional Other (d) Total (in millions, except for average crediting rate) Policyholder contract deposits account balance, beginning of year $ 89,554 $ 43,395 $ 10,224 $ 11,734 $ 3,587 $ 158,494 Issuances 4,863 1,320 49 586 3 6,821 Deposits received 1 6 365 9 8 389 Policy charges (244) (110) (384) (17) (16) (771) Surrenders and withdrawals (3,171) (2,016) (56) (403) (20) (5,666) Benefit payments (1,036) (557) (49) (167) (88) (1,897) Net transfers from (to) separate account 728 592 (1) 443 — 1,762 Interest credited 377 270 88 105 43 883 Other (2) 3 (16) 4 (1) (12) Policyholder contract deposits account balance, end of period 91,070 42,903 10,220 12,294 3,516 160,003 Other reconciling items (b) (1,889) (279) 116 74 (129) (2,107) Policyholder contract deposits $ 89,181 $ 42,624 $ 10,336 $ 12,368 $ 3,387 $ 157,896 Weighted average crediting rate 2.52 % 2.78 % 4.24 % 3.55 % 4.95 % Cash surrender value (c) $ 84,906 $ 41,361 $ 8,874 $ 2,545 $ 1,781 $ 139,467 Three Months Ended March 31, 2022 Individual Group Life Institutional Other (d) Total (in millions, except for average crediting rate) Policyholder contract deposits account balance, beginning of year $ 84,097 $ 43,902 $ 10,183 $ 10,804 $ 3,823 $ 152,809 Issuances 3,896 1,152 73 82 3 5,206 Deposits received 3 8 369 13 9 402 Policy charges (185) (127) (389) (17) (17) (735) Surrenders and withdrawals (1,994) (1,396) (45) (22) (14) (3,471) Benefit payments (1,017) (544) (69) (72) (89) (1,791) Net transfers from (to) separate account 529 616 — 3 (3) 1,145 Interest credited 500 277 101 61 45 984 Other 2 (1) (31) (7) 6 (31) Policyholder contract deposits account balance, end of period 85,831 43,887 10,192 10,845 3,763 154,518 Other reconciling items (b) (1,859) (330) 24 94 (132) (2,203) Policyholder contract deposits $ 83,972 $ 43,557 $ 10,216 $ 10,939 $ 3,631 $ 152,315 Weighted average crediting rate 2.36 % 2.71 % 4.23 % 2.30 % 4.88 % Cash surrender value (c) $ 80,438 $ 43,193 $ 8,830 $ 2,529 $ 1,861 $ 136,851 (a) Transactions between the general account and the separate account are presented in this table on a gross basis (e.g., a policyholder's funds are initially deposited into the general account and then simultaneously transferred to the separate account), thus, did not impact the ending balance of policyholder contract deposits. (b) Includes MRBs that are bifurcated and reported separately, net of embedded derivatives recorded in Policyholder contract deposits. Other also includes amounts related to Other Operations of $(129) million and $(132) million at March 31, 2023 and 2022, respectively. (c) Cash surrender value is related to the portion of policyholder contract deposits that have a defined cash surrender value (e.g. GICs, do not have a cash surrender value). (d) Primarily represents Life and Retirement legacy insurance lines ceded to Fortitude Re. For information related to net amount at risk, refer to the table that presents the balances of and changes in MRBs in Note 12. The following table presents Policyholder contract deposits account balance by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums: March 31, 2023 At 1 Basis Point - More than 50 Total (in millions, except percentage of total) Individual Retirement Range of Guaranteed Minimum Credited Rate <=1% $ 7,776 $ 2,562 $ 23,263 $ 33,601 > 1% - 2% 3,994 24 2,163 6,181 > 2% - 3% 9,155 1 390 9,546 > 3% - 4% 7,359 40 6 7,405 > 4% - 5% 452 — 4 456 > 5% 32 — 4 36 Total $ 28,768 $ 2,627 $ 25,830 $ 57,225 Group Retirement Range of Guaranteed Minimum Credited Rate <=1% $ 2,063 $ 2,713 $ 6,049 $ 10,825 > 1% - 2% 5,005 908 353 6,266 > 2% - 3% 13,561 40 — 13,601 > 3% - 4% 658 — — 658 > 4% - 5% 6,821 — — 6,821 > 5% 153 — — 153 Total $ 28,261 $ 3,661 $ 6,402 $ 38,324 Life Insurance Range of Guaranteed Minimum Credited Rate <=1% $ — $ — $ — $ — > 1% - 2% — 131 349 480 > 2% - 3% 28 862 1,079 1,969 > 3% - 4% 1,417 118 198 1,733 > 4% - 5% 2,946 — — 2,946 > 5% 222 — — 222 Total $ 4,613 $ 1,111 $ 1,626 $ 7,350 Total* $ 61,642 $ 7,399 $ 33,858 $ 102,899 Percentage of total 60 % 7 % 33 % 100 % March 31, 2022 At 1 Basis Point - More than 50 Total (in millions, except percentage of total) Individual Retirement Range of Guaranteed Minimum Credited Rate <=1% $ 10,456 $ 1,851 $ 18,812 $ 31,119 > 1% - 2% 4,428 28 1,678 6,134 > 2% - 3% 10,184 — 18 10,202 > 3% - 4% 8,045 40 6 8,091 > 4% - 5% 473 — 5 478 > 5% 34 — 4 38 Total $ 33,620 $ 1,919 $ 20,523 $ 56,062 Group Retirement Range of Guaranteed Minimum Credited Rate <=1% $ 3,850 $ 1,684 $ 4,591 $ 10,125 > 1% - 2% 6,316 411 7 6,734 > 2% - 3% 14,648 — — 14,648 > 3% - 4% 702 — — 702 > 4% - 5% 6,955 — — 6,955 > 5% 159 — — 159 Total $ 32,630 $ 2,095 $ 4,598 $ 39,323 Life Insurance Range of Guaranteed Minimum Credited Rate <=1% $ — $ — $ — $ — > 1% - 2% 104 24 355 483 > 2% - 3% 246 540 1,210 1,996 > 3% - 4% 1,388 207 186 1,781 > 4% - 5% 3,052 2 — 3,054 > 5% 228 — — 228 Total $ 5,018 $ 773 $ 1,751 $ 7,542 Total* $ 71,268 $ 4,787 $ 26,872 $ 102,927 Percentage of total 69 % 5 % 26 % 100 %

Market Risk Benefits (Tables)

Market Risk Benefits (Tables)	3 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Market Risk Benefit, Activity	The following table presents the transition rollforward of MRBs: Individual Group Total (in millions) Pre-adoption December 31, 2020 carrying amount for features now classified as MRBs $ — $ — $ — Adjustment for the reclassification of the embedded derivative liability from policyholder contract deposits, net of the host adjustment(s) (a) 5,671 576 6,247 Adjustment for the reclassification of additional liabilities from Future policy benefits (b) 1,388 221 1,609 Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date (c) 2,140 187 2,327 Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) (d) (516) (89) (605) Adjustment for the remaining difference (exclusive of our own credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB (e) (1,084) (93) (1,177) Post adoption January 1, 2021 carrying amount for features now classified as MRBs $ 7,599 $ 802 $ 8,401 (a) Adjustments for the reclassification from Policyholder contract deposits represents certain contract guarantees (e.g., GMWBs) that were previously classified as embedded derivatives, but have been reclassified as MRBs as of January 1, 2021, and the related host impact. The impact on Retained earnings or AOCI resulting from the simultaneous remeasurement of the guarantee as a market risk benefit is reflected in the lines below. (b) Adjustments for the reclassification from Future policy benefits represents contract guarantees (e.g., GMDBs) that were previously classified as insurance liabilities within Future policy benefits, but have been reclassified as MRBs as of January 1, 2021. The impact on Retained earnings or Other comprehensive income resulting from the simultaneous remeasurement of the guarantee as a market risk benefit is reflected in the lines below. (c) Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date are recognized in AOCI. (d) Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses) with an offset to AOCI relate to the additional liabilities reclassified from Future policy benefits in the line above. (e) Adjustment for the remaining difference represents the measurement of MRBs at fair value, excluding the impact of our own credit risk with an offset to Retained earnings. The following is a reconciliation of MRBs by amounts in an asset position and in liability position to the MRB amounts in the Condensed Consolidated Balance Sheets at transition: Individual Group Total (in millions) Market risk benefit in an asset position $ 176 $ — $ 176 Reinsured market risk benefit 162 — 162 Market risk benefit assets, at fair value 338 — 338 Market risk benefit liabilities, at fair value 7,937 802 8,739 Market risk benefit, net, January 1, 2021 $ 7,599 $ 802 $ 8,401 The following table presents the balances of and changes in market risk benefits: Three Months Ended March 31, 2023 Individual Group Total (in millions, except for attained age of contract holders) Balance, beginning of year $ 3,738 $ 296 $ 4,034 Balance, beginning of year, before effect of changes in our own credit risk $ 3,297 $ 272 $ 3,569 Issuances 191 9 200 Interest accrual 38 4 42 Attributed fees 235 17 252 Expected claims (25) (1) (26) Effect of changes in interest rates 478 46 524 Effect of changes in interest rate volatility (73) (4) (77) Effect of changes in equity markets (391) (36) (427) Effect of changes in equity index volatility 16 (3) 13 Actual outcome different from model expected outcome 72 1 73 Effect of changes in future expected policyholder behavior — — — Effect of changes in other future expected assumptions (94) (18) (112) Other, including foreign exchange 1 — 1 Balance, end of period, before effect of changes in our own credit risk 3,745 287 4,032 Effect of changes in our own credit risk 339 32 371 Balance, end of period 4,084 319 4,403 Less: Reinsured MRB, end of period (89) — (89) Net Liability Balance after reinsurance recoverable $ 3,995 $ 319 $ 4,314 Net amount at risk GMDB only $ 1,307 $ 266 $ 1,573 GMWB only $ 63 $ 5 $ 68 Combined* $ 1,726 $ 31 $ 1,757 Weighted average attained age of contract holders 71 64 Three Months Ended March 31, 2022 Individual Group Total (in millions, except for attained age of contract holders) Balance, beginning of year $ 6,452 $ 582 $ 7,034 Balance, beginning of year, before effect of changes in our own credit risk $ 4,518 $ 415 $ 4,933 Issuances 40 5 45 Interest accrual 39 6 45 Attributed fees 197 19 216 Expected claims (13) — (13) Effect of changes in interest rates (1,381) (125) (1,506) Effect of changes in interest rate volatility 172 13 185 Effect of changes in equity markets 387 16 403 Effect of changes in equity index volatility (2) 1 (1) Actual outcome different from model expected outcome 105 16 121 Effect of changes in future expected policyholder behavior — — — Other, including foreign exchange 1 (3) (2) Balance, end of period, before effect of changes in our own credit risk 4,063 363 4,426 Effect of changes in our own credit risk 1,027 82 1,109 Balance, end of period 5,090 445 5,535 Less: Reinsured MRB, end of period (120) — (120) Net Liability Balance after reinsurance recoverable $ 4,970 $ 445 $ 5,415 Net amount at risk GMDB only $ 903 $ 186 $ 1,089 GMWB only $ 264 $ 30 $ 294 Combined* $ 752 $ 16 $ 768 Weighted average attained age of contract holders 70 63 * Certain contracts contain both guaranteed GMDB and GMWB features and are modeled together for the purposes of calculating the MRB. The following is a reconciliation of MRBs by amounts in an asset position and in a liability position to the MRBs amount in the Condensed Consolidated Balance Sheets: March 31, 2023 March 31, 2022 (in millions) Asset* Liability* Net Asset* Liability* Net Individual Retirement $ 685 $ 4,680 $ 3,995 $ 524 $ 5,494 $ 4,970 Group Retirement 145 464 319 142 587 445 Total $ 830 $ 5,144 $ 4,314 $ 666 $ 6,081 $ 5,415 * Cash flows and attributed fees for MRBs are determined on a policy level basis and are reported based on their asset or liability position at the balance sheet date.

Separate Account Assets and L_2

Separate Account Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Fair Value, Separate Account Investment	Account balances of variable annuity contracts were invested in separate account investment options as follows: March 31, 2023 March 31, 2022 (in millions) Individual Group Individual Group Equity Funds $ 23,845 $ 26,433 $ 26,931 $ 30,844 Bond Funds 3,915 3,571 4,401 4,176 Balanced Funds 17,818 5,254 21,402 5,866 Money Market Funds 718 534 604 456 Total $ 46,296 $ 35,792 $ 53,338 $ 41,342
Separate Account, Liability	The following table presents the balances and changes in Separate account liabilities: Three Months Ended March 31, 2023 Individual Group Life Institutional Total (in millions) Balance, beginning of year $ 45,178 $ 34,361 $ 799 $ 4,515 $ 84,853 Premiums and deposits 451 360 9 26 846 Policy charges (344) (110) (12) (24) (490) Surrenders and withdrawals (844) (669) (6) (404) (1,923) Benefit payments (215) (130) (1) (54) (400) Investment performance 2,131 2,186 53 99 4,469 Net transfers from (to) general account 73 (77) (1) 6 1 Other charges — (1) — 2 1 Balance, end of period $ 46,430 $ 35,920 $ 841 $ 4,166 $ 87,357 Cash surrender value* $ 45,388 $ 35,726 $ 794 $ 4,168 $ 86,076 Three Months Ended March 31, 2022 Individual Group Life Institutional Total (in millions) Balance, beginning of year $ 57,927 $ 45,138 $ 1,044 $ 5,002 $ 109,111 Premiums and deposits 758 440 10 30 1,238 Policy charges (321) (127) (13) (25) (486) Surrenders and withdrawals (934) (696) (6) (20) (1,656) Benefit payments (255) (144) (2) (5) (406) Investment performance (3,718) (2,992) (73) (87) (6,870) Net transfers from (to) general account 44 (134) — 8 (82) Other charges (1) 1 — 1 1 Balance, end of period $ 53,500 $ 41,486 $ 960 $ 4,904 $ 100,850 Cash surrender value* $ 52,334 $ 41,263 $ 949 $ 4,898 $ 99,444

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Rollforward of Common Stock Outstanding	The following table presents a rollforward of outstanding shares: Three Months Ended March 31, 2023 Common Treasury Common Stock (in millions) Shares, beginning of year 1,906.7 (1,172.6) 734.1 Shares issued — 4.6 4.6 Shares repurchased — (11.1) (11.1) Shares, end of period 1,906.7 (1,179.1) 727.6
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents a rollforward of Accumulated other comprehensive income (loss): (in millions) Unrealized Unrealized Change in Change in the Foreign Retirement Fair Value of Total Balance, December 31, 2022, net of tax $ (136) $ (20,675) $ (284) $ 2,459 $ (3,056) $ (924) $ — $ (22,616) Change in unrealized appreciation (depreciation) of investments 9 4,996 — — — — — 5,005 Change in other — 106 — — — — — 106 Change in fair value of market risk benefits, net — — 95 — — — — 95 Change in discount rates — — — (527) — — — (527) Change in future policy benefits — (100) — — — — — (100) Change in foreign currency translation adjustments — — — — (19) — — (19) Change in net actuarial loss — — — — — 27 — 27 Change in deferred tax asset (liability) (3) (750) (20) 107 (9) 1 — (674) Total other comprehensive income (loss) 6 4,252 75 (420) (28) 28 — 3,913 Noncontrolling interests 4 706 17 (111) 10 — — 626 Balance, March 31, 2023, net of tax $ (134) $ (17,129) $ (226) $ 2,150 $ (3,094) $ (896) $ — $ (19,329) Balance, December 31, 2021, net of tax $ (48) $ 12,125 $ (1,496) $ (2,167) $ (2,446) $ (903) $ 6 $ 5,071 Change in unrealized appreciation (depreciation) of investments (57) (20,110) — — — — — (20,167) Change in other — 15 — — — — — 15 Change in fair value of market risk benefits, net — — 991 — — — — 991 Change in discount rates — — — 2,883 — — — 2,883 Change in future policy benefits — 795 — — — — — 795 Change in foreign currency translation adjustments — — — — (3) — — (3) Change in net actuarial loss — — — — — 11 — 11 Change in prior service cost — — — — — 1 — 1 Change in deferred tax asset (liability) 12 3,159 (209) (593) (3) (3) — 2,363 Total other comprehensive income (loss) (45) (16,141) 782 2,290 (6) 9 — (13,111) Noncontrolling interests (5) (1,326) 77 222 20 — — (1,012) Balance, March 31, 2022, net of tax $ (88) $ (2,690) $ (791) $ (99) $ (2,472) $ (894) $ 6 $ (7,028)
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments	The following table presents the other comprehensive income (loss) reclassification adjustments for the three-month periods ended March 31, 2023 and 2022 , respectively: (in millions) Unrealized Unrealized Change in fair value of market risk benefits related to our own credit risk Change in the Foreign Retirement Fair Value of Total Three Months Ended March 31, 2023 Unrealized change arising during period $ (7) $ 4,566 $ 95 $ (527) $ (19) $ 18 $ — $ 4,126 Less: Reclassification adjustments included in net income (16) (436) — — — (9) — (461) Total other comprehensive income (loss), before of income tax expense (benefit) 9 5,002 95 (527) (19) 27 — 4,587 Less: Income tax expense (benefit) 3 750 20 (107) 9 (1) — 674 Total other comprehensive income (loss), net of income tax expense (benefit) $ 6 $ 4,252 $ 75 $ (420) $ (28) $ 28 $ — $ 3,913 Three Months Ended March 31, 2022 Unrealized change arising during period $ (57) $ (19,439) $ 991 $ 2,883 $ (3) $ 4 $ — $ (15,621) Less: Reclassification adjustments included in net income — (139) — — — (8) — (147) Total other comprehensive income (loss), before income tax expense (benefit) (57) (19,300) 991 2,883 (3) 12 — (15,474) Less: Income tax expense (benefit) (12) (3,159) 209 593 3 3 — (2,363) Total other comprehensive income (loss), net of income tax expense (benefit) $ (45) $ (16,141) $ 782 $ 2,290 $ (6) $ 9 $ — $ (13,111)
Schedule of Effect of the Reclassification of Significant Items out of Accumulated Other Comprehensive Income on the Respective Line Items in the Consolidated Statements of Income	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) (a) : Amount Reclassified from AOCI Affected Line Item in the Three Months Ended March 31, Condensed Consolidated (in millions) 2023 2022 Statements of Income (Loss) Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken Investments $ (16) $ — Net realized gains (losses) Total (16) — Unrealized appreciation (depreciation) of all other investments Investments (436) (139) Net realized gains (losses) Total (436) (139) Change in retirement plan liabilities adjustment Prior-service credit (1) (1) (b) Actuarial losses (8) (7) (b) Total (9) (8) Total reclassifications for the period $ (461) $ (147) (a) The following items are not reclassified out of AOCI and included in the Condensed Consolidated Statements of Income (Loss) and thus have been excluded from the table: (a) Change in fair value of market risk benefits attributable to changes in our own credit risk (b) Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts, and (c) Fair value of liabilities under fair value option attributable to changes in own credit risk.

Earnings Per Common Share (EP_2

Earnings Per Common Share (EPS) (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table presents the computation of basic and diluted EPS: Three Months Ended March 31, (dollars in millions, except per common share data) 2023 2022 Numerator for EPS: Income (loss) from continuing operations $ (87) $ 4,560 Less: Net income (loss) from continuing operations attributable to noncontrolling interests (117) 387 Less: Preferred stock dividends 7 7 Income (loss) attributable to AIG common shareholders from continuing operations 23 4,166 Income from discontinued operations, net of income tax expense — — Net income (loss) attributable to AIG common shareholders $ 23 $ 4,166 Denominator for EPS: Weighted average common shares outstanding - basic 738,661,428 816,314,273 Dilutive common shares 5,437,758 9,698,337 Weighted average common shares outstanding - diluted (a) 744,099,186 826,012,610 Income (loss) per common share attributable to AIG common shareholders: Basic: Income (loss) from continuing operations $ 0.03 $ 5.10 Income from discontinued operations $ — $ — Income (loss) attributable to AIG common shareholders $ 0.03 $ 5.10 Diluted: Income (loss) from continuing operations $ 0.03 $ 5.04 Income from discontinued operations $ — $ — Income (loss) attributable to AIG common shareholders $ 0.03 $ 5.04 (a) Potential dilutive common shares include our share-based employee compensation plans and an option for Blackstone to exchange all or a portion of its ownership interest in Corebridge for AIG common shares in the event an IPO did not occur prior to 2024. As a result of the consummation of the IPO on September 19, 2022, this exchange right of Blackstone was terminated. The number of potential common shares excluded from diluted shares outstanding was 4.5 million and 39.9 million for the three-month periods ended March 31, 2023 and 2022, 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) $ / shares in Units, $ in Millions				3 Months Ended
	Dec. 14, 2022 USD ($)	Sep. 19, 2022 USD ($) $ / shares shares	Nov. 02, 2021	Mar. 31, 2023 USD ($) country $ / shares	Dec. 31, 2022 $ / shares
Basis of Presentation Information
Number of countries in which the entity operates | country				70
Common stock, par value (in dollars per share) | $ / shares				$ 2.50	$ 2.50
Contributions from noncontrolling interests				$ 16
Parent Company
Basis of Presentation Information
Pre-tax loss on deconsolidation	$ 114
Corebridge Financial Inc
Basis of Presentation Information
Ownership (as a percent)		77.70%		77.30%
Total AIG Shareholders' Equity
Basis of Presentation Information
Contributions from noncontrolling interests		$ 497
Blackstone | Corebridge Financial Inc
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%
IPO | Corebridge Financial Inc
Basis of Presentation Information
Shares issued in IPO (in shares) | shares		80,000,000
Price per share (in USD per share) | $ / shares		$ 21
Percentage of stock sold (as a percent)		12.40%
Gross proceeds from sale of stock		$ 1,700

