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Separate Account Assets and Liabilities
 6 Months Ended
Jun. 30, 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:
June 30, 2025December 31, 2024
(in millions)
Variable annuities and variable universal life:
Mutual funds$76,226 $75,576 
Unitized pooled pension funds:
Property/real estate1,803 1,682 
Equity securities449 514 
Debt securities148 175 
Cash and cash equivalents169 120 
Other54 47 
Total$78,849 $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 deposits455 264 56 775 
Policy charges(641)(159)(3)(803)
Surrenders and other benefits(3,506)(188)(274)(3,968)
Investment return3,729 660 70 4,459 
Net transfer from (to) general account16 20 — 36 
Other charges— — 236 236 
Balance at June 30, 2025
$65,790 $10,436 $2,623 $78,849 
Cash surrender value$64,554 $9,774 $2,623 $76,951 
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