XML 92 R80.htm IDEA: XBRL DOCUMENT v3.24.3
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Present Value of Expected Future Policy Benefits        
Liability for future policy benefits $ 17,936   $ 17,363  
Term        
Present Value of Expected Future Policy Benefits        
Liability for future policy benefits 1,367   1,348  
Payout        
Present Value of Expected Future Policy Benefits        
Liability for future policy benefits 5,103   4,464  
Group Pension        
Present Value of Expected Future Policy Benefits        
Liability for future policy benefits 487   490  
Health        
Present Value of Expected Future Policy Benefits        
Liability for future policy benefits 1,448   1,505  
Operating Segments | Protection Solutions | Term        
Present Value of Expected Net Premiums        
Balance, beginning of period 2,133 $ 2,100    
Beginning balance at original discount rate 2,058 2,078    
Effect of changes in cash flow assumptions     21 $ 32
Effect of actual variances from expected experience     (79) (14)
Adjusted beginning of period balance     2,000 2,096
Issuances 40 49    
Interest accrual 73 75    
Net premiums collected (139) (147)    
Ending Balance at original discount rate 1,974 2,073    
Effect of changes in discount rate assumptions 79 (82)    
Balance, end of period 2,053 1,991    
Present Value of Expected Future Policy Benefits        
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     39 40
Effect of actual variances from expected experience     (101) (16)
Adjusted beginning of period balance     3,268 3,415
Issuances 43 53    
Interest accrual 123 126    
Benefits payments (182) (254)    
Ending Balance at original discount rate 3,252 3,340    
Effect of changes in discount rate assumptions 167 (84)    
Balance, end of period 3,419 3,256    
Impact of flooring LFPB at zero 1 1    
Liability for future policy benefits 1,367 1,266    
Less: Reinsurance recoverable 3 25    
Net liability for future policy benefits, after reinsurance recoverable $ 1,370 $ 1,291    
Weighted-average duration of liability for future policyholder benefits (years) 6 years 9 months 18 days 7 years 1 month 6 days    
Operating Segments | Individual Retirement | Payout        
Present Value of Expected Net Premiums        
Balance, beginning of period $ 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    
Balance, end of period 0 0    
Present Value of Expected Future Policy Benefits        
Balance, beginning of period 4,464 3,517    
Beginning balance of original discount rate 4,680 3,869    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     (1) 1
Adjusted beginning of period balance     4,679 3,870
Issuances 765 771    
Interest accrual 131 94    
Benefits payments (342) (268)    
Ending Balance at original discount rate 5,233 4,467    
Effect of changes in discount rate assumptions (130) (486)    
Balance, end of period 5,103 3,981    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 5,103 3,981    
Less: Reinsurance recoverable (1,299) (777)    
Net liability for future policy benefits, after reinsurance recoverable $ 3,804 $ 3,204    
Weighted-average duration of liability for future policyholder benefits (years) 7 years 9 months 18 days 8 years 1 month 6 days    
Corporate and Other | Group Pension        
Present Value of Expected Net Premiums        
Balance, beginning of period $ 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    
Balance, end of period 0 0    
Present Value of Expected Future Policy Benefits        
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     2 0
Adjusted beginning of period balance     538 583
Issuances 21 0    
Interest accrual 14 15    
Benefits payments (47) (50)    
Ending Balance at original discount rate 526 548    
Effect of changes in discount rate assumptions (39) (73)    
Balance, end of period 487 475    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 487 475    
Less: Reinsurance recoverable 0 0    
Net liability for future policy benefits, after reinsurance recoverable $ 487 $ 475    
Weighted-average duration of liability for future policyholder benefits (years) 7 years 7 years 1 month 6 days    
Corporate and Other | Health        
Present Value of Expected Net Premiums        
Balance, beginning of period $ (21) $ (5)    
Beginning balance at original discount rate (22) (5)    
Effect of changes in cash flow assumptions     (3) (8)
Effect of actual variances from expected experience     (5) (6)
Adjusted beginning of period balance     (30) (19)
Issuances 0 0    
Interest accrual (1) (1)    
Net premiums collected 3 2    
Ending Balance at original discount rate (28) (18)    
Effect of changes in discount rate assumptions 1 1    
Balance, end of period (27) (17)    
Present Value of Expected Future Policy Benefits        
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 (12)
Effect of actual variances from expected experience     (12) (5)
Adjusted beginning of period balance     $ 1,660 $ 1,778
Issuances 0 0    
Interest accrual 41 43    
Benefits payments (122) (111)    
Ending Balance at original discount rate 1,579 1,710    
Effect of changes in discount rate assumptions (158) (290)    
Balance, end of period 1,421 1,420    
Impact of flooring LFPB at zero 0 0    
Liability for future policy benefits 1,448 1,437    
Less: Reinsurance recoverable (1,136) (1,145)    
Net liability for future policy benefits, after reinsurance recoverable $ 312 $ 292    
Weighted-average duration of liability for future policyholder benefits (years) 8 years 6 months 8 years 8 months 12 days