XML 119 R108.htm IDEA: XBRL DOCUMENT v3.23.2
Contractholder Funds - Summary of Balances and Changes in Contractholder Funds (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Policyholder Account Balance [Roll Forward]            
Balance, beginning of year     $ 40,843      
Balance, end of year $ 45,070   45,070   $ 40,843  
Change in fair value of other derivatives and embedded derivatives 1 $ (5) 3 $ (8)    
Gross Liability, end of period 45,070   45,070   40,843 $ 34,753
Less: Reinsurance (7,077)   (7,077)   (5,418)  
FIA            
Policyholder Account Balance [Roll Forward]            
Balance, beginning of year     24,766 21,997 21,997 18,703
Issuances     2,415   4,462 4,400
Premiums received     52   106 103
Policy charge     (87)   (166) (148)
Surrenders and withdrawals     (876)   (1,322) (1,303)
Benefit payments     (254)   (485) (440)
Interest credited     69   198 686
Other     23   (24) (4)
Balance, end of year 26,108   26,108   24,766 21,997
Change in fair value of other derivatives and embedded derivatives     98   (343) 603
Gross Liability, end of period 26,206   26,206   24,423 22,600
Less: Reinsurance (17)   (17)   (17) (17)
Net Liability, after Reinsurance $ 26,189   $ 26,189   $ 24,406 $ 22,583
Weighted-average crediting rate 1.10%   1.10%   0.85% 3.43%
Cash surrender value $ 24,337   $ 24,337   $ 188 $ 20,455
Fixed Rate Annuities            
Policyholder Account Balance [Roll Forward]            
Balance, beginning of year     9,358 6,367 6,367 5,142
Issuances     2,584   3,758 1,743
Premiums received     1   3 3
Policy charge     0   (1) (1)
Surrenders and withdrawals     (520)   (797) (543)
Benefit payments     (118)   (192) (145)
Interest credited     179   220 167
Other     (1)   0 1
Balance, end of year 11,483   11,483   9,358 6,367
Change in fair value of other derivatives and embedded derivatives     0   0 0
Gross Liability, end of period 11,483   11,483   9,358 6,367
Less: Reinsurance (5,431)   (5,431)   (3,723) (1,692)
Net Liability, after Reinsurance $ 6,052   $ 6,052   $ 5,635 $ 4,675
Weighted-average crediting rate 7.07%   7.07%   2.84% 2.94%
Cash surrender value $ 10,707   $ 10,707   $ 5,992 $ 5,992
Universal Life            
Policyholder Account Balance [Roll Forward]            
Balance, beginning of year     2,112 1,907 1,907 1,696
Issuances     99   167 114
Premiums received     180   295 233
Policy charge     (124)   (209) (167)
Surrenders and withdrawals     (45)   (74) (68)
Benefit payments     (16)   (22) (19)
Interest credited     20   48 118
Other     0   0 0
Balance, end of year 2,226   2,226   2,112 1,907
Change in fair value of other derivatives and embedded derivatives     73   15 74
Gross Liability, end of period 2,299   2,299   2,127 1,981
Less: Reinsurance (924)   (924)   (947) (984)
Net Liability, after Reinsurance $ 1,375   $ 1,375   $ 1,180 $ 997
Weighted-average crediting rate 3.85%   3.85%   2.39% 6.77%
Net amount at risk $ 53,401   $ 53,401   $ 53,348 $ 41,326
Cash surrender value 1,760   1,760   1,698 1,572
Funding Agreements, FABN            
Policyholder Account Balance [Roll Forward]            
Balance, beginning of year     2,613 1,904 1,904 0
Issuances     0   700 1,899
Premiums received     0   0 0
Policy charge     0   0 0
Surrenders and withdrawals     0   0 0
Benefit payments     (27)   (35) (7)
Interest credited     27   45 12
Other     0   (1) 0
Balance, end of year 2,613   2,613   2,613 1,904
Change in fair value of other derivatives and embedded derivatives     0   0 0
Gross Liability, end of period 2,613   2,613   2,613 1,904
Less: Reinsurance 0   0   0 0
Net Liability, after Reinsurance 2,613   2,613   2,613 1,904
Federal Home Loan Bank Funding Agreements            
Policyholder Account Balance [Roll Forward]            
Balance, beginning of year     1,982 $ 1,543 1,543 1,203
Issuances     456   1,192 759
Premiums received     0   0 0
Policy charge     0   0 0
Surrenders and withdrawals     0   0 0
Benefit payments     (323)   (789) (447)
Interest credited     25   36 30
Other     3   0 (2)
Balance, end of year 2,143   2,143   1,982 1,543
Change in fair value of other derivatives and embedded derivatives     0   0 0
Gross Liability, end of period 2,143   2,143   1,982 1,543
Less: Reinsurance 0   0   0 0
Net Liability, after Reinsurance $ 2,143   $ 2,143   $ 1,982 $ 1,543