American International (AIG) 10-Q 2 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 26, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		711,899,624
Document Fiscal Year Focus	2023
Entity Central Index Key	0000005272
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
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		Jun. 30, 2023	Dec. 31, 2022
Fixed maturity securities:
Bonds available for sale, at fair value, net of allowance for credit losses of $125 in 2023 and $186 in 2022 (amortized cost: 2023 - $249,235; 2022 - $255,993)*	[1]	$ 222,530	$ 226,156
Other bond securities, at fair value (See Note 5)	[1]	4,941	4,485
Equity securities, at fair value (See Note 5)	[1]	660	575
Mortgage and other loans receivable, net of allowance for credit losses of $38,441 in 2023 and $38,351 in 2022*	[1]	51,605	49,605
Other invested assets (portion measured at fair value: 2023 - $12,105; 2022 - $12,042)*	[1]	16,067	15,953
Short-term investments, including restricted cash of $32 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $4,278; 2022 - $5,708)*	[1]	10,955	12,376
Total investments		306,758	309,150
Cash	[1]	2,283	2,043
Accrued investment income	[1]	2,506	2,376
Premiums and other receivables, net of allowance for credit losses and disputes of $160 in 2023 and $169 in 2022		12,428	13,243
Deferred income taxes		14,103	14,804
Deferred policy acquisition costs		12,702	12,857
Market risk benefit assets, at fair value		954	796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $37 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $521; 2022 - $621)*	[1]	12,832	12,384
Separate account assets, at fair value		89,718	84,853
Assets held for sale		12,695	0
Total assets		537,138	522,228
Liabilities:
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses of $14 in 2023 and $14 in 2022		70,284	75,167
Unearned premiums		19,152	18,338
Future policy benefits for life and accident and health insurance contracts		55,690	51,914
Policyholder contract deposits (portion measured at fair value: 2023 - $6,864; 2022 - $5,408)		159,572	155,984
Market risk benefit liabilities, at fair value		4,977	4,736
Other policyholder funds		3,430	3,463
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(2,118); 2022 - $(2,235))		29,588	30,383
Other liabilities (portion measured at fair value: 2023 - $383; 2022 - $343)*	[1]	24,496	26,757
Separate account liabilities		89,718	84,853
Liabilities held for sale		9,595	0
Total liabilities		490,647	478,774
Contingencies, commitments and guarantees (See Note 15)
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 - 1,189,147,491 shares; 2022 - 1,172,543,436 shares of common stock		(57,408)	(56,473)
Additional paid-in capital		77,677	79,915
Retained earnings		35,916	34,893
Accumulated other comprehensive loss		(18,982)	(22,616)
Total AIG shareholders’ equity		42,454	40,970
Non-redeemable noncontrolling interests		4,037	2,484
Total equity		46,491	43,454
Total liabilities and equity		537,138	522,228
Recurring Basis
Fixed maturity securities:
Other invested assets (portion measured at fair value: 2023 - $12,105; 2022 - $12,042)*		12,105	12,042
Short-term investments, including restricted cash of $32 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $4,278; 2022 - $5,708)*		4,278	5,708
Market risk benefit assets, at fair value		954	796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $37 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $521; 2022 - $621)*		521	621
Liabilities:
Policyholder contract deposits (portion measured at fair value: 2023 - $6,864; 2022 - $5,408)		6,864	5,408
Market risk benefit liabilities, at fair value		4,977	4,736
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(2,118); 2022 - $(2,235))		2,118	2,235
Consolidated Entities, Excluding Consolidated Investments
Liabilities:
Short-term and long-term debt*		21,352	21,299
Consolidated Investments, Including Variable Interest Entities, Primarily Beneficiary
Liabilities:
Short-term and long-term debt*	[1]	2,793	5,880
Fortitude RE
Fixed maturity securities:
Reinsurance assets, net of allowance for credit losses and disputes		30,541	30,751
Excluding Fortitude
Fixed maturity securities:
Reinsurance assets, net of allowance for credit losses and disputes		$ 39,618	$ 38,971
[1]See Note 10 for details of balances associated with variable interest entities.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Assets:
Bonds available for sale, allowance for credit losses		$ 125	$ 186
Bonds available for sale, amortized cost		249,235	255,993
Mortgage and other loans receivable, allowance for credit losses		38,441	38,351
Other invested assets	[1]	16,067	15,953
Short-term investments	[1]	10,955	12,376
Premiums and other receivables, allowance for credit losses and disputes		160	169
Other assets, allowance for credit losses		49	49
Other assets	[1]	12,832	12,384
Liabilities:
Liability for unpaid losses and loss adjustment expenses, allowance for credit losses		14	14
Policyholder contract deposits		159,572	155,984
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(2,118); 2022 - $(2,235))		(29,588)	(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)		1,189,147,491	1,172,543,436
Fortitude RE
Assets:
Reinsurance asset, allowance for credit loss		$ 0	$ 0
Excluding Fortitude
Assets:
Reinsurance asset, allowance for credit loss		271	295
Short-term investments, at cost (approximates fair value)
Assets:
Restricted cash		32	140
Other assets
Assets:
Restricted cash		37	33
Recurring Basis
Assets:
Other invested assets		12,105	12,042
Short-term investments		4,278	5,708
Other assets		521	621
Liabilities:
Policyholder contract deposits		6,864	5,408
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(2,118); 2022 - $(2,235))		(2,118)	(2,235)
Other liabilities		383	343
Long-term debt, portion measured at fair value		$ 50	$ 56
[1]See Note 10 for details of balances associated with variable interest entities.

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Premiums	$ 9,057	$ 7,512	$ 17,538	$ 14,632
Policy fees	694	728	1,392	1,458
Total net investment income	3,571	2,604	7,104	5,841
Total net realized gains (losses)	(297)	2,632	(2,206)	6,211
Other income	193	187	374	465
Total revenues	13,218	13,663	24,202	28,607
Benefits, losses and expenses:
Policyholder benefits and losses incurred (including remeasurement (gains) losses of $93 and $81 for the three months ended June 30, 2023 and 2022, respectively; $157 and $227 for the six months ended June 30, 2023 and 2022, respectively)	6,858	4,984	13,255	10,044
Change in the fair value of market risk benefits, net	(262)	(45)	(66)	(278)
Interest credited to policyholder account balances	1,062	911	2,102	1,790
Amortization of deferred policy acquisition costs	1,190	1,116	2,483	2,253
General operating and other expenses	2,268	2,206	4,248	4,370
Interest expense	278	266	585	529
Loss on extinguishment of debt	0	299	0	299
Net (gain) loss on divestitures and other	(43)	1	(41)	(39)
Total benefits, losses and expenses	11,351	9,738	22,566	18,968
Income (loss) from continuing operations before income tax expense (benefit)	1,867	3,925	1,636	9,639
Income tax expense (benefit)	176	845	32	1,999
Income (loss) from continuing operations	1,691	3,080	1,604	7,640
Income (loss) from discontinued operations, net of income tax expense	0	(1)	0	(1)
Net income (loss)	1,691	3,079	1,604	7,639
Less:
Net income (loss) from continuing operations attributable to noncontrolling interests	198	325	81	712
Net income (loss) attributable to AIG	1,493	2,754	1,523	6,927
Less: Dividends on preferred stock	8	8	15	15
Net income attributable to AIG common shareholders	$ 1,485	$ 2,746	$ 1,508	$ 6,912
Basic:
Income (loss) from continuing operations (in dollars per share)	$ 2.05	$ 3.47	$ 2.06	$ 8.60
Income from discontinued operations (in dollars per share)	0	0	0	0
Net income (loss) attributable to AIG common shareholders (in dollars per share)	2.05	3.47	2.06	8.60
Diluted:
Income (loss) from continuing operations (in dollars per share)	2.03	3.43	2.05	8.50
Income from discontinued operations (in dollars per share)	0	0	0	0
Net income attributable to AIG common shareholders (in dollars per share)	$ 2.03	$ 3.43	$ 2.05	$ 8.50
Weighted average shares outstanding:
Basic (in shares)	725,754,549	790,897,301	732,175,533	803,532,447
Diluted (in shares)	730,547,112	800,730,746	737,290,694	813,298,338
Excluding Fortitude Re Funds Withheld Assets
Revenues:
Total net investment income	$ 3,280	$ 2,416	$ 6,367	$ 5,362
Total net realized gains (losses)	(339)	(58)	(1,052)	343
Fortitude Re funds withheld assets
Revenues:
Total net investment income	291	188	737	479
Total net realized gains (losses)	(138)	(86)	(169)	(226)
Fortitude Re funds withheld embedded derivative
Revenues:
Total net realized gains (losses)	$ 180	$ 2,776	$ (985)	$ 6,094

Consolidated Statements of In_2

Consolidated Statements of Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Remeasurement gain (loss) on policyholder contract deposits	$ 93	$ 81	$ 157	$ 227

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,691	$ 3,079	$ 1,604	$ 7,639
Other comprehensive income (loss), net of tax
Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken	84	36	90	(9)
Change in unrealized appreciation (depreciation) of all other investments	(1,998)	(14,782)	2,254	(30,923)
Change in fair value of market risk benefits attributable to changes in our own credit risk	(190)	582	(115)	1,364
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts	373	1,870	(47)	4,160
Change in foreign currency translation adjustments	(59)	(335)	(87)	(341)
Change in retirement plan liabilities adjustment	52	16	80	25
Change in fair value of liabilities under fair value option attributable to changes in our own credit risk	0	(4)	0	(4)
Other comprehensive income (loss)	(1,738)	(12,617)	2,175	(25,728)
Comprehensive income (loss)	(47)	(9,538)	3,779	(18,089)
Comprehensive income (loss) attributable to noncontrolling interests	(60)	(673)	449	(1,298)
Comprehensive income (loss) attributable to AIG	$ 13	$ (8,865)	$ 3,330	$ (16,791)

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	[1]	$ 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		(85)	(85)			240	(325)
Purchase of common stock		(3,102)	(3,102)			(3,102)
Net income attributable to AIG or noncontrolling interests		7,639	6,927					6,927		712
Dividends on preferred stock		(15)	(15)					(15)
Dividends on common stock		(506)	(506)					(506)
Other comprehensive income (loss)		(25,728)	(23,718)						(23,718)	(2,010)
Contributions from noncontrolling interests		5								5
Distributions to noncontrolling interests		(167)								(167)
Other		150	144				153	(9)		6
Balance, end of period at Jun. 30, 2022		47,225	45,713	485	4,766	(54,480)	81,497	32,092	(18,647)	1,512
Balance, beginning of period at Mar. 31, 2022		58,666	56,457	485	4,766	(52,791)	81,438	29,587	(7,028)	2,209
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans		5	5			10	(5)
Purchase of common stock		(1,699)	(1,699)			(1,699)
Net income attributable to AIG or noncontrolling interests		3,079	2,754					2,754		325
Dividends on preferred stock		(8)	(8)					(8)
Dividends on common stock		(248)	(248)					(248)
Other comprehensive income (loss)		(12,617)	(11,619)						(11,619)	(998)
Contributions from noncontrolling interests		5								5
Distributions to noncontrolling interests		(35)								(35)
Other		77	71				64	7		6
Balance, end of period at Jun. 30, 2022		47,225	45,713	485	4,766	(54,480)	81,497	32,092	(18,647)	1,512
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		(140)	(140)			230	(370)
Purchase of common stock		(1,165)	(1,165)			(1,165)
Net income attributable to AIG or noncontrolling interests		1,604	1,523					1,523		81
Dividends on preferred stock		(15)	(15)					(15)
Dividends on common stock		(494)	(494)					(494)
Other comprehensive income (loss)		2,175	1,807						1,807	368
Net increase (decrease) due to divestitures and acquisitions		1,175	(86)				(1,913)		1,827	1,261
Contributions from noncontrolling interests		27	(86)							27
Distributions to noncontrolling interests		(252)								(252)
Other		122	54				45	9		68
Balance, end of period at Jun. 30, 2023		46,491	42,454	485	4,766	(57,408)	77,677	35,916	(18,982)	4,037
Balance, beginning of period at Mar. 31, 2023		46,306	43,317	485	4,766	(56,857)	79,562	34,690	(19,329)	2,989
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans		7	7			11	(4)
Purchase of common stock		(562)	(562)			(562)
Net income attributable to AIG or noncontrolling interests		1,691	1,493					1,493		198
Dividends on preferred stock		(8)	(8)					(8)
Dividends on common stock		(260)	(260)					(260)
Other comprehensive income (loss)		(1,738)	(1,480)						(1,480)	(258)
Net increase (decrease) due to divestitures and acquisitions		1,175	(86)				(1,913)		1,827	1,261
Contributions from noncontrolling interests		11	(86)							11
Distributions to noncontrolling interests		(194)								(194)
Other		63	33				32	1		30
Balance, end of period at Jun. 30, 2023		$ 46,491	$ 42,454	$ 485	$ 4,766	$ (57,408)	$ 77,677	$ 35,916	$ (18,982)	$ 4,037
[1]Updated to reflect the adoption of long-duration targets improvements, see Note 2.

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared, preferred stock (in dollars per share)	$ 365.625	$ 365.625	$ 731.25	$ 731.25
Dividend paid (in dollars per share)	$ 0.36	$ 0.32	$ 0.68	$ 0.64

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2023		Jun. 30, 2022
Cash flows from operating activities:
Net income (loss)		$ 1,604		$ 7,639
Loss from discontinued operations, net of income taxes		0		1
Noncash revenues, expenses, gains and losses included in income (loss):
Net losses on sales of securities available for sale and other assets		786		749
Net (gain) loss on divestitures and other		(41)		(39)
Loss on extinguishment of debt		0		299
Unrealized (gains) losses in earnings - net		531		(1,332)
Change in the fair value of market risk benefits in earnings, net		(363)		(541)
Equity in (income) loss from equity method investments, net of dividends or distributions		16		(180)
Depreciation and other amortization		2,274		2,190
Impairments of assets		12		1
Changes in operating assets and liabilities:
Insurance reserves		3,573		378
Premiums and other receivables and payables - net		(940)		(7,666)
Reinsurance assets, net		(2,234)		831
Capitalization of deferred policy acquisition costs		(3,024)		(2,577)
Current and deferred income taxes - net		(339)		1,733
Other, net		(744)		(888)
Total adjustments		(493)		(7,042)
Net cash provided by operating activities		1,111		598
Sales or distributions of:
Available for sale securities		16,480		14,660
Other securities		627		769
Other invested assets		970		1,565
Divestitures, net		35
Maturities of fixed maturity securities available for sale		8,439		10,416
Principal payments received on and sales of mortgage and other loans receivable		3,028		3,542
Purchases of:
Available for sale securities		(23,496)		(21,832)
Other securities		(960)		(2,143)
Other invested assets		(890)		(1,023)
Mortgage and other loans receivable		(4,946)		(7,592)
Net change in short-term investments		743		3,787
Other, net		(671)		385
Net cash provided by (used in) investing activities		(641)		2,534
Proceeds from (payments for)
Policyholder contract deposits		15,920		12,491
Policyholder contract withdrawals		(12,801)		(9,467)
Issuance of debt		742		6,476
Repayments of debt		(451)		(7,600)
Purchase of common stock		(1,117)		(3,105)
Dividends paid on preferred stock		(15)		(15)
Dividends paid on common stock		(494)		(506)
Other, net		(1,761)		(900)
Net cash used in financing activities		(115)		(2,759)
Effect of exchange rate changes on cash and restricted cash		18		(72)
Net increase in cash and restricted cash		373		301
Cash and restricted cash at beginning of year		2,216		2,427
Cash and restricted cash at end of period		2,352		2,728
Cash and restricted cash of held for sale assets		(237)
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		2,283	[1]	2,378
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows		2,352		2,728
Cash paid during the period for:
Interest		636		574
Taxes		368		265
Non-cash investing activities:
Fixed maturity securities available for sale received in connection with pension risk transfer transactions		2,818		0
Fixed maturity securities received in connection with reinsurance transactions		0		2
Fixed maturity securities transferred in connection with reinsurance transactions		(714)		(212)
Non-cash financing activities:
Interest credited to policyholder contract deposits included in financing activities		2,145		1,762
Fee income debited to policyholder contract deposits included in financing activities		(1,044)		(844)
Consolidated VIE
Proceeds from (payments for)
Issuance of debt		148		808
Repayments of debt		(286)		(941)
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Cash		99
Short-term investments
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[2]	32		281
Other assets
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:
Restricted cash	[2]	$ 37		$ 69
[1]See Note 10 for details of balances associated with variable interest entities.[2]Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to real estate.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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. AIG member companies provide insurance solutions that help businesses and individuals in approximately 70 countries and jurisdictions protect their assets and manage risks. 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 six months ended June 30, 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 June 30, 2023 and prior to the issuance of these Condensed Consolidated Financial Statements. We adopted the Financial Accounting Standards Board's (FASB) 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 (Transition Date). 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 Validus Re On May 22, 2023, AIG announced that it entered into a definitive agreement to sell Validus Reinsurance, Ltd. (Validus Re), including AlphaCat Managers Ltd. and the Talbot Treaty reinsurance business, to RenaissanceRe Holdings Ltd. (RenaissanceRe) for $2.7 billion in cash and approximately 1.3 million common shares of RenaissanceRe. The sale of Validus Re is expected to close in the fourth quarter of 2023, subject to regulatory approvals and other customary closing conditions. For further details on this transaction, see Note 4. Crop Risk Services On May 2, 2023, AIG announced that it reached an agreement to sell Crop Risk Services, Inc. (CRS) to American Financial Group, Inc. (AFG) for approximately $240 million. The transaction closed on July 3, 2023. For further details on this transaction, see Note 4. Separation of Life and Retirement Business and Relationship with Blackstone Inc. AIG owns 65.3 percent of the outstanding common stock of Corebridge Financial, Inc. (Corebridge) as of June 30, 2023. Corebridge is the holding company for AIG’s Life and Retirement business. AIG continues to consolidate 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. On June 12, 2023, AIG closed a secondary offering of common shares of Corebridge. AIG sold 74.75 million shares of common stock of Corebridge at a public offering price of $16.25 per share, which included 65 million shares initially offered and the full exercise by the underwriters of their option to purchase an additional 9.75 million shares. The aggregate gross proceeds of the offering to AIG, before deducting underwriting discounts and commissions and other expenses payable by AIG, were approximately $1.2 billion. After consideration of underwriting discounts, commissions and other related expenses payable by AIG, AIG recorded a decrease of $71 million in Total AIG shareholders' equity. On June 26, 2023, Corebridge repurchased 12.2 million shares of Corebridge common stock for an aggregate purchase price of $200 million, of which 11.0 million shares were from AIG for an aggregate purchase price of $180 million. As a result, AIG recorded a decrease of $15 million in Total AIG shareholders' equity. On September 19, 2022, AIG closed on the initial public offering (IPO) of 80 million shares of Corebridge common stock at a public offering price of $21.00 per share, representing 12.4 percent of Corebridge's common stock. 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 an increase of $497 million in Total AIG shareholders' 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). 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	6 Months Ended
	Jun. 30, 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 of 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 6. Investments • Net realized gains (losses) Note 7. Lending Activities Note 8. Reinsurance • Reinsurance assets – net of allowance Note 9. Deferred Policy Acquisition Costs • Deferred policy acquisition costs • Deferred sales inducements • Amortization of deferred policy acquisition costs Note 12. Insurance Liabilities • Future policy benefits • Policyholder contract deposits • Other policyholder funds Note 13. Market Risk Benefits 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, effective 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, effective 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. Following the adoption of LDTI, after January 1, 2021 all reinsurance premiums ceded are recognized when due, following a ceded net premium ratio (NPR) 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 (URR). 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, effective 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 are amortized on a constant level basis over the estimated lives of the contracts, consistent with the ACCOUNTING STANDARDS ADOPTED DURING 2023 Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued an accounting standard update with the objective of making targeted improvements to the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The Company 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 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 used to measure the liability for future policy benefits 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 Condensed Consolidated Financial Statements as of December 31, 2022 and for three and six months ended June 30, 2022 have been adjusted to reflect the effects of applying the standard. The accounting for the Fortitude Reinsurance Company Ltd. (Fortitude Re) reinsurance assets, 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 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 changes (non-performance adjustments), which are recognized in Other comprehensive income (loss) (OCI). 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 13. 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 of the standard, the impact of changes to discount rates are recognized through OCI. 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 12. 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 parenthetical presentation of any resulting re-measurement gain or loss in Policyholder benefits and losses incurred (except for discount rate changes as noted above) in the Condensed Consolidated Statements of Income (Loss). For additional information, see Note 12. • Simplifies the amortization of DAC to a constant level basis over the expected term of the related contracts and no longer requires an impairment test. For additional information, see Note 9. • 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 effective as of 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 8. (b) For additional information on the transition impacts associated with LDTI, see Note 9. (c) For additional information on the transition impacts associated with LDTI, see Note 13. (d) Other assets include deferred sales inducement assets. For additional information on the transition impacts associated with LDTI, see Note 9. (e) For additional information on the transition impacts associated with LDTI, see Note 12. (f) Other policyholder funds include URR. For additional information on the transition impacts associated with LDTI, see Note 12. (g) Other liabilities include deferred cost of reinsurance liabilities. For additional information on the transition impacts associated with LDTI, see Note 8. The following table presents the impacts in connection with the adoption of LDTI effective as of 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 our previously reported Condensed Consolidated Statements of Income (Loss): Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 As Effect of Updated As Effect of Updated (in millions, except per common share data) Revenues: Premiums $ 7,516 $ (4) $ 7,512 $ 14,626 $ 6 $ 14,632 Policy fees 742 (14) 728 1,506 (48) 1,458 Total net realized gains (losses) 3,392 (760) 2,632 7,811 (1,600) 6,211 Total revenues 14,441 (778) 13,663 30,249 (1,642) 28,607 Benefits, losses and expenses: Policyholder benefits and losses incurred 5,123 (139) 4,984 10,378 (334) 10,044 Change in the fair value of market risk benefits, net — (45) (45) — (278) (278) Interest credited to policyholder account balances 910 1 911 1,787 3 1,790 Amortization of deferred acquisition costs 1,298 (182) 1,116 2,735 (482) 2,253 General operating and other expenses 2,223 (17) 2,206 4,404 (34) 4,370 Total benefits, losses and expenses 10,120 (382) 9,738 20,093 (1,125) 18,968 Income (loss) from continuing operations before income tax expense (benefit) 4,321 (396) 3,925 10,156 (517) 9,639 Income tax expense (benefit) 928 (83) 845 2,107 (108) 1,999 Income (loss) from continuing operations 3,393 (313) 3,080 8,049 (409) 7,640 Net income (loss) 3,392 (313) 3,079 8,048 (409) 7,639 Net income (loss) from continuing operations attributable to noncontrolling interests 356 (31) 325 752 (40) 712 Net income (loss) attributable to AIG 3,036 (282) 2,754 7,296 (369) 6,927 Net income (loss) attributable to AIG common shareholders 3,028 (282) 2,746 7,281 (369) 6,912 Income (loss) per common share attributable to AIG common shareholders: Common stock - Basic 3.83 (0.36) 3.47 9.06 (0.46) 8.60 Common stock - Diluted 3.78 (0.35) 3.43 8.95 (0.45) 8.50 The following table presents the impacts in connection with the adoption of LDTI on our previously reported Condensed Consolidated Statements of Comprehensive Income (Loss): Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 As Effect of Updated As Effect of Updated (in millions) Net income $ 3,392 $ (313) $ 3,079 $ 8,048 $ (409) $ 7,639 Other comprehensive income (loss), net of tax Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken 40 (4) 36 (5) (4) (9) Change in unrealized appreciation (depreciation) of all other investments (12,538) (2,244) (14,782) (26,145) (4,778) (30,923) Change in fair value of market risk benefits attributable to changes in our own credit risk — 582 582 — 1,364 1,364 Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts — 1,870 1,870 — 4,160 4,160 Change in foreign currency translation adjustments (281) (54) (335) (286) (55) (341) Other comprehensive income (loss) (12,767) 150 (12,617) (26,415) 687 (25,728) Comprehensive income (loss) (9,375) (163) (9,538) (18,367) 278 (18,089) Comprehensive income (loss) attributable to noncontrolling interests (655) (18) (673) (1,320) 22 (1,298) Comprehensive income (loss) attributable to AIG (8,720) (145) (8,865) (17,047) 256 (16,791) The following table presents the impacts in connection with the adoption of LDTI on our previously reported Condensed Consolidated Statements of Cash Flows: Six Months Ended June 30, 2022 As Previously Effect of Updated Balances (in millions) Cash flows from operating activities: Net income $ 8,048 $ (409) $ 7,639 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 (3,238) 1,906 (1,332) Change in the fair value of market risk benefits in earnings, net — (541) (541) Depreciation and other amortization 2,698 (508) 2,190 Changes in operating assets and liabilities: Insurance reserves 1,402 (1,024) 378 Premiums and other receivables and payables - net (7,646) (20) (7,666) Reinsurance assets, net 20 811 831 Capitalization of deferred policy acquisition costs (2,543) (34) (2,577) Current and deferred income taxes - net 1,842 (109) 1,733 Other, net (783) (105) (888) Total adjustments (7,418) 376 (7,042) Net cash provided by operating activities 631 (33) 598 Cash flows from financing activities: Policyholder contract deposits 12,457 34 12,491 Net cash used in financing activities (2,793) 34 (2,759) 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 7. 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	6 Months Ended
	Jun. 30, 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 June 30, 2023 2022 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 3,195 $ 352 (a) $ 2,972 $ 406 (a) International 3,302 242 (a) 3,414 393 (a) Net investment income 725 725 458 458 Total General Insurance 7,222 1,319 6,844 1,257 Life and Retirement Individual Retirement 1,578 585 1,267 370 Group Retirement 690 201 672 180 Life Insurance 1,280 78 1,314 120 Institutional Markets 2,368 127 786 77 Total Life and Retirement 5,916 991 4,039 747 Other Operations Other Operations before consolidation and eliminations 111 (423) 207 (331) Consolidation and eliminations (14) 3 (136) (130) Total Other Operations 97 (420) 71 (461) Total 13,235 1,890 10,954 1,543 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 14 (3) 13 10 Change in the fair value of market risk benefits, net (b) — 262 — 45 Changes in benefit reserves related to net realized gains (losses) — (1) — 7 Changes in the fair value of equity securities 43 43 (30) (30) Other income (expense) - net (12) — (9) — Loss on extinguishment of debt — — — (299) Net investment income on Fortitude Re funds withheld assets 291 291 188 188 Net realized losses on Fortitude Re funds withheld assets (138) (138) (86) (86) Net realized gains on Fortitude Re funds withheld embedded derivative 180 180 2,776 2,776 Net realized losses (c) (395) (390) (147) (140) Net gain (loss) on divestitures and other — 43 — (1) Non-operating litigation reserves and settlements — (1) 4 4 Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 18 — 144 Net loss reserve discount charge — (16) — (14) Pension expense related to a one-time lump sum payment to former employees — (67) — — Integration and transaction costs associated with acquiring or divesting businesses — (79) — (38) Restructuring and other costs — (153) — (175) Non-recurring costs related to regulatory or accounting changes — (12) — (9) Revenues and pre-tax income $ 13,218 $ 1,867 $ 13,663 $ 3,925 Six Months Ended June 30, 2023 2022 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 6,175 $ 651 (a) $ 5,761 $ 662 (a) International 6,581 445 (a) 6,881 583 (a) Net investment income 1,471 1,471 1,223 1,223 Total General Insurance 14,227 2,567 13,865 2,468 Life and Retirement Individual Retirement 3,062 1,118 2,614 836 Group Retirement 1,373 388 1,406 421 Life Insurance 2,529 160 2,625 233 Institutional Markets 4,323 211 1,335 191 Total Life and Retirement 11,287 1,877 7,980 1,681 Other Operations Other Operations before consolidation and eliminations 243 (857) 501 (619) AIG consolidation and eliminations (78) (54) (272) (263) Total Other Operations 165 (911) 229 (882) Total 25,679 3,533 22,074 3,267 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 27 (6) 27 23 Change in the fair value of market risk benefits, net (b) — 66 — 278 Changes in benefit reserves related to net realized gains (losses) — 5 — 9 Changes in the fair value of equity securities 94 94 (57) (57) Other income (expense) - net (19) — (16) — Loss on extinguishment of debt — — — (299) Net investment income on Fortitude Re funds withheld assets 737 737 479 479 Net realized gains (losses) on Fortitude Re funds withheld assets (169) (169) (226) (226) Net realized gains (losses) on Fortitude Re funds withheld embedded derivative (985) (985) 6,094 6,094 Net realized gains (losses) (c) (1,167) (1,156) 194 209 Net gain (loss) on divestitures and other — 41 — 39 Non-operating litigation reserves and settlements 1 — 38 38 Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 37 — 144 Net loss reserve discount benefit (charge) — (80) — 6 Pension expense related to a one-time lump sum payment to former employees — (67) — — Integration and transaction costs associated with acquiring or divesting businesses — (131) — (84) Restructuring and other costs — (270) — (268) Non-recurring costs related to regulatory or accounting changes — (25) — (13) Net impact from elimination of international reporting lag (d) 4 12 — — Revenues and pre-tax income (loss) $ 24,202 $ 1,636 $ 28,607 $ 9,639 (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.

Held-For-Sale Classification

Held-For-Sale Classification	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Held-For-Sale Classification	4. Held-For-Sale Classification HELD-FOR-SALE CLASSIFICATION We report and classify a business as held-for-sale (Held-For-Sale Business) when management has approved the sale or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the next 12 months and certain other specified criteria are met. A Held-For-Sale Business is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Assets and liabilities related to a Held-For-Sale Business are reported in Assets held for sale and Liabilities held for sale, respectively, in our Condensed Consolidated Balance Sheets beginning in the period in which the business is classified as held-for-sale. At June 30, 2023, the following businesses were reported and classified as held-for-sale: Validus Re To further simplify AIG's business model and reduce volatility in our portfolio, on May 22, 2023, AIG announced that it entered into a definitive agreement to sell Validus Re, including AlphaCat Managers Ltd. and the Talbot Treaty reinsurance business to RenaissanceRe for $2.7 billion in cash and approximately 1.3 million common shares of RenaissanceRe. Additionally, AIG agreed to retain 95 percent of the difference between (i) the reserves with respect to the business as of the closing date of the sale for losses occurring prior to the closing date and (ii) the associated reserve development following the closing date with respect to such losses. Any reserve development will be settled annually, commencing with the calendar year ending December 31, 2024. This arrangement stays in effect until the parties determine to terminate such arrangement (which they will re-evaluate on an annual basis beginning 5 years after the closing date) or until all such liabilities of the acquired reinsurance business have run off. This reserve cover is considered contingent consideration and will be recognized at fair value when the sale of Validus Re closes. The sale is expected to close in the fourth quarter of 2023, subject to regulatory approvals and other customary closing conditions. The results of Validus Re are reported in General Insurance. CRS On May 2, 2023, AIG announced that it reached an agreement to sell CRS, also purchased as part of the 2018 acquisition of Validus Holdings Ltd. in 2018, to AFG for approximately $240 million. The transaction closed on July 3, 2023. The historical results of CRS are reported in General Insurance. The following table summarizes the components of assets and liabilities held-for-sale on the Condensed Consolidated Balance Sheets at June 30, 2023 after elimination of intercompany balances: (in millions) Validus Re CRS Total Assets: Bonds available for sale $ 4,568 $ — $ 4,568 Other invested assets 5 — 5 Short-term investments, including restricted cash of $46 389 29 418 Cash 191 — 191 Accrued investment income 26 — 26 Premiums and other receivables, net of allowance for credit losses and disputes 3,812 51 3,863 Reinsurance assets - other, net of allowance for credit losses and disputes 2,057 — 2,057 Deferred income taxes 75 — 75 Deferred policy acquisition costs 712 — 712 Other assets, net of allowance for credit losses (a) 591 189 780 Total assets held for sale $ 12,426 $ 269 $ 12,695 Liabilities: Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses $ 4,929 $ — $ 4,929 Unearned premiums 3,006 — 3,006 Other liabilities 1,220 173 1,393 Long-term debt 267 — 267 Total liabilities held for sale $ 9,422 $ 173 $ 9,595 (a) Other assets, net of allowance for credit losses includes goodwill and other intangibles of $318 million and $235 million, respectively, for Validus Re and $23 million and $20 million, respectively, for CRS.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. 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 (SOFR) 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 NPA 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. The corporate credit indices are observable for the first 30 years. For years 30 to 50, the yield is derived using market observable yields. Yields for years 50 to 100 are extrapolated using a flat forward approach, maintaining a constant forward spread through the period. MRBs are measured using a NPA that is a locked-in estimate of our claims-paying ability at policy issue (locked-in NPA) as well as a NPA that reflects an estimate 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: June 30, 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 $ 82 $ 6,087 $ — $ — $ — $ 6,169 Obligations of states, municipalities and political subdivisions — 10,277 869 — — 11,146 Non-U.S. governments 204 12,298 6 — — 12,508 Corporate debt — 131,582 1,721 — — 133,303 RMBS — 11,277 7,617 — — 18,894 CMBS — 13,196 553 — — 13,749 CLO/ABS — 12,547 14,214 — — 26,761 Total bonds available for sale 286 197,264 24,980 — — 222,530 Other bond securities: U.S. government and government sponsored entities — — — — — — Obligations of states, municipalities and political subdivisions — 108 3 — — 111 Non-U.S. governments — 46 — — — 46 Corporate debt — 2,422 155 — — 2,577 RMBS — 194 164 — — 358 CMBS — 283 26 — — 309 CLO/ABS — 496 1,044 — — 1,540 Total other bond securities — 3,549 1,392 — — 4,941 Equity securities 465 123 72 — — 660 Other invested assets (b) — 153 2,140 — — 2,293 Derivative assets (c) : Interest rate contracts — 2,122 339 — — 2,461 Foreign exchange contracts — 1,426 1 — — 1,427 Equity contracts 11 603 666 — — 1,280 Commodity contracts — — — — — — Credit contracts — — 33 — — 33 Other contracts — — 15 — — 15 Counterparty netting and cash collateral — — — (2,826) (1,980) (4,806) Total derivative assets 11 4,151 1,054 (2,826) (1,980) 410 Short-term investments 1,881 2,397 — — — 4,278 Market risk benefit assets — — 954 — — 954 Other assets (c) — — 111 — — 111 Separate account assets 86,579 3,139 — — — 89,718 Total (d) $ 89,222 $ 210,776 $ 29,749 $ (2,826) $ (1,980) $ 324,941 Liabilities: Policyholder contract deposits $ — $ 51 $ 6,813 $ — $ — $ 6,864 Market risk benefit liabilities — — 4,977 — — 4,977 Derivative liabilities (c) : Interest rate contracts — 3,108 — — — 3,108 Foreign exchange contracts — 796 3 — — 799 Equity contracts 23 303 21 — — 347 Credit contracts — 6 33 — — 39 Counterparty netting and cash collateral — — — (2,826) (1,182) (4,008) Total derivative liabilities 23 4,213 57 (2,826) (1,182) 285 Fortitude Re funds withheld payable — — (2,118) — — (2,118) Other liabilities — — 98 — — 98 Long-term debt — 50 — — — 50 Total $ 23 $ 4,314 $ 9,827 $ (2,826) $ (1,182) $ 10,156 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 $9.8 billion and $9.8 billion as of June 30, 2023 and December 31, 2022, respectively. (c) Presented as part of Other assets and Other liabilities on the Condensed Consolidated Balance Sheets. (d) Excludes $5.0 billion of assets reclassified to Assets held for sale on the Condensed Consolidated Balance Sheets. CHANGES IN LEVEL 3 RECURRING FAIR VALUE MEASUREMENTS The following tables present changes during the three and six months ended June 30, 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 June 30, 2023 and 2022: (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 873 $ — $ (3) $ (1) $ — $ — $ — $ 869 $ — $ (13) Non-U.S. governments 9 — 1 (2) — (2) — 6 — 1 Corporate debt 2,432 6 8 (173) 46 (598) — 1,721 — 5 RMBS 7,581 105 189 (211) 31 (43) (35) 7,617 — 187 CMBS 938 (29) (39) (40) (1) (276) — 553 — (49) CLO/ABS 13,889 11 (94) 390 55 (98) 61 14,214 — (126) Total bonds available for sale 25,722 93 62 (37) 131 (1,017) 26 24,980 — 5 Other bond securities: Obligations of states, municipalities and political subdivisions 1 — — 2 — — — 3 — — Corporate Debt 130 1 — 24 — — — 155 3 — RMBS 166 2 — (4) — — — 164 (3) — CMBS 27 (1) — — — — — 26 (1) — CLO/ABS 1,010 (8) — 76 3 (38) 1 1,044 (38) — Total other bond securities 1,334 (6) — 98 3 (38) 1 1,392 (39) — Equity securities 74 2 — 2 2 (8) — 72 2 — Other invested assets 2,086 (19) 2 71 — — — 2,140 — — Other assets 110 — — 1 — — — 111 — — Total (a) $ 29,326 $ 70 $ 64 $ 135 $ 136 $ (1,063) $ 27 $ 28,695 $ (37) $ 5 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 6,064 $ 429 $ — $ 320 $ — $ — $ — $ 6,813 $ (308) $ — Derivative liabilities, net: Interest rate contracts (356) 27 — (10) — — — (339) — (21) Foreign exchange contracts — 2 — — — — — 2 — (2) Equity contracts (502) 7 — (150) — — — (645) (1) 6 Credit contracts — (1) — 1 — — — — — 1 Other contracts (14) (17) — 16 — — — (15) 15 1 Total derivative liabilities, net (b) (872) 18 — (143) — — — (997) 14 (15) Fortitude Re funds withheld payable (1,863) (180) — (75) — — — (2,118) 291 — Other Liabilities 112 (14) — — — — — 98 — — Total (c) $ 3,441 $ 253 $ — $ 102 $ — $ — $ — $ 3,796 $ (3) $ (15) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,087 $ — $ (143) $ (4) $ 17 $ — $ — $ 957 $ — $ (151) Non-U.S. governments 8 — — — 1 — — 9 — — Corporate debt 2,744 (15) (78) (214) 252 (206) — 2,483 — (49) RMBS 8,925 92 (390) (266) — (9) — 8,352 — (390) CMBS 864 5 (46) 85 — (37) — 871 — (47) CLO/ABS 11,776 3 (502) 1,106 349 (1,036) — 11,696 — (513) Total bonds available for sale 25,404 85 (1,159) 707 619 (1,288) — 24,368 — (1,150) Other bond securities: Corporate debt 260 (4) — 47 161 (3) — 461 (4) — RMBS 199 (13) 1 5 — — — 192 (13) — CMBS 33 (1) — — — — — 32 (1) — CLO/ABS 2,468 (135) — 157 6 (54) — 2,442 — — Total other bond securities 2,960 (153) 1 209 167 (57) — 3,127 (18) — Equity securities 6 — 1 5 — — — 12 — — Other invested assets 1,935 133 (23) (23) — (14) — 2,008 174 — Other assets 108 — — (1) — — — 107 — — Total (a) $ 30,413 $ 65 $ (1,180) $ 897 $ 786 $ (1,359) $ — $ 29,622 $ 156 $ (1,150) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,035 $ (545) $ — $ 238 $ — $ — $ — $ 4,728 $ 592 $ — Derivative liabilities, net: Interest rate contracts (4) 12 — (70) (81) — — (143) (10) — Foreign exchange contracts — 1 — — — — — 1 (1) — Equity contracts (178) 89 — (59) — (1) — (149) (95) — Credit contracts 31 1 — — — — — 32 (1) — Other contracts (14) (14) — 12 — — — (16) 15 — Total derivative liabilities, net (b) (165) 89 — (117) (81) (1) — (275) (92) — Fortitude Re funds withheld payable 2,206 (2,776) — (68) — — — (638) 2,836 — Total (c) $ 7,076 $ (3,232) $ — $ 53 $ (81) $ (1) $ — $ 3,815 $ 3,336 $ — (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Six Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 824 $ 1 $ 52 $ (8) $ — $ — $ — $ 869 $ — $ 28 Non-U.S. governments 1 1 1 (2) 7 (2) — 6 — 1 Corporate debt 2,847 (96) 59 (374) 320 (1,019) (16) 1,721 — 59 RMBS 7,553 214 119 (201) 31 (64) (35) 7,617 — 89 CMBS 926 (22) (42) (39) 33 (303) — 553 — (83) CLO/ABS 12,748 61 177 1,230 113 (200) 85 14,214 — 97 Total bonds available for sale 24,899 159 366 606 504 (1,588) 34 24,980 — 191 Other bond securities: Obligations of states, municipalities and political subdivisions — — — 3 — — — 3 — — Corporate debt 416 2 — (72) — (191) — 155 2 — RMBS 173 7 — (16) — — — 164 (5) — CMBS 28 (2) — — — — — 26 (2) — CLO/ABS 910 28 — 94 4 (45) 53 1,044 (19) — Total other bond securities 1,527 35 — 9 4 (236) 53 1,392 (24) — Equity securities 39 2 — 29 10 (8) — 72 2 — Other invested assets 2,075 (71) 7 129 — — — 2,140 (73) — Other assets 107 — — 4 — — — 111 — — Total (a) $ 28,647 $ 125 $ 373 $ 777 $ 518 $ (1,832) $ 87 $ 28,695 $ (95) $ 191 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,367 $ 810 $ — $ 636 $ — $ — $ — $ 6,813 $ (676) $ — Derivative liabilities, net: Interest rate contracts (311) 84 — (112) — — — (339) — (29) Foreign exchange contracts — 2 — — — — — 2 — (2) Equity contracts (271) (49) — (325) — — — (645) 131 66 Credit contracts — (1) — 1 — — — — — 1 Other contracts (14) (33) — 32 — — — (15) 31 1 Total derivative liabilities, net (b) (596) 3 — (404) — — — (997) 162 37 Fortitude Re funds withheld payable (2,235) 985 — (868) — — — (2,118) (468) — Other Liabilities 112 (14) — — — — — 98 — — Total (c) $ 2,648 $ 1,784 $ — $ (636) $ — $ — $ — $ 3,796 $ (982) $ 37 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,431 $ 2 $ (428) $ (65) $ 17 $ — $ — $ 957 $ — $ (410) Non-U.S. governments 7 — — — 2 — — 9 — — Corporate debt 2,641 (26) (151) (37) 382 (326) — 2,483 — (137) RMBS 10,378 222 (943) (874) — (431) — 8,352 — (925) CMBS 1,190 13 (113) 117 — (336) — 871 — (108) CLO/ABS 11,215 19 (1,003) 1,651 1,464 (1,650) — 11,696 — (1,003) Total bonds available for sale 26,862 230 (2,638) 792 1,865 (2,743) — 24,368 — (2,583) Other bond securities: Corporate debt 134 (4) — 124 222 (15) — 461 (4) — RMBS 196 (18) — 14 — — — 192 (21) — CMBS 35 (3) — — — — — 32 (3) — CLO/ABS 2,332 (249) — 352 63 (56) — 2,442 (162) — Total other bond securities 2,697 (274) — 490 285 (71) — 3,127 (190) — Equity securities 6 — — 6 — — — 12 — — Other invested assets 1,948 245 (27) (38) 47 (167) — 2,008 295 — Other assets 114 — — (7) — — — 107 — — Total (a) $ 31,627 $ 201 $ (2,665) $ 1,243 $ 2,197 $ (2,981) $ — $ 29,622 $ 105 $ (2,583) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,572 $ (1,203) $ — $ 359 $ — $ — $ — $ 4,728 $ 1,437 $ — Derivative liabilities, net: Interest rate contracts — 11 — (73) (81) — — (143) (10) — Foreign exchange contracts (1) 1 — 1 — — — 1 (1) — Equity contracts (444) 390 — (94) — (1) — (149) (247) — Credit contracts 30 2 — — — — — 32 (1) — Other contracts (13) (32) — 29 — — — (16) 32 — Total derivative liabilities, net (b) (428) 372 — (137) (81) (1) — (275) (227) — Fortitude Re funds withheld payable 5,922 (6,094) — (466) — — — (638) 6,316 — Total (c) $ 11,066 $ (6,925) $ — $ (244) $ (81) $ (1) $ — $ 3,815 $ 7,526 $ — (a) Excludes MRB assets of $954 million at June 30, 2023 and $642 million at June 30, 2022, For additional information, see Note 13. (b) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. (c) Excludes MRB liabilities of $5.0 billion at June 30, 2023 and $5.3 billion at June 30, 2022. For additional information, see Note 13. 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 (c) Other Total Three Months Ended June 30, 2023 Assets: Bonds available for sale $ 121 $ (28) $ — $ — $ 93 Other bond securities (6) — — — (6) Equity securities 2 — — — 2 Other invested assets (20) 1 — — (19) Three Months Ended June 30, 2022 Assets: Bonds available for sale $ 142 $ (57) $ — $ — $ 85 Other bond securities (153) — — — (153) Other invested assets 133 — — — 133 Six Months Ended June 30, 2023 Assets: Bonds available for sale $ 183 $ (24) $ — $ — $ 159 Other bond securities 35 — — — 35 Other invested assets (71) — — — (71) Six Months Ended June 30, 2022 Assets: Bonds available for sale $ 306 $ (76) $ — $ — $ 230 Other bond securities (274) — — — (274) Other invested assets 245 — — — 245 (in millions) Net Net Realized Change in the fair value of market risk benefits, net (c) Other Total Three Months Ended June 30, 2023 Liabilities: Policyholder contract deposits (a) $ — $ 429 $ — $ — $ 429 Market risk benefit liabilities, net (b) — (3) (884) — (887) Derivative liabilities, net — 65 (31) (16) 18 Fortitude Re funds withheld payable — (180) — — (180) Three Months Ended June 30, 2022 Liabilities: Policyholder contract deposits (a) $ — $ (545) $ — $ — $ (545) Market risk benefit liabilities, net (b) — (5) (258) — (263) Derivative liabilities, net — 120 (18) (13) 89 Fortitude Re funds withheld payable — (2,776) — — (2,776) Six Months Ended June 30, 2023 Liabilities: Policyholder contract deposits (a) $ — $ 810 $ — $ — $ 810 Market risk benefit liabilities, net (b) — (3) (797) — (800) Derivative liabilities, net — (23) 58 (32) 3 Fortitude Re funds withheld payable — 985 — — 985 Six Months Ended June 30, 2022 Liabilities: Policyholder contract deposits (a) $ — $ (1,203) $ — $ — $ (1,203) Market risk benefit liabilities, net (b) — (8) (957) — (965) Derivative liabilities, net — 447 (47) (28) 372 Fortitude Re funds withheld payable — (6,094) — — (6,094) (a) Primarily embedded derivatives. (b) Market risk benefit assets and liabilities have been netted in the above table for presentation purposes only. (c) The portion of the fair value change attributable to own credit risk is recognized in OCI. (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Three Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ — $ (1) $ (1) Corporate debt 1 — (174) (173) RMBS 111 (42) (280) (211) CMBS — (26) (14) (40) CLO/ABS 495 (148) 43 390 Total bonds available for sale 607 (216) (428) (37) Other bond securities: Obligations of states, municipalities and political subdivisions 2 — — 2 Corporate debt 87 — (63) 24 RMBS 1 — (5) (4) CLO/ABS 81 4 (9) 76 Total other bond securities 171 4 (77) 98 Equity securities 2 — — 2 Other invested assets 80 — (9) 71 Other assets — — 1 1 Total $ 860 $ (212) $ (513) $ 135 Liabilities: Policyholder contract deposits $ — $ 402 $ (82) $ 320 Derivative liabilities, net (190) 4 43 (143) Fortitude Re funds withheld payable — — (75) (75) Total $ (190) $ 406 $ (114) $ 102 Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ (4) $ — $ (4) Corporate debt 14 — (228) (214) RMBS 176 — (442) (266) CMBS 76 — 9 85 CLO/ABS 1,245 — (139) 1,106 Total bonds available for sale 1,511 (4) (800) 707 Other bond securities: Corporate debt 5 — 42 47 RMBS 14 — (9) 5 CLO/ABS 293 — (136) 157 Total other bond securities 312 — (103) 209 Equity securities 5 — — 5 Other invested assets 259 — (282) (23) Other assets — — (1) (1) Total $ 2,087 $ (4) $ (1,186) $ 897 Liabilities: Policyholder contract deposits $ — $ 222 $ 16 $ 238 Derivative liabilities, net (164) 1 46 (117) Fortitude Re funds withheld payable — — (68) (68) Total $ (164) $ 223 $ (6) $ 53 (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Six Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (4) $ (5) $ (8) Corporate debt 22 — (396) (374) RMBS 401 (61) (541) (201) CMBS 10 (32) (17) (39) CLO/ABS 1,392 (151) (11) 1,230 Total bonds available for sale 1,826 (248) (972) 606 Other bond securities: Obligations of states, municipalities and political subdivisions 3 — — 3 Corporate debt 87 — (159) (72) RMBS 6 — (22) (16) CLO/ABS 127 — (33) 94 Total other bond securities 223 — (214) 9 Equity securities 31 — (2) 29 Other invested assets 152 — (23) 129 Other assets — — 4 4 Total $ 2,232 $ (248) $ (1,207) $ 777 Liabilities: Policyholder contract deposits $ — $ 728 $ (92) $ 636 Derivative liabilities, net (450) 9 37 (404) Fortitude Re funds withheld payable — — (868) (868) Total $ (450) $ 737 $ (923) $ (636) Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (64) $ (2) $ (65) Corporate Debt 23 — (60) (37) RMBS 285 — (1,159) (874) CMBS 146 — (29) 117 CLO/ABS 2,131 — (480) 1,651 Total bonds available for sale 2,586 (64) (1,730) 792 Other bond securities: Corporate debt 24 — 100 124 RMBS 31 — (17) 14 CLO/ABS 616 — (264) 352 Total other bond securities 671 — (181) 490 Equity securities 5 — 1 6 Other invested assets 517 — (555) (38) Other assets — — (7) (7) Total $ 3,779 $ (64) $ (2,472) $ 1,243 Liabilities: Policyholder contract deposits $ — $ 417 $ (58) $ 359 Derivative liabilities, net (249) 3 109 (137) Fortitude Re funds withheld payable — — (466) (466) Total $ (249) $ 420 $ (415) $ (244) (a) There were no issuances during the three and six months ended June 30, 2023 and 2022. Transfers of Level 3 Assets and Liabilities The Net realized and unrealized gains (losses) included in income (loss) or OCI as shown in the table above excludes $1 million and $8 million of net gains (losses) related to assets and liabilities transferred into Level 3 during the three and six months ended June 30, 2023, respectively, and includes $(9) million and $(14) million of net gains (losses) related to assets and liabilities transferred out of Level 3 during the three and six months ended June 30, 2023, respectively. The Net realized and unrealized gains (losses) included in income (loss) or OCI as shown in the table above excludes $(38) million and $(72) million of net gains (losses) related to assets and liabilities transferred into Level 3 during the three and six months ended June 30, 2022, respectively, and includes $(38) million and $(79) million of net gains (losses) related to assets and liabilities transferred out of Level 3 during the three and six months ended June 30, 2022, respectively. Transfers of Level 3 Assets During the three and six months ended June 30, 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 and six months ended June 30, 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 and six months ended June 30, 2023. During the three and six months ended June 30, 2022, transfers of derivatives into Level 3 were primarily due to increased long-dated European swaption activity with SOFR tenors. 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 $ 846 Discounted cash flow Yield 5.02% - 5.46% (5.24%) Corporate debt 1,570 Discounted cash flow Yield 5.57% - 8.14% (6.85%) RMBS (a) 5,107 Discounted cash flow Constant prepayment rate 4.76% - 10.21% (7.48%) Loss severity 44.40% - 77.42% (60.91%) Constant default rate 0.84% - 2.71% (1.77%) Yield 4.37% - 8.40% (6.26%) CLO/ABS (a) 11,234 Discounted cash flow Yield 6.05% - 7.81% (6.93%) CMBS 533 Discounted cash flow Yield 4.86% - 32.35% (14.68%) Market risk benefit assets 954 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 (g) 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.23% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Liabilities (d) : Market risk benefit liabilities: Variable annuities guaranteed benefits 2,044 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 (g) 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.23% Fixed annuities guaranteed benefits 886 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% - 2.23% Fixed index annuities guaranteed benefits 2,047 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% - 6.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.23% Embedded derivatives within Policyholder contract deposits: Index credits on fixed index annuities (h) 5,973 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% - 6.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.23% Index life 840 Discounted cash flow Base lapse rate 0.00%

