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v3.23.1

Separate Account Assets and Liabilities | 3 Months Ended
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Mar. 31, 2023
Insurance [Abstract] |
Separate Account Assets and Liabilities | Separate Account Assets and Liabilities Aggregate fair value of separate account assets, by major asset category, consisted of the following:
| March 31, 2023 |  | December 31, 2022
(in millions)
Mutual funds | $ | 72,844 |  |  | $ | 70,876 |
Property/Real estate | 1,894 |  |  | 1,876 |
Equity securities | 706 |  |  | 679 |
Debt securities | 308 |  |  | 279 |
Cash and cash equivalents | 136 |  |  | 208 |
Other | 53 |  |  | 44 |
Total | $ | 75,941 |  |  | $ | 73,962 |
The balances of and changes in separate account liabilities were as follows:
| Variable Annuities |  | Variable Universal Life |  | Threadneedle Investment Liabilities |  | Total
(in millions)
Balance at January 1, 2023 | $ | 63,223 |  |  | $ | 7,653 |  |  | $ | 3,086 |  |  | $ | 73,962 |
Premiums and deposits | 204 |  |  | 111 |  |  | 68 |  |  | 383 |
Policy charges | (331) |  |  | (71) |  |  | (2) |  |  | (404) |
Surrenders and other benefits | (1,250) |  |  | (71) |  |  | (185) |  |  | (1,506) |
Investment return | 2,963 |  |  | 407 |  |  | 69 |  |  | 3,439 |
Net transfer from (to) general account | 5 |  |  | 1 |  |  | — |  |  | 6 |
Other charges | — |  |  | — |  |  | 61 |  |  | 61 |
Balance at March 31, 2023 | $ | 64,814 |  |  | $ | 8,030 |  |  | $ | 3,097 |  |  | $ | 75,941 |
Cash surrender value | $ | 63,086 |  |  | $ | 7,560 |  |  | $ | 3,097 |  |  | $ | 73,743 |
| Variable Annuities |  | Variable Universal Life |  | Threadneedle Investment Liabilities |  | Total
(in millions)
Balance at January 1, 2022 | $ | 82,862 |  |  | $ | 9,376 |  |  | $ | 5,253 |  |  | $ | 97,491 |
Premiums and deposits | 1,067 |  |  | 425 |  |  | 252 |  |  | 1,744 |
Policy charges | (1,396) |  |  | (278) |  |  | (11) |  |  | (1,685) |
Surrenders and other benefits | (4,923) |  |  | (286) |  |  | (1,548) |  |  | (6,757) |
Investment return | (14,450) |  |  | (1,654) |  |  | (273) |  |  | (16,377) |
Net transfer from (to) general account | 63 |  |  | 70 |  |  | — |  |  | 133 |
Other charges | — |  |  | — |  |  | (587) |  |  | (587) |
Balance at December 31, 2022 | $ | 63,223 |  |  | $ | 7,653 |  |  | $ | 3,086 |  |  | $ | 73,962 |
Cash surrender value | $ | 61,461 |  |  | $ | 7,200 |  |  | $ | 3,086 |  |  | $ | 71,747 |

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- Definition The entire disclosure for separate account. Includes, but is not limited to, extent and terms of minimum guarantee. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 80 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124508989&loc=d3e19393-158473 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 80 -URI https://asc.fasb.org/subtopic&trid=4738016 + Details
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