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Consolidated Statements of Income (Loss) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUES    
Policy charges and fee income $ 636 $ 614
Premiums 304 285
Net derivative gains (losses) 799 (1,376)
Net investment income (loss) 1,248 1,210
Investment gains (losses), net:    
Credit and intent to sell losses on available for sale debt securities and loans 0 (20)
Other investment gains (losses), net (14) (19)
Total investment gains (losses), net (14) (39)
Investment management and service fees 1,285 1,278
Other income 318 258
Total revenues 4,576 2,230
BENEFITS AND OTHER DEDUCTIONS    
Policyholders’ benefits 759 677
Remeasurement of liability for future policy benefits (2) 5
Change in market risk benefits and purchased market risk benefits 672 (1,088)
Interest credited to policyholders’ account balances 678 579
Compensation and benefits 601 620
Commissions and distribution-related payments 501 437
Interest expense 55 57
Amortization of deferred policy acquisition costs 188 172
Other operating costs and expenses 950 552
Total benefits and other deductions 4,402 2,011
Income (loss) from continuing operations, before income taxes 174 219
Income tax (expense) benefit (24) (24)
Net income (loss) 150 195
Less: Net income (loss) attributable to the noncontrolling interest [1] 87 103
Net income (loss) attributable to Holdings 63 92
Less: Preferred stock dividends 14 14
Net income (loss) available to Holdings’ common shareholders, basic 49 78
Net income (loss) available to Holdings’ common shareholders, diluted $ 49 $ 78
Net income (loss) applicable to Holdings’ common shareholders per common share:    
Basic (in dollars per share) $ 0.16 $ 0.24
Diluted (in dollars per share) $ 0.16 $ 0.23
Weighted average common shares outstanding (in millions):    
Basic (in shares) 307.8 330.2
Diluted (in shares) 311.9 332.7
[1] Includes redeemable noncontrolling interest. See Note 15 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.