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Market Risk Benefits (Tables)

6 Months Ended

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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- References

No definition available.

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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

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