Investments

Investments	6 Months Ended
	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	6. Investments SECURITIES AVAILABLE FOR SALE The following table presents the amortized cost and fair value of our available for sale securities: (in millions) Amortized Cost Allowance for Credit Losses (a) Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2023 Bonds available for sale: U.S. government and government sponsored entities $ 6,485 $ — $ 17 $ (333) $ 6,169 Obligations of states, municipalities and political subdivisions 11,982 — 107 (943) 11,146 Non-U.S. governments 14,087 (11) 97 (1,665) 12,508 Corporate debt 153,633 (67) 1,122 (21,385) 133,303 Mortgage-backed, asset-backed and collateralized: RMBS 19,353 (26) 856 (1,289) 18,894 CMBS 15,258 (19) 13 (1,503) 13,749 CLO/ABS 28,437 (2) 99 (1,773) 26,761 Total mortgage-backed, asset-backed and collateralized 63,048 (47) 968 (4,565) 59,404 Total bonds available for sale (b) $ 249,235 $ (125) $ 2,311 $ (28,891) $ 222,530 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 OCI. (b) At June 30, 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 $17.8 billion or 8 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 June 30, 2023 Bonds available for sale: U.S. government and government sponsored entities $ 5,299 $ 314 $ 213 $ 19 $ 5,512 $ 333 Obligations of states, municipalities and political subdivisions 7,172 861 769 82 7,941 943 Non-U.S. governments 10,200 1,647 438 18 10,638 1,665 Corporate debt 88,949 15,831 28,260 5,538 117,209 21,369 RMBS 8,305 687 3,775 560 12,080 1,247 CMBS 8,162 851 4,569 650 12,731 1,501 CLO/ABS 11,969 698 10,096 1,075 22,065 1,773 Total bonds available for sale $ 140,056 $ 20,889 $ 48,120 $ 7,942 $ 188,176 $ 28,831 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 June 30, 2023, we held 32,032 individual fixed maturity securities that were in an unrealized loss position and for which no allowance for credit losses has been recorded (including 7,063 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 June 30, 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 June 30, 2023 Due in one year or less $ 9,123 $ 9,000 Due after one year through five years 45,775 43,487 Due after five years through ten years 41,559 37,535 Due after ten years 89,652 73,104 Mortgage-backed, asset-backed and collateralized 63,001 59,404 Total $ 249,110 $ 222,530 Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay certain obligations with or without call or prepayment penalties. The following table presents the gross realized gains and gross realized losses from sales or maturities of our available for sale securities: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in millions) Gross Gross Gross Gross Gross Gross Gross Gross Fixed maturity securities $ 83 $ 424 $ 186 $ 790 $ 229 $ 1,022 $ 283 $ 1,026 For the three and six months ended June 30, 2023, the aggregate fair value of available for sale securities sold was $5.8 billion and $16.6 billion, respectively, which resulted in net realized gains (losses) of $(341) million and $(793) million, respectively. Included within the net realized gains (losses) are $(54) million and $(119) million of net realized gains (losses) for the three and six months ended June 30, 2023, respectively, which relate to Fortitude Re funds withheld assets. These net realized gains (losses) are included in Net realized gains (losses) on Fortitude Re funds withheld assets. For the three and six months ended June 30, 2022, the aggregate fair value of available for sale securities sold was $9.2 billion and $14.0 billion, respectively, which resulted in net realized gains (losses) of $(604) million and $(743) million, respectively. Included within the net realized gains (losses) are $(122) million and $(154) million of net realized gains (losses) for the three and six months ended June 30, 2022, respectively, which relate to Fortitude Re funds withheld assets. These net realized gains (losses) are included in Net realized gains (losses) on Fortitude Re funds withheld assets. OTHER SECURITIES MEASURED AT FAIR VALUE The following table presents the fair value of fixed maturity securities measured at fair value based on our election of the fair value option, which are reported in the other bond securities caption in the financial statements, and equity securities measured at fair value: (in millions) June 30, 2023 December 31, 2022 Fair Percent Fair Percent Fixed maturity securities: U.S. government and government sponsored entities $ — — % $ — — % Obligations of states, municipalities and political subdivisions 111 2 111 2 Non-U.S. governments 46 1 66 1 Corporate debt 2,577 46 2,392 47 Mortgage-backed, asset-backed and collateralized: RMBS 358 6 286 6 CMBS 309 6 331 7 CLO/ABS and other collateralized 1,540 27 1,299 26 Total mortgage-backed, asset-backed and collateralized 2,207 39 1,916 39 Total fixed maturity securities 4,941 88 4,485 89 Equity securities 660 12 575 11 Total $ 5,601 100 % $ 5,060 100 % OTHER INVESTED ASSETS The following table summarizes the carrying amounts of other invested assets: (in millions) June 30, 2023 December 31, 2022 Alternative investments (a)(b) $ 11,792 $ 11,809 Investment real estate (c) 2,218 2,153 All other investments (d) 2,057 1,991 Total $ 16,067 $ 15,953 (a) At June 30, 2023, included hedge funds of $1.0 billion and private equity funds of $10.8 billion. At December 31, 2022, included hedge funds of $1.4 billion and private equity funds of $10.4 billion. (b) At June 30, 2023, approximately 51 percent of our hedge fund portfolio is available for redemption in 2023. The remaining 49 percent will be available for redemption between 2024 and 2028. (c) Represents values net of accumulated depreciation. At June 30, 2023 and December 31, 2022, the accumulated depreciation was $806 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 June 30, 2023 and December 31, 2022, respectively. NET INVESTMENT INCOME The following table presents the components of Net investment income: Three Months Ended June 30, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 2,629 $ 232 $ 2,861 $ 2,147 $ 267 $ 2,414 Other fixed maturity securities (a) 8 (7) 1 (175) (180) (355) Equity securities 43 — 43 (30) — (30) Interest on mortgage and other loans 625 58 683 460 51 511 Alternative investments (b) 147 13 160 109 56 165 Real estate 17 — 17 32 — 32 Other investments (c) 8 1 9 37 3 40 Total investment income 3,477 297 3,774 2,580 197 2,777 Investment expenses 197 6 203 164 9 173 Net investment income $ 3,280 $ 291 $ 3,571 $ 2,416 $ 188 $ 2,604 Six Months Ended June 30, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 5,175 $ 475 $ 5,650 $ 4,188 $ 568 $ 4,756 Other fixed maturity securities (a) 20 116 136 (376) (298) (674) Equity securities 94 — 94 (57) — (57) Interest on mortgage and other loans 1,192 117 1,309 913 97 1,010 Alternative investments (b) 223 44 267 778 127 905 Real estate 20 — 20 32 — 32 Other investments (c) 36 — 36 194 3 197 Total investment income 6,760 752 7,512 5,672 497 6,169 Investment expenses 393 15 408 310 18 328 Net investment income $ 6,367 $ 737 $ 7,104 $ 5,362 $ 479 $ 5,841 (a) Included in the three and six months ended June 30, 2022 were income (loss) of $(55) million and $(151) million, respectively, related to fixed maturity securities measured at fair value that economically hedge liabilities described in (c) below. (b) Included income from hedge funds, private equity funds and affordable housing partnerships. Hedge funds are recorded as of the balance sheet date. Private equity funds are generally reported on a one-quarter lag. (c) Included in the three and six months ended June 30, 2023 were income (loss) of $(1) million and $(4) million, respectively, related to liabilities measured at fair value that are economically hedged with fixed maturity securities as described in (a) above. Included in the three and six months ended June 30, 2022 were income (loss) of $41 million and $132 million, respectively, related to liabilities measured at fair value that are economically hedged with fixed maturity securities as described in (a) above. 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. • Most changes in the fair value of free standing and embedded derivatives, including changes in the non-performance adjustment are included in Net realized gains (losses). However, changes in derivatives designated as hedging instruments when the fair value of the hedged item is not reported in Net realized gains (losses) are excluded from Net realized gains (losses). Additionally, in conjunction with the adoption of LDTI, changes in the fair value of free standing derivatives that hedge certain MRBs are excluded from 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 June 30, 2023 2022 (in millions) Excluding Fortitude Re Total Excluding Fortitude Re Total Sales of fixed maturity securities $ (287) $ (54) $ (341) $ (482) $ (122) $ (604) Change in allowance for credit losses on fixed maturity securities (56) (2) (58) (47) (1) (48) Change in allowance for credit losses on loans (46) (5) (51) 24 6 30 Foreign exchange transactions 211 11 222 (229) (15) (244) Index-linked interest credited embedded derivatives, net of related hedges (141) — (141) (20) — (20) All other derivatives and hedge accounting* 26 (87) (61) 682 48 730 Sales of alternative investments and real estate investments 4 (1) 3 7 2 9 Other (50) — (50) 7 (4) 3 Net realized losses – excluding Fortitude Re funds withheld embedded derivative (339) (138) (477) (58) (86) (144) Net realized gains on Fortitude Re funds withheld embedded derivative — 180 180 — 2,776 2,776 Net realized gains (losses) $ (339) $ 42 $ (297) $ (58) $ 2,690 $ 2,632 Six Months Ended June 30, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Sales of fixed maturity securities $ (674) $ (119) $ (793) $ (589) $ (154) $ (743) Change in allowance for credit losses on fixed maturity securities (72) (2) (74) (100) (41) (141) Change in allowance for credit losses on loans (88) (26) (114) 5 (2) 3 Foreign exchange transactions 325 27 352 (242) (24) (266) Index-linked interest credited embedded derivatives, net of related hedges (319) — (319) 183 — 183 All other derivatives and hedge accounting* (191) (49) (240) 1,082 (8) 1,074 Sales of alternative investments and real estate investments 8 — 8 23 3 26 Other (41) — (41) (19) — (19) Net realized gains (losses) – excluding Fortitude Re funds withheld embedded derivative (1,052) (169) (1,221) 343 (226) 117 Net realized gains (losses) on Fortitude Re funds withheld embedded derivative — (985) (985) — 6,094 6,094 Net realized gains (losses) $ (1,052) $ (1,154) $ (2,206) $ 343 $ 5,868 $ 6,211 * Derivative activity related to hedging MRBs is recorded in Change in the fair value of MRBs, net. For additional disclosures about MRBs, see Note 13. 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 Six Months Ended (in millions) 2023 2022 2023 2022 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (1,934) $ (17,897) $ 3,071 $ (38,057) Other investments — (7) — (14) Total increase (decrease) in unrealized appreciation (depreciation) of investments* $ (1,934) $ (17,904) $ 3,071 $ (38,071) * Excludes net unrealized gains and losses attributable to businesses held for sale at June 30, 2023. The following table summarizes the unrealized gains and losses recognized in Net investment income during the reporting period on equity securities and other investments still held at the reporting date: Three Months Ended June 30, 2023 2022 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ 43 $ 187 $ 230 $ (30) $ (71) $ (101) Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period (13) 17 4 (1) (33) (34) Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ 56 $ 170 $ 226 $ (29) $ (38) $ (67) Six Months Ended June 30, 2023 2022 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ 94 $ 297 $ 391 $ (57) $ 404 $ 347 Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period 140 18 158 93 (36) 57 Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ (46) $ 279 $ 233 $ (150) $ 440 $ 290 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 June 30, 2023 2022 (in millions) Structured Non- Total Structured Non- Total Balance, beginning of period $ 45 $ 91 $ 136 $ 15 $ 176 $ 191 Additions: Securities for which allowance for credit losses were not previously recorded 16 40 56 2 28 30 Reductions: Securities sold during the period (2) (16) (18) (1) (40) (41) 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 — 2 2 10 8 18 Write-offs charged against the allowance (10) (37) (47) — (22) (22) Other (2) (2) (4) — (1) (1) Balance, end of period $ 47 $ 78 $ 125 $ 26 $ 149 $ 175 Six Months Ended June 30, 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 18 62 80 51 156 207 Reductions: Securities sold during the period (3) (26) (29) (1) (41) (42) 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) (2) (6) (32) (34) (66) Write-offs charged against the allowance (10) (87) (97) — (22) (22) Other — (9) (9) — — — Balance, end of period $ 47 $ 78 $ 125 $ 26 $ 149 $ 175 Purchased Credit Deteriorated (PCD) Securities We purchase certain RMBS securities that have experienced more-than-insignificant deterioration in credit quality since origination. These are referred to as PCD assets. At the time of purchase an allowance is recognized for these PCD assets by adding it to the purchase price to arrive at the initial amortized cost. There is no credit loss expense recognized upon acquisition of a PCD asset. When determining the initial allowance for credit losses, management considers the historical performance of underlying assets and available market information as well as bond-specific structural considerations, such as credit enhancement and the priority of payment structure of the security. In addition, the process of estimating future cash flows includes, but is not limited to, the following critical inputs: • Current delinquency rates; • Expected default rates and the timing of such defaults; • Loss severity and the timing of any recovery; and • Expected prepayment speeds. Subsequent to the acquisition date, the PCD assets follow the same accounting as other structured securities that are not high credit quality. We did not purchase securities with more than insignificant credit deterioration since their origination during the six months ended June 30, 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) June 30, 2023 December 31, 2022 Fixed maturity securities available for sale $ 542 $ 2,968 At June 30, 2023 and December 31, 2022, amounts borrowed under repurchase and securities lending agreements totaled $532 million 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 June 30, 2023 Bonds available for sale: Non-U.S. governments $ — $ — $ — $ — $ — $ — Corporate debt 27 515 — — — 542 Total $ 27 $ 515 $ — $ — $ — $ 542 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 We also enter into agreements in which securities are purchased by us under reverse repurchase agreements, which are accounted for as secured financing transactions and reported as short-term investments or other assets, depending on their terms. These agreements are recorded at their contracted resale amounts plus accrued interest, other than those that are accounted for at fair value. In all reverse repurchase transactions, we take possession of or obtain a security interest in the related securities, and we have the right to sell or repledge this collateral received. The following table presents information on the fair value of securities pledged to us under reverse repurchase agreements: (in millions) June 30, 2023 December 31, 2022 Securities collateral pledged to us $ 2,019 $ — At June 30, 2023, the carrying value of reverse repurchase agreements totaled $2.0 billion. 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 $14.5 billion and $13.6 billion at June 30, 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 $263 million and $239 million of stock in FHLBs at June 30, 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 $7.1 billion and $2.5 billion, respectively, at June 30, 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 $56 million and $63 million, at June 30, 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 $303 million and $301 million, comprised of bonds available for sale and short-term investments at June 30, 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	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Lending Activities	7. Lending Activities The following table presents the composition of Mortgage and other loans receivable, net: (in millions) June 30, 2023 December 31, 2022 Commercial mortgages (a) $ 37,926 $ 37,128 Residential mortgages 7,708 6,130 Life insurance policy loans 1,762 1,758 Commercial loans, other loans and notes receivable (b) 5,015 5,305 Total mortgage and other loans receivable (c) 52,411 50,321 Allowance for credit losses (c) (d) (806) (716) Mortgage and other loans receivable, net (c) $ 51,605 $ 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 18 percent and 11 percent, respectively, at June 30, 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 June 30, 2023 and December 31, 2022, the net carrying value of these loans were $186 million and $170 million, respectively. (c) Excludes $37.6 billion at both June 30, 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 $87 million and $69 million, respectively, at June 30, 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 June 30, 2023, $6 million and $708 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 June 30, 2023, accrued interest receivable was $20 million and $171 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: June 30, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) >1.2X $ 1,363 $ 5,558 $ 2,531 $ 1,263 $ 5,190 $ 14,809 $ 30,714 1.00 - 1.20X 54 1,138 1,152 912 230 1,771 5,257 <1.00X 67 50 — 23 — 1,815 1,955 Total commercial mortgages $ 1,484 $ 6,746 $ 3,683 $ 2,198 $ 5,420 $ 18,395 $ 37,926 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: June 30, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) Less than 65% $ 1,048 $ 5,172 $ 2,744 $ 1,956 $ 3,948 $ 13,155 $ 28,023 65% to 75% 348 1,210 650 76 1,422 2,852 6,558 76% to 80% — 364 52 — — 469 885 Greater than 80% 88 — 237 166 50 1,919 2,460 Total commercial mortgages $ 1,484 $ 6,746 $ 3,683 $ 2,198 $ 5,420 $ 18,395 $ 37,926 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 June 30, 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 58 percent at June 30, 2023 and 59 percent at 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 June 30, 2023 Past Due Status: In good standing 618 $ 15,282 $ 9,766 $ 4,000 $ 6,180 $ 2,062 $ 437 $ 37,727 99 % 90 days or less delinquent — — — — — — — — — >90 days delinquent or in process of foreclosure (a) 4 — 157 42 — — — 199 1 Total (b) 622 $ 15,282 $ 9,923 $ 4,042 $ 6,180 $ 2,062 $ 437 $ 37,926 100 % Allowance for credit losses $ 98 $ 431 $ 94 $ 76 $ 29 $ 9 $ 737 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 (a) 4 — 173 42 — — — 215 1 Total (b) 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) Includes $157 million and $156 million of Office loans supporting the Fortitude Re funds withheld arrangements, greater than 90 days delinquent or in process of foreclosure, at June 30, 2023 and December 31, 2022, respectively. (b) Does not reflect allowance for credit losses. The following table presents credit quality performance indicators for residential mortgages by year of vintage: June 30, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) FICO*: 780 and greater $ 285 $ 553 $ 2,317 $ 640 $ 241 $ 628 $ 4,664 720 - 779 664 582 540 169 80 235 2,270 660 - 719 170 250 88 38 26 106 678 600 - 659 2 21 7 7 6 40 83 Less than 600 — — 1 1 2 9 13 Total residential mortgages $ 1,121 $ 1,406 $ 2,953 $ 855 $ 355 $ 1,018 $ 7,708 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 June 30, 2023 (b) 2022 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of period $ 706 $ 80 $ 786 $ 533 $ 84 $ 617 Loans charged off (6) — (6) — — — Net charge-offs (6) — (6) — — — Addition to (release of) allowance for loan losses 37 (11) 26 (8) (6) (14) Reclassified to held for sale — — — — — — Allowance, end of period $ 737 $ 69 $ 806 $ 525 $ 78 $ 603 Six Months Ended June 30, 2023 (b) 2022 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of year $ 640 $ 76 $ 716 $ 545 $ 84 $ 629 Loans charged off (6) — (6) (4) — (4) Net charge-offs (6) — (6) (4) — (4) Addition to (release of) allowance for loan losses 103 (7) 96 (16) (6) (22) Reclassified to held for sale — — — — — — Allowance, end of period $ 737 $ 69 $ 806 $ 525 $ 78 $ 603 (a) Does not include allowance for credit losses of $87 million and $89 million, respectively, at June 30, 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 at both June 30, 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 six months ended June 30, 2023, AIG did not modify any loans to borrowers experiencing financial difficulty. There were no loans that had defaulted during the six months ended June 30, 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	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Reinsurance	8. 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 (in millions) Total Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes (c) 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 (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. (c) 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 OCI). 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 June 30, 2023, approximately $27.5 billion of reserves from our Life and Retirement Run-Off Lines and approximately $3.1 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: June 30, 2023 December 31, 2022 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 17,595 $ 17,595 $ 18,821 $ 18,821 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 4,558 4,558 4,182 4,182 Fair value through net investment income Commercial mortgage loans 4,196 3,928 4,107 3,837 Amortized cost Real estate investments 126 302 133 348 Amortized cost Private equity funds / hedge funds 1,940 1,940 1,893 1,893 Fair value through net investment income Policy loans 341 341 355 355 Amortized cost Short-term investments 255 255 75 75 Fair value through net investment income Funds withheld investment assets 29,011 28,919 29,566 29,511 Derivative assets, net (b) 58 58 90 90 Fair value through net realized gains (losses) Other (c) 611 611 782 782 Amortized cost Total $ 29,680 $ 29,588 $ 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 $376 million ($297 million after-tax) and $(6.1) billion ($(4.8) billion after-tax), respectively for the six months ended June 30, 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 $191 million and $25 million, respectively, as of June 30, 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 Six Months Ended (in millions) 2023 2022 2023 2022 Net investment income - Fortitude Re funds withheld assets $ 291 $ 188 $ 737 $ 479 Net realized gains (losses) on Fortitude Re funds withheld assets: Net realized losses - Fortitude Re funds withheld assets (138) (86) (169) (226) Net realized gains (losses) - Fortitude Re funds withheld embedded derivative 180 2,776 (985) 6,094 Net realized gains (losses) on Fortitude Re funds withheld assets 42 2,690 (1,154) 5,868 Income (loss) from continuing operations before income tax expense (benefit) 333 2,878 (417) 6,347 Income tax expense (benefit) (a) 70 605 (88) 1,333 Net income (loss) 263 2,273 (329) 5,014 Change in unrealized appreciation (depreciation) of all other investments (a) (259) (2,156) 297 (4,794) Comprehensive income (loss) $ 4 $ 117 $ (32) $ 220 (a) The income tax expense (benefit) and the tax impact in AOCI was computed using AIG’s U.S. statutory tax rate of 21 percent. Various assets supporting the Fortitude Re funds withheld arrangements are reported at amortized cost, and as such, changes in the fair value of these assets are not reflected in the financial statements. However, changes in the fair value of these assets are included in the embedded derivative in the Fortitude Re funds withheld arrangement and the appreciation (depreciation) of the asset is the primary driver of the comprehensive income (loss) reflected above. REINSURANCE – CREDIT LOSSES The estimation of reinsurance recoverables involves a significant amount of judgment, particularly for latent exposures, such as asbestos, due to their long-tail nature. 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 June 30, 2023 were $72.5 billion. As of that date, utilizing AIG’s ORRs, (i) approximately 90 percent of the reinsurance recoverables were investment grade, of which 50 percent related to General Insurance and 40 percent related to Life and Retirement; and (ii) approximately 10 percent of the reinsurance recoverables were non-investment grade, the majority of which related to General Insurance. 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 June 30, 2023 and December 31, 2022, approximately 85 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 June 30, 2023 2022 (in millions) General Insurance Life and Retirement Total General Insurance Life and Retirement Total Balance, beginning of period $ 253 $ 74 $ 327 $ 286 $ 105 $ 391 Addition to (release of) allowance for expected credit losses and disputes, net (1) (8) (9) (4) 2 (2) Write-offs charged against the allowance for credit losses and disputes — — — — — — Recoveries of amounts previously written off — — — 2 — 2 Other changes 2 — 2 — — — Balance, end of period $ 254 $ 66 $ 320 $ 284 $ 107 $ 391 Six Months Ended June 30, 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 (4) (18) (22) 1 6 7 Write-offs charged against the allowance for credit losses and disputes (1) — (1) (2) — (2) Recoveries of amounts previously written off — — — 2 — 2 Other changes (1) — (1) 2 — 2 Balance, end of period $ 254 $ 66 $ 320 $ 284 $ 107 $ 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	6 Months Ended
	Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Policy Acquisition Costs	9. 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 OCI. 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 OCI. 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. For life insurance contracts, amortization is based on insurance in-force, while initial deposits are used for deferred annuity contracts, structured settlements and pension risk transfer products. 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. Value of Business Acquired (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: Six Months Ended June 30, 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 2,385 358 37 234 10 3,024 Amortization expense (1,965) (272) (41) (201) (4) (2,483) Other, including foreign exchange* (734) — — 38 — (696) Balance, end of period $ 1,996 $ 4,683 $ 1,056 $ 4,910 $ 57 $ 12,702 Six Months Ended June 30, 2022 Balance, beginning of year $ 2,428 $ 4,553 $ 1,078 $ 4,904 $ 38 $ 13,001 Capitalization 2,046 281 29 215 6 2,577 Amortization expense (1,759) (242) (39) (210) (3) (2,253) Other, including foreign exchange (130) — — (77) — (207) Balance, end of period $ 2,585 $ 4,592 $ 1,068 $ 4,832 $ 41 $ 13,118 * Includes $712 million reclassified to Assets held for sale on the Condensed Consolidated Balance Sheets. 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 OCI. 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 * Other 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: Six Months Ended June 30, 2023 2023 2022 (in millions) Individual Group Total Individual Group Total Balance, beginning of year $ 381 $ 177 $ 558 $ 428 $ 191 $ 619 Capitalization 4 1 5 4 — 4 Amortization expense (27) (7) (34) (26) (7) (33) Balance, end of period* $ 358 $ 171 $ 529 $ 406 $ 184 $ 590 * At June 30, 2023 and 2022, Other assets, excluding DSI, totaled $12.3 billion and $13.0 billion, respectively.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	10. 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 June 30, 2023 Assets: Bonds available for sale $ — $ 236 $ 236 Equity securities 34 — 34 Mortgage and other loans receivable — 2,139 2,139 Other invested assets Alternative investments (a) 2,860 — 2,860 Investment real estate 1,784 — 1,784 Short-term investments 292 33 325 Cash 99 — 99 Accrued investment income — 16 16 Other assets 130 1 131 Total (b) $ 5,199 $ 2,425 $ 7,624 Liabilities: Debt of consolidated investment entities $ 1,410 $ 1,197 $ 2,607 Other (c) 102 23 125 Total $ 1,512 $ 1,220 $ 2,732 (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 June 30, 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 June 30, 2023 and December 31, 2022. (d) At June 30, 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 six months ended June 30, 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 $3.6 billion in assets and $3.1 billion in liabilities, resulting in a pre-tax loss of $14 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 June 30, 2023 Real estate and investment entities (a) $ 513,797 $ 9,318 $ 3,826 (d) $ 13,144 Other (b) 1,027 58 748 (e) 806 Total $ 514,824 $ 9,376 $ 4,574 $ 13,950 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 June 30, 2023 and December 31, 2022, excludes approximately $1,986 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 $1,959 million and $2,033 million, respectively. For additional information, see Note 1. (c) At June 30, 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	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedge Accounting	11. 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: June 30, 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 $ 642 $ 210 $ 1,428 $ 38 $ 251 $ 355 $ 1,688 $ 66 Foreign exchange contracts 4,978 530 3,752 275 4,543 642 4,899 317 Derivatives not designated as hedging instruments: (a) Interest rate contracts 35,331 2,251 30,855 3,070 39,833 3,367 34,128 4,772 Foreign exchange contracts 9,968 897 10,077 524 8,626 1,202 10,397 821 Equity contracts 35,621 1,280 9,042 347 31,264 428 4,740 26 Commodity contracts — — — — 212 9 20 — Credit contracts (b) 1,807 33 537 39 1,808 32 933 41 Other contracts (c) 46,017 15 — — 47,184 14 — — Total derivatives, gross $ 134,364 $ 5,216 $ 55,691 $ 4,293 $ 133,721 $ 6,049 $ 56,805 $ 6,043 Counterparty netting (d) (2,826) (2,826) (3,895) (3,895) Cash collateral (e) (1,980) (1,182) (1,640) (1,917) Total derivatives on Condensed Consolidated Balance Sheets (f) $ 410 $ 285 $ 514 $ 231 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) As of June 30, 2023 and December 31, 2022, included CDSs on super senior multi-sector CLO with a net notional amount of $53 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 $2.1 billion at June 30, 2023 and $2.2 billion at December 31, 2022. Fair value of liabilities related to bifurcated embedded derivatives was $6.9 billion and $5.4 billion, respectively, at June 30, 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 8. 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 $2.2 billion and $2.9 billion at June 30, 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 $2.4 billion and $2.0 billion at June 30, 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 and six months ended June 30, 2023, we recognized gains (losses) of $(8) million and $(33) million, respectively, and for the three and six months ende d June 30, 2022, we recognized gains (losses) of $220 million and $307 million, respectively, included in Change in foreign currency translation adjustments in OCI related to the net investment hedge relationships. A qualitative methodology is utilized to assess hedge effectiveness for net investment hedges, while regression analysis is employed for all other hedges. The following table presents the gain (loss) recognized in income on our derivative instruments in fair value hedging relationships in the Condensed Consolidated Statements of Income (Loss): Gains/(Losses) Recognized in Income for: (in millions) Hedging Derivatives (a) Excluded Components (b) Hedged Net Impact Three Months Ended June 30, 2023 Interest rate contracts: Interest credited to policyholder account balances $ (7) $ 1 $ (3) $ (9) Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) (314) 121 314 121 Three Months Ended June 30, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (7) $ — $ 8 $ 1 Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) 325 98 (325) 98 Six Months Ended June 30, 2023 Interest rate contracts: Interest credited to policyholder account balances $ 36 $ 1 $ (50) $ (13) Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) (444) 197 444 197 Six Months Ended June 30, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (28) $ — $ 31 $ 3 Net investment income 1 — (1) — Foreign exchange contracts: Net realized gains/(losses) 434 140 (434) 140 (a) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are included in the assessment of hedge effectiveness. (b) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are excluded from the assessment of hedge effectiveness and recognized in income on a mark-to-market basis. DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS The following table presents the effect of derivative instruments not designated as hedging instruments in the Condensed Consolidated Statements of Income (Loss): Gains (Losses) Recognized in Income Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 By Derivative Type: Interest rate contracts $ (179) $ (869) $ (84) $ (1,482) Foreign exchange contracts (220) 730 (321) 966 Equity contracts 3 78 (75) (126) Commodity contracts 1 (3) 8 (7) Credit contracts — — (1) (1) Other contracts 17 13 33 31 Embedded derivatives (256) 3,333 (1,804) 7,312 Total $ (634) $ 3,282 $ (2,244) $ 6,693 By Classification: Policy fees $ 17 $ 15 $ 33 $ 30 Net investment income - excluding Fortitude Re funds withheld assets — 3 — 2 Net investment income - Fortitude Re funds withheld assets — — (2) — Net realized gains (losses) - excluding Fortitude Re funds withheld assets (120) 659 (511) 1,266 Net realized gains (losses) on Fortitude Re funds withheld assets (a) 93 2,824 (1,034) 6,086 Policyholder benefits and claims incurred (3) (7) — (14) Change in the fair value of market risk benefits, net (b) (621) (212) (730) (677) Total $ (634) $ 3,282 $ (2,244) $ 6,693 (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 June 30, 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 $33 million and $32 million at June 30, 2023 and December 31, 2022, respectively. The aggregate fair value of assets posted as collateral under these contracts at June 30, 2023 and December 31, 2022, was approximately $33 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, CLO 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 June 30, 2023 and December 31, 2022, respectively. These securities have par amounts of $42 million and $42 million at June 30, 2023 and December 31, 2022, respectively, and have remaining stated maturity dates that extend to 2052.

Insurance Liabilities

Insurance Liabilities	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Insurance Liabilities	12. 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 $12.4 billion and $12.1 billion at June 30, 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 June 30, 2023 and December 31, 2022 we held collateral of approximately $8.8 billion and $8.6 billion, respectively, for these deductible recoverable amounts, consisting primarily of letters of credit and funded trust agreements. Allowance for credit losses for the unsecured portion of these recoverable amounts was $14 million at both June 30, 2023 and December 31, 2022. The following table presents the rollforward of activity in loss reserves: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 75,793 $ 78,183 $ 75,167 $ 79,026 Reinsurance recoverable (32,366) (34,321) (32,102) (35,213) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 43,427 43,862 43,065 43,813 Losses and loss adjustment expenses incurred: Current year 3,945 3,765 7,729 7,647 Prior years, excluding discount and amortization of deferred gain (107) (374) (134) (425) Prior years, discount charge (benefit) 54 38 148 42 Prior years, amortization of deferred gain on retroactive reinsurance (a) (25) 28 (85) (14) Total losses and loss adjustment expenses incurred 3,867 3,457 7,658 7,250 Losses and loss adjustment expenses paid: Current year (881) (834) (1,170) (1,157) Prior years (2,994) (2,729) (6,543) (6,171) Total losses and loss adjustment expenses paid (3,875) (3,563) (7,713) (7,328) Other changes: Foreign exchange effect (25) (800) 372 (796) Retroactive reinsurance adjustment (net of discount) (b) 47 200 59 217 Reclassified to held for sale, net of reinsurance recoverables (3,383) — (3,383) — Total other changes (3,361) (600) (2,952) (579) Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 40,058 43,156 40,058 43,156 Reinsurance recoverable (c) 30,226 33,583 30,226 33,583 Total $ 70,284 $ 76,739 $ 70,284 $ 76,739 (a) Includes $6 million and $6 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 months ended June 30, 2023 and 2022, respectively, and $13 million and $10 million for the six months ended June 30, 2023 and 2022, respectively. (b) Includes benefit (charge) from change in discount on retroactive reinsurance in the amount of $26 million and $18 million for the three months ended June 30, 2023 and 2022 respectively, and $96 million and $57 million for the six months ended June 30, 2023 and 2022, respectively. (c) Excludes $1.5 billion of Reinsurance recoverable reclassified to Assets held for sale on the Condensed Consolidated Balance Sheets at June 30, 2023. 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 months ended June 30, 2023, we recognized favorable prior year loss reserve development of $107 million excluding discount and amortization of deferred gain. The development in this period was largely driven by favorable development on our loss sensitive U.S. Workers Compensation business, U.S. Other Casualty and U.S. Property & Special Risks including prior year catastrophes, partially offset by unfavorable development on European Casualty. During the six months ended June 30, 2023, we recognized favorable prior year loss reserve development of $134 million excluding discount and amortization of deferred gain. The development in this period was largely driven by favorable development on our loss sensitive U.S. Workers Compensation business, U.S. Other Casualty and U.S. Property & Special Risks, partially offset by unfavorable development on European Casualty. During the three months ended June 30, 2022, we recognized favorable prior year loss reserve development of $374 million excluding discount and amortization of deferred gain. During the six months ended June 30, 2022, we recognized favorable prior year loss reserve development of $425 million excluding discount and amortization of deferred gain. The development in these periods was primarily driven by favorable development on U.S. Workers Compensation, U.S. Other Casualty and Japan Personal Insurance, partially offset by unfavorable development on U.S Property and Special Risks. Discounting of Loss Reserves At June 30, 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 June 30, 2023 and December 31, 2022, the discount consists of $324 million and $314 million of tabular discount, respectively, and $970 million and $964 million of non-tabular discount for workers’ compensation, respectively. During the six months ended June 30, 2023 and 2022, the benefit / (charge) from changes in discount of $(80) million and $6 million, respectively, were recorded as part of Policyholder benefits and losses incurred in the Condensed Consolidated Statements of Income (Loss). The following table presents the components of the loss reserve discount discussed above: (in millions) June 30, 2023 December 31, 2022 U.S. workers' compensation $ 2,452 $ 2,532 Retroactive reinsurance (1,158) (1,254) Total reserve discount (a)(b) $ 1,294 $ 1,278 (a) Excludes $143 million and $135 million of discount related to certain long-tail liabilities in the UK at June 30, 2023 and December 31, 2022, respectively. (b) Includes gross discount of $748 million and $763 million, which was 100 percent ceded to Fortitude Re at June 30, 2023 and December 31, 2022, respectively. The following table presents the net loss reserve discount benefit (charge): Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Current accident year $ 38 $ 24 $ 68 $ 48 Accretion and other adjustments to prior year discount (54) (38) (148) (42) Net reserve discount benefit (charge) (16) (14) (80) 6 Change in discount on loss reserves ceded under retroactive reinsurance 26 18 96 57 Net change in total reserve discount* $ 10 $ 4 $ 16 $ 63 * Excludes $4 million and $(7) million discount related to certain long-tail liabilities in the UK for the three months ended June 30, 2023 and 2022, respectively, and excludes $8 million and $(5) million discount related to certain long-tail liabilities in the UK for the six months ended June 30, 2023 and 2022, respectively. Amortization of Deferred Gain on Retroactive Reinsurance Amortization of the deferred gain on retroactive reinsurance includes $19 million and $(34) million related to the adverse development reinsurance cover with NICO for the three months ended June 30, 2023 and 2022, respectively, and $72 million and $4 million related to the adverse development reinsurance cover with NICO for the six months ended June 30, 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 OCI. 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 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 yields. 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 OCI. 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. 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. 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 following tables present 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: Six Months Ended June 30, 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 (26) — — 10 — 6 (10) Adjusted beginning of year balance 2,165 — — 13,536 — 1,063 16,764 Issuances 67 — — 666 — — 733 Interest accrual 21 — — 214 — 23 258 Net premium collected (117) — — (719) — (59) (895) Foreign exchange impact (88) — — 206 — — 118 Other — — — 10 — — 10 Ending balance at original discount rate 2,048 — — 13,913 — 1,027 16,988 Effect of changes in discount rate assumptions (AOCI) (330) — — (1,904) — (61) (2,295) Balance, end of period $ 1,718 $ — $ — $ 12,009 $ — $ 966 $ 14,693 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) (16) (1) — 36 17 (8) 28 Adjusted beginning of year balance 2,726 1,389 213 24,639 15,115 21,504 65,586 Issuances 70 120 6 656 3,301 3 4,156 Interest accrual 26 25 5 450 301 513 1,320 Benefit payments (122) (65) (13) (943) (521) (739) (2,403) Foreign exchange impact (121) — — 236 308 — 423 Other — — — 5 — (6) (1) Ending balance at original discount rate 2,579 1,469 211 25,043 18,504 21,275 69,081 Effect of changes in discount rate assumptions (AOCI) (423) (158) (1) (3,386) (2,752) (822) (7,542) Balance, end of period $ 2,156 $ 1,311 $ 210 $ 21,657 $ 15,752 $ 20,453 $ 61,539 Net liability for future policy benefits, end of period $ 438 $ 1,311 $ 210 $ 9,648 $ 15,752 $ 19,487 $ 46,846 Liability for future policy benefits for certain participating contracts 1,329 Liability for universal life policies with secondary guarantees and similar features (b) 3,458 Deferred profit liability 2,451 Other reconciling items (c) 1,606 Future policy benefits for life and accident and health insurance contracts 55,690 Less: Reinsurance recoverable (23,765) Net liability for future policy benefits after reinsurance recoverable $ 31,925 Weighted average liability duration of the liability for future policy benefits (d) 9.9 7.8 6.9 12.5 11.6 11.5 Six Months Ended June 30, 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 — — (8) — 4 (4) Adjusted beginning of year balance — — 13,655 — 1,128 14,783 Issuances — — 728 — — 728 Interest accrual — — 199 — 25 224 Net premium collected — — (710) — (62) (772) Foreign exchange impact — — (479) — — (479) Other — — — — — — Ending balance at original discount rate — — 13,393 — 1,091 14,484 Effect of changes in discount rate assumptions (AOCI) — — (1,174) — (16) (1,190) Balance, end of period $ — $ — $ 12,219 $ — $ 1,075 $ 13,294 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) (7) (1) (6) (5) (18) (37) Adjusted beginning of year balance 1,271 217 24,719 13,015 21,983 61,205 Issuances 102 7 726 708 5 1,548 Interest accrual 20 4 439 215 615 1,293 Benefit payments (56) (13) (905) (390) (746) (2,110) Foreign exchange impact — — (610) (318) — (928) Other — — (1) — (98) (99) Ending balance at original discount rate 1,337 215 24,368 13,230 21,759 60,909 Effect of changes in discount rate assumptions (AOCI) (109) 10 (1,868) (1,712) 451 (3,228) Balance, end of period $ 1,228 $ 225 $ 22,500 $ 11,518 $ 22,210 $ 57,681 Net liability for future policy benefits, end of period $ 1,228 $ 225 $ 10,281 $ 11,518 $ 21,135 $ 44,387 Liability for future policy benefits for certain participating contracts 1,373 Liability for universal life policies with secondary guarantees and similar features (b) 3,663 Deferred profit liability 2,199 Other reconciling items (c) 2,222 Future policy benefits for life and accident and health insurance contracts 53,844 Less: Reinsurance recoverable (26,677) Net liability for future policy benefits after reinsurance recoverable $ 27,167 Weighted average liability duration of the liability for future policy benefits (d) 7.7 7.2 12.7 11.1 12.0 (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 six months ended June 30, 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 $13 million and $8 million, respectively, with a charge to net income. The discount rate was updated based on market observable information. Relative to the prior period, the increase in upper-medium-grade fixed income yields resulted in a decrease in the liability for future policy benefits. The following table presents the amount of undiscounted expected future benefit payments and undiscounted and discounted expected gross premiums for future policy benefits for nonparticipating contracts: Six Months Ended June 30, (in millions) 2023 2022 General Insurance Undiscounted expected future benefits and expense $ 3,165 $ 3,421 Undiscounted expected future gross premiums 4,383 4,494 Discounted expected future gross premiums (at current discount rate) 3,109 3,533 Individual Retirement Undiscounted expected future benefits and expense $ 2,115 $ 1,835 Undiscounted expected future gross premiums — — Discounted expected future gross premiums (at current discount rate) — — Group Retirement Undiscounted expected future benefits and expense $ 316 $ 328 Undiscounted expected future gross premiums — — Discounted expected future gross premiums (at current discount rate) — — Life Insurance Undiscounted expected future benefits and expense $ 39,848 $ 38,406 Undiscounted expected future gross premiums 29,792 28,810 Discounted expected future gross premiums (at current discount rate) 19,207 19,704 Institutional Markets Undiscounted expected future benefits and expense $ 33,474 $ 21,092 Undiscounted expected future gross premiums — — Discounted expected future gross premiums (at current discount rate) — — Other* Undiscounted expected future benefits and expense $ 43,791 $ 45,258 Undiscounted expected future gross premiums 2,179 2,346 Discounted expected future gross premiums (at current discount rate) 1,435 1,602 * 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 Gross Premiums Interest Accretion Three Months Ended Three Months Ended Six Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 General Insurance $ 137 $ 155 $ 3 $ 3 $ 232 $ 252 $ 4 $ 4 Individual Retirement 61 57 13 10 136 108 25 20 Group Retirement 4 5 2 1 10 13 5 4 Life Insurance 600 586 118 119 1,175 1,168 236 240 Institutional Markets 1,919 503 162 110 3,500 747 301 215 Other* 53 57 245 341 107 113 490 590 Total $ 2,774 $ 1,363 $ 543 $ 584 $ 5,160 $ 2,401 $ 1,061 $ 1,073 * 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: Six Months Ended June 30, 2023 General Individual Group Life Institutional Other* Weighted-average interest rate, original discount rate 1.81 % 3.73 % 5.14 % 4.09 % 3.95 % 4.88 % Weighted-average interest rate, current discount rate 3.59 % 5.27 % 5.26 % 5.27 % 5.34 % 5.25 % Six Months Ended June 30, 2022 Weighted-average interest rate, original discount rate 1.67 % 3.37 % 5.20 % 4.15 % 3.30 % 4.84 % Weighted-average interest rate, current discount rate 2.68 % 4.61 % 4.58 % 4.62 % 4.52 % 4.72 % * 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 guaranteed minimum death benefits (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 $ — $ — $

