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Deferred Acquisition Costs and Deferred Sales Inducement Costs (Tables) | 12 Months Ended
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Dec. 31, 2023
Deferred Charges, Insurers [Abstract] |
Schedule of balances of and changes in DAC | The following tables summarize the balances of and changes in DAC, including the January 1, 2021 adoption of ASU 2018-12:
| Variable Annuities |  | Structured Variable Annuities |  | Fixed Annuities |  | Fixed Indexed Annuities |  | Universal Life Insurance |  | Variable Universal Life Insurance
| (in millions)
Pre-adoption balance at December 31, 2020 | $ | 1,690 |  |  | $ | 22 |  |  | $ | 43 |  |  | $ | 7 |  |  | $ | 100 |  |  | $ | 452 |
Effect of shadow reserve adjustments | 42 |  |  | 4 |  |  | 18 |  |  | 1 |  |  | 31 |  |  | 53 |
Post-adoption balance at January 1, 2021 | 1,732 |  |  | 26 |  |  | 61 |  |  | 8 |  |  | 131 |  |  | 505 |
Capitalization of acquisition costs | 111 |  |  | 71 |  |  | — |  |  | — |  |  | 3 |  |  | 54 |
Amortization | (147) |  |  | (6) |  |  | (8) |  |  | (1) |  |  | (9) |  |  | (47) |
Balance at December 31, 2021 | $ | 1,696 |  |  | $ | 91 |  |  | $ | 53 |  |  | $ | 7 |  |  | $ | 125 |  |  | $ | 512 |
| Indexed Universal Life Insurance |  | Other Life Insurance |  | Life Contingent Payout Annuities |  | Term and Whole Life Insurance |  | Disability Income Insurance |  | Total, All Products
| (in millions)
Pre-adoption balance at December 31, 2020 | $ | 108 |  |  | $ | (3) |  |  | $ | — |  |  | $ | 19 |  |  | $ | 89 |  |  | $ | 2,527 |
Effect of shadow reserve adjustments | 149 |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 304 |
Post-adoption balance at January 1, 2021 | 257 |  |  | 3 |  |  | — |  |  | 19 |  |  | 89 |  |  | 2,831 |
Capitalization of acquisition costs | 9 |  |  | — |  |  | 1 |  |  | 2 |  |  | 4 |  |  | 255 |
Amortization | (18) |  |  | — |  |  | — |  |  | (2) |  |  | (9) |  |  | (247) |
Balance at December 31, 2021 | $ | 248 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 19 |  |  | $ | 84 |  |  | $ | 2,839 |
Other broker dealer acquisition costs |  |  |  |  |  |  |  |  |  |  | 5 |
Balance at December 31, 2021 including broker dealer acquisition costs |  |  |  |  |  | $ | 2,844 |
| Variable Annuities |  | Structured Variable Annuities |  | Fixed Annuities |  | Fixed Indexed Annuities |  | Universal Life Insurance |  | Variable Universal Life Insurance
| (in millions)
Balance at January 1, 2022 | $ | 1,696 |  |  | $ | 91 |  |  | $ | 53 |  |  | $ | 7 |  |  | $ | 125 |  |  | $ | 512 |
Capitalization of acquisition costs | 38 |  |  | 73 |  |  | — |  |  | — |  |  | 1 |  |  | 55 |
Amortization | (136) |  |  | (15) |  |  | (8) |  |  | (1) |  |  | (8) |  |  | (46) |
Balance at December 31, 2022 | $ | 1,598 |  |  | $ | 149 |  |  | $ | 45 |  |  | $ | 6 |  |  | $ | 118 |  |  | $ | 521 |
| Indexed Universal Life Insurance |  | Other Life Insurance |  | Life Contingent Payout Annuities |  | Term and Whole Life Insurance |  | Disability Income Insurance |  | Total, All Products
| (in millions)
Balance at January 1, 2022 | $ | 248 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 19 |  |  | $ | 84 |  |  | $ | 2,839 |
Capitalization of acquisition costs | 5 |  |  | — |  |  | 1 |  |  | 1 |  |  | 4 |  |  | 178 |
