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Separate Account Assets and Liabilities
 3 Months Ended
Mar. 31, 2025
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, 2025December 31, 2024
(in millions)
Variable annuities and variable universal life:
Mutual funds$73,098 $75,576 
Unitized pooled pension funds:
Property/real estate1,717 1,682 
Equity securities432 514 
Debt securities168 175 
Cash and cash equivalents107 120 
Other50 47 
Total$75,572 $78,114 
The balances of and changes in separate account liabilities were as follows:
Variable AnnuitiesVariable Universal Life
Unitized Pooled Pension Funds
Total
(in millions)
Balance at January 1, 2025
$65,737 $9,839 $2,538 $78,114 
Premiums and deposits241 134 46 421 
Policy charges(319)(79)(1)(399)
Surrenders and other benefits(1,794)(94)(203)(2,091)
Investment return(424)(166)13 (577)
Net transfer from (to) general account9 14 — 23 
Other charges— — 81 81 
Balance at March 31, 2025
$63,450 $9,648 $2,474 $75,572 
Cash surrender value$62,179 $9,019 $2,474 $73,672 
Variable AnnuitiesVariable Universal Life
Unitized Pooled Pension Funds
Total
(in millions)
Balance at January 1, 2024
$65,839 $8,795 $2,823 $77,457 
Premiums and deposits933 500 153 1,586 
Policy charges(1,365)(307)(5)(1,677)
Surrenders and other benefits(6,990)(412)(594)(7,996)
Investment return7,293 1,199 202 8,694 
Net transfer from (to) general account27 64 — 91 
Other charges— — (41)(41)
Balance at December 31, 2024
$65,737 $9,839 $2,538 $78,114 
Cash surrender value$64,411 $9,220 $2,538 $76,169