XML 90 R78.htm IDEA: XBRL DOCUMENT v3.24.1.u1
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits $ 17,324   $ 17,363  
Term        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 1,316   1,348  
Payout - Non-Legacy        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 820   844  
Payout - Legacy        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 3,767   3,620  
Group Pension        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 473   490  
Health        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 1,450   1,505  
Operating Segments | Protection Solutions | Term        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance 2,133 $ 2,100    
Beginning balance at original discount rate 2,058 2,078    
Effect of changes in cash flow assumptions     (18) $ 8
Effect of actual variances from expected experience     (18) 3
Adjusted beginning of period balance     2,022 2,089
Issuances 11 15    
Interest accrual 25 25    
Net premiums collected (49) (51)    
Ending balance at original discount rate 2,009 2,078    
Effect of changes in discount rate assumptions 17 82    
Ending balance 2,026 2,160    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Balance, beginning of period 3,480 3,465    
Beginning balance of original discount rate 3,330 3,391    
Effect of changes in cash flow assumptions     (20) 9
Effect of actual variances from expected experience     (23) 4
Adjusted beginning of period balance     3,287 3,404
Issuances 12 16    
Interest accrual 41 42    
Benefits payments (64) (95)    
Ending Balance at original discount rate 3,276 3,367    
Effect of changes in discount rate assumptions 65 164    
Balance, end of period 3,341 3,531    
Impact of flooring LFPB at zero 1 0    
Liability for future policy benefits 1,316 1,371    
Less: Reinsurance recoverable 24 27    
Net liability for future policy benefits, after reinsurance recoverable $ 1,340 $ 1,398    
Weighted-average duration of liability for future policyholder benefits (years) 6 years 10 months 24 days 7 years    
Operating Segments | Individual Retirement | Payout - Non-Legacy        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance $ 0 $ 0    
Beginning balance at original discount rate 0 0    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     0 0
Adjusted beginning of period balance     0 0
Issuances 0 0    
Interest accrual 0 0    
Net premiums collected 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions 0 0    
Ending balance 0 0    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Balance, beginning of period 844 828    
Beginning balance of original discount rate 840 845    
Effect of changes in cash flow assumptions     (1) 0
Effect of actual variances from expected experience     (1) 1
Adjusted beginning of period balance     838 846
Issuances 11 15    
Interest accrual 10 10    
Benefits payments (23) (23)    
Ending Balance at original discount rate 836 848    
Effect of changes in discount rate assumptions (16) 6    
Balance, end of period 820 854    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 820 854    
Less: Reinsurance recoverable (1) 0    
Net liability for future policy benefits, after reinsurance recoverable $ 819 $ 854    
Weighted-average duration of liability for future policyholder benefits (years) 9 years 3 months 18 days 9 years 4 months 24 days    
Operating Segments | Legacy | Payout - Legacy        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance $ 0 $ 0    
Beginning balance at original discount rate 0 0    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     0 0
Adjusted beginning of period balance     0 0
Issuances 0 0    
Interest accrual 0 0    
Net premiums collected 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions 0 0    
Ending balance 0 0    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Balance, beginning of period 3,620 2,689    
Beginning balance of original discount rate 3,840 3,024    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     (2) 0
Adjusted beginning of period balance     3,838 3,024
Issuances 269 222    
Interest accrual 35 21    
Benefits payments (89) (65)    
Ending Balance at original discount rate 4,053 3,202    
Effect of changes in discount rate assumptions (286) (258)    
Balance, end of period 3,767 2,944    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 3,767 2,944    
Less: Reinsurance recoverable (1,068) (589)    
Net liability for future policy benefits, after reinsurance recoverable $ 2,699 $ 2,355    
Weighted-average duration of liability for future policyholder benefits (years) 7 years 7 months 6 days 7 years 10 months 24 days    
Corporate and Other | Group Pension        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance $ 0 $ 0    
Beginning balance at original discount rate 0 0    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     0 0
Adjusted beginning of period balance     0 0
Issuances 0 0    
Interest accrual 0 0    
Net premiums collected 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions 0 0    
Ending balance 0 0    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Balance, beginning of period 490 523    
Beginning balance of original discount rate 536 583    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     1 (1)
Adjusted beginning of period balance     537 582
Issuances 0 0    
Interest accrual 5 5    
Benefits payments (16) (17)    
Ending Balance at original discount rate 526 570    
Effect of changes in discount rate assumptions (53) (48)    
Balance, end of period 473 522    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 473 522    
Less: Reinsurance recoverable 0 0    
Net liability for future policy benefits, after reinsurance recoverable $ 473 $ 522    
Weighted-average duration of liability for future policyholder benefits (years) 7 years 7 years 1 month 6 days    
Corporate and Other | Health        
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]        
Beginning balance $ (21) $ (5)    
Beginning balance at original discount rate (22) (5)    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     1 (6)
Adjusted beginning of period balance     (21) (11)
Issuances 0 0    
Interest accrual 0 0    
Net premiums collected 1 1    
Ending balance at original discount rate (20) (10)    
Effect of changes in discount rate assumptions 1 0    
Ending balance (19) (10)    
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Balance, beginning of period 1,484 1,553    
Beginning balance of original discount rate 1,672 1,795    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     1 (7)
Adjusted beginning of period balance     $ 1,673 $ 1,788
Issuances 0 0    
Interest accrual 14 15    
Benefits payments (41) (33)    
Ending Balance at original discount rate 1,646 1,770    
Effect of changes in discount rate assumptions (215) (197)    
Balance, end of period 1,431 1,573    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 1,450 1,583    
Less: Reinsurance recoverable (1,147) (1,258)    
Net liability for future policy benefits, after reinsurance recoverable $ 303 $ 325    
Weighted-average duration of liability for future policyholder benefits (years) 8 years 7 months 6 days 8 years 8 months 12 days