Market Risk Benefits

Market Risk Benefits	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Market Risk Benefits	13. 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 guaranteed minimum income benefits (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 annuity 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 except for the portion of the fair value change attributable to our own credit risk, is recognized in OCI. 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 OCI, 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 AOCI 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 AOCI 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: Six Months Ended June 30, 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 379 19 398 Interest accrual 78 8 86 Attributed fees 442 33 475 Expected claims (48) (1) (49) Effect of changes in interest rates 34 3 37 Effect of changes in interest rate volatility (84) (4) (88) Effect of changes in equity markets (843) (78) (921) Effect of changes in equity index volatility 8 (4) 4 Actual outcome different from model expected outcome 93 12 105 Effect of changes in other future expected assumptions (94) (29) (123) Other, including foreign exchange — (2) (2) Balance, end of period, before effect of changes in our own credit risk 3,262 229 3,491 Effect of changes in our own credit risk 564 47 611 Balance, end of period 3,826 276 4,102 Less: Reinsured MRB, end of period (79) — (79) Net Liability Balance after reinsurance recoverable $ 3,747 $ 276 $ 4,023 Six Months Ended June 30, 2023 Individual Group Total (in millions, except for attained age of contract holders) Net amount at risk GMDB only $ 1,068 $ 212 $ 1,280 GMWB only $ 56 $ 4 $ 60 Combined* $ 1,435 $ 23 $ 1,458 Weighted average attained age of contract holders 70 64 Six Months Ended June 30, 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 97 11 108 Interest accrual 83 11 94 Attributed fees 409 37 446 Expected claims (28) (1) (29) Effect of changes in interest rates (2,864) (270) (3,134) Effect of changes in interest rate volatility 180 12 192 Effect of changes in equity markets 1,558 136 1,694 Effect of changes in equity index volatility (42) (4) (46) Actual outcome different from model expected outcome 130 13 143 Other, including foreign exchange 2 (8) (6) Balance, end of period, before effect of changes in our own credit risk 4,043 352 4,395 Effect of changes in our own credit risk 355 20 375 Balance, end of period 4,398 372 4,770 Less: Reinsured MRB, end of period (110) — (110) Net Liability Balance after reinsurance recoverable $ 4,288 $ 372 $ 4,660 Net amount at risk GMDB only $ 1,828 $ 396 $ 2,224 GMWB only $ 58 $ 5 $ 63 Combined* $ 2,052 $ 11 $ 2,063 Weighted average attained age of contract holders 70 64 * 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: June 30, 2023 June 30, 2022 (in millions) Asset* Liability* Net Asset* Liability* Net Individual Retirement $ 787 $ 4,534 $ 3,747 $ 527 $ 4,815 $ 4,288 Group Retirement 167 443 276 115 487 372 Total $ 954 $ 4,977 $ 4,023 $ 642 $ 5,302 $ 4,660 * 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 5. 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 GMWBs. 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. Certain of our variable annuity contracts also contain living benefit riders, which include optional GMWBs and, to a lesser extent, GMABs and GMIBs. These living benefits and GMDBs related to variable annuity contracts 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 assuming the utilization of all benefits by the contract holders at the balance sheet date. The net amount at risk for the GMDB feature represents the amount of guaranteed benefits in excess of account value if all policyholders died. 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 GMWBs. With a 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 GMWBs 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 GMWBs 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 5.

Separate Account Assets and Lia

Separate Account Assets and Liabilities	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Separate Account Assets and Liabilities	14. 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 5. The following table presents fair value of separate account investment options: June 30, 2023 June 30, 2022 (in millions) Individual Group Life Institutional Total Individual Group Life Institutional Total Equity Funds $ 24,804 $ 27,889 $ 777 $ 630 $ 54,100 $ 23,012 $ 25,210 $ 690 $ 576 $ 49,488 Bond Funds 3,974 3,428 43 1,302 8,747 3,887 4,010 46 1,358 9,301 Balanced Funds 17,911 5,375 51 1,880 25,217 18,684 5,181 49 2,444 26,358 Money Market Funds 720 553 17 364 1,654 679 501 22 386 1,588 Total $ 47,409 $ 37,245 $ 888 $ 4,176 $ 89,718 $ 46,262 $ 34,902 $ 807 $ 4,764 $ 86,735 The following table presents the balances and changes in Separate account liabilities: Six Months Ended June 30, 2023 Individual Group Life Institutional Total (in millions) Balance, beginning of year $ 45,178 $ 34,361 $ 799 $ 4,515 $ 84,853 Premiums and deposits 807 697 18 30 1,552 Policy charges (662) (221) (25) (47) (955) Surrenders and withdrawals (1,776) (1,390) (12) (422) (3,600) Benefit payments (432) (250) (3) (58) (743) Investment performance 4,172 4,169 113 146 8,600 Net transfers from (to) general account 122 (121) (2) 11 10 Other charges — — — 1 1 Balance, end of period $ 47,409 $ 37,245 $ 888 $ 4,176 $ 89,718 Cash surrender value* $ 46,307 $ 37,050 $ 854 $ 4,178 $ 88,389 Six Months Ended June 30, 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 1,354 868 19 33 2,274 Policy charges (646) (244) (25) (50) (965) Surrenders and withdrawals (1,741) (1,329) (11) (25) (3,106) Benefit payments (476) (283) (4) (12) (775) Investment performance (10,249) (8,987) (216) (208) (19,660) Net transfers from (to) general account 93 (261) — 22 (146) Other charges — — — 2 2 Balance, end of period $ 46,262 $ 34,902 $ 807 $ 4,764 $ 86,735 Cash surrender value* $ 45,154 $ 34,699 $ 792 $ 4,766 $ 85,411 * 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	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies, Commitments and Guarantees	15. 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 vacated the date and indicated that it would set a new trial date in due course, following consultation with the parties. Subsequently, the case was reassigned to a new District Court judge, who requested additional briefing on certain issues addressed by the summary judgment decisions and heard additional oral argument on those issues on July 19, 2023. The parties are awaiting a decision from the Court. We have accrued our current estimate of probable loss with respect to this litigation. 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. 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 $4.7 billion and $6.6 billion at June 30, 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. Due to the deconsolidation of AIGFP and its subsidiaries, as of June 30, 2023, a $99 million guarantee related to the obligations of AIGFP and certain of its subsidiaries was recognized, and 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 10. • For additional information on derivatives, see Note 11.

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Equity	16. 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: Six Months Ended June 30, 2023 Common Treasury Common Stock (in millions) Shares, beginning of year 1,906.7 (1,172.6) 734.1 Shares issued — 4.8 4.8 Shares repurchased — (21.4) (21.4) Shares, end of period 1,906.7 (1,189.2) 717.5 Dividends Dividends are payable on AIG common stock, par value $2.50 per share (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 August 1, 2023, the Board of Directors authorized the repurchase of $7.5 billion of AIG Common Stock (inclusive of the approximately $2.15 billion of expected remaining authorization under the Board's prior share repurchase authorization upon expiration of the current 10b5-1 plan as of August 7, 2023). 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 July 1, 2023 to July 26, 2023, we repurchased approximately 6 million shares of AIG Common Stock for an aggregate purchase price of approximately $336 million. DIVIDENDS DECLARED On August 1, 2023, our Board of Directors declared a cash dividend on AIG Common Stock of $0.36 per share, payable on September 29, 2023 to shareholders of record on September 15, 2023. On August 1, 2023, our Board of Directors declared a cash dividend on AIG’s Series A Preferred Stock of $365.625 per share, payable on September 15, 2023 to holders of record on August 31, 2023. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents a rollforward of Accumulated other comprehensive income (loss): * Includes net unrealized gains and losses attributable to businesses held for sale at June 30, 2023. The following table presents the other comprehensive income (loss) reclassification adjustments for the three and six months ended June 30, 2023 and 2022 , respectively: (in millions) Unrealized Unrealized Change in Fair Change in the Foreign Retirement Fair Value of Total Three Months Ended June 30, 2023 Unrealized change arising during period $ 97 $ (2,739) $ (241) $ 531 $ (25) $ 72 $ — $ (2,305) Less: Reclassification adjustments included in net income (7) (334) — — — (8) — (349) Total other comprehensive income (loss), before income tax expense (benefit) 104 (2,405) (241) 531 (25) 80 — (1,956) Less: Income tax expense (benefit) 20 (407) (51) 158 34 28 — (218) Total other comprehensive income (loss), net of income tax expense (benefit) $ 84 $ (1,998) $ (190) $ 373 $ (59) $ 52 $ — $ (1,738) Three Months Ended June 30, 2022 Unrealized change arising during period $ 36 $ (17,908) $ 737 $ 2,352 $ (273) $ 2 $ (4) $ (15,058) Less: Reclassification adjustments included in net income (8) (596) — — — (7) — (611) Total other comprehensive income (loss), before income tax expense (benefit) 44 (17,312) 737 2,352 (273) 9 (4) (14,447) Less: Income tax expense (benefit) 8 (2,530) 155 482 62 (7) — (1,830) Total other comprehensive income (loss), net of income tax expense (benefit) $ 36 $ (14,782) $ 582 $ 1,870 $ (335) $ 16 $ (4) $ (12,617) Six Months Ended June 30, 2023 Unrealized change arising during period $ 90 $ 1,827 $ (146) $ 4 $ (44) $ 90 $ — $ 1,821 Less: Reclassification adjustments included in net income (23) (770) — — — (17) — (810) Total other comprehensive income (loss), before of income tax expense (benefit) 113 2,597 (146) 4 (44) 107 — 2,631 Less: Income tax expense (benefit) 23 343 (31) 51 43 27 — 456 Total other comprehensive income (loss), net of income tax expense (benefit) $ 90 $ 2,254 $ (115) $ (47) $ (87) $ 80 $ — $ 2,175 Six Months Ended June 30, 2022 Unrealized change arising during period $ (21) $ (37,347) $ 1,728 $ 5,235 $ (276) $ 6 $ (4) $ (30,679) Less: Reclassification adjustments included in net income (8) (735) — — — (15) — (758) Total other comprehensive income (loss), before income tax expense (benefit) (13) (36,612) 1,728 5,235 (276) 21 (4) (29,921) Less: Income tax expense (benefit) (4) (5,689) 364 1,075 65 (4) — (4,193) Total other comprehensive income (loss), net of income tax expense (benefit) $ (9) $ (30,923) $ 1,364 $ 4,160 $ (341) $ 25 $ (4) $ (25,728) 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 June 30, 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 $ (7) $ (8) Net realized gains (losses) Total (7) (8) Unrealized appreciation (depreciation) of all other investments Investments (334) (596) Net realized gains (losses) Total (334) (596) Change in retirement plan liabilities adjustment Prior-service credit — — (b) Actuarial losses (8) (7) (b) Total (8) (7) Total reclassifications for the period $ (349) $ (611) Amount Reclassified from AOCI Affected Line Item in the Six Months Ended June 30, 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 $ (23) $ (8) Net realized gains (losses) Total (23) (8) Unrealized appreciation (depreciation) of all other investments Investments (770) (735) Net realized gains (losses) Total (770) (735) Change in retirement plan liabilities adjustment Prior-service credit (1) (1) (b) Actuarial losses (16) (14) (b) Total (17) (15) Total reclassifications for the period $ (810) $ (758) (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. (b) These AOCI components are included in the computation of net periodic pension cost. NON-CONTROLLING INTEREST On June 12, 2023, AIG closed a secondary offering of Corebridge common stock, selling 74.75 million existing shares (out of approximately 648 million total shares of common stock outstanding), which included 65 million shares initially offered and the full exercise by the underwriters of their option to purchase an additional 9.75 million shares. Corebridge also repurchased approximately 11 million shares of Corebridge common stock from AIG during the six months ended June 30, 2023. AIG owns 65.3 percent of the outstanding common stock of Corebridge as of June 30, 2023. For additional information on the Corebridge common stock offerings and share repurchases, see Note 1. The following table presents the effect of changes in our ownership interest in Corebridge on our equity: (in millions) Three Months Ended Six Months Ended Net income attributable to AIG common shareholders $ 1,485 $ 1,508 Changes in AIG equity for sale of interest in Corebridge and Corebridge share repurchases (86) (86) Change from Net income attributable to AIG common shareholders and changes in AIG's ownership interests $ 1,399 $ 1,422

Earnings Per Common Share (EPS)

Earnings Per Common Share (EPS)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Common Share (EPS)	17. Earnings Per Common Share (EPS) The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus common shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding and adjusted to reflect all stock dividends and stock splits, using the treasury stock method or the if-converted method, as applicable. The following table presents the computation of basic and diluted EPS: Three Months Ended Six Months Ended (dollars in millions, except per common share data) 2023 2022 2023 2022 Numerator for EPS: Income from continuing operations $ 1,691 $ 3,080 $ 1,604 $ 7,640 Less: Net income from continuing operations attributable to noncontrolling interests 198 325 81 712 Less: Preferred stock dividends 8 8 15 15 Income attributable to AIG common shareholders from continuing operations 1,485 2,747 1,508 6,913 Income (loss) from discontinued operations, net of income tax expense — (1) — (1) Net income attributable to AIG common shareholders $ 1,485 $ 2,746 $ 1,508 $ 6,912 Denominator for EPS: Weighted average common shares outstanding - basic 725,754,549 790,897,301 732,175,533 803,532,447 Dilutive common shares 4,792,563 9,833,445 5,115,161 9,765,891 Weighted average common shares outstanding - diluted (a) 730,547,112 800,730,746 737,290,694 813,298,338 Income (loss) per common share attributable to AIG common shareholders: Basic: Income from continuing operations $ 2.05 $ 3.47 $ 2.06 $ 8.60 Income from discontinued operations $ — $ — $ — $ — Income attributable to AIG common shareholders $ 2.05 $ 3.47 $ 2.06 $ 8.60 Diluted: Income from continuing operations $ 2.03 $ 3.43 $ 2.05 $ 8.50 Income from discontinued operations $ — $ — $ — $ — Income attributable to AIG common shareholders $ 2.03 $ 3.43 $ 2.05 $ 8.50 (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 6.6 million and 5.5 million for the three and six months ended June 30, 2023, respectively, and 46.6 million and 46.2 million for the three and six months ended June 30, 2022, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive. For information regarding our repurchases of AIG Common Stock, see Note 16.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	18. Income Taxes U.S. TAX LAW CHANGES The Inflation Reduction Act 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 Internal Revenue Service (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 months ended June 30, 2023, the effective tax rate on income from continuing operations was 9.4 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax benefits related to the potential resolution of an IRS audit matter, net of an increase in associated uncertain tax benefits, tax implications of the Corebridge secondary offering, and tax exempt income, partially offset by tax charges associated with the effect of foreign operations, tax implications related to the announced sale of Validus Re, U.S. federal and foreign 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 six months ended June 30, 2023, the effective tax rate on income from continuing operations was 2.0 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax benefits related to the potential resolution of an IRS audit matter, net of an increase in associated uncertain tax benefits, tax implications of the Corebridge secondary offering, tax exempt income, excess tax benefits related to share-based compensation payments recorded through the income statement and tax adjustments related to prior year returns. These tax benefits were partially offset by tax charges associated with the effect of foreign operations, tax implications related to the announced sale of Validus Re, U.S. federal and foreign 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 months ended June 30, 2022, the effective tax rate on income from continuing operations was 21.5 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax charges associated with the effect of foreign operations, state and local income taxes, and non-deductible transfer pricing charges. These tax charges were partially offset by tax benefits associated with tax exempt income and reclassifications from AOCI to income from continuing operations related to the disposal of available for sale securities. The effect of foreign operations is primarily related to income of our foreign operations taxed at statutory tax rates higher than 21 percent, other foreign taxes, and foreign income subject to U.S. taxation. For the six months ended June 30, 2022, the effective tax rate on income from continuing operations was 20.7 percent. The effective tax rate on income from continuing operations differs from the statutory tax rate of 21 percent primarily due to tax benefits associated with tax exempt income, reclassifications from AOCI to income from continuing operations related to the disposal of available for sale securities, excess tax benefits related to share-based compensation payments recorded through the income statement and tax adjustments related to prior year returns. These tax benefits were partially offset by tax charges associated with the effect of foreign operations, state and local income taxes, and non-deductible transfer pricing charges. The effect of foreign operations is primarily related to income of our foreign operations taxed at statutory tax rates higher than 21 percent, other foreign taxes, and foreign income subject to U.S. taxation. 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. After factoring in multiple data points and assessing relative weight of all positive and negative evidence, we concluded that a valuation allowance of $915 million is necessary. Accordingly, as of June 30, 2023, the balance sheet reflects a valuation allowance of $915 million, of which $713 million relates to AIG's U.S. federal consolidated income tax group and $202 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 six months ended June 30, 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 six months ended June 30, 2023, Corebridge recorded a $51 million increase in valuation allowance, attributable to current year activity. For the six months ended June 30, 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 June 30, 2023, based on all available evidence, we concluded that a valuation allowance of $2.1 billion is necessary on a portion of the deferred tax assets related to unrealized tax capital losses that are not more-likely-than-not to be realized. Of the total valuation allowance, $1.4 billion relates to the unrealized tax capital losses in the U.S. Life Insurance Companies' available for sale securities portfolio and $745 million relates to the unrealized tax capital losses in the non-life insurance companies' available for sale securities portfolio. For the six months ended June 30, 2023, we released $63 million of valuation allowance associated with the unrealized tax capital losses in the U.S. Life Insurance Companies’ available for sale securities portfolio and $160 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 June 30, 2023, we recorded an increase in valuation allowance of $69 million associated with the unrealized tax capital losses in the U.S. Life Insurance Companies’ available for sale securities portfolio and $74 million associated with the unrealized tax capital losses in the non-life insurance companies’ available for sale securities portfolio. The valuation allowance establishment was primarily allocated to other comprehensive income. For the six months ended June 30, 2023, we recognized a net $46 million increase in deferred tax asset valuation allowance associated with certain foreign jurisdictions. 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 June 30, 2023 and December 31, 2022, our unrecognized tax benefits, excluding interest and penalties, were $1.5 billion and $1.2 billion, respectively. At June 30, 2023 and December 31, 2022, the amounts of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate were $1.4 billion and $1.2 billion, respectively. 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 June 30, 2023 and December 31, 2022, we had accrued liabilities of $59 million and $63 million, respectively, for the payment of interest (net of the federal benefit) and penalties. For the six months ended June 30, 2023 and June 30, 2022, we accrued benefit of $4 million and $3 million, respectively, for the payment of interest and penalties. 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)	6 Months Ended
	Jun. 30, 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.
Insurance Revenues	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, effective 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, effective 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. Following the adoption of LDTI, after January 1, 2021 all reinsurance premiums ceded are recognized when due, following a ceded net premium ratio (NPR) 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 (URR). 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, effective 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 are amortized on a constant level basis over the estimated lives of the contracts, consistent with the
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 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 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 used to measure the liability for future policy benefits 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 Condensed Consolidated Financial Statements as of December 31, 2022 and for three and six months ended June 30, 2022 have been adjusted to reflect the effects of applying the standard. The accounting for the Fortitude Reinsurance Company Ltd. (Fortitude Re) reinsurance assets, 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 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 changes (non-performance adjustments), which are recognized in Other comprehensive income (loss) (OCI). 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 13. 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 of the standard, the impact of changes to discount rates are recognized through OCI. 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 12. 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 parenthetical presentation of any resulting re-measurement gain or loss in Policyholder benefits and losses incurred (except for discount rate changes as noted above) in the Condensed Consolidated Statements of Income (Loss). For additional information, see Note 12. • Simplifies the amortization of DAC to a constant level basis over the expected term of the related contracts and no longer requires an impairment test. For additional information, see Note 9. • 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 effective as of 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 8. (b) For additional information on the transition impacts associated with LDTI, see Note 9. (c) For additional information on the transition impacts associated with LDTI, see Note 13. (d) Other assets include deferred sales inducement assets. For additional information on the transition impacts associated with LDTI, see Note 9. (e) For additional information on the transition impacts associated with LDTI, see Note 12. (f) Other policyholder funds include URR. For additional information on the transition impacts associated with LDTI, see Note 12. (g) Other liabilities include deferred cost of reinsurance liabilities. For additional information on the transition impacts associated with LDTI, see Note 8. The following table presents the impacts in connection with the adoption of LDTI effective as of 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 our previously reported Condensed Consolidated Statements of Income (Loss): Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 As Effect of Updated As Effect of Updated (in millions, except per common share data) Revenues: Premiums $ 7,516 $ (4) $ 7,512 $ 14,626 $ 6 $ 14,632 Policy fees 742 (14) 728 1,506 (48) 1,458 Total net realized gains (losses) 3,392 (760) 2,632 7,811 (1,600) 6,211 Total revenues 14,441 (778) 13,663 30,249 (1,642) 28,607 Benefits, losses and expenses: Policyholder benefits and losses incurred 5,123 (139) 4,984 10,378 (334) 10,044 Change in the fair value of market risk benefits, net — (45) (45) — (278) (278) Interest credited to policyholder account balances 910 1 911 1,787 3 1,790 Amortization of deferred acquisition costs 1,298 (182) 1,116 2,735 (482) 2,253 General operating and other expenses 2,223 (17) 2,206 4,404 (34) 4,370 Total benefits, losses and expenses 10,120 (382) 9,738 20,093 (1,125) 18,968 Income (loss) from continuing operations before income tax expense (benefit) 4,321 (396) 3,925 10,156 (517) 9,639 Income tax expense (benefit) 928 (83) 845 2,107 (108) 1,999 Income (loss) from continuing operations 3,393 (313) 3,080 8,049 (409) 7,640 Net income (loss) 3,392 (313) 3,079 8,048 (409) 7,639 Net income (loss) from continuing operations attributable to noncontrolling interests 356 (31) 325 752 (40) 712 Net income (loss) attributable to AIG 3,036 (282) 2,754 7,296 (369) 6,927 Net income (loss) attributable to AIG common shareholders 3,028 (282) 2,746 7,281 (369) 6,912 Income (loss) per common share attributable to AIG common shareholders: Common stock - Basic 3.83 (0.36) 3.47 9.06 (0.46) 8.60 Common stock - Diluted 3.78 (0.35) 3.43 8.95 (0.45) 8.50 The following table presents the impacts in connection with the adoption of LDTI on our previously reported Condensed Consolidated Statements of Comprehensive Income (Loss): Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 As Effect of Updated As Effect of Updated (in millions) Net income $ 3,392 $ (313) $ 3,079 $ 8,048 $ (409) $ 7,639 Other comprehensive income (loss), net of tax Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken 40 (4) 36 (5) (4) (9) Change in unrealized appreciation (depreciation) of all other investments (12,538) (2,244) (14,782) (26,145) (4,778) (30,923) Change in fair value of market risk benefits attributable to changes in our own credit risk — 582 582 — 1,364 1,364 Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts — 1,870 1,870 — 4,160 4,160 Change in foreign currency translation adjustments (281) (54) (335) (286) (55) (341) Other comprehensive income (loss) (12,767) 150 (12,617) (26,415) 687 (25,728) Comprehensive income (loss) (9,375) (163) (9,538) (18,367) 278 (18,089) Comprehensive income (loss) attributable to noncontrolling interests (655) (18) (673) (1,320) 22 (1,298) Comprehensive income (loss) attributable to AIG (8,720) (145) (8,865) (17,047) 256 (16,791) The following table presents the impacts in connection with the adoption of LDTI on our previously reported Condensed Consolidated Statements of Cash Flows: Six Months Ended June 30, 2022 As Previously Effect of Updated Balances (in millions) Cash flows from operating activities: Net income $ 8,048 $ (409) $ 7,639 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 (3,238) 1,906 (1,332) Change in the fair value of market risk benefits in earnings, net — (541) (541) Depreciation and other amortization 2,698 (508) 2,190 Changes in operating assets and liabilities: Insurance reserves 1,402 (1,024) 378 Premiums and other receivables and payables - net (7,646) (20) (7,666) Reinsurance assets, net 20 811 831 Capitalization of deferred policy acquisition costs (2,543) (34) (2,577) Current and deferred income taxes - net 1,842 (109) 1,733 Other, net (783) (105) (888) Total adjustments (7,418) 376 (7,042) Net cash provided by operating activities 631 (33) 598 Cash flows from financing activities: Policyholder contract deposits 12,457 34 12,491 Net cash used in financing activities (2,793) 34 (2,759) 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 7. 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.
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. • Most changes in the fair value of free standing and embedded derivatives, including changes in the non-performance adjustment are included in Net realized gains (losses). However, changes in derivatives designated as hedging instruments when the fair value of the hedged item is not reported in Net realized gains (losses) are excluded from Net realized gains (losses). Additionally, in conjunction with the adoption of LDTI, changes in the fair value of free standing derivatives that hedge certain MRBs are excluded from 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.
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 (in millions) Total Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes (c) 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 (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. (c) 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 OCI). 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 June 30, 2023, approximately $27.5 billion of reserves from our Life and Retirement Run-Off Lines and approximately $3.1 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: June 30, 2023 December 31, 2022 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 17,595 $ 17,595 $ 18,821 $ 18,821 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 4,558 4,558 4,182 4,182 Fair value through net investment income Commercial mortgage loans 4,196 3,928 4,107 3,837 Amortized cost Real estate investments 126 302 133 348 Amortized cost Private equity funds / hedge funds 1,940 1,940 1,893 1,893 Fair value through net investment income Policy loans 341 341 355 355 Amortized cost Short-term investments 255 255 75 75 Fair value through net investment income Funds withheld investment assets 29,011 28,919 29,566 29,511 Derivative assets, net (b) 58 58 90 90 Fair value through net realized gains (losses) Other (c) 611 611 782 782 Amortized cost Total $ 29,680 $ 29,588 $ 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 $376 million ($297 million after-tax) and $(6.1) billion ($(4.8) billion after-tax), respectively for the six months ended June 30, 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 $191 million and $25 million, respectively, as of June 30, 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 OCI. 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 OCI. 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. For life insurance contracts, amortization is based on insurance in-force, while initial deposits are used for deferred annuity contracts, structured settlements and pension risk transfer products. 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. Value of Business Acquired (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 guaranteed minimum income benefits (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 annuity 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 except for the portion of the fair value change attributable to our own credit risk, is recognized in OCI. 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 OCI, 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 AOCI 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 AOCI 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 OCI. 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 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 yields. 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 OCI. 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. 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. 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. 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 guaranteed minimum death benefits (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 14. (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 5. 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 OCI. 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.
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 OCI. 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 * Other assets, excluding DSI, totaled $12.8 billion.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 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 effective as of 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 8. (b) For additional information on the transition impacts associated with LDTI, see Note 9. (c) For additional information on the transition impacts associated with LDTI, see Note 13. (d) Other assets include deferred sales inducement assets. For additional information on the transition impacts associated with LDTI, see Note 9. (e) For additional information on the transition impacts associated with LDTI, see Note 12. (f) Other policyholder funds include URR. For additional information on the transition impacts associated with LDTI, see Note 12. (g) Other liabilities include deferred cost of reinsurance liabilities. For additional information on the transition impacts associated with LDTI, see Note 8. The following table presents the impacts in connection with the adoption of LDTI effective as of 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 our previously reported Condensed Consolidated Statements of Income (Loss): Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 As Effect of Updated As Effect of Updated (in millions, except per common share data) Revenues: Premiums $ 7,516 $ (4) $ 7,512 $ 14,626 $ 6 $ 14,632 Policy fees 742 (14) 728 1,506 (48) 1,458 Total net realized gains (losses) 3,392 (760) 2,632 7,811 (1,600) 6,211 Total revenues 14,441 (778) 13,663 30,249 (1,642) 28,607 Benefits, losses and expenses: Policyholder benefits and losses incurred 5,123 (139) 4,984 10,378 (334) 10,044 Change in the fair value of market risk benefits, net — (45) (45) — (278) (278) Interest credited to policyholder account balances 910 1 911 1,787 3 1,790 Amortization of deferred acquisition costs 1,298 (182) 1,116 2,735 (482) 2,253 General operating and other expenses 2,223 (17) 2,206 4,404 (34) 4,370 Total benefits, losses and expenses 10,120 (382) 9,738 20,093 (1,125) 18,968 Income (loss) from continuing operations before income tax expense (benefit) 4,321 (396) 3,925 10,156 (517) 9,639 Income tax expense (benefit) 928 (83) 845 2,107 (108) 1,999 Income (loss) from continuing operations 3,393 (313) 3,080 8,049 (409) 7,640 Net income (loss) 3,392 (313) 3,079 8,048 (409) 7,639 Net income (loss) from continuing operations attributable to noncontrolling interests 356 (31) 325 752 (40) 712 Net income (loss) attributable to AIG 3,036 (282) 2,754 7,296 (369) 6,927 Net income (loss) attributable to AIG common shareholders 3,028 (282) 2,746 7,281 (369) 6,912 Income (loss) per common share attributable to AIG common shareholders: Common stock - Basic 3.83 (0.36) 3.47 9.06 (0.46) 8.60 Common stock - Diluted 3.78 (0.35) 3.43 8.95 (0.45) 8.50 The following table presents the impacts in connection with the adoption of LDTI on our previously reported Condensed Consolidated Statements of Comprehensive Income (Loss): Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 As Effect of Updated As Effect of Updated (in millions) Net income $ 3,392 $ (313) $ 3,079 $ 8,048 $ (409) $ 7,639 Other comprehensive income (loss), net of tax Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken 40 (4) 36 (5) (4) (9) Change in unrealized appreciation (depreciation) of all other investments (12,538) (2,244) (14,782) (26,145) (4,778) (30,923) Change in fair value of market risk benefits attributable to changes in our own credit risk — 582 582 — 1,364 1,364 Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts — 1,870 1,870 — 4,160 4,160 Change in foreign currency translation adjustments (281) (54) (335) (286) (55) (341) Other comprehensive income (loss) (12,767) 150 (12,617) (26,415) 687 (25,728) Comprehensive income (loss) (9,375) (163) (9,538) (18,367) 278 (18,089) Comprehensive income (loss) attributable to noncontrolling interests (655) (18) (673) (1,320) 22 (1,298) Comprehensive income (loss) attributable to AIG (8,720) (145) (8,865) (17,047) 256 (16,791) The following table presents the impacts in connection with the adoption of LDTI on our previously reported Condensed Consolidated Statements of Cash Flows: Six Months Ended June 30, 2022 As Previously Effect of Updated Balances (in millions) Cash flows from operating activities: Net income $ 8,048 $ (409) $ 7,639 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 (3,238) 1,906 (1,332) Change in the fair value of market risk benefits in earnings, net — (541) (541) Depreciation and other amortization 2,698 (508) 2,190 Changes in operating assets and liabilities: Insurance reserves 1,402 (1,024) 378 Premiums and other receivables and payables - net (7,646) (20) (7,666) Reinsurance assets, net 20 811 831 Capitalization of deferred policy acquisition costs (2,543) (34) (2,577) Current and deferred income taxes - net 1,842 (109) 1,733 Other, net (783) (105) (888) Total adjustments (7,418) 376 (7,042) Net cash provided by operating activities 631 (33) 598 Cash flows from financing activities: Policyholder contract deposits 12,457 34 12,491 Net cash used in financing activities (2,793) 34 (2,759)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2023 2022 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 3,195 $ 352 (a) $ 2,972 $ 406 (a) International 3,302 242 (a) 3,414 393 (a) Net investment income 725 725 458 458 Total General Insurance 7,222 1,319 6,844 1,257 Life and Retirement Individual Retirement 1,578 585 1,267 370 Group Retirement 690 201 672 180 Life Insurance 1,280 78 1,314 120 Institutional Markets 2,368 127 786 77 Total Life and Retirement 5,916 991 4,039 747 Other Operations Other Operations before consolidation and eliminations 111 (423) 207 (331) Consolidation and eliminations (14) 3 (136) (130) Total Other Operations 97 (420) 71 (461) Total 13,235 1,890 10,954 1,543 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 14 (3) 13 10 Change in the fair value of market risk benefits, net (b) — 262 — 45 Changes in benefit reserves related to net realized gains (losses) — (1) — 7 Changes in the fair value of equity securities 43 43 (30) (30) Other income (expense) - net (12) — (9) — Loss on extinguishment of debt — — — (299) Net investment income on Fortitude Re funds withheld assets 291 291 188 188 Net realized losses on Fortitude Re funds withheld assets (138) (138) (86) (86) Net realized gains on Fortitude Re funds withheld embedded derivative 180 180 2,776 2,776 Net realized losses (c) (395) (390) (147) (140) Net gain (loss) on divestitures and other — 43 — (1) Non-operating litigation reserves and settlements — (1) 4 4 Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 18 — 144 Net loss reserve discount charge — (16) — (14) Pension expense related to a one-time lump sum payment to former employees — (67) — — Integration and transaction costs associated with acquiring or divesting businesses — (79) — (38) Restructuring and other costs — (153) — (175) Non-recurring costs related to regulatory or accounting changes — (12) — (9) Revenues and pre-tax income $ 13,218 $ 1,867 $ 13,663 $ 3,925 Six Months Ended June 30, 2023 2022 (in millions) Adjusted Adjusted Adjusted Adjusted General Insurance North America $ 6,175 $ 651 (a) $ 5,761 $ 662 (a) International 6,581 445 (a) 6,881 583 (a) Net investment income 1,471 1,471 1,223 1,223 Total General Insurance 14,227 2,567 13,865 2,468 Life and Retirement Individual Retirement 3,062 1,118 2,614 836 Group Retirement 1,373 388 1,406 421 Life Insurance 2,529 160 2,625 233 Institutional Markets 4,323 211 1,335 191 Total Life and Retirement 11,287 1,877 7,980 1,681 Other Operations Other Operations before consolidation and eliminations 243 (857) 501 (619) AIG consolidation and eliminations (78) (54) (272) (263) Total Other Operations 165 (911) 229 (882) Total 25,679 3,533 22,074 3,267 Reconciling items: Changes in fair value of securities used to hedge guaranteed living benefits 27 (6) 27 23 Change in the fair value of market risk benefits, net (b) — 66 — 278 Changes in benefit reserves related to net realized gains (losses) — 5 — 9 Changes in the fair value of equity securities 94 94 (57) (57) Other income (expense) - net (19) — (16) — Loss on extinguishment of debt — — — (299) Net investment income on Fortitude Re funds withheld assets 737 737 479 479 Net realized gains (losses) on Fortitude Re funds withheld assets (169) (169) (226) (226) Net realized gains (losses) on Fortitude Re funds withheld embedded derivative (985) (985) 6,094 6,094 Net realized gains (losses) (c) (1,167) (1,156) 194 209 Net gain (loss) on divestitures and other — 41 — 39 Non-operating litigation reserves and settlements 1 — 38 38 Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements — 37 — 144 Net loss reserve discount benefit (charge) — (80) — 6 Pension expense related to a one-time lump sum payment to former employees — (67) — — Integration and transaction costs associated with acquiring or divesting businesses — (131) — (84) Restructuring and other costs — (270) — (268) Non-recurring costs related to regulatory or accounting changes — (25) — (13) Net impact from elimination of international reporting lag (d) 4 12 — — Revenues and pre-tax income (loss) $ 24,202 $ 1,636 $ 28,607 $ 9,639 (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.

Held-For-Sale Classification (T

Held-For-Sale Classification (Tables)	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table summarizes the components of assets and liabilities held-for-sale on the Condensed Consolidated Balance Sheets at June 30, 2023 after elimination of intercompany balances: (in millions) Validus Re CRS Total Assets: Bonds available for sale $ 4,568 $ — $ 4,568 Other invested assets 5 — 5 Short-term investments, including restricted cash of $46 389 29 418 Cash 191 — 191 Accrued investment income 26 — 26 Premiums and other receivables, net of allowance for credit losses and disputes 3,812 51 3,863 Reinsurance assets - other, net of allowance for credit losses and disputes 2,057 — 2,057 Deferred income taxes 75 — 75 Deferred policy acquisition costs 712 — 712 Other assets, net of allowance for credit losses (a) 591 189 780 Total assets held for sale $ 12,426 $ 269 $ 12,695 Liabilities: Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses $ 4,929 $ — $ 4,929 Unearned premiums 3,006 — 3,006 Other liabilities 1,220 173 1,393 Long-term debt 267 — 267 Total liabilities held for sale $ 9,422 $ 173 $ 9,595 (a) Other assets, net of allowance for credit losses includes goodwill and other intangibles of $318 million and $235 million, respectively, for Validus Re and $23 million and $20 million, respectively, for CRS.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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: June 30, 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 $ 82 $ 6,087 $ — $ — $ — $ 6,169 Obligations of states, municipalities and political subdivisions — 10,277 869 — — 11,146 Non-U.S. governments 204 12,298 6 — — 12,508 Corporate debt — 131,582 1,721 — — 133,303 RMBS — 11,277 7,617 — — 18,894 CMBS — 13,196 553 — — 13,749 CLO/ABS — 12,547 14,214 — — 26,761 Total bonds available for sale 286 197,264 24,980 — — 222,530 Other bond securities: U.S. government and government sponsored entities — — — — — — Obligations of states, municipalities and political subdivisions — 108 3 — — 111 Non-U.S. governments — 46 — — — 46 Corporate debt — 2,422 155 — — 2,577 RMBS — 194 164 — — 358 CMBS — 283 26 — — 309 CLO/ABS — 496 1,044 — — 1,540 Total other bond securities — 3,549 1,392 — — 4,941 Equity securities 465 123 72 — — 660 Other invested assets (b) — 153 2,140 — — 2,293 Derivative assets (c) : Interest rate contracts — 2,122 339 — — 2,461 Foreign exchange contracts — 1,426 1 — — 1,427 Equity contracts 11 603 666 — — 1,280 Commodity contracts — — — — — — Credit contracts — — 33 — — 33 Other contracts — — 15 — — 15 Counterparty netting and cash collateral — — — (2,826) (1,980) (4,806) Total derivative assets 11 4,151 1,054 (2,826) (1,980) 410 Short-term investments 1,881 2,397 — — — 4,278 Market risk benefit assets — — 954 — — 954 Other assets (c) — — 111 — — 111 Separate account assets 86,579 3,139 — — — 89,718 Total (d) $ 89,222 $ 210,776 $ 29,749 $ (2,826) $ (1,980) $ 324,941 Liabilities: Policyholder contract deposits $ — $ 51 $ 6,813 $ — $ — $ 6,864 Market risk benefit liabilities — — 4,977 — — 4,977 Derivative liabilities (c) : Interest rate contracts — 3,108 — — — 3,108 Foreign exchange contracts — 796 3 — — 799 Equity contracts 23 303 21 — — 347 Credit contracts — 6 33 — — 39 Counterparty netting and cash collateral — — — (2,826) (1,182) (4,008) Total derivative liabilities 23 4,213 57 (2,826) (1,182) 285 Fortitude Re funds withheld payable — — (2,118) — — (2,118) Other liabilities — — 98 — — 98 Long-term debt — 50 — — — 50 Total $ 23 $ 4,314 $ 9,827 $ (2,826) $ (1,182) $ 10,156 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 $9.8 billion and $9.8 billion as of June 30, 2023 and December 31, 2022, respectively. (c) Presented as part of Other assets and Other liabilities on the Condensed Consolidated Balance Sheets. (d) Excludes $5.0 billion of assets reclassified to Assets held for sale on the Condensed Consolidated Balance Sheets. (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Six Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 824 $ 1 $ 52 $ (8) $ — $ — $ — $ 869 $ — $ 28 Non-U.S. governments 1 1 1 (2) 7 (2) — 6 — 1 Corporate debt 2,847 (96) 59 (374) 320 (1,019) (16) 1,721 — 59 RMBS 7,553 214 119 (201) 31 (64) (35) 7,617 — 89 CMBS 926 (22) (42) (39) 33 (303) — 553 — (83) CLO/ABS 12,748 61 177 1,230 113 (200) 85 14,214 — 97 Total bonds available for sale 24,899 159 366 606 504 (1,588) 34 24,980 — 191 Other bond securities: Obligations of states, municipalities and political subdivisions — — — 3 — — — 3 — — Corporate debt 416 2 — (72) — (191) — 155 2 — RMBS 173 7 — (16) — — — 164 (5) — CMBS 28 (2) — — — — — 26 (2) — CLO/ABS 910 28 — 94 4 (45) 53 1,044 (19) — Total other bond securities 1,527 35 — 9 4 (236) 53 1,392 (24) — Equity securities 39 2 — 29 10 (8) — 72 2 — Other invested assets 2,075 (71) 7 129 — — — 2,140 (73) — Other assets 107 — — 4 — — — 111 — — Total (a) $ 28,647 $ 125 $ 373 $ 777 $ 518 $ (1,832) $ 87 $ 28,695 $ (95) $ 191 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,367 $ 810 $ — $ 636 $ — $ — $ — $ 6,813 $ (676) $ — Derivative liabilities, net: Interest rate contracts (311) 84 — (112) — — — (339) — (29) Foreign exchange contracts — 2 — — — — — 2 — (2) Equity contracts (271) (49) — (325) — — — (645) 131 66 Credit contracts — (1) — 1 — — — — — 1 Other contracts (14) (33) — 32 — — — (15) 31 1 Total derivative liabilities, net (b) (596) 3 — (404) — — — (997) 162 37 Fortitude Re funds withheld payable (2,235) 985 — (868) — — — (2,118) (468) — Other Liabilities 112 (14) — — — — — 98 — — Total (c) $ 2,648 $ 1,784 $ — $ (636) $ — $ — $ — $ 3,796 $ (982) $ 37 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,431 $ 2 $ (428) $ (65) $ 17 $ — $ — $ 957 $ — $ (410) Non-U.S. governments 7 — — — 2 — — 9 — — Corporate debt 2,641 (26) (151) (37) 382 (326) — 2,483 — (137) RMBS 10,378 222 (943) (874) — (431) — 8,352 — (925) CMBS 1,190 13 (113) 117 — (336) — 871 — (108) CLO/ABS 11,215 19 (1,003) 1,651 1,464 (1,650) — 11,696 — (1,003) Total bonds available for sale 26,862 230 (2,638) 792 1,865 (2,743) — 24,368 — (2,583) Other bond securities: Corporate debt 134 (4) — 124 222 (15) — 461 (4) — RMBS 196 (18) — 14 — — — 192 (21) — CMBS 35 (3) — — — — — 32 (3) — CLO/ABS 2,332 (249) — 352 63 (56) — 2,442 (162) — Total other bond securities 2,697 (274) — 490 285 (71) — 3,127 (190) — Equity securities 6 — — 6 — — — 12 — — Other invested assets 1,948 245 (27) (38) 47 (167) — 2,008 295 — Other assets 114 — — (7) — — — 107 — — Total (a) $ 31,627 $ 201 $ (2,665) $ 1,243 $ 2,197 $ (2,981) $ — $ 29,622 $ 105 $ (2,583) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,572 $ (1,203) $ — $ 359 $ — $ — $ — $ 4,728 $ 1,437 $ — Derivative liabilities, net: Interest rate contracts — 11 — (73) (81) — — (143) (10) — Foreign exchange contracts (1) 1 — 1 — — — 1 (1) — Equity contracts (444) 390 — (94) — (1) — (149) (247) — Credit contracts 30 2 — — — — — 32 (1) — Other contracts (13) (32) — 29 — — — (16) 32 — Total derivative liabilities, net (b) (428) 372 — (137) (81) (1) — (275) (227) — Fortitude Re funds withheld payable 5,922 (6,094) — (466) — — — (638) 6,316 — Total (c) $ 11,066 $ (6,925) $ — $ (244) $ (81) $ (1) $ — $ 3,815 $ 7,526 $ — (a) Excludes MRB assets of $954 million at June 30, 2023 and $642 million at June 30, 2022, For additional information, see Note 13. (b) Total Level 3 derivative exposures have been netted in these tables for presentation purposes only. (c) Excludes MRB liabilities of $5.0 billion at June 30, 2023 and $5.3 billion at June 30, 2022. For additional information, see Note 13.
Schedule of Assets Measured on a Recurring Basis	(in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 873 $ — $ (3) $ (1) $ — $ — $ — $ 869 $ — $ (13) Non-U.S. governments 9 — 1 (2) — (2) — 6 — 1 Corporate debt 2,432 6 8 (173) 46 (598) — 1,721 — 5 RMBS 7,581 105 189 (211) 31 (43) (35) 7,617 — 187 CMBS 938 (29) (39) (40) (1) (276) — 553 — (49) CLO/ABS 13,889 11 (94) 390 55 (98) 61 14,214 — (126) Total bonds available for sale 25,722 93 62 (37) 131 (1,017) 26 24,980 — 5 Other bond securities: Obligations of states, municipalities and political subdivisions 1 — — 2 — — — 3 — — Corporate Debt 130 1 — 24 — — — 155 3 — RMBS 166 2 — (4) — — — 164 (3) — CMBS 27 (1) — — — — — 26 (1) — CLO/ABS 1,010 (8) — 76 3 (38) 1 1,044 (38) — Total other bond securities 1,334 (6) — 98 3 (38) 1 1,392 (39) — Equity securities 74 2 — 2 2 (8) — 72 2 — Other invested assets 2,086 (19) 2 71 — — — 2,140 — — Other assets 110 — — 1 — — — 111 — — Total (a) $ 29,326 $ 70 $ 64 $ 135 $ 136 $ (1,063) $ 27 $ 28,695 $ (37) $ 5 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 6,064 $ 429 $ — $ 320 $ — $ — $ — $ 6,813 $ (308) $ — Derivative liabilities, net: Interest rate contracts (356) 27 — (10) — — — (339) — (21) Foreign exchange contracts — 2 — — — — — 2 — (2) Equity contracts (502) 7 — (150) — — — (645) (1) 6 Credit contracts — (1) — 1 — — — — — 1 Other contracts (14) (17) — 16 — — — (15) 15 1 Total derivative liabilities, net (b) (872) 18 — (143) — — — (997) 14 (15) Fortitude Re funds withheld payable (1,863) (180) — (75) — — — (2,118) 291 — Other Liabilities 112 (14) — — — — — 98 — — Total (c) $ 3,441 $ 253 $ — $ 102 $ — $ — $ — $ 3,796 $ (3) $ (15) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,087 $ — $ (143) $ (4) $ 17 $ — $ — $ 957 $ — $ (151) Non-U.S. governments 8 — — — 1 — — 9 — — Corporate debt 2,744 (15) (78) (214) 252 (206) — 2,483 — (49) RMBS 8,925 92 (390) (266) — (9) — 8,352 — (390) CMBS 864 5 (46) 85 — (37) — 871 — (47) CLO/ABS 11,776 3 (502) 1,106 349 (1,036) — 11,696 — (513) Total bonds available for sale 25,404 85 (1,159) 707 619 (1,288) — 24,368 — (1,150) Other bond securities: Corporate debt 260 (4) — 47 161 (3) — 461 (4) — RMBS 199 (13) 1 5 — — — 192 (13) — CMBS 33 (1) — — — — — 32 (1) — CLO/ABS 2,468 (135) — 157 6 (54) — 2,442 — — Total other bond securities 2,960 (153) 1 209 167 (57) — 3,127 (18) — Equity securities 6 — 1 5 — — — 12 — — Other invested assets 1,935 133 (23) (23) — (14) — 2,008 174 — Other assets 108 — — (1) — — — 107 — — Total (a) $ 30,413 $ 65 $ (1,180) $ 897 $ 786 $ (1,359) $ — $ 29,622 $ 156 $ (1,150) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,035 $ (545) $ — $ 238 $ — $ — $ — $ 4,728 $ 592 $ — Derivative liabilities, net: Interest rate contracts (4) 12 — (70) (81) — — (143) (10) — Foreign exchange contracts — 1 — — — — — 1 (1) — Equity contracts (178) 89 — (59) — (1) — (149) (95) — Credit contracts 31 1 — — — — — 32 (1) — Other contracts (14) (14) — 12 — — — (16) 15 — Total derivative liabilities, net (b) (165) 89 — (117) (81) (1) — (275) (92) — Fortitude Re funds withheld payable 2,206 (2,776) — (68) — — — (638) 2,836 — Total (c) $ 7,076 $ (3,232) $ — $ 53 $ (81) $ (1) $ — $ 3,815 $ 3,336 $ — (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Three Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ — $ (1) $ (1) Corporate debt 1 — (174) (173) RMBS 111 (42) (280) (211) CMBS — (26) (14) (40) CLO/ABS 495 (148) 43 390 Total bonds available for sale 607 (216) (428) (37) Other bond securities: Obligations of states, municipalities and political subdivisions 2 — — 2 Corporate debt 87 — (63) 24 RMBS 1 — (5) (4) CLO/ABS 81 4 (9) 76 Total other bond securities 171 4 (77) 98 Equity securities 2 — — 2 Other invested assets 80 — (9) 71 Other assets — — 1 1 Total $ 860 $ (212) $ (513) $ 135 Liabilities: Policyholder contract deposits $ — $ 402 $ (82) $ 320 Derivative liabilities, net (190) 4 43 (143) Fortitude Re funds withheld payable — — (75) (75) Total $ (190) $ 406 $ (114) $ 102 Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ — $ (4) $ — $ (4) Corporate debt 14 — (228) (214) RMBS 176 — (442) (266) CMBS 76 — 9 85 CLO/ABS 1,245 — (139) 1,106 Total bonds available for sale 1,511 (4) (800) 707 Other bond securities: Corporate debt 5 — 42 47 RMBS 14 — (9) 5 CLO/ABS 293 — (136) 157 Total other bond securities 312 — (103) 209 Equity securities 5 — — 5 Other invested assets 259 — (282) (23) Other assets — — (1) (1) Total $ 2,087 $ (4) $ (1,186) $ 897 Liabilities: Policyholder contract deposits $ — $ 222 $ 16 $ 238 Derivative liabilities, net (164) 1 46 (117) Fortitude Re funds withheld payable — — (68) (68) Total $ (164) $ 223 $ (6) $ 53 (in millions) Purchases Sales Issuances and Settlements (a) Purchases, Sales, Issuances and Settlements, Net (a) Six Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (4) $ (5) $ (8) Corporate debt 22 — (396) (374) RMBS 401 (61) (541) (201) CMBS 10 (32) (17) (39) CLO/ABS 1,392 (151) (11) 1,230 Total bonds available for sale 1,826 (248) (972) 606 Other bond securities: Obligations of states, municipalities and political subdivisions 3 — — 3 Corporate debt 87 — (159) (72) RMBS 6 — (22) (16) CLO/ABS 127 — (33) 94 Total other bond securities 223 — (214) 9 Equity securities 31 — (2) 29 Other invested assets 152 — (23) 129 Other assets — — 4 4 Total $ 2,232 $ (248) $ (1,207) $ 777 Liabilities: Policyholder contract deposits $ — $ 728 $ (92) $ 636 Derivative liabilities, net (450) 9 37 (404) Fortitude Re funds withheld payable — — (868) (868) Total $ (450) $ 737 $ (923) $ (636) Six Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1 $ (64) $ (2) $ (65) Corporate Debt 23 — (60) (37) RMBS 285 — (1,159) (874) CMBS 146 — (29) 117 CLO/ABS 2,131 — (480) 1,651 Total bonds available for sale 2,586 (64) (1,730) 792 Other bond securities: Corporate debt 24 — 100 124 RMBS 31 — (17) 14 CLO/ABS 616 — (264) 352 Total other bond securities 671 — (181) 490 Equity securities 5 — 1 6 Other invested assets 517 — (555) (38) Other assets — — (7) (7) Total $ 3,779 $ (64) $ (2,472) $ 1,243 Liabilities: Policyholder contract deposits $ — $ 417 $ (58) $ 359 Derivative liabilities, net (249) 3 109 (137) Fortitude Re funds withheld payable — — (466) (466) Total $ (249) $ 420 $ (415) $ (244)
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 (c) Other Total Three Months Ended June 30, 2023 Assets: Bonds available for sale $ 121 $ (28) $ — $ — $ 93 Other bond securities (6) — — — (6) Equity securities 2 — — — 2 Other invested assets (20) 1 — — (19) Three Months Ended June 30, 2022 Assets: Bonds available for sale $ 142 $ (57) $ — $ — $ 85 Other bond securities (153) — — — (153) Other invested assets 133 — — — 133 Six Months Ended June 30, 2023 Assets: Bonds available for sale $ 183 $ (24) $ — $ — $ 159 Other bond securities 35 — — — 35 Other invested assets (71) — — — (71) Six Months Ended June 30, 2022 Assets: Bonds available for sale $ 306 $ (76) $ — $ — $ 230 Other bond securities (274) — — — (274) Other invested assets 245 — — — 245 (in millions) Net Net Realized Change in the fair value of market risk benefits, net (c) Other Total Three Months Ended June 30, 2023 Liabilities: Policyholder contract deposits (a) $ — $ 429 $ — $ — $ 429 Market risk benefit liabilities, net (b) — (3) (884) — (887) Derivative liabilities, net — 65 (31) (16) 18 Fortitude Re funds withheld payable — (180) — — (180) Three Months Ended June 30, 2022 Liabilities: Policyholder contract deposits (a) $ — $ (545) $ — $ — $ (545) Market risk benefit liabilities, net (b) — (5) (258) — (263) Derivative liabilities, net — 120 (18) (13) 89 Fortitude Re funds withheld payable — (2,776) — — (2,776) Six Months Ended June 30, 2023 Liabilities: Policyholder contract deposits (a) $ — $ 810 $ — $ — $ 810 Market risk benefit liabilities, net (b) — (3) (797) — (800) Derivative liabilities, net — (23) 58 (32) 3 Fortitude Re funds withheld payable — 985 — — 985 Six Months Ended June 30, 2022 Liabilities: Policyholder contract deposits (a) $ — $ (1,203) $ — $ — $ (1,203) Market risk benefit liabilities, net (b) — (8) (957) — (965) Derivative liabilities, net — 447 (47) (28) 372 Fortitude Re funds withheld payable — (6,094) — — (6,094) (a) Primarily embedded derivatives. (b) 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	(in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended June 30, 2023 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 873 $ — $ (3) $ (1) $ — $ — $ — $ 869 $ — $ (13) Non-U.S. governments 9 — 1 (2) — (2) — 6 — 1 Corporate debt 2,432 6 8 (173) 46 (598) — 1,721 — 5 RMBS 7,581 105 189 (211) 31 (43) (35) 7,617 — 187 CMBS 938 (29) (39) (40) (1) (276) — 553 — (49) CLO/ABS 13,889 11 (94) 390 55 (98) 61 14,214 — (126) Total bonds available for sale 25,722 93 62 (37) 131 (1,017) 26 24,980 — 5 Other bond securities: Obligations of states, municipalities and political subdivisions 1 — — 2 — — — 3 — — Corporate Debt 130 1 — 24 — — — 155 3 — RMBS 166 2 — (4) — — — 164 (3) — CMBS 27 (1) — — — — — 26 (1) — CLO/ABS 1,010 (8) — 76 3 (38) 1 1,044 (38) — Total other bond securities 1,334 (6) — 98 3 (38) 1 1,392 (39) — Equity securities 74 2 — 2 2 (8) — 72 2 — Other invested assets 2,086 (19) 2 71 — — — 2,140 — — Other assets 110 — — 1 — — — 111 — — Total (a) $ 29,326 $ 70 $ 64 $ 135 $ 136 $ (1,063) $ 27 $ 28,695 $ (37) $ 5 (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 6,064 $ 429 $ — $ 320 $ — $ — $ — $ 6,813 $ (308) $ — Derivative liabilities, net: Interest rate contracts (356) 27 — (10) — — — (339) — (21) Foreign exchange contracts — 2 — — — — — 2 — (2) Equity contracts (502) 7 — (150) — — — (645) (1) 6 Credit contracts — (1) — 1 — — — — — 1 Other contracts (14) (17) — 16 — — — (15) 15 1 Total derivative liabilities, net (b) (872) 18 — (143) — — — (997) 14 (15) Fortitude Re funds withheld payable (1,863) (180) — (75) — — — (2,118) 291 — Other Liabilities 112 (14) — — — — — 98 — — Total (c) $ 3,441 $ 253 $ — $ 102 $ — $ — $ — $ 3,796 $ (3) $ (15) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Three Months Ended June 30, 2022 Assets: Bonds available for sale: Obligations of states, municipalities and political subdivisions $ 1,087 $ — $ (143) $ (4) $ 17 $ — $ — $ 957 $ — $ (151) Non-U.S. governments 8 — — — 1 — — 9 — — Corporate debt 2,744 (15) (78) (214) 252 (206) — 2,483 — (49) RMBS 8,925 92 (390) (266) — (9) — 8,352 — (390) CMBS 864 5 (46) 85 — (37) — 871 — (47) CLO/ABS 11,776 3 (502) 1,106 349 (1,036) — 11,696 — (513) Total bonds available for sale 25,404 85 (1,159) 707 619 (1,288) — 24,368 — (1,150) Other bond securities: Corporate debt 260 (4) — 47 161 (3) — 461 (4) — RMBS 199 (13) 1 5 — — — 192 (13) — CMBS 33 (1) — — — — — 32 (1) — CLO/ABS 2,468 (135) — 157 6 (54) — 2,442 — — Total other bond securities 2,960 (153) 1 209 167 (57) — 3,127 (18) — Equity securities 6 — 1 5 — — — 12 — — Other invested assets 1,935 133 (23) (23) — (14) — 2,008 174 — Other assets 108 — — (1) — — — 107 — — Total (a) $ 30,413 $ 65 $ (1,180) $ 897 $ 786 $ (1,359) $ — $ 29,622 $ 156 $ (1,150) (in millions) Fair Value MRBs and Other Purchases, Gross Gross Other Fair Changes in Changes in Liabilities: Policyholder contract deposits $ 5,035 $ (545) $ — $ 238 $ — $ — $ — $ 4,728 $ 592 $ — Derivative liabilities, net: Interest rate contracts (4) 12 — (70) (81) — — (143) (10) — Foreign exchange contracts — 1 — — — — — 1 (1) — Equity contracts (178) 89 — (59) — (1) — (149) (95) — Credit contracts 31 1 — — — — — 32 (1) — Other contracts (14) (14) — 12 — — — (16) 15 — Total derivative liabilities, net (b) (165) 89 — (117) (81) (1) — (275) (92) — Fortitude Re funds withheld payable 2,206 (2,776) — (68) — — — (638) 2,836 — Total (c) $ 7,076 $ (3,232) $ — $ 53 $ (81) $ (1) $ — $ 3,815 $ 3,336 $ —
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 $ 846 Discounted cash flow Yield 5.02% - 5.46% (5.24%) Corporate debt 1,570 Discounted cash flow Yield 5.57% - 8.14% (6.85%) RMBS (a) 5,107 Discounted cash flow Constant prepayment rate 4.76% - 10.21% (7.48%) Loss severity 44.40% - 77.42% (60.91%) Constant default rate 0.84% - 2.71% (1.77%) Yield 4.37% - 8.40% (6.26%) CLO/ABS (a) 11,234 Discounted cash flow Yield 6.05% - 7.81% (6.93%) CMBS 533 Discounted cash flow Yield 4.86% - 32.35% (14.68%) Market risk benefit assets 954 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 (g) 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.23% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) Liabilities (d) : Market risk benefit liabilities: Variable annuities guaranteed benefits 2,044 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 (g) 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.23% Fixed annuities guaranteed benefits 886 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% - 2.23% Fixed index annuities guaranteed benefits 2,047 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% - 6.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.23% Embedded derivatives within Policyholder contract deposits: Index credits on fixed index annuities (h) 5,973 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% - 6.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.34% - 2.23% Index life 840 Discounted cash flow Base lapse rate 0.00% - 37.97% Mortality rate 0.00% - 100.00% Equity volatility 5.75% - 20.82% NPA (f) 0.34% - 2.23% (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 (g) 80.00% - 100.00% Equity / interest rate correlation 0.00% - 30.00% NPA (f) 0.00% - 2.03% (in millions) Fair Value at Valuation Unobservable Input (b) Range (Weighted Average) (c) 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 (g) 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% 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 (h) 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 8, 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 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 June 30, 2023 and December 31, 2022 was approximately $1.5 billion and $1.1 billion, respectively.
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share	The following table includes information related to our investments in certain other invested assets, including private equity funds, hedge funds and other alternative investments that calculate net asset value per share (or its equivalent). For these investments, which are measured at fair value on a recurring basis, we use the net asset value per share to measure fair value. June 30, 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 $ 3,423 $ 2,185 $ 3,146 $ 2,448 Real assets Investments in real estate properties, agricultural and infrastructure assets, including power plants and other energy producing assets 1,855 844 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 269 161 272 183 Growth equity Funds that make investments in established companies for the purpose of growing their businesses 703 45 732 60 Mezzanine Funds that make investments in the junior debt and equity securities of leveraged companies 579 149 598 142 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 1,954 272 1,829 391 Total private equity funds 8,783 3,656 8,428 4,064 Hedge funds: Event-driven Securities of companies undergoing material structural changes, including mergers, acquisitions and other reorganizations 19 — 92 — Long-short Securities that the manager believes are undervalued, with corresponding short positions to hedge market risk 670 — 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 191 — 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 149 — 192 — Total hedge funds 1,029 — 1,394 — Total $ 9,812 $ 3,656 $ 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: Gain (Loss) Three Months Gain (Loss) Six Months (in millions) 2023 2022 2023 2022 Assets: Other bond securities (a) $ (1) $ (355) $ 135 $ (674) Alternative investments (b) 134 (167) 211 231 Liabilities: Long-term debt (c) 3 68 2 171 Total gain (loss) $ 136 $ (454) $ 348 $ (272) (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 6. For additional information regarding the funds withheld arrangements with Fortitude Re, see Note 8. (b) Includes certain hedge funds, private equity funds and other investment partnerships. (c) Includes guaranteed investment agreements (GIAs), notes, bonds and mortgages payable. The following table presents the difference between fair value and the aggregate contractual principal amount of long-term debt for which the fair value option was elected: June 30, 2023 December 31, 2022 (in millions) Fair Value Outstanding Principal Amount Difference Fair Value Outstanding Principal Amount Difference Liabilities: Long-term debt* $ 50 $ 41 $ 9 $ 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 Six Months Ended (in millions) Level 1 Level 2 Level 3 Total 2023 2022 2023 2022 June 30, 2023 Other assets $ — $ — $ 12 $ 12 8 — $ 17 $ — Total $ — $ — $ 12 $ 12 $ 8 $ — $ 17 $ — 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 June 30, 2023 Assets: Mortgage and other loans receivable $ — $ 273 $ 47,727 $ 48,000 $ 51,569 Other invested assets — 853 6 859 858 Short-term investments — 6,677 — 6,677 6,677 Cash 2,283 — — 2,283 2,283 Other assets 35 2 — 37 37 Liabilities: Policyholder contract deposits associated with investment-type contracts — 106 136,027 136,133 139,239 Fortitude Re funds withheld payable — — 31,706 31,706 31,706 Other liabilities — 532 — 532 532 Short-term and long-term debt* — 19,395 261 19,656 21,302 Debt of consolidated investment entities — 89 2,676 2,765 2,793 Separate account liabilities - investment contracts — 85,761 — 85,761 85,761 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 * Excludes $267 million reclassified to Liabilities held for sale on the Condensed Consolidated Balance Sheets.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2023 Bonds available for sale: U.S. government and government sponsored entities $ 6,485 $ — $ 17 $ (333) $ 6,169 Obligations of states, municipalities and political subdivisions 11,982 — 107 (943) 11,146 Non-U.S. governments 14,087 (11) 97 (1,665) 12,508 Corporate debt 153,633 (67) 1,122 (21,385) 133,303 Mortgage-backed, asset-backed and collateralized: RMBS 19,353 (26) 856 (1,289) 18,894 CMBS 15,258 (19) 13 (1,503) 13,749 CLO/ABS 28,437 (2) 99 (1,773) 26,761 Total mortgage-backed, asset-backed and collateralized 63,048 (47) 968 (4,565) 59,404 Total bonds available for sale (b) $ 249,235 $ (125) $ 2,311 $ (28,891) $ 222,530 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 OCI. (b) At June 30, 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 $17.8 billion or 8 percent and $22.3 billion or 10 percent, respectively.
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value	The following table summarizes the fair value and gross unrealized losses on our available for sale securities, aggregated by major investment category and length of time that individual securities have been in a continuous unrealized loss position for which no allowance for credit loss has been recorded: Less than 12 Months 12 Months or More Total (in millions) Fair Gross Fair Gross Fair Gross June 30, 2023 Bonds available for sale: U.S. government and government sponsored entities $ 5,299 $ 314 $ 213 $ 19 $ 5,512 $ 333 Obligations of states, municipalities and political subdivisions 7,172 861 769 82 7,941 943 Non-U.S. governments 10,200 1,647 438 18 10,638 1,665 Corporate debt 88,949 15,831 28,260 5,538 117,209 21,369 RMBS 8,305 687 3,775 560 12,080 1,247 CMBS 8,162 851 4,569 650 12,731 1,501 CLO/ABS 11,969 698 10,096 1,075 22,065 1,773 Total bonds available for sale $ 140,056 $ 20,889 $ 48,120 $ 7,942 $ 188,176 $ 28,831 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 June 30, 2023 Due in one year or less $ 9,123 $ 9,000 Due after one year through five years 45,775 43,487 Due after five years through ten years 41,559 37,535 Due after ten years 89,652 73,104 Mortgage-backed, asset-backed and collateralized 63,001 59,404 Total $ 249,110 $ 222,530
Realized Gain (Loss) on Investments	The following table presents the gross realized gains and gross realized losses from sales or maturities of our available for sale securities: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in millions) Gross Gross Gross Gross Gross Gross Gross Gross Fixed maturity securities $ 83 $ 424 $ 186 $ 790 $ 229 $ 1,022 $ 283 $ 1,026 The following table presents the components of Net realized gains (losses): Three Months Ended June 30, 2023 2022 (in millions) Excluding Fortitude Re Total Excluding Fortitude Re Total Sales of fixed maturity securities $ (287) $ (54) $ (341) $ (482) $ (122) $ (604) Change in allowance for credit losses on fixed maturity securities (56) (2) (58) (47) (1) (48) Change in allowance for credit losses on loans (46) (5) (51) 24 6 30 Foreign exchange transactions 211 11 222 (229) (15) (244) Index-linked interest credited embedded derivatives, net of related hedges (141) — (141) (20) — (20) All other derivatives and hedge accounting* 26 (87) (61) 682 48 730 Sales of alternative investments and real estate investments 4 (1) 3 7 2 9 Other (50) — (50) 7 (4) 3 Net realized losses – excluding Fortitude Re funds withheld embedded derivative (339) (138) (477) (58) (86) (144) Net realized gains on Fortitude Re funds withheld embedded derivative — 180 180 — 2,776 2,776 Net realized gains (losses) $ (339) $ 42 $ (297) $ (58) $ 2,690 $ 2,632 Six Months Ended June 30, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Sales of fixed maturity securities $ (674) $ (119) $ (793) $ (589) $ (154) $ (743) Change in allowance for credit losses on fixed maturity securities (72) (2) (74) (100) (41) (141) Change in allowance for credit losses on loans (88) (26) (114) 5 (2) 3 Foreign exchange transactions 325 27 352 (242) (24) (266) Index-linked interest credited embedded derivatives, net of related hedges (319) — (319) 183 — 183 All other derivatives and hedge accounting* (191) (49) (240) 1,082 (8) 1,074 Sales of alternative investments and real estate investments 8 — 8 23 3 26 Other (41) — (41) (19) — (19) Net realized gains (losses) – excluding Fortitude Re funds withheld embedded derivative (1,052) (169) (1,221) 343 (226) 117 Net realized gains (losses) on Fortitude Re funds withheld embedded derivative — (985) (985) — 6,094 6,094 Net realized gains (losses) $ (1,052) $ (1,154) $ (2,206) $ 343 $ 5,868 $ 6,211 * Derivative activity related to hedging MRBs is recorded in Change in the fair value of MRBs, net. For additional disclosures about MRBs, see Note 13.
Debt Securities, Trading, and Equity Securities, FV-NI	The following table presents the fair value of fixed maturity securities measured at fair value based on our election of the fair value option, which are reported in the other bond securities caption in the financial statements, and equity securities measured at fair value: (in millions) June 30, 2023 December 31, 2022 Fair Percent Fair Percent Fixed maturity securities: U.S. government and government sponsored entities $ — — % $ — — % Obligations of states, municipalities and political subdivisions 111 2 111 2 Non-U.S. governments 46 1 66 1 Corporate debt 2,577 46 2,392 47 Mortgage-backed, asset-backed and collateralized: RMBS 358 6 286 6 CMBS 309 6 331 7 CLO/ABS and other collateralized 1,540 27 1,299 26 Total mortgage-backed, asset-backed and collateralized 2,207 39 1,916 39 Total fixed maturity securities 4,941 88 4,485 89 Equity securities 660 12 575 11 Total $ 5,601 100 % $ 5,060 100 %
Schedule of Other Invested Assets	The following table summarizes the carrying amounts of other invested assets: (in millions) June 30, 2023 December 31, 2022 Alternative investments (a)(b) $ 11,792 $ 11,809 Investment real estate (c) 2,218 2,153 All other investments (d) 2,057 1,991 Total $ 16,067 $ 15,953 (a) At June 30, 2023, included hedge funds of $1.0 billion and private equity funds of $10.8 billion. At December 31, 2022, included hedge funds of $1.4 billion and private equity funds of $10.4 billion. (b) At June 30, 2023, approximately 51 percent of our hedge fund portfolio is available for redemption in 2023. The remaining 49 percent will be available for redemption between 2024 and 2028. (c) Represents values net of accumulated depreciation. At June 30, 2023 and December 31, 2022, the accumulated depreciation was $806 million and $786 million, respectively.
Investment Income	NET INVESTMENT INCOME The following table presents the components of Net investment income: Three Months Ended June 30, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 2,629 $ 232 $ 2,861 $ 2,147 $ 267 $ 2,414 Other fixed maturity securities (a) 8 (7) 1 (175) (180) (355) Equity securities 43 — 43 (30) — (30) Interest on mortgage and other loans 625 58 683 460 51 511 Alternative investments (b) 147 13 160 109 56 165 Real estate 17 — 17 32 — 32 Other investments (c) 8 1 9 37 3 40 Total investment income 3,477 297 3,774 2,580 197 2,777 Investment expenses 197 6 203 164 9 173 Net investment income $ 3,280 $ 291 $ 3,571 $ 2,416 $ 188 $ 2,604 Six Months Ended June 30, 2023 2022 (in millions) Excluding Fortitude Fortitude Re Total Excluding Fortitude Fortitude Re Total Available for sale fixed maturity securities, including short-term investments $ 5,175 $ 475 $ 5,650 $ 4,188 $ 568 $ 4,756 Other fixed maturity securities (a) 20 116 136 (376) (298) (674) Equity securities 94 — 94 (57) — (57) Interest on mortgage and other loans 1,192 117 1,309 913 97 1,010 Alternative investments (b) 223 44 267 778 127 905 Real estate 20 — 20 32 — 32 Other investments (c) 36 — 36 194 3 197 Total investment income 6,760 752 7,512 5,672 497 6,169 Investment expenses 393 15 408 310 18 328 Net investment income $ 6,367 $ 737 $ 7,104 $ 5,362 $ 479 $ 5,841 (a) Included in the three and six months ended June 30, 2022 were income (loss) of $(55) million and $(151) million, respectively, related to fixed maturity securities measured at fair value that economically hedge liabilities described in (c) below. (b) Included income from hedge funds, private equity funds and affordable housing partnerships. Hedge funds are recorded as of the balance sheet date. Private equity funds are generally reported on a one-quarter lag.
Unrealized Gain (Loss) on Investments	The following table presents the increase (decrease) in unrealized appreciation (depreciation) of our available for sale securities and other investments: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Increase (decrease) in unrealized appreciation (depreciation) of investments: Fixed maturity securities $ (1,934) $ (17,897) $ 3,071 $ (38,057) Other investments — (7) — (14) Total increase (decrease) in unrealized appreciation (depreciation) of investments* $ (1,934) $ (17,904) $ 3,071 $ (38,071) * Excludes net unrealized gains and losses attributable to businesses held for sale at June 30, 2023. The following table summarizes the unrealized gains and losses recognized in Net investment income during the reporting period on equity securities and other investments still held at the reporting date: Three Months Ended June 30, 2023 2022 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ 43 $ 187 $ 230 $ (30) $ (71) $ (101) Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period (13) 17 4 (1) (33) (34) Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ 56 $ 170 $ 226 $ (29) $ (38) $ (67) Six Months Ended June 30, 2023 2022 (in millions) Equities Other Total Equities Other Total Net gains (losses) recognized during the period on equity securities and other investments $ 94 $ 297 $ 391 $ (57) $ 404 $ 347 Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period 140 18 158 93 (36) 57 Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date $ (46) $ 279 $ 233 $ (150) $ 440 $ 290
Debt Securities, Available-for-sale, Allowance for Credit Loss	The following table presents a rollforward of the changes in allowance for credit losses on available for sale fixed maturity securities by major investment category: Three Months Ended June 30, 2023 2022 (in millions) Structured Non- Total Structured Non- Total Balance, beginning of period $ 45 $ 91 $ 136 $ 15 $ 176 $ 191 Additions: Securities for which allowance for credit losses were not previously recorded 16 40 56 2 28 30 Reductions: Securities sold during the period (2) (16) (18) (1) (40) (41) 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 — 2 2 10 8 18 Write-offs charged against the allowance (10) (37) (47) — (22) (22) Other (2) (2) (4) — (1) (1) Balance, end of period $ 47 $ 78 $ 125 $ 26 $ 149 $ 175 Six Months Ended June 30, 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 18 62 80 51 156 207 Reductions: Securities sold during the period (3) (26) (29) (1) (41) (42) 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) (2) (6) (32) (34) (66) Write-offs charged against the allowance (10) (87) (97) — (22) (22) Other — (9) (9) — — — Balance, end of period $ 47 $ 78 $ 125 $ 26 $ 149 $ 175
Schedule of Financial Instruments Owned and Pledged as Collateral	The following table presents the fair value of securities pledged to counterparties under secured financing transactions, including repurchase and securities lending agreements: (in millions) June 30, 2023 December 31, 2022 Fixed maturity securities available for sale $ 542 $ 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 June 30, 2023 Bonds available for sale: Non-U.S. governments $ — $ — $ — $ — $ — $ — Corporate debt 27 515 — — — 542 Total $ 27 $ 515 $ — $ — $ — $ 542 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 The following table presents information on the fair value of securities pledged to us under reverse repurchase agreements: (in millions) June 30, 2023 December 31, 2022 Securities collateral pledged to us $ 2,019 $ —

Lending Activities (Tables)

Lending Activities (Tables)	6 Months Ended
	Jun. 30, 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) June 30, 2023 December 31, 2022 Commercial mortgages (a) $ 37,926 $ 37,128 Residential mortgages 7,708 6,130 Life insurance policy loans 1,762 1,758 Commercial loans, other loans and notes receivable (b) 5,015 5,305 Total mortgage and other loans receivable (c) 52,411 50,321 Allowance for credit losses (c) (d) (806) (716) Mortgage and other loans receivable, net (c) $ 51,605 $ 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 18 percent and 11 percent, respectively, at June 30, 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 June 30, 2023 and December 31, 2022, the net carrying value of these loans were $186 million and $170 million, respectively. (c) Excludes $37.6 billion at both June 30, 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 $87 million and $69 million, respectively, at June 30, 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: June 30, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) >1.2X $ 1,363 $ 5,558 $ 2,531 $ 1,263 $ 5,190 $ 14,809 $ 30,714 1.00 - 1.20X 54 1,138 1,152 912 230 1,771 5,257 <1.00X 67 50 — 23 — 1,815 1,955 Total commercial mortgages $ 1,484 $ 6,746 $ 3,683 $ 2,198 $ 5,420 $ 18,395 $ 37,926 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: June 30, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) Less than 65% $ 1,048 $ 5,172 $ 2,744 $ 1,956 $ 3,948 $ 13,155 $ 28,023 65% to 75% 348 1,210 650 76 1,422 2,852 6,558 76% to 80% — 364 52 — — 469 885 Greater than 80% 88 — 237 166 50 1,919 2,460 Total commercial mortgages $ 1,484 $ 6,746 $ 3,683 $ 2,198 $ 5,420 $ 18,395 $ 37,926 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 June 30, 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 58 percent at June 30, 2023 and 59 percent at 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 June 30, 2023 Past Due Status: In good standing 618 $ 15,282 $ 9,766 $ 4,000 $ 6,180 $ 2,062 $ 437 $ 37,727 99 % 90 days or less delinquent — — — — — — — — — >90 days delinquent or in process of foreclosure (a) 4 — 157 42 — — — 199 1 Total (b) 622 $ 15,282 $ 9,923 $ 4,042 $ 6,180 $ 2,062 $ 437 $ 37,926 100 % Allowance for credit losses $ 98 $ 431 $ 94 $ 76 $ 29 $ 9 $ 737 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 (a) 4 — 173 42 — — — 215 1 Total (b) 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) Includes $157 million and $156 million of Office loans supporting the Fortitude Re funds withheld arrangements, greater than 90 days delinquent or in process of foreclosure, at June 30, 2023 and December 31, 2022, respectively. (b) Does not reflect allowance for credit losses. The following table presents credit quality performance indicators for residential mortgages by year of vintage: June 30, 2023 2023 2022 2021 2020 2019 Prior Total (in millions) FICO*: 780 and greater $ 285 $ 553 $ 2,317 $ 640 $ 241 $ 628 $ 4,664 720 - 779 664 582 540 169 80 235 2,270 660 - 719 170 250 88 38 26 106 678 600 - 659 2 21 7 7 6 40 83 Less than 600 — — 1 1 2 9 13 Total residential mortgages $ 1,121 $ 1,406 $ 2,953 $ 855 $ 355 $ 1,018 $ 7,708 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 June 30, 2023 (b) 2022 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of period $ 706 $ 80 $ 786 $ 533 $ 84 $ 617 Loans charged off (6) — (6) — — — Net charge-offs (6) — (6) — — — Addition to (release of) allowance for loan losses 37 (11) 26 (8) (6) (14) Reclassified to held for sale — — — — — — Allowance, end of period $ 737 $ 69 $ 806 $ 525 $ 78 $ 603 Six Months Ended June 30, 2023 (b) 2022 (in millions) Commercial Other Total Commercial Other Total Allowance, beginning of year $ 640 $ 76 $ 716 $ 545 $ 84 $ 629 Loans charged off (6) — (6) (4) — (4) Net charge-offs (6) — (6) (4) — (4) Addition to (release of) allowance for loan losses 103 (7) 96 (16) (6) (22) Reclassified to held for sale — — — — — — Allowance, end of period $ 737 $ 69 $ 806 $ 525 $ 78 $ 603 (a) Does not include allowance for credit losses of $87 million and $89 million, respectively, at June 30, 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 at both June 30, 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)	6 Months Ended
	Jun. 30, 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 (in millions) Total Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes (c) 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 (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.
Summary of Assets Supporting Funds Withheld Arrangements	There is a diverse pool of assets supporting the funds withheld arrangements with Fortitude Re. The following summarizes the composition of the pool of assets: June 30, 2023 December 31, 2022 (in millions) Carrying Fair Carrying Fair Corresponding Accounting Policy Fixed maturity securities - available for sale (a) $ 17,595 $ 17,595 $ 18,821 $ 18,821 Fair value through other comprehensive income (loss) Fixed maturity securities - fair value option 4,558 4,558 4,182 4,182 Fair value through net investment income Commercial mortgage loans 4,196 3,928 4,107 3,837 Amortized cost Real estate investments 126 302 133 348 Amortized cost Private equity funds / hedge funds 1,940 1,940 1,893 1,893 Fair value through net investment income Policy loans 341 341 355 355 Amortized cost Short-term investments 255 255 75 75 Fair value through net investment income Funds withheld investment assets 29,011 28,919 29,566 29,511 Derivative assets, net (b) 58 58 90 90 Fair value through net realized gains (losses) Other (c) 611 611 782 782 Amortized cost Total $ 29,680 $ 29,588 $ 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 $376 million ($297 million after-tax) and $(6.1) billion ($(4.8) billion after-tax), respectively for the six months ended June 30, 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 $191 million and $25 million, respectively, as of June 30, 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 Six Months Ended (in millions) 2023 2022 2023 2022 Net investment income - Fortitude Re funds withheld assets $ 291 $ 188 $ 737 $ 479 Net realized gains (losses) on Fortitude Re funds withheld assets: Net realized losses - Fortitude Re funds withheld assets (138) (86) (169) (226) Net realized gains (losses) - Fortitude Re funds withheld embedded derivative 180 2,776 (985) 6,094 Net realized gains (losses) on Fortitude Re funds withheld assets 42 2,690 (1,154) 5,868 Income (loss) from continuing operations before income tax expense (benefit) 333 2,878 (417) 6,347 Income tax expense (benefit) (a) 70 605 (88) 1,333 Net income (loss) 263 2,273 (329) 5,014 Change in unrealized appreciation (depreciation) of all other investments (a) (259) (2,156) 297 (4,794) Comprehensive income (loss) $ 4 $ 117 $ (32) $ 220 (a) The income tax expense (benefit) and the tax impact in AOCI was computed using AIG’s U.S. statutory tax rate of 21 percent.
Reinsurance Recoverable, Allowance for Credit Loss	The following table presents a rollforward of the reinsurance recoverable allowance: Three Months Ended June 30, 2023 2022 (in millions) General Insurance Life and Retirement Total General Insurance Life and Retirement Total Balance, beginning of period $ 253 $ 74 $ 327 $ 286 $ 105 $ 391 Addition to (release of) allowance for expected credit losses and disputes, net (1) (8) (9) (4) 2 (2) Write-offs charged against the allowance for credit losses and disputes — — — — — — Recoveries of amounts previously written off — — — 2 — 2 Other changes 2 — 2 — — — Balance, end of period $ 254 $ 66 $ 320 $ 284 $ 107 $ 391 Six Months Ended June 30, 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 (4) (18) (22) 1 6 7 Write-offs charged against the allowance for credit losses and disputes (1) — (1) (2) — (2) Recoveries of amounts previously written off — — — 2 — 2 Other changes (1) — (1) 2 — 2 Balance, end of period $ 254 $ 66 $ 320 $ 284 $ 107 $ 391

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs (Tables)	6 Months Ended
	Jun. 30, 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: Six Months Ended June 30, 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 2,385 358 37 234 10 3,024 Amortization expense (1,965) (272) (41) (201) (4) (2,483) Other, including foreign exchange* (734) — — 38 — (696) Balance, end of period $ 1,996 $ 4,683 $ 1,056 $ 4,910 $ 57 $ 12,702 Six Months Ended June 30, 2022 Balance, beginning of year $ 2,428 $ 4,553 $ 1,078 $ 4,904 $ 38 $ 13,001 Capitalization 2,046 281 29 215 6 2,577 Amortization expense (1,759) (242) (39) (210) (3) (2,253) Other, including foreign exchange (130) — — (77) — (207) Balance, end of period $ 2,585 $ 4,592 $ 1,068 $ 4,832 $ 41 $ 13,118 * Includes $712 million reclassified to Assets held for sale on the Condensed Consolidated Balance Sheets. 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 * Other assets, excluding DSI, totaled $12.8 billion. The following table presents a rollforward of DSI: Six Months Ended June 30, 2023 2023 2022 (in millions) Individual Group Total Individual Group Total Balance, beginning of year $ 381 $ 177 $ 558 $ 428 $ 191 $ 619 Capitalization 4 1 5 4 — 4 Amortization expense (27) (7) (34) (26) (7) (33) Balance, end of period* $ 358 $ 171 $ 529 $ 406 $ 184 $ 590 * At June 30, 2023 and 2022, Other assets, excluding DSI, totaled $12.3 billion and $13.0 billion, respectively.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2023 Assets: Bonds available for sale $ — $ 236 $ 236 Equity securities 34 — 34 Mortgage and other loans receivable — 2,139 2,139 Other invested assets Alternative investments (a) 2,860 — 2,860 Investment real estate 1,784 — 1,784 Short-term investments 292 33 325 Cash 99 — 99 Accrued investment income — 16 16 Other assets 130 1 131 Total (b) $ 5,199 $ 2,425 $ 7,624 Liabilities: Debt of consolidated investment entities $ 1,410 $ 1,197 $ 2,607 Other (c) 102 23 125 Total $ 1,512 $ 1,220 $ 2,732 (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 June 30, 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 June 30, 2023 and December 31, 2022. (d) At June 30, 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 six months ended June 30, 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 $3.6 billion in assets and $3.1 billion in liabilities, resulting in a pre-tax loss of $14 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 June 30, 2023 Real estate and investment entities (a) $ 513,797 $ 9,318 $ 3,826 (d) $ 13,144 Other (b) 1,027 58 748 (e) 806 Total $ 514,824 $ 9,376 $ 4,574 $ 13,950 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 June 30, 2023 and December 31, 2022, excludes approximately $1,986 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 $1,959 million and $2,033 million, respectively. For additional information, see Note 1. (c) At June 30, 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)	6 Months Ended
	Jun. 30, 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: June 30, 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 $ 642 $ 210 $ 1,428 $ 38 $ 251 $ 355 $ 1,688 $ 66 Foreign exchange contracts 4,978 530 3,752 275 4,543 642 4,899 317 Derivatives not designated as hedging instruments: (a) Interest rate contracts 35,331 2,251 30,855 3,070 39,833 3,367 34,128 4,772 Foreign exchange contracts 9,968 897 10,077 524 8,626 1,202 10,397 821 Equity contracts 35,621 1,280 9,042 347 31,264 428 4,740 26 Commodity contracts — — — — 212 9 20 — Credit contracts (b) 1,807 33 537 39 1,808 32 933 41 Other contracts (c) 46,017 15 — — 47,184 14 — — Total derivatives, gross $ 134,364 $ 5,216 $ 55,691 $ 4,293 $ 133,721 $ 6,049 $ 56,805 $ 6,043 Counterparty netting (d) (2,826) (2,826) (3,895) (3,895) Cash collateral (e) (1,980) (1,182) (1,640) (1,917) Total derivatives on Condensed Consolidated Balance Sheets (f) $ 410 $ 285 $ 514 $ 231 (a) Fair value amounts are shown before the effects of counterparty netting adjustments and offsetting cash collateral. (b) As of June 30, 2023 and December 31, 2022, included CDSs on super senior multi-sector CLO with a net notional amount of $53 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 $2.1 billion at June 30, 2023 and $2.2 billion at December 31, 2022. Fair value of liabilities related to bifurcated embedded derivatives was $6.9 billion and $5.4 billion, respectively, at June 30, 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 8.
Schedule of Gain (Loss) Recognized in Income on Derivative Instruments in Fair Value Hedging Relationships	The following table presents the gain (loss) recognized in income on our derivative instruments in fair value hedging relationships in the Condensed Consolidated Statements of Income (Loss): Gains/(Losses) Recognized in Income for: (in millions) Hedging Derivatives (a) Excluded Components (b) Hedged Net Impact Three Months Ended June 30, 2023 Interest rate contracts: Interest credited to policyholder account balances $ (7) $ 1 $ (3) $ (9) Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) (314) 121 314 121 Three Months Ended June 30, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (7) $ — $ 8 $ 1 Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) 325 98 (325) 98 Six Months Ended June 30, 2023 Interest rate contracts: Interest credited to policyholder account balances $ 36 $ 1 $ (50) $ (13) Net investment income — — — — Foreign exchange contracts: Net realized gains/(losses) (444) 197 444 197 Six Months Ended June 30, 2022 Interest rate contracts: Interest credited to policyholder account balances $ (28) $ — $ 31 $ 3 Net investment income 1 — (1) — Foreign exchange contracts: Net realized gains/(losses) 434 140 (434) 140 (a) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are included in the assessment of hedge effectiveness. (b) Gains and losses on derivative instruments designated and qualifying in fair value hedges that are excluded from the assessment of hedge effectiveness and recognized in income on a mark-to-market basis.
Derivatives Not Designated as Hedging Instruments	The following table presents the effect of derivative instruments not designated as hedging instruments in the Condensed Consolidated Statements of Income (Loss): Gains (Losses) Recognized in Income Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 By Derivative Type: Interest rate contracts $ (179) $ (869) $ (84) $ (1,482) Foreign exchange contracts (220) 730 (321) 966 Equity contracts 3 78 (75) (126) Commodity contracts 1 (3) 8 (7) Credit contracts — — (1) (1) Other contracts 17 13 33 31 Embedded derivatives (256) 3,333 (1,804) 7,312 Total $ (634) $ 3,282 $ (2,244) $ 6,693 By Classification: Policy fees $ 17 $ 15 $ 33 $ 30 Net investment income - excluding Fortitude Re funds withheld assets — 3 — 2 Net investment income - Fortitude Re funds withheld assets — — (2) — Net realized gains (losses) - excluding Fortitude Re funds withheld assets (120) 659 (511) 1,266 Net realized gains (losses) on Fortitude Re funds withheld assets (a) 93 2,824 (1,034) 6,086 Policyholder benefits and claims incurred (3) (7) — (14) Change in the fair value of market risk benefits, net (b) (621) (212) (730) (677) Total $ (634) $ 3,282 $ (2,244) $ 6,693 (a) Includes over-the-counter derivatives supporting the funds withheld arrangements with Fortitude Re and the embedded derivative contained within the funds withheld payable with Fortitude Re.

Insurance Liabilities (Tables)

Insurance Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Rollforward of Activity in Loss Reserves	The following table presents the rollforward of activity in loss reserves: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Liability for unpaid loss and loss adjustment expenses, beginning of period $ 75,793 $ 78,183 $ 75,167 $ 79,026 Reinsurance recoverable (32,366) (34,321) (32,102) (35,213) Net Liability for unpaid loss and loss adjustment expenses, beginning of period 43,427 43,862 43,065 43,813 Losses and loss adjustment expenses incurred: Current year 3,945 3,765 7,729 7,647 Prior years, excluding discount and amortization of deferred gain (107) (374) (134) (425) Prior years, discount charge (benefit) 54 38 148 42 Prior years, amortization of deferred gain on retroactive reinsurance (a) (25) 28 (85) (14) Total losses and loss adjustment expenses incurred 3,867 3,457 7,658 7,250 Losses and loss adjustment expenses paid: Current year (881) (834) (1,170) (1,157) Prior years (2,994) (2,729) (6,543) (6,171) Total losses and loss adjustment expenses paid (3,875) (3,563) (7,713) (7,328) Other changes: Foreign exchange effect (25) (800) 372 (796) Retroactive reinsurance adjustment (net of discount) (b) 47 200 59 217 Reclassified to held for sale, net of reinsurance recoverables (3,383) — (3,383) — Total other changes (3,361) (600) (2,952) (579) Liability for unpaid loss and loss adjustment expenses, end of period: Net liability for unpaid losses and loss adjustment expenses 40,058 43,156 40,058 43,156 Reinsurance recoverable (c) 30,226 33,583 30,226 33,583 Total $ 70,284 $ 76,739 $ 70,284 $ 76,739 (a) Includes $6 million and $6 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 months ended June 30, 2023 and 2022, respectively, and $13 million and $10 million for the six months ended June 30, 2023 and 2022, respectively. (b) Includes benefit (charge) from change in discount on retroactive reinsurance in the amount of $26 million and $18 million for the three months ended June 30, 2023 and 2022 respectively, and $96 million and $57 million for the six months ended June 30, 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) June 30, 2023 December 31, 2022 U.S. workers' compensation $ 2,452 $ 2,532 Retroactive reinsurance (1,158) (1,254) Total reserve discount (a)(b) $ 1,294 $ 1,278 (a) Excludes $143 million and $135 million of discount related to certain long-tail liabilities in the UK at June 30, 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 Six Months Ended (in millions) 2023 2022 2023 2022 Current accident year $ 38 $ 24 $ 68 $ 48 Accretion and other adjustments to prior year discount (54) (38) (148) (42) Net reserve discount benefit (charge) (16) (14) (80) 6 Change in discount on loss reserves ceded under retroactive reinsurance 26 18 96 57 Net change in total reserve discount* $ 10 $ 4 $ 16 $ 63 * Excludes $4 million and $(7) million discount related to certain long-tail liabilities in the UK for the three months ended June 30, 2023 and 2022, respectively, and excludes $8 million and $(5) million discount related to certain long-tail liabilities in the UK for the six months ended June 30, 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 tables present 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: Six Months Ended June 30, 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 (26) — — 10 — 6 (10) Adjusted beginning of year balance 2,165 — — 13,536 — 1,063 16,764 Issuances 67 — — 666 — — 733 Interest accrual 21 — — 214 — 23 258 Net premium collected (117) — — (719) — (59) (895) Foreign exchange impact (88) — — 206 — — 118 Other — — — 10 — — 10 Ending balance at original discount rate 2,048 — — 13,913 — 1,027 16,988 Effect of changes in discount rate assumptions (AOCI) (330) — — (1,904) — (61) (2,295) Balance, end of period $ 1,718 $ — $ — $ 12,009 $ — $ 966 $ 14,693 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) (16) (1) — 36 17 (8) 28 Adjusted beginning of year balance 2,726 1,389 213 24,639 15,115 21,504 65,586 Issuances 70 120 6 656 3,301 3 4,156 Interest accrual 26 25 5 450 301 513 1,320 Benefit payments (122) (65) (13) (943) (521) (739) (2,403) Foreign exchange impact (121) — — 236 308 — 423 Other — — — 5 — (6) (1) Ending balance at original discount rate 2,579 1,469 211 25,043 18,504 21,275 69,081 Effect of changes in discount rate assumptions (AOCI) (423) (158) (1) (3,386) (2,752) (822) (7,542) Balance, end of period $ 2,156 $ 1,311 $ 210 $ 21,657 $ 15,752 $ 20,453 $ 61,539 Net liability for future policy benefits, end of period $ 438 $ 1,311 $ 210 $ 9,648 $ 15,752 $ 19,487 $ 46,846 Liability for future policy benefits for certain participating contracts 1,329 Liability for universal life policies with secondary guarantees and similar features (b) 3,458 Deferred profit liability 2,451 Other reconciling items (c) 1,606 Future policy benefits for life and accident and health insurance contracts 55,690 Less: Reinsurance recoverable (23,765) Net liability for future policy benefits after reinsurance recoverable $ 31,925 Weighted average liability duration of the liability for future policy benefits (d) 9.9 7.8 6.9 12.5 11.6 11.5 Six Months Ended June 30, 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 — — (8) — 4 (4) Adjusted beginning of year balance — — 13,655 — 1,128 14,783 Issuances — — 728 — — 728 Interest accrual — — 199 — 25 224 Net premium collected — — (710) — (62) (772) Foreign exchange impact — — (479) — — (479) Other — — — — — — Ending balance at original discount rate — — 13,393 — 1,091 14,484 Effect of changes in discount rate assumptions (AOCI) — — (1,174) — (16) (1,190) Balance, end of period $ — $ — $ 12,219 $ — $ 1,075 $ 13,294 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) (7) (1) (6) (5) (18) (37) Adjusted beginning of year balance 1,271 217 24,719 13,015 21,983 61,205 Issuances 102 7 726 708 5 1,548 Interest accrual 20 4 439 215 615 1,293 Benefit payments (56) (13) (905) (390) (746) (2,110) Foreign exchange impact — — (610) (318) — (928) Other — — (1) — (98) (99) Ending balance at original discount rate 1,337 215 24,368 13,230 21,759 60,909 Effect of changes in discount rate assumptions (AOCI) (109) 10 (1,868) (1,712) 451 (3,228) Balance, end of period $ 1,228 $ 225 $ 22,500 $ 11,518 $ 22,210 $ 57,681 Net liability for future policy benefits, end of period $ 1,228 $ 225 $ 10,281 $ 11,518 $ 21,135 $ 44,387 Liability for future policy benefits for certain participating contracts 1,373 Liability for universal life policies with secondary guarantees and similar features (b) 3,663 Deferred profit liability 2,199 Other reconciling items (c) 2,222 Future policy benefits for life and accident and health insurance contracts 53,844 Less: Reinsurance recoverable (26,677) Net liability for future policy benefits after reinsurance recoverable $ 27,167 Weighted average liability duration of the liability for future policy benefits (d) 7.7 7.2 12.7 11.1 12.0 (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 six months ended June 30, 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 $13 million and $8 million, respectively, with a charge to net income. The discount rate was updated based on market observable information. Relative to the prior period, the increase in upper-medium-grade fixed income yields resulted in a decrease in the liability for future policy benefits. The following table presents the amount of undiscounted expected future benefit payments and undiscounted and discounted expected gross premiums for future policy benefits for nonparticipating contracts: Six Months Ended June 30, (in millions) 2023 2022 General Insurance Undiscounted expected future benefits and expense $ 3,165 $ 3,421 Undiscounted expected future gross premiums 4,383 4,494 Discounted expected future gross premiums (at current discount rate) 3,109 3,533 Individual Retirement Undiscounted expected future benefits and expense $ 2,115 $ 1,835 Undiscounted expected future gross premiums — — Discounted expected future gross premiums (at current discount rate) — — Group Retirement Undiscounted expected future benefits and expense $ 316 $ 328 Undiscounted expected future gross premiums — — Discounted expected future gross premiums (at current discount rate) — — Life Insurance Undiscounted expected future benefits and expense $ 39,848 $ 38,406 Undiscounted expected future gross premiums 29,792 28,810 Discounted expected future gross premiums (at current discount rate) 19,207 19,704 Institutional Markets Undiscounted expected future benefits and expense $ 33,474 $ 21,092 Undiscounted expected future gross premiums — — Discounted expected future gross premiums (at current discount rate) — — Other* Undiscounted expected future benefits and expense $ 43,791 $ 45,258 Undiscounted expected future gross premiums 2,179 2,346 Discounted expected future gross premiums (at current discount rate) 1,435 1,602 * 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 Gross Premiums Interest Accretion Three Months Ended Three Months Ended Six Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 General Insurance $ 137 $ 155 $ 3 $ 3 $ 232 $ 252 $ 4 $ 4 Individual Retirement 61 57 13 10 136 108 25 20 Group Retirement 4 5 2 1 10 13 5 4 Life Insurance 600 586 118 119 1,175 1,168 236 240 Institutional Markets 1,919 503 162 110 3,500 747 301 215 Other* 53 57 245 341 107 113 490 590 Total $ 2,774 $ 1,363 $ 543 $ 584 $ 5,160 $ 2,401 $ 1,061 $ 1,073 * 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: Six Months Ended June 30, 2023 General Individual Group Life Institutional Other* Weighted-average interest rate, original discount rate 1.81 % 3.73 % 5.14 % 4.09 % 3.95 % 4.88 % Weighted-average interest rate, current discount rate 3.59 % 5.27 % 5.26 % 5.27 % 5.34 % 5.25 % Six Months Ended June 30, 2022 Weighted-average interest rate, original discount rate 1.67 % 3.37 % 5.20 % 4.15 % 3.30 % 4.84 % Weighted-average interest rate, current discount rate 2.68 % 4.61 % 4.58 % 4.62 % 4.52 % 4.72 % * 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 14. (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: Six Months Ended June 30, 2023 2022 (in millions, except duration of liability) Life Other (b) Total Life Other (b) Total Balance, beginning of year $ 3,300 $ 55 $ 3,355 $ 4,952 $ 55 $ 5,007 Effect of changes in experience 149 (1) 148 194 (2) 192 Adjusted beginning balance 3,449 54 3,503 5,146 53 5,199 Assessments 341 1 342 344 1 345 Excess benefits paid (457) — (457) (496) — (496) Interest accrual 61 1 62 65 1 66 Other (3) — (3) (5) — (5) Changes related to unrealized appreciation (depreciation) of investments 11 — 11 (1,446) — (1,446) Balance, end of period 3,402 56 3,458 3,608 55 3,663 Less: Reinsurance recoverable (172) — (172) (209) — (209) Balance, end of period net of Reinsurance recoverable $ 3,230 $ 56 $ 3,286 $ 3,399 $ 55 $ 3,454 Weighted average duration of liability (a) 26.2 9.2 27.1 9.7 (a) The weighted average duration of liabilities is 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. (b) 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 Gross Assessments Interest Accretion Three Months Ended Three Months Ended Six Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 2023 2022 2023 2022 Life Insurance $ 274 $ 284 $ 33 $ 31 $ 573 $ 576 $ 61 $ 65 Other* 10 9 — — 20 19 1 1 Total $ 284 $ 293 $ 33 $ 31 $ 593 $ 595 $ 62 $ 66 * 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: Six Months Ended June 30, 2023 2022 Life Insurance Other* Life Insurance Other* Weighted-average interest rate 3.77 % 4.20 % 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: Six Months Ended June 30, 2023 Life Institutional Other* Total (in millions) Balance, beginning of year $ 1,727 $ 2 $ 105 $ 1,834 Revenue deferred 76 — — 76 Amortization (55) (1) (5) (61) Balance, end of period $ 1,748 $ 1 $ 100 $ 1,849 Six Months Ended June 30, 2022 Life Institutional Other* Total (in millions) Balance, beginning of year $ 1,693 $ 2 $ 116 $ 1,811 Revenue deferred 70 — — 70 Amortization (54) — (6) (60) Balance, end of period $ 1,709 $ 2 $ 110 $ 1,821
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: Six Months Ended June 30, (dollars in millions) 2023 2022 Account value $ 3,604 $ 3,406 Net amount at risk $ 70,850 $ 66,889 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) : Six Months Ended June 30, 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 Deposits 8,898 2,597 809 1,608 22 13,934 Policy charges (462) (238) (764) (34) (31) (1,529) Surrenders and withdrawals (6,585) (3,979) (122) (421) (42) (11,149) Benefit payments (2,012) (1,080) (100) (283) (171) (3,646) Net transfers from (to) separate account 1,637 1,221 — 473 — 3,331 Interest credited 863 554 188 218 85 1,908 Other (3) 4 (32) (1) 8 (24) Policyholder contract deposits account balance, end of period 91,890 42,474 10,203 13,294 3,458 161,319 Other reconciling items (b) (1,598) (254) 135 42 (72) (1,747) Policyholder contract deposits $ 90,292 $ 42,220 $ 10,338 $ 13,336 $ 3,386 $ 159,572 Weighted average crediting rate 2.59 % 2.84 % 4.30 % 3.54 % 4.95 % Cash surrender value (c) $ 85,417 $ 41,550 $ 8,976 $ 2,555 $ 1,762 $ 140,260 Six Months Ended June 30, 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 Deposits 7,547 2,341 835 162 24 10,909 Policy charges (395) (259) (782) (34) (33) (1,503) Surrenders and withdrawals (4,008) (2,726) (103) (27) (32) (6,896) Benefit payments (1,996) (1,072) (119) (160) (178) (3,525) Net transfers from (to) separate account 1,074 1,155 (2) 14 — 2,241 Interest credited 882 550 193 128 90 1,843 Other 6 1 (10) (29) 7 (25) Policyholder contract deposits account balance, end of period 87,207 43,892 10,195 10,858 3,701 155,853 Other reconciling items (b) (2,245) (353) (60) 43 (77) (2,692) Policyholder contract deposits $ 84,962 $ 43,539 $ 10,135 $ 10,901 $ 3,624 $ 153,161 Weighted average crediting rate 2.38 % 2.72 % 4.25 % 2.40 % 4.90 % Cash surrender value (c) $ 81,207 $ 43,094 $ 8,935 $ 2,524 $ 1,839 $ 137,599 (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 $(72) million and $(77) million at June 30, 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 13. 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: June 30, 2023 At 1 Basis Point - More than 50 Total (in millions, except percentage of total) Individual Retirement Range of Guaranteed Minimum Credited Rate <=1% $ 7,044 $ 2,390 $ 23,797 $ 33,231 > 1% - 2% 4,151 23 2,067 6,241 > 2% - 3% 8,831 11 732 9,574 > 3% - 4% 7,122 39 6 7,167 > 4% - 5% 446 — 4 450 > 5% 32 — 4 36 Total $ 27,626 $ 2,463 $ 26,610 $ 56,699 Group Retirement Range of Guaranteed Minimum Credited Rate <=1% $ 2,018 $ 2,574 $ 6,382 $ 10,974 > 1% - 2% 4,050 1,624 391 6,065 > 2% - 3% 13,123 89 62 13,274 > 3% - 4% 651 — — 651 > 4% - 5% 6,799 — — 6,799 > 5% 151 — — 151 Total $ 26,792 $ 4,287 $ 6,835 $ 37,914 Life Insurance Range of Guaranteed Minimum Credited Rate <=1% $ — $ — $ — $ — > 1% - 2% — 131 350 481 > 2% - 3% 10 872 1,083 1,965 > 3% - 4% 1,190 322 201 1,713 > 4% - 5% 2,909 — — 2,909 > 5% 221 — — 221 Total $ 4,330 $ 1,325 $ 1,634 $ 7,289 Total* $ 58,748 $ 8,075 $ 35,079 $ 101,902 Percentage of total 58 % 8 % 34 % 100 % June 30, 2022 At 1 Basis Point - More than 50 Total (in millions, except percentage of total) Individual Retirement Range of Guaranteed Minimum Credited Rate <=1% $ 10,300 $ 1,775 $ 19,868 $ 31,943 > 1% - 2% 4,300 25 1,666 5,991 > 2% - 3% 9,995 1 18 10,014 > 3% - 4% 7,934 40 6 7,980 > 4% - 5% 471 — 5 476 > 5% 34 — 4 38 Total $ 33,034 $ 1,841 $ 21,567 $ 56,442 Group Retirement Range of Guaranteed Minimum Credited Rate <=1% $ 3,817 $ 1,717 $ 4,674 $ 10,208 > 1% - 2% 6,310 410 7 6,727 > 2% - 3% 14,556 — — 14,556 > 3% - 4% 696 — — 696 > 4% - 5% 6,953 — — 6,953 > 5% 159 — — 159 Total $ 32,491 $ 2,127 $ 4,681 $ 39,299 Life Insurance Range of Guaranteed Minimum Credited Rate <=1% $ — $ — $ — $ — > 1% - 2% 105 24 350 479 > 2% - 3% 240 638 1,108 1,986 > 3% - 4% 1,395 186 189 1,770 > 4% - 5% 3,024 — — 3,024 > 5% 226 — — 226 Total $ 4,990 $ 848 $ 1,647 $ 7,485 Total* $ 70,515 $ 4,816 $ 27,895 $ 103,226 Percentage of total 68 % 5 % 27 % 100 % * Excludes policyholder contract deposits account balances that are not subject to guaranteed minimum crediting rates.

Market Risk Benefits (Tables)

Market Risk Benefits (Tables)	6 Months Ended
	Jun. 30, 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 AOCI 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 AOCI 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: Six Months Ended June 30, 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 379 19 398 Interest accrual 78 8 86 Attributed fees 442 33 475 Expected claims (48) (1) (49) Effect of changes in interest rates 34 3 37 Effect of changes in interest rate volatility (84) (4) (88) Effect of changes in equity markets (843) (78) (921) Effect of changes in equity index volatility 8 (4) 4 Actual outcome different from model expected outcome 93 12 105 Effect of changes in other future expected assumptions (94) (29) (123) Other, including foreign exchange — (2) (2) Balance, end of period, before effect of changes in our own credit risk 3,262 229 3,491 Effect of changes in our own credit risk 564 47 611 Balance, end of period 3,826 276 4,102 Less: Reinsured MRB, end of period (79) — (79) Net Liability Balance after reinsurance recoverable $ 3,747 $ 276 $ 4,023 Six Months Ended June 30, 2023 Individual Group Total (in millions, except for attained age of contract holders) Net amount at risk GMDB only $ 1,068 $ 212 $ 1,280 GMWB only $ 56 $ 4 $ 60 Combined* $ 1,435 $ 23 $ 1,458 Weighted average attained age of contract holders 70 64 Six Months Ended June 30, 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 97 11 108 Interest accrual 83 11 94 Attributed fees 409 37 446 Expected claims (28) (1) (29) Effect of changes in interest rates (2,864) (270) (3,134) Effect of changes in interest rate volatility 180 12 192 Effect of changes in equity markets 1,558 136 1,694 Effect of changes in equity index volatility (42) (4) (46) Actual outcome different from model expected outcome 130 13 143 Other, including foreign exchange 2 (8) (6) Balance, end of period, before effect of changes in our own credit risk 4,043 352 4,395 Effect of changes in our own credit risk 355 20 375 Balance, end of period 4,398 372 4,770 Less: Reinsured MRB, end of period (110) — (110) Net Liability Balance after reinsurance recoverable $ 4,288 $ 372 $ 4,660 Net amount at risk GMDB only $ 1,828 $ 396 $ 2,224 GMWB only $ 58 $ 5 $ 63 Combined* $ 2,052 $ 11 $ 2,063 Weighted average attained age of contract holders 70 64 * 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: June 30, 2023 June 30, 2022 (in millions) Asset* Liability* Net Asset* Liability* Net Individual Retirement $ 787 $ 4,534 $ 3,747 $ 527 $ 4,815 $ 4,288 Group Retirement 167 443 276 115 487 372 Total $ 954 $ 4,977 $ 4,023 $ 642 $ 5,302 $ 4,660 * 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)	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Fair Value, Separate Account Investment	The following table presents fair value of separate account investment options: June 30, 2023 June 30, 2022 (in millions) Individual Group Life Institutional Total Individual Group Life Institutional Total Equity Funds $ 24,804 $ 27,889 $ 777 $ 630 $ 54,100 $ 23,012 $ 25,210 $ 690 $ 576 $ 49,488 Bond Funds 3,974 3,428 43 1,302 8,747 3,887 4,010 46 1,358 9,301 Balanced Funds 17,911 5,375 51 1,880 25,217 18,684 5,181 49 2,444 26,358 Money Market Funds 720 553 17 364 1,654 679 501 22 386 1,588 Total $ 47,409 $ 37,245 $ 888 $ 4,176 $ 89,718 $ 46,262 $ 34,902 $ 807 $ 4,764 $ 86,735
Separate Account, Liability	The following table presents the balances and changes in Separate account liabilities: Six Months Ended June 30, 2023 Individual Group Life Institutional Total (in millions) Balance, beginning of year $ 45,178 $ 34,361 $ 799 $ 4,515 $ 84,853 Premiums and deposits 807 697 18 30 1,552 Policy charges (662) (221) (25) (47) (955) Surrenders and withdrawals (1,776) (1,390) (12) (422) (3,600) Benefit payments (432) (250) (3) (58) (743) Investment performance 4,172 4,169 113 146 8,600 Net transfers from (to) general account 122 (121) (2) 11 10 Other charges — — — 1 1 Balance, end of period $ 47,409 $ 37,245 $ 888 $ 4,176 $ 89,718 Cash surrender value* $ 46,307 $ 37,050 $ 854 $ 4,178 $ 88,389 Six Months Ended June 30, 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 1,354 868 19 33 2,274 Policy charges (646) (244) (25) (50) (965) Surrenders and withdrawals (1,741) (1,329) (11) (25) (3,106) Benefit payments (476) (283) (4) (12) (775) Investment performance (10,249) (8,987) (216) (208) (19,660) Net transfers from (to) general account 93 (261) — 22 (146) Other charges — — — 2 2 Balance, end of period $ 46,262 $ 34,902 $ 807 $ 4,764 $ 86,735 Cash surrender value* $ 45,154 $ 34,699 $ 792 $ 4,766 $ 85,411

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Rollforward of Common Stock Outstanding	The following table presents a rollforward of outstanding shares: Six Months Ended June 30, 2023 Common Treasury Common Stock (in millions) Shares, beginning of year 1,906.7 (1,172.6) 734.1 Shares issued — 4.8 4.8 Shares repurchased — (21.4) (21.4) Shares, end of period 1,906.7 (1,189.2) 717.5
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 Fair Change in the Foreign Retirement Fair Value of Total Balance, March 31, 2023, net of tax $ (134) $ (17,129) $ (226) $ 2,150 $ (3,094) $ (896) $ — $ (19,329) Change in unrealized appreciation (depreciation) of investments* 104 (2,383) — — — — — (2,279) Change in other — (159) — — — — — (159) Change in fair value of market risk benefits, net — — (241) — — — — (241) Change in discount rates — — — 531 — — — 531 Change in future policy benefits — 137 — — — — — 137 Change in foreign currency translation adjustments — — — — (25) — — (25) Change in net actuarial loss — — — — — 78 — 78 Change in prior service cost — — — — — 2 — 2 Change in deferred tax asset (liability) (20) 407 51 (158) (34) (28) — 218 Total other comprehensive income (loss) 84 (1,998) (190) 373 (59) 52 — (1,738) Other changes in AOCI: Corebridge noncontrolling interests sale 4 2,125 54 (345) (10) (1) — 1,827 Noncontrolling interests 14 (347) (47) 111 11 — — (258) Balance, June 30, 2023, net of tax $ (60) $ (16,655) $ (315) $ 2,067 $ (3,174) $ (845) $ — $ (18,982) Balance, March 31, 2022, net of tax $ (88) $ (2,690) $ (791) $ (99) $ (2,472) $ (894) $ 6 $ (7,028) Change in unrealized appreciation (depreciation) of investments 45 (17,949) — — — — — (17,904) Change in other (1) (3) — — — — — (4) Change in fair value of market risk benefits, net — — 737 — — — — 737 Change in discount rates — — — 2,352 — — — 2,352 Change in future policy benefits — 640 — — — — — 640 Change in foreign currency translation adjustments — — — — (273) — — (273) Change in net actuarial loss — — — — — 5 — 5 Change in prior service cost — — — — — 4 — 4 Change in deferred tax asset (liability) (8) 2,530 (155) (482) (62) 7 — 1,830 Change in fair value of liabilities under fair value option attributable to changes in our own credit risk — — — — — — (4) (4) Total other comprehensive income (loss) 36 (14,782) 582 1,870 (335) 16 (4) (12,617) Noncontrolling interests 4 (1,224) 58 181 (17) — — (998) Balance, June 30, 2022, net of tax $ (56) $ (16,248) $ (267) $ 1,590 $ (2,790) $ (878) $ 2 $ (18,647) * Includes net unrealized gains and losses attributable to businesses held for sale at June 30, 2023.
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments	The following table presents the other comprehensive income (loss) reclassification adjustments for the three and six months ended June 30, 2023 and 2022 , respectively: (in millions) Unrealized Unrealized Change in Fair Change in the Foreign Retirement Fair Value of Total Three Months Ended June 30, 2023 Unrealized change arising during period $ 97 $ (2,739) $ (241) $ 531 $ (25) $ 72 $ — $ (2,305) Less: Reclassification adjustments included in net income (7) (334) — — — (8) — (349) Total other comprehensive income (loss), before income tax expense (benefit) 104 (2,405) (241) 531 (25) 80 — (1,956) Less: Income tax expense (benefit) 20 (407) (51) 158 34 28 — (218) Total other comprehensive income (loss), net of income tax expense (benefit) $ 84 $ (1,998) $ (190) $ 373 $ (59) $ 52 $ — $ (1,738) Three Months Ended June 30, 2022 Unrealized change arising during period $ 36 $ (17,908) $ 737 $ 2,352 $ (273) $ 2 $ (4) $ (15,058) Less: Reclassification adjustments included in net income (8) (596) — — — (7) — (611) Total other comprehensive income (loss), before income tax expense (benefit) 44 (17,312) 737 2,352 (273) 9 (4) (14,447) Less: Income tax expense (benefit) 8 (2,530) 155 482 62 (7) — (1,830) Total other comprehensive income (loss), net of income tax expense (benefit) $ 36 $ (14,782) $ 582 $ 1,870 $ (335) $ 16 $ (4) $ (12,617) Six Months Ended June 30, 2023 Unrealized change arising during period $ 90 $ 1,827 $ (146) $ 4 $ (44) $ 90 $ — $ 1,821 Less: Reclassification adjustments included in net income (23) (770) — — — (17) — (810) Total other comprehensive income (loss), before of income tax expense (benefit) 113 2,597 (146) 4 (44) 107 — 2,631 Less: Income tax expense (benefit) 23 343 (31) 51 43 27 — 456 Total other comprehensive income (loss), net of income tax expense (benefit) $ 90 $ 2,254 $ (115) $ (47) $ (87) $ 80 $ — $ 2,175 Six Months Ended June 30, 2022 Unrealized change arising during period $ (21) $ (37,347) $ 1,728 $ 5,235 $ (276) $ 6 $ (4) $ (30,679) Less: Reclassification adjustments included in net income (8) (735) — — — (15) — (758) Total other comprehensive income (loss), before income tax expense (benefit) (13) (36,612) 1,728 5,235 (276) 21 (4) (29,921) Less: Income tax expense (benefit) (4) (5,689) 364 1,075 65 (4) — (4,193) Total other comprehensive income (loss), net of income tax expense (benefit) $ (9) $ (30,923) $ 1,364 $ 4,160 $ (341) $ 25 $ (4) $ (25,728)
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 June 30, 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 $ (7) $ (8) Net realized gains (losses) Total (7) (8) Unrealized appreciation (depreciation) of all other investments Investments (334) (596) Net realized gains (losses) Total (334) (596) Change in retirement plan liabilities adjustment Prior-service credit — — (b) Actuarial losses (8) (7) (b) Total (8) (7) Total reclassifications for the period $ (349) $ (611) Amount Reclassified from AOCI Affected Line Item in the Six Months Ended June 30, 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 $ (23) $ (8) Net realized gains (losses) Total (23) (8) Unrealized appreciation (depreciation) of all other investments Investments (770) (735) Net realized gains (losses) Total (770) (735) Change in retirement plan liabilities adjustment Prior-service credit (1) (1) (b) Actuarial losses (16) (14) (b) Total (17) (15) Total reclassifications for the period $ (810) $ (758) (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.
Schedule of Change in Ownership	The following table presents the effect of changes in our ownership interest in Corebridge on our equity: (in millions) Three Months Ended Six Months Ended Net income attributable to AIG common shareholders $ 1,485 $ 1,508 Changes in AIG equity for sale of interest in Corebridge and Corebridge share repurchases (86) (86) Change from Net income attributable to AIG common shareholders and changes in AIG's ownership interests $ 1,399 $ 1,422

Earnings Per Common Share (EP_2

Earnings Per Common Share (EPS) (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended (dollars in millions, except per common share data) 2023 2022 2023 2022 Numerator for EPS: Income from continuing operations $ 1,691 $ 3,080 $ 1,604 $ 7,640 Less: Net income from continuing operations attributable to noncontrolling interests 198 325 81 712 Less: Preferred stock dividends 8 8 15 15 Income attributable to AIG common shareholders from continuing operations 1,485 2,747 1,508 6,913 Income (loss) from discontinued operations, net of income tax expense — (1) — (1) Net income attributable to AIG common shareholders $ 1,485 $ 2,746 $ 1,508 $ 6,912 Denominator for EPS: Weighted average common shares outstanding - basic 725,754,549 790,897,301 732,175,533 803,532,447 Dilutive common shares 4,792,563 9,833,445 5,115,161 9,765,891 Weighted average common shares outstanding - diluted (a) 730,547,112 800,730,746 737,290,694 813,298,338 Income (loss) per common share attributable to AIG common shareholders: Basic: Income from continuing operations $ 2.05 $ 3.47 $ 2.06 $ 8.60 Income from discontinued operations $ — $ — $ — $ — Income attributable to AIG common shareholders $ 2.05 $ 3.47 $ 2.06 $ 8.60 Diluted: Income from continuing operations $ 2.03 $ 3.43 $ 2.05 $ 8.50 Income from discontinued operations $ — $ — $ — $ — Income attributable to AIG common shareholders $ 2.03 $ 3.43 $ 2.05 $ 8.50 (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 6.6 million and 5.5 million for the three and six months ended June 30, 2023, respectively, and 46.6 million and 46.2 million for the three and six months ended June 30, 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		6 Months Ended
	Jun. 26, 2023 USD ($)	Jun. 12, 2023 USD ($) $ / shares shares	Dec. 14, 2022 USD ($)	Sep. 19, 2022 USD ($) $ / shares shares	Nov. 02, 2021	Jun. 30, 2023 USD ($) country $ / shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) country $ / shares shares	Jun. 30, 2022 USD ($)	Dec. 31, 2022 $ / shares
Basis of Presentation Information
Number of countries in which the entity operates | country						70		70
Common stock, par value (in dollars per share) | $ / shares						$ 2.50		$ 2.50		$ 2.50
Total number of warrants repurchased (in shares)								12,200,000
Aggregate purchase price of repurchased shares | $								$ 200
Contributions from noncontrolling interests | $						$ 11	$ 5	27	$ 5
Parent Company
Basis of Presentation Information
Pre-tax loss on deconsolidation | $			$ 114
Corebridge Financial Inc
Basis of Presentation Information
Shares issued in IPO (in shares)		648,000,000
Ownership (as a percent)				65.30%
Total AIG Shareholders' Equity
Basis of Presentation Information
Contributions from noncontrolling interests | $	$ (15)	$ (71)		$ 497		$ (86)		(86)
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%
AIG
Basis of Presentation Information
Aggregate purchase price of repurchased shares | $								$ 180
AIG | Corebridge Financial Inc
Basis of Presentation Information
Total number of warrants repurchased (in shares)								11,000,000
IPO | Corebridge Financial Inc
Basis of Presentation Information
Shares issued in IPO (in shares)		65,000,000
IPO | Corebridge Financial Inc
Basis of Presentation Information
Shares issued in IPO (in shares)		65,000,000		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
Secondary Offering | Corebridge Financial Inc
Basis of Presentation Information
Shares issued in IPO (in shares)		74,750,000
Secondary Offering | Corebridge Financial Inc
Basis of Presentation Information
Shares issued in IPO (in shares)		9,750,000
Price per share (in USD per share) | $ / shares		$ 16.25
Gross proceeds from sale of stock | $		$ 1,200
IPO And Secondary Offering | Corebridge Financial Inc
Basis of Presentation Information
Shares issued in IPO (in shares)		74,750,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	[1]	Jan. 01, 2021
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity	$ (46,491)	$ (46,306)	$ (43,454)	$ (47,225)	$ (58,666)	$ (69,034)		$ (65,935)
Accumulated Other Comprehensive Income (Loss)
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity	18,982	19,329	22,616	18,647	7,028	(5,071)
Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Stockholders' equity	$ (35,916)	$ (34,690)	$ (34,893)	$ (32,092)	$ (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)
[1]Updated to reflect the adoption of long-duration targets improvements, see Note 2.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Adjusted Balance Sheet to Apply Adopted Guidance (Details) - USD ($) $ in Millions	Jun. 30, 2023		Mar. 31, 2023	Dec. 31, 2022		Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	[2]	Jan. 01, 2021	Dec. 31, 2020
Assets:
Premiums and other receivables, net of allowance for credit losses and disputes of $160 in 2023 and $169 in 2022	$ 12,428			$ 13,243
Reinsurance assets, net of allowance for credit losses and disputes											$ 3,176
Deferred income taxes	14,103			14,804						$ 12,963
Deferred policy acquisition costs	12,702			12,857						12,955
Market risk benefit assets, at fair value	954			796						338	338
Other assets	12,832	[1]		12,384	[1]					13,520
Total assets	537,138			522,228						598,841
Liabilities:
Future policy benefits for life and accident and health insurance contracts	55,690			51,914		$ 53,844				67,364
Policyholder contract deposits	159,572			155,984		153,161				148,223
Market risk benefit liabilities, at fair value	4,977			4,736						8,739	8,739
Other policyholder funds	3,430			3,463						3,796
Other liabilities	24,496	[1]		26,757	[1]					27,520
Total liabilities	490,647			478,774						532,906
Additional paid-in capital	77,677			79,915
Retained earnings	35,916			34,893						16,437
Accumulated other comprehensive loss	(18,982)			(22,616)						11,314
Total AIG shareholders’ equity	42,454			40,970						65,098
Non-redeemable noncontrolling interests	4,037			2,484
Total equity	46,491		$ 46,306	43,454		$ 47,225	$ 58,666	$ 69,034		65,935
Total liabilities and equity	537,138			522,228						598,841
Fortitude RE
Assets:
Reinsurance assets, net of allowance for credit losses and disputes	30,541			30,751						42,244	36,801
Excluding Fortitude
Assets:
Reinsurance assets, net of allowance for credit losses and disputes	$ 39,618			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 10 for details of balances associated with variable interest entities.[2]Updated to reflect the adoption of long-duration targets improvements, see Note 2.

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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Premiums	$ 9,057	$ 7,512	$ 17,538	$ 14,632
Policy fees	694	728	1,392	1,458
Total net realized gains (losses)	(297)	2,632	(2,206)	6,211
Total revenues	13,218	13,663	24,202	28,607
Policyholder benefits and losses incurred	6,858	4,984	13,255	10,044
Change in the fair value of market risk benefits, net	(262)	(45)	(66)	(278)
Interest credited to policyholder account balances	1,062	911	2,102	1,790
Amortization of deferred policy acquisition costs	1,190	1,116	2,483	2,253
General operating and other expenses	2,268	2,206	4,248	4,370
Total benefits, losses and expenses	11,351	9,738	22,566	18,968
Income (loss) from continuing operations before income tax expense (benefit)	1,867	3,925	1,636	9,639
Income tax expense (benefit)	176	845	32	1,999
Income (loss) from continuing operations	1,691	3,080	1,604	7,640
Net income (loss)	1,691	3,079	1,604	7,639
Net income (loss) from continuing operations attributable to noncontrolling interests	198	325	81	712
Net income (loss) attributable to AIG	1,493	2,754	1,523	6,927
Net income attributable to AIG common shareholders	$ 1,485	$ 2,746	$ 1,508	$ 6,912
Income (loss) attributable to AIG common shareholders (in dollars per share)	$ 2.05	$ 3.47	$ 2.06	$ 8.60
Net income attributable to AIG common shareholders (in dollars per share)	$ 2.03	$ 3.43	$ 2.05	$ 8.50
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,691	$ 3,079	$ 1,604	$ 7,639
Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken	84	36	90	(9)
Change in unrealized appreciation (depreciation) of all other investments	(1,998)	(14,782)	2,254	(30,923)
Change in fair value of market risk benefits attributable to changes in our own credit risk	(190)	582	(115)	1,364
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts	373	1,870	(47)	4,160
Change in foreign currency translation adjustments	(59)	(335)	(87)	(341)
Other comprehensive income (loss)	(1,738)	(12,617)	2,175	(25,728)
Comprehensive income (loss)	(47)	(9,538)	3,779	(18,089)
Comprehensive income (loss) attributable to noncontrolling interests	(60)	(673)	449	(1,298)
Comprehensive income (loss) attributable to AIG	$ 13	(8,865)	$ 3,330	(16,791)
As Previously Reported
Income Statement [Abstract]
Premiums		7,516		14,626
Policy fees		742		1,506
Total net realized gains (losses)		3,392		7,811
Total revenues		14,441		30,249
Policyholder benefits and losses incurred		5,123		10,378
Change in the fair value of market risk benefits, net		0		0
Interest credited to policyholder account balances		910		1,787
Amortization of deferred policy acquisition costs		1,298		2,735
General operating and other expenses		2,223		4,404
Total benefits, losses and expenses		10,120		20,093
Income (loss) from continuing operations before income tax expense (benefit)		4,321		10,156
Income tax expense (benefit)		928		2,107
Income (loss) from continuing operations		3,393		8,049
Net income (loss)		3,392		8,048
Net income (loss) from continuing operations attributable to noncontrolling interests		356		752
Net income (loss) attributable to AIG		3,036		7,296
Net income attributable to AIG common shareholders		$ 3,028		$ 7,281
Income (loss) attributable to AIG common shareholders (in dollars per share)		$ 3.83		$ 9.06
Net income attributable to AIG common shareholders (in dollars per share)		$ 3.78		$ 8.95
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 3,392		$ 8,048
Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken		40		(5)
Change in unrealized appreciation (depreciation) of all other investments		(12,538)		(26,145)
Change in fair value of market risk benefits attributable to changes in our own credit risk		0		0
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts		0		0
Change in foreign currency translation adjustments		(281)		(286)
Other comprehensive income (loss)		(12,767)		(26,415)
Comprehensive income (loss)		(9,375)		(18,367)
Comprehensive income (loss) attributable to noncontrolling interests		(655)		(1,320)
Comprehensive income (loss) attributable to AIG		(8,720)		(17,047)
Effect of Change
Income Statement [Abstract]
Premiums		(4)		6
Policy fees		(14)		(48)
Total net realized gains (losses)		(760)		(1,600)
Total revenues		(778)		(1,642)
Policyholder benefits and losses incurred		(139)		(334)
Change in the fair value of market risk benefits, net		(45)		(278)
Interest credited to policyholder account balances		1		3
Amortization of deferred policy acquisition costs		(182)		(482)
General operating and other expenses		(17)		(34)
Total benefits, losses and expenses		(382)		(1,125)
Income (loss) from continuing operations before income tax expense (benefit)		(396)		(517)
Income tax expense (benefit)		(83)		(108)
Income (loss) from continuing operations		(313)		(409)
Net income (loss)		(313)		(409)
Net income (loss) from continuing operations attributable to noncontrolling interests		(31)		(40)
Net income (loss) attributable to AIG		(282)		(369)
Net income attributable to AIG common shareholders		$ (282)		$ (369)
Income (loss) attributable to AIG common shareholders (in dollars per share)		$ (0.36)		$ (0.46)
Net income attributable to AIG common shareholders (in dollars per share)		$ (0.35)		$ (0.45)
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ (313)		$ (409)
Change in unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken		(4)		(4)
Change in unrealized appreciation (depreciation) of all other investments		(2,244)		(4,778)
Change in fair value of market risk benefits attributable to changes in our own credit risk		582		1,364
Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts		1,870		4,160
Change in foreign currency translation adjustments		(54)		(55)
Other comprehensive income (loss)		150		687
Comprehensive income (loss)		(163)		278
Comprehensive income (loss) attributable to noncontrolling interests		(18)		22
Comprehensive income (loss) attributable to AIG		$ (145)		$ 256

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Adjusted Cash Flows to Apply Adopted Guidance (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 1,691	$ 3,079	$ 1,604	$ 7,639
Noncash revenues, expenses, gains and losses included in income (loss):
Unrealized (gains) losses in earnings - net			531	(1,332)
Change in the fair value of market risk benefits in earnings, net			(363)	(541)
Depreciation and other amortization			2,274	2,190
Changes in operating assets and liabilities:
Insurance reserves			3,573	378
Premiums and other receivables and payables - net			(940)	(7,666)
Reinsurance assets, net			(2,234)	831
Capitalization of deferred policy acquisition costs			(3,024)	(2,577)
Current and deferred income taxes - net			(339)	1,733
Other, net			(744)	(888)
Total adjustments			(493)	(7,042)
Net cash provided by operating activities			1,111	598
Cash flows from financing activities:
Policyholder contract deposits			15,920	12,491
Policyholder contract withdrawals			(12,801)	(9,467)
Net cash used in financing activities			$ (115)	(2,759)
As Previously Reported
Cash flows from operating activities:
Net income (loss)		3,392		8,048
Noncash revenues, expenses, gains and losses included in income (loss):
Unrealized (gains) losses in earnings - net				(3,238)
Change in the fair value of market risk benefits in earnings, net				0
Depreciation and other amortization				2,698
Changes in operating assets and liabilities:
Insurance reserves				1,402
Premiums and other receivables and payables - net				(7,646)
Reinsurance assets, net				20
Capitalization of deferred policy acquisition costs				(2,543)
Current and deferred income taxes - net				1,842
Other, net				(783)
Total adjustments				(7,418)
Net cash provided by operating activities				631
Cash flows from financing activities:
Policyholder contract deposits				12,457
Net cash used in financing activities				(2,793)
Effect of Change
Cash flows from operating activities:
Net income (loss)		$ (313)		(409)
Noncash revenues, expenses, gains and losses included in income (loss):
Unrealized (gains) losses in earnings - net				1,906
Change in the fair value of market risk benefits in earnings, net				(541)
Depreciation and other amortization				(508)
Changes in operating assets and liabilities:
Insurance reserves				(1,024)
Premiums and other receivables and payables - net				(20)
Reinsurance assets, net				811
Capitalization of deferred policy acquisition costs				(34)
Current and deferred income taxes - net				(109)
Other, net				(105)
Total adjustments				376
Net cash provided by operating activities				(33)
Cash flows from financing activities:
Policyholder contract deposits				34
Net cash used in financing activities				$ 34

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 13,218	$ 13,663	$ 24,202	$ 28,607
Adjusted Pre-tax Income (Loss)	1,867	3,925	1,636	9,639
Net Investment Income	3,571	2,604	7,104	5,841
Interest expense	278	266	585	529
Amortization of deferred policy acquisition costs	1,190	1,116	2,483	2,253
Changes in fair value of securities used to hedge guaranteed living benefits, Adjusted Revenues	14	13	27	27
Changes in fair value of securities used to hedge guaranteed living benefits	(3)	10	(6)	23
Change in the fair value of market risk benefits, net	262	45	66	278
Changes in benefit reserves related to net realized gains (losses)	(1)	7	5	9
Changes in the fair value of equity securities	43	(30)	94	(57)
Other income (expense) - net	(12)	(9)	(19)	(16)
Loss on extinguishment of debt	0	(299)	0	(299)
Net realized gains (losses)	(297)	2,632	(2,206)	6,211
Net realized gains, adjusted revenues	(395)	(147)	(1,167)	194
Net realized gains, adjusted pre-tax income (loss)	(390)	(140)	(1,156)	209
Net gain (loss) on divestitures and other	43	(1)	41	39
Non-operating litigation reserves and settlements, adjustment to revenue	0	4	1	38
Non-operating litigation reserves and settlements, pre-tax income (loss)	(1)	4	0	38
Favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements	18	144	37	144
Net loss reserve discount charge	(16)	(14)	(80)	6
Integration and transaction costs associated with acquiring or divesting businesses	(79)	(38)	(131)	(84)
Restructuring and other costs	(153)	(175)	(270)	(268)
Non-recurring costs related to regulatory or accounting changes	(12)	(9)	(25)	(13)
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
Pension expense related to a one-time lump sum payment to former employees	(67)	0	(67)	0
Fortitude Re funds withheld assets
Segment Reporting Information [Line Items]
Net Investment Income	291	188	737	479
Net realized gains (losses)	(138)	(86)	(169)	(226)
Fortitude Re funds withheld embedded derivative
Segment Reporting Information [Line Items]
Net realized gains (losses)	180	2,776	(985)	6,094
Total
Segment Reporting Information [Line Items]
Revenues	13,235	10,954	25,679	22,074
Adjusted Pre-tax Income (Loss)	1,890	1,543	3,533	3,267
Corporate Reconciling Items And Eliminations
Segment Reporting Information [Line Items]
Revenues	97	71	165	229
Adjusted Pre-tax Income (Loss)	(420)	(461)	(911)	(882)
Other Operations before consolidation and eliminations
Segment Reporting Information [Line Items]
Revenues	111	207	243	501
Adjusted Pre-tax Income (Loss)	(423)	(331)	(857)	(619)
Consolidation and eliminations
Segment Reporting Information [Line Items]
Revenues	(14)	(136)	(78)	(272)
Adjusted Pre-tax Income (Loss)	3	(130)	(54)	(263)
General Insurance | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	7,222	6,844	14,227	13,865
Adjusted Pre-tax Income (Loss)	1,319	1,257	2,567	2,468
General Insurance | Reportable Segments | North America
Segment Reporting Information [Line Items]
Revenues	3,195	2,972	6,175	5,761
Adjusted Pre-tax Income (Loss)	352	406	651	662
General Insurance | Reportable Segments | International
Segment Reporting Information [Line Items]
Revenues	3,302	3,414	6,581	6,881
Adjusted Pre-tax Income (Loss)	242	393	445	583
General Insurance | Reportable Segments | Net investment income
Segment Reporting Information [Line Items]
Revenues	725	458	1,471	1,223
Adjusted Pre-tax Income (Loss)	725	458	1,471	1,223
Life and Retirement | Reportable Segments
Segment Reporting Information [Line Items]
Revenues	5,916	4,039	11,287	7,980
Adjusted Pre-tax Income (Loss)	991	747	1,877	1,681
Life and Retirement | Reportable Segments | Individual Retirement
Segment Reporting Information [Line Items]
Revenues	1,578	1,267	3,062	2,614
Adjusted Pre-tax Income (Loss)	585	370	1,118	836
Life and Retirement | Reportable Segments | Group Retirement
Segment Reporting Information [Line Items]
Revenues	690	672	1,373	1,406
Adjusted Pre-tax Income (Loss)	201	180	388	421
Life and Retirement | Reportable Segments | Life Insurance
Segment Reporting Information [Line Items]
Revenues	1,280	1,314	2,529	2,625
Adjusted Pre-tax Income (Loss)	78	120	160	233
Life and Retirement | Reportable Segments | Institutional Markets
Segment Reporting Information [Line Items]
Revenues	2,368	786	4,323	1,335
Adjusted Pre-tax Income (Loss)	$ 127	$ 77	$ 211	$ 191

Held-For-Sale Classification -

Held-For-Sale Classification - Narrative (Details) - Assets held-for-sale - USD ($) shares in Millions, $ in Millions	May 22, 2023	May 02, 2023
Validus Re
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration for divestiture of business	$ 2,700
Share consideration received on transaction (in shares)	1.3
CRS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration for divestiture of business		$ 240

Held-For-Sale Classification _2

Held-For-Sale Classification - Schedule of Disposal Groups (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Assets:
Assets held for sale	$ 12,695	$ 0
Liabilities:
Liabilities held for sale	9,595	$ 0
Assets held-for-sale
Assets:
Bonds available for sale	4,568
Other invested assets	5
Restricted cash included in short-term investments	46
Short-term investments, including restricted cash of	418
Cash	191
Accrued investment income	26
Premiums and other receivables, net of allowance for credit losses and disputes	3,863
Reinsurance assets - other, net of allowance for credit losses and disputes	2,057
Deferred income taxes	75
Deferred policy acquisition costs	712
Other assets, net of allowance for credit losses(a)	780
Assets held for sale	12,695
Liabilities:
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses	4,929
Unearned premiums	3,006
Other liabilities	1,393
Long-term debt	267
Liabilities held for sale	9,595
Validus Re | Assets held-for-sale
Assets:
Bonds available for sale	4,568
Other invested assets	5
Short-term investments, including restricted cash of	389
Cash	191
Accrued investment income	26
Premiums and other receivables, net of allowance for credit losses and disputes	3,812
Reinsurance assets - other, net of allowance for credit losses and disputes	2,057
Deferred income taxes	75
Deferred policy acquisition costs	712
Other assets, net of allowance for credit losses(a)	591
Assets held for sale	12,426
Liabilities:
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses	4,929
Unearned premiums	3,006
Other liabilities	1,220
Long-term debt	267
Liabilities held for sale	9,422
Goodwill	318
Intangible assets	235
CRS | Assets held-for-sale
Assets:
Bonds available for sale	0
Other invested assets	0
Short-term investments, including restricted cash of	29
Cash	0
Accrued investment income	0
Premiums and other receivables, net of allowance for credit losses and disputes	51
Reinsurance assets - other, net of allowance for credit losses and disputes	0
Deferred income taxes	0
Deferred policy acquisition costs	0
Other assets, net of allowance for credit losses(a)	189
Assets held for sale	269
Liabilities:
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses	0
Unearned premiums	0
Other liabilities	173
Long-term debt	0
Liabilities held for sale	173
Goodwill	23
Intangible assets	$ 20

Fair Value Measurements - Asset

Fair Value Measurements - Assets and liabilities measured at fair value on a recurring basis (Details) - USD ($)		Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Jan. 01, 2021	Dec. 31, 2020
Assets:
Bonds available for sale	[1]	$ 222,530,000,000	$ 226,156,000,000
Other bond securities, at fair value (See Note 5)	[1]	4,941,000,000	4,485,000,000
Equity securities	[1]	660,000,000	575,000,000
Derivative assets		5,216,000,000	6,049,000,000
Counterparty netting		(2,826,000,000)	(3,895,000,000)
Cash Collateral		(1,980,000,000)	(1,640,000,000)
Total derivative assets		410,000,000	514,000,000
Short-term investments	[1]	10,955,000,000	12,376,000,000
Market risk benefit assets, at fair value		954,000,000	796,000,000		$ 338,000,000	$ 338,000,000
Separate account assets		89,718,000,000	84,853,000,000
Liabilities:
Policyholder contract deposits		159,572,000,000	155,984,000,000	$ 153,161,000,000	148,223,000,000
Market risk benefit liabilities, at fair value		4,977,000,000	4,736,000,000		$ 8,739,000,000	$ 8,739,000,000
Derivative liabilities		4,293,000,000	6,043,000,000
Counterparty netting		(2,826,000,000)	(3,895,000,000)
Cash Collateral		$ (1,182,000,000)	$ (1,917,000,000)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other liabilities	Other liabilities
Total derivative liabilities		$ 285,000,000	$ 231,000,000
Fortitude Re funds withheld payable		(29,588,000,000)	(30,383,000,000)
U.S. government and government sponsored entities
Assets:
Bonds available for sale		6,169,000,000	6,619,000,000
Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		11,146,000,000	12,099,000,000
Non-U.S. governments
Assets:
Bonds available for sale		12,508,000,000	13,485,000,000
Corporate debt
Assets:
Bonds available for sale		133,303,000,000	137,839,000,000
RMBS
Assets:
Bonds available for sale		18,894,000,000	18,817,000,000
CMBS
Assets:
Bonds available for sale		13,749,000,000	14,193,000,000
CLO/ABS
Assets:
Bonds available for sale		26,761,000,000	23,104,000,000
Level 3
Liabilities:
Policyholder contract deposits		1,500,000,000	1,100,000,000
Level 3 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		846,000,000	799,000,000
Level 3 | Corporate debt
Assets:
Bonds available for sale		1,570,000,000	2,527,000,000
Level 3 | RMBS
Assets:
Bonds available for sale		5,107,000,000	5,235,000,000
Level 3 | CMBS
Assets:
Bonds available for sale		533,000,000	587,000,000
Fair Value Measured at Net Asset Value Per Share
Liabilities:
Fair Value Using NAV Per Share (or its equivalent)		9,800,000,000	9,800,000,000
Recurring Basis
Assets:
Counterparty netting		(2,826,000,000)	(3,895,000,000)
Cash Collateral		(1,980,000,000)	(1,640,000,000)
Counterparty netting and cash collateral		(4,806,000,000)	(5,535,000,000)
Total derivative assets		410,000,000	514,000,000
Short-term investments		4,278,000,000	5,708,000,000
Market risk benefit assets, at fair value		954,000,000	796,000,000
Liabilities:
Policyholder contract deposits		6,864,000,000	5,408,000,000
Market risk benefit liabilities, at fair value		4,977,000,000	4,736,000,000
Counterparty netting		(2,826,000,000)	(3,895,000,000)
Cash Collateral		(1,182,000,000)	(1,917,000,000)
Counterparty netting and cash collateral		(4,008,000,000)	(5,812,000,000)
Total derivative liabilities		285,000,000	231,000,000
Fortitude Re funds withheld payable		(2,118,000,000)	(2,235,000,000)
Other liabilities		383,000,000	343,000,000
Long-term debt		50,000,000	56,000,000
Recurring Basis | Levels 1, 2 and 3
Assets:
Bonds available for sale		222,530,000,000	226,156,000,000
Other bond securities, at fair value (See Note 5)		4,941,000,000	4,485,000,000
Equity securities		660,000,000	575,000,000
Other invested assets		2,293,000,000	2,220,000,000
Short-term investments		4,278,000,000	5,708,000,000
Other assets		111,000,000	107,000,000
Separate account assets		89,718,000,000	84,853,000,000
Total(d)		324,941,000,000	324,618,000,000
Liabilities:
Policyholder contract deposits		6,864,000,000	5,408,000,000
Fortitude Re funds withheld payable		(2,118,000,000)
Fortitude Re funds withheld payable			(2,235,000,000)
Other liabilities		98,000,000	112,000,000
Long-term debt		50,000,000	56,000,000
Total		10,156,000,000	8,308,000,000
Recurring Basis | Levels 1, 2 and 3 | Discontinued Operations, Excluding Held-for-Sale
Assets:
Total(d)			5,000,000,000
Recurring Basis | Levels 1, 2 and 3 | Interest rate contracts
Assets:
Derivative assets		2,461,000,000	3,722,000,000
Liabilities:
Derivative liabilities		3,108,000,000	4,838,000,000
Recurring Basis | Levels 1, 2 and 3 | Foreign exchange contracts
Assets:
Derivative assets		1,427,000,000	1,844,000,000
Liabilities:
Derivative liabilities		799,000,000	1,138,000,000
Recurring Basis | Levels 1, 2 and 3 | Equity contracts
Assets:
Derivative assets		1,280,000,000	428,000,000
Liabilities:
Derivative liabilities		347,000,000	26,000,000
Recurring Basis | Levels 1, 2 and 3 | Commodity contracts
Assets:
Derivative assets		0	9,000,000
Recurring Basis | Levels 1, 2 and 3 | Credit contracts
Assets:
Derivative assets		33,000,000	32,000,000
Liabilities:
Derivative liabilities		39,000,000	41,000,000
Recurring Basis | Levels 1, 2 and 3 | Other contracts
Assets:
Derivative assets		15,000,000	14,000,000
Recurring Basis | Levels 1, 2 and 3 | U.S. government and government sponsored entities
Assets:
Bonds available for sale		6,169,000,000	6,619,000,000
Other bond securities, at fair value (See Note 5)		0
Recurring Basis | Levels 1, 2 and 3 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		11,146,000,000	12,099,000,000
Other bond securities, at fair value (See Note 5)		111,000,000	111,000,000
Recurring Basis | Levels 1, 2 and 3 | Non-U.S. governments
Assets:
Bonds available for sale		12,508,000,000	13,485,000,000
Other bond securities, at fair value (See Note 5)		46,000,000	66,000,000
Recurring Basis | Levels 1, 2 and 3 | Corporate debt
Assets:
Bonds available for sale		133,303,000,000	137,839,000,000
Other bond securities, at fair value (See Note 5)		2,577,000,000	2,392,000,000
Recurring Basis | Levels 1, 2 and 3 | RMBS
Assets:
Bonds available for sale		18,894,000,000	18,817,000,000
Other bond securities, at fair value (See Note 5)		358,000,000	286,000,000
Recurring Basis | Levels 1, 2 and 3 | CMBS
Assets:
Bonds available for sale		13,749,000,000	14,193,000,000
Other bond securities, at fair value (See Note 5)		309,000,000	331,000,000
Recurring Basis | Levels 1, 2 and 3 | CLO/ABS
Assets:
Bonds available for sale		26,761,000,000	23,104,000,000
Other bond securities, at fair value (See Note 5)		1,540,000,000	1,299,000,000
Recurring Basis | Level 1
Assets:
Bonds available for sale		286,000,000	183,000,000
Other bond securities, at fair value (See Note 5)		0	0
Equity securities		465,000,000	518,000,000
Other invested assets		0	0
Derivative assets		11,000,000	12,000,000
Short-term investments		1,881,000,000	2,821,000,000
Market risk benefit assets, at fair value		0	0
Other assets		0	0
Separate account assets		86,579,000,000	81,655,000,000
Total(d)		89,222,000,000	85,189,000,000
Liabilities:
Policyholder contract deposits		0	0
Market risk benefit liabilities, at fair value		0	0
Derivative liabilities		23,000,000	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		23,000,000	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		11,000,000	11,000,000
Liabilities:
Derivative liabilities		23,000,000	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		82,000,000	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		204,000,000	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		197,264,000,000	201,074,000,000
Other bond securities, at fair value (See Note 5)		3,549,000,000	2,958,000,000
Equity securities		123,000,000	18,000,000
Other invested assets		153,000,000	145,000,000
Derivative assets		4,151,000,000	5,395,000,000
Short-term investments		2,397,000,000	2,887,000,000
Market risk benefit assets, at fair value		0	0
Other assets		0	0
Separate account assets		3,139,000,000	3,198,000,000
Total(d)		210,776,000,000	215,675,000,000
Liabilities:
Policyholder contract deposits		51,000,000	41,000,000
Market risk benefit liabilities, at fair value		0	0
Derivative liabilities		4,213,000,000	5,995,000,000
Fortitude Re funds withheld payable		0
Fortitude Re funds withheld payable			0
Other liabilities		0	0
Long-term debt		50,000,000	56,000,000
Total		4,314,000,000	6,092,000,000
Recurring Basis | Level 2 | Interest rate contracts
Assets:
Derivative assets		2,122,000,000	3,410,000,000
Liabilities:
Derivative liabilities		3,108,000,000	4,838,000,000
Recurring Basis | Level 2 | Foreign exchange contracts
Assets:
Derivative assets		1,426,000,000	1,844,000,000
Liabilities:
Derivative liabilities		796,000,000	1,138,000,000
Recurring Basis | Level 2 | Equity contracts
Assets:
Derivative assets		603,000,000	132,000,000
Liabilities:
Derivative liabilities		303,000,000	10,000,000
Recurring Basis | Level 2 | Commodity contracts
Assets:
Derivative assets		0	9,000,000
Recurring Basis | Level 2 | Credit contracts
Assets:
Derivative assets		0	0
Liabilities:
Derivative liabilities		6,000,000	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		6,087,000,000	6,594,000,000
Other bond securities, at fair value (See Note 5)		0
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions
Assets:
Bonds available for sale		10,277,000,000	11,275,000,000
Other bond securities, at fair value (See Note 5)		108,000,000	111,000,000
Recurring Basis | Level 2 | Non-U.S. governments
Assets:
Bonds available for sale		12,298,000,000	13,326,000,000
Other bond securities, at fair value (See Note 5)		46,000,000	66,000,000
Recurring Basis | Level 2 | Corporate debt
Assets:
Bonds available for sale		131,582,000,000	134,992,000,000
Other bond securities, at fair value (See Note 5)		2,422,000,000	1,976,000,000
Recurring Basis | Level 2 | RMBS
Assets:
Bonds available for sale		11,277,000,000	11,264,000,000
Other bond securities, at fair value (See Note 5)		194,000,000	113,000,000
Recurring Basis | Level 2 | CMBS
Assets:
Bonds available for sale		13,196,000,000	13,267,000,000
Other bond securities, at fair value (See Note 5)		283,000,000	303,000,000
Recurring Basis | Level 2 | CLO/ABS
Assets:
Bonds available for sale		12,547,000,000	10,356,000,000
Other bond securities, at fair value (See Note 5)		496,000,000	389,000,000
Recurring Basis | Level 3
Assets:
Bonds available for sale		24,980,000,000	24,899,000,000
Other bond securities, at fair value (See Note 5)		1,392,000,000	1,527,000,000
Equity securities		72,000,000	39,000,000
Other invested assets		2,140,000,000	2,075,000,000
Derivative assets		1,054,000,000	642,000,000
Short-term investments		0	0
Market risk benefit assets, at fair value		954,000,000	796,000,000	642,000,000
Other assets		111,000,000	107,000,000
Separate account assets		0	0
Total(d)		29,749,000,000	29,289,000,000
Liabilities:
Policyholder contract deposits		6,813,000,000	5,367,000,000
Market risk benefit liabilities, at fair value		4,977,000,000	4,736,000,000	$ 5,300,000,000
Derivative liabilities		57,000,000	46,000,000
Fortitude Re funds withheld payable		(2,118,000,000)
Fortitude Re funds withheld payable			(2,235,000,000)
Other liabilities		98,000,000	112,000,000
Long-term debt		0	0
Total		9,827,000,000	8,026,000,000
Recurring Basis | Level 3 | Interest rate contracts
Assets:
Derivative assets		339,000,000	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		3,000,000	0
Recurring Basis | Level 3 | Equity contracts
Assets:
Derivative assets		666,000,000	285,000,000
Liabilities:
Derivative liabilities		21,000,000	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		15,000,000	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		869,000,000	824,000,000
Other bond securities, at fair value (See Note 5)		3,000,000	0
Recurring Basis | Level 3 | Non-U.S. governments
Assets:
Bonds available for sale		6,000,000	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		1,721,000,000	2,847,000,000
Other bond securities, at fair value (See Note 5)		155,000,000	416,000,000
Recurring Basis | Level 3 | RMBS
Assets:
Bonds available for sale		7,617,000,000	7,553,000,000
Other bond securities, at fair value (See Note 5)		164,000,000	173,000,000
Recurring Basis | Level 3 | CMBS
Assets:
Bonds available for sale		553,000,000	926,000,000
Other bond securities, at fair value (See Note 5)		26,000,000	28,000,000
Recurring Basis | Level 3 | CLO/ABS
Assets:
Bonds available for sale		14,214,000,000	12,748,000,000
Other bond securities, at fair value (See Note 5)		$ 1,044,000,000	$ 910,000,000
[1]See Note 10 for details of balances associated with variable interest entities.

Fair Value Measurements - Chang

Fair Value Measurements - Changes in level 3 recurring fair value measurements, assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 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	$ 29,326	$ 30,413	$ 28,647	$ 31,627
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	70	65	125	201
Other Comprehensive Income (Loss)	64	(1,180)	373	(2,665)
Purchases, Sales, Issuances and Settlements, Net	135	897	777	1,243
Gross Transfers In	136	786	518	2,197
Gross Transfers Out	(1,063)	(1,359)	(1,832)	(2,981)
Other	27	0	87	0
Fair Value End of Period	28,695	29,622	28,695	29,622
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(37)	156	(95)	105
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	5	(1,150)	$ 191	$ (2,583)
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	954		954		$ 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	954		954		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	954	642	$ 954	$ 642	$ 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	25,722	25,404	$ 24,899	$ 26,862
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	93	85	159	230
Other Comprehensive Income (Loss)	62	(1,159)	366	(2,638)
Purchases, Sales, Issuances and Settlements, Net	(37)	707	606	792
Gross Transfers In	131	619	504	1,865
Gross Transfers Out	(1,017)	(1,288)	(1,588)	(2,743)
Other	26	0	34	0
Fair Value End of Period	24,980	24,368	24,980	24,368
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	5	(1,150)	191	(2,583)
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	(28)	(57)	(24)	(76)
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	873	1,087	824	1,431
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	0	0	1	2
Other Comprehensive Income (Loss)	(3)	(143)	52	(428)
Purchases, Sales, Issuances and Settlements, Net	(1)	(4)	(8)	(65)
Gross Transfers In	0	17	0	17
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	869	957	869	957
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(13)	(151)	28	(410)
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	9	8	1	7
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	0	0	1	0
Other Comprehensive Income (Loss)	1	0	1	0
Purchases, Sales, Issuances and Settlements, Net	(2)	0	(2)	0
Gross Transfers In	0	1	7	2
Gross Transfers Out	(2)	0	(2)	0
Other	0	0	0	0
Fair Value End of Period	6	9	6	9
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	1	0	1	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	2,432	2,744	2,847	2,641
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	6	(15)	(96)	(26)
Other Comprehensive Income (Loss)	8	(78)	59	(151)
Purchases, Sales, Issuances and Settlements, Net	(173)	(214)	(374)	(37)
Gross Transfers In	46	252	320	382
Gross Transfers Out	(598)	(206)	(1,019)	(326)
Other	0	0	(16)	0
Fair Value End of Period	1,721	2,483	1,721	2,483
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	5	(49)	59	(137)
Bonds available for sale | RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	7,581	8,925	7,553	10,378
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	105	92	214	222
Other Comprehensive Income (Loss)	189	(390)	119	(943)
Purchases, Sales, Issuances and Settlements, Net	(211)	(266)	(201)	(874)
Gross Transfers In	31	0	31	0
Gross Transfers Out	(43)	(9)	(64)	(431)
Other	(35)	0	(35)	0
Fair Value End of Period	7,617	8,352	7,617	8,352
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	187	(390)	89	(925)
Bonds available for sale | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	938	864	926	1,190
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(29)	5	(22)	13
Other Comprehensive Income (Loss)	(39)	(46)	(42)	(113)
Purchases, Sales, Issuances and Settlements, Net	(40)	85	(39)	117
Gross Transfers In	(1)	0	33	0
Gross Transfers Out	(276)	(37)	(303)	(336)
Other	0	0	0	0
Fair Value End of Period	553	871	553	871
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(49)	(47)	(83)	(108)
Bonds available for sale | CLO/ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	13,889	11,776	12,748	11,215
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	11	3	61	19
Other Comprehensive Income (Loss)	(94)	(502)	177	(1,003)
Purchases, Sales, Issuances and Settlements, Net	390	1,106	1,230	1,651
Gross Transfers In	55	349	113	1,464
Gross Transfers Out	(98)	(1,036)	(200)	(1,650)
Other	61	0	85	0
Fair Value End of Period	14,214	11,696	14,214	11,696
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(126)	(513)	97	(1,003)
Other bond securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	1,334	2,960	1,527	2,697
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(6)	(153)	35	(274)
Other Comprehensive Income (Loss)	0	1	0	0
Purchases, Sales, Issuances and Settlements, Net	98	209	9	490
Gross Transfers In	3	167	4	285
Gross Transfers Out	(38)	(57)	(236)	(71)
Other	1	0	53	0
Fair Value End of Period	1,392	3,127	1,392	3,127
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(39)	(18)	(24)	(190)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other bond securities | 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	1		0
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	2		3
Gross Transfers In	0		0
Gross Transfers Out	0		0
Other	0		0
Fair Value End of Period	3		3
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 bond securities | Corporate debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	130	260	416	134
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	1	(4)	2	(4)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	24	47	(72)	124
Gross Transfers In	0	161	0	222
Gross Transfers Out	0	(3)	(191)	(15)
Other	0	0	0	0
Fair Value End of Period	155	461	155	461
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	3	(4)	2	(4)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other bond securities | RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	166	199	173	196
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	2	(13)	7	(18)
Other Comprehensive Income (Loss)	0	1	0	0
Purchases, Sales, Issuances and Settlements, Net	(4)	5	(16)	14
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	164	192	164	192
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(3)	(13)	(5)	(21)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other bond securities | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	27	33	28	35
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(1)	(1)	(2)	(3)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	0	0	0	0
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	26	32	26	32
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(1)	(1)	(2)	(3)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other bond securities | CLO/ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	1,010	2,468	910	2,332
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(8)	(135)	28	(249)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	76	157	94	352
Gross Transfers In	3	6	4	63
Gross Transfers Out	(38)	(54)	(45)	(56)
Other	1	0	53	0
Fair Value End of Period	1,044	2,442	1,044	2,442
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(38)	0	(19)	(162)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	74	6	39	6
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	2	0	2	0
Other Comprehensive Income (Loss)	0	1	0	0
Purchases, Sales, Issuances and Settlements, Net	2	5	29	6
Gross Transfers In	2	0	10	0
Gross Transfers Out	(8)	0	(8)	0
Other	0	0	0	0
Fair Value End of Period	72	12	72	12
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	2	0	2	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other invested assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	2,086	1,935	2,075	1,948
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	(19)	133	(71)	245
Other Comprehensive Income (Loss)	2	(23)	7	(27)
Purchases, Sales, Issuances and Settlements, Net	71	(23)	129	(38)
Gross Transfers In	0	0	0	47
Gross Transfers Out	0	(14)	0	(167)
Other	0	0	0	0
Fair Value End of Period	2,140	2,008	2,140	2,008
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	174	(73)	295
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Other invested assets | 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	0
Other assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning of Period	110	108	107	114
MRBs and Net Realized and Unrealized Gains (Losses) Included in Income	0	0	0	0
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	1	(1)	4	(7)
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	111	107	111	107
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	0	0	0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Cha_2

Fair Value Measurements - Changes in level 3 recurring fair value measurements, liabilities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Liabilities:
Fair Value Beginning of Period	$ 3,796	$ 3,815	$ 3,796	$ 3,815	$ 3,441	$ 2,648	$ 7,076	$ 11,066
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	253	(3,232)	1,784	(6,925)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	102	53	(636)	(244)
Gross Transfers In	0	(81)		(81)
Other	0	0	0	0
Fair Value End of Period	3,796	3,815	3,796	3,815
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(3)	3,336	(982)	7,526
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(15)	0	37	0
Derivative liabilities, net:
Gross Transfers Out			$ 0
Gross Transfers Out	$ 0	$ (1)		$ (1)
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Change in the fair value of market risk benefits, net	Change in the fair value of market risk benefits, net	Revenues	Change in the fair value of market risk benefits, net
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	$ 6,813	$ 4,728	$ 6,813	$ 4,728	6,064	5,367	5,035	5,572
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	429	(545)	810	(1,203)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	320	238	636	359
Gross Transfers In	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	6,813	4,728	6,813	4,728
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(308)	592	(676)	1,437
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Derivative liabilities, net:
Gross Transfers Out	0	0	0	0
Policyholder contract deposits | Net realized gains/(losses)
Liabilities:
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	429	(545)	810	(1,203)
Derivative liabilities, net
Liabilities:
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	18	89	3	372
Purchases, Sales, Issuances and Settlements, Net	(143)	(117)	(404)	(137)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	14	(92)	162	(227)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(15)	0	37	0
Derivative liabilities, net:
Fair Value Beginning of Period	(872)	(165)	(596)	(428)
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	18	89	3	372
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(143)	(117)	(404)	(137)
Gross Transfers In	0	(81)	0	(81)
Gross Transfers Out	0	(1)	0	(1)
Other	0	0	0	0
Fair Value End of Period	(997)	(275)	(997)	(275)
Derivative liabilities, net | Net realized gains/(losses)
Liabilities:
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	65	120	(23)	447
Interest rate contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	(10)	0	(10)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(21)	0	(29)	0
Derivative liabilities, net:
Fair Value Beginning of Period	(356)	(4)	(311)	0
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	27	12	84	11
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(10)	(70)	(112)	(73)
Gross Transfers In	0	(81)	0	(81)
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	(339)	(143)	(339)	(143)
Foreign exchange contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	(1)	0	(1)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	(2)	0	(2)	0
Derivative liabilities, net:
Fair Value Beginning of Period	0	0	0	(1)
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	2	1	2	1
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	0	0	0	1
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	2	1	2	1
Equity contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	(1)	(95)	131	(247)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	6	0	66	0
Derivative liabilities, net:
Fair Value Beginning of Period	(502)	(178)	(271)	(444)
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	7	89	(49)	390
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(150)	(59)	(325)	(94)
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	(1)	0	(1)
Other	0	0	0	0
Fair Value End of Period	(645)	(149)	(645)	(149)
Credit contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	0	(1)	0	(1)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	1	0	1	0
Derivative liabilities, net:
Fair Value Beginning of Period	0	31	0	30
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(1)	1	(1)	2
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	1	0	1	0
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	0	32	0	32
Other contracts
Liabilities:
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	15	15	31	32
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	1	0	1	0
Derivative liabilities, net:
Fair Value Beginning of Period	(14)	(14)	(14)	(13)
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(17)	(14)	(33)	(32)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	16	12	32	29
Gross Transfers In	0	0	0	0
Gross Transfers Out	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	(15)	(16)	(15)	(16)
Fortitude Re funds withheld payable
Liabilities:
Fair Value Beginning of Period	(2,118)	(638)	(2,118)	(638)	(1,863)	(2,235)	$ 2,206	$ 5,922
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(180)	(2,776)	985	(6,094)
Other Comprehensive Income (Loss)	0	0	0	0
Purchases, Sales, Issuances and Settlements, Net	(75)	(68)	(868)	(466)
Gross Transfers In	0	0	0	0
Other	0	0	0	0
Fair Value End of Period	(2,118)	(638)	(2,118)	(638)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period	291	2,836	(468)	6,316
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period	0	0	0	0
Derivative liabilities, net:
Gross Transfers Out	0	0	0	0
Fortitude Re funds withheld payable | Net realized gains/(losses)
Liabilities:
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(180)	$ (2,776)	985	$ (6,094)
Other Liabilities
Liabilities:
Fair Value Beginning of Period	98		98		$ 112	$ 112
MRBs and Net Realized and Unrealized (Gains) Losses Included in Income	(14)		(14)
Other Comprehensive Income (Loss)	0		0
Purchases, Sales, Issuances and Settlements, Net	0		0
Gross Transfers In	0		0
Other	0		0
Fair Value End of Period	98		98
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
Derivative liabilities, net:
Gross Transfers Out	$ 0		$ 0

Fair Value Measurements - Net r

Fair Value Measurements - Net realized and unrealized gains and losses included in income related to Level 3 assets and liabilities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	$ 70	$ 65	$ 125	$ 201
Net realized gains (losses), liabilities	$ 253	$ (3,232)	$ 1,784	$ (6,925)
Fair Value, Asset, 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, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Change in the fair value of market risk benefits, net	Change in the fair value of market risk benefits, net	Revenues	Change in the fair value of market risk benefits, net
Policyholder contract deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	$ 429	$ (545)	$ 810	$ (1,203)
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	429	(545)	810	(1,203)
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	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	(887)	(263)	(800)	(965)
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	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	(3)	(5)	(3)	(8)
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	(884)	(258)	(797)	(957)
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	0	0
Derivative liabilities, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	18	89	3	372
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	65	120	(23)	447
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	(31)	(18)	58	(47)
Derivative liabilities, net | Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(16)	(13)	(32)	(28)
Fortitude Re funds withheld payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), liabilities	(180)	(2,776)	985	(6,094)
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	(180)	(2,776)	985	(6,094)
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	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	93	85	159	230
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	121	142	183	306
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	(28)	(57)	(24)	(76)
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	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	(6)	(153)	35	(274)
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	(6)	(153)	35	(274)
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	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	2	0	2	0
Equity 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	2
Equity 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
Other invested assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net realized gains (losses), assets	(19)	133	(71)	245
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	(20)	133	(71)	245
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	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	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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Assets:
Purchases	$ 860,000,000	$ 2,087,000,000	$ 2,232,000,000	$ 3,779,000,000
Sales	(212,000,000)	(4,000,000)	(248,000,000)	(64,000,000)
Issuances and Settlements	(513,000,000)	(1,186,000,000)	(1,207,000,000)	(2,472,000,000)
Purchases, Sales, Issuances and Settlements, Net	135,000,000	897,000,000	777,000,000	1,243,000,000
Liabilities:
Purchases	(190,000,000)	(164,000,000)	(450,000,000)	(249,000,000)
Sales	406,000,000	223,000,000	737,000,000	420,000,000
Issuances and Settlements	(114,000,000)	(6,000,000)	(923,000,000)	(415,000,000)
Purchases, Sales, Issuances and Settlements, Net	102,000,000	53,000,000	(636,000,000)	(244,000,000)
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	1,000,000	(38,000,000)	8,000,000	(72,000,000)
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.	(9,000,000)	(38,000,000)	(14,000,000)	(79,000,000)
Policyholder contract deposits
Liabilities:
Purchases	0	0	0	0
Sales	402,000,000	222,000,000	728,000,000	417,000,000
Issuances and Settlements	(82,000,000)	16,000,000	(92,000,000)	(58,000,000)
Purchases, Sales, Issuances and Settlements, Net	320,000,000	238,000,000	636,000,000	359,000,000
Derivative liabilities, net
Liabilities:
Purchases	(190,000,000)	(164,000,000)	(450,000,000)	(249,000,000)
Sales	4,000,000	1,000,000	9,000,000	3,000,000
Issuances and Settlements	43,000,000	46,000,000	37,000,000	109,000,000
Purchases, Sales, Issuances and Settlements, Net	(143,000,000)	(117,000,000)	(404,000,000)	(137,000,000)
Fortitude Re funds withheld payable
Liabilities:
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances and Settlements	(75,000,000)	(68,000,000)	(868,000,000)	(466,000,000)
Purchases, Sales, Issuances and Settlements, Net	(75,000,000)	(68,000,000)	(868,000,000)	(466,000,000)
Other Liabilities
Liabilities:
Purchases, Sales, Issuances and Settlements, Net	0		0
Bonds available for sale
Assets:
Purchases	607,000,000	1,511,000,000	1,826,000,000	2,586,000,000
Sales	(216,000,000)	(4,000,000)	(248,000,000)	(64,000,000)
Issuances and Settlements	(428,000,000)	(800,000,000)	(972,000,000)	(1,730,000,000)
Purchases, Sales, Issuances and Settlements, Net	(37,000,000)	707,000,000	606,000,000	792,000,000
Bonds available for sale | Obligations of states, municipalities and political subdivisions
Assets:
Purchases	0	0	1,000,000	1,000,000
Sales	0	(4,000,000)	(4,000,000)	(64,000,000)
Issuances and Settlements	(1,000,000)	0	(5,000,000)	(2,000,000)
Purchases, Sales, Issuances and Settlements, Net	(1,000,000)	(4,000,000)	(8,000,000)	(65,000,000)
Bonds available for sale | Corporate debt
Assets:
Purchases	1,000,000	14,000,000	22,000,000	23,000,000
Sales	0	0	0	0
Issuances and Settlements	(174,000,000)	(228,000,000)	(396,000,000)	(60,000,000)
Purchases, Sales, Issuances and Settlements, Net	(173,000,000)	(214,000,000)	(374,000,000)	(37,000,000)
Bonds available for sale | RMBS
Assets:
Purchases	111,000,000	176,000,000	401,000,000	285,000,000
Sales	(42,000,000)	0	(61,000,000)	0
Issuances and Settlements	(280,000,000)	(442,000,000)	(541,000,000)	(1,159,000,000)
Purchases, Sales, Issuances and Settlements, Net	(211,000,000)	(266,000,000)	(201,000,000)	(874,000,000)
Bonds available for sale | CMBS
Assets:
Purchases	0	76,000,000	10,000,000	146,000,000
Sales	(26,000,000)	0	(32,000,000)	0
Issuances and Settlements	(14,000,000)	9,000,000	(17,000,000)	(29,000,000)
Purchases, Sales, Issuances and Settlements, Net	(40,000,000)	85,000,000	(39,000,000)	117,000,000
Bonds available for sale | CLO/ABS
Assets:
Purchases	495,000,000	1,245,000,000	1,392,000,000	2,131,000,000
Sales	(148,000,000)	0	(151,000,000)	0
Issuances and Settlements	43,000,000	(139,000,000)	(11,000,000)	(480,000,000)
Purchases, Sales, Issuances and Settlements, Net	390,000,000	1,106,000,000	1,230,000,000	1,651,000,000
Other bond securities
Assets:
Purchases	171,000,000	312,000,000	223,000,000	671,000,000
Sales	4,000,000	0	0	0
Issuances and Settlements	(77,000,000)	(103,000,000)	(214,000,000)	(181,000,000)
Purchases, Sales, Issuances and Settlements, Net	98,000,000	209,000,000	9,000,000	490,000,000
Other bond securities | Obligations of states, municipalities and political subdivisions
Assets:
Purchases	2,000,000		3,000,000
Sales	0		0
Issuances and Settlements	0		0
Purchases, Sales, Issuances and Settlements, Net	2,000,000		3,000,000
Other bond securities | Corporate debt
Assets:
Purchases	87,000,000	5,000,000	87,000,000	24,000,000
Sales	0	0	0	0
Issuances and Settlements	(63,000,000)	42,000,000	(159,000,000)	100,000,000
Purchases, Sales, Issuances and Settlements, Net	24,000,000	47,000,000	(72,000,000)	124,000,000
Other bond securities | RMBS
Assets:
Purchases	1,000,000	14,000,000	6,000,000	31,000,000
Sales	0	0	0	0
Issuances and Settlements	(5,000,000)	(9,000,000)	(22,000,000)	(17,000,000)
Purchases, Sales, Issuances and Settlements, Net	(4,000,000)	5,000,000	(16,000,000)	14,000,000
Other bond securities | CMBS
Assets:
Purchases, Sales, Issuances and Settlements, Net	0	0	0	0
Other bond securities | CLO/ABS
Assets:
Purchases	81,000,000	293,000,000	127,000,000	616,000,000
Sales	4,000,000	0	0	0
Issuances and Settlements	(9,000,000)	(136,000,000)	(33,000,000)	(264,000,000)
Purchases, Sales, Issuances and Settlements, Net	76,000,000	157,000,000	94,000,000	352,000,000
Equity securities
Assets:
Purchases	2,000,000	5,000,000	31,000,000	5,000,000
Sales	0	0	0	0
Issuances and Settlements	0	0	(2,000,000)	1,000,000
Purchases, Sales, Issuances and Settlements, Net	2,000,000	5,000,000	29,000,000	6,000,000
Other invested assets
Assets:
Purchases	80,000,000	259,000,000	152,000,000	517,000,000
Sales	0	0	0	0
Issuances and Settlements	(9,000,000)	(282,000,000)	(23,000,000)	(555,000,000)
Purchases, Sales, Issuances and Settlements, Net	71,000,000	(23,000,000)	129,000,000	(38,000,000)
Other assets
Assets:
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances and Settlements	1,000,000	(1,000,000)	4,000,000	(7,000,000)
Purchases, Sales, Issuances and Settlements, Net	$ 1,000,000	$ (1,000,000)	$ 4,000,000	$ (7,000,000)

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Details) $ in Millions		Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jan. 01, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale	[1]	$ 222,530	$ 226,156
Embedded derivatives within Policyholder contract deposits		6,900	5,400
Policyholder contract deposits		159,572	155,984	$ 153,161	$ 148,223
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		1,500	1,100
Policyholder contract deposits		1,500	1,100
Obligations of states, municipalities and political subdivisions
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 11,146	$ 12,099
Obligations of states, municipalities and political subdivisions | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0502	0.0528
Obligations of states, municipalities and political subdivisions | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0546	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		0.0524	0.0561
Obligations of states, municipalities and political subdivisions | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 846	$ 799
Corporate debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 133,303	$ 137,839
Corporate debt | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0557	0.0498
Corporate debt | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0814	0.0936
Corporate debt | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0685	0.0717
Corporate debt | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 1,570	$ 2,527
RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 18,894	$ 18,817
RMBS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0437	0.0598
RMBS | Minimum | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0476	0.0489
RMBS | Minimum | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.4440	0.4506
RMBS | Minimum | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0084	0.0082
RMBS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0840	0.0775
RMBS | Maximum | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.1021	0.1049
RMBS | Maximum | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.7742	0.7687
RMBS | Maximum | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0271	0.0272
RMBS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0626	0.0687
RMBS | Weighted-average | Constant prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0748	0.0769
RMBS | Weighted-average | Loss severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.6091	0.6097
RMBS | Weighted-average | Constant default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0177	0.0177
RMBS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 5,107	$ 5,235
CLO/ABS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0605	0.0600
CLO/ABS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0781	0.0797
CLO/ABS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0693	0.0699
CLO/ABS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 11,234	$ 7,503
CMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 13,749	$ 14,193
CMBS | Minimum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0486	0.0406
CMBS | Maximum | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.3235	0.1314
CMBS | Weighted-average | Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.1468	0.0860
CMBS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 533	$ 587
Market risk benefit assets | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input		0.0645	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(g)
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		0.5075	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(g)
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		0.0223	0.0203
Market risk benefit assets | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Bonds available for sale		$ 954	$ 796
Variable annuities guaranteed benefits | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0645	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(g)
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		0.5075	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(g)
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		0.0223	0.0203
Variable annuities guaranteed benefits | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 2,044	$ 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(g)
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(g)
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		0.0223	0.0203
Fixed annuities guaranteed benefits | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 886	$ 680
Fixed index annuities guaranteed benefits | Minimum | Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivative liability, measurement input		0.0645	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(g)
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		0.5075	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(g)
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		0.0223	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		$ 2,047	$ 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		0.0645	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(g)
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		0.5075	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(g)
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		0.0223	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		$ 5,973	$ 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		0.2082	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		0.0223	0.0203
Index life | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded derivatives within Policyholder contract deposits		$ 840	$ 710
[1]See Note 10 for details of balances associated with variable interest entities.

Fair Value Measurements - Inves

Fair Value Measurements - Investments in certain other invested assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 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)	$ 9,812	$ 9,822
Unfunded Commitments	3,656	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)	8,783	8,428
Unfunded Commitments	$ 3,656	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)	$ 3,423	3,146
Unfunded Commitments	2,185	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)	1,855	1,851
Unfunded Commitments	844	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)	269	272
Unfunded Commitments	161	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)	703	732
Unfunded Commitments	45	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)	579	598
Unfunded Commitments	149	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)	1,954	1,829
Unfunded Commitments	272	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)	1,029	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)	19	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)	670	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)	191	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)	149	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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	$ 136	$ (454)	$ 348	$ (272)
Other bond securities
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	(1)	(355)	135	(674)
Alternative investments
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	134	(167)	211	231
Long-term debt
Fair Value, Option, Quantitative Disclosures
Fair value option gain (loss)	$ 3	$ 68	$ 2	$ 171

Fair Value Measurements - Diffe

Fair Value Measurements - Difference between fair values fair value option (Details) - Fair Value Option - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair Value	$ 50	$ 56
Outstanding Principal Amount	41	45
Difference	$ 9	$ 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	6 Months Ended
		Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets	[1]	$ 16,067	$ 16,067		$ 15,953
Impairment Charges			12	$ 1
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		12	12
Total(d)		12	12		12
Impairment Charges		8	17	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(d)		36	36		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		8	17	$ 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	0
Total(d)		0	0		0
Fair value on a non-recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets					0
Other assets		0	0
Total(d)		0	0		0
Fair value on a non-recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other invested assets					12
Other assets		12	12
Total(d)		$ 12	$ 12		$ 12
[1]See Note 10 for details of balances associated with variable interest entities.

