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Market Risk Benefits (Tables) | 12 Months Ended
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Dec. 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 years ended December 31, 2023 and 2022 (dollars in millions):
|  | U.S. and Latin America – Financial Solutions
|  | For the year ended December 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 |  | 14 |  |  | 54 |
Attributed fees collected |  | 25 |  |  | 28 |
Benefit payments |  | (1) |  |  | (9) |
Effect of changes in future assumptions |  | 16 |  |  | 18 |
Effect of changes in interest rates |  | (5) |  |  | (175) |
Effect of changes in equity markets |  | (52) |  |  | 48 |
Effect of changes in volatility |  | (6) |  |  | 19 |
Other market impacts |  | (15) |  |  | 7 |
Actual policyholder behavior different from expected behavior |  | 14 |  |  | 19 |
Balance, end of period, before effect of changes in the instrument-specific credit risk |  | 253 |  |  | 263 |
Effect of changes in the instrument-specific credit risk |  | (4) |  |  | (16) |
Balance, end of period |  | 249 |  |  | 247 |
Less: reinsurance recoverable |  | — |  |  | — |
Balance, end of period, after reinsurance |  | $ | 249 |  |  | $ | 247 |
Net amount at risk |  | $ | 1,401 |  |  | $ | 1,630 |
Weighted-average attained age of contract holders (in years) |  | 71 |  | 66
The reconciliation of the rollforward for market risk benefits to the consolidated balance sheets as of December 31, 2023 and 2022 is as follows (dollars in millions):
|  | December 31, |  | December 31,
|  | 2023 |  | 2022
|  | Asset (1) |  | Liability |  | Net |  | Asset (1) |  | Liability |  | Net
U.S. and Latin America – Financial Solutions |  | $ | 9 |  |  | $ | 258 |  |  | $ | (249) |  |  | $ | — |  |  | $ | 247 |  |  | $ | (247) |
Total market risk benefits |  | $ | 9 |  |  | $ | 258 |  |  | $ | (249) |  |  | $ | — |  |  | $ | 247 |  |  | $ | (247) |
(1)Included in Other assets.

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- 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
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