XML 50 R37.htm IDEA: XBRL DOCUMENT
v3.23.1

Market Risk Benefits (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Insurance [Abstract] |
Market Risk Benefit, Activity | The following table provides the balances of and changes in the Company’s market risk benefits for the three months ended March 31, 2023 and 2022 (dollars in millions):
|  | U.S. and Latin America – Financial Solutions
|  | Three months ended March 31,
|  | 2023 |  | 2022
Balance, beginning of year |  | $ | 247 |  |  | $ | 262 |
Balance, beginning of year, before effect of changes in the instrument-specific credit risk |  | 263 |  |  | 254 |
Interest accrual |  | 4 |  |  | — |
Attributed fees collected |  | 6 |  |  | 7 |
Benefit payments |  | — |  |  | (5) |
Effect of changes in interest rates |  | 21 |  |  | (61) |
Effect of changes in equity markets |  | (17) |  |  | 13 |
Effect of changes in volatility |  | (5) |  |  | 3 |
Other market impacts |  | — |  |  | 2 |
Actual policyholder behavior different from expected behavior |  | 5 |  |  | 6 |
Balance, end of period, before effect of changes in the instrument-specific credit risk |  | 277 |  |  | 219 |
Effect of changes in the instrument-specific credit risk |  | (18) |  |  | 14 |
Balance, end of period |  | 259 |  |  | 233 |
Less: reinsurance recoverable |  | — |  |  | — |
Balance, end of period, after reinsurance |  | $ | 259 |  |  | $ | 233 |
Net amount at risk |  | $ | 1,428 |  |  | $ | 1,220 |
Weighted-average attained age of contract holders (in years) |  | 71 |  | 68
The reconciliation of the rollforward for market risk benefits to the condensed consolidated balance sheets as of March 31, 2023 and 2022 is as follows (dollars in millions):
|  | March 31, |  | March 31,
|  | 2023 |  | 2022
|  | Asset (1) |  | Liability |  | Net |  | Asset (1) |  | Liability |  | Net
U.S. and Latin America – Financial Solutions |  | $ | 2 |  |  | $ | 261 |  |  | $ | (259) |  |  | $ | — |  |  | $ | 233 |  |  | $ | (233) |
Total market risk benefits |  | $ | 2 |  |  | $ | 261 |  |  | $ | (259) |  |  | $ | — |  |  | $ | 233 |  |  | $ | (233) |
(1)Included in Other assets

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of beginning balance to ending balance for contract or contract feature in long-duration contract issued by insurance entity that both protects contract holder from other-than-nominal capital market risk and exposes insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 29G -Publisher FASB -URI https://asc.fasb.org//1943274/2147480046/944-40-55-29G Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 7B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480081/944-40-50-7B + Details
Name: | us-gaap_MarketRiskBenefitActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration