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INSURANCE LIABILITIES AND ANNUITY BENEFITS (Tables) | 9 Months Ended
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Sep. 30, 2025
Insurance [Abstract] |
Schedule of Insurance and Investment Contract Liabilities | A summary of our insurance liabilities and annuity benefits is presented below.
September 30, 2025 | Long-term care | Structured settlement annuities | Life | Other contracts | Total
Future policy benefit reserves | $ | 25,801 |  | $ | 8,467 |  | $ | 976 |  | $ | 356 |  | $ | 35,599 |
Investment contracts | — |  | 669 |  | — |  | 502 |  | 1,171 |
Other | — |  | — |  | 113 |  | 271 |  | 384 |
Total | $ | 25,801 |  | $ | 9,136 |  | $ | 1,088 |  | $ | 1,129 |  | $ | 37,153 |
December 31, 2024 |  |  |  |  |
Future policy benefit reserves | $ | 24,675 |  | $ | 8,426 |  | $ | 1,018 |  | $ | 357 |  | $ | 34,476 |
Investment contracts | — |  | 719 |  | — |  | 621 |  | 1,340 |
Other | — |  | — |  | 116 |  | 277 |  | 394 |
Total | $ | 24,675 |  | $ | 9,145 |  | $ | 1,134 |  | $ | 1,254 |  | $ | 36,209 |
Summary of Future Policy Benefits | The following tables summarize balances of and changes in future policy benefit reserves.
| September 30, 2025 |  |  |  | September 30, 2024 |  |
Present value of expected net premiums | Long-term care | Structured settlement annuities | Life |  |  |  | Long-term care | Structured settlement annuities | Life |  |
Balance, beginning of year | $ | 4,144 |  | $ | — |  | $ | 4,318 |  |  |  |  | $ | 4,063 |  | $ | — |  | $ | 4,803 |  |  |
Beginning balance at locked-in discount rate | 3,991 |  | — |  | 4,415 |  |  |  |  | 3,745 |  | — |  | 4,773 |  |  |
Effect of changes in cash flow assumptions | 257 |  | — |  | 4 |  |  |  |  | 387 |  | — |  | (1) |  |  |
Effect of actual variances from expected experience(a) | (3) |  | — |  | (2,343) |  |  |  |  | (26) |  | — |  | (5) |  |  |
Adjusted beginning of year balance | 4,244 |  | — |  | 2,076 |  |  |  |  | 4,106 |  | — |  | 4,768 |  |  |
Interest accrual | 164 |  | — |  | 138 |  |  |  |  | 155 |  | — |  | 134 |  |  |
Net premiums collected | (299) |  | — |  | (223) |  |  |  |  | (298) |  | — |  | (212) |  |  |
Effect of foreign currency | — |  | — |  | 108 |  |  |  |  | — |  | — |  | (41) |  |  |
Ending balance at locked-in discount rate | 4,110 |  | — |  | 2,099 |  |  |  |  | 3,962 |  | — |  | 4,649 |  |  |
Effect of changes in discount rate assumptions | 278 |  | — |  | 87 |  |  |  |  | 355 |  | — |  | (24) |  |  |
Balance, end of period | $ | 4,388 |  | $ | — |  | $ | 2,186 |  |  |  |  | $ | 4,317 |  | $ | — |  | $ | 4,625 |  |  |
Present value of expected future policy benefits |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of year | $ | 28,820 |  | $ | 8,426 |  | $ | 5,336 |  |  |  |  | $ | 30,895 |  | $ | 9,357 |  | $ | 5,921 |  |  |
Beginning balance at locked-in discount rate | 27,448 |  | 8,301 |  | 5,411 |  |  |  |  | 27,144 |  | 8,561 |  | 5,847 |  |  |
Effect of changes in cash flow assumptions | 308 |  | (37) |  | 43 |  |  |  |  | 389 |  | — |  | 24 |  |  |
Effect of actual variances from expected experience(a) | 142 |  | 6 |  | (2,381) |  |  |  |  | 24 |  | (25) |  | (4) |  |  |
Adjusted beginning of year balance | 27,898 |  | 8,270 |  | 3,074 |  |  |  |  | 27,557 |  | 8,536 |  | 5,867 |  |  |
Interest accrual | 1,129 |  | 323 |  | 167 |  |  |  |  | 1,112 |  | 332 |  | 164 |  |  |
Benefit payments | (1,130) |  | (486) |  | (319) |  |  |  |  | (1,079) |  | (493) |  | (329) |  |  |
Effect of foreign currency | — |  | — |  | 113 |  |  |  |  | — |  | — |  | (44) |  |  |
Ending balance at locked-in discount rate | 27,897 |  | 8,107 |  | 3,035 |  |  |  |  | 27,591 |  | 8,374 |  | 5,658 |  |  |
Effect of changes in discount rate assumptions | 2,291 |  | 360 |  | 127 |  |  |  |  | 3,540 |  | 719 |  | 26 |  |  |
Balance, end of period | $ | 30,188 |  | $ | 8,467 |  | $ | 3,161 |  |  |  |  | $ | 31,131 |  | $ | 9,093 |  | $ | 5,684 |  |  |
Net future policy benefit reserves | $ | 25,801 |  | $ | 8,467 |  | $ | 976 |  |  |  |  | $ | 26,813 |  | $ | 9,093 |  | $ | 1,060 |  |  |
Less: Reinsurance recoverables, net of allowance for credit losses | (157) |  | — |  | (179) |  |  |  |  | (185) |  | — |  | (32) |  |  |
Net future policy benefit reserves, after reinsurance recoverables | $ | 25,644 |  | $ | 8,467 |  | $ | 797 |  |  |  |  | $ | 26,628 |  | $ | 9,093 |  | $ | 1,028 |  |  |
Weighted-average duration of liability (years)(b) | 11.3 | 10.2 | 6.0 |  |  |  | 12.3 | 10.9 | 5.6 |  |
Weighted-average interest accretion rate | 5.6% | 5.4% | 5.3% |  |  |  | 5.6% | 5.4% | 5.1% |  |
Current discount rate | 5.3% | 5.3% | 4.9% |  |  |  | 5.0% | 4.9% | 4.6% |  |
Gross premiums or assessments recognized during period | $ | 343 |  | $ | — |  | $ | 249 |  |  |  |  | $ | 359 |  | $ | — |  | $ | 241 |  |  |
Expected future gross premiums, undiscounted | 7,499 |  | — |  | 4,468 |  |  |  |  | 7,517 |  | — |  | 12,011 |  |  |
Expected future gross premiums, discounted(b) | 4,813 |  | — |  | 2,452 |  |  |  |  | 4,938 |  | — |  | 5,576 |  |  |
Expected future benefit payments, undiscounted | 61,497 |  | 17,961 |  | 5,091 |  |  |  |  | 62,798 |  | 18,769 |  | 10,868 |  |  |
Expected future benefit payments, discounted(b) | 30,188 |  | 8,467 |  | 3,161 |  |  |  |  | 31,131 |  | 9,093 |  | 5,684 |  |  |
(a) Substantially all of Life reflects novations executed during the three months ended September 30, 2025, in connection with the February 3, 2025, Canadian life and health insurance portfolio reinsurance transaction. (b) Determined using the current discount rate as of September 30, 2025 and 2024.

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- Definition Tabular disclosure of beginning balance to ending balance for liability for future policy benefit, with separate presentation of expected future net premium and expected future benefit. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29E Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-6 + Details
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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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