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Separate Account Assets and Liabilities | 9 Months Ended
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Sep. 30, 2024
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:
| September 30, 2024 |  | December 31, 2023
(in millions)
Variable annuities and variable universal life: |  |  |
Mutual funds | $ | 78,631 |  |  | $ | 74,634 |
Unitized pooled pension funds: |  |  |
Property/real estate | 1,809 |  |  | 1,784 |
Equity securities | 547 |  |  | 553 |
Debt securities | 232 |  |  | 285 |
Cash and cash equivalents | 135 |  |  | 147 |
Other | 55 |  |  | 54 |
Total | $ | 81,409 |  |  | $ | 77,457 |
The balances of and changes in separate account liabilities were as follows:
| Variable Annuities |  | Variable Universal Life |  | Unitized Pooled Pension Funds |  | Total
(in millions)
Balance at January 1, 2024 | $ | 65,839 |  |  | $ | 8,795 |  |  | $ | 2,823 |  |  | $ | 77,457 |
Premiums and deposits | 676 |  |  | 365 |  |  | 139 |  |  | 1,180 |
Policy charges | (1,017) |  |  | (229) |  |  | (4) |  |  | (1,250) |
Surrenders and other benefits | (5,111) |  |  | (317) |  |  | (463) |  |  | (5,891) |
Investment return | 8,281 |  |  | 1,288 |  |  | 149 |  |  | 9,718 |
Net transfer from (to) general account | 18 |  |  | 43 |  |  | — |  |  | 61 |
Other charges | — |  |  | — |  |  | 134 |  |  | 134 |
Balance at September 30, 2024 | $ | 68,686 |  |  | $ | 9,945 |  |  | $ | 2,778 |  |  | $ | 81,409 |
Cash surrender value | $ | 67,277 |  |  | $ | 9,342 |  |  | $ | 2,778 |  |  | $ | 79,397 |
| Variable Annuities |  | Variable Universal Life |  | Unitized Pooled Pension Funds |  | Total
(in millions)
Balance at January 1, 2023 | $ | 63,223 |  |  | $ | 7,653 |  |  | $ | 3,086 |  |  | $ | 73,962 |
Premiums and deposits | 835 |  |  | 459 |  |  | 194 |  |  | 1,488 |
Policy charges | (1,343) |  |  | (292) |  |  | (7) |  |  | (1,642) |
Surrenders and other benefits | (5,378) |  |  | (317) |  |  | (777) |  |  | (6,472) |
Investment return | 8,477 |  |  | 1,250 |  |  | 170 |  |  | 9,897 |
Net transfer from (to) general account | 25 |  |  | 42 |  |  | — |  |  | 67 |
Other charges | — |  |  | — |  |  | 157 |  |  | 157 |
Balance at December 31, 2023 | $ | 65,839 |  |  | $ | 8,795 |  |  | $ | 2,823 |  |  | $ | 77,457 |
Cash surrender value | $ | 64,280 |  |  | $ | 8,263 |  |  | $ | 2,823 |  |  | $ | 75,366 |

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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 -Topic 944 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480109/944-80-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -SubTopic 80 -Topic 944 -Publisher FASB -URI https://asc.fasb.org/944-80/tableOfContent + Details
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