XML 125 R113.htm IDEA: XBRL DOCUMENT v3.24.3
Future Policy Benefits - Schedule of Balances and Changes in the Present Value of Expected Net Premiums and Present Value (Details) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]      
Net liability for future policy benefits $ 8,268 $ 7,050  
Traditional Life      
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]      
Balance, beginning of year 722 797  
Beginning balance of original discount rate 874 974  
Effect of actual variances from expected experience   (4) $ (1)
Balance adjusted for variances from expectation   870 973
Interest accrual 13 19  
Net premiums collected (82) (118)  
Ending Balance at original discount rate 801 874  
Effect of actual variances from expected experience   (4) (1)
Effect of changes in discount rate assumptions (128) (152)  
Balance, end of year 673 722  
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]      
Balance, beginning of year 2,071 2,151  
Beginning balance of original discount rate 2,492 2,665  
Effect of actual variances from expected experience   48 (24)
Balance adjusted for variances from expectation   2,540 2,641
Interest accrual 41 56  
Benefits payments (165) (205)  
Ending Balance at original discount rate 2,416 2,492  
Effect of actual variances from expected experience   48 (24)
Balance adjusted for variances from expectation   2,540 2,641
Interest accrual 41 56  
Benefits payments (165) (205)  
Effect of changes in discount rate assumptions (358) (421)  
Balance, end of period 2,058 2,071  
Net liability for future policy benefits 1,385 1,349  
Less: Reinsurance recoverable 525 413  
Net liability for future policy benefits, after reinsurance recoverable $ 860 $ 936  
Weighted-average duration of liability for future policyholder benefits (years) 6 years 10 months 13 days 7 years 4 months 9 days  
Immediate Annuities      
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]      
Balance, beginning of year $ 1,415 $ 1,429  
Beginning balance of original discount rate 1,788 1,858  
Effect of changes in cash flow assumptions   0 0
Effect of actual variances from expected experience   (26) (15)
Balance adjusted for variances from expectation   1,762 1,843
Issuances 27 22  
Interest accrual 46 51  
Benefits payments (88) (128)  
Ending Balance at original discount rate 1,747 1,788  
Effect of changes in cash flow assumptions   0 0
Effect of actual variances from expected experience   (26) (15)
Balance adjusted for variances from expectation   1,762 1,843
Issuances 27 22  
Interest accrual 46 51  
Benefits payments (88) (128)  
Effect of changes in discount rate assumptions (354) (373)  
Balance, end of period 1,393 1,415  
Net liability for future policy benefits 1,393 1,415  
Less: Reinsurance recoverable 115 116  
Net liability for future policy benefits, after reinsurance recoverable $ 1,278 $ 1,299  
Weighted-average duration of liability for future policyholder benefits (years) 12 years 10 months 20 days 12 years 5 months 19 days  
PRT      
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]      
Balance, beginning of year $ 4,189 $ 2,165  
Beginning balance of original discount rate 4,351 2,475  
Effect of changes in cash flow assumptions   4 (9)
Effect of actual variances from expected experience   (20) (7)
Balance adjusted for variances from expectation   4,335 2,459
Issuances 1,300 2,041  
Interest accrual 168 109  
Benefits payments (346) (258)  
Ending Balance at original discount rate 5,457 4,351  
Effect of changes in cash flow assumptions   4 (9)
Effect of actual variances from expected experience   (20) (7)
Balance adjusted for variances from expectation   4,335 $ 2,459
Issuances 1,300 2,041  
Interest accrual 168 109  
Benefits payments (346) (258)  
Effect of changes in discount rate assumptions (63) (162)  
Balance, end of period 5,394 4,189  
Net liability for future policy benefits 5,394 4,189  
Less: Reinsurance recoverable 0 0  
Net liability for future policy benefits, after reinsurance recoverable $ 5,394 $ 4,189  
Weighted-average duration of liability for future policyholder benefits (years) 8 years 10 days 8 years 2 months 23 days