Fair Value Measurements - Carry

Fair Value Measurements - Carrying values and estimated fair values of our financial instruments not measured at fair value (Details) - USD ($) $ in Millions		Jun. 30, 2023		Dec. 31, 2022		Jun. 30, 2022	Jan. 01, 2021
Assets:
Mortgage and other loans receivable	[1]	$ 51,605		$ 49,605
Other invested assets	[1]	16,067		15,953
Short-term investments	[1]	10,955		12,376
Cash		2,283	[1]	2,043	[1]	$ 2,378
Other assets		12,832	[1]	12,384	[1]		$ 13,520
Liabilities:
Fortitude Re funds withheld payable		29,588		30,383
Other liabilities		24,496	[1]	26,757	[1]		$ 27,520
Liabilities held for sale		9,595		0
Estimated Fair Value
Assets:
Mortgage and other loans receivable		48,000		45,844
Other invested assets		859		854
Short-term investments		6,677		6,668
Cash		2,283		2,043
Other assets		37		33
Liabilities:
Policyholder contract deposits associated with investment-type contracts		136,133		129,293
Fortitude Re funds withheld payable		31,706		32,618
Other liabilities		532		3,101
Short-term and long-term debt*		19,656		19,603
Debt of consolidated investment entities		2,765		5,533
Separate account liabilities - investment contracts		85,761		80,649
Carrying Value
Assets:
Mortgage and other loans receivable		51,569		49,442
Other invested assets		858		854
Short-term investments		6,677		6,668
Cash		2,283		2,043
Other assets		37		33
Liabilities:
Policyholder contract deposits associated with investment-type contracts		139,239		137,086
Fortitude Re funds withheld payable		31,706		32,618
Other liabilities		532		3,101
Short-term and long-term debt*		21,302		21,243
Debt of consolidated investment entities		2,793		5,880
Separate account liabilities - investment contracts		85,761		80,649
Liabilities held for sale		267
Level 1 | Estimated Fair Value
Assets:
Mortgage and other loans receivable		0		0
Other invested assets		0		0
Short-term investments		0		0
Cash		2,283		2,043
Other assets		35		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		273		89
Other invested assets		853		848
Short-term investments		6,677		6,668
Cash		0		0
Other assets		2		9
Liabilities:
Policyholder contract deposits associated with investment-type contracts		106		119
Fortitude Re funds withheld payable		0		0
Other liabilities		532		3,101
Short-term and long-term debt*		19,395		19,328
Debt of consolidated investment entities		89		3,055
Separate account liabilities - investment contracts		85,761		80,649
Level 3 | Estimated Fair Value
Assets:
Mortgage and other loans receivable		47,727		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		136,027		129,174
Fortitude Re funds withheld payable		31,706		32,618
Other liabilities		0		0
Short-term and long-term debt*		261		275
Debt of consolidated investment entities		2,676		2,478
Separate account liabilities - investment contracts		$ 0		$ 0
[1]See Note 10 for details of balances associated with variable interest entities.

Investments - Amortized cost or

Investments - Amortized cost or cost and fair value of available for sale securities (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2023	Dec. 31, 2022	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 249,235	$ 255,993
Allowance for credit losses		(125)	(186)	$ (136)	$ (175)	$ (191)	$ (98)
Gross Unrealized Gains		2,311	2,222
Gross Unrealized Losses		(28,891)	(31,873)
Bonds available for sale	[1]	222,530	226,156
Non-Investment Grade
Debt Securities, Available-for-sale [Line Items]
Bonds available for sale		$ 17,800	$ 22,300
Non-Investment Grade | Credit Concentration Risk | Bonds available for sale
Debt Securities, Available-for-sale [Line Items]
Concentration risk, percentage		8%	10%
U.S. government and government sponsored entities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		$ 6,485	$ 7,094
Allowance for credit losses		0	0
Gross Unrealized Gains		17	21
Gross Unrealized Losses		(333)	(496)
Bonds available for sale		6,169	6,619
Obligations of states, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		11,982	13,195
Allowance for credit losses		0	0
Gross Unrealized Gains		107	99
Gross Unrealized Losses		(943)	(1,195)
Bonds available for sale		11,146	12,099
Non-U.S. governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		14,087	15,133
Allowance for credit losses		(11)	(6)
Gross Unrealized Gains		97	91
Gross Unrealized Losses		(1,665)	(1,733)
Bonds available for sale		12,508	13,485
Corporate debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		153,633	160,242
Allowance for credit losses		(67)	(132)
Gross Unrealized Gains		1,122	1,152
Gross Unrealized Losses		(21,385)	(23,423)
Bonds available for sale		133,303	137,839
Mortgage-backed, asset-backed and collateralized
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		63,048	60,329
Allowance for credit losses		(47)	(48)
Gross Unrealized Gains		968	859
Gross Unrealized Losses		(4,565)	(5,026)
Bonds available for sale		59,404	56,114
RMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		19,353	19,584
Allowance for credit losses		(26)	(37)
Gross Unrealized Gains		856	807
Gross Unrealized Losses		(1,289)	(1,537)
Bonds available for sale		18,894	18,817
CMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		15,258	15,610
Allowance for credit losses		(19)	(11)
Gross Unrealized Gains		13	14
Gross Unrealized Losses		(1,503)	(1,420)
Bonds available for sale		13,749	14,193
CLO/ABS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		28,437	25,135
Allowance for credit losses		(2)	0
Gross Unrealized Gains		99	38
Gross Unrealized Losses		(1,773)	(2,069)
Bonds available for sale		$ 26,761	$ 23,104
[1]See Note 10 for details of balances associated with variable interest entities.

Investments - Securities availa

Investments - Securities available for sale in a loss position (Details) $ in Millions	Jun. 30, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Fair Value
Fair Value, Less than 12 Months	$ 140,056	$ 173,000
Fair Value, 12 Months or More	48,120	23,486
Fair Value, Total	188,176	196,486
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	20,889	26,605
Gross Unrealized Losses, 12 Months or More	7,942	5,132
Gross Unrealized Losses, Total	$ 28,831	$ 31,737
Number of securities in an unrealized loss position | security	32,032	36,549
Number of individual securities in continuous unrealized loss position for longer than twelve months | security	7,063	4,048
U.S. government and government sponsored entities
Fair Value
Fair Value, Less than 12 Months	$ 5,299	$ 3,493
Fair Value, 12 Months or More	213	1,816
Fair Value, Total	5,512	5,309
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	314	368
Gross Unrealized Losses, 12 Months or More	19	128
Gross Unrealized Losses, Total	333	496
Obligations of states, municipalities and political subdivisions
Fair Value
Fair Value, Less than 12 Months	7,172	8,697
Fair Value, 12 Months or More	769	73
Fair Value, Total	7,941	8,770
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	861	1,180
Gross Unrealized Losses, 12 Months or More	82	15
Gross Unrealized Losses, Total	943	1,195
Non-U.S. governments
Fair Value
Fair Value, Less than 12 Months	10,200	10,702
Fair Value, 12 Months or More	438	779
Fair Value, Total	10,638	11,481
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	1,647	1,526
Gross Unrealized Losses, 12 Months or More	18	191
Gross Unrealized Losses, Total	1,665	1,717
Corporate debt
Fair Value
Fair Value, Less than 12 Months	88,949	110,683
Fair Value, 12 Months or More	28,260	13,778
Fair Value, Total	117,209	124,461
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	15,831	19,756
Gross Unrealized Losses, 12 Months or More	5,538	3,609
Gross Unrealized Losses, Total	21,369	23,365
RMBS
Fair Value
Fair Value, Less than 12 Months	8,305	10,953
Fair Value, 12 Months or More	3,775	1,005
Fair Value, Total	12,080	11,958
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	687	1,293
Gross Unrealized Losses, 12 Months or More	560	182
Gross Unrealized Losses, Total	1,247	1,475
CMBS
Fair Value
Fair Value, Less than 12 Months	8,162	11,620
Fair Value, 12 Months or More	4,569	1,728
Fair Value, Total	12,731	13,348
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	851	1,094
Gross Unrealized Losses, 12 Months or More	650	326
Gross Unrealized Losses, Total	1,501	1,420
CLO/ABS
Fair Value
Fair Value, Less than 12 Months	11,969	16,852
Fair Value, 12 Months or More	10,096	4,307
Fair Value, Total	22,065	21,159
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	698	1,388
Gross Unrealized Losses, 12 Months or More	1,075	681
Gross Unrealized Losses, Total	$ 1,773	$ 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		Jun. 30, 2023	Dec. 31, 2022
Amortized Cost, Net of Allowance
Due in one year or less		$ 9,123
Due after one year through five years		45,775
Due after five years through ten years		41,559
Due after ten years		89,652
Mortgage-backed, asset-backed and collateralized		63,001
Total		249,110
Fair Value
Due in one year or less		9,000
Due after one year through five years		43,487
Due after five years through ten years		37,535
Due after ten years		73,104
Mortgage-backed, asset-backed and collateralized		59,404
Total	[1]	$ 222,530	$ 226,156
[1]See Note 10 for details of balances associated with variable interest entities.

Investments - Gross realized ga

Investments - Gross realized gains and gross realized losses from sales or maturities of available for sale securities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Gross Realized Gains	$ 83	$ 186	$ 229	$ 283
Gross Realized Losses	424	790	1,022	1,026
Aggregate fair value of available for sale securities sold	5,800	9,200	16,600	14,000
Net Investment Income [Line Items]
Net realized gains (losses)	(341)	(604)	(793)	(743)
Fortitude RE Funds Withheld Assets
Net Investment Income [Line Items]
Net realized gains (losses)	$ (54)	$ (122)	$ (119)	$ (154)

Investments - Value of other se

Investments - Value of other securities measured at fair value based on election of the fair value option (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Fair Value	[1]	$ 4,941	$ 4,485
Equity securities	[1]	660	575
Fixed Maturities And Equity Securities
Debt and Equity Securities, FV-NI [Line Items]
Total		$ 5,601	$ 5,060
Fixed Maturities And Equity Securities | 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		$ 4,941	$ 4,485
Fixed maturity securities | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		88%	89%
Fixed maturity securities | U.S. government and government sponsored entities
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 0	$ 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		$ 111	$ 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		2%	2%
Fixed maturity securities | Non-U.S. governments
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 46	$ 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		$ 2,577	$ 2,392
Fixed maturity securities | Corporate debt | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		46%	47%
Fixed maturity securities | Mortgage-backed, asset-backed and collateralized
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 2,207	$ 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		39%	39%
Fixed maturity securities | RMBS
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 358	$ 286
Fixed maturity securities | RMBS | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		6%	6%
Fixed maturity securities | CMBS
Debt and Equity Securities, FV-NI [Line Items]
Fair Value		$ 309	$ 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		$ 1,540	$ 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		$ 660	$ 575
Equity securities | Investment Concentration Risk | Investments
Debt and Equity Securities, FV-NI [Line Items]
Concentration risk, percentage		12%	11%
[1]See Note 10 for details of balances associated with variable interest entities.

Investments - Carrying amounts

Investments - Carrying amounts of other invested assets (Details) - USD ($) $ in Millions		6 Months Ended	72 Months Ended
		Jun. 30, 2023	Dec. 31, 2028	Dec. 31, 2022
Investments [Line Items]
Investment real estate		$ 2,218		$ 2,153
All other investments		2,057		1,991
Other invested assets	[1]	16,067		15,953
Accumulated depreciation on investment in real estate		806		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		11,792		11,809
Hedge Funds
Investments [Line Items]
Other invested assets		$ 1,000		1,400
Percentage available for redemption		51%
Hedge Funds | Forecast
Investments [Line Items]
Percentage available for redemption			49%
Private equity funds
Investments [Line Items]
Alternative investments		$ 8,783		8,428
Other invested assets		$ 10,800		$ 10,400
[1]See Note 10 for details of balances associated with variable interest entities.

Investments - Components of net

Investments - Components of net investment income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Investment Income [Line Items]
Total investment income	$ 3,774	$ 2,777	$ 7,512	$ 6,169
Investment expenses	203	173	408	328
Net investment income	3,571	2,604	7,104	5,841
Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	3,477	2,580	6,760	5,672
Investment expenses	197	164	393	310
Net investment income	3,280	2,416	6,367	5,362
Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	297	197	752	497
Investment expenses	6	9	15	18
Net investment income	291	188	737	479
Available for sale fixed maturity securities, including short-term investments
Net Investment Income [Line Items]
Total investment income	2,861	2,414	5,650	4,756
Available for sale fixed maturity securities, including short-term investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	2,629	2,147	5,175	4,188
Available for sale fixed maturity securities, including short-term investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	232	267	475	568
Other fixed maturity securities
Net Investment Income [Line Items]
Total investment income	1	(355)	136	(674)
Gains/(losses) recognized in earnings on hedging derivatives		(55)		(151)
Other fixed maturity securities | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	8	(175)	20	(376)
Other fixed maturity securities | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	(7)	(180)	116	(298)
Equity securities
Net Investment Income [Line Items]
Total investment income	43	(30)	94	(57)
Equity securities | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	43	(30)	94	(57)
Equity securities | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	0	0	0	0
Interest on mortgage and other loans
Net Investment Income [Line Items]
Total investment income	683	511	1,309	1,010
Interest on mortgage and other loans | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	625	460	1,192	913
Interest on mortgage and other loans | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	58	51	117	97
Alternative investments
Net Investment Income [Line Items]
Total investment income	160	165	267	905
Alternative investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	147	109	223	778
Alternative investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	13	56	44	127
Real estate
Net Investment Income [Line Items]
Total investment income	17	32	20	32
Real estate | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	17	32	20	32
Real estate | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	0	0	0	0
Other investments
Net Investment Income [Line Items]
Total investment income	9	40	36	197
Gains/(losses) recognized in earnings on hedging derivatives	(1)	41	(4)	132
Other investments | Excluding Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	8	37	36	194
Other investments | Fortitude Re Funds Withheld Assets
Net Investment Income [Line Items]
Total investment income	$ 1	$ 3	$ 0	$ 3

Investments - Components of n_2

Investments - Components of net realized gains (losses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Components of net realized capital gains (losses)
Sales of fixed maturity securities	$ (341)	$ (604)	$ (793)	$ (743)
Net realized gains (losses)	(297)	2,632	(2,206)	6,211
Excluding Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized gains (losses)	(339)	(58)	(1,052)	343
Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized gains (losses)	42	2,690	(1,154)	5,868
Excluding modified coinsurance and funds withheld embedded derivative
Components of net realized capital gains (losses)
Sales of fixed maturity securities	(341)	(604)	(793)	(743)
Change in allowance for credit losses on fixed maturity securities	(58)	(48)	(74)	(141)
Foreign exchange transactions	222	(244)	352	(266)
Index-linked interest credited embedded derivatives, net of related hedges	(141)	(20)	(319)	183
All other derivatives and hedge accounting*	(61)	730	(240)	1,074
Sales of alternative investments and real estate investments	3	9	8	26
Other	(50)	3	(41)	(19)
Net realized gains (losses)	(477)	(144)	(1,221)	117
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	(51)	30	(114)	3
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	(287)	(482)	(674)	(589)
Change in allowance for credit losses on fixed maturity securities	(56)	(47)	(72)	(100)
Foreign exchange transactions	211	(229)	325	(242)
Index-linked interest credited embedded derivatives, net of related hedges	(141)	(20)	(319)	183
All other derivatives and hedge accounting*	26	682	(191)	1,082
Sales of alternative investments and real estate investments	4	7	8	23
Other	(50)	7	(41)	(19)
Net realized gains (losses)	(339)	(58)	(1,052)	343
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	(46)	24	(88)	5
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	(54)	(122)	(119)	(154)
Change in allowance for credit losses on fixed maturity securities	(2)	(1)	(2)	(41)
Foreign exchange transactions	11	(15)	27	(24)
Index-linked interest credited embedded derivatives, net of related hedges	0	0	0	0
All other derivatives and hedge accounting*	(87)	48	(49)	(8)
Sales of alternative investments and real estate investments	(1)	2	0	3
Other	0	(4)	0	0
Net realized gains (losses)	(138)	(86)	(169)	(226)
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	(5)	6	(26)	(2)
Fortitude Re funds withheld embedded derivative
Components of net realized capital gains (losses)
Net realized gains (losses)	180	2,776	(985)	6,094
Fortitude Re funds withheld embedded derivative | Excluding Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized gains (losses)	0	0	0	0
Fortitude Re funds withheld embedded derivative | Fortitude Re Funds Withheld Assets
Components of net realized capital gains (losses)
Net realized gains (losses)	$ 180	$ 2,776	$ (985)	$ 6,094

Investments - Schedule of chang

Investments - Schedule of changes in unrealized appreciation (depreciation) of available for sale securities and other investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	$ (2,279)	$ (17,904)	$ 2,726	$ (38,071)
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	230	(101)	391	347
Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period	4	(34)	158	57
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	226	(67)	233	290
Continuing Operations, Excluding Held-For-Sale
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(1,934)	(17,904)	3,071	(38,071)
Fixed maturity securities | Continuing Operations, Excluding Held-For-Sale
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments	(1,934)	(17,897)	3,071	(38,057)
Other investments | Continuing Operations, Excluding Held-For-Sale
Debt Securities, Available-for-sale [Line Items]
Increase (decrease) in unrealized appreciation (depreciation) of investments		(7)	0	(14)
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	43	(30)	94	(57)
Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period	(13)	(1)	140	93
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	56	(29)	(46)	(150)
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	187	(71)	297	404
Less: Net gains (losses) recognized during the period on equity securities and other investments sold during the period	17	(33)	18	(36)
Unrealized gains (losses) recognized during the reporting period on equity securities and other investments still held at the reporting date	$ 170	$ (38)	$ 279	$ 440

Investments - Rollforward of ch

Investments - Rollforward of changes in allowance for credit losses on available for sale fixed maturity securities by major investment category (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 136	$ 191	$ 186	$ 98
Securities for which allowance for credit losses were not previously recorded	56	30	80	207
Securities sold during the period	(18)	(41)	(29)	(42)
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	2	18	(6)	(66)
Write-offs charged against the allowance	(47)	(22)	(97)	(22)
Other	(4)	(1)	(9)	0
Balance, end of period	125	175	125	175
Structured
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	45	15	46	8
Securities for which allowance for credit losses were not previously recorded	16	2	18	51
Securities sold during the period	(2)	(1)	(3)	(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	0	10	(4)	(32)
Write-offs charged against the allowance	(10)	0	(10)	0
Other	(2)	0	0	0
Balance, end of period	47	26	47	26
Non- Structured
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	91	176	140	90
Securities for which allowance for credit losses were not previously recorded	40	28	62	156
Securities sold during the period	(16)	(40)	(26)	(41)
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	2	8	(2)	(34)
Write-offs charged against the allowance	(37)	(22)	(87)	(22)
Other	(2)	(1)	(9)	0
Balance, end of period	$ 78	$ 149	$ 78	$ 149

Investments - Pledged investmen

Investments - Pledged investments (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Fixed maturity securities available for sale	$ 542	$ 2,968
Amounts borrowed under repurchase and securities lending agreements	532	3,100
Securities pledged under repurchase agreements	542	2,968
Total carrying values of cash and securities deposited under requirements of regulatory authorities or other insurance-related arrangements	14,500	13,600
Loans	52,411	50,321
Bonds available for sale and short-term investments held in escrow	303	301
Securities collateral pledged to us	2,019	0
AIG Financial Products
Financial Instruments Owned and Pledged as Collateral [Line Items]
Loans	37,600	37,600
Asset Pledged as Collateral
Financial Instruments Owned and Pledged as Collateral [Line Items]
Fixed maturity securities available for sale	7,100	5,800
Other bond securities, at fair value	56	63
Loans	2,500	1,800
Overnight and Continuous
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	27	0
up to 30 days
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	515	2,391
31 - 90 days
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	577
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	0	20
Bonds available for sale | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	542	2,948
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	27	0
Bonds available for sale | up to 30 days | Non-U.S. governments
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	0	20
Bonds available for sale | up to 30 days | Corporate debt
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities pledged under repurchase agreements	515	2,371
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	0	577
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	$ 263	$ 239

Lending Activities - Compositio

Lending Activities - Composition of mortgages and other loans receivable (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		$ 52,411			$ 50,321
Allowance for credit losses		(38,441)			(38,351)
Mortgage and other loans receivable, net	[1]	51,605			49,605
Commercial mortgage loans
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		37,926			37,128
Allowance for credit losses		(737)	$ (525)	$ (706)	(640)	$ (533)	$ (545)
Off-balance-sheet commitments		87	$ 89		69
Loans on nonacrrual status		708			703
Accrued interest receivable		$ 171			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		18%	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		$ 7,708			6,130
Loans on nonacrrual status		6			5
Accrued interest receivable		20			15
Life insurance policy loans
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		1,762			1,758
Commercial loans, other loans and notes receivable
Composition of Mortgages and other loans receivable
Total mortgage and other loans receivable		5,015			5,305
Loans held for sale		186			170
Excluding AIGFP Operating
Composition of Mortgages and other loans receivable
Allowance for credit losses		(806)	$ (603)	$ (786)	(716)	$ (617)	$ (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)			$ (37,600)
[1]See Note 10 for details of balances associated with variable interest entities.

Lending Activities - Credit qua

Lending Activities - Credit quality of commercial mortgages (Details) $ in Millions	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 52,411	$ 50,321
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,484	6,473
Prior year	6,746	3,355
Two years prior	3,683	2,206
Three years prior	2,198	5,453
Four years prior	5,420	5,431
Five years & beyond prior	18,395	14,210
Total	$ 37,926	$ 37,128
Weighted average debt service coverage ratio	1.9	1.9
Weighted average loan-to-value ratio (as a percent)	58%	59%
Commercial mortgage loans | >90 days delinquent or in process of foreclosure(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 199	$ 215
Commercial mortgage loans | Fortitude RE Funds Withheld Assets | >90 days delinquent or in process of foreclosure(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	157	156
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	1,048	5,425
Prior year	5,172	2,548
Two years prior	2,744	1,775
Three years prior	1,956	3,958
Four years prior	3,948	3,016
Five years & beyond prior	13,155	10,739
Total	28,023	27,461
65% to 75% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	348	998
Prior year	1,210	517
Two years prior	650	405
Three years prior	76	1,445
Four years prior	1,422	1,487
Five years & beyond prior	2,852	1,393
Total	6,558	6,245
76% to 80% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	0	50
Prior year	364	52
Two years prior	52	0
Three years prior	0	0
Four years prior	0	168
Five years & beyond prior	469	229
Total	885	499
Greater than 80% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	88	0
Prior year	0	238
Two years prior	237	26
Three years prior	166	50
Four years prior	50	760
Five years & beyond prior	1,919	1,849
Total	2,460	2,923
Greater than 1.2X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,363	5,518
Prior year	5,558	2,457
Two years prior	2,531	1,710
Three years prior	1,263	4,985
Four years prior	5,190	4,120
Five years & beyond prior	14,809	11,663
Total	30,714	30,453
1.00 - 1.20X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	54	910
Prior year	1,138	898
Two years prior	1,152	473
Three years prior	912	416
Four years prior	230	567
Five years & beyond prior	1,771	1,353
Total	5,257	4,617
Less than 1.00X | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	67	45
Prior year	50	0
Two years prior	0	23
Three years prior	23	52
Four years prior	0	744
Five years & beyond prior	1,815	1,194
Total	$ 1,955	$ 2,058

Lending Activities - Credit q_2

Lending Activities - Credit quality performance indicators for commercial mortgages (Details) $ in Millions	Jun. 30, 2023 USD ($) loan	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) loan	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 52,411		$ 50,321
Allowance for credit losses	$ 38,441		$ 38,351
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	622		629
Total	$ 37,926		$ 37,128
Allowance for credit losses	$ 737	$ 706	$ 640	$ 525	$ 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	618		625
Total	$ 37,727		$ 36,913
Percent of Total	99%		99%
Commercial mortgage loans | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	0		0
Total	$ 0		$ 0
Percent of Total	0%		0%
Commercial mortgage loans | >90 days delinquent or in process of foreclosure(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Number of Loans | loan	4		4
Total	$ 199		$ 215
Percent of Total	1%		1%
Commercial mortgage loans | Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 15,282		$ 14,597
Allowance for credit losses	98		100
Commercial mortgage loans | Apartments | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	15,282		14,597
Commercial mortgage loans | Apartments | 90 days or less delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Apartments | >90 days delinquent or in process of foreclosure(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Offices
Financing Receivable, Credit Quality Indicator [Line Items]
Total	9,923		10,275
Allowance for credit losses	431		351
Commercial mortgage loans | Offices | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	9,766		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(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	157		173
Commercial mortgage loans | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,042		3,816
Allowance for credit losses	94		81
Commercial mortgage loans | Retail | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,000		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(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	42		42
Commercial mortgage loans | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,180		6,006
Allowance for credit losses	76		71
Commercial mortgage loans | Industrial | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,180		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(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Hotel
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,062		2,027
Allowance for credit losses	29		29
Commercial mortgage loans | Hotel | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,062		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(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0		0
Commercial mortgage loans | Others
Financing Receivable, Credit Quality Indicator [Line Items]
Total	437		407
Allowance for credit losses	9		8
Commercial mortgage loans | Others | In good standing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	437		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(a)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 0		$ 0

Lending Activities - Credit q_3

Lending Activities - Credit quality of residential mortgages (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 52,411	$ 50,321
Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	1,121	997
Prior year	1,406	3,016
Two years prior	2,953	852
Three years prior	855	327
Four years prior	355	120
Five years & beyond prior	1,018	818
Total	7,708	6,130
780 and greater | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	285	296
Prior year	553	2,204
Two years prior	2,317	654
Three years prior	640	232
Four years prior	241	77
Five years & beyond prior	628	567
Total	4,664	4,030
720 - 779 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	664	536
Prior year	582	728
Two years prior	540	168
Three years prior	169	76
Four years prior	80	32
Five years & beyond prior	235	169
Total	2,270	1,709
660 - 719 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	170	163
Prior year	250	80
Two years prior	88	28
Three years prior	38	16
Four years prior	26	9
Five years & beyond prior	106	62
Total	678	358
600 - 659 | Residential mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Current year	2	2
Prior year	21	4
Two years prior	7	2
Three years prior	7	2
Four years prior	6	2
Five years & beyond prior	40	14
Total	83	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	1	1
Four years prior	2	0
Five years & beyond prior	9	6
Total	$ 13	$ 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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period			$ 38,351
Reclassified to held for sale			0	$ 0
Allowance, end of period	$ 38,441		38,441
Loans modified in a troubled debt restructuring		$ 115		115
Commercial mortgage loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	706	533	640	545
Loans charged off	(6)	0	(6)	(4)
Net charge-offs	(6)	0	(6)	(4)
Addition to (release of) allowance for loan losses	37	(8)	103	(16)
Reclassified to held for sale	0	0	0	0
Allowance, end of period	737	525	737	525
Off-balance-sheet commitments	87	89	87	89	$ 69
Other loans
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	80	84	76	84
Loans charged off	0	0	0	0
Net charge-offs	0	0	0	0
Addition to (release of) allowance for loan losses	(11)	(6)	(7)	(6)
Reclassified to held for sale	0	0	0	0
Allowance, end of period	69	78	69	78
Excluding AIGFP Operating
Changes in the allowance for losses on Mortgage and other loans receivable
Allowance, beginning of period	786	617	716	629
Loans charged off	(6)	0	(6)	(4)
Net charge-offs	(6)	0	(6)	(4)
Addition to (release of) allowance for loan losses	26	(14)	96	(22)
Reclassified to held for sale	0	0
Allowance, end of period	$ 806	$ 603	$ 806	$ 603

Reinsurance - Rollforward of th

Reinsurance - Rollforward of the reinsurable allowance for credit losses before adoption (Details) - USD ($) $ in Millions	Jun. 30, 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	$ 30,541	$ 30,751	$ 42,244	36,801
Excluding Fortitude
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes	$ 39,618	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 of cost of reinsurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				416
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
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 of cost of reinsurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
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
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 of cost of reinsurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				416
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
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 of cost of reinsurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				0
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
General Insurance
Effects of Reinsurance [Line Items]
Reinsurance assets, net of allowance for credit losses and disputes				$ 5,400

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Billions	Jun. 30, 2023	Dec. 31, 2022
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 72.5	$ 71.8
Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverable (as a percent)	90%	92%
Non-Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverable (as a percent)	10%	7%
Non-Investment Grade | Captive Insurers
Effects of Reinsurance [Line Items]
Reinsurance recoverable (as a percent)	85%	77%
Not Rated
Effects of Reinsurance [Line Items]
Reinsurance recoverable (as a percent)		1%
Legacy Life And Retirement Run Off Lines Segment Member
Effects of Reinsurance [Line Items]
Ceded reserves	$ 27.5
Legacy General Insurance Run Off Lines Member
Effects of Reinsurance [Line Items]
Ceded reserves	$ 3.1
General Insurance | Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverable (as a percent)	50%	53%
Life and Retirement | Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverable (as a percent)	40%	39%
Life and Retirement | Non-Investment Grade
Effects of Reinsurance [Line Items]
Reinsurance recoverable (as a percent)		1%

Reinsurance - Summary of the co

Reinsurance - Summary of the composition of pool of assets (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2023		Jun. 30, 2022	Dec. 31, 2022		Jan. 01, 2021
Effects of Reinsurance [Line Items]
Bonds available for sale	[1]	$ 222,530			$ 226,156
Fixed maturity securities - fair value option	[1]	4,941			4,485
Loans		52,411			50,321
Investment real estate		2,218			2,153
Short-term investments	[1]	10,955			12,376
Derivative assets net, carrying value		410			514
Derivative assets, net, fair value		5,216			6,049
Other assets		12,832	[1]		12,384	[1]	$ 13,520
Total assets		537,138			522,228		$ 598,841
Carrying Value
Effects of Reinsurance [Line Items]
Short-term investments		6,677			6,668
Other assets		37			33
Hedge Funds and Private Equity Funds
Effects of Reinsurance [Line Items]
Fair Value Using NAV Per Share (or its equivalent)		11,792			11,809
Commercial mortgage loans
Effects of Reinsurance [Line Items]
Loans		37,926			37,128
Policy loans
Effects of Reinsurance [Line Items]
Loans		1,762			1,758
Fortitude Holdings
Effects of Reinsurance [Line Items]
Change in net unrealized gains (losses), gross		376		$ (6,100)
Change in net unrealized gains (losses), net of tax		297		$ (4,800)
Derivative asset, Fair value of collateral		191			192
Derivative liability, Fair value of collateral		25			28
Fortitude Holdings | Carrying Value
Effects of Reinsurance [Line Items]
Bonds available for sale		17,595			18,821
Fixed maturity securities - fair value option		4,558			4,182
Investment real estate		126			133
Short-term investments		255			75
Funds withheld investment assets		29,011			29,566
Derivative assets net, carrying value		58			90
Other assets		611			782
Total assets		29,680			30,438
Fortitude Holdings | Estimated Fair Value
Effects of Reinsurance [Line Items]
Bonds available for sale		17,595			18,821
Fixed maturity securities - fair value option		4,558			4,182
Investment real estate		302			348
Short-term investments		255			75
Funds withheld investment assets		28,919			29,511
Derivative assets, net, fair value		58			90
Other assets		611			782
Total(d)		29,588			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)		1,940			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)		1,940			1,893
Fortitude Holdings | Commercial mortgage loans | Carrying Value
Effects of Reinsurance [Line Items]
Loans		4,196			4,107
Fortitude Holdings | Commercial mortgage loans | Estimated Fair Value
Effects of Reinsurance [Line Items]
Loans, fair value		3,928			3,837
Fortitude Holdings | Policy loans | Carrying Value
Effects of Reinsurance [Line Items]
Loans		341			355
Fortitude Holdings | Policy loans | Estimated Fair Value
Effects of Reinsurance [Line Items]
Loans, fair value		$ 341			$ 355
[1]See Note 10 for details of balances associated with variable interest entities.

Reinsurance - Summary of the im

Reinsurance - Summary of the impact of funds withheld (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Effects of Reinsurance [Line Items]
Total net investment income	$ 3,571	$ 2,604	$ 7,104	$ 5,841
Total net realized gains (losses)	(297)	2,632	(2,206)	6,211
Income (loss) from continuing operations before income tax expense (benefit)	1,867	3,925	1,636	9,639
Income tax expense (benefit)	176	845	32	1,999
Net income (loss)	1,691	3,079	1,604	7,639
Change in unrealized depreciation of all other investments			(531)	1,332
Comprehensive income (loss)	(47)	(9,538)	3,779	(18,089)
Fortitude Re funds withheld assets
Effects of Reinsurance [Line Items]
Total net investment income	291	188	737	479
Fortitude Holdings
Effects of Reinsurance [Line Items]
Total net investment income	291	188	737	479
Total net realized gains (losses)	42	2,690	(1,154)	5,868
Income (loss) from continuing operations before income tax expense (benefit)	333	2,878	(417)	6,347
Income tax expense (benefit)	70	605	(88)	1,333
Net income (loss)	263	2,273	(329)	5,014
Comprehensive income (loss)	4	117	(32)	220
Fortitude Holdings | Fortitude Re funds withheld assets
Effects of Reinsurance [Line Items]
Total net realized gains (losses)	(138)	(86)	(169)	(226)
Fortitude Holdings | Fortitude Re funds withheld assets | Embedded derivatives
Effects of Reinsurance [Line Items]
Total net realized gains (losses)	180	2,776	(985)	6,094
Fortitude Holdings | Other investments
Effects of Reinsurance [Line Items]
Change in unrealized depreciation of all other investments	$ (259)	$ (2,156)	$ 297	$ (4,794)

Reinsurance - Rollforward of _2

Reinsurance - Rollforward of the reinsurance recoverable allowance for credit losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 327	$ 391	$ 344	$ 382
Addition to (release of) allowance for expected credit losses and disputes, net	(9)	(2)	(22)	7
Write-offs charged against the allowance for credit losses and disputes	0	0	(1)	(2)
Recoveries of amounts previously written off	0	2	0	2
Other changes	2	0	(1)	2
Balance, end of period	320	391	320	391
General Insurance
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	253	286	260	281
Addition to (release of) allowance for expected credit losses and disputes, net	(1)	(4)	(4)	1
Write-offs charged against the allowance for credit losses and disputes	0	0	(1)	(2)
Recoveries of amounts previously written off	0	2	0	2
Other changes	2	0	(1)	2
Balance, end of period	254	284	254	284
Life and Retirement
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	74	105	84	101
Addition to (release of) allowance for expected credit losses and disputes, net	(8)	2	(18)	6
Write-offs charged against the allowance for credit losses and disputes	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Other changes	0	0	0	0
Balance, end of period	$ 66	$ 107	$ 66	$ 107

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs - Rollforward of LDTI and DSI Adoption Adjustments (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost	$ 12,702	$ 12,857	$ 13,118	$ 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	4,683	4,597	4,592	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	1,056	1,060	1,068	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	4,910	4,839	4,832	4,904
General Insurance
Summary of Significant Accounting Policies [Line Items]
Deferred acquisition cost	$ 1,996	$ 2,310	$ 2,585	$ 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	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 12,857	$ 13,001
Capitalization	3,024	2,577
Amortization expense	(2,483)	(2,253)
Other, including foreign exchange*	(696)	(207)
Balance, end of year	12,702	13,118
Assets held-for-sale
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Other, including foreign exchange*	712
General Insurance
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	2,310	2,428
Capitalization	2,385	2,046
Amortization expense	(1,965)	(1,759)
Other, including foreign exchange*	(734)	(130)
Balance, end of year	1,996	2,585
Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	4,597	4,553
Capitalization	358	281
Amortization expense	(272)	(242)
Other, including foreign exchange*	0	0
Balance, end of year	4,683	4,592
Group Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	1,060	1,078
Capitalization	37	29
Amortization expense	(41)	(39)
Other, including foreign exchange*	0	0
Balance, end of year	1,056	1,068
Life Insurance
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	4,839	4,904
Capitalization	234	215
Amortization expense	(201)	(210)
Other, including foreign exchange*	38	(77)
Balance, end of year	4,910	4,832
Institutional Markets
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	51	38
Capitalization	10	6
Amortization expense	(4)	(3)
Other, including foreign exchange*	0	0
Balance, end of year	$ 57	$ 41

Deferred Policy Acquisition C_5

Deferred Policy Acquisition Costs - Rollforward of DSI (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 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	$ 12,702		$ 12,857	$ 12,955
Other assets, excluding DSI	12,300	$ 13,000			$ 12,800
Deferred Sale Inducements
Summary of Significant Accounting Policies [Line Items]
Balance, beginning of year	558	619
Capitalization	5	4
Amortization expense	(34)	(33)
Balance, end of period	529	590
Deferred Sale Inducements | Individual Retirement
Summary of Significant Accounting Policies [Line Items]
Balance, beginning of year	381	428
Capitalization	4	4
Amortization expense	(27)	(26)
Balance, end of period	358	406
Deferred Sale Inducements | Group Retirement
Summary of Significant Accounting Policies [Line Items]
Balance, beginning of year	177	191
Capitalization	1	0
Amortization expense	(7)	(7)
Balance, end of period	$ 171	$ 184

Variable Interest Entities - Co

Variable Interest Entities - Consolidated VIEs (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2023		Dec. 31, 2022		Jun. 30, 2022	Jan. 01, 2021
Assets:
Bonds available for sale	[1]	$ 222,530		$ 226,156
Other bond securities, at fair value (See Note 5)	[1]	4,941		4,485
Equity securities	[1]	660		575
Mortgage and other loans receivable	[1]	51,605		49,605
Investment real estate		2,218		2,153
Short-term investments	[1]	10,955		12,376
Cash		2,283	[1]	2,043	[1]	$ 2,378
Accrued investment income	[1]	2,506		2,376
Other assets		12,832	[1]	12,384	[1]		$ 13,520
Total assets		537,138		522,228			598,841
Liabilities:
Other		24,496	[1]	26,757	[1]		27,520
Total liabilities		490,647		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		236		3,672
Equity securities		34		51
Mortgage and other loans receivable		2,139		2,221
Alternative investments		2,860		2,842
Investment real estate		1,784		1,731
Short-term investments		325		472
Cash		99		71
Accrued investment income		16		9
Other assets		131		172
Total assets		7,624		11,241
Liabilities:
Debt of consolidated investment entities		2,607		5,694
Other		125		132
Total liabilities		2,732		5,826
Consolidated VIE | Real Estate and Investment Entities
Assets:
Bonds available for sale		0		0
Equity securities		34		51
Mortgage and other loans receivable		0		0
Alternative investments		2,860		2,842
Investment real estate		1,784		1,731
Short-term investments		292		191
Cash		99		71
Accrued investment income		0		0
Other assets		130		102
Total assets		5,199		4,988
Liabilities:
Debt of consolidated investment entities		1,410		1,358
Other		102		85
Total liabilities		1,512		1,443
Consolidated VIE | Securitization Vehicles(e)
Assets:
Bonds available for sale		236		3,672
Equity securities		0		0
Mortgage and other loans receivable		2,139		2,221
Alternative investments		0		0
Investment real estate		0		0
Short-term investments		33		281
Cash		0		0
Accrued investment income		16		9
Other assets		1		70
Total assets		2,425		6,253
Liabilities:
Debt of consolidated investment entities		1,197		4,336
Other		23		47
Total liabilities		1,220		4,383
Unconsolidated VIE
Assets:
Total assets		514,824		505,521
Liabilities:
Off-balance sheet exposure associated with VIEs		4,574		$ 4,685
Unconsolidated VIE | Securitization Vehicles(e)
Assets:
Total assets		3,600
Liabilities:
Total liabilities		3,100
Pre-tax loss on deconsolidation		$ 14
[1]See Note 10 for details of balances associated with variable interest entities.

Variable Interest Entities - Un

Variable Interest Entities - Unconsolidated VIEs (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022	Jan. 01, 2021
VARIABLE INTEREST ENTITY
Total assets		$ 537,138	$ 522,228	$ 598,841
Other invested assets	[1]	16,067	15,953
Unconsolidated VIE
VARIABLE INTEREST ENTITY
Total assets		514,824	505,521
Maximum exposure to loss, On-Balance Sheet		9,376	9,392
Maximum exposure to loss, Off-Balance Sheet		4,574	4,685
Total		13,950	14,077
Other invested assets		9,300	9,300
Unconsolidated VIE | AIG Financial Products
VARIABLE INTEREST ENTITY
Total assets		1,986	2,057
Maximum exposure to loss, Off-Balance Sheet		1,959	2,033
Unconsolidated VIE | Real Estate and Investment Entities
VARIABLE INTEREST ENTITY
Total assets		513,797	504,219
Maximum exposure to loss, On-Balance Sheet		9,318	9,145
Maximum exposure to loss, Off-Balance Sheet		3,826	3,938
Total		13,144	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 10 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	Jun. 30, 2023	Dec. 31, 2022	Jan. 01, 2021
VARIABLE INTEREST ENTITY
Total assets	$ 537,138	$ 522,228	$ 598,841
Unconsolidated VIE
VARIABLE INTEREST ENTITY
Total assets	514,824	505,521
Exposure to loss	13,950	14,077
Off-balance sheet exposure associated with VIEs	4,574	4,685
Unconsolidated VIE | AIG Financial Products
VARIABLE INTEREST ENTITY
Total assets	1,986	2,057
Off-balance sheet exposure associated with VIEs	$ 1,959	$ 2,033

Derivatives and Hedge Account_3

Derivatives and Hedge Accounting - Notional amounts and fair values of derivative instruments (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Gross Derivative Assets
Notional Amount	$ 134,364	$ 133,721
Fair Value	5,216	6,049
Counterparty netting	(2,826)	(3,895)
Cash Collateral	(1,980)	(1,640)
Total derivative assets	410	514
Gross Derivative Liabilities
Notional Amount	55,691	56,805
Fair Value	4,293	6,043
Counterparty netting	(2,826)	(3,895)
Cash Collateral	(1,182)	(1,917)
Total derivative liabilities on consolidated balance sheet	285	231
Bifurcated embedded derivatives assets, fair value	2,100	2,200
Bifurcated embedded derivative liabilities, fair value	6,900	5,400
Derivatives designated as hedging instruments | Interest rate contracts
Gross Derivative Assets
Notional Amount	642	251
Fair Value	210	355
Gross Derivative Liabilities
Notional Amount	1,428	1,688
Fair Value	38	66
Derivatives designated as hedging instruments | Foreign exchange contracts
Gross Derivative Assets
Notional Amount	4,978	4,543
Fair Value	530	642
Gross Derivative Liabilities
Notional Amount	3,752	4,899
Fair Value	275	317
Derivatives not designated as hedging instruments | Interest rate contracts
Gross Derivative Assets
Notional Amount	35,331	39,833
Fair Value	2,251	3,367
Gross Derivative Liabilities
Notional Amount	30,855	34,128
Fair Value	3,070	4,772
Derivatives not designated as hedging instruments | Foreign exchange contracts
Gross Derivative Assets
Notional Amount	9,968	8,626
Fair Value	897	1,202
Gross Derivative Liabilities
Notional Amount	10,077	10,397
Fair Value	524	821
Derivatives not designated as hedging instruments | Equity contracts
Gross Derivative Assets
Notional Amount	35,621	31,264
Fair Value	1,280	428
Gross Derivative Liabilities
Notional Amount	9,042	4,740
Fair Value	347	26
Derivatives not designated as hedging instruments | Commodity contracts
Gross Derivative Assets
Notional Amount	0	212
Fair Value	0	9
Gross Derivative Liabilities
Notional Amount	0	20
Fair Value	0	0
Derivatives not designated as hedging instruments | Credit contracts
Gross Derivative Assets
Notional Amount	1,807	1,808
Fair Value	33	32
Gross Derivative Liabilities
Notional Amount	537	933
Fair Value	39	41
Derivatives not designated as hedging instruments | Credit contracts | CDS
Gross Derivative Liabilities
Notional Amount	53	79
Fair Value	32	32
Derivatives not designated as hedging instruments | Other contracts
Gross Derivative Assets
Notional Amount	46,017	47,184
Fair Value	15	14
Gross Derivative Liabilities
Notional Amount	0	0
Fair Value	$ 0	$ 0

Derivatives and Hedge Account_4

Derivatives and Hedge Accounting - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Credit derivatives:
Collateral posted	$ 2,200		$ 2,200		$ 2,900
Collateral obtained from third parties for derivative transactions	2,400		2,400		2,000
Foreign currency translation gain (loss) adjustment related to net investment hedge relationships	(8)	$ 220	(33)	$ 307
Par value of hybrid securities	42		42		42
Maximum
Credit derivatives:
Fair value of hybrid securities	1		1		1
Credit Risk Related Contingent Features
Credit derivatives:
Collateral posted	33		33		34
Additional collateral postings and termination payments	6		6
Aggregate fair value of net liability position	$ 33		$ 33		$ 32

Derivatives and Hedge Account_5

Derivatives and Hedge Accounting - Fair value hedging relationships (Details) - Derivatives designated as hedging instruments - Fair value hedging - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest rate contracts | Interest credited to policyholder account balances
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	$ (7)	$ (7)	$ 36	$ (28)
Gains/(losses) recognized in earnings for excluded components	1	0	1	0
Gains/(losses) recognized in earnings for hedged items	(3)	8	(50)	31
Net Impact	(9)	1	(13)	3
Interest rate contracts | Net investment income
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	0	0	0	1
Gains/(losses) recognized in earnings for excluded components	0	0	0	0
Gains/(losses) recognized in earnings for hedged items	0	0	0	(1)
Net Impact	0	0	0	0
Foreign exchange contracts
Derivative instruments gain (loss):
Gains/(losses) recognized in earnings on hedging derivatives	(314)	325	(444)	434
Gains/(losses) recognized in earnings for excluded components	121	98	197	140
Gains/(losses) recognized in earnings for hedged items	314	(325)	444	(434)
Net Impact	$ 121	$ 98	$ 197	$ 140

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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (634)	$ 3,282	$ (2,244)	$ 6,693
Policy fees
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	17	15	33	30
Net investment income - excluding Fortitude Re funds withheld assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total			$ 0	$ 2
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	0	0	$ (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	(120)	659	$ (511)	$ 1,266
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	93	2,824	$ (1,034)	$ 6,086
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)	$ 0	$ (14)
Change in the fair value of market risk benefits
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(621)	(212)	(730)	(677)
Net investment income - excluding Fortitude Re funds withheld assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total		3
Interest rate contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(179)	(869)	(84)	(1,482)
Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(220)	730	(321)	966
Equity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	3	78	(75)	(126)
Commodity contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	1	(3)	8	(7)
Credit contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total			(1)	(1)
Other contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	17	13	33	31
Embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (256)	$ 3,333	$ (1,804)	$ 7,312

