XML 104 R94.htm IDEA: XBRL DOCUMENT v3.24.2.u1
FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Valuation Techniques and Unobservable Inputs of Level 3 Fair Value Measurements (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Fair Value Disclosures [Abstract]        
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Net income (loss) Net income (loss) Net income (loss) Net income (loss)
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)   Other comprehensive income (loss)
Policyholders’ account balances – embedded derivative        
Liabilities        
Beginning balance $ (904) $ (872)    
Funds withheld for reinsurance liabilities – embedded derivative, beginning balance     $ (784) $ (726)
Acquisition from business combination 0      
Derecognition 0      
Fair value changes in net income (287) (38) (51) (50)
Fair value changes in other comprehensive income 0 0   0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements or maturities (30) 0 0 0
Premiums less benefits 35 (6) 26 (8)
Transfers into Level 3 0      
Transfers out of Level 3 0      
Ending balance (1,196) (904)    
Funds withheld for reinsurance liabilities – embedded derivative, ending balance     (809) (784)
Funds withheld for reinsurance liabilities – embedded derivative        
Liabilities        
Funds withheld for reinsurance liabilities – embedded derivative, beginning balance 1 0    
Acquisition from business combination 0      
Derecognition 0      
Fair value changes in net income (35) 1    
Fair value changes in other comprehensive income 0 0    
Purchases 0 0    
Sales 0 0    
Settlements or maturities 0 0    
Premiums less benefits 0 0    
Transfers into Level 3 0      
Transfers out of Level 3 0      
Funds withheld for reinsurance liabilities – embedded derivative, ending balance (34) 1    
Invested assets        
Assets        
Beginning balance 4,575 4,447 3,512 2,489
Acquisition from business combination 4,288      
Derecognition 0      
Fair value changes in net income 162 (5) (293) 1
Fair value changes in other comprehensive income 19 8   77
Purchases 1,234 2,187 923 1,265
Sales (1,260) (2,056) (33) (320)
Settlements or maturities (3) (6) 0 0
Premiums less benefits 0 0 0 0
Transfers into Level 3 64      
Transfers out of Level 3 (58)      
Ending balance 9,021 4,575 4,109 3,512
Derivative assets        
Assets        
Beginning balance 257 227 167 121
Acquisition from business combination 0      
Derecognition 0      
Fair value changes in net income 24 57 47 25
Fair value changes in other comprehensive income 0 0   0
Purchases 39 35 30 30
Sales 0 0 0 0
Settlements or maturities (66) (62) (29) (9)
Premiums less benefits 0 0 0 0
Transfers into Level 3 0      
Transfers out of Level 3 0      
Ending balance 254 257 215 167
Reinsurance funds withheld – embedded derivative        
Assets        
Beginning balance 89 (46) 99 154
Acquisition from business combination 0      
Derecognition (196)      
Fair value changes in net income 141 135 27 (55)
Fair value changes in other comprehensive income 0 0   0
Purchases 0 0 0 0
Sales 0 0 0 0
Settlements or maturities 0 0 0 0
Premiums less benefits 0 0 0 0
Transfers into Level 3 0      
Transfers out of Level 3 0      
Ending balance $ 34 $ 89 $ 126 $ 99