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DEFERRED POLICY ACQUISITION COSTS, DEFERRED SALES INDUCEMENTS AND VALUE OF BUSINESS ACQUIRED - Schedule of Rollforward of Deferred Acquisition Costs and Value of Business Acquired (Details) - USD ($) $ in Millions | 6 Months Ended
--- | ---
Jun. 30, 2024 | Jun. 30, 2023
DAC: |  |
Balance, beginning of period | $ 1,702 | $ 1,096
Additions | 575 | 601
Derecognition | (1,129) |
Amortization | (281) | (274)
Net change | (835) | 327
Balance, end of period | 867 | 1,423
DSI: |  |
Balance, beginning of period | 257 | 85
Additions | 96 | 96
Derecognition | (246) |
Amortization | (5) | (3)
Net change | (155) | 93
Balance, end of period | 102 | 178
VOBA asset: |  |
Balance, beginning of period | 509 | 404
Acquisition from business combination | 9,276 |
Additions |  | 36
Amortization | (215) | 55
Net change | 9,061 | (19)
Balance, end of period | 9,570 | 385
Total DAC, DSI and VOBA asset | 10,539 | 1,986
Annuity |  |
DAC: |  |
Balance, beginning of period | 1,314 | 886
Additions | 257 | 253
Derecognition | (1,129) |
Amortization | (36) | (34)
Net change | (908) | 219
Balance, end of period | 406 | 1,105
DSI: |  |
Balance, beginning of period | 257 | 85
Additions | 96 | 96
Derecognition | (246) |
Amortization | (5) | (3)
Net change | (155) | 93
Balance, end of period | 102 | 178
VOBA asset: |  |
Balance, beginning of period | 40 | 26
Acquisition from business combination | 9,276 |
Additions |  | 18
Amortization | (134) | 1
Net change | 9,142 | 17
Balance, end of period | 9,182 | 43
Total DAC, DSI and VOBA asset | 9,690 | 1,326
Life |  |
DAC: |  |
Balance, beginning of period | 217 | 86
Additions | 57 | 79
Derecognition | 0 |
Amortization | (10) | (7)
Net change | 47 | 72
Balance, end of period | 264 | 158
DSI: |  |
Balance, beginning of period | 0 | 0
Additions | 0 | 0
Derecognition | 0 |
Amortization | 0 | 0
Net change | 0 | 0
Balance, end of period | 0 | 0
VOBA asset: |  |
Balance, beginning of period | 301 | 310
Acquisition from business combination | 0 |
Additions |  | 18
Amortization | (11) | 13
Net change | (11) | 5
Balance, end of period | 290 | 315
Total DAC, DSI and VOBA asset | 554 | 473
P&C |  |
DAC: |  |
Balance, beginning of period | 171 | 124
Additions | 261 | 269
Derecognition | 0 |
Amortization | (235) | (233)
Net change | 26 | 36
Balance, end of period | 197 | 160
DSI: |  |
Balance, beginning of period | 0 | 0
Additions | 0 | 0
Derecognition | 0 |
Amortization | 0 | 0
Net change | 0 | 0
Balance, end of period | 0 | 0
VOBA asset: |  |
Balance, beginning of period | 168 | 68
Acquisition from business combination | 0 |
Additions |  | 0
Amortization | (70) | 41
Net change | (70) | (41)
Balance, end of period | 98 | 27
Total DAC, DSI and VOBA asset | $ 295 | $ 187

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