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Market Risk Benefits (Tables)
9 Months Ended
Sep. 30, 2025
Insurance [Abstract]  
Schedule of 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 nine months ended September 30, 2025 and the year ended December 31, 2024:
September 30, 2025December 31, 2024
Indexed
annuities
Fixed rate annuitiesIndexed
annuities
Fixed rate annuities
(In millions)
Balance, beginning of period, net liability$420 $$314 $
Balance, beginning of period, before effect of changes in the instrument-specific credit risk$322 $$209 $
Issuances and benefit payments97 — 109 — 
Attributed fees collected and interest accrual111 — 147 — 
Actual policyholder behavior different from expected 41 — (5)— 
Changes in assumptions and other16 — 24 — 
Effects of market related movements20 — (162)— 
Balance, end of period, before effect of changes in the instrument-specific credit risk607 322 
Effect of changes in the instrument-specific credit risk137 — 98 — 
Balance, end of period, net liability744 420 
Less: reinsured market risk benefits157 — 61 — 
Balance, end of period, net of reinsurance$587 $$359 $
Weighted-average attained age of policyholders weighted by total AV (years)67.8984.4367.9872.58
Net amount at risk$1,754 $$1,327 $
Schedule of Reconciliation of Asset and Liability
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:
September 30, 2025December 31, 2024
DirectReinsuredTotal DirectReinsuredTotal
(In millions)
MRB asset
Indexed annuities$83 $159 $242 $128 $61 $189 
Fixed rate annuities — — — — — — 
Total MRB asset $83 $159 $242 $128 $61 $189 
MRB liability
Indexed annuities$827 $$829 $548 $— $548 
Fixed rate annuities— — 
Total MRB liability$828 $$830 $549 $— $549