XML 135 R107.htm IDEA: XBRL DOCUMENT v3.24.0.1
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Beginning balance     $ 8,470  
Future policy benefits and other policyholders' liabilities $ 17,363 $ 16,603    
Less: Reinsurance recoverable       $ (1,896)
Net liability for future policy benefits, after reinsurance recoverable       6,574
Term        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Future policy benefits and other policyholders' liabilities 1,348 1,365    
Payout - Non-Legacy        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Future policy benefits and other policyholders' liabilities 844 828    
Payout - Legacy        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Future policy benefits and other policyholders' liabilities 3,620 2,689    
Group Pension        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Future policy benefits and other policyholders' liabilities 490 523    
Health        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Future policy benefits and other policyholders' liabilities 1,505 1,558    
Protection Solutions | Term        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Beginning balance     1,983  
Less: Reinsurance recoverable       (59)
Net liability for future policy benefits, after reinsurance recoverable       1,924
Operating Segments | Protection Solutions | Term        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance 2,100 2,485 2,492  
Beginning balance at original discount rate 2,078 1,864 1,762  
Effect of changes in cash flow assumptions   47 204 69
Effect of actual variances from expected experience   (37) 31 15
Adjusted beginning of period balance   2,088 2,099 1,846
Issuances 65 76 111  
Interest accrual 100 97 92  
Net premiums collected (195) (194) (185)  
Ending balance at original discount rate 2,058 2,078 1,864  
Effect of changes in discount rate assumptions 75 22 621  
Ending balance 2,133 2,100 2,485  
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Beginning balance 3,465 4,294 4,475  
Beginning balance at original discount rate 3,391 3,241 3,184  
Effect of changes in cash flow assumptions   59 222 69
Effect of actual variances from expected experience   (45) 31 11
Adjusted beginning of period balance   3,405 3,494 3,264
Issuances 70 82 117  
Interest accrual 167 168 168  
Benefits payments (312) (353) (308)  
Ending balance at original discount rate 3,330 3,391 3,241  
Effect of changes in discount rate assumptions 150 74 1,053  
Ending balance 3,480 3,465 4,294  
Impact of flooring LFPB at zero 1 0    
Future policy benefits and other policyholders' liabilities 1,348 1,365 1,809  
Less: Reinsurance recoverable 25 21 (42)  
Net liability for future policy benefits, after reinsurance recoverable $ 1,373 $ 1,386 $ 1,767  
Weighted-average duration of liability for future policyholder benefits (years) 7 years 7 years 7 years 6 months  
Operating Segments | Individual Retirement | Payout - Non-Legacy        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance $ 0 $ 0 $ 0  
Beginning balance at original discount rate 0 0 0  
Effect of changes in cash flow assumptions   0 0 0
Effect of actual variances from expected experience   0 0 0
Adjusted beginning of period balance   0 0 0
Issuances 0 0 0  
Interest accrual 0 0 0  
Net premiums collected 0 0 0  
Ending balance at original discount rate 0 0 0  
Effect of changes in discount rate assumptions 0 0 0  
Ending balance 0 0 0  
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Beginning balance 828 1,114 1,158  
Beginning balance at original discount rate 845 883 883  
Effect of changes in cash flow assumptions   0 (2) 34
Effect of actual variances from expected experience   0 (1) (8)
Adjusted beginning of period balance   845 880 909
Issuances 47 23 26  
Interest accrual 39 40 40  
Benefits payments (91) (98) (92)  
Ending balance at original discount rate 840 845 883  
Effect of changes in discount rate assumptions 4 (17) 231  
Ending balance 844 828 1,114  
Impact of flooring LFPB at zero 0 0    
Future policy benefits and other policyholders' liabilities 844 828 1,114  
Less: Reinsurance recoverable (1) 0 0  
Net liability for future policy benefits, after reinsurance recoverable $ 843 $ 828 $ 1,114  
Weighted-average duration of liability for future policyholder benefits (years) 9 years 3 months 18 days 9 years 6 months 9 years 7 months 6 days  
Operating Segments | Legacy | Payout - Legacy        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance $ 0 $ 0 $ 0  
Beginning balance at original discount rate 0 0 0  
Effect of changes in cash flow assumptions   0 0 0
Effect of actual variances from expected experience   0 0 0
Adjusted beginning of period balance   0 0 0
Issuances 0 0 0  
Interest accrual 0 0 0  
Net premiums collected 0 0 0  
Ending balance at original discount rate 0 0 0  
Effect of changes in discount rate assumptions 0 0 0  
Ending balance 0 0 0  
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Beginning balance 2,689 2,547 2,250  
Beginning balance at original discount rate 3,024 2,400 1,993  
Effect of changes in cash flow assumptions   0 (1) 4
Effect of actual variances from expected experience   (4) (4) 9
Adjusted beginning of period balance   3,020 2,395 2,006
Issuances 997 758 490  
Interest accrual 88 63 61  
Benefits payments (265) (192) (157)  
Ending balance at original discount rate 3,840 3,024 2,400  
Effect of changes in discount rate assumptions (220) (335) 147  
Ending balance 3,620 2,689 2,547  
Impact of flooring LFPB at zero 0 0    
Future policy benefits and other policyholders' liabilities 3,620 2,689 2,547  
Less: Reinsurance recoverable (968) (465) (143)  
Net liability for future policy benefits, after reinsurance recoverable $ 2,652 $ 2,224 $ 2,404  
Weighted-average duration of liability for future policyholder benefits (years) 7 years 8 months 12 days 8 years 1 month 6 days 8 years 4 months 24 days  
Corporate and Other | Group Pension        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance $ 0 $ 0 $ 0  
Beginning balance at original discount rate 0 0 0  
Effect of changes in cash flow assumptions   0 0 0
Effect of actual variances from expected experience   0 0 0
Adjusted beginning of period balance   0 0 0
Issuances 0 0 0  
Interest accrual 0 0 0  
Net premiums collected 0 0 0  
Ending balance at original discount rate 0 0 0  
Effect of changes in discount rate assumptions 0 0 0  
Ending balance 0 0 0  
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Beginning balance 523 683 780  
Beginning balance at original discount rate 583 632 686  
Effect of changes in cash flow assumptions   0 0 (2)
Effect of actual variances from expected experience   0 1 1
Adjusted beginning of period balance   583 633 685
Issuances 0 0 0  
Interest accrual 20 21 23  
Benefits payments (67) (71) (76)  
Ending balance at original discount rate 536 583 632  
Effect of changes in discount rate assumptions (46) (60) 51  
Ending balance 490 523 683  
Impact of flooring LFPB at zero 0 0    
Future policy benefits and other policyholders' liabilities 490 523 683  
Less: Reinsurance recoverable 0 0 0  
Net liability for future policy benefits, after reinsurance recoverable $ 490 $ 523 $ 683  
Weighted-average duration of liability for future policyholder benefits (years) 7 years 1 month 6 days 7 years 2 months 12 days 7 years 2 months 12 days  
Corporate and Other | Health        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance $ (5) $ 22 $ 35  
Beginning balance at original discount rate (5) 19 29  
Effect of changes in cash flow assumptions   (6) (10) 0
Effect of actual variances from expected experience   (12) (15) (8)
Adjusted beginning of period balance   (23) (6) 21
Issuances 0 0 0  
Interest accrual (1) 0 1  
Net premiums collected 2 1 (3)  
Ending balance at original discount rate (22) (5) 19  
Effect of changes in discount rate assumptions 1 0 3  
Ending balance (21) (5) 22  
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Beginning balance 1,553 2,092 2,334  
Beginning balance at original discount rate 1,795 1,915 2,028  
Effect of changes in cash flow assumptions   (6) (5) 0
Effect of actual variances from expected experience   (22) (13) (4)
Adjusted beginning of period balance   1,767 1,897 $ 2,024
Issuances 0 0 0  
Interest accrual 57 61 65  
Benefits payments (152) (163) (174)  
Ending balance at original discount rate 1,672 1,795 1,915  
Effect of changes in discount rate assumptions (188) (242) 177  
Ending balance 1,484 1,553 2,092  
Impact of flooring LFPB at zero 0 0    
Future policy benefits and other policyholders' liabilities 1,505 1,558 2,070  
Less: Reinsurance recoverable (1,191) (1,242) (1,641)  
Net liability for future policy benefits, after reinsurance recoverable $ 314 $ 316 $ 429  
Weighted-average duration of liability for future policyholder benefits (years) 8 years 8 months 12 days 8 years 8 months 12 days 8 years 10 months 24 days