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MARKET RISK BENEFITS - Changes in the Market Risk Benefits for Deferred Variable Annuities (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Individual Retirement | GMxB Core        
Market Risk Benefit [Roll Forward]        
Balance, beginning of period $ 404 $ 131 $ 590 $ 530
Balance BOP before changes in the instrument specific credit risk 119 351 322 529
Model changes and effect of changes in cash flow assumptions 88 20 86 20
Actual market movement effect (195) 202 (359) (128)
Interest accrual 13 22 44 60
Attributed fees accrued 99 100 305 306
Benefit payments (10) (11) (31) (35)
Actual policyholder behavior different from expected behavior 10 7 24 19
Changes in future economic assumptions 164 (411) (101) (488)
Issuances 0 0 (2) (3)
Balance EOP before changes in the instrument-specific credit risk 288 280 288 280
Changes in the instrument-specific credit risk 279 38 279 38
Balance, end of period $ 567 $ 318 $ 567 $ 318
Weighted-average age of policyholders (years) 65 years 1 month 6 days 64 years 2 months 12 days 65 years 1 month 6 days 64 years 2 months 12 days
Net amount at risk $ 2,606 $ 3,598 $ 2,606 $ 3,598
Legacy | GMxB Legacy        
Market Risk Benefit [Roll Forward]        
Balance, beginning of period 11,418 12,720 13,418 14,699
Balance BOP before changes in the instrument specific credit risk 10,898 14,142 13,028 15,314
Model changes and effect of changes in cash flow assumptions (70) (11) (78) (11)
Actual market movement effect (596) 718 (1,339) (662)
Interest accrual 141 213 455 604
Attributed fees accrued 201 212 599 630
Benefit payments (301) (322) (933) (1,008)
Actual policyholder behavior different from expected behavior (8) (13) (31) 1
Changes in future economic assumptions 1,098 (2,609) (338) (2,538)
Issuances 0 0 0 0
Balance EOP before changes in the instrument-specific credit risk 11,363 12,330 11,363 12,330
Changes in the instrument-specific credit risk 541 (349) 541 (349)
Balance, end of period $ 11,904 $ 11,981 $ 11,904 $ 11,981
Weighted-average age of policyholders (years) 73 years 6 months 72 years 10 months 24 days 73 years 6 months 72 years 10 months 24 days
Net amount at risk $ 18,977 $ 23,123 $ 18,977 $ 23,123
Legacy | Purchased MRB        
Market Risk Benefit [Roll Forward]        
Balance, beginning of period (7,989) (9,923) (9,420) (10,415)
Balance BOP before changes in the instrument specific credit risk (7,970) (9,827) (9,387) (10,358)
Model changes and effect of changes in cash flow assumptions (25) (33) 125 (33)
Actual market movement effect 302 (300) 700 402
Interest accrual (105) (150) (328) (437)
Attributed fees accrued (63) (66) (199) (207)
Benefit payments 174 190 505 560
Actual policyholder behavior different from expected behavior (2) (2) (3) (28)
Changes in future economic assumptions (771) 1,511 127 1,424
Issuances 0 0 0 0
Balance EOP before changes in the instrument-specific credit risk (8,460) (8,677) (8,460) (8,677)
Changes in the instrument-specific credit risk (28) (61) (28) (61)
Balance, end of period $ (8,488) $ (8,738) $ (8,488) $ (8,738)
Weighted-average age of policyholders (years) 73 years 72 years 6 months 73 years 72 years 6 months
Net amount at risk $ 10,159 $ 12,188 $ 10,159 $ 12,188
Legacy | Net Legacy        
Market Risk Benefit [Roll Forward]        
Balance, beginning of period 3,429 2,797 3,998 4,284
Balance BOP before changes in the instrument specific credit risk 2,928 4,315 3,641 4,956
Model changes and effect of changes in cash flow assumptions (95) (44) 47 (44)
Actual market movement effect (294) 418 (639) (260)
Interest accrual 36 63 127 167
Attributed fees accrued 138 146 400 423
Benefit payments (127) (132) (428) (448)
Actual policyholder behavior different from expected behavior (10) (15) (34) (27)
Changes in future economic assumptions 327 (1,098) (211) (1,114)
Issuances 0 0 0 0
Balance EOP before changes in the instrument-specific credit risk 2,903 3,653 2,903 3,653
Changes in the instrument-specific credit risk 513 (410) 513 (410)
Balance, end of period $ 3,416 $ 3,243 $ 3,416 $ 3,243