XML 85 R37.htm IDEA: XBRL DOCUMENT v3.24.2
Reserve for Future Policy Benefits (Tables)
 6 Months Ended
Jun. 30, 2024
Insurance Loss Reserves [Abstract]  
Liability for Future Policy Benefit, Activity [Table Text Block]
Rollforward of Reserve for Future Policy Benefits
For the six months ended June 30,
20242023
Payout AnnuitiesLife ConversionsPaid-up LifePayout AnnuitiesLife ConversionsPaid-up Life
Present Value of Expected Net Premiums
Balance, beginning of the period$49 $47 
Balance, ending of the period $45 $44 
Present Value of Expected Future Policy Benefits
Beginning balance at single-A rate$137 $113 $185 $140 $112 $192 
Beginning adjustment for changes in single-A rate7 (11)(32)4 (14)(39)
Beginning balance at original discount rate130 124 217 136 126 231 
Effect of changes in cash flow assumptions— — — — — — 
Effect of actual variances from expected experience1 2 — 1 3 (1)
Adjusted beginning balance131 126 217 137 129 230 
Interest accrual and other3 9 3 4 9 3 
Benefit Payments(6)(16)(12)(6)(14)(9)
Ending balance at original discount rate128 119 208 135 124 224 
Ending adjustment for changes in single-A rate1 (14)(36)4 (15)(38)
Ending balance at single-A rate$129 $105 $172 $139 $109 $186 
Net reserve for future policy benefits$129 $60 $172 $139 $65 $186 
Weighted-average duration of the reserve for future policy benefits (years)9.011.56.39.112.26.3
 Net Reserve for Future Policy Benefits
As of June 30,
20242023
Payout Annuities$129 $139 
Life Conversions60 65 
Paid-up Life172 186 
Deferred Profit Liability20 19 
Other83 80 
Total$464 $489 
Undiscounted Expected Future Gross Premiums and Benefit Payments
As of June 30,
20242023
Payout Annuities [1]
Expected future benefit payments$252 $267 
Life Conversions
Expected future gross premiums$109 $117 
Expected future benefit payments$199 $208 
Paid-up Life [1]
Expected future benefit payments$268 $290 
[1]Payout Annuities and Paid-up Life have no expected future gross premiums.
Weighted-Average Interest Rates
As of June 30,
20242023
Payout Annuities
Interest accretion rate5.6 %5.6 %
Current discount rate5.5 %5.2 %
Life Conversions
Interest accretion rate4.2 %4.2 %
Current discount rate5.5 %5.2 %
Paid-up Life
Interest accretion rate2.9 %2.9 %
Current discount rate5.4 %5.3 %