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Jan. 01, 2021
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity	$ (46,306)	$ (43,454)	$ (58,666)	$ (69,034)	$ (65,935)
Accumulated Other Comprehensive Income (Loss)
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity	19,329	22,616	7,028	(5,071)
Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity	$ (34,690)	$ (34,893)	$ (29,587)	$ (25,695)
Cumulative effect of change in accounting principle | Minimum | ASU 2018-12 | Accumulated Other Comprehensive Income (Loss)
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity					(2,200)
Cumulative effect of change in accounting principle | Minimum | ASU 2018-12 | Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity					$ (933)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Adjusted Balance Sheet to Apply Adopted Guidance (Details) - USD ($) $ in Millions	Mar. 31, 2023		Dec. 31, 2022		Mar. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Assets:
Premiums and other receivables, net of allowance for credit losses and disputes of $175 in 2023 and $169 in 2022	$ 15,523		$ 13,243
Reinsurance assets, net of allowance for credit losses and disputes								$ 3,176
Deferred income taxes	14,480		14,804				$ 12,963
Deferred policy acquisition costs	13,304		12,857				12,955
Market risk benefit assets, at fair value	830		796				338	338
Other assets	12,967	[1]	12,384	[1]			13,520
Total assets	536,627		522,228				598,841
Liabilities:
Future policy benefits for life and accident and health insurance contracts	54,846		51,914		$ 59,307		67,364
Policyholder contract deposits	157,896		155,984		152,315		148,223
Market risk benefit liabilities, at fair value	5,144		4,736				8,739	8,739
Other policyholder funds	3,461		3,463				3,796
Other liabilities	28,595	[1]	26,757	[1]			27,520
Total liabilities	490,321		478,774				532,906
Additional paid-in capital	79,562		79,915
Retained earnings	34,690		34,893				16,437
Accumulated other comprehensive loss	(19,329)		(22,616)				11,314
Total AIG shareholders’ equity	43,317		40,970				65,098
Non-redeemable noncontrolling interests	2,989		2,484
Total equity	46,306		43,454		$ 58,666	$ 69,034	65,935
Total liabilities and equity	536,627		522,228				598,841
Fortitude RE
Assets:
Reinsurance assets, net of allowance for credit losses and disputes	31,149		30,751				42,244	36,801
Excluding Fortitude
Assets:
Reinsurance assets, net of allowance for credit losses and disputes	$ 41,706		38,971				39,432	36,300
As Previously Reported
Assets:
Reinsurance assets, net of allowance for credit losses and disputes								2,707
Deferred income taxes			15,144				12,624
Deferred policy acquisition costs			15,518				9,805
Market risk benefit assets, at fair value			0				0
Other assets			12,714				13,122
Total assets			526,634				586,481
Liabilities:
Future policy benefits for life and accident and health insurance contracts			59,223				56,878
Policyholder contract deposits			158,891				154,470
Market risk benefit liabilities, at fair value			0				0
Other policyholder funds			3,909				3,548
Other liabilities			26,456				27,122
Total liabilities			484,399				519,282
Additional paid-in capital			80,284
Retained earnings			33,032				15,504
Accumulated other comprehensive loss			(22,092)				13,511
Total AIG shareholders’ equity			40,002				66,362
Non-redeemable noncontrolling interests			2,233
Total equity			42,235				67,199
Total liabilities and equity			526,634				586,481
As Previously Reported | Fortitude RE
Assets:
Reinsurance assets, net of allowance for credit losses and disputes			32,159				34,578	$ 29,135
As Previously Reported | Excluding Fortitude
Assets:
Reinsurance assets, net of allowance for credit losses and disputes			39,434				38,963
Cumulative effect adjustments
Assets:
Deferred income taxes			(340)				339
Deferred policy acquisition costs			(2,661)				3,150
Market risk benefit assets, at fair value			796				338
Other assets			(330)				398
Total assets			(4,406)				12,360
Liabilities:
Future policy benefits for life and accident and health insurance contracts			(7,309)				10,486
Policyholder contract deposits			(2,907)				(6,247)
Market risk benefit liabilities, at fair value			4,736				8,739
Other policyholder funds			(446)				248
Other liabilities			301				398
Total liabilities			(5,625)				13,624
Additional paid-in capital			(369)
Retained earnings			1,861				933
Accumulated other comprehensive loss			(524)				(2,197)
Total AIG shareholders’ equity			968				(1,264)
Non-redeemable noncontrolling interests			251
Total equity			1,219				(1,264)
Total liabilities and equity			(4,406)				12,360
Cumulative effect adjustments | Fortitude RE
Assets:
Reinsurance assets, net of allowance for credit losses and disputes			(1,408)				7,666
Cumulative effect adjustments | Excluding Fortitude
Assets:
Reinsurance assets, net of allowance for credit losses and disputes			$ (463)				$ 469
[1]See Note 9 for details of balances associated with variable interest entities.

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Adjusted Income Statement and Comprehensive Income to Apply Adopted Guidance (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Premiums	$ 8,481	$ 7,120
Policy fees	698	730
Total net realized gains (losses)	(1,909)	3,579
Total revenues	10,984	14,944
Policyholder benefits and losses incurred	6,397	5,060
Change in the fair value of market risk benefits, net	196	(233)
Interest credited to policyholder account balances	1,040	879
Amortization of deferred policy acquisition costs	1,293	1,137
General operating and other expenses	1,980	2,164
Total benefits, losses and expenses	11,215	9,230
Income (loss) from continuing operations before income tax expense (benefit)	(231)	5,714
Income tax expense (benefit)	(144)	1,154
Income (loss) from continuing operations	(87)	4,560
Net income (loss)	(87)	4,560
Net income (loss) from continuing operations attributable to noncontrolling interests	(117)	387
Net income (loss) attributable to AIG	30	4,173
Net income (loss) attributable to AIG common shareholders	$ 23	$ 4,166
Income (loss) attributable to AIG common shareholders (in dollars per share)	$ 0.03	$ 5.10
Net income attributable to AIG common shareholders (in dollars per share)	$ 0.03	$ 5.04
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (87)	$ 4,560
Change in unrealized appreciation (depreciation) of all other investments	4,252	(16,141)
Change in fair value of market risk benefits related to our own credit risk	75	782
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts	(420)	2,290
Other comprehensive income (loss)	3,913	(13,111)
Comprehensive income (loss)	3,826	(8,551)
Comprehensive income (loss) attributable to noncontrolling interests	509	(625)
Comprehensive income (loss) attributable to AIG	$ 3,317	(7,926)
As Previously Reported
Income Statement [Abstract]
Premiums		7,110
Policy fees		764
Total net realized gains (losses)		4,419
Total revenues		15,808
Policyholder benefits and losses incurred		5,255
Change in the fair value of market risk benefits, net		0
Interest credited to policyholder account balances		877
Amortization of deferred policy acquisition costs		1,437
General operating and other expenses		2,181
Total benefits, losses and expenses		9,973
Income (loss) from continuing operations before income tax expense (benefit)		5,835
Income tax expense (benefit)		1,179
Income (loss) from continuing operations		4,656
Net income (loss)		4,656
Net income (loss) from continuing operations attributable to noncontrolling interests		396
Net income (loss) attributable to AIG		4,260
Net income (loss) attributable to AIG common shareholders		$ 4,253
Income (loss) attributable to AIG common shareholders (in dollars per share)		$ 5.21
Net income attributable to AIG common shareholders (in dollars per share)		$ 5.15
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 4,656
Change in unrealized appreciation (depreciation) of all other investments		(13,607)
Change in fair value of market risk benefits related to our own credit risk		0
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts		0
Other comprehensive income (loss)		(13,648)
Comprehensive income (loss)		(8,992)
Comprehensive income (loss) attributable to noncontrolling interests		(665)
Comprehensive income (loss) attributable to AIG		(8,327)
Effect of Change
Income Statement [Abstract]
Premiums		10
Policy fees		(34)
Total net realized gains (losses)		(840)
Total revenues		(864)
Policyholder benefits and losses incurred		(195)
Change in the fair value of market risk benefits, net		(233)
Interest credited to policyholder account balances		2
Amortization of deferred policy acquisition costs		(300)
General operating and other expenses		(17)
Total benefits, losses and expenses		(743)
Income (loss) from continuing operations before income tax expense (benefit)		(121)
Income tax expense (benefit)		(25)
Income (loss) from continuing operations		(96)
Net income (loss)		(96)
Net income (loss) from continuing operations attributable to noncontrolling interests		(9)
Net income (loss) attributable to AIG		(87)
Net income (loss) attributable to AIG common shareholders		$ (87)
Income (loss) attributable to AIG common shareholders (in dollars per share)		$ (0.11)
Net income attributable to AIG common shareholders (in dollars per share)		$ (0.11)
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ (96)
Change in unrealized appreciation (depreciation) of all other investments		(2,534)
Change in fair value of market risk benefits related to our own credit risk		782
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts		2,290
Other comprehensive income (loss)		537
Comprehensive income (loss)		441
Comprehensive income (loss) attributable to noncontrolling interests		40
Comprehensive income (loss) attributable to AIG		$ 401

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Adjusted Cash Flows to Apply Adopted Guidance (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income (loss)	$ (87)	$ 4,560
Noncash revenues, expenses, gains and losses included in income (loss):
Unrealized gains in earnings - net	(112)	(873)
Change in the fair value of market risk benefits in earnings, net	316	(496)
Depreciation and other amortization	1,186	1,134
Changes in operating assets and liabilities:
Insurance reserves	3,015	1,256
Premiums and other receivables and payables - net	641	(4,166)
Reinsurance assets, net	(2,561)	(807)
Capitalization of deferred policy acquisition costs	(1,689)	(1,402)
Current and deferred income taxes - net	(200)	1,098
Other, net	(463)	(299)
Total adjustments	584	(4,521)
Net cash provided by operating activities	497	39
Cash flows from financing activities:
Policyholder contract deposits	8,226	6,410
Policyholder contract withdrawals	(6,468)	(4,802)
Net cash provided by (used in) financing activities	$ 817	(577)
As Previously Reported
Cash flows from operating activities:
Net income (loss)		4,656
Noncash revenues, expenses, gains and losses included in income (loss):
Unrealized gains in earnings - net		(2,006)
Change in the fair value of market risk benefits in earnings, net		0
Depreciation and other amortization		1,447
Changes in operating assets and liabilities:
Insurance reserves		1,734
Premiums and other receivables and payables - net		(4,164)
Reinsurance assets, net		(1,223)
Capitalization of deferred policy acquisition costs		(1,386)
Current and deferred income taxes - net		1,123
Other, net		(158)
Total adjustments		(4,599)
Net cash provided by operating activities		57
Cash flows from financing activities:
Policyholder contract deposits		6,392
Net cash provided by (used in) financing activities		(595)
Effect of Change
Cash flows from operating activities:
Net income (loss)		(96)
Noncash revenues, expenses, gains and losses included in income (loss):
Unrealized gains in earnings - net		1,133
Change in the fair value of market risk benefits in earnings, net		(496)
Depreciation and other amortization		(313)
Changes in operating assets and liabilities:
Insurance reserves		(478)
Premiums and other receivables and payables - net		(2)
Reinsurance assets, net		416
Capitalization of deferred policy acquisition costs		(16)
Current and deferred income taxes - net		(25)
Other, net		(141)
Total adjustments		78
Net cash provided by operating activities		(18)
Cash flows from financing activities:
Policyholder contract deposits		18
Net cash provided by (used in) financing activities		$ 18

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 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
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenues	$ 10,984	$ 14,944
Adjusted Pre-tax Income (Loss)	(231)	5,714
Net Investment Income	3,533	3,237
Interest expense	307	263
Amortization of deferred policy acquisition costs	1,293	1,137
Changes in fair value of securities used to hedge guaranteed living benefits, Adjusted Revenues	13	14
Changes in fair value of securities used to hedge guaranteed living benefits	(3)	13
Change in the fair value of market risk benefits, net	(196)	233
Changes in benefit reserves related to net realized gains (losses)	6	2
Changes in the fair value of equity securities	51	(27)
Other income (expense) - net	(7)	(7)
Net realized gains (losses)	(1,909)	3,579
Net realized gains, adjusted revenues	(772)	341
Net realized gains, adjusted pre-tax income (loss)	(766)	349
Net gain (loss) on divestitures and other	(2)	40
Non-operating litigation reserves and settlements, adjustment to revenue	1	34
Non-operating litigation reserves and settlements, pre-tax income (loss)	1	34
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	19	0
Net loss reserve discount charge	(64)	20
Integration and transaction costs associated with acquiring or divesting businesses	(52)	(46)
Restructuring and other costs	(117)	(93)
Non-recurring costs related to regulatory or accounting changes	(13)	(4)
Net impact from elimination of international reporting lag, adjusted revenues	4
Net impact from elimination of international reporting lag, adjusted pre-tax income (loss)	12
Fortitude Re funds withheld assets
Segment Reporting Information [Line Items]
Net Investment Income	446	291
Net realized gains (losses)	(31)	(140)
Fortitude Re funds withheld embedded derivative
Segment Reporting Information [Line Items]
Net realized gains (losses)	(1,165)	3,318
Total
Segment Reporting Information [Line Items]
Revenues	12,444	11,120
Adjusted Pre-tax Income (Loss)	1,643	1,724
Corporate Reconciling Items And Eliminations
Segment Reporting Information [Line Items]
Revenues	68	158
Adjusted Pre-tax Income (Loss)	(491)	(421)
Other Operations before consolidation and eliminations
Segment Reporting Information [Line Items]
Revenues	132	294
Adjusted Pre-tax Income (Loss)	(434)	(288)
Consolidation and eliminations
Segment Reporting Information [Line Items]
Revenues	(64)	(136)
Adjusted Pre-tax Income (Loss)	(57)	(133)
General Insurance | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	7,005	7,021
Adjusted Pre-tax Income (Loss)	1,248	1,211
General Insurance | Reportable Segments | North America
Segment Reporting Information [Line Items]
Revenues	2,980	2,789
Adjusted Pre-tax Income (Loss)	299	256
General Insurance | Reportable Segments | International
Segment Reporting Information [Line Items]
Revenues	3,279	3,467
Adjusted Pre-tax Income (Loss)	203	190
General Insurance | Reportable Segments | Net investment income
Segment Reporting Information [Line Items]
Revenues	746	765
Adjusted Pre-tax Income (Loss)	746	765
Life and Retirement | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	5,371	3,941
Adjusted Pre-tax Income (Loss)	886	934
Life and Retirement | Reportable Segments | Individual Retirement
Segment Reporting Information [Line Items]
Revenues	1,484	1,347
Adjusted Pre-tax Income (Loss)	533	466
Life and Retirement | Reportable Segments | Group Retirement
Segment Reporting Information [Line Items]
Revenues	683	734
Adjusted Pre-tax Income (Loss)	187	241
Life and Retirement | Reportable Segments | Life Insurance
Segment Reporting Information [Line Items]
Revenues	1,249	1,311
Adjusted Pre-tax Income (Loss)	82	113
Life and Retirement | Reportable Segments | Institutional Markets
Segment Reporting Information [Line Items]
Revenues	1,955	549
Adjusted Pre-tax Income (Loss)	$ 84	$ 114

Segment Information - Schedul_2

Segment Information - Schedule of Identifiable assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Jan. 01, 2021
Segment Reporting Information [Line Items]
Total assets	$ 536,627	$ 522,228	$ 598,841

Segment Information - Schedul_3

Segment Information - Schedule of Revenues and Other Assets by Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting [Abstract]
Revenues	$ 10,984	$ 14,944

Fair Value Measurements - Asset

Fair Value Measurements - Assets and liabilities measured at fair value on a recurring basis (Details) - USD ($)		Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Jan. 01, 2021	Dec. 31, 2020
Assets:
Bonds available for sale	[1]	$ 229,397,000,000	$ 226,156,000,000
Other bond securities, at fair value (See Note 5)	[1]	4,762,000,000	4,485,000,000
Equity securities	[1]	591,000,000	575,000,000
Derivative assets		4,791,000,000	6,049,000,000
Counterparty netting		(2,382,000,000)	(3,895,000,000)
Cash Collateral		(1,793,000,000)	(1,640,000,000)
Total derivative assets		616,000,000	514,000,000
Short-term investments	[1]	13,253,000,000	12,376,000,000
Market risk benefit assets, at fair value		830,000,000	796,000,000		$ 338,000,000	$ 338,000,000
Separate account assets		87,357,000,000	84,853,000,000
Liabilities:
Policyholder contract deposits		157,896,000,000	155,984,000,000	$ 152,315,000,000	148,223,000,000
Market risk benefit liabilities, at fair value		5,144,000,000	4,736,000,000		$ 8,739,000,000	$ 8,739,000,000
Derivative liabilities		3,948,000,000	6,043,000,000
Counterparty netting		(2,382,000,000)	(3,895,000,000)
Cash Collateral		$ (1,311,000,000)	$ (1,917,000,000)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other liabilities	Other liabilities
Total derivative liabilities		$ 255,000,000	$ 231,000,000
Fortitude Re funds withheld payable		(30,368,000,000)	(30,383,000,000)
U.S. government and government sponsored entities
Assets:
Bonds available for sale		5,755,000,000	6,619,000,000
Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		11,648,000,000	12,099,000,000
Non-U.S. governments
Assets:
Bonds available for sale		13,432,000,000	13,485,000,000
Corporate debt
Assets:
Bonds available for sale		138,571,000,000	137,839,000,000
RMBS
Assets:
Bonds available for sale		19,603,000,000	18,817,000,000
CMBS
Assets:
Bonds available for sale		14,874,000,000	14,193,000,000
CLO/ABS
Assets:
Bonds available for sale		25,514,000,000	23,104,000,000
Level 3 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		849,000,000	799,000,000
Level 3 | Corporate debt
Assets:
Bonds available for sale		2,034,000,000	2,527,000,000
Level 3 | RMBS
Assets:
Bonds available for sale		5,035,000,000	5,235,000,000
Level 3 | CMBS
Assets:
Bonds available for sale		605,000,000	587,000,000
Fair Value Measured at Net Asset Value Per Share
Liabilities:
Fair Value Using NAV Per Share (or its equivalent)		9,900,000,000	9,800,000,000
Recurring Basis
Assets:
Counterparty netting		(2,382,000,000)	(3,895,000,000)
Cash Collateral		(1,793,000,000)	(1,640,000,000)
Counterparty netting and cash collateral		(4,175,000,000)	(5,535,000,000)
Total derivative assets		616,000,000	514,000,000
Short-term investments		6,866,000,000	5,708,000,000
Market risk benefit assets, at fair value		830,000,000	796,000,000
Liabilities:
Policyholder contract deposits		6,109,000,000	5,408,000,000
Market risk benefit liabilities, at fair value		5,144,000,000	4,736,000,000
Counterparty netting		(2,382,000,000)	(3,895,000,000)
Cash Collateral		(1,311,000,000)	(1,917,000,000)
Counterparty netting and cash collateral		(3,693,000,000)	(5,812,000,000)
Total derivative liabilities		255,000,000	231,000,000
Fortitude Re funds withheld payable		(1,863,000,000)	(2,235,000,000)
Other liabilities		367,000,000	343,000,000
Long-term debt		72,000,000	56,000,000
Recurring Basis | Levels 1, 2 and 3
Assets:
Bonds available for sale		229,397,000,000	226,156,000,000
Other bond securities, at fair value (See Note 5)		4,762,000,000	4,485,000,000
Equity securities		591,000,000	575,000,000
Other invested assets		2,255,000,000	2,220,000,000
Short-term investments		6,866,000,000	5,708,000,000
Other assets		110,000,000	107,000,000
Separate account assets		87,357,000,000	84,853,000,000
Total		331,954,000,000	324,618,000,000
Liabilities:
Policyholder contract deposits		6,109,000,000	5,408,000,000
Fortitude Re funds withheld payable		(1,863,000,000)
Fortitude Re funds withheld payable			(2,235,000,000)
Other liabilities		112,000,000	112,000,000
Long-term debt		72,000,000	56,000,000
Total		9,829,000,000	8,308,000,000
Recurring Basis | Levels 1, 2 and 3 | Interest rate contracts
Assets:
Derivative assets		2,402,000,000	3,722,000,000
Liabilities:
Derivative liabilities		3,045,000,000	4,838,000,000
Recurring Basis | Levels 1, 2 and 3 | Foreign exchange contracts
Assets:
Derivative assets		1,652,000,000	1,844,000,000
Liabilities:
Derivative liabilities		803,000,000	1,138,000,000
Recurring Basis | Levels 1, 2 and 3 | Equity contracts
Assets:
Derivative assets		683,000,000	428,000,000
Liabilities:
Derivative liabilities		60,000,000	26,000,000
Recurring Basis | Levels 1, 2 and 3 | Commodity contracts
Assets:
Derivative assets		7,000,000	9,000,000
Recurring Basis | Levels 1, 2 and 3 | Credit contracts
Assets:
Derivative assets		33,000,000	32,000,000
Liabilities:
Derivative liabilities		40,000,000	41,000,000
Recurring Basis | Levels 1, 2 and 3 | Other contracts
Assets:
Derivative assets		14,000,000	14,000,000
Recurring Basis | Levels 1, 2 and 3 | U.S. government and government sponsored entities
Assets:
Bonds available for sale		5,755,000,000	6,619,000,000
Other bond securities, at fair value (See Note 5)		1,000,000
Recurring Basis | Levels 1, 2 and 3 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		11,648,000,000	12,099,000,000
Other bond securities, at fair value (See Note 5)		140,000,000	111,000,000
Recurring Basis | Levels 1, 2 and 3 | Non-U.S. governments
Assets:
Bonds available for sale		13,432,000,000	13,485,000,000
Other bond securities, at fair value (See Note 5)		60,000,000	66,000,000
Recurring Basis | Levels 1, 2 and 3 | Corporate debt
Assets:
Bonds available for sale		138,571,000,000	137,839,000,000
Other bond securities, at fair value (See Note 5)		2,546,000,000	2,392,000,000
Recurring Basis | Levels 1, 2 and 3 | RMBS
Assets:
Bonds available for sale		19,603,000,000	18,817,000,000
Other bond securities, at fair value (See Note 5)		273,000,000	286,000,000
Recurring Basis | Levels 1, 2 and 3 | CMBS
Assets:
Bonds available for sale		14,874,000,000	14,193,000,000
Other bond securities, at fair value (See Note 5)		317,000,000	331,000,000
Recurring Basis | Levels 1, 2 and 3 | CLO/ABS
Assets:
Bonds available for sale		25,514,000,000	23,104,000,000
Other bond securities, at fair value (See Note 5)		1,425,000,000	1,299,000,000
Recurring Basis | Level 1
Assets:
Bonds available for sale		413,000,000	183,000,000
Other bond securities, at fair value (See Note 5)		0	0
Equity securities		501,000,000	518,000,000
Other invested assets		0	0
Derivative assets		26,000,000	12,000,000
Short-term investments		2,484,000,000	2,821,000,000
Market risk benefit assets, at fair value		0	0
Other assets		0	0
Separate account assets		84,202,000,000	81,655,000,000
Total		87,626,000,000	85,189,000,000
Liabilities:
Policyholder contract deposits		0	0
Market risk benefit liabilities, at fair value		0	0
Derivative liabilities		36,000,000	2,000,000
Fortitude Re funds withheld payable		0
Fortitude Re funds withheld payable			0
Other liabilities		0	0
Long-term debt		0	0
Total		36,000,000	2,000,000
Recurring Basis | Level 1 | Interest rate contracts
Assets:
Derivative assets		0	1,000,000
Liabilities:
Derivative liabilities		0	0
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		26,000,000	11,000,000
Liabilities:
Derivative liabilities		36,000,000	2,000,000
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		219,000,000	25,000,000
Other bond securities, at fair value (See Note 5)		0
Recurring Basis | Level 1 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		0	0
Other bond securities, at fair value (See Note 5)		0	0
Recurring Basis | Level 1 | Non-U.S. governments
Assets:
Bonds available for sale		194,000,000	158,000,000
Other bond securities, at fair value (See Note 5)		0	0
Recurring Basis | Level 1 | Corporate debt
Assets:
Bonds available for sale		0	0
Other bond securities, at fair value (See Note 5)		0	0
Recurring Basis | Level 1 | RMBS
Assets:
Bonds available for sale		0	0
Other bond securities, at fair value (See Note 5)		0	0
Recurring Basis | Level 1 | CMBS
Assets:
Bonds available for sale		0	0
Other bond securities, at fair value (See Note 5)		0	0
Recurring Basis | Level 1 | CLO/ABS
Assets:
Bonds available for sale		0	0
Other bond securities, at fair value (See Note 5)		0	0
Recurring Basis | Level 2
Assets:
Bonds available for sale		203,262,000,000	201,074,000,000
Other bond securities, at fair value (See Note 5)		3,428,000,000	2,958,000,000
Equity securities		16,000,000	18,000,000
Other invested assets		169,000,000	145,000,000
Derivative assets		3,845,000,000	5,395,000,000
Short-term investments		4,382,000,000	2,887,000,000
Market risk benefit assets, at fair value		0	0
Other assets		0	0
Separate account assets		3,155,000,000	3,198,000,000
Total		218,257,000,000	215,675,000,000
Liabilities:
Policyholder contract deposits		45,000,000	41,000,000
Market risk benefit liabilities, at fair value		0	0
Derivative liabilities		3,864,000,000	5,995,000,000
Fortitude Re funds withheld payable		0
Fortitude Re funds withheld payable			0
Other liabilities		0	0
Long-term debt		72,000,000	56,000,000
Total		3,981,000,000	6,092,000,000
Recurring Basis | Level 2 | Interest rate contracts
Assets:
Derivative assets		2,046,000,000	3,410,000,000
Liabilities:
Derivative liabilities		3,045,000,000	4,838,000,000
Recurring Basis | Level 2 | Foreign exchange contracts
Assets:
Derivative assets		1,651,000,000	1,844,000,000
Liabilities:
Derivative liabilities		802,000,000	1,138,000,000
Recurring Basis | Level 2 | Equity contracts
Assets:
Derivative assets		141,000,000	132,000,000
Liabilities:
Derivative liabilities		10,000,000	10,000,000
Recurring Basis | Level 2 | Commodity contracts
Assets:
Derivative assets		7,000,000	9,000,000
Recurring Basis | Level 2 | Credit contracts
Assets:
Derivative assets		0	0
Liabilities:
Derivative liabilities		7,000,000	9,000,000
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		5,536,000,000	6,594,000,000
Other bond securities, at fair value (See Note 5)		1,000,000
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		10,775,000,000	11,275,000,000
Other bond securities, at fair value (See Note 5)		139,000,000	111,000,000
Recurring Basis | Level 2 | Non-U.S. governments
Assets:
Bonds available for sale		13,229,000,000	13,326,000,000
Other bond securities, at fair value (See Note 5)		60,000,000	66,000,000
Recurring Basis | Level 2 | Corporate debt
Assets:
Bonds available for sale		136,139,000,000	134,992,000,000
Other bond securities, at fair value (See Note 5)		2,416,000,000	1,976,000,000
Recurring Basis | Level 2 | RMBS
Assets:
Bonds available for sale		12,022,000,000	11,264,000,000
Other bond securities, at fair value (See Note 5)		107,000,000	113,000,000
Recurring Basis | Level 2 | CMBS
Assets:
Bonds available for sale		13,936,000,000	13,267,000,000
Other bond securities, at fair value (See Note 5)		290,000,000	303,000,000
Recurring Basis | Level 2 | CLO/ABS
Assets:
Bonds available for sale		11,625,000,000	10,356,000,000
Other bond securities, at fair value (See Note 5)		415,000,000	389,000,000
Recurring Basis | Level 3
Assets:
Bonds available for sale		25,722,000,000	24,899,000,000
Other bond securities, at fair value (See Note 5)		1,334,000,000	1,527,000,000
Equity securities		74,000,000	39,000,000
Other invested assets		2,086,000,000	2,075,000,000
Derivative assets		920,000,000	642,000,000
Short-term investments		0	0
Market risk benefit assets, at fair value		830,000,000	796,000,000	666,000,000
Other assets		110,000,000	107,000,000
Separate account assets		0	0
Total		30,246,000,000	29,289,000,000
Liabilities:
Policyholder contract deposits		6,064,000,000	5,367,000,000
Market risk benefit liabilities, at fair value		5,144,000,000	4,736,000,000	$ 6,100,000,000
Derivative liabilities		48,000,000	46,000,000
Fortitude Re funds withheld payable		(1,863,000,000)
Fortitude Re funds withheld payable			(2,235,000,000)
Other liabilities		112,000,000	112,000,000
Long-term debt		0	0
Total		9,505,000,000	8,026,000,000
Recurring Basis | Level 3 | Interest rate contracts
Assets:
Derivative assets		356,000,000	311,000,000
Liabilities:
Derivative liabilities		0	0
Recurring Basis | Level 3 | Foreign exchange contracts
Assets:
Derivative assets		1,000,000	0
Liabilities:
Derivative liabilities		1,000,000	0
Recurring Basis | Level 3 | Equity contracts
Assets:
Derivative assets		516,000,000	285,000,000
Liabilities:
Derivative liabilities		14,000,000	14,000,000
Recurring Basis | Level 3 | Commodity contracts
Assets:
Derivative assets		0	0
Recurring Basis | Level 3 | Credit contracts
Assets:
Derivative assets		33,000,000	32,000,000
Liabilities:
Derivative liabilities		33,000,000	32,000,000
Recurring Basis | Level 3 | Other contracts
Assets:
Derivative assets		14,000,000	14,000,000
Recurring Basis | Level 3 | U.S. government and government sponsored entities
Assets:
Bonds available for sale		0	0
Other bond securities, at fair value (See Note 5)		0
Recurring Basis | Level 3 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		873,000,000	824,000,000
Other bond securities, at fair value (See Note 5)		1,000,000	0
Recurring Basis | Level 3 | Non-U.S. governments
Assets:
Bonds available for sale		9,000,000	1,000,000
Other bond securities, at fair value (See Note 5)		0	0
Recurring Basis | Level 3 | Corporate debt
Assets:
Bonds available for sale		2,432,000,000	2,847,000,000
Other bond securities, at fair value (See Note 5)		130,000,000	416,000,000
Recurring Basis | Level 3 | RMBS
Assets:
Bonds available for sale		7,581,000,000	7,553,000,000
Other bond securities, at fair value (See Note 5)		166,000,000	173,000,000
Recurring Basis | Level 3 | CMBS
Assets:
Bonds available for sale		938,000,000	926,000,000
Other bond securities, at fair value (See Note 5)		27,000,000	28,000,000
Recurring Basis | Level 3 | CLO/ABS
Assets:
Bonds available for sale		13,889,000,000	12,748,000,000
Other bond securities, at fair value (See Note 5)		$ 1,010,000,000	$ 910,000,000
[1]See Note 9 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
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 01, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	$ 28,647	$ 31,627
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	55	136
Other Comprehensive Income (Loss)	309	(1,485)
Purchases, Sales, Issuances and Settlements, Net	642	346
Gross Transfers In	382	1,411
Gross Transfers Out	(769)	(1,622)
Other	60	0
Fair Value End of Period	29,326	30,413
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(27)	(50)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	$ 191	$ (1,451)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss)	Other comprehensive income (loss)
Gross Transfers Out	$ 0
Market risk benefit assets, at fair value	830		$ 796	$ 338	$ 338
Recurring Basis
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Market risk benefit assets, at fair value	830		796
Level 3 | Recurring Basis
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Market risk benefit assets, at fair value	$ 830	$ 666	$ 796
Net realized gains/(losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total net realized gains (losses)	Total net realized gains (losses)
Bonds available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	$ 24,899	$ 26,862
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	66	145
Other Comprehensive Income (Loss)	304	(1,479)
Purchases, Sales, Issuances and Settlements, Net	643	85
Gross Transfers In	373	1,246
Gross Transfers Out	(571)	(1,455)
Other	8	0
Fair Value End of Period	25,722	25,404
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	191	(1,451)
Bonds available for sale | Net realized gains/(losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	4	(19)
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	824	1,431
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	1	2
Other Comprehensive Income (Loss)	55	(285)
Purchases, Sales, Issuances and Settlements, Net	(7)	(61)
Gross Transfers In	0	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	873	1,087
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	44	(273)
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	1	7
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	1	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	0	0
Gross Transfers In	7	1
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	9	8
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	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
Bonds available for sale | Corporate debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	2,847	2,641
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(102)	(11)
Other Comprehensive Income (Loss)	51	(73)
Purchases, Sales, Issuances and Settlements, Net	(201)	177
Gross Transfers In	274	130
Gross Transfers Out	(421)	(120)
Other	(16)	0
Fair Value End of Period	2,432	2,744
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	50	(69)
Bonds available for sale | RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	7,553	10,378
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	109	130
Other Comprehensive Income (Loss)	(70)	(553)
Purchases, Sales, Issuances and Settlements, Net	10	(608)
Gross Transfers In	0	0
Gross Transfers Out	(21)	(422)
Other	0	0
Fair Value End of Period	7,581	8,925
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(98)	(544)
Bonds available for sale | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	926	1,190
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	7	8
Other Comprehensive Income (Loss)	(3)	(67)
Purchases, Sales, Issuances and Settlements, Net	1	32
Gross Transfers In	34	0
Gross Transfers Out	(27)	(299)
Other	0	0
Fair Value End of Period	938	864
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(34)	(64)
Bonds available for sale | CLO/ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	12,748	11,215
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	50	16
Other Comprehensive Income (Loss)	271	(501)
Purchases, Sales, Issuances and Settlements, Net	840	545
Gross Transfers In	58	1,115
Gross Transfers Out	(102)	(614)
Other	24	0
Fair Value End of Period	13,889	11,776
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	229	(501)
Other bond securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	1,527	2,697
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	41	(121)
Other Comprehensive Income (Loss)	0	(1)
Purchases, Sales, Issuances and Settlements, Net	(89)	281
Gross Transfers In	1	118
Gross Transfers Out	(198)	(14)
Other	52	0
Fair Value End of Period	1,334	2,960
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	23	(171)
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 | Net realized gains/(losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other bond securities | 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	0
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	0
Other Comprehensive Income (Loss)	0
Purchases, Sales, Issuances and Settlements, Net	1
Gross Transfers In	0
Gross Transfers Out	0
Other	0
Fair Value End of Period	1
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0
Other bond securities | Corporate debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	416	134
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	1	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	(96)	77
Gross Transfers In	0	61
Gross Transfers Out	(191)	(12)
Other	0	0
Fair Value End of Period	130	260
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	3	0
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	173	196
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	5	(5)
Other Comprehensive Income (Loss)	0	(1)
Purchases, Sales, Issuances and Settlements, Net	(12)	9
Gross Transfers In	0	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	166	199
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(3)	(8)
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 | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	28	35
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(1)	(2)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	0	0
Gross Transfers In	0	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	27	33
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(1)	(2)
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 | CLO/ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	910	2,332
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	36	(114)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	18	195
Gross Transfers In	1	57
Gross Transfers Out	(7)	(2)
Other	52	0
Fair Value End of Period	1,010	2,468
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	24	(161)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	39	6
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	(1)
Purchases, Sales, Issuances and Settlements, Net	27	1
Gross Transfers In	8	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	74	6
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	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
Other invested assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	2,075	1,948
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(52)	112
Other Comprehensive Income (Loss)	5	(4)
Purchases, Sales, Issuances and Settlements, Net	58	(15)
Gross Transfers In	0	47
Gross Transfers Out	0	(153)
Other	0	0
Fair Value End of Period	2,086	1,935
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(50)	121
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0
Other invested assets | Net realized gains/(losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(1)	0
Other assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	107	114
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	0	0
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	3	(6)
Gross Transfers In	0	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	110	108
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	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

Fair Value Measurements - Cha_2

Fair Value Measurements - Changes in level 3 recurring fair value measurements, liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Liabilities:
Fair Value Beginning of Period	$ 3,441	$ 7,076	$ 2,648	$ 11,066
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	1,531	(3,693)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	(738)	(297)
Gross Transfers In		0
Other	0	0
Fair Value End of Period	3,441	7,076
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(1,110)	4,101
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	136	0
Derivative liabilities, net:
Gross Transfers Out	$ 0
Gross Transfers Out		$ 0
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss)	Other comprehensive income (loss)
Net realized gains/(losses)
Derivative liabilities, net:
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total net realized gains (losses)	Total net realized gains (losses)
Policyholder contract deposits
Liabilities:
Fair Value Beginning of Period	$ 6,064	$ 5,035	5,367	5,572
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	381	(658)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	316	121
Gross Transfers In	0	0
Other	0	0
Fair Value End of Period	6,064	5,035
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(368)	845
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0
Derivative liabilities, net:
Gross Transfers Out	0	0
Policyholder contract deposits | Net realized gains/(losses)
Liabilities:
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	381	(658)
Derivative liabilities, net
Liabilities:
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(15)	283
Purchases, Sales, Issuances and Settlements, Net	(261)	(20)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	17	(224)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	136	0
Derivative liabilities, net:
Fair Value Beginning of Period	(596)	(428)
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(15)	283
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	(261)	(20)
Gross Transfers In	0	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	(872)	(165)
Derivative liabilities, net | Net realized gains/(losses)
Liabilities:
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(88)	327
Interest rate contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(50)	1
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0
Derivative liabilities, net:
Fair Value Beginning of Period	(311)	0
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	57	(1)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	(102)	(3)
Gross Transfers In	0	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	(356)	(4)
Foreign exchange contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period		(1)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period		0
Derivative liabilities, net:
Fair Value Beginning of Period		(1)
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income		0
Other Comprehensive Income (Loss)		0
Purchases, Sales, Issuances and Settlements, Net		1
Gross Transfers In		0
Gross Transfers Out		0
Other		0
Fair Value End of Period		0
Equity contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	51	(241)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	136	0
Derivative liabilities, net:
Fair Value Beginning of Period	(271)	(444)
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(56)	301
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	(175)	(35)
Gross Transfers In	0	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	(502)	(178)
Credit contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period		(1)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period		0
Derivative liabilities, net:
Fair Value Beginning of Period		30
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income		1
Other Comprehensive Income (Loss)		0
Purchases, Sales, Issuances and Settlements, Net		0
Gross Transfers In		0
Gross Transfers Out		0
Other		0
Fair Value End of Period		31
Other contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	16	18
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0
Derivative liabilities, net:
Fair Value Beginning of Period	(14)	(13)
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(16)	(18)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	16	17
Gross Transfers In	0	0
Gross Transfers Out	0	0
Other	0	0
Fair Value End of Period	(14)	(14)
Fortitude Re funds withheld payable
Liabilities:
Fair Value Beginning of Period	(1,863)	2,206	(2,235)	$ 5,922
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	1,165	(3,318)
Other Comprehensive Income (Loss)	0	0
Purchases, Sales, Issuances and Settlements, Net	(793)	(398)
Gross Transfers In	0	0
Other	0	0
Fair Value End of Period	(1,863)	2,206
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(759)	3,480
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0
Derivative liabilities, net:
Gross Transfers Out	0	0
Fortitude Re funds withheld payable | Net realized gains/(losses)
Liabilities:
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	1,165	$ (3,318)
Other Liabilities
Liabilities:
Fair Value Beginning of Period	112		$ 112
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	0
Other Comprehensive Income (Loss)	0
Purchases, Sales, Issuances and Settlements, Net	0
Gross Transfers In	0
Other	0
Fair Value End of Period	112
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0
Derivative liabilities, net:
Gross Transfers Out	$ 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
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	$ 55	$ 136
Net realized gains (losses), liabilities	$ 1,531	$ (3,693)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	$ 381	$ (658)
Policyholder contract deposits | Net investment income - excluding Fortitude Re funds withheld assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	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	381	(658)
Policyholder contract deposits | Change in the fair value of market risk benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0
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
Market Risk Benefit Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	87	(702)
Market Risk Benefit Liabilities | Net investment income - excluding Fortitude Re funds withheld assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0
Market Risk Benefit Liabilities | Net realized gains/(losses)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	(3)
Market Risk Benefit Liabilities | Change in the fair value of market risk benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	87	(699)
Market Risk Benefit Liabilities | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(15)	283
Derivative liabilities, net | Net investment income - excluding Fortitude Re funds withheld assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	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	(88)	327
Derivative liabilities, net | Change in the fair value of market risk benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	89	(29)
Derivative liabilities, net | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(16)	(15)
Fortitude Re funds withheld payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	1,165	(3,318)
Fortitude Re funds withheld payable | Net investment income - excluding Fortitude Re funds withheld assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	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	1,165	(3,318)
Fortitude Re funds withheld payable | Change in the fair value of market risk benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	0	0
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
Bonds available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	66	145
Bonds available for sale | Net investment income - excluding Fortitude Re funds withheld assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	62	164
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	4	(19)
Bonds available for sale | Change in the fair value of market risk benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	0	0
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
Other bond securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	41	(121)
Other bond securities | Net investment income - excluding Fortitude Re funds withheld assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	41	(121)
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
Other bond securities | Change in the fair value of market risk benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	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
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	0	0
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	(52)	112
Other invested assets | Net investment income - excluding Fortitude Re funds withheld assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	(51)	112
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	(1)	0
Other invested assets | Change in the fair value of market risk benefits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	0	0
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

Fair Value Measurements - Gross

Fair Value Measurements - Gross components of purchases, sales, issuances and settlements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Assets:
Purchases	$ 1,372,000,000	$ 1,692,000,000
Sales	(36,000,000)	(60,000,000)
Issuances and Settlements	(694,000,000)	(1,286,000,000)
Purchases, Sales, Issuances and Settlements, Net	642,000,000	346,000,000
Liabilities:
Purchases	(260,000,000)	(85,000,000)
Sales	331,000,000	197,000,000
Issuances and Settlements	(809,000,000)	(409,000,000)
Purchases, Sales, Issuances and Settlements, Net	(738,000,000)	(297,000,000)
Issuances, assets	0	0
Issuances, liabilities	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	7,000,000	(34,000,000)
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.	(5,000,000)	(41,000,000)
Policyholder contract deposits
Liabilities:
Purchases	0	0
Sales	326,000,000	195,000,000
Issuances and Settlements	(10,000,000)	(74,000,000)
Purchases, Sales, Issuances and Settlements, Net	316,000,000	121,000,000
Derivative liabilities, net
Liabilities:
Purchases	(260,000,000)	(85,000,000)
Sales	5,000,000	2,000,000
Issuances and Settlements	(6,000,000)	63,000,000
Purchases, Sales, Issuances and Settlements, Net	(261,000,000)	(20,000,000)
Fortitude Re funds withheld payable
Liabilities:
Purchases	0	0
Sales	0	0
Issuances and Settlements	(793,000,000)	(398,000,000)
Purchases, Sales, Issuances and Settlements, Net	(793,000,000)	(398,000,000)
Other Liabilities
Liabilities:
Purchases, Sales, Issuances and Settlements, Net	0
Bonds available for sale
Assets:
Purchases	1,219,000,000	1,075,000,000
Sales	(32,000,000)	(60,000,000)
Issuances and Settlements	(544,000,000)	(930,000,000)
Purchases, Sales, Issuances and Settlements, Net	643,000,000	85,000,000
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Assets:
Purchases	1,000,000	1,000,000
Sales	(4,000,000)	(60,000,000)
Issuances and Settlements	(4,000,000)	(2,000,000)
Purchases, Sales, Issuances and Settlements, Net	(7,000,000)	(61,000,000)
Bonds available for sale | Corporate debt
Assets:
Purchases	21,000,000	9,000,000
Sales	0	0
Issuances and Settlements	(222,000,000)	168,000,000
Purchases, Sales, Issuances and Settlements, Net	(201,000,000)	177,000,000
Bonds available for sale | RMBS
Assets:
Purchases	290,000,000	109,000,000
Sales	(19,000,000)	0
Issuances and Settlements	(261,000,000)	(717,000,000)
Purchases, Sales, Issuances and Settlements, Net	10,000,000	(608,000,000)
Bonds available for sale | CMBS
Assets:
Purchases	10,000,000	70,000,000
Sales	(6,000,000)	0
Issuances and Settlements	(3,000,000)	(38,000,000)
Purchases, Sales, Issuances and Settlements, Net	1,000,000	32,000,000
Bonds available for sale | CLO/ABS
Assets:
Purchases	897,000,000	886,000,000
Sales	(3,000,000)	0
Issuances and Settlements	(54,000,000)	(341,000,000)
Purchases, Sales, Issuances and Settlements, Net	840,000,000	545,000,000
Other bond securities
Assets:
Purchases	52,000,000	359,000,000
Sales	(4,000,000)	0
Issuances and Settlements	(137,000,000)	(78,000,000)
Purchases, Sales, Issuances and Settlements, Net	(89,000,000)	281,000,000
Other bond securities | Obligations of states, municipalities and political subdivisions
Assets:
Purchases	1,000,000
Sales	0
Issuances and Settlements	0
Purchases, Sales, Issuances and Settlements, Net	1,000,000
Other bond securities | Corporate debt
Assets:
Purchases	0	19,000,000
Sales	0	0
Issuances and Settlements	(96,000,000)	58,000,000
Purchases, Sales, Issuances and Settlements, Net	(96,000,000)	77,000,000
Other bond securities | RMBS
Assets:
Purchases	5,000,000	17,000,000
Sales	0	0
Issuances and Settlements	(17,000,000)	(8,000,000)
Purchases, Sales, Issuances and Settlements, Net	(12,000,000)	9,000,000
Other bond securities | CMBS
Assets:
Purchases, Sales, Issuances and Settlements, Net	0	0
Other bond securities | CLO/ABS
Assets:
Purchases	46,000,000	323,000,000
Sales	(4,000,000)	0
Issuances and Settlements	(24,000,000)	(128,000,000)
Purchases, Sales, Issuances and Settlements, Net	18,000,000	195,000,000
Equity securities
Assets:
Purchases	29,000,000	0
Sales	0	0
Issuances and Settlements	(2,000,000)	1,000,000
Purchases, Sales, Issuances and Settlements, Net	27,000,000	1,000,000
Other invested assets
Assets:
Purchases	72,000,000	258,000,000
Sales	0	0
Issuances and Settlements	(14,000,000)	(273,000,000)
Purchases, Sales, Issuances and Settlements, Net	58,000,000	(15,000,000)
Other assets
Assets:
Purchases	0	0
Sales	0	0
Issuances and Settlements	3,000,000	(6,000,000)
Purchases, Sales, Issuances and Settlements, Net	$ 3,000,000	$ (6,000,000)

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Millions		Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale	[1]	$ 229,397	$ 226,156
Embedded derivatives within Policyholder contract deposits		6,100	5,400
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		1,200	1,100
Obligations of states, municipalities and political subdivisions
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 11,648	$ 12,099
Obligations of states, municipalities and political subdivisions | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0491	0.0528
Obligations of states, municipalities and political subdivisions | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0555	0.0594
Obligations of states, municipalities and political subdivisions | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0523	0.0561
Obligations of states, municipalities and political subdivisions | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 849	$ 799
Corporate debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 138,571	$ 137,839
Corporate debt | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0476	0.0498
Corporate debt | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.1160	0.0936
Corporate debt | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0781	0.0717
Corporate debt | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 2,034	$ 2,527
RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 19,603	$ 18,817
RMBS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0625	0.0598
RMBS | Minimum | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0478	0.0489
RMBS | Minimum | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.4453	0.4506
RMBS | Minimum | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0088	0.0082
RMBS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0789	0.0775
RMBS | Maximum | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.1023	0.1049
RMBS | Maximum | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.7794	0.7687
RMBS | Maximum | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0276	0.0272
RMBS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0707	0.0687
RMBS | Weighted-average | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0750	0.0769
RMBS | Weighted-average | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.6124	0.6097
RMBS | Weighted-average | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0182	0.0177
RMBS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 5,035	$ 5,235
CLO/ABS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0556	0.0600
CLO/ABS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0742	0.0797
CLO/ABS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0649	0.0699
CLO/ABS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 9,288	$ 7,503
CMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 14,874	$ 14,193
CMBS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0428	0.0406
CMBS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.3014	0.1314
CMBS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.1387	0.0860
CMBS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 605	$ 587
Market risk benefit assets | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0655	0.0645
Market risk benefit assets | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0016	0.0016
Market risk benefit assets | Minimum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.2000	0.2000
Market risk benefit assets | Minimum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.3825	0.3825
Market risk benefit assets | Minimum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.8000	0.8000
Market risk benefit assets | Minimum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0	0
Market risk benefit assets | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0034	0
Market risk benefit assets | Maximum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.5175	0.5075
Market risk benefit assets | Maximum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.2880	0.2880
Market risk benefit assets | Maximum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		1.8618	1.8618
Market risk benefit assets | Maximum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		1.6001	1.6001
Market risk benefit assets | Maximum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		1	1
Market risk benefit assets | Maximum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.3000	0.3000
Market risk benefit assets | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0245	0.0203
Market risk benefit assets | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 830	$ 796
Variable annuities guaranteed benefits | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0655	0.0645
Variable annuities guaranteed benefits | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0016	0.0016
Variable annuities guaranteed benefits | Minimum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2000	0.2000
Variable annuities guaranteed benefits | Minimum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.3825	0.3825
Variable annuities guaranteed benefits | Minimum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.8000	0.8000
Variable annuities guaranteed benefits | Minimum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Variable annuities guaranteed benefits | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0034	0
Variable annuities guaranteed benefits | Maximum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.5175	0.5075
Variable annuities guaranteed benefits | Maximum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2880	0.2880
Variable annuities guaranteed benefits | Maximum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8618	1.8618
Variable annuities guaranteed benefits | Maximum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.6001	1.6001
Variable annuities guaranteed benefits | Maximum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1	1
Variable annuities guaranteed benefits | Maximum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.3000	0.3000
Variable annuities guaranteed benefits | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0245	0.0203
Variable annuities guaranteed benefits | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 2,381	$ 2,358
Fixed annuities guaranteed benefits | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0020	0.0020
Fixed annuities guaranteed benefits | Minimum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2000	0.2000
Fixed annuities guaranteed benefits | Minimum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.4026	0.4026
Fixed annuities guaranteed benefits | Minimum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.9000	0.9000
Fixed annuities guaranteed benefits | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0034	0
Fixed annuities guaranteed benefits | Maximum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.1575	0.1575
Fixed annuities guaranteed benefits | Maximum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8618	1.8616
Fixed annuities guaranteed benefits | Maximum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.6843	1.6843
Fixed annuities guaranteed benefits | Maximum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.9750	0.9750
Fixed annuities guaranteed benefits | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0245	0.0203
Fixed annuities guaranteed benefits | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 806	$ 680
Fixed index annuities guaranteed benefits | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0655	0.0645
Fixed index annuities guaranteed benefits | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0020	0.0020
Fixed index annuities guaranteed benefits | 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 guaranteed benefits | Minimum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2400	0.2400
Fixed index annuities guaranteed benefits | Minimum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.6000	0.6000
Fixed index annuities guaranteed benefits | Minimum | Option budget
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Fixed index annuities guaranteed benefits | Minimum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0
Fixed index annuities guaranteed benefits | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0034	0
Fixed index annuities guaranteed benefits | Minimum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input			0
Fixed index annuities guaranteed benefits | Maximum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.5175	0.5075
Fixed index annuities guaranteed benefits | 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 guaranteed benefits | Maximum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8618	1.8618
Fixed index annuities guaranteed benefits | Maximum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8000	1.8000
Fixed index annuities guaranteed benefits | Maximum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.9750	0.9750
Fixed index annuities guaranteed benefits | Maximum | Option budget
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0600	0.0500
Fixed index annuities guaranteed benefits | Maximum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.3000
Fixed index annuities guaranteed benefits | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0245	0.0203
Fixed index annuities guaranteed benefits | Maximum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input			0.3000
Fixed index annuities guaranteed benefits | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 1,957	$ 1,698
Index Credits On Fixed Index Annuities | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0655	0.0645
Index Credits On Fixed Index Annuities | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0020	0.0020
Index Credits On Fixed Index Annuities | Minimum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2000	0.2000
Index Credits On Fixed Index Annuities | Minimum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2400	0.2400
Index Credits On Fixed Index Annuities | Minimum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.6000	0.6000
Index Credits On Fixed Index Annuities | Minimum | Option budget
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Index Credits On Fixed Index Annuities | Minimum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Index Credits On Fixed Index Annuities | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0034	0
Index Credits On Fixed Index Annuities | Maximum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.5175	0.5075
Index Credits On Fixed Index Annuities | Maximum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.5000	0.5000
Index Credits On Fixed Index Annuities | Maximum | Dynamic lapse multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8618	1.8618
Index Credits On Fixed Index Annuities | Maximum | Mortality multiplier
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1.8000	1.8000
Index Credits On Fixed Index Annuities | Maximum | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.9750	0.9750
Index Credits On Fixed Index Annuities | Maximum | Option budget
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0600	0.0500
Index Credits On Fixed Index Annuities | Maximum | Equity / interest rate correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.3000	0.3000
Index Credits On Fixed Index Annuities | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0245	0.0203
Index Credits On Fixed Index Annuities | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 5,269	$ 4,657
Index life | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0575	0.0575
Index life | Minimum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Index life | Minimum | Mortality rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0	0
Index life | Minimum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0034	0
Index life | Maximum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.2140	0.2363
Index life | Maximum | Base lapse rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.3797	0.3797
Index life | Maximum | Mortality rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		1	1
Index life | Maximum | NPA
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0245	0.0203
Index life | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 795	$ 710
[1]See Note 9 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	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
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)	$ 9,908	$ 9,822
Unfunded Commitments	3,931	4,064
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)	8,600	8,428
Unfunded Commitments	$ 3,931	4,064
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)	$ 3,285	3,146
Unfunded Commitments	2,327	2,448
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)	1,820	1,851
Unfunded Commitments	840	840
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)	268	272
Unfunded Commitments	171	183
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)	715	732
Unfunded Commitments	49	60
Mezzanine
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	592	598
Unfunded Commitments	155	142
Other
INVESTMENTS IN CERTAIN ENTITIES CARRIED AT FAIR VALUE USING NET ASSET VALUE PER SHARE
Fair Value Using NAV Per Share (or its equivalent)	1,920	1,829
Unfunded Commitments	389	391
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)	1,308	1,394
Unfunded Commitments	0	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)	102	92
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)	659	696
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)	359	414
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)	188	192
Unfunded Commitments	$ 0	$ 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
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	$ 212	$ 182
Other bond securities
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	136	(319)
Alternative investments
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	77	398
Long-term debt
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	$ (1)	$ 103

Fair Value Measurements - Diffe

Fair Value Measurements - Difference between fair values fair value option (Details) - Fair Value Option - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair Value	$ 72	$ 56
Outstanding Principal Amount	60	45
Difference	$ 12	$ 11

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
		Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets	[1]	$ 16,104		$ 15,953
Impairment Charges		11	$ 0
Fair value on a non-recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets				12
Other assets		11
Total		11		12
Impairment Charges		9	0
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		100		163
Fair value on a non-recurring basis | Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment Charges		9	$ 0
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
Other assets		0
Total		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
Other assets		0
Total		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				12
Other assets		11
Total		$ 11		$ 12
[1]See Note 9 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		Mar. 31, 2023		Dec. 31, 2022		Mar. 31, 2022	Jan. 01, 2021
Assets:
Mortgage and other loans receivable	[1]	$ 50,830		$ 49,605
Other invested assets	[1]	16,104		15,953
Short-term investments	[1]	13,253		12,376
Cash		1,923	[1]	2,043	[1]	$ 2,537
Other assets		12,967	[1]	12,384	[1]		$ 13,520
Liabilities:
Fortitude Re funds withheld payable		30,368		30,383
Other liabilities		28,595	[1]	26,757	[1]		$ 27,520
Estimated Fair Value
Assets:
Mortgage and other loans receivable		47,810		45,844
Other invested assets		871		854
Short-term investments		6,387		6,668
Cash		1,923		2,043
Other assets		30		33
Liabilities:
Policyholder contract deposits associated with investment-type contracts		133,018		129,293
Fortitude Re funds withheld payable		32,231		32,618
Other liabilities		2,614		3,101
Short-term and long-term debt		20,380		19,603
Debt of consolidated investment entities		3,889		5,533
Separate account liabilities - investment contracts		83,452		80,649
Carrying Value
Assets:
Mortgage and other loans receivable		50,730		49,442
Other invested assets		870		854
Short-term investments		6,387		6,668
Cash		1,923		2,043
Other assets		30		33
Liabilities:
Policyholder contract deposits associated with investment-type contracts		138,269		137,086
Fortitude Re funds withheld payable		32,231		32,618
Other liabilities		2,614		3,101
Short-term and long-term debt		22,028		21,243
Debt of consolidated investment entities		3,944		5,880
Separate account liabilities - investment contracts		83,452		80,649
Level 1 | Estimated Fair Value
Assets:
Mortgage and other loans receivable		0		0
Other invested assets		0		0
Short-term investments		0		0
Cash		1,923		2,043
Other assets		29		24
Liabilities:
Policyholder contract deposits associated with investment-type contracts		0		0
Fortitude Re funds withheld payable		0		0
Other liabilities		0		0
Short-term and long-term debt		0		0
Debt of consolidated investment entities		0		0
Separate account liabilities - investment contracts		0		0
Level 2 | Estimated Fair Value
Assets:
Mortgage and other loans receivable		91		89
Other invested assets		865		848
Short-term investments		6,387		6,668
Cash		0		0
Other assets		1		9
Liabilities:
Policyholder contract deposits associated with investment-type contracts		115		119
Fortitude Re funds withheld payable		0		0
Other liabilities		2,614		3,101
Short-term and long-term debt		20,096		19,328
Debt of consolidated investment entities		1,265		3,055
Separate account liabilities - investment contracts		83,452		80,649
Level 3 | Estimated Fair Value
Assets:
Mortgage and other loans receivable		47,719		45,755
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		132,903		129,174
Fortitude Re funds withheld payable		32,231		32,618
Other liabilities		0		0
Short-term and long-term debt		284		275
Debt of consolidated investment entities		2,624		2,478
Separate account liabilities - investment contracts		$ 0		$ 0
[1]See Note 9 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		3 Months Ended	12 Months Ended
		Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 254,179	$ 255,993
Allowance for credit losses		(136)	(186)	$ (191)	$ (98)
Gross Unrealized Gains		2,726	2,222
Gross Unrealized Losses		(27,372)	(31,873)
Bonds available for sale	[1]	229,397	226,156
Non-Investment Grade
Debt Securities, Available-for-sale [Line Items]
Bonds available for sale		$ 19,600	$ 22,300
Non-Investment Grade | Credit Concentration Risk | Bonds available for sale
Debt Securities, Available-for-sale [Line Items]
Concentration risk, percentage		9%	10%
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 5,995	$ 7,094
Allowance for credit losses		0	0
Gross Unrealized Gains		49	21
Gross Unrealized Losses		(289)	(496)
Bonds available for sale		5,755	6,619
Obligations of states, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		12,344	13,195
Allowance for credit losses		0	0
Gross Unrealized Gains		161	99
Gross Unrealized Losses		(857)	(1,195)
Bonds available for sale		11,648	12,099
Non-U.S. governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		14,928	15,133
Allowance for credit losses		(10)	(6)
Gross Unrealized Gains		109	91
Gross Unrealized Losses		(1,595)	(1,733)
Bonds available for sale		13,432	13,485
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		157,227	160,242
Allowance for credit losses		(81)	(132)
Gross Unrealized Gains		1,542	1,152
Gross Unrealized Losses		(20,117)	(23,423)
Bonds available for sale		138,571	137,839
Mortgage-backed, asset-backed and collateralized
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		63,685	60,329
Allowance for credit losses		(45)	(48)
Gross Unrealized Gains		865	859
Gross Unrealized Losses		(4,514)	(5,026)
Bonds available for sale		59,991	56,114
RMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		20,230	19,584
Allowance for credit losses		(37)	(37)
Gross Unrealized Gains		778	807
Gross Unrealized Losses		(1,368)	(1,537)
Bonds available for sale		19,603	18,817
CMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		16,278	15,610
Allowance for credit losses		(8)	(11)
Gross Unrealized Gains		21	14
Gross Unrealized Losses		(1,417)	(1,420)
Bonds available for sale		14,874	14,193
CLO/ABS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		27,177	25,135
Allowance for credit losses		0	0
Gross Unrealized Gains		66	38
Gross Unrealized Losses		(1,729)	(2,069)
Bonds available for sale		$ 25,514	$ 23,104
[1]See Note 9 for details of balances associated with variable interest entities.

Investments - Securities availa

Investments - Securities available for sale in a loss position (Details) $ in Millions	Mar. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Fair Value
Fair Value, Less than 12 Months	$ 146,714	$ 173,000
Fair Value, 12 Months or More	41,057	23,486
Fair Value, Total	187,771	196,486
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	20,649	26,605
Gross Unrealized Losses, 12 Months or More	6,576	5,132
Gross Unrealized Losses, Total	$ 27,225	$ 31,737
Number of securities in an unrealized loss position | security	34,040	36,549
Number of individual securities in continuous unrealized loss position for longer than twelve months | security	5,745	4,048
U.S. government and government sponsored entities
Fair Value
Fair Value, Less than 12 Months	$ 3,573	$ 3,493
Fair Value, 12 Months or More	256	1,816
Fair Value, Total	3,829	5,309
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	275	368
Gross Unrealized Losses, 12 Months or More	14	128
Gross Unrealized Losses, Total	289	496
Obligations of states, municipalities and political subdivisions
Fair Value
Fair Value, Less than 12 Months	6,907	8,697
Fair Value, 12 Months or More	317	73
Fair Value, Total	7,224	8,770
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	832	1,180
Gross Unrealized Losses, 12 Months or More	25	15
Gross Unrealized Losses, Total	857	1,195
Non-U.S. governments
Fair Value
Fair Value, Less than 12 Months	10,501	10,702
Fair Value, 12 Months or More	442	779
Fair Value, Total	10,943	11,481
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	1,574	1,526
Gross Unrealized Losses, 12 Months or More	16	191
Gross Unrealized Losses, Total	1,590	1,717
Corporate debt
Fair Value
Fair Value, Less than 12 Months	92,595	110,683
Fair Value, 12 Months or More	25,579	13,778
Fair Value, Total	118,174	124,461
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	15,340	19,756
Gross Unrealized Losses, 12 Months or More	4,739	3,609
Gross Unrealized Losses, Total	20,079	23,365
RMBS
Fair Value
Fair Value, Less than 12 Months	9,238	10,953
Fair Value, 12 Months or More	2,786	1,005
Fair Value, Total	12,024	11,958
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	900	1,293
Gross Unrealized Losses, 12 Months or More	375	182
Gross Unrealized Losses, Total	1,275	1,475
CMBS
Fair Value
Fair Value, Less than 12 Months	10,228	11,620
Fair Value, 12 Months or More	3,333	1,728
Fair Value, Total	13,561	13,348
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	912	1,094
Gross Unrealized Losses, 12 Months or More	494	326
Gross Unrealized Losses, Total	1,406	1,420
CLO/ABS
Fair Value
Fair Value, Less than 12 Months	13,672	16,852
Fair Value, 12 Months or More	8,344	4,307
Fair Value, Total	22,016	21,159
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	816	1,388
Gross Unrealized Losses, 12 Months or More	913	681
Gross Unrealized Losses, Total	$ 1,729	$ 2,069

Investments - Amortized cost an

Investments - Amortized cost and fair value of fixed maturity securities available for sale by contractual maturity (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Amortized Cost, Net of Allowance
Due in one year or less		$ 9,146
Due after one year through five years		47,843
Due after five years through ten years		43,027
Due after ten years		90,387
Mortgage-backed, asset-backed and collateralized		63,640
Total		254,043
Fair Value
Due in one year or less		9,053
Due after one year through five years		45,864
Due after five years through ten years		39,247
Due after ten years		75,242
Mortgage-backed, asset-backed and collateralized		59,991
Total	[1]	$ 229,397	$ 226,156
[1]See Note 9 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
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Gross Realized Gains	$ 146	$ 97
Gross Realized Losses	598	236
Aggregate fair value of available for sale securities sold	10,800	4,800
Net Investment Income [Line Items]
Net realized gains (losses)	(452)	(139)
Fortitude RE Funds Withheld Assets
Net Investment Income [Line Items]
Net realized gains (losses)	$ (65)	$ (32)

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		3 Months Ended	12 Months Ended
		Mar. 31, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Fair Value	[1]	$ 4,762	$ 4,485
Equity securities	[1]	591	575
Total		$ 5,353	$ 5,060
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		$ 4,762	$ 4,485
Fixed maturity securities | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		90%	89%
Fixed maturity securities | U.S. government and government sponsored entities
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 1	$ 0
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		0%	0%
Fixed maturity securities | Obligations of states, municipalities and political subdivisions
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 140	$ 111
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		3%	2%
Fixed maturity securities | Non-U.S. governments
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 60	$ 66
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		$ 2,546	$ 2,392
Fixed maturity securities | Corporate debt | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		48%	47%
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 2,015	$ 1,916
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		38%	39%
Fixed maturity securities | RMBS
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 273	$ 286
Fixed maturity securities | RMBS | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		5%	6%
Fixed maturity securities | CMBS
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 317	$ 331
Fixed maturity securities | CMBS | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		6%	7%
Fixed maturity securities | CLO/ABS
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 1,425	$ 1,299
Fixed maturity securities | CLO/ABS | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		27%	26%
Equity securities
Debt and Equity Securities, FV-NI [Line Items]
Equity securities		$ 591	$ 575
Equity securities | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		10%	11%
[1]See Note 9 for details of balances associated with variable interest entities.

Investments - Carrying amounts

Investments - Carrying amounts of other invested assets (Details) - USD ($) $ in Millions		3 Months Ended	72 Months Ended
		Mar. 31, 2023	Dec. 31, 2028	Dec. 31, 2022
Investments [Line Items]
Investment real estate		$ 2,199		$ 2,153
All other investments		2,053		1,991
Other invested assets	[1]	16,104		15,953
Accumulated depreciation on investment in real estate		802		786
Fortitude Re Funds Withheld Assets
Investments [Line Items]
Other invested assets		156		156
Hedge Funds and Private Equity Funds
Investments [Line Items]
Alternative investments		11,852		11,809
Hedge Funds
Investments [Line Items]
Other invested assets		$ 1,300		1,400
Percentage available for redemption		65%
Hedge Funds | Forecast
Investments [Line Items]
Percentage available for redemption			35%
Private equity funds
Investments [Line Items]
Alternative investments		$ 8,600		8,428
Other invested assets		$ 10,500		$ 10,400
[1]See Note 9 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
	Mar. 31, 2023	Mar. 31, 2022
Net Investment Income [Line Items]
Total investment income	$ 3,738	$ 3,392
Investment expenses	205	155
Net investment income	3,533	3,237
Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	3,283	3,092
Investment expenses	196	146
Net investment income	3,087	2,946
Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	455	300
Investment expenses	9	9
Net investment income	446	291
Available for sale fixed maturity securities, including short-term investments
Net Investment Income [Line Items]
Total investment income	2,789	2,342
Available for sale fixed maturity securities, including short-term investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	2,546	2,041
Available for sale fixed maturity securities, including short-term investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	243	301
Other fixed maturity securities
Net Investment Income [Line Items]
Total investment income	135	(319)
Gains/(losses) recognized in earnings on hedging derivatives		(95)
Other fixed maturity securities | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	12	(201)
Other fixed maturity securities | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	123	(118)
Equity securities
Net Investment Income [Line Items]
Total investment income	51	(27)
Equity securities | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	51	(27)
Equity securities | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	0	0
Interest on mortgage and other loans
Net Investment Income [Line Items]
Total investment income	626	499
Interest on mortgage and other loans | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	567	453
Interest on mortgage and other loans | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	59	46
Alternative investments
Net Investment Income [Line Items]
Total investment income	107	740
Alternative investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	76	669
Alternative investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	31	71
Real estate
Net Investment Income [Line Items]
Total investment income	3	0
Real estate | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	3	0
Real estate | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	0	0
Other investments
Net Investment Income [Line Items]
Total investment income	27	157
Gains/(losses) recognized in earnings on hedging derivatives	(3)	91
Other investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	28	157
Other investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	$ (1)	$ 0

Investments - Components of n_2

Investments - Components of net realized gains (losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Components of net realized capital gains (losses)
Sales of fixed maturity securities	$ (452)	$ (139)
Net realized losses	(1,909)	3,579
Excluding Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized losses	(713)	401
Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized losses	(1,196)	3,178
Excluding modified coinsurance and funds withheld embedded derivative
Components of net realized capital gains (losses)
Sales of fixed maturity securities	(452)	(139)
Change in allowance for credit losses on fixed maturity securities	(16)	(93)
Foreign exchange transactions	130	(22)
Index-linked interest credited embedded derivatives, net of related hedges	(178)	203
All other derivatives and hedge accounting*	(179)	344
Sales of alternative investments and real estate investments	5	17
Other	9	(22)
Net realized losses	(744)	261
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	(63)	(27)
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	(387)	(107)
Change in allowance for credit losses on fixed maturity securities	(16)	(53)
Foreign exchange transactions	114	(13)
Index-linked interest credited embedded derivatives, net of related hedges	(178)	203
All other derivatives and hedge accounting*	(217)	400
Sales of alternative investments and real estate investments	4	16
Other	9	(26)
Net realized losses	(713)	401
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	(42)	(19)
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	(65)	(32)
Change in allowance for credit losses on fixed maturity securities	0	(40)
Foreign exchange transactions	16	(9)
Index-linked interest credited embedded derivatives, net of related hedges	0	0
All other derivatives and hedge accounting*	38	(56)
Sales of alternative investments and real estate investments	1	1
Other	0	4
Net realized losses	(31)	(140)
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	(21)	(8)
Fortitude Re funds withheld embedded derivative
Components of net realized capital gains (losses)
Net realized losses	(1,165)	3,318
Fortitude Re funds withheld embedded derivative | Excluding Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized losses	0	0
Fortitude Re funds withheld embedded derivative | Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized losses	$ (1,165)	$ 3,318

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
	Mar. 31, 2023	Mar. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ 5,005	$ (20,167)
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	161	448
Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period	154	91
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	7	357
Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	5,005	(20,160)
Other investments
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	0	(7)
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	51	(27)
Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period	153	94
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	(102)	(121)
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	110	475
Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period	1	(3)
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	$ 109	$ 478

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
	Mar. 31, 2023	Mar. 31, 2022
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 186	$ 98
Securities for which allowance for credit losses were not previously recorded	24	177
Securities sold during the period	(11)	(1)
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)	(84)
Write-offs charged against the allowance	(50)	0
Other	(5)	1
Balance, end of period	136	191
Structured
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	46	8
Securities for which allowance for credit losses were not previously recorded	2	49
Securities sold during the period	(1)	0
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	(4)	(42)
Write-offs charged against the allowance	0	0
Other	2	0
Balance, end of period	45	15
Non- Structured
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	140	90
Securities for which allowance for credit losses were not previously recorded	22	128
Securities sold during the period	(10)	(1)
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	(4)	(42)
Write-offs charged against the allowance	(50)	0
Other	(7)	1
Balance, end of period	$ 91	$ 176

Investments - Pledged investmen

Investments - Pledged investments (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Fixed maturity securities available for sale	$ 2,679,000,000	$ 2,968,000,000
Amounts borrowed under repurchase and securities lending agreements	2,600,000,000	3,100,000,000
Securities pledged under repurchase agreements	2,679,000,000	2,968,000,000
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	15,400,000,000	13,600,000,000
Loans	51,616,000,000	50,321,000,000
Bonds available for sale and short-term investments held in escrow	305,000,000	301,000,000
AIG Financial Products
Financial Instruments Owned and Pledged as Collateral [Line Items]
Loans	37,600,000,000	37,600,000,000
Asset Pledged as Collateral
Financial Instruments Owned and Pledged as Collateral [Line Items]
Fixed maturity securities available for sale	6,800,000,000	5,800,000,000
Other bond securities, at fair value	63,000,000	63,000,000
Loans	2,100,000,000	1,800,000,000
Overnight and Continuous
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	28,000,000	0
up to 30 days
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	2,158,000,000	2,391,000,000
31 - 90 days
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	493,000,000	577,000,000
91 - 364 days
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
365 days or greater
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	0
Bonds available for sale | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	74,000,000	20,000,000
Bonds available for sale | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	2,605,000,000	2,948,000,000
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	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	28,000,000	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	74,000,000	20,000,000
Bonds available for sale | up to 30 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	2,084,000,000	2,371,000,000
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
Bonds available for sale | 31 - 90 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	493,000,000	577,000,000
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
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
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
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
FHLBs
Financial Instruments Owned and Pledged as Collateral [Line Items]
Federal Home Loan Bank stock	$ 261,000,000	$ 239,000,000

Lending Activities - Compositio

Lending Activities - Composition of mortgages and other loans receivable (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		$ 51,616		$ 50,321
Allowance for credit losses		(38,421)		(38,351)
Mortgage and other loans receivable, net	[1]	50,830		49,605
Commercial mortgage loans
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		37,779		37,128
Allowance for credit losses		(706)	$ (533)	(640)	$ (545)
Off-balance-sheet commitments		62	$ 106	69
Loans on nonacrrual status		727		703
Accrued interest receivable		$ 166		147
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		19%	19%
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		11%	11%
Residential mortgages
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		$ 6,899		6,130
Loans on nonacrrual status		3		5
Accrued interest receivable		18		15
Life insurance policy loans
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		1,747		1,758
Commercial loans, other loans and notes receivable
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		5,191		5,305
Loans held for sale		173		170
Excluding AIGFP Operating
Composition of Mortgages and other loans receivable
Allowance for credit losses		(786)	$ (617)	(716)	$ (629)
AIG Financial Products
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		37,600		$ 37,600
Allowance for credit losses		$ (37,600)
[1]See Note 9 for details of balances associated with variable interest entities.

Lending Activities - Credit qua

Lending Activities - Credit quality of commercial mortgages (Details) $ in Millions	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 51,616	$ 50,321
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	396	6,473
Prior year	6,715	3,355
Two years prior	3,491	2,206
Three years prior	2,220	5,453
Four years prior	5,507	5,431
Five years & beyond prior	19,450	14,210
Total	$ 37,779	$ 37,128
Weighted average debt service coverage ratio	1.9	1.9
Weighted average loan-to-value ratio (as a percent)	59%	59%
AIG Financial Products
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 37,600	$ 37,600
Less than 65% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	354	5,425
Prior year	5,602	2,548
Two years prior	2,674	1,775
Three years prior	1,786	3,958
Four years prior	4,006	3,016
Five years & beyond prior	14,091	10,739
Total	28,513	27,461
65% to 75% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	42	998
Prior year	1,063	517
Two years prior	527	405
Three years prior	269	1,445
Four years prior	1,451	1,487
Five years & beyond prior	2,509	1,393
Total	5,861	6,245
76% to 80% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	50
Prior year	50	52
Two years prior	52	0
Three years prior	0	0
Four years prior	0	168
Five years & beyond prior	424	229
Total	526	499
Greater than 80% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Prior year	0	238
Two years prior	238	26
Three years prior	165	50
Four years prior	50	760
Five years & beyond prior	2,426	1,849
Total	2,879	2,923
Greater than 1.2X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	339	5,518
Prior year	5,615	2,457
Two years prior	2,441	1,710
Three years prior	1,288	4,985
Four years prior	5,076	4,120
Five years & beyond prior	15,838	11,663
Total	30,597	30,453
1.00 - 1.20X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	57	910
Prior year	1,051	898
Two years prior	1,050	473
Three years prior	909	416
Four years prior	431	567
Five years & beyond prior	1,686	1,353
Total	5,184	4,617
Less than 1.00X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	45
Prior year	49	0
Two years prior	0	23
Three years prior	23	52
Four years prior	0	744
Five years & beyond prior	1,926	1,194
Total	$ 1,998	$ 2,058

Lending Activities - Credit q_2

Lending Activities - Credit quality performance indicators for commercial mortgages (Details) $ in Millions	Mar. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($) loan	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 51,616	$ 50,321
Allowance for credit losses	$ 38,421	$ 38,351
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	627	629
Total	$ 37,779	$ 37,128
Allowance for credit losses	$ 706	$ 640	$ 533	$ 545
Percent of Total	100%	100%
Percentage of total, allowance for credit losses	2%	2%
Commercial mortgage loans | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	621	625
Total	$ 37,209	$ 36,913
Percent of Total	98%	99%
Commercial mortgage loans | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	2	0
Total	$ 360	$ 0
Percent of Total	1%	0%
Commercial mortgage loans | >90 days delinquent or in process of foreclosure
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	4	4
Total	$ 210	$ 215
Percent of Total	1%	1%
Commercial mortgage loans | Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 14,968	$ 14,597
Allowance for credit losses	101	100
Commercial mortgage loans | Apartments | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	14,608	14,597
Commercial mortgage loans | Apartments | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Total	360	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	10,119	10,275
Allowance for credit losses	411	351
Commercial mortgage loans | Offices | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	9,950	10,102
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	169	173
Commercial mortgage loans | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,131	3,816
Allowance for credit losses	87	81
Commercial mortgage loans | Retail | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,090	3,774
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	41	42
Commercial mortgage loans | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,062	6,006
Allowance for credit losses	72	71
Commercial mortgage loans | Industrial | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,062	6,006
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	2,082	2,027
Allowance for credit losses	27	29
Commercial mortgage loans | Hotel | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,082	2,027
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	417	407
Allowance for credit losses	8	8
Commercial mortgage loans | Others | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	417	407
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	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 51,616	$ 50,321
Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	413	997
Prior year	1,332	3,016
Two years prior	2,928	852
Three years prior	852	327
Four years prior	325	120
Five years & beyond prior	1,049	818
Total	6,899	6,130
780 and greater | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	70	296
Prior year	539	2,204
Two years prior	2,328	654
Three years prior	649	232
Four years prior	234	77
Five years & beyond prior	637	567
Total	4,457	4,030
720 - 779 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	269	536
Prior year	541	728
Two years prior	511	168
Three years prior	168	76
Four years prior	71	32
Five years & beyond prior	234	169
Total	1,794	1,709
660 - 719 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	72	163
Prior year	231	80
Two years prior	82	28
Three years prior	34	16
Four years prior	16	9
Five years & beyond prior	104	62
Total	539	358
600 - 659 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	2	2
Prior year	21	4
Two years prior	6	2
Three years prior	1	2
Four years prior	2	2
Five years & beyond prior	50	14
Total	82	26
Less than 600 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	0
Prior year	0	0
Two years prior	1	0
Three years prior	0	1
Four years prior	2	0
Five years & beyond prior	24	6
Total	$ 27	$ 7

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
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	$ 38,351
Allowance, end of period	38,421
Loans modified in a troubled debt restructuring		$ 115
Commercial mortgage loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	640	545
Loans charged off	0	(4)
Net charge-offs	0	(4)
Addition to (release of) allowance for loan losses	66	(8)
Allowance, end of period	706	533
Off-balance-sheet commitments	62	106	$ 69
Other loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	76	84
Loans charged off	0	0
Net charge-offs	0	0
Addition to (release of) allowance for loan losses	4	0
Allowance, end of period	80	84
Excluding AIGFP Operating
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	716	629
Loans charged off	0	(4)
Net charge-offs	0	(4)
Addition to (release of) allowance for loan losses	70	(8)
Allowance, end of period	$ 786	$ 617

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Billions	Mar. 31, 2023	Dec. 31, 2022
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 75.2	$ 71.8
Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	93%	92%
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	77%	77%
Not Rated
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	1%	1%
Legacy Life And Retirement Run Off Lines Segment Member
Effects of Reinsurance [Line Items]
Ceded reserves	$ 28
Legacy General Insurance Run Off Lines Member
Effects of Reinsurance [Line Items]
Ceded reserves	$ 3.2
General Insurance | Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	51%	53%
Life and Retirement | Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	42%	39%
Life and Retirement | Non-Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverables, percent	1%	1%

Reinsurance - Summary of the co

Reinsurance - Summary of the composition of pool of assets (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023		Mar. 31, 2022	Dec. 31, 2022		Jan. 01, 2021
Effects of Reinsurance [Line Items]
Bonds available for sale	[1]	$ 229,397			$ 226,156
Fixed maturity securities - fair value option	[1]	4,762			4,485
Loans		51,616			50,321
Investment real estate		2,199			2,153
Short-term investments	[1]	13,253			12,376
Derivative assets net, carrying value		616			514
Derivative assets, net, fair value		4,791			6,049
Other assets		12,967	[1]		12,384	[1]	$ 13,520
Total assets		536,627			522,228		$ 598,841
Carrying Value
Effects of Reinsurance [Line Items]
Short-term investments		6,387			6,668
Other assets		30			33
Hedge Funds and Private Equity Funds
Effects of Reinsurance [Line Items]
Fair Value Using NAV Per Share (or its equivalent)		11,852			11,809
Commercial mortgage loans
Effects of Reinsurance [Line Items]
Loans		37,779			37,128
Policy loans
Effects of Reinsurance [Line Items]
Loans		1,747			1,758
Fortitude Holdings
Effects of Reinsurance [Line Items]
Change in net unrealized gains (losses), gross		704		$ (3,300)
Change in net unrealized gains (losses), net of tax		556		$ (2,600)
Derivative asset, Fair value of collateral		278			192
Derivative liability, Fair value of collateral		24			28
Fortitude Holdings | Carrying Value
Effects of Reinsurance [Line Items]
Bonds available for sale		18,640			18,821
Fixed maturity securities - fair value option		4,406			4,182
Investment real estate		130			133
Short-term investments		184			75
Funds withheld investment assets		29,758			29,566
Derivative assets net, carrying value		80			90
Other assets		570			782
Total assets		30,408			30,438
Fortitude Holdings | Estimated Fair Value
Effects of Reinsurance [Line Items]
Bonds available for sale		18,640			18,821
Fixed maturity securities - fair value option		4,406			4,182
Investment real estate		315			348
Short-term investments		184			75
Funds withheld investment assets		29,718			29,511
Derivative assets, net, fair value		80			90
Other assets		570			782
Total		30,368			30,383
Fortitude Holdings | Hedge Funds and Private Equity Funds | Carrying Value
Effects of Reinsurance [Line Items]
Fair Value Using NAV Per Share (or its equivalent)		1,901			1,893
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)		1,901			1,893
Fortitude Holdings | Commercial mortgage loans | Carrying Value
Effects of Reinsurance [Line Items]
Loans		4,152			4,107
Fortitude Holdings | Commercial mortgage loans | Estimated Fair Value
Effects of Reinsurance [Line Items]
Loans, fair value		3,927			3,837
Fortitude Holdings | Policy loans | Carrying Value
Effects of Reinsurance [Line Items]
Loans		345			355
Fortitude Holdings | Policy loans | Estimated Fair Value
Effects of Reinsurance [Line Items]
Loans, fair value		$ 345			$ 355
[1]See Note 9 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
	Mar. 31, 2023	Mar. 31, 2022
Effects of Reinsurance [Line Items]
Total net investment income	$ 3,533	$ 3,237
Total net realized gains (losses)	(1,909)	3,579
Income (loss) from continuing operations before income tax expense (benefit)	(231)	5,714
Income tax expense (benefit)	(144)	1,154
Net income (loss)	(87)	4,560
Change in unrealized depreciation of all other investments	112	873
Comprehensive income (loss)	3,826	(8,551)
Fortitude Re funds withheld assets
Effects of Reinsurance [Line Items]
Total net investment income	446	291
Fortitude Holdings
Effects of Reinsurance [Line Items]
Total net investment income	446	291
Total net realized gains (losses)	(1,196)	3,178
Income (loss) from continuing operations before income tax expense (benefit)	(750)	3,469
Income tax expense (benefit)	(158)	728
Net income (loss)	(592)	2,741
Comprehensive income (loss)	(36)	103
Fortitude Holdings | Fortitude Re funds withheld assets
Effects of Reinsurance [Line Items]
Total net realized gains (losses)	(31)	(140)
Fortitude Holdings | Fortitude Re funds withheld assets | Embedded derivatives
Effects of Reinsurance [Line Items]
Total net realized gains (losses)	(1,165)	3,318
Fortitude Holdings | Other investments
Effects of Reinsurance [Line Items]
Change in unrealized depreciation of all other investments	$ 556	$ (2,638)

Reinsurance - Rollforward of th

Reinsurance - Rollforward of the reinsurance recoverable allowance for credit losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 344	$ 382
Addition to (release of) allowance for expected credit losses and disputes, net	(13)	9
Write-offs charged against the allowance for credit losses and disputes	(1)	(2)
Other changes	(3)	2
Balance, end of period	327	391
General Insurance
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	260	281
Addition to (release of) allowance for expected credit losses and disputes, net	(3)	5
Write-offs charged against the allowance for credit losses and disputes	(1)	(2)
Other changes	(3)	2
Balance, end of period	253	286
Life and Retirement
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	84	101
Addition to (release of) allowance for expected credit losses and disputes, net	(10)	4
Write-offs charged against the allowance for credit losses and disputes	0	0
Other changes	0	0
Balance, end of period	$ 74	$ 105

Reinsurance - Rollforward of _2

Reinsurance - Rollforward of the reinsurable allowance for credit losses before adoption (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Jan. 01, 2021	Dec. 31, 2020
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				$ 3,176
Fortitude RE
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes	$ 31,149	$ 30,751	$ 42,244	36,801
Excluding Fortitude
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes	$ 41,706	38,971	39,432	36,300
As Previously Reported
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				2,707
As Previously Reported | Fortitude RE
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes		32,159	34,578	29,135
As Previously Reported | Excluding Fortitude
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes		$ 39,434	$ 38,963
Reclassification to Market risk benefits
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				(35)
Adjustments for NPR* > 100%
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				9
Adjustments for NPR* > 100% | Fortitude RE
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				55
Change due to the current upper-medium grade discount rate
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				79
Change due to the current upper-medium grade discount rate | Fortitude RE
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				7,611
Effect Of Application Of Accounting Standards Update 2018-12, Reclassification To Cost Of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				416
Individual Retirement
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				274
Individual Retirement | As Previously Reported
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				309
Individual Retirement | Reclassification to Market risk benefits
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				(35)
Individual Retirement | Adjustments for NPR* > 100%
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
Individual Retirement | Change due to the current upper-medium grade discount rate
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
Individual Retirement | Effect Of Application Of Accounting Standards Update 2018-12, Reclassification To Cost Of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
Life Insurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				2,869
Life Insurance | As Previously Reported
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				2,370
Life Insurance | Reclassification to Market risk benefits
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
Life Insurance | Adjustments for NPR* > 100%
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				9
Life Insurance | Change due to the current upper-medium grade discount rate
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				74
Life Insurance | Effect Of Application Of Accounting Standards Update 2018-12, Reclassification To Cost Of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				416
Institutional Markets
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				33
Institutional Markets | As Previously Reported
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				28
Institutional Markets | Reclassification to Market risk benefits
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
Institutional Markets | Adjustments for NPR* > 100%
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
Institutional Markets | Change due to the current upper-medium grade discount rate
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				5
Institutional Markets | Effect Of Application Of Accounting Standards Update 2018-12, Reclassification To Cost Of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
General Insurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				$ 5,400

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Rollforward of LDTI and DSI Adoption Adjustments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost	$ 13,304	$ 12,857	$ 13,219	$ 13,001
Deferred sale inducement cost					$ 679
As Previously Reported
Summary of Significant Accounting Policies [Line Items]
Deferred sale inducement cost					281
Effect of Change
Summary of Significant Accounting Policies [Line Items]
Deferred sale inducement cost					398
Individual Retirement
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost	4,647	4,597	4,578	4,553
Deferred sale inducement cost					474
Individual Retirement | As Previously Reported
Summary of Significant Accounting Policies [Line Items]
Deferred sale inducement cost					190
Individual Retirement | Effect of Change
Summary of Significant Accounting Policies [Line Items]
Deferred sale inducement cost					284
Group Retirement
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost	1,059	1,060	1,074	1,078
Deferred sale inducement cost					205
Group Retirement | As Previously Reported
Summary of Significant Accounting Policies [Line Items]
Deferred sale inducement cost					91
Group Retirement | Effect of Change
Summary of Significant Accounting Policies [Line Items]
Deferred sale inducement cost					114
Life Insurance
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost	4,871	4,839	4,880	4,904
General Insurance
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost	$ 2,674	$ 2,310	$ 2,648	$ 2,428
Long-Duration Insurance Contracts
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					10,466
Long-Duration Insurance Contracts | As Previously Reported
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					7,316
Long-Duration Insurance Contracts | Effect of Change
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					3,150
Long-Duration Insurance Contracts | Individual Retirement
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					4,421
Long-Duration Insurance Contracts | Individual Retirement | As Previously Reported
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					2,359
Long-Duration Insurance Contracts | Individual Retirement | Effect of Change
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					2,062
Long-Duration Insurance Contracts | Group Retirement
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					1,094
Long-Duration Insurance Contracts | Group Retirement | As Previously Reported
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					560
Long-Duration Insurance Contracts | Group Retirement | Effect of Change
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					534
Long-Duration Insurance Contracts | Life Insurance
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					4,918
Long-Duration Insurance Contracts | Life Insurance | As Previously Reported
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					4,371
Long-Duration Insurance Contracts | Life Insurance | Effect of Change
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					547
Long-Duration Insurance Contracts | Institutional Markets
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					33
Long-Duration Insurance Contracts | Institutional Markets | As Previously Reported
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					26
Long-Duration Insurance Contracts | Institutional Markets | Effect of Change
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					7
Long-Duration Insurance Contracts | General Insurance
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost					$ 2,500

Deferred Policy Acquisition C_4

Deferred Policy Acquisition Costs - Rollforward of DAC (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 12,857	$ 13,001
Capitalization	1,689	1,402
Amortization expense	(1,293)	(1,137)
Other, including foreign exchange	51	(47)
Balance, end of year	13,304	13,219
General Insurance
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	2,310	2,428
Capitalization	1,358	1,129
Amortization expense	(1,034)	(893)
Other, including foreign exchange	40	(16)
Balance, end of year	2,674	2,648
Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	4,597	4,553
Capitalization	187	143
Amortization expense	(137)	(118)
Other, including foreign exchange	0	0
Balance, end of year	4,647	4,578
Group Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	1,060	1,078
Capitalization	20	15
Amortization expense	(21)	(19)
Other, including foreign exchange	0	0
Balance, end of year	1,059	1,074
Life Insurance
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	4,839	4,904
Capitalization	120	112
Amortization expense	(99)	(106)
Other, including foreign exchange	11	(30)
Balance, end of year	4,871	4,880
Institutional Markets
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	51	38
Capitalization	4	3
Amortization expense	(2)	(1)
Other, including foreign exchange	0	(1)
Balance, end of year	$ 53	$ 39

Deferred Policy Acquisition C_5

Deferred Policy Acquisition Costs - Rollforward of DSI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 01, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies [Line Items]
Aggregate carrying amount in the Condensed Consolidated Balance Sheets	$ 13,304		$ 12,857	$ 12,955
Other assets, excluding DSI	12,400	$ 12,600			$ 12,800
Deferred Sale Inducements
Summary of Significant Accounting Policies [Line Items]
Balance, beginning of year	558	619
Capitalization	2	2
Amortization expense	(17)	(17)
Balance, end of period	543	604
Deferred Sale Inducements | Individual Retirement
Summary of Significant Accounting Policies [Line Items]
Balance, beginning of year	381	428
Capitalization	2	2
Amortization expense	(14)	(13)
Balance, end of period	369	417
Deferred Sale Inducements | Group Retirement
Summary of Significant Accounting Policies [Line Items]
Balance, beginning of year	177	191
Capitalization	0	0
Amortization expense	(3)	(4)
Balance, end of period	$ 174	$ 187

Variable Interest Entities - Co

Variable Interest Entities - Consolidated VIEs (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023		Dec. 31, 2022		Mar. 31, 2022	Jan. 01, 2021
Assets:
Bonds available for sale	[1]	$ 229,397		$ 226,156
Other bond securities, at fair value (See Note 5)	[1]	4,762		4,485
Equity securities	[1]	591		575
Mortgage and other loans receivable	[1]	50,830		49,605
Investment real estate		2,199		2,153
Short-term investments	[1]	13,253		12,376
Cash		1,923	[1]	2,043	[1]	$ 2,537
Accrued investment income	[1]	2,451		2,376
Other assets		12,967	[1]	12,384	[1]		$ 13,520
Total assets		536,627		522,228			598,841
Liabilities:
Other		28,595	[1]	26,757	[1]		27,520
Total liabilities		490,321		478,774			$ 532,906
Real Estate and Investment Entities
Liabilities:
Off-balance sheet exposure associated with VIEs		2,000		2,100
Real Estate and Investment Entities | External parties
Liabilities:
Off-balance sheet exposure associated with VIEs		500		600
Consolidated VIE
Assets:
Bonds available for sale		1,627		3,672
Equity securities		40		51
Mortgage and other loans receivable		2,165		2,221
Alternative investments		2,840		2,842
Investment real estate		1,766		1,731
Short-term investments		356		472
Cash		96		71
Accrued investment income		7		9
Other assets		140		172
Total assets		9,037		11,241
Liabilities:
Debt of consolidated investment entities		3,758		5,694
Other		125		132
Total liabilities		3,883		5,826
Consolidated VIE | Real Estate and Investment Entities
Assets:
Bonds available for sale		0		0
Equity securities		40		51
Mortgage and other loans receivable		0		0
Alternative investments		2,840		2,842
Investment real estate		1,766		1,731
Short-term investments		190		191
Cash		96		71
Accrued investment income		0		0
Other assets		134		102
Total assets		5,066		4,988
Liabilities:
Debt of consolidated investment entities		1,339		1,358
Other		96		85
Total liabilities		1,435		1,443
Consolidated VIE | Securitization Vehicles(e)
Assets:
Bonds available for sale		1,627		3,672
Equity securities		0		0
Mortgage and other loans receivable		2,165		2,221
Alternative investments		0		0
Investment real estate		0		0
Short-term investments		166		281
Cash		0		0
Accrued investment income		7		9
Other assets		6		70
Total assets		3,971		6,253
Liabilities:
Debt of consolidated investment entities		2,419		4,336
Other		29		47
Total liabilities		2,448		4,383
Unconsolidated VIE
Assets:
Total assets		502,728		505,521
Liabilities:
Off-balance sheet exposure associated with VIEs		4,643		$ 4,685
Unconsolidated VIE | Securitization Vehicles(e)
Assets:
Total assets		2,100
Liabilities:
Total liabilities		1,900
Pre-tax loss on deconsolidation		$ 5
[1]See Note 9 for details of balances associated with variable interest entities.

Variable Interest Entities - Un

Variable Interest Entities - Unconsolidated VIEs (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022	Jan. 01, 2021
VARIABLE INTEREST ENTITY
Total assets		$ 536,627	$ 522,228	$ 598,841
Other invested assets	[1]	16,104	15,953
Unconsolidated VIE
VARIABLE INTEREST ENTITY
Total assets		502,728	505,521
Maximum exposure to loss, On-Balance Sheet		9,372	9,392
Maximum exposure to loss, Off-Balance Sheet		4,643	4,685
Total		14,015	14,077
Other invested assets		9,300	9,300
Unconsolidated VIE | AIG Financial Products
VARIABLE INTEREST ENTITY
Total assets		2,104	2,057
Maximum exposure to loss, Off-Balance Sheet		2,080	2,033
Unconsolidated VIE | Real Estate and Investment Entities
VARIABLE INTEREST ENTITY
Total assets		501,701	504,219
Maximum exposure to loss, On-Balance Sheet		9,314	9,145
Maximum exposure to loss, Off-Balance Sheet		3,895	3,938
Total		13,209	13,083
Unconsolidated VIE | Other Investment Companies
VARIABLE INTEREST ENTITY
Total assets		1,027	1,302
Maximum exposure to loss, On-Balance Sheet		58	247
Maximum exposure to loss, Off-Balance Sheet		748	747
Total		$ 806	$ 994
[1]See Note 9 for details of balances associated with variable interest entities.

Variable Interest Entities - Re

Variable Interest Entities - Real Estate and Investments Entities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Jan. 01, 2021
VARIABLE INTEREST ENTITY
Total assets	$ 536,627	$ 522,228	$ 598,841
Unconsolidated VIE
VARIABLE INTEREST ENTITY
Total assets	502,728	505,521
Exposure to loss	14,015	14,077
Off-balance sheet exposure associated with VIEs	4,643	4,685
Unconsolidated VIE | AIG Financial Products
VARIABLE INTEREST ENTITY
Total assets	2,104	2,057
Off-balance sheet exposure associated with VIEs	$ 2,080	$ 2,033

Derivatives and Hedge Account_3

Derivatives and Hedge Accounting - Notional amounts and fair values of derivative instruments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Gross Derivative Assets
Notional Amount	$ 117,066	$ 133,721
Fair Value	4,791	6,049
Counterparty netting	(2,382)	(3,895)
Cash Collateral	(1,793)	(1,640)
Total derivative assets	616	514
Gross Derivative Liabilities
Notional Amount	63,586	56,805
Fair Value	3,948	6,043
Counterparty netting	(2,382)	(3,895)
Cash Collateral	(1,311)	(1,917)
Total derivative liabilities on consolidated balance sheet	255	231
Bifurcated embedded derivatives assets, fair value	1,900	2,200
Bifurcated embedded derivative liabilities, fair value	6,100	5,400
Derivatives designated as hedging instruments | Interest rate contracts
Gross Derivative Assets
Notional Amount	671	251
Fair Value	388	355
Gross Derivative Liabilities
Notional Amount	1,652	1,688
Fair Value	44	66
Derivatives designated as hedging instruments | Foreign exchange contracts
Gross Derivative Assets
Notional Amount	4,500	4,543
Fair Value	573	642
Gross Derivative Liabilities
Notional Amount	4,717	4,899
Fair Value	230	317
Derivatives not designated as hedging instruments | Interest rate contracts
Gross Derivative Assets
Notional Amount	25,756	39,833
Fair Value	2,014	3,367
Gross Derivative Liabilities
Notional Amount	39,840	34,128
Fair Value	3,001	4,772
Derivatives not designated as hedging instruments | Foreign exchange contracts
Gross Derivative Assets
Notional Amount	10,505	8,626
Fair Value	1,079	1,202
Gross Derivative Liabilities
Notional Amount	9,510	10,397
Fair Value	573	821
Derivatives not designated as hedging instruments | Equity contracts
Gross Derivative Assets
Notional Amount	27,092	31,264
Fair Value	683	428
Gross Derivative Liabilities
Notional Amount	6,930	4,740
Fair Value	60	26
Derivatives not designated as hedging instruments | Commodity contracts
Gross Derivative Assets
Notional Amount	80	212
Fair Value	7	9
Gross Derivative Liabilities
Notional Amount	5	20
Fair Value	0	0
Derivatives not designated as hedging instruments | Credit contracts
Gross Derivative Assets
Notional Amount	1,810	1,808
Fair Value	33	32
Gross Derivative Liabilities
Notional Amount	932	933
Fair Value	40	41
Derivatives not designated as hedging instruments | Credit contracts | CDS
Gross Derivative Liabilities
Notional Amount	78	79
Fair Value	32	32
Derivatives not designated as hedging instruments | Other contracts
Gross Derivative Assets
Notional Amount	46,652	47,184
Fair Value	14	14
Gross Derivative Liabilities
Notional Amount	0	0
Fair Value	$ 0	$ 0

Derivatives and Hedge Account_4

Derivatives and Hedge Accounting - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Credit derivatives:
Collateral posted	$ 2,500,000,000		$ 2,900,000,000
Collateral obtained from third parties for derivative transactions	2,200,000,000		2,000,000,000
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	(25,000,000)	$ 87,000,000
Par value of hybrid securities	42,000,000		42,000,000
Maximum
Credit derivatives:
Fair value of hybrid securities	1,000,000		1,000,000
Credit Risk Related Contingent Features
Credit derivatives:
Collateral posted	34,000,000		34,000,000
Additional collateral postings and termination payments	6,000,000
Aggregate fair value of net liability position	$ 32,000,000		$ 32,000,000

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
	Mar. 31, 2023	Mar. 31, 2022
Interest rate contracts | Interest credited to policyholder account balances
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	$ 43	$ (21)
Gains/(losses) recognized in earnings for excluded components	0	0
Gains/(losses) recognized in earnings for hedged items	(47)	23
Net Impact	(4)	2
Interest rate contracts | Net investment income
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	0	1
Gains/(losses) recognized in earnings for excluded components	0	0
Gains/(losses) recognized in earnings for hedged items	0	(1)
Net Impact	0	0
Foreign exchange contracts
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	(130)	109
Gains/(losses) recognized in earnings for excluded components	76	42
Gains/(losses) recognized in earnings for hedged items	130	(109)
Net Impact	$ 76	$ 42

Derivatives and Hedge Account_6

Derivatives and Hedge Accounting - Derivatives not designated as hedging instruments (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (1,610)	$ 3,411
Policy fees
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	16	15
Net investment income - excluding Fortitude Re funds withheld assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ 0	$ (1)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net Investment Income	Net Investment Income	Net Investment Income
Net Investment Income - Fortitude Re Funds Withheld Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (2)	$ 0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net Investment Income	Net Investment Income	Net Investment Income
Net realized gains (losses) - Excluding Fortitude Re Funds Withheld Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (391)	$ 607
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total net realized gains (losses)	Total net realized gains (losses)	Total net realized gains (losses)
Net Realized Gains (Losses) On Fortitude Re funds Withheld Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (1,127)	$ 3,262
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total net realized gains (losses)	Total net realized gains (losses)	Total net realized gains (losses)
Policyholder benefits and claims incurred
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ 3	$ (7)
Change in the fair value of market risk benefits
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(109)	(465)
Interest rate contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	95	(613)
Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(101)	236
Equity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(78)	(204)
Commodity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	7	(4)
Credit contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(1)	(1)
Other contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	16	18
Embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (1,548)	$ 3,979

Insurance Liabilities - Narrati

Insurance Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 20, 2017
Liability for Future Policy Benefit, by Product Segment [Line Items]
Contractual deductible recoverable amount	$ 12,500		$ 12,100
Collateral held for deductible recoverable amounts	8,700		8,600
Liability for unpaid losses and loss adjustment expenses, allowance for credit losses	14		14
Prior years, excluding discount and amortization of deferred gain	27	$ 51
Net loss reserve discount	$ 1,284		1,278
Tabular discount rate (as a percent)	45%
Workers compensation tabular discount amount	$ 332		314
Workers compensation non tabular discount amount	952		$ 964
Net loss reserve discount charge	$ (64)	20
New York
Liability for Future Policy Benefit, by Product Segment [Line Items]
Nontabular discount rate (as a percent)	5%
NICO
Liability for Future Policy Benefit, by Product Segment [Line Items]
Amortization of deferred gain on retroactive reinsurance	$ 53	38
U.S. Run-Off Long Tail Insurance Lines | NICO | Accident Years 2015 and Prior
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
Term Life Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Increase in reserves	$ 7	$ 8

Insurance Liabilities - Liabili

Insurance Liabilities - Liability for unpaid losses and loss adjustment expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid loss and loss adjustment expenses, beginning of year	$ 75,167	$ 79,026
Reinsurance recoverable	(32,102)	(35,213)
Net Liability for unpaid loss and loss adjustment expenses, beginning of year	43,065	43,813
Losses and loss adjustment expenses incurred:
Current year	3,784	3,882
Prior years, excluding discount and amortization of deferred gain	(27)	(51)
Prior years, discount charge (benefit)	94	4
Prior years, amortization of deferred gain on retroactive reinsurance	(60)	(42)
Total losses and loss adjustment expenses incurred	3,791	3,793
Losses and loss adjustment expenses paid:
Current year	(289)	(323)
Prior years	(3,549)	(3,442)
Total losses and loss adjustment expenses paid	(3,838)	(3,765)
Other changes:
Foreign exchange effect	397	4
Retroactive reinsurance adjustment (net of discount)	12	17
Total other changes	409	21
Net liability for unpaid losses and loss adjustment expenses	43,427	43,862
Reinsurance recoverable	32,366	34,321
Total	75,793	78,183
Change in discount on loss reserves ceded under retroactive reinsurance	70	39
National Indemnity Company
Losses and loss adjustment expenses incurred:
Prior years, amortization of deferred gain on retroactive reinsurance	$ 7	$ 4

Insurance Liabilities - Discoun

Insurance Liabilities - Discounting of reserves (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Discounting of Reserves [Line Items]
U.S. workers' compensation	$ 2,468,000,000		$ 2,532,000,000
Retroactive reinsurance	(1,184,000,000)		(1,254,000,000)
Total reserve discount	1,284,000,000		1,278,000,000
Fortitude RE
Discounting of Reserves [Line Items]
Total reserve discount	$ 755,000,000		763,000,000
Discount ceded on sale (as a percent)	100%	100%
United Kingdom
Discounting of Reserves [Line Items]
Total reserve discount	$ 139,000,000		$ 135,000,000

Insurance Liabilities - Net los

Insurance Liabilities - Net loss reserve discount benefit (charge) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net Loss Reserve Discount Benefit (Charge) [Line Items]
Current accident year	$ 30	$ 24
Accretion and other adjustments to prior year discount	(94)	(4)
Net reserve discount benefit (charge)	(64)	20
Change in discount on loss reserves ceded under retroactive reinsurance	70	39
Net change in total reserve discount	6	59
United Kingdom
Net Loss Reserve Discount Benefit (Charge) [Line Items]
Net change in total reserve discount	$ 4	$ 2

Insurance Liabilities - Future

Insurance Liabilities - Future Policy Benefits (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits	$ 60,838	$ 57,886	$ 63,435	$ 70,643	$ 56,369
Adjustments		0		0
Fortitude RE
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits					11,000
Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					1,769
Deferred profit liability					1,698
Unexpired Risk Reserve
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					1,795
Deferred profit liability					248
Individual Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits	1,296	1,223	1,287	1,373	1,322
Adjustments		0		0
Individual Retirement | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					67
Deferred profit liability					65
Group Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits	213	211	241	264	279
Adjustments		0		0
Group Retirement | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					8
Deferred profit liability					8
Life Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits	21,892	21,179	24,826	27,442	14,125
Adjustments		0		0
Life Insurance | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					5
Deferred profit liability					0
Life Insurance | Unexpired Risk Reserve
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					1,661
Deferred profit liability					248
Institutional Markets
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits	14,277	12,464	12,502	13,890	11,630
Adjustments		0		0
Institutional Markets | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					830
Deferred profit liability					766
Institutional Markets | Unexpired Risk Reserve
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					2
Deferred profit liability					0
Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits	$ 20,898	20,429	$ 24,579	27,674	29,013
Adjustments		$ 0		$ 0
Other Operations before consolidation and eliminations | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					859
Deferred profit liability					859
Other Operations before consolidation and eliminations | Unexpired Risk Reserve
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					132
Deferred profit liability					0
Other Operations before consolidation and eliminations | Unexpired Risk Reserve | Fortitude RE
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					2,000
As Previously Reported
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits					45,955
As Previously Reported | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					71
As Previously Reported | Unexpired Risk Reserve
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					1,547
As Previously Reported | Individual Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits					1,309
As Previously Reported | Individual Retirement | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					2
As Previously Reported | Group Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits					282
As Previously Reported | Group Retirement | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					0
As Previously Reported | Life Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits					11,129
As Previously Reported | Life Insurance | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					5
As Previously Reported | Life Insurance | Unexpired Risk Reserve
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					1,413
As Previously Reported | Institutional Markets
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits					11,029
As Previously Reported | Institutional Markets | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					64
As Previously Reported | Institutional Markets | Unexpired Risk Reserve
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					2
As Previously Reported | Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits					22,206
As Previously Reported | Other Operations before consolidation and eliminations | Long-Duration Insurance Contracts
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					0
As Previously Reported | Other Operations before consolidation and eliminations | Unexpired Risk Reserve
Liability for Future Policy Benefit, by Product Segment [Line Items]
Deferred profit liability before reinsurance					132
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Change In Deferred Profit Liability
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(1,698)
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Change In Deferred Profit Liability | Individual Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(65)
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Change In Deferred Profit Liability | Group Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(8)
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Change In Deferred Profit Liability | Life Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					0
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Change In Deferred Profit Liability | Institutional Markets
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(766)
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Change In Deferred Profit Liability | Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(859)
Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Loss Contracts Under Modified Retrospective Approach
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					62
Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Loss Contracts Under Modified Retrospective Approach | Individual Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(14)
Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Loss Contracts Under Modified Retrospective Approach | Group Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					2
Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Loss Contracts Under Modified Retrospective Approach | Life Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					15
Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Loss Contracts Under Modified Retrospective Approach | Institutional Markets
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					4
Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Loss Contracts Under Modified Retrospective Approach | Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					55
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Remeasurement Of Liability At Current Single A Rate
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					12,462
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Remeasurement Of Liability At Current Single A Rate | Individual Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					156
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Remeasurement Of Liability At Current Single A Rate | Group Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					63
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Remeasurement Of Liability At Current Single A Rate | Life Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					2,977
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Remeasurement Of Liability At Current Single A Rate | Institutional Markets
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					1,655
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Remeasurement Of Liability At Current Single A Rate | Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					7,611
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Adjustments To The Removal Of Loss Recognition Balances Related To Securities
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(412)
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Adjustments To The Removal Of Loss Recognition Balances Related To Securities | Individual Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(64)
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Adjustments To The Removal Of Loss Recognition Balances Related To Securities | Group Retirement
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(60)
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Adjustments To The Removal Of Loss Recognition Balances Related To Securities | Life Insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					4
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Adjustments To The Removal Of Loss Recognition Balances Related To Securities | Institutional Markets
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					(292)
Effect Of Application Of Accounting Standards Update 2018-12, Effect Of Adjustments To The Removal Of Loss Recognition Balances Related To Securities | Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, by Product Segment [Line Items]
Adjustments					$ 0

Insurance Liabilities - Balance

Insurance Liabilities - Balances of changes in liability for future policy benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 14,574	$ 15,643
Effect of changes in discount rate assumptions (AOCI)	2,200	(856)
Beginning balance at original discount rate	16,774	14,787
Effect of changes in cash flow assumptions			$ 0	$ 0
Effect of actual variances from expected experience			6	31
Adjusted beginning of year balance	16,780	14,818
Issuances	364	379
Interest accrual	129	113
Net premium collected	(446)	(389)
Foreign exchange impact	88	(140)
Other	3	0
Ending balance at original discount rate	16,918	14,781
Effect of changes in discount rate assumptions (AOCI)	(2,049)	(284)
Balance, end of period	14,869	14,497
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	57,886	70,643
Effect of changes in discount rate assumptions (AOCI)	7,672	(9,401)
Beginning balance at original discount rate	65,558	61,242
Adjustments			0	0
Effect of actual variances from expected experience			15	22
Adjusted beginning of year balance	65,573	61,264
Issuances	1,879	655
Interest accrual	648	601
Benefit payments	(1,182)	(1,139)
Foreign exchange impact	392	(271)
Other	(2)	0
Ending balance at original discount rate	67,308	61,110
Effect of changes in discount rate assumptions (AOCI)	(6,470)	2,325
Ending balance	60,838	63,435
Net liability for future policy benefits, end of period	45,969	48,938
Liability for future policy benefits for certain participating contracts	1,340	1,386
Liability for universal life policies with secondary guarantees and similar features	3,512	4,223
Deferred profit liability	2,396	2,232
Other reconciling items	1,629	2,528
Future policy benefits for life and accident and health insurance contracts	54,846	59,307	51,914		$ 67,364
Less: Reinsurance recoverable:	(24,266)	(29,342)
Net liability for future policy benefits after reinsurance recoverable	30,580	29,965
Individual Retirement
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	0	0
Effect of changes in discount rate assumptions (AOCI)	0	0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			1	0
Adjusted beginning of year balance	1	0
Issuances	6	4
Interest accrual	0	0
Net premium collected	(7)	(4)
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	0	0
Effect of changes in discount rate assumptions (AOCI)	0	0
Balance, end of period	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	1,223	1,373
Effect of changes in discount rate assumptions (AOCI)	167	(95)
Beginning balance at original discount rate	1,390	1,278
Adjustments			0	0
Effect of actual variances from expected experience			(3)	1
Adjusted beginning of year balance	1,387	1,279
Issuances	70	50
Interest accrual	12	10
Benefit payments	(32)	(28)
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	1,437	1,311
Effect of changes in discount rate assumptions (AOCI)	(141)	(24)
Ending balance	1,296	1,287
Net liability for future policy benefits, end of period	$ 1,296	$ 1,287
Weighted average liability duration of the liability for future policy benefits (in years)	7 years 8 months 12 days	8 years 1 month 6 days
Group Retirement
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 0	$ 0
Effect of changes in discount rate assumptions (AOCI)	0	0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0	0
Adjusted beginning of year balance	0	0
Issuances	0	0
Interest accrual	0	0
Net premium collected	0	0
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	0	0
Effect of changes in discount rate assumptions (AOCI)	0	0
Balance, end of period	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	211	264
Effect of changes in discount rate assumptions (AOCI)	2	(46)
Beginning balance at original discount rate	213	218
Adjustments			0	0
Effect of actual variances from expected experience			(1)	(2)
Adjusted beginning of year balance	212	216
Issuances	2	5
Interest accrual	3	3
Benefit payments	(7)	(8)
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	210	216
Effect of changes in discount rate assumptions (AOCI)	3	25
Ending balance	213	241
Net liability for future policy benefits, end of period	$ 213	$ 241
Weighted average liability duration of the liability for future policy benefits (in years)	7 years 1 month 6 days	7 years 4 months 24 days
Life Insurance
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 11,654	$ 14,369
Effect of changes in discount rate assumptions (AOCI)	1,872	(706)
Beginning balance at original discount rate	13,526	13,663
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			12	29
Adjusted beginning of year balance	13,538	13,692
Issuances	322	375
Interest accrual	106	100
Net premium collected	(352)	(355)
Foreign exchange impact	96	(140)
Other	3	0
Ending balance at original discount rate	13,713	13,672
Effect of changes in discount rate assumptions (AOCI)	(1,648)	(339)
Balance, end of period	12,065	13,333
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	21,179	27,442
Effect of changes in discount rate assumptions (AOCI)	3,424	(2,717)
Beginning balance at original discount rate	24,603	24,725
Adjustments			0	0
Effect of actual variances from expected experience			26	38
Adjusted beginning of year balance	24,629	24,763
Issuances	318	374
Interest accrual	224	221
Benefit payments	(476)	(523)
Foreign exchange impact	277	(178)
Other	1	(1)
Ending balance at original discount rate	24,973	24,656
Effect of changes in discount rate assumptions (AOCI)	(3,081)	170
Ending balance	21,892	24,826
Net liability for future policy benefits, end of period	$ 9,827	$ 11,493
Weighted average liability duration of the liability for future policy benefits (in years)	12 years 4 months 24 days	13 years 7 months 6 days
Institutional Markets
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 0	$ 0
Effect of changes in discount rate assumptions (AOCI)	0	0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0	0
Adjusted beginning of year balance	0	0
Issuances	0	0
Interest accrual	0	0
Net premium collected	0	0
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	0	0
Effect of changes in discount rate assumptions (AOCI)	0	0
Balance, end of period	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	12,464	13,890
Effect of changes in discount rate assumptions (AOCI)	2,634	(870)
Beginning balance at original discount rate	15,098	13,020
Adjustments			0	0
Effect of actual variances from expected experience			(5)	(5)
Adjusted beginning of year balance	15,093	13,015
Issuances	1,450	223
Interest accrual	139	105
Benefit payments	(228)	(198)
Foreign exchange impact	125	(93)
Other	0	1
Ending balance at original discount rate	16,579	13,053
Effect of changes in discount rate assumptions (AOCI)	(2,302)	(551)
Ending balance	14,277	12,502
Net liability for future policy benefits, end of period	$ 14,277	$ 12,502
Weighted average liability duration of the liability for future policy benefits (in years)	11 years 6 months	12 years 1 month 6 days
Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 991	$ 1,274
Effect of changes in discount rate assumptions (AOCI)	66	(150)
Beginning balance at original discount rate	1,057	1,124
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			3	2
Adjusted beginning of year balance	1,060	1,126
Issuances	0	0
Interest accrual	12	13
Net premium collected	(30)	(30)
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	1,042	1,109
Effect of changes in discount rate assumptions (AOCI)	(48)	55
Balance, end of period	994	1,164
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	20,429	27,674
Effect of changes in discount rate assumptions (AOCI)	1,083	(5,673)
Beginning balance at original discount rate	21,512	22,001
Adjustments			0	0
Effect of actual variances from expected experience			0	$ (10)
Adjusted beginning of year balance	21,512	21,991
Issuances	3	3
Interest accrual	257	262
Benefit payments	(379)	(382)
Foreign exchange impact	0	0
Other	(3)	0
Ending balance at original discount rate	21,390	21,874
Effect of changes in discount rate assumptions (AOCI)	(492)	2,705
Ending balance	20,898	24,579
Net liability for future policy benefits, end of period	$ 19,904	$ 23,415
Weighted average liability duration of the liability for future policy benefits (in years)	11 years 7 months 6 days	12 years 9 months 18 days
General Insurance
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	$ 1,929
Effect of changes in discount rate assumptions (AOCI)	262
Beginning balance at original discount rate	2,191
Effect of changes in cash flow assumptions			0
Effect of actual variances from expected experience			(10)
Adjusted beginning of year balance	2,181
Issuances	36
Interest accrual	11
Net premium collected	(57)
Foreign exchange impact	(8)
Other	0
Ending balance at original discount rate	2,163
Effect of changes in discount rate assumptions (AOCI)	(353)
Balance, end of period	1,810
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	2,380
Effect of changes in discount rate assumptions (AOCI)	362
Beginning balance at original discount rate	2,742
Adjustments			0
Effect of actual variances from expected experience			$ (2)
Adjusted beginning of year balance	2,740
Issuances	36
Interest accrual	13
Benefit payments	(60)
Foreign exchange impact	(10)
Other	0
Ending balance at original discount rate	2,719
Effect of changes in discount rate assumptions (AOCI)	(457)
Ending balance	2,262
Net liability for future policy benefits, end of period	$ 452
Weighted average liability duration of the liability for future policy benefits (in years)	10 years

Insurance Liabilities - Expecte

Insurance Liabilities - Expected future benefits, expenses, and gross premiums (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
General Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefits and expense	$ 3,350	$ 3,318
Expected future gross premiums	4,616	4,590
Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefits and expense	2,048	1,757
Expected future gross premiums	0	0
Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefits and expense	317	317
Expected future gross premiums	0	0
Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefits and expense	39,028	38,739
Expected future gross premiums	28,964	29,125
Institutional Markets
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefits and expense	29,029	20,824
Expected future gross premiums	0	0
Other Operations
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefits and expense	44,148	45,468
Expected future gross premiums	$ 2,225	$ 2,389

Insurance Liabilities - Income

Insurance Liabilities - Income statement information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	$ 2,386	$ 1,038
Interest accretion	518	489
Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	309	302
Interest accretion	29	35
General Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	95	97
Interest accretion	1	1
Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	75	51
Interest accretion	12	10
Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	6	8
Interest accretion	3	3
Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	575	582
Interest accretion	118	121
Life Insurance | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	299	292
Interest accretion	28	34
Institutional Markets
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	1,581	244
Interest accretion	139	105
Other Operations before consolidation and eliminations | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	10	10
Interest accretion	1	1
Legacy Insurance Lines Segment
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	54	56
Interest accretion	$ 245	$ 249

Insurance Liabilities - Weighte

Insurance Liabilities - Weighted-average interest rates (Details)	Mar. 31, 2023	Mar. 31, 2022
General Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	1.78%	1.79%
Weighted-average interest rate, current discount rate	3.64%	2.67%
Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	3.65%	3.04%
Weighted-average interest rate, current discount rate	5.33%	3.72%
Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	5.19%	4.70%
Weighted-average interest rate, current discount rate	4.91%	3.68%
Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	4.11%	4.12%
Weighted-average interest rate, current discount rate	5.08%	3.72%
Life Insurance | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, current discount rate	3.76%	3.75%
Institutional Markets
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	3.76%	3.23%
Weighted-average interest rate, current discount rate	5.04%	3.59%
Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	4.88%	4.80%
Weighted-average interest rate, current discount rate	5.10%	3.92%
Other Operations before consolidation and eliminations | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, current discount rate	4.24%	4.20%

Insurance Liabilities - Schedul

Insurance Liabilities - Schedule of liabilities by product (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts	$ 54,846	$ 59,307	$ 51,914		$ 67,364
Effect of changes in cash flow assumptions			0	$ 0
Effect of actual variances from expected experience			6	31
Adjusted beginning of year balance			16,780	14,818
Issuances	364	379
Interest accrual	129	113
Other	3	0
Less: Reinsurance recoverable:	(24,266)	(29,342)
Net liability for future policy benefits after reinsurance recoverable	30,580	29,965
As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts			59,223		$ 56,878
Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts	3,512	4,223	3,355	5,007		$ 5,172
Effect of actual variances from expected experience			73	107
Adjusted beginning of year balance			3,428	5,114
Assessments	179	168
Excess benefits paid	(238)	(290)
Interest accrual	29	35
Other	(5)	(7)
Changes related to unrealized appreciation (depreciation) of investments	119	(797)
Less: Reinsurance recoverable:	(192)	(198)
Net liability for future policy benefits after reinsurance recoverable	3,320	4,025
Universal Life | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						6,816
Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						(1,039)
Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Reclass URGL Impacts To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						(605)
Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			12	29
Adjusted beginning of year balance			13,538	13,692
Issuances	322	375
Interest accrual	106	100
Other	$ 3	$ 0
Weighted average liability duration of the liability for future policy benefits (in years)	12 years 4 months 24 days	13 years 7 months 6 days
Life Insurance | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts	$ 3,457	$ 4,168	3,300	4,952		5,117
Effect of actual variances from expected experience			74	108
Adjusted beginning of year balance			3,374	5,060
Assessments	179	168
Excess benefits paid	(238)	(290)
Interest accrual	28	34
Other	(5)	(7)
Changes related to unrealized appreciation (depreciation) of investments	119	(797)
Less: Reinsurance recoverable:	(192)	(198)
Net liability for future policy benefits after reinsurance recoverable	$ 3,265	$ 3,970
Weighted average liability duration of the liability for future policy benefits (in years)	26 years 4 months 24 days	27 years 1 month 6 days
Life Insurance | Universal Life | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						5,117
Life Insurance | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Life Insurance | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Reclass URGL Impacts To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			1	0
Adjusted beginning of year balance			1	0
Issuances	$ 6	$ 4
Interest accrual	0	0
Other	$ 0	$ 0
Weighted average liability duration of the liability for future policy benefits (in years)	7 years 8 months 12 days	8 years 1 month 6 days
Individual Retirement | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Individual Retirement | Universal Life | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						1,423
Individual Retirement | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						(907)
Individual Retirement | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Reclass URGL Impacts To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						(516)
Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0	0
Adjusted beginning of year balance			0	0
Issuances	$ 0	$ 0
Interest accrual	0	0
Other	$ 0	$ 0
Weighted average liability duration of the liability for future policy benefits (in years)	7 years 1 month 6 days	7 years 4 months 24 days
Group Retirement | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Group Retirement | Universal Life | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						221
Group Retirement | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						(132)
Group Retirement | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Reclass URGL Impacts To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						(89)
Institutional Markets | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Institutional Markets | Universal Life | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Institutional Markets | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Institutional Markets | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Reclass URGL Impacts To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			3	2
Adjusted beginning of year balance			1,060	1,126
Issuances	$ 0	$ 0
Interest accrual	12	13
Other	$ 0	$ 0
Weighted average liability duration of the liability for future policy benefits (in years)	11 years 7 months 6 days	12 years 9 months 18 days
Other Operations before consolidation and eliminations | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts	$ 55	$ 55	55	55		55
Effect of actual variances from expected experience			(1)	(1)
Adjusted beginning of year balance			$ 54	$ 54
Assessments	0	0
Excess benefits paid	0	0
Interest accrual	1	1
Other	0	0
Changes related to unrealized appreciation (depreciation) of investments	0	0
Less: Reinsurance recoverable:	0	0
Net liability for future policy benefits after reinsurance recoverable	$ 55	$ 55
Weighted average liability duration of the liability for future policy benefits (in years)	9 years 4 months 24 days	9 years 9 months 18 days
Other Operations before consolidation and eliminations | Universal Life | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						55
Other Operations before consolidation and eliminations | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						0
Other Operations before consolidation and eliminations | Universal Life | Effect Of Application Of Accounting Standards Update 2018-12, Adjustments To Reclass URGL Impacts To Market Risk Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts						$ 0

Insurance Liabilities - Summary

Insurance Liabilities - Summary of separate accounts (Details) - Universal Life - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Account value	$ 3,556		$ 3,361
Net amount at risk	$ 70,014		$ 66,220
Average attained age of contract holders by product	53 years	53 years

Insurance Liabilities - Adjustm

Insurance Liabilities - Adjustments to Policyholder Contract Deposits (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Policyholder Account Balance [Line Items]
Policyholder contract deposits	$ 160,003	$ 158,494	$ 154,518	$ 152,809	$ 148,422
Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder contract deposits	91,070	89,554	85,831	84,097	79,203
Group Retirement
Policyholder Account Balance [Line Items]
Policyholder contract deposits	42,903	43,395	43,887	43,902	43,229
Life Insurance
Policyholder Account Balance [Line Items]
Policyholder contract deposits	10,220	10,224	10,192	10,183	10,286
Institutional Markets
Policyholder Account Balance [Line Items]
Policyholder contract deposits	12,294	11,734	10,845	10,804	11,559
Other Operations before consolidation and eliminations
Policyholder Account Balance [Line Items]
Policyholder contract deposits	$ 3,516	$ 3,587	$ 3,763	$ 3,823	4,145
Other Operations
Policyholder Account Balance [Line Items]
Policyholder contract deposits					(199)
As Previously Reported
Policyholder Account Balance [Line Items]
Policyholder contract deposits					154,669
As Previously Reported | Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder contract deposits					84,874
As Previously Reported | Group Retirement
Policyholder Account Balance [Line Items]
Policyholder contract deposits					43,805
As Previously Reported | Life Insurance
Policyholder Account Balance [Line Items]
Policyholder contract deposits					10,286
As Previously Reported | Institutional Markets
Policyholder Account Balance [Line Items]
Policyholder contract deposits					11,559
As Previously Reported | Other Operations before consolidation and eliminations
Policyholder Account Balance [Line Items]
Policyholder contract deposits					4,145
Adjustment for the reclassification of the embedded derivative liability to market risk benefits, net of the host adjustment(s)
Policyholder Account Balance [Line Items]
Policyholder contract deposits					(6,247)
Adjustment for the reclassification of the embedded derivative liability to market risk benefits, net of the host adjustment(s) | Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder contract deposits					(5,671)
Adjustment for the reclassification of the embedded derivative liability to market risk benefits, net of the host adjustment(s) | Group Retirement
Policyholder Account Balance [Line Items]
Policyholder contract deposits					(576)
Adjustment for the reclassification of the embedded derivative liability to market risk benefits, net of the host adjustment(s) | Life Insurance
Policyholder Account Balance [Line Items]
Policyholder contract deposits					0
Adjustment for the reclassification of the embedded derivative liability to market risk benefits, net of the host adjustment(s) | Institutional Markets
Policyholder Account Balance [Line Items]
Policyholder contract deposits					0
Adjustment for the reclassification of the embedded derivative liability to market risk benefits, net of the host adjustment(s) | Other Operations before consolidation and eliminations
Policyholder Account Balance [Line Items]
Policyholder contract deposits					$ 0

Insurance Liabilities - Policyh

Insurance Liabilities - Policyholder contract deposit (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 01, 2021
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	$ 158,494	$ 152,809
Issuances	6,821	5,206
Deposits received	389	402
Policy charges	(771)	(735)
Surrenders and withdrawals	(5,666)	(3,471)
Benefit payments	(1,897)	(1,791)
Net transfers from (to) separate account	1,762	1,145
Interest credited	883	984
Other	(12)	(31)
Policyholder Contract Deposits Account Balance, end of period	160,003	154,518
Other reconciling items	(2,107)	(2,203)
Legacy insurance lines ceded to Fortitude Re	157,896	152,315	$ 155,984	$ 148,223
Cash surrender value(c)	139,467	136,851
Individual Retirement
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	89,554	84,097
Issuances	4,863	3,896
Deposits received	1	3
Policy charges	(244)	(185)
Surrenders and withdrawals	(3,171)	(1,994)
Benefit payments	(1,036)	(1,017)
Net transfers from (to) separate account	728	529
Interest credited	377	500
Other	(2)	2
Policyholder Contract Deposits Account Balance, end of period	91,070	85,831
Other reconciling items	(1,889)	(1,859)
Legacy insurance lines ceded to Fortitude Re	$ 89,181	$ 83,972
Weighted average crediting rate	2.52%	2.36%
Cash surrender value(c)	$ 84,906	$ 80,438
Group Retirement
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	43,395	43,902
Issuances	1,320	1,152
Deposits received	6	8
Policy charges	(110)	(127)
Surrenders and withdrawals	(2,016)	(1,396)
Benefit payments	(557)	(544)
Net transfers from (to) separate account	592	616
Interest credited	270	277
Other	3	(1)
Policyholder Contract Deposits Account Balance, end of period	42,903	43,887
Other reconciling items	(279)	(330)
Legacy insurance lines ceded to Fortitude Re	$ 42,624	$ 43,557
Weighted average crediting rate	2.78%	2.71%
Cash surrender value(c)	$ 41,361	$ 43,193
Life Insurance
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	10,224	10,183
Issuances	49	73
Deposits received	365	369
Policy charges	(384)	(389)
Surrenders and withdrawals	(56)	(45)
Benefit payments	(49)	(69)
Net transfers from (to) separate account	(1)	0
Interest credited	88	101
Other	(16)	(31)
Policyholder Contract Deposits Account Balance, end of period	10,220	10,192
Other reconciling items	116	24
Legacy insurance lines ceded to Fortitude Re	$ 10,336	$ 10,216
Weighted average crediting rate	4.24%	4.23%
Cash surrender value(c)	$ 8,874	$ 8,830
Institutional Markets
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	11,734	10,804
Issuances	586	82
Deposits received	9	13
Policy charges	(17)	(17)
Surrenders and withdrawals	(403)	(22)
Benefit payments	(167)	(72)
Net transfers from (to) separate account	443	3
Interest credited	105	61
Other	4	(7)
Policyholder Contract Deposits Account Balance, end of period	12,294	10,845
Other reconciling items	74	94
Legacy insurance lines ceded to Fortitude Re	$ 12,368	$ 10,939
Weighted average crediting rate	3.55%	2.30%
Cash surrender value(c)	$ 2,545	$ 2,529
Other Operations before consolidation and eliminations
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	3,587	3,823
Issuances	3	3
Deposits received	8	9
Policy charges	(16)	(17)
Surrenders and withdrawals	(20)	(14)
Benefit payments	(88)	(89)
Net transfers from (to) separate account	0	(3)
Interest credited	43	45
Other	(1)	6
Policyholder Contract Deposits Account Balance, end of period	3,516	3,763
Other reconciling items	(129)	(132)
Legacy insurance lines ceded to Fortitude Re	$ 3,387	$ 3,631
Weighted average crediting rate	4.95%	4.88%
Cash surrender value(c)	$ 1,781	$ 1,861

Insurance Liabilities - Account

Insurance Liabilities - Account balances by guaranteed minimum interest rates (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 102,899	$ 102,927
Account balance percentage	100%	100%
At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 61,642	$ 71,268
Account balance percentage	60%	69%
1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 7,399	$ 4,787
Account balance percentage	7%	5%
More than 50 Basis Points Above Minimum Guarantee
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 33,858	$ 26,872
Account balance percentage	33%	26%
Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 57,225	$ 56,062
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	33,601	31,119
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,181	6,134
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	9,546	10,202
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	7,405	8,091
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	456	478
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	36	38
Individual Retirement | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder Account Balance	28,768	33,620
Individual Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	7,776	10,456
Individual Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	3,994	4,428
Individual Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	9,155	10,184
Individual Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	7,359	8,045
Individual Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	452	473
Individual Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	32	34
Individual Retirement | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,627	1,919
Individual Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,562	1,851
Individual Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	24	28
Individual Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1	0
Individual Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	40	40
Individual Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Individual Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Individual Retirement | More than 50 Basis Points Above Minimum Guarantee
Policyholder Account Balance [Line Items]
Policyholder Account Balance	25,830	20,523
Individual Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	23,263	18,812
Individual Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,163	1,678
Individual Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	390	18
Individual Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6	6
Individual Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	4	5
Individual Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	4	4
Group Retirement
Policyholder Account Balance [Line Items]
Policyholder Account Balance	38,324	39,323
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	10,825	10,125
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,266	6,734
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	13,601	14,648
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	658	702
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,821	6,955
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	153	159
Group Retirement | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder Account Balance	28,261	32,630
Group Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,063	3,850
Group Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	5,005	6,316
Group Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	13,561	14,648
Group Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	658	702
Group Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,821	6,955
Group Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	153	159
Group Retirement | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder Account Balance	3,661	2,095
Group Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,713	1,684
Group Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	908	411
Group Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	40	0
Group Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Group Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Group Retirement | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Group Retirement | More than 50 Basis Points Above Minimum Guarantee
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,402	4,598
Group Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,049	4,591
Group Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	353	7
Group Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Group Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Group Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Group Retirement | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Life Insurance
Policyholder Account Balance [Line Items]
Policyholder Account Balance	7,350	7,542
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	480	483
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,969	1,996
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,733	1,781
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,946	3,054
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	222	228
Life Insurance | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder Account Balance	4,613	5,018
Life Insurance | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Life Insurance | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	104
Life Insurance | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	28	246
Life Insurance | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,417	1,388
Life Insurance | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,946	3,052
Life Insurance | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	222	228
Life Insurance | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,111	773
Life Insurance | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Life Insurance | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	131	24
Life Insurance | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	862	540
Life Insurance | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	118	207
Life Insurance | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	2
Life Insurance | 1 Basis Point - 50 Basis Points Above | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Life Insurance | More than 50 Basis Points Above Minimum Guarantee
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,626	1,751
Life Insurance | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Life Insurance | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	349	355
Life Insurance | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,079	1,210
Life Insurance | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	198	186
Life Insurance | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	0	0
Life Insurance | More than 50 Basis Points Above Minimum Guarantee | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 0	$ 0

