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F&G Reinsurance (Tables)
 3 Months Ended
Mar. 31, 2025
Reinsurance Disclosures [Abstract]  
Schedule of Effect of Reinsurance on Premiums Earned, Benefits Incurred and Reserve Changes
The effects of reinsurance on net premiums earned and net benefits incurred (benefits paid and reserve changes) for the three months ended March 31, 2025 and 2024 were as follows:
Three months ended March 31,
20252024
(In millions)
Net Premiums EarnedNet Benefits IncurredNet Premiums EarnedNet Benefits Incurred
Direct$343 $577 $620 $1,213 
Ceded(22)(53)(24)(52)
   Net$321 $524 $596 $1,161 
Schedule of Reinsurance Recoverable
The following summarizes our reinsurance recoverable as of March 31, 2025 and December 31, 2024:
Parent Company/
Principal Reinsurers		Reinsurance Recoverable (a)Agreement TypeProducts
Covered		Accounting
March 31, 2025December 31, 2024
(In millions)
Aspida Life Re Ltd.$8,060 $7,844 Coinsurance Funds WithheldCertain MYGA (b)Deposit
Somerset Reinsurance Ltd. (c)3,316 2,822 Coinsurance Funds WithheldCertain MYGA (b) and deferred annuitiesDeposit
Coinsurance Funds WithheldCertain FIAReinsurance
Everlake1,830 1,168 Coinsurance Certain MYGA (b) (d)Deposit
Wilton Reassurance Company1,067 1,066 CoinsuranceBlock of traditional, IUL and UL (e)Reinsurance
Other (f)493 489 
Reinsurance recoverable, gross of allowance14,766 13,389 
Allowance for expected credit losses(20)(20)
Reinsurance recoverable, net of allowance for expected credit losses$14,746 $13,369 
(a) Reinsurance recoverables do not include unearned ceded premiums that would be recovered in the event of early termination of certain traditional life policies.
(b) The combined quota share flow reinsurance amongst all reinsurers for 2025 was 90% for the majority of the first quarter of 2025. As of December 31, 2024, the combined quota share flow reinsurance amongst all reinsurers was 90%. Refer to Everlake amendment in first quarter of 2025 above.
(c) The balance represents the total reinsurance recoverable for all reinsurance agreements with Somerset.
(d) Reinsurance recoverable is collateralized by assets placed in a statutory comfort trust by the reinsurer and maintained for our sole benefit.
(e) Also includes certain FGL Insurance life insurance policies that are subject to redundant reserves, reported on a statutory basis, under Regulation XXX and Guideline AXXX.
(f) Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of total reinsurance recoverable.
Schedule of Financial Strength Ratings of Principal Reinsurers
Parent Company/Principal ReinsurersFinancial Strength Rating
AM BestS&PFitchMoody's
Aspida ReA- ———
Somerset A-BBB+——
EverlakeA———
Wilton ReA+—A-—
“—” indicates not rated