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Market Risk Benefits (Tables) | 6 Months Ended
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Jun. 30, 2024
Insurance [Abstract] |
Balances and Changes in Market Risk Benefit | The following table presents the balances of and changes in MRBs associated with indexed annuities and fixed rate annuities for the six months ended June 30, 2024 and the year ended December 31, 2023:
| June 30, 2024 |  | December 31, 2023 |  |
| Indexed annuities |  | Fixed rate annuities |  | Indexed annuities |  | Fixed rate annuities |  |  |  |
| (In millions)
Balance, beginning of period, net liability | $ | 314 |  |  | $ | 1 |  |  | $ | 164 |  |  | $ | 1 |  |  |  |  |
Balance, beginning of period, before effect of changes in the instrument-specific credit risk | $ | 209 |  |  | $ | 1 |  |  | $ | 102 |  |  | $ | 1 |  |  |  |  |
Issuances and benefit payments | 29 |  |  | — |  |  | (10) |  |  | — |  |  |  |  |
Attributed fees collected and interest accrual | 71 |  |  | — |  |  | 131 |  |  | — |  |  |  |  |
Actual policyholder behavior different from expected | 19 |  |  | — |  |  | 27 |  |  | — |  |  |  |  |
Changes in assumptions and other | 8 |  |  | — |  |  | 29 |  |  | — |  |  |  |  |
Effects of market related movements | (61) |  |  | — |  |  | (70) |  |  | — |  |  |  |  |
Balance, end of period, before effect of changes in the instrument-specific credit risk | 275 |  |  | 1 |  |  | 209 |  |  | 1 |  |  |  |  |
Effect of changes in the instrument-specific credit risk | 80 |  |  | — |  |  | 105 |  |  | — |  |  |  |  |
Balance, end of period, net liability | $ | 355 |  |  | $ | 1 |  |  | $ | 314 |  |  | $ | 1 |  |  |  |  |
Weighted-average attained age of policyholders weighted by total AV (years) | 68.12 |  | 72.54 |  | 68.28 |  | 72.59 |  |  |  |
Net amount at risk | $ | 1,185 |  |  | $ | 2 |  |  | $ | 1,059 |  |  | $ | 2 |  |  |  |  |
The following table reconciles MRBs by amounts in an asset position and amounts in a liability position to the MRBs amounts in the accompanying unaudited Condensed Consolidated Balance Sheets:
| June 30, 2024 |  | December 31, 2023 |  |
| Asset |  | Liability |  | Net |  | Asset |  | Liability |  | Net |  |  |  |  |  |
| (In millions)
Fixed rate annuities | $ | — |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1 |  |  |  |  |  |  |
Indexed annuities | 103 |  |  | 458 |  |  | 355 |  |  | 88 |  |  | 402 |  |  | 314 |  |  |  |  |  |  |
Total | $ | 103 |  |  | $ | 459 |  |  | $ | 356 |  |  | $ | 88 |  |  | $ | 403 |  |  | $ | 315 |  |  |  |  |  |  |

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- Definition Tabular disclosure of beginning balance to ending balance for contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29G -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-29G Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 7B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-7B + Details
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