XML 94 R80.htm IDEA: XBRL DOCUMENT v3.24.2.u1
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance (Details) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits $ 17,417   $ 17,363  
Term        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 1,297   1,348  
Payout - Non-Legacy        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 802   844  
Payout - Legacy        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 3,900   3,620  
Group Pension        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 457   490  
Health        
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]        
Liability for future policy benefits 1,414   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     (51) 4
Adjusted beginning of period balance     1,989 2,090
Issuances 26 32    
Interest accrual 49 50    
Net premiums collected (95) (100)    
Ending balance at original discount rate 1,969 2,072    
Effect of changes in discount rate assumptions (21) 36    
Ending balance 1,948 2,108    
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     (66) 5
Adjusted beginning of period balance     3,244 3,405
Issuances 28 34    
Interest accrual 82 84    
Benefits payments (116) (183)    
Ending Balance at original discount rate 3,238 3,340    
Effect of changes in discount rate assumptions 6 91    
Balance, end of period 3,244 3,431    
Impact of flooring LFPB at zero 1 1    
Liability for future policy benefits 1,297 1,324    
Less: Reinsurance recoverable 14 24    
Net liability for future policy benefits, after reinsurance recoverable $ 1,311 $ 1,348    
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     0 0
Effect of actual variances from expected experience     (2) 0
Adjusted beginning of period balance     838 845
Issuances 22 26    
Interest accrual 20 19    
Benefits payments (47) (46)    
Ending Balance at original discount rate 833 844    
Effect of changes in discount rate assumptions (31) (10)    
Balance, end of period 802 834    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 802 834    
Less: Reinsurance recoverable (1) 0    
Net liability for future policy benefits, after reinsurance recoverable $ 801 $ 834    
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     0 0
Adjusted beginning of period balance     3,840 3,024
Issuances 500 473    
Interest accrual 69 44    
Benefits payments (181) (131)    
Ending Balance at original discount rate 4,228 3,410    
Effect of changes in discount rate assumptions (328) (309)    
Balance, end of period 3,900 3,101    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 3,900 3,101    
Less: Reinsurance recoverable (1,143) (680)    
Net liability for future policy benefits, after reinsurance recoverable $ 2,757 $ 2,421    
Weighted-average duration of liability for future policyholder benefits (years) 7 years 6 months 7 years 9 months 18 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 0
Adjusted beginning of period balance     537 583
Issuances 0 0    
Interest accrual 9 10    
Benefits payments (31) (34)    
Ending Balance at original discount rate 515 559    
Effect of changes in discount rate assumptions (58) (56)    
Balance, end of period 457 503    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 457 503    
Less: Reinsurance recoverable 0 0    
Net liability for future policy benefits, after reinsurance recoverable $ 457 $ 503    
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     (3) (1)
Effect of actual variances from expected experience     2 (6)
Adjusted beginning of period balance     (23) (12)
Issuances 0 0    
Interest accrual 0 0    
Net premiums collected 1 1    
Ending balance at original discount rate (22) (11)    
Effect of changes in discount rate assumptions 1 0    
Ending balance (21) (11)    
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 (1)
Effect of actual variances from expected experience     7 (6)
Adjusted beginning of period balance     $ 1,679 $ 1,788
Issuances 0 0    
Interest accrual 27 29    
Benefits payments (79) (71)    
Ending Balance at original discount rate 1,627 1,746    
Effect of changes in discount rate assumptions (234) (224)    
Balance, end of period 1,393 1,522    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 1,414 1,533    
Less: Reinsurance recoverable (1,116) (1,217)    
Net liability for future policy benefits, after reinsurance recoverable $ 298 $ 316    
Weighted-average duration of liability for future policyholder benefits (years) 8 years 7 months 6 days 8 years 9 months 18 days