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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Balance Sheet Presentation
Derivative Balance Sheet Presentation
Net DerivativesAsset
Derivatives 		Liability Derivatives
Notional AmountFair ValueFair ValueFair Value
Hedge Designation/ Derivative TypeSep 30, 2025Dec. 31, 2024Sep 30, 2025Dec. 31, 2024Sep 30, 2025Dec. 31, 2024Sep 30, 2025Dec. 31, 2024
Cash flow hedges
Interest rate swaps$3,275 $4,225 $1 $— $1 $— $— $— 
Foreign currency swaps588 646 (1)41 30 52 (31)(11)
Total cash flow hedges3,863 4,871 — 41 31 52 (31)(11)
Non-qualifying strategies
Interest rate contracts
Interest rate swaps and futures333 344 (2)— — 1 (2)(1)
Foreign exchange contracts
Foreign currency swaps588 647 — — — — — — 
Credit contracts
Credit derivatives in offsetting positions985 986 — — 29 31 (29)(31)
Equity contracts
Equity index options— 233 — 4 — 4 — — 
Total non-qualifying strategies1,906 2,210 (2)4 29 36 (31)(32)
Total cash flow hedges and non-qualifying strategies$5,769 $7,081 $(2)$45 $60 $88 $(62)$(43)
Balance Sheet Location
Fixed maturities, AFS$588 $647 $— $— $— $— $— $— 
Other investments3,540 3,011 30 57 30 66 — (9)
Other liabilities1,641 3,423 (32)(12)30 22 (62)(34)
Total derivatives$5,769 $7,081 $(2)$45 $60 $88 $(62)$(43)
Offsetting Liabilities
Offsetting Derivative Assets and Liabilities
(i)(ii)(iii) = (i) - (ii)(iv)(v) = (iii) - (iv)
Net Amounts Presented in the Statement of Financial PositionCollateral Disallowed for Offset in the Statement of Financial Position
Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in the Statement of Financial PositionDerivative Assets [1] (Liabilities) [2]Accrued Interest and Cash Collateral (Received) [3] Pledged [2]Financial Collateral (Received) Pledged [4]Net Amount
As of September 30, 2025
Other investments$60 $58 $30 $(28)$— $2 
Other liabilities$(62)$(40)$(32)$10 $(20)$(2)
As of December 31, 2024
Other investments$88 $86 $57 $(55)$— $2 
Other liabilities$(43)$(42)$(12)$11 $(1)$— 
[1]Included in other investments in the Company's Condensed Consolidated Balance Sheets.
[2]Included in other liabilities in the Company's Condensed Consolidated Balance Sheets and is limited to the net derivative payable associated with each counterparty.
[3]Included in other investments in the Company's Condensed Consolidated Balance Sheets and is limited to the net derivative receivable associated with each counterparty.
[4] Excludes collateral associated with exchange-traded derivative instruments.
Derivatives in Cash Flow Hedging Relationships
Gains (Losses) Recognized in OCI
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Interest rate swaps$— $25 $13 $4 
Foreign currency swaps14 (23)(35)9 
Total$14 $2 $(22)$13 
Gains (Losses) Reclassified from AOCI into Income
Three months ended September 30,Nine Months Ended September 30,
2025202420252024
Net Investment IncomeInterest ExpenseNet Investment IncomeInterest ExpenseNet Investment IncomeInterest ExpenseNet Investment IncomeInterest Expense
Interest rate swaps$(3)$3 $(9)$4 $(7)$9 $(24)$13 
Foreign currency swaps3 — 3 — 8 — 9 — 
Total$— $3 $(6)$4 $1 $9 $(15)$13 
Total amounts presented on the Condensed Consolidated Statement of Operations$759 $50 $659 $49 $2,079 $150 $1,854 $149 
Non-Qualifying Strategies Recognized within Net Realized Capital Gains (Losses)
Non-Qualifying Strategies Recognized within Net Realized Gains (Losses)
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Interest rate contracts
Interest rate swaps and futures$— $12 $(2)$9 
Equity contracts
Equity index options(5)11 (14)6 
Total [1]$(5)$23 $(16)$15 
[1]Excludes investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 4 - Fair Value Measurements of Notes to Condensed Consolidated Financial Statements.
Credit Derivatives by Type
Credit Risk Assumed Derivatives by Type
Underlying Referenced Credit
Obligation(s) [1]
Notional
Amount
[2]		Fair
Value		Weighted
Average
Years to
Maturity		TypeAverage
Credit
Rating		Offsetting
Notional
Amount [3]		Offsetting
Fair
Value [3]
As of September 30, 2025
Basket credit default swaps [4]
Investment grade risk exposure$100 $1 3 yearsCMBS CreditAAA$100 $(1)
Below investment grade risk exposure392 28 3 yearsCorporate CreditBB-392 (28)
Below investment grade risk exposure1 (1)Less than 1 yearCMBS CreditCCC+1 1 
Total [5]$493 $28 $493 $(28)
As of December 31, 2024
Basket credit default swaps [4]
Investment grade risk exposure$100 $— 4 yearsCMBS CreditAAA$100 $— 
Below investment grade risk exposure392 30 3 yearsCorporate CreditB+392 (30)
Below investment grade risk exposure1 (1)Less than 1 yearCMBS CreditCCC1 1 
Total [5]$493 $29 $493 $(29)
[1]The average credit ratings are based on availability and are generally the midpoint of the available ratings among Moody’s, S&P and Fitch. If no rating is available from a rating agency, then an internally developed rating is used.
[2]Notional amount is equal to the maximum potential future loss amount. These derivatives are governed by agreements and applicable law, which include collateral posting requirements. There is no additional specific collateral related to these contracts or recourse provisions included in the contracts to offset losses.
[3]The Company has entered into offsetting credit default swaps to terminate certain existing credit default swaps, thereby offsetting the future changes in value of, or losses paid related to, the original swap.
[4] Comprised of swaps of standard market indices of diversified portfolios of corporate and CMBS issuers referenced through credit default swaps. These swaps are subsequently valued based upon the observable standard market index.
[5] Excludes investments that contain an embedded credit derivative for which the Company has elected the fair value option. For further discussion, see the Fair Value Option section in Note 4 - Fair Value Measurements of Notes to Condensed Consolidated Financial Statements.