Insurance Liabilities - Narrati

Insurance Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jan. 20, 2017
Liability for Future Policy Benefit, by Product Segment [Line Items]
Contractual deductible recoverable amount	$ 12,400		$ 12,400		$ 12,100
Collateral held for deductible recoverable amounts	8,800		8,800		8,600
Liability for unpaid losses and loss adjustment expenses, allowance for credit losses	14		14		14
Prior years, excluding discount and amortization of deferred gain	107	$ 374	134	$ 425
Net loss reserve discount	1,294		$ 1,294		1,278
Tabular discount rate (as a percent)			45%
Workers compensation tabular discount amount	324		$ 324		314
Workers compensation non tabular discount amount	970		970		$ 964
Net loss reserve discount charge	(16)	(14)	$ (80)	6
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	$ 19	$ (34)	$ 72	4
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			$ 13	$ 8

Insurance Liabilities - Liabili

Insurance Liabilities - Liability for unpaid losses and loss adjustment expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reconciliation of activity in the Liability for unpaid claims and claims adjustment expense:
Liability for unpaid loss and loss adjustment expenses, beginning of period	$ 75,793	$ 78,183	$ 75,167	$ 79,026
Reinsurance recoverable	(32,366)	(34,321)	(32,102)	(35,213)
Net Liability for unpaid loss and loss adjustment expenses, beginning of period	43,427	43,862	43,065	43,813
Losses and loss adjustment expenses incurred:
Current year	3,945	3,765	7,729	7,647
Prior years, excluding discount and amortization of deferred gain	(107)	(374)	(134)	(425)
Prior years, discount charge (benefit)	54	38	148	42
Prior years, amortization of deferred gain on retroactive reinsurance	(25)	28	(85)	(14)
Total losses and loss adjustment expenses incurred	3,867	3,457	7,658	7,250
Losses and loss adjustment expenses paid:
Current year	(881)	(834)	(1,170)	(1,157)
Prior years	(2,994)	(2,729)	(6,543)	(6,171)
Total losses and loss adjustment expenses paid	(3,875)	(3,563)	(7,713)	(7,328)
Other changes:
Foreign exchange effect	(25)	(800)	372	(796)
Retroactive reinsurance adjustment (net of discount)	47	200	59	217
Reclassified to held for sale, net of reinsurance recoverables	(3,383)		(3,383)
Total other changes	(3,361)	(600)	(2,952)	(579)
Net liability for unpaid losses and loss adjustment expenses	40,058	43,156	40,058	43,156
Reinsurance recoverable(c)	30,226	33,583	30,226	33,583
Total	70,284	76,739	70,284	76,739
Change in discount on loss reserves ceded under retroactive reinsurance	26	18	96	57
Disposal Group, Including Discontinued Operation, Assets
Other changes:
Reinsurance recoverable(c)		1,500		1,500
National Indemnity Company
Losses and loss adjustment expenses incurred:
Prior years, amortization of deferred gain on retroactive reinsurance	$ 6	$ 6	$ 13	$ 10

Insurance Liabilities - Discoun

Insurance Liabilities - Discounting of reserves (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Discounting of Reserves [Line Items]
U.S. workers' compensation	$ 2,452,000,000		$ 2,532,000,000
Retroactive reinsurance	(1,158,000,000)		(1,254,000,000)
Total reserve discount	1,294,000,000		1,278,000,000
Fortitude RE
Discounting of Reserves [Line Items]
Total reserve discount	$ 748,000,000		763,000,000
Discount ceded on sale (as a percent)	100%	100%
United Kingdom
Discounting of Reserves [Line Items]
Total reserve discount	$ 143,000,000		$ 135,000,000

Insurance Liabilities - Net los

Insurance Liabilities - Net loss reserve discount benefit (charge) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Loss Reserve Discount Benefit (Charge) [Line Items]
Current accident year	$ 38	$ 24	$ 68	$ 48
Accretion and other adjustments to prior year discount	(54)	(38)	(148)	(42)
Net reserve discount benefit (charge)	(16)	(14)	(80)	6
Change in discount on loss reserves ceded under retroactive reinsurance	26	18	96	57
Net change in total reserve discount	10	4	16	63
United Kingdom
Net Loss Reserve Discount Benefit (Charge) [Line Items]
Net change in total reserve discount	$ 4	$ (7)	$ 8	$ (5)

Insurance Liabilities - Future

Insurance Liabilities - Future Policy Benefits (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits	$ 61,539	$ 57,886	$ 57,681	$ 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	1,311	1,223	1,228	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	210	211	225	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	21,657	21,179	22,500	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	15,752	12,464	11,518	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	$ 20,453	20,429	$ 22,210	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	6 Months Ended
	Jun. 30, 2023	Jun. 30, 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			(10)	(4)
Adjusted beginning of year balance	16,764	14,783
Issuances	733	728
Interest accrual	258	224
Net premium collected	(895)	(772)
Foreign exchange impact	118	(479)
Other	10	0
Ending balance at original discount rate	16,988	14,484
Effect of changes in discount rate assumptions (AOCI)	(2,295)	(1,190)
Balance, end of period	14,693	13,294
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			28	(37)
Adjusted beginning of year balance	65,586	61,205
Issuances	4,156	1,548
Interest accrual	1,320	1,293
Benefit payments	(2,403)	(2,110)
Foreign exchange impact	423	(928)
Other	(1)	(99)
Ending balance at original discount rate	69,081	60,909
Effect of changes in discount rate assumptions (AOCI)	(7,542)	(3,228)
Ending balance	61,539	57,681
Net liability for future policy benefits, end of period	46,846	44,387
Liability for future policy benefits for certain participating contracts	1,329	1,373
Liability for universal life policies with secondary guarantees and similar features	3,458	3,663
Deferred profit liability	2,451	2,199
Other reconciling items	1,606	2,222
Future policy benefits for life and accident and health insurance contracts	55,690	53,844	51,914		$ 67,364
Less: Reinsurance recoverable:	(23,765)	(26,677)
Net liability for future policy benefits after reinsurance recoverable	31,925	27,167
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			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	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			(1)	(7)
Adjusted beginning of year balance	1,389	1,271
Issuances	120	102
Interest accrual	25	20
Benefit payments	(65)	(56)
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	1,469	1,337
Effect of changes in discount rate assumptions (AOCI)	(158)	(109)
Ending balance	1,311	1,228
Net liability for future policy benefits, end of period	$ 1,311	$ 1,228
Weighted average liability duration of the liability for future policy benefits (in years)	7 years 9 months 18 days	7 years 8 months 12 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			0	(1)
Adjusted beginning of year balance	213	217
Issuances	6	7
Interest accrual	5	4
Benefit payments	(13)	(13)
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	211	215
Effect of changes in discount rate assumptions (AOCI)	(1)	10
Ending balance	210	225
Net liability for future policy benefits, end of period	$ 210	$ 225
Weighted average liability duration of the liability for future policy benefits (in years)	6 years 10 months 24 days	7 years 2 months 12 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			10	(8)
Adjusted beginning of year balance	13,536	13,655
Issuances	666	728
Interest accrual	214	199
Net premium collected	(719)	(710)
Foreign exchange impact	206	(479)
Other	10	0
Ending balance at original discount rate	13,913	13,393
Effect of changes in discount rate assumptions (AOCI)	(1,904)	(1,174)
Balance, end of period	12,009	12,219
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			36	(6)
Adjusted beginning of year balance	24,639	24,719
Issuances	656	726
Interest accrual	450	439
Benefit payments	(943)	(905)
Foreign exchange impact	236	(610)
Other	5	(1)
Ending balance at original discount rate	25,043	24,368
Effect of changes in discount rate assumptions (AOCI)	(3,386)	(1,868)
Ending balance	21,657	22,500
Net liability for future policy benefits, end of period	$ 9,648	$ 10,281
Weighted average liability duration of the liability for future policy benefits (in years)	12 years 6 months	12 years 8 months 12 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			17	(5)
Adjusted beginning of year balance	15,115	13,015
Issuances	3,301	708
Interest accrual	301	215
Benefit payments	(521)	(390)
Foreign exchange impact	308	(318)
Other	0	0
Ending balance at original discount rate	18,504	13,230
Effect of changes in discount rate assumptions (AOCI)	(2,752)	(1,712)
Ending balance	15,752	11,518
Net liability for future policy benefits, end of period	$ 15,752	$ 11,518
Weighted average liability duration of the liability for future policy benefits (in years)	11 years 7 months 6 days	11 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			6	4
Adjusted beginning of year balance	1,063	1,128
Issuances	0	0
Interest accrual	23	25
Net premium collected	(59)	(62)
Foreign exchange impact	0	0
Other	0	0
Ending balance at original discount rate	1,027	1,091
Effect of changes in discount rate assumptions (AOCI)	(61)	(16)
Balance, end of period	966	1,075
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			(8)	$ (18)
Adjusted beginning of year balance	21,504	21,983
Issuances	3	5
Interest accrual	513	615
Benefit payments	(739)	(746)
Foreign exchange impact	0	0
Other	(6)	(98)
Ending balance at original discount rate	21,275	21,759
Effect of changes in discount rate assumptions (AOCI)	(822)	451
Ending balance	20,453	22,210
Net liability for future policy benefits, end of period	$ 19,487	$ 21,135
Weighted average liability duration of the liability for future policy benefits (in years)	11 years 6 months	12 years
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			(26)
Adjusted beginning of year balance	2,165
Issuances	67
Interest accrual	21
Net premium collected	(117)
Foreign exchange impact	(88)
Other	0
Ending balance at original discount rate	2,048
Effect of changes in discount rate assumptions (AOCI)	(330)
Balance, end of period	1,718
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			$ (16)
Adjusted beginning of year balance	2,726
Issuances	70
Interest accrual	26
Benefit payments	(122)
Foreign exchange impact	(121)
Other	0
Ending balance at original discount rate	2,579
Effect of changes in discount rate assumptions (AOCI)	(423)
Ending balance	2,156
Net liability for future policy benefits, end of period	$ 438
Weighted average liability duration of the liability for future policy benefits (in years)	9 years 10 months 24 days

Insurance Liabilities - Expecte

Insurance Liabilities - Expected future benefits, expenses, and gross premiums (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
General Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefits and expense	$ 3,165	$ 3,421
Undiscounted expected future gross premiums	4,383	4,494
Discounted expected future gross premiums (at current discount rate)	3,109	3,533
Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefits and expense	2,115	1,835
Undiscounted expected future gross premiums	0	0
Discounted expected future gross premiums (at current discount rate)	0	0
Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefits and expense	316	328
Undiscounted expected future gross premiums	0	0
Discounted expected future gross premiums (at current discount rate)	0	0
Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefits and expense	39,848	38,406
Undiscounted expected future gross premiums	29,792	28,810
Discounted expected future gross premiums (at current discount rate)	19,207	19,704
Institutional Markets
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefits and expense	33,474	21,092
Undiscounted expected future gross premiums	0	0
Discounted expected future gross premiums (at current discount rate)	0	0
Other Operations
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefits and expense	43,791	45,258
Undiscounted expected future gross premiums	2,179	2,346
Discounted expected future gross premiums (at current discount rate)	$ 1,435	$ 1,602

Insurance Liabilities - Income

Insurance Liabilities - Income statement information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	$ 2,774	$ 1,363	$ 5,160	$ 2,401
Interest accretion	543	584	1,061	1,073
Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	284	293	593	595
Interest accretion	33	31	62	66
General Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	137	155	232	252
Interest accretion	3	3	4	4
Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	61	57	136	108
Interest accretion	13	10	25	20
Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	4	5	10	13
Interest accretion	2	1	5	4
Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	600	586	1,175	1,168
Interest accretion	118	119	236	240
Life Insurance | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	274	284	573	576
Interest accretion	33	31	61	65
Institutional Markets
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	1,919	503	3,500	747
Interest accretion	162	110	301	215
Other Operations before consolidation and eliminations | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	10	9	20	19
Interest accretion	0	0	1	1
Legacy Insurance Lines Segment
Liability for Future Policy Benefit, Activity [Line Items]
Gross premiums	53	57	107	113
Interest accretion	$ 245	$ 341	$ 490	$ 590

Insurance Liabilities - Weighte

Insurance Liabilities - Weighted-average interest rates (Details)	Jun. 30, 2023	Jun. 30, 2022
General Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	1.81%	1.67%
Weighted-average interest rate, current discount rate	3.59%	2.68%
Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	3.73%	3.37%
Weighted-average interest rate, current discount rate	5.27%	4.61%
Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	5.14%	5.20%
Weighted-average interest rate, current discount rate	5.26%	4.58%
Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	4.09%	4.15%
Weighted-average interest rate, current discount rate	5.27%	4.62%
Life Insurance | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, current discount rate	3.77%	3.75%
Institutional Markets
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	3.95%	3.30%
Weighted-average interest rate, current discount rate	5.34%	4.52%
Other Operations before consolidation and eliminations
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, original discount rate	4.88%	4.84%
Weighted-average interest rate, current discount rate	5.25%	4.72%
Other Operations before consolidation and eliminations | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest rate, current discount rate	4.20%	4.20%

Insurance Liabilities - Schedul

Insurance Liabilities - Schedule of liabilities by product (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 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	$ 55,690	$ 53,844	$ 51,914		$ 67,364
Effect of changes in cash flow assumptions			0	$ 0
Effect of actual variances from expected experience			(10)	(4)
Adjusted beginning of year balance			16,764	14,783
Issuances	733	728
Interest accrual	258	224
Other	10	0
Less: Reinsurance recoverable:	(23,765)	(26,677)
Net liability for future policy benefits after reinsurance recoverable	31,925	27,167
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	3,458	3,663	3,355	5,007		$ 5,172
Effect of actual variances from expected experience			148	192
Adjusted beginning of year balance			3,503	5,199
Assessments	342	345
Excess benefits paid	(457)	(496)
Interest accrual	62	66
Other	(3)	(5)
Changes related to unrealized appreciation (depreciation) of investments	11	(1,446)
Less: Reinsurance recoverable:	(172)	(209)
Net liability for future policy benefits after reinsurance recoverable	3,286	3,454
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			10	(8)
Adjusted beginning of year balance			13,536	13,655
Issuances	666	728
Interest accrual	214	199
Other	$ 10	$ 0
Weighted average liability duration of the liability for future policy benefits (in years)	12 years 6 months	12 years 8 months 12 days
Life Insurance | Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits for life and accident and health insurance contracts	$ 3,402	$ 3,608	3,300	4,952		5,117
Effect of actual variances from expected experience			149	194
Adjusted beginning of year balance			3,449	5,146
Assessments	341	344
Excess benefits paid	(457)	(496)
Interest accrual	61	65
Other	(3)	(5)
Changes related to unrealized appreciation (depreciation) of investments	11	(1,446)
Less: Reinsurance recoverable:	(172)	(209)
Net liability for future policy benefits after reinsurance recoverable	$ 3,230	$ 3,399
Weighted average liability duration of the liability for future policy benefits (in years)	26 years 2 months 12 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			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 9 months 18 days	7 years 8 months 12 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)	6 years 10 months 24 days	7 years 2 months 12 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			6	4
Adjusted beginning of year balance			1,063	1,128
Issuances	$ 0	$ 0
Interest accrual	23	25
Other	$ 0	$ 0
Weighted average liability duration of the liability for future policy benefits (in years)	11 years 6 months	12 years
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	$ 56	$ 55	55	55		55
Effect of actual variances from expected experience			(1)	(2)
Adjusted beginning of year balance			$ 54	$ 53
Assessments	1	1
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	$ 56	$ 55
Weighted average liability duration of the liability for future policy benefits (in years)	9 years 2 months 12 days	9 years 8 months 12 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	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Liabilities for Guarantees on Long-Duration Contracts [Line Items]
Account value	$ 3,604		$ 3,406
Net amount at risk	$ 70,850		$ 66,889
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	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Policyholder Account Balance [Line Items]
Policyholder contract deposits	$ 161,319	$ 158,494	$ 155,853	$ 152,809	$ 148,422
Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder contract deposits	91,890	89,554	87,207	84,097	79,203
Group Retirement
Policyholder Account Balance [Line Items]
Policyholder contract deposits	42,474	43,395	43,892	43,902	43,229
Life Insurance
Policyholder Account Balance [Line Items]
Policyholder contract deposits	10,203	10,224	10,195	10,183	10,286
Institutional Markets
Policyholder Account Balance [Line Items]
Policyholder contract deposits	13,294	11,734	10,858	10,804	11,559
Other Operations before consolidation and eliminations
Policyholder Account Balance [Line Items]
Policyholder contract deposits	$ 3,458	$ 3,587	$ 3,701	$ 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	6 Months Ended
	Jun. 30, 2023	Jun. 30, 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	13,934	10,909
Policy charges	(1,529)	(1,503)
Surrenders and withdrawals	(11,149)	(6,896)
Benefit payments	(3,646)	(3,525)
Net transfers from (to) separate account	3,331	2,241
Interest credited	1,908	1,843
Other	(24)	(25)
Policyholder Contract Deposits Account Balance, end of period	161,319	155,853
Other reconciling items	(1,747)	(2,692)
Legacy insurance lines ceded to Fortitude Re	159,572	153,161	$ 155,984	$ 148,223
Cash surrender value(c)	140,260	137,599
Individual Retirement
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	89,554	84,097
Issuances	8,898	7,547
Policy charges	(462)	(395)
Surrenders and withdrawals	(6,585)	(4,008)
Benefit payments	(2,012)	(1,996)
Net transfers from (to) separate account	1,637	1,074
Interest credited	863	882
Other	(3)	6
Policyholder Contract Deposits Account Balance, end of period	91,890	87,207
Other reconciling items	(1,598)	(2,245)
Legacy insurance lines ceded to Fortitude Re	$ 90,292	$ 84,962
Weighted average crediting rate	2.59%	2.38%
Cash surrender value(c)	$ 85,417	$ 81,207
Group Retirement
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	43,395	43,902
Issuances	2,597	2,341
Policy charges	(238)	(259)
Surrenders and withdrawals	(3,979)	(2,726)
Benefit payments	(1,080)	(1,072)
Net transfers from (to) separate account	1,221	1,155
Interest credited	554	550
Other	4	1
Policyholder Contract Deposits Account Balance, end of period	42,474	43,892
Other reconciling items	(254)	(353)
Legacy insurance lines ceded to Fortitude Re	$ 42,220	$ 43,539
Weighted average crediting rate	2.84%	2.72%
Cash surrender value(c)	$ 41,550	$ 43,094
Life Insurance
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	10,224	10,183
Issuances	809	835
Policy charges	(764)	(782)
Surrenders and withdrawals	(122)	(103)
Benefit payments	(100)	(119)
Net transfers from (to) separate account	0	(2)
Interest credited	188	193
Other	(32)	(10)
Policyholder Contract Deposits Account Balance, end of period	10,203	10,195
Other reconciling items	135	(60)
Legacy insurance lines ceded to Fortitude Re	$ 10,338	$ 10,135
Weighted average crediting rate	4.30%	4.25%
Cash surrender value(c)	$ 8,976	$ 8,935
Institutional Markets
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	11,734	10,804
Issuances	1,608	162
Policy charges	(34)	(34)
Surrenders and withdrawals	(421)	(27)
Benefit payments	(283)	(160)
Net transfers from (to) separate account	473	14
Interest credited	218	128
Other	(1)	(29)
Policyholder Contract Deposits Account Balance, end of period	13,294	10,858
Other reconciling items	42	43
Legacy insurance lines ceded to Fortitude Re	$ 13,336	$ 10,901
Weighted average crediting rate	3.54%	2.40%
Cash surrender value(c)	$ 2,555	$ 2,524
Other Operations before consolidation and eliminations
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance, beginning of year	3,587	3,823
Issuances	22	24
Policy charges	(31)	(33)
Surrenders and withdrawals	(42)	(32)
Benefit payments	(171)	(178)
Net transfers from (to) separate account	0	0
Interest credited	85	90
Other	8	7
Policyholder Contract Deposits Account Balance, end of period	3,458	3,701
Other reconciling items	(72)	(77)
Legacy insurance lines ceded to Fortitude Re	$ 3,386	$ 3,624
Weighted average crediting rate	4.95%	4.90%
Cash surrender value(c)	$ 1,762	$ 1,839

Insurance Liabilities - Account

Insurance Liabilities - Account balances by guaranteed minimum interest rates (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 101,902	$ 103,226
Account balance percentage	100%	100%
At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 58,748	$ 70,515
Account balance percentage	58%	68%
1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 8,075	$ 4,816
Account balance percentage	8%	5%
More than 50 Basis Points Above Minimum Guarantee
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 35,079	$ 27,895
Account balance percentage	34%	27%
Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder Account Balance	$ 56,699	$ 56,442
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	33,231	31,943
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,241	5,991
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	9,574	10,014
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	7,167	7,980
Individual Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	450	476
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	27,626	33,034
Individual Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	7,044	10,300
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	4,151	4,300
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	8,831	9,995
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	7,122	7,934
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	446	471
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	2,463	1,841
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	2,390	1,775
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	23	25
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	11	1
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	39	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	26,610	21,567
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	23,797	19,868
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	2,067	1,666
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	732	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	37,914	39,299
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	10,974	10,208
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 1% To 2%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,065	6,727
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	13,274	14,556
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	651	696
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	6,799	6,953
Group Retirement | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	151	159
Group Retirement | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder Account Balance	26,792	32,491
Group Retirement | At Guaranteed Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range Less Than 1%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,018	3,817
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	4,050	6,310
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	13,123	14,556
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	651	696
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	6,799	6,953
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	151	159
Group Retirement | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder Account Balance	4,287	2,127
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	2,574	1,717
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	1,624	410
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	89	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	6,835	4,681
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	6,382	4,674
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	391	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	62	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	7,289	7,485
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	481	479
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 2% To 3%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,965	1,986
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 3% To 4%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,713	1,770
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 4% To 5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	2,909	3,024
Life Insurance | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range From 5% To 5.5%
Policyholder Account Balance [Line Items]
Policyholder Account Balance	221	226
Life Insurance | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder Account Balance	4,330	4,990
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	105
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	10	240
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	1,190	1,395
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	2,909	3,024
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	221	226
Life Insurance | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder Account Balance	1,325	848
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	872	638
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	322	186
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	0
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	1,634	1,647
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	350	350
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	1,083	1,108
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	201	189
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	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jan. 01, 2021
Other Policyholder Funds Rollforward [Roll Forward]
Balance, beginning of year	$ 1,834	$ 1,811
Revenue deferred	76	70
Amortization	(61)	(60)
Balance, end of period	1,849	1,821
Aggregate carrying amount in the Condensed Consolidated Balance Sheets	3,430		$ 3,463	$ 3,796
Life Insurance
Other Policyholder Funds Rollforward [Roll Forward]
Balance, beginning of year	1,727	1,693
Revenue deferred	76	70
Amortization	(55)	(54)
Balance, end of period	1,748	1,709
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	(5)	(6)
Balance, end of period	100	110
Other Operations before consolidation and eliminations | Fortitude RE
Other Policyholder Funds Rollforward [Roll Forward]
Balance, end of period	$ 1,600	$ 1,700

Market Risk Benefits - Balances

Market Risk Benefits - Balances and changes in market risk benefits (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Market Risk Benefit [Line Items]
Market risk benefit	$ 4,102	$ 4,034	$ 4,770	$ 7,034		$ 8,401
Market risk benefit in an asset position						176
Reinsured market risk benefit						162
Market risk benefit assets, at fair value	954	796			$ 338	338
Market risk benefit liabilities, at fair value	4,977	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	3,826	3,738	4,398	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	$ 276	$ 296	$ 372	$ 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	6 Months Ended
	Jun. 30, 2023	Jun. 30, 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	398	108
Interest accrual	86	94
Attributed fees	475	446
Expected claims	(49)	(29)
Effect of changes in interest rates	37	(3,134)
Effect of changes in interest rate volatility	(88)	192
Effect of changes in equity markets	(921)	1,694
Effect of changes in equity index volatility	4	(46)
Actual outcome different from model expected outcome	105	143
Effect of changes in other future expected assumptions	(123)
Other, including foreign exchange	(2)	(6)
Balance, end of period, before effect of changes in our own credit risk	3,491	4,395
Effect of changes in our own credit risk	611	375
Balance, end of period	4,102	4,770
Less: Reinsured MRB, end of period	(79)	(110)
Net	4,023	4,660
Combined
Net amount at risk
Net amount at risk	1,458	2,063
GMDB
Net amount at risk
Net amount at risk	1,280	2,224
GMWB
Net amount at risk
Net amount at risk	60	63
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	379	97
Interest accrual	78	83
Attributed fees	442	409
Expected claims	(48)	(28)
Effect of changes in interest rates	34	(2,864)
Effect of changes in interest rate volatility	(84)	180
Effect of changes in equity markets	(843)	1,558
Effect of changes in equity index volatility	8	(42)
Actual outcome different from model expected outcome	93	130
Effect of changes in other future expected assumptions	(94)
Other, including foreign exchange	0	2
Balance, end of period, before effect of changes in our own credit risk	3,262	4,043
Effect of changes in our own credit risk	564	355
Balance, end of period	3,826	4,398
Less: Reinsured MRB, end of period	(79)	(110)
Net	$ 3,747	$ 4,288
Net amount at risk
Average attained age of contract holders by product	70 years	70 years
Individual Retirement | Combined
Net amount at risk
Net amount at risk	$ 1,435	$ 2,052
Individual Retirement | GMDB
Net amount at risk
Net amount at risk	1,068	1,828
Individual Retirement | GMWB
Net amount at risk
Net amount at risk	56	58
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	19	11
Interest accrual	8	11
Attributed fees	33	37
Expected claims	(1)	(1)
Effect of changes in interest rates	3	(270)
Effect of changes in interest rate volatility	(4)	12
Effect of changes in equity markets	(78)	136
Effect of changes in equity index volatility	(4)	(4)
Actual outcome different from model expected outcome	12	13
Effect of changes in other future expected assumptions	(29)
Other, including foreign exchange	(2)	(8)
Balance, end of period, before effect of changes in our own credit risk	229	352
Effect of changes in our own credit risk	47	20
Balance, end of period	276	372
Less: Reinsured MRB, end of period	0	0
Net	$ 276	$ 372
Net amount at risk
Average attained age of contract holders by product	64 years	64 years
Group Retirement | Combined
Net amount at risk
Net amount at risk	$ 23	$ 11
Group Retirement | GMDB
Net amount at risk
Net amount at risk	212	396
Group Retirement | GMWB
Net amount at risk
Net amount at risk	$ 4	$ 5

Market Risk Benefits - Schedule

Market Risk Benefits - Schedule of market risk benefits (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
Market Risk Benefit [Line Items]
Asset	$ 954	$ 642
Liability	4,977	5,302
Net	4,023	4,660
Individual Retirement
Market Risk Benefit [Line Items]
Asset	787	527
Liability	4,534	4,815
Net	3,747	4,288
Group Retirement
Market Risk Benefit [Line Items]
Asset	167	115
Liability	443	487
Net	$ 276	$ 372

Separate Account Assets and L_3

Separate Account Assets and Liabilities - Separate account assets (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Separate Account Investment [Line Items]
Value of investment options	$ 89,718	$ 86,735
Equity Funds | Equity Funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	54,100	49,488
Bond Funds | Bond funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	8,747	9,301
Balanced Funds | Balanced funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	25,217	26,358
Money Market Funds | Money market funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	1,654	1,588
Individual Retirement
Fair Value, Separate Account Investment [Line Items]
Value of investment options	47,409	46,262
Individual Retirement | Equity Funds | Equity Funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	24,804	23,012
Individual Retirement | Bond Funds | Bond funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	3,974	3,887
Individual Retirement | Balanced Funds | Balanced funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	17,911	18,684
Individual Retirement | Money Market Funds | Money market funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	720	679
Group Retirement
Fair Value, Separate Account Investment [Line Items]
Value of investment options	37,245	34,902
Group Retirement | Equity Funds | Equity Funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	27,889	25,210
Group Retirement | Bond Funds | Bond funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	3,428	4,010
Group Retirement | Balanced Funds | Balanced funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	5,375	5,181
Group Retirement | Money Market Funds | Money market funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	553	501
Life Insurance
Fair Value, Separate Account Investment [Line Items]
Value of investment options	888	807
Life Insurance | Equity Funds | Equity Funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	777	690
Life Insurance | Bond Funds | Bond funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	43	46
Life Insurance | Balanced Funds | Balanced funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	51	49
Life Insurance | Money Market Funds | Money market funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	17	22
Institutional Markets
Fair Value, Separate Account Investment [Line Items]
Value of investment options	4,176	4,764
Institutional Markets | Equity Funds | Equity Funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	630	576
Institutional Markets | Bond Funds | Bond funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	1,302	1,358
Institutional Markets | Balanced Funds | Balanced funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	1,880	2,444
Institutional Markets | Money Market Funds | Money market funds
Fair Value, Separate Account Investment [Line Items]
Value of investment options	$ 364	$ 386

Separate Account Assets and L_4

Separate Account Assets and Liabilities - Separate account liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Separate Account, Liability [Roll Forward]
Balance, beginning of year	$ 84,853	$ 109,111
Premiums and deposits	1,552	2,274
Policy charges	(955)	(965)
Surrenders and withdrawals	(3,600)	(3,106)
Benefit payments	(743)	(775)
Investment performance	8,600	(19,660)
Net transfers from (to) general account	10	(146)
Other charges	1	2
Balance, end of period	89,718	86,735
Cash surrender value	88,389	85,411
Individual Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	45,178	57,927
Premiums and deposits	807	1,354
Policy charges	(662)	(646)
Surrenders and withdrawals	(1,776)	(1,741)
Benefit payments	(432)	(476)
Investment performance	4,172	(10,249)
Net transfers from (to) general account	122	93
Other charges	0	0
Balance, end of period	47,409	46,262
Cash surrender value	46,307	45,154
Group Retirement
Separate Account, Liability [Roll Forward]
Balance, beginning of year	34,361	45,138
Premiums and deposits	697	868
Policy charges	(221)	(244)
Surrenders and withdrawals	(1,390)	(1,329)
Benefit payments	(250)	(283)
Investment performance	4,169	(8,987)
Net transfers from (to) general account	(121)	(261)
Other charges	0	0
Balance, end of period	37,245	34,902
Cash surrender value	37,050	34,699
Life Insurance
Separate Account, Liability [Roll Forward]
Balance, beginning of year	799	1,044
Premiums and deposits	18	19
Policy charges	(25)	(25)
Surrenders and withdrawals	(12)	(11)
Benefit payments	(3)	(4)
Investment performance	113	(216)
Net transfers from (to) general account	(2)	0
Other charges	0	0
Balance, end of period	888	807
Cash surrender value	854	792
Institutional Markets
Separate Account, Liability [Roll Forward]
Balance, beginning of year	4,515	5,002
Premiums and deposits	30	33
Policy charges	(47)	(50)
Surrenders and withdrawals	(422)	(25)
Benefit payments	(58)	(12)
Investment performance	146	(208)
Net transfers from (to) general account	11	22
Other charges	1	2
Balance, end of period	4,176	4,764
Cash surrender value	$ 4,178	$ 4,766

Contingencies, Commitments an_2

Contingencies, Commitments and Guarantees (Details) - USD ($)	6 Months Ended
	Jun. 30, 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	4,700,000,000	$ 6,600,000,000
Affiliated Entity
Other Commitments [Line Items]
Contractual obligation	$ 99,000,000

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)				1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 09, 2023	Jun. 12, 2023	Mar. 14, 2019	Jul. 26, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Aug. 07, 2023	Jul. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)					$ 5		$ 5				$ 5
Common stock, par value (in dollars per share)					$ 2.50		$ 2.50				$ 2.50
Shares purchased (in shares)							21,400,000
Aggregate repurchases of common stock					$ 562,000,000	$ 1,699,000,000	$ 1,165,000,000	$ 3,102,000,000
Dividends declared, preferred stock (in dollars per share)					$ 365.625	$ 365.625	$ 731.25	$ 731.25
Corebridge Financial Inc
Class of Stock [Line Items]
Shares sold in secondary offering (in shares)		648,000,000
Secondary Offering | Corebridge Financial Inc
Class of Stock [Line Items]
Shares sold in secondary offering (in shares)		74,750,000
IPO | Corebridge Financial Inc
Class of Stock [Line Items]
Shares sold in secondary offering (in shares)		65,000,000
Underwriter's Option | Corebridge Financial Inc
Class of Stock [Line Items]
Shares sold in secondary offering (in shares)		9,750,000
Subsequent event
Class of Stock [Line Items]
Authorized repurchase amount										$ 7,500,000,000
Shares purchased (in shares)				6,000,000
Aggregate repurchases of common stock				$ 336,000,000
Dividends declared, common stock (in dollars per share)	$ 0.36
Dividends declared, preferred stock (in dollars per share)	$ 365.625
Remaining authorized repurchase amount									$ 2,150,000,000
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			$ 485,000,000
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)	6 Months Ended
	Jun. 30, 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)	4,800,000
Shares repurchased (in shares)	(21,400,000)
Shares issued, end of period (in shares)	1,906,671,492
Treasury stock, end of period (in shares)	(1,189,147,491)
Shares outstanding, end of period (in shares)	717,500,000
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued, beginning of year (in shares)	1,906,700,000
Shares issued (in shares)	0
Shares repurchased (in shares)	0
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)	4,800,000
Shares repurchased (in shares)	(21,400,000)
Treasury stock, end of period (in shares)	(1,189,200,000)

Equity - Schedule of accumulate

Equity - Schedule of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ 46,306	$ 58,666	$ 43,454	$ 69,034	[1]
Change in unrealized appreciation (depreciation) of investments*	(2,279)	(17,904)	2,726	(38,071)
Change in other	(159)	(4)	(53)	11
Change in fair value of market risk benefits, net	(241)	737	(146)	1,728
Change in discount rates	531	2,352	4	5,235
Change in future policy benefits	137	640	37	1,435
Change in foreign currency translation adjustments	(25)	(273)	(44)	(276)
Change in net actuarial loss	78	5	105	16
Change in prior service cost	2	4	2	5
Change in deferred tax asset (liability)	218	1,830	(456)	4,193
Change in fair value of liabilities under fair value option attributable to changes in our own credit risk		(4)		(4)
Other comprehensive income (loss)	(1,738)	(12,617)	2,175	(25,728)
Corebridge noncontrolling interests sale	1,827		1,827
Balance, end of period	46,491	47,225	46,491	47,225
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(19,329)	(7,028)	(22,616)	5,071	[1]
Other comprehensive income (loss)	(1,480)	(11,619)	1,807	(23,718)
Balance, end of period	(18,982)	(18,647)	(18,982)	(18,647)
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	(134)	(88)	(136)	(48)
Balance, end of period	(60)	(56)	(60)	(56)
Unrealized Appreciation (Depreciation) of All Other Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(17,129)	(2,690)	(20,675)	12,125
Balance, end of period	(16,655)	(16,248)	(16,655)	(16,248)
Change in Fair Value of Market Risk Benefits Attributable to Changes in Our Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(226)	(791)	(284)	(1,496)
Other comprehensive income (loss)	(190)	582	(115)	1,364
Balance, end of period	(315)	(267)	(315)	(267)
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	2,150	(99)	2,459	(2,167)
Other comprehensive income (loss)	373	1,870	(47)	4,160
Balance, end of period	2,067	1,590	2,067	1,590
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(3,094)	(2,472)	(3,056)	(2,446)
Balance, end of period	(3,174)	(2,790)	(3,174)	(2,790)
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(896)	(894)	(924)	(903)
Balance, end of period	(845)	(878)	(845)	(878)
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Our Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	0	6	0	6
Balance, end of period	0	2	0	2
Noncontrolling interests
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	(258)	(998)	368	(2,010)
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	14	4	18	(1)
Unrealized Appreciation (Depreciation) of All Other Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	(347)	(1,224)	359	(2,550)
Change in Fair Value of Market Risk Benefits Attributable to Changes in Our Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	(47)	58	(30)	135
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	181	0	403
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	11	(17)	21	3
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	0	0	0	0
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Our Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Noncontrolling interests	0	0	0	0
Change in Fair Value of Market Risk Benefits Attributable to Changes in 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	(241)	737	(146)	1,728
Change in deferred tax asset (liability)	51	(155)	31	(364)
Other comprehensive income (loss)	(190)	582	(115)	1,364
Corebridge noncontrolling interests sale	54		54
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	531	2,352	4	5,235
Change in deferred tax asset (liability)	(158)	(482)	(51)	(1,075)
Other comprehensive income (loss)	373	1,870	(47)	4,160
Corebridge noncontrolling interests sale	(345)		(345)
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*	104	45	113	(12)
Change in other	0	(1)	0	(1)
Change in deferred tax asset (liability)	(20)	(8)	(23)	4
Other comprehensive income (loss)	84	36	90	(9)
Corebridge noncontrolling interests sale	4		4
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*	(2,383)	(17,949)	2,613	(38,059)
Change in other	(159)	(3)	(53)	12
Change in future policy benefits	137	640	37	1,435
Change in deferred tax asset (liability)	407	2,530	(343)	5,689
Other comprehensive income (loss)	(1,998)	(14,782)	2,254	(30,923)
Corebridge noncontrolling interests sale	2,125		2,125
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in foreign currency translation adjustments	(25)	(273)	(44)	(276)
Change in deferred tax asset (liability)	(34)	(62)	(43)	(65)
Other comprehensive income (loss)	(59)	(335)	(87)	(341)
Corebridge noncontrolling interests sale	(10)		(10)
Retirement Plan Liabilities Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in net actuarial loss	78	5	105	16
Change in prior service cost	2	4	2	5
Change in deferred tax asset (liability)	(28)	7	(27)	4
Other comprehensive income (loss)	52	16	80	25
Corebridge noncontrolling interests sale	(1)		(1)
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Our Own Credit Risk
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in fair value of liabilities under fair value option attributable to changes in our own credit risk		(4)		(4)
Other comprehensive income (loss)	$ 0	$ (4)	$ 0	$ (4)
[1]Updated to reflect the adoption of long-duration targets improvements, see Note 2.

Equity - Schedule of other comp

Equity - Schedule of other comprehensive income (loss) reclassification adjustments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Comprehensive Income (Loss) Reclassification Adjustments
Other comprehensive income (loss)	$ (1,738)	$ (12,617)	$ 2,175	$ (25,728)
Noncontrolling interests
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(2,305)	(15,058)	1,821	(30,679)
Less: Reclassification adjustments included in net income	(349)	(611)	(810)	(758)
Total other comprehensive income (loss), before of income tax expense (benefit)	(1,956)	(14,447)	2,631	(29,921)
Less: Income tax expense (benefit)	(218)	(1,830)	456	(4,193)
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	97	36	90	(21)
Less: Reclassification adjustments included in net income	(7)	(8)	(23)	(8)
Total other comprehensive income (loss), before of income tax expense (benefit)	104	44	113	(13)
Less: Income tax expense (benefit)	20	8	23	(4)
Other comprehensive income (loss)	84	36	90	(9)
Unrealized Appreciation (Depreciation) of All Other Investments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(2,739)	(17,908)	1,827	(37,347)
Less: Reclassification adjustments included in net income	(334)	(596)	(770)	(735)
Total other comprehensive income (loss), before of income tax expense (benefit)	(2,405)	(17,312)	2,597	(36,612)
Less: Income tax expense (benefit)	(407)	(2,530)	343	(5,689)
Other comprehensive income (loss)	(1,998)	(14,782)	2,254	(30,923)
Change in Fair Value of Market Risk Benefits Attributable to Changes in Our Own Credit Risk
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(241)	737	(146)	1,728
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before of income tax expense (benefit)	(241)	737	(146)	1,728
Less: Income tax expense (benefit)	(51)	155	(31)	364
Other comprehensive income (loss)	(190)	582	(115)	1,364
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	531	2,352	4	5,235
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before of income tax expense (benefit)	531	2,352	4	5,235
Less: Income tax expense (benefit)	158	482	51	1,075
Other comprehensive income (loss)	373	1,870	(47)	4,160
Foreign Currency Translation Adjustments
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	(25)	(273)	(44)	(276)
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before of income tax expense (benefit)	(25)	(273)	(44)	(276)
Less: Income tax expense (benefit)	34	62	43	65
Other comprehensive income (loss)	(59)	(335)	(87)	(341)
Retirement Plan Liabilities Adjustment
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	72	2	90	6
Less: Reclassification adjustments included in net income	(8)	(7)	(17)	(15)
Total other comprehensive income (loss), before of income tax expense (benefit)	80	9	107	21
Less: Income tax expense (benefit)	28	(7)	27	(4)
Other comprehensive income (loss)	52	16	80	25
Fair Value of Liabilities Under Fair Value Option Attributable to Changes in Our Own Credit Risk
Other Comprehensive Income (Loss) Reclassification Adjustments
Unrealized change arising during period	0	(4)	0	(4)
Less: Reclassification adjustments included in net income	0	0	0	0
Total other comprehensive income (loss), before of income tax expense (benefit)	0	(4)	0	(4)
Less: Income tax expense (benefit)	0	0	0	0
Other comprehensive income (loss)	$ 0	$ (4)	$ 0	$ (4)

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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification of significant items out of Accumulated Other Comprehensive Income
Total net realized gains (losses)	$ (297)	$ 2,632	$ (2,206)	$ 6,211
Net income (loss) attributable to AIG	1,493	2,754	1,523	6,927
Amount Reclassified from AOCI
Reclassification of significant items out of Accumulated Other Comprehensive Income
Net income (loss) attributable to AIG	(349)	(611)	(810)	(758)
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)	(7)	(8)	(23)	(8)
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)	(334)	(596)	(770)	(735)
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)	(8)	(7)	(17)	(15)
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)	$ (16)	$ (14)

Equity - Schedule of noncontrol

Equity - Schedule of noncontrolling interest (Details) - USD ($) $ in Millions				3 Months Ended		6 Months Ended
	Jun. 26, 2023	Jun. 12, 2023	Sep. 19, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Noncontrolling Interest [Line Items]
Net income attributable to AIG common shareholders				$ 1,485	$ 2,746	$ 1,508	$ 6,912
Contributions from noncontrolling interests				11	$ 5	27	$ 5
Total AIG Shareholders' Equity
Noncontrolling Interest [Line Items]
Net income attributable to AIG common shareholders				1,485		1,508
Contributions from noncontrolling interests	$ (15)	$ (71)	$ 497	(86)		(86)
Change from Net income attributable to AIG common shareholders and changes in AIG's ownership interests				$ 1,399		$ 1,422

Earnings Per Common Share (EP_3

Earnings Per Common Share (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator for EPS:
Income from continuing operations	$ 1,691	$ 3,080	$ 1,604	$ 7,640
Less: Net income from continuing operations attributable to noncontrolling interests	198	325	81	712
Less: Preferred stock dividends	8	8	15	15
Income attributable to AIG common shareholders from continuing operations	1,485	2,747	1,508	6,913
Income (loss) from discontinued operations, net of income tax expense	0	(1)	0	(1)
Net income attributable to AIG common shareholders	$ 1,485	$ 2,746	$ 1,508	$ 6,912
Denominator for EPS:
Weighted average common shares outstanding - basic (in shares)	725,754,549	790,897,301	732,175,533	803,532,447
Dilutive common shares (in shares)	4,792,563	9,833,445	5,115,161	9,765,891
Weighted average common shares outstanding - diluted (in shares)	730,547,112	800,730,746	737,290,694	813,298,338
Basic:
Income (loss) from continuing operations (in dollars per share)	$ 2.05	$ 3.47	$ 2.06	$ 8.60
Income from discontinued operations (in dollars per share)	0	0	0	0
Income (loss) attributable to AIG common shareholders (in dollars per share)	2.05	3.47	2.06	8.60
Diluted:
Income (loss) from continuing operations (in dollars per share)	2.03	3.43	2.05	8.50
Income from discontinued operations (in dollars per share)	0	0	0	0
Net income attributable to AIG common shareholders (in dollars per share)	$ 2.03	$ 3.43	$ 2.05	$ 8.50
Number of shares excluded from diluted shares outstanding because the effect would have been anti-dilutive (in shares)	6,600,000	46,600,000	5,500,000	46,200,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Sep. 19, 2022
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Percent	9.40%	21.50%	2%	20.70%
U.S. federal income tax at statutory rate (as a percent)			21%	21%
Valuation allowance related to certain tax attribute carryforward	$ 915		$ 915
Gross unrecognized tax benefits, beginning of year	1,500		1,500		$ 1,200
Unrecognized tax benefits, if recognized would favorably affect the effective tax rate	1,400		1,400		1,200
Unrecognized tax benefits, interest and penalties accrued	59		59		$ 63
Unrecognized tax benefits, interest net of the federal (benefit) expense and penalties			4	$ 3
Valuation allowance	2,100		2,100
Foreign And State Jurisdictions
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized			46
Federal Tax Credit Carryforwards and Tax Credit Carryforwards
Operating Loss Carryforwards [Line Items]
Valuation allowance related to certain tax attribute carryforward	713		713
Other Deferred Tax Assets
Operating Loss Carryforwards [Line Items]
Valuation allowance related to certain tax attribute carryforward	202		202
Corebridge Financial Inc
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized			(51)
U.S.. Life Insurance Companies
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized	(69)		(63)
Non U.S.. Life Insurance Companies
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized	$ (74)		(160)
U.S.. Life Insurance Companies, Available-for-Sale Portfolio
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized			(1,400)
Non U.S.. Life Insurance Companies, Available-for-Sale Portfolio
Operating Loss Carryforwards [Line Items]
Deferred tax asset valuation allowance recognized			$ (745)
Corebridge Financial Inc
Operating Loss Carryforwards [Line Items]
Ownership (as a percent)						65.30%
Corebridge Financial Inc | Maximum
Operating Loss Carryforwards [Line Items]
Ownership (as a percent)						80%