Insurance Liabilities - Unearne

Insurance Liabilities - Unearned revenue liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 01, 2021
Other Policyholder Funds Rollforward [Roll Forward]
Balance, beginning of year	$ 1,834	$ 1,811
Revenue deferred	38	35
Amortization	(30)	(30)
Balance, end of period	1,842	1,816
Aggregate carrying amount in the Condensed Consolidated Balance Sheets	3,461		$ 3,463	$ 3,796
Life Insurance
Other Policyholder Funds Rollforward [Roll Forward]
Balance, beginning of year	1,727	1,693
Revenue deferred	38	35
Amortization	(27)	(27)
Balance, end of period	1,738	1,701
Institutional Markets
Other Policyholder Funds Rollforward [Roll Forward]
Balance, beginning of year	2	2
Revenue deferred	0	0
Amortization	(1)	0
Balance, end of period	1	2
Other Operations before consolidation and eliminations
Other Policyholder Funds Rollforward [Roll Forward]
Balance, beginning of year	105	116
Revenue deferred	0	0
Amortization	(2)	(3)
Balance, end of period	103	113
Other Operations before consolidation and eliminations | Fortitude RE
Other Policyholder Funds Rollforward [Roll Forward]
Balance, end of period	$ 1,600	$ 1,800

Market Risk Benefits - Balances

Market Risk Benefits - Balances and changes in market risk benefits (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Market Risk Benefit [Line Items]
Market risk benefit	$ 4,403	$ 4,034	$ 5,535	$ 7,034		$ 8,401
Market risk benefit in an asset position						176
Reinsured market risk benefit						162
Market risk benefit assets, at fair value	830	796			$ 338	338
Market risk benefit liabilities, at fair value	5,144	4,736			8,739	8,739
As Previously Reported
Market Risk Benefit [Line Items]
Market risk benefit						0
Market risk benefit assets, at fair value		0			0
Market risk benefit liabilities, at fair value		0			$ 0
Adjustment for the reclassification of the embedded derivative liability from policyholder contract deposits, net of the host adjustment
Market Risk Benefit [Line Items]
Market risk benefit						6,247
Adjustment for the reclassification of additional liabilities from Future policy benefits
Market Risk Benefit [Line Items]
Market risk benefit						1,609
Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date
Market Risk Benefit [Line Items]
Market risk benefit						2,327
Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses)
Market Risk Benefit [Line Items]
Market risk benefit						(605)
Adjustment for the remaining difference (exclusive of our own credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB
Market Risk Benefit [Line Items]
Market risk benefit						(1,177)
Individual Retirement
Market Risk Benefit [Line Items]
Market risk benefit	4,084	3,738	5,090	6,452		7,599
Market risk benefit in an asset position						176
Reinsured market risk benefit						162
Market risk benefit assets, at fair value						338
Market risk benefit liabilities, at fair value						7,937
Individual Retirement | As Previously Reported
Market Risk Benefit [Line Items]
Market risk benefit						0
Individual Retirement | Adjustment for the reclassification of the embedded derivative liability from policyholder contract deposits, net of the host adjustment
Market Risk Benefit [Line Items]
Market risk benefit						5,671
Individual Retirement | Adjustment for the reclassification of additional liabilities from Future policy benefits
Market Risk Benefit [Line Items]
Market risk benefit						1,388
Individual Retirement | Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date
Market Risk Benefit [Line Items]
Market risk benefit						2,140
Individual Retirement | Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses)
Market Risk Benefit [Line Items]
Market risk benefit						(516)
Individual Retirement | Adjustment for the remaining difference (exclusive of our own credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB
Market Risk Benefit [Line Items]
Market risk benefit						(1,084)
Group Retirement
Market Risk Benefit [Line Items]
Market risk benefit	$ 319	$ 296	$ 445	$ 582		802
Market risk benefit in an asset position						0
Reinsured market risk benefit						0
Market risk benefit assets, at fair value						0
Market risk benefit liabilities, at fair value						802
Group Retirement | As Previously Reported
Market Risk Benefit [Line Items]
Market risk benefit						0
Group Retirement | Adjustment for the reclassification of the embedded derivative liability from policyholder contract deposits, net of the host adjustment
Market Risk Benefit [Line Items]
Market risk benefit						576
Group Retirement | Adjustment for the reclassification of additional liabilities from Future policy benefits
Market Risk Benefit [Line Items]
Market risk benefit						221
Group Retirement | Adjustments for the cumulative effect of the changes to our own credit risk between the original contract issuance date and the transition date
Market Risk Benefit [Line Items]
Market risk benefit						187
Group Retirement | Adjustment for the removal of related balances in Accumulated other comprehensive income (loss) originating from unrealized gains (losses)
Market Risk Benefit [Line Items]
Market risk benefit						(89)
Group Retirement | Adjustment for the remaining difference (exclusive of our own credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB
Market Risk Benefit [Line Items]
Market risk benefit						$ (93)

Market Risk Benefits - Rollforw

Market Risk Benefits - Rollforward of market risk benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Market Risk Benefit [Roll Forward]
Balance, beginning of year	$ 4,034	$ 7,034
Balance, beginning of year, before effect of changes in our own credit risk	3,569	4,933
Issuances	200	45
Interest accrual	42	45
Attributed fees	252	216
Expected claims	(26)	(13)
Effect of changes in interest rates	524	(1,506)
Effect of changes in interest rate volatility	(77)	185
Effect of changes in equity markets	(427)	403
Effect of changes in equity index volatility	13	(1)
Actual outcome different from model expected outcome	73	121
Effect of changes in future expected policyholder behavior	0	0
Effect of changes in other future expected assumptions	(112)
Other, including foreign exchange	1	(2)
Balance, end of period, before effect of changes in our own credit risk	4,032	4,426
Effect of changes in our own credit risk	371	1,109
Balance, end of period	4,403	5,535
Less: Reinsured MRB, end of period	(89)	(120)
Net	4,314	5,415
Combined
Net amount at risk
Net amount at risk	1,757	768
GMDB
Net amount at risk
Net amount at risk	1,573	1,089
GMWB
Net amount at risk
Net amount at risk	68	294
Individual Retirement
Market Risk Benefit [Roll Forward]
Balance, beginning of year	3,738	6,452
Balance, beginning of year, before effect of changes in our own credit risk	3,297	4,518
Issuances	191	40
Interest accrual	38	39
Attributed fees	235	197
Expected claims	(25)	(13)
Effect of changes in interest rates	478	(1,381)
Effect of changes in interest rate volatility	(73)	172
Effect of changes in equity markets	(391)	387
Effect of changes in equity index volatility	16	(2)
Actual outcome different from model expected outcome	72	105
Effect of changes in future expected policyholder behavior	0	0
Effect of changes in other future expected assumptions	(94)
Other, including foreign exchange	1	1
Balance, end of period, before effect of changes in our own credit risk	3,745	4,063
Effect of changes in our own credit risk	339	1,027
Balance, end of period	4,084	5,090
Less: Reinsured MRB, end of period	(89)	(120)
Net	$ 3,995	$ 4,970
Net amount at risk
Average attained age of contract holders by product	71 years	70 years
Individual Retirement | Combined
Net amount at risk
Net amount at risk	$ 1,726	$ 752
Individual Retirement | GMDB
Net amount at risk
Net amount at risk	1,307	903
Individual Retirement | GMWB
Net amount at risk
Net amount at risk	63	264
Group Retirement
Market Risk Benefit [Roll Forward]
Balance, beginning of year	296	582
Balance, beginning of year, before effect of changes in our own credit risk	272	415
Issuances	9	5
Interest accrual	4	6
Attributed fees	17	19
Expected claims	(1)	0
Effect of changes in interest rates	46	(125)
Effect of changes in interest rate volatility	(4)	13
Effect of changes in equity markets	(36)	16
Effect of changes in equity index volatility	(3)	1
Actual outcome different from model expected outcome	1	16
Effect of changes in future expected policyholder behavior	0	0
Effect of changes in other future expected assumptions	(18)
Other, including foreign exchange	0	(3)
Balance, end of period, before effect of changes in our own credit risk	287	363
Effect of changes in our own credit risk	32	82
Balance, end of period	319	445
Less: Reinsured MRB, end of period	0	0
Net	$ 319	$ 445
Net amount at risk
Average attained age of contract holders by product	64 years	63 years
Group Retirement | Combined
Net amount at risk
Net amount at risk	$ 31	$ 16
Group Retirement | GMDB
Net amount at risk
Net amount at risk	266	186
Group Retirement | GMWB
Net amount at risk
Net amount at risk	$ 5	$ 30

Market Risk Benefits - Schedule

Market Risk Benefits - Schedule of market risk benefits (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Market Risk Benefit [Line Items]
Asset	$ 830	$ 666
Liability	5,144	6,081
Net	4,314	5,415
Individual Retirement
Market Risk Benefit [Line Items]
Asset	685	524
Liability	4,680	5,494
Net	3,995	4,970
Group Retirement
Market Risk Benefit [Line Items]
Asset	145	142
Liability	464	587
Net	$ 319	$ 445

Separate Account Assets and L_3

Separate Account Assets and Liabilities - Separate account assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Individual Retirement
Fair Value, Separate Account Investment [Line Items]
Value of investment options	$ 46,296	$ 53,338
Individual Retirement | Equity Funds | Equity Funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	23,845	26,931
Individual Retirement | Bond Funds | Bond funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	3,915	4,401
Individual Retirement | Balanced Funds | Balanced funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	17,818	21,402
Individual Retirement | Money Market Funds | Money market funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	718	604
Group Retirement
Fair Value, Separate Account Investment [Line Items]
Value of investment options	35,792	41,342
Group Retirement | Equity Funds | Equity Funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	26,433	30,844
Group Retirement | Bond Funds | Bond funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	3,571	4,176
Group Retirement | Balanced Funds | Balanced funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	5,254	5,866
Group Retirement | Money Market Funds | Money market funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	$ 534	$ 456

Separate Account Assets and L_4

Separate Account Assets and Liabilities - Separate account liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Separate Account, Liability [Roll Forward]
Balance, beginning of year	$ 84,853	$ 109,111
Premiums and deposits	846	1,238
Policy charges	(490)	(486)
Surrenders and withdrawals	(1,923)	(1,656)
Benefit payments	(400)	(406)
Investment performance	4,469	(6,870)
Net transfers from (to) general account	1	(82)
Other charges	1	1
Balance, end of period	87,357	100,850
Cash surrender value	86,076	99,444
Individual Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	45,178	57,927
Premiums and deposits	451	758
Policy charges	(344)	(321)
Surrenders and withdrawals	(844)	(934)
Benefit payments	(215)	(255)
Investment performance	2,131	(3,718)
Net transfers from (to) general account	73	44
Other charges	0	(1)
Balance, end of period	46,430	53,500
Cash surrender value	45,388	52,334
Group Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	34,361	45,138
Premiums and deposits	360	440
Policy charges	(110)	(127)
Surrenders and withdrawals	(669)	(696)
Benefit payments	(130)	(144)
Investment performance	2,186	(2,992)
Net transfers from (to) general account	(77)	(134)
Other charges	(1)	1
Balance, end of period	35,920	41,486
Cash surrender value	35,726	41,263
Life Insurance
Separate Account, Liability [Roll Forward]
Balance, beginning of year	799	1,044
Premiums and deposits	9	10
Policy charges	(12)	(13)
Surrenders and withdrawals	(6)	(6)
Benefit payments	(1)	(2)
Investment performance	53	(73)
Net transfers from (to) general account	(1)	0
Other charges	0	0
Balance, end of period	841	960
Cash surrender value	794	949
Institutional Markets
Separate Account, Liability [Roll Forward]
Balance, beginning of year	4,515	5,002
Premiums and deposits	26	30
Policy charges	(24)	(25)
Surrenders and withdrawals	(404)	(20)
Benefit payments	(54)	(5)
Investment performance	99	(87)
Net transfers from (to) general account	6	8
Other charges	2	1
Balance, end of period	4,166	4,904
Cash surrender value	$ 4,168	$ 4,898

Contingencies, Commitments an_2

Contingencies, Commitments and Guarantees (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Amount of policy issued to plaintiff's	$ 1,000,000
Other Commitments [Line Items]
Other commitments	4,800,000,000	$ 6,600,000,000
Affiliated Entity
Other Commitments [Line Items]
Contractual obligation	$ 112,000,000

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended	3 Months Ended
	May 04, 2023	Mar. 14, 2019	Apr. 28, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	May 03, 2022
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)				$ 5		$ 5
Authorized repurchase amount							$ 6,500
Remaining authorized repurchase amount							$ 1,500
Shares purchased (in shares)				11,100,000
Aggregate repurchases of common stock				$ 603	$ 1,403
Dividends declared, preferred stock (in dollars per share)				$ 365.625	$ 365.625
Subsequent event
Class of Stock [Line Items]
Shares purchased (in shares)			4,000,000
Aggregate repurchases of common stock			$ 200
Dividends declared, common stock (in dollars per share)	$ 0.36
Increase in dividend rate (as a percent)	12.50%
Dividends declared, preferred stock (in dollars per share)	$ 365.625
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
Series A Depositary Shares
Class of Stock [Line Items]
Issuances (in shares)		20,000,000
Preferred stock liquidation preference (in dollars per share)		$ 25

Equity - Rollforward of common

Equity - Rollforward of common stock outstanding (Details)	3 Months Ended
	Mar. 31, 2023 shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued, beginning of year (in shares)	1,906,671,492
Treasury stock, beginning of year (in shares)	(1,172,543,436)
Shares outstanding, beginning of year (in shares)	734,100,000
Shares issued (in shares)	4,600,000
Shares repurchased (in shares)	(11,100,000)
Shares issued, end of period (in shares)	1,906,671,492
Treasury stock, end of period (in shares)	(1,179,092,272)
Shares outstanding, end of period (in shares)	727,600,000
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued, beginning of year (in shares)	1,906,700,000
Shares issued, end of period (in shares)	1,906,700,000
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock, beginning of year (in shares)	(1,172,600,000)
Shares issued (in shares)	4,600,000
Shares repurchased (in shares)	(11,100,000)
Treasury stock, end of period (in shares)	(1,179,100,000)

Equity - Schedule of accumulate

Equity - Schedule of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Sep. 19, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ 43,454	$ 69,034
Change in unrealized appreciation (depreciation) of investments	5,005	(20,167)
Change in other	106	15
Change in fair value of market risk benefits, net	95	991
Change in discount rates	(527)	2,883
Change in future policy benefits	(100)	795
Change in foreign currency translation adjustments	(19)	(3)
Change in net actuarial loss	27	11
Change in prior service cost		1
Change in deferred tax asset (liability)	(674)	2,363
Other comprehensive income (loss)	3,913	(13,111)
Balance, end of period	46,306	58,666
IPO | Corebridge Financial Inc
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Percentage of stock sold (as a percent)			12.40%
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(22,616)	5,071
Other comprehensive income (loss)	3,287	(12,099)
Balance, end of period	(19,329)	(7,028)
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	(136)	(48)
Balance, end of period	(134)	(88)
Unrealized Appreciation (Depreciation) of All Other Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(20,675)	12,125
Balance, end of period	(17,129)	(2,690)
Change in Fair Value of Market Risk Benefits Related to Our Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(284)	(1,496)
Other comprehensive income (loss)	75	782
Balance, end of period	(226)	(791)
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	2,459	(2,167)
Other comprehensive income (loss)	(420)	2,290
Balance, end of period	2,150	(99)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(3,056)	(2,446)
Balance, end of period	(3,094)	(2,472)
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(924)	(903)
Balance, end of period	(896)	(894)
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	0	6
Balance, end of period	0	6
Noncontrolling interests
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	626	(1,012)
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	(5)
Unrealized Appreciation (Depreciation) of All Other Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	706	(1,326)
Change in Fair Value of Market Risk Benefits Related to Our Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	17	77
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	(111)	222
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	10	20
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	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
Change in Fair Value of Market Risk Benefits Related to Our Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in fair value of market risk benefits, net	95	991
Change in deferred tax asset (liability)	(20)	(209)
Other comprehensive income (loss)	75	782
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in discount rates	(527)	2,883
Change in deferred tax asset (liability)	107	(593)
Other comprehensive income (loss)	(420)	2,290
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	9	(57)
Change in other	0	0
Change in deferred tax asset (liability)	(3)	12
Other comprehensive income (loss)	6	(45)
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	4,996	(20,110)
Change in other	106	15
Change in future policy benefits	(100)	795
Change in deferred tax asset (liability)	(750)	3,159
Other comprehensive income (loss)	4,252	(16,141)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in foreign currency translation adjustments	(19)	(3)
Change in deferred tax asset (liability)	(9)	(3)
Other comprehensive income (loss)	(28)	(6)
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in net actuarial loss	27	11
Change in prior service cost		1
Change in deferred tax asset (liability)	1	(3)
Other comprehensive income (loss)	28	9
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]
Other comprehensive income (loss)	$ 0	$ 0

Equity - Schedule of other comp

Equity - Schedule of other comprehensive income (loss) reclassification adjustments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Comprehensive Income (Loss) Reclassification Adjustments
Other comprehensive income (loss)	$ 3,913	$ (13,111)
Noncontrolling interests
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	4,126	(15,621)
Less: Reclassification adjustments included in net income	(461)	(147)
Total other comprehensive income (loss), before of income tax expense (benefit)	4,587	(15,474)
Less: Income tax expense (benefit)	674	(2,363)
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	(7)	(57)
Less: Reclassification adjustments included in net income	(16)	0
Total other comprehensive income (loss), before of income tax expense (benefit)	9	(57)
Less: Income tax expense (benefit)	3	(12)
Other comprehensive income (loss)	6	(45)
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	4,566	(19,439)
Less: Reclassification adjustments included in net income	(436)	(139)
Total other comprehensive income (loss), before of income tax expense (benefit)	5,002	(19,300)
Less: Income tax expense (benefit)	750	(3,159)
Other comprehensive income (loss)	4,252	(16,141)
Change in Fair Value of Market Risk Benefits Related to Our Own Credit Risk
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	95	991
Less: Reclassification adjustments included in net income	0	0
Total other comprehensive income (loss), before of income tax expense (benefit)	95	991
Less: Income tax expense (benefit)	20	209
Other comprehensive income (loss)	75	782
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(527)	2,883
Less: Reclassification adjustments included in net income	0	0
Total other comprehensive income (loss), before of income tax expense (benefit)	(527)	2,883
Less: Income tax expense (benefit)	(107)	593
Other comprehensive income (loss)	(420)	2,290
Foreign Currency Translation Adjustments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(19)	(3)
Less: Reclassification adjustments included in net income	0	0
Total other comprehensive income (loss), before of income tax expense (benefit)	(19)	(3)
Less: Income tax expense (benefit)	9	3
Other comprehensive income (loss)	(28)	(6)
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	18	4
Less: Reclassification adjustments included in net income	(9)	(8)
Total other comprehensive income (loss), before of income tax expense (benefit)	27	12
Less: Income tax expense (benefit)	(1)	3
Other comprehensive income (loss)	28	9
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	0	0
Less: Reclassification adjustments included in net income	0	0
Total other comprehensive income (loss), before of income tax expense (benefit)	0	0
Less: Income tax expense (benefit)	0	0
Other comprehensive income (loss)	$ 0	$ 0

Equity - Schedule of effect of

Equity - Schedule of effect of the reclassification of significant items out of accumulated other comprehensive income on the respective line items in the Consolidated Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	$ (1,909)	$ 3,579
Net income (loss) attributable to AIG	30	4,173
Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Net income (loss) attributable to AIG	(461)	(147)
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)	(16)	0
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)	(436)	(139)
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)	(9)	(8)
Prior-service credit | Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	(1)	(1)
Actuarial losses | Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	$ (8)	$ (7)

Earnings Per Common Share (EP_3

Earnings Per Common Share (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator for EPS:
Income (loss) from continuing operations	$ (87)	$ 4,560
Less: Net income (loss) from continuing operations attributable to noncontrolling interests	(117)	387
Less: Preferred stock dividends	7	7
Income (loss) attributable to AIG common shareholders from continuing operations	23	4,166
Income from discontinued operations, net of income tax expense	0	0
Net income (loss) attributable to AIG common shareholders	$ 23	$ 4,166
Denominator for EPS:
Weighted average common shares outstanding - basic (in shares)	738,661,428	816,314,273
Dilutive common shares (in shares)	5,437,758	9,698,337
Weighted average common shares outstanding - diluted (in shares)	744,099,186	826,012,610
Basic:
Income (loss) from continuing operations (in dollars per share)	$ 0.03	$ 5.10
Income from discontinued operations (in dollars per share)	0	0
Income (loss) attributable to AIG common shareholders (in dollars per share)	0.03	5.10
Diluted:
Income (loss) from continuing operations (in dollars per share)	0.03	5.04
Income from discontinued operations (in dollars per share)	0	0
Net income attributable to AIG common shareholders (in dollars per share)	$ 0.03	$ 5.04
Number of shares excluded from diluted shares outstanding because the effect would have been anti-dilutive (in shares)	4,500,000	39,900,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Sep. 19, 2022
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Percent	62.30%	20.20%
U.S. federal income tax at statutory rate (as a percent)	21%	21%
Valuation allowance related to certain tax attribute carryforward	$ 880
Gross unrecognized tax benefits, beginning of year	1,300		$ 1,200
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	1,200		1,200
Unrecognized tax benefits, interest and penalties accrued	56		$ 63
Unrecognized tax benefits, interest net of the federal (benefit) expense and penalties	(7)
Foreign And State Jurisdictions
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized	3
Federal Tax Credit Carryforwards and Tax Credit Carryforwards
Operating Loss Carryforwards [Line Items]
Valuation allowance related to certain tax attribute carryforward	713
Other Deferred Tax Assets
Operating Loss Carryforwards [Line Items]
Valuation allowance related to certain tax attribute carryforward	167
Deferred tax asset valuation allowance recognized	(16)
Non U.S.. Life Insurance Companies
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized	(234)
U.S.. Life Insurance Companies
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized	(131)
U.S.. Life Insurance Companies, Available-for-Sale Portfolio
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized	(1,300)
Non U.S.. Life Insurance Companies, Available-for-Sale Portfolio
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized	$ (700)
Corebridge Financial Inc
Operating Loss Carryforwards [Line Items]
Ownership (as a percent)	77.30%			77.70%
Corebridge Financial Inc | Maximum
Operating Loss Carryforwards [Line Items]
Ownership (as a percent)				80%