Amortization | (17) |  |  | — |  |  | — |  |  | (2) |  |  | (9) |  |  | (242) |
Balance at December 31, 2022 | $ | 236 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 18 |  |  | $ | 79 |  |  | $ | 2,775 |
Other broker dealer acquisition costs |  |  |  |  |  |  |  |  |  |  | 2 |
Balance at December 31, 2022 including broker dealer acquisition costs |  |  |  |  |  | $ | 2,777 |
| Variable Annuities |  | Structured Variable Annuities |  | Fixed Annuities |  | Fixed Indexed Annuities |  | Universal Life Insurance |  | Variable Universal Life Insurance
| (in millions)
Balance at January 1, 2023 | $ | 1,598 |  |  | $ | 149 |  |  | $ | 45 |  |  | $ | 6 |  |  | $ | 118 |  |  | $ | 521 |
Capitalization of acquisition costs | 23 |  |  | 83 |  |  | — |  |  | — |  |  | — |  |  | 57 |
Amortization | (125) |  |  | (24) |  |  | (10) |  |  | (1) |  |  | (8) |  |  | (44) |
Balance at December 31, 2023 | $ | 1,496 |  |  | $ | 208 |  |  | $ | 35 |  |  | $ | 5 |  |  | $ | 110 |  |  | $ | 534 |
| Indexed Universal Life Insurance |  | Other Life Insurance |  | Life Contingent Payout Annuities |  | Term and Whole Life Insurance |  | Disability Income Insurance |  | Total, All Products
| (in millions)
Balance at January 1, 2023 | $ | 236 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 18 |  |  | $ | 79 |  |  | $ | 2,775 |
Capitalization of acquisition costs | 4 |  |  | — |  |  | 4 |  |  | 1 |  |  | 4 |  |  | 176 |
Amortization | (17) |  |  | (1) |  |  | — |  |  | (2) |  |  | (8) |  |  | (240) |
Balance at December 31, 2023 | $ | 223 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 17 |  |  | $ | 75 |  |  | $ | 2,711 |
Other broker dealer acquisition costs |  |  |  |  |  |  |  |  |  |  | 2 |
Balance at December 31, 2023 including broker dealer acquisition costs |  |  |  |  |  | $ | 2,713 |
Schedule of balances of and changes in DSIC | The following tables summarize the balances of and changes in DSIC, including the January 1, 2021 adoption of ASU 2018-12:
| Variable Annuities |  | Fixed Annuities |  |  |  | Total, All Products
| (in millions)
Pre-adoption balance at December 31, 2020 | $ | 175 |  |  | $ | 14 |  |  |  |  | $ | 189 |
Effect of shadow reserve adjustments | 8 |  |  | 8 |  |  |  |  | 16 |
Post-adoption balance at January 1, 2021 | 183 |  |  | 22 |  |  |  |  | 205 |
Capitalization of sales inducement costs | 1 |  |  | — |  |  |  |  | 1 |
Amortization | (18) |  |  | (3) |  |  |  |  | (21) |
Balance at December 31, 2021 | $ | 166 |  |  | $ | 19 |  |  |  |  | $ | 185 |
| Variable Annuities |  | Fixed Annuities |  |  |  | Total, All Products
| (in millions)
Balance at January 1, 2022 | $ | 166 |  |  | $ | 19 |  |  |  |  | $ | 185 |
Capitalization of sales inducement costs | 1 |  |  | — |  |  |  |  | 1 |
Amortization | (16) |  |  | (3) |  |  |  |  | (19) |
Balance at December 31, 2022 | $ | 151 |  |  | $ | 16 |  |  |  |  | $ | 167 |
| Variable Annuities |  | Fixed Annuities |  |  |  | Total, All Products
| (in millions)
Balance at January 1, 2023 | $ | 151 |  |  | $ | 16 |  |  |  |  | $ | 167 |
Amortization | (15) |  |  | (4) |  |  |  |  | (19) |
Balance at December 31, 2023 | $ | 136 |  |  | $ | 12 |  |  |  |  | $ | 148 |

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