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v3.24.3

Future Contract Benefits - Summary of Changes in Present Values of LFPB (UL and Other) (Details) - UL and Other - USD ($) $ in Millions | 9 Months Ended |  |
--- | --- | --- | ---
Sep. 30, 2024 | Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022
Present Value of Expected LFPB |  |  |  |
Balance as of beginning-of-year | $ 15,000 | $ 14,818 |  |
Effect of cumulative changes in shadow balance in AOCI | (1,863) | (897) | $ (2,222) | $ (905)
Balance as of beginning-of-year, excluding shadow balance in AOCI | 17,222 | 15,723 |  |
Effect of changes in cash flow assumptions |  |  | 244 | 173
Effect of actual variances from expected experience |  |  | $ 170 | $ (28)
Adjusted balance as of beginning-of-year | 17,636 | 15,868 |  |
Interest accrual | 639 | 573 |  |
Net assessments collected | 860 | 895 |  |
Benefit payments | (718) | (473) |  |
Balance as of end-of-year, excluding shadow balance in AOCI | 18,417 | 16,863 |  |
Balance as of end-of-period | 16,554 | 15,965 |  |
Less: reinsurance recoverables | 5,139 | 654 |  |
Net balance as of end-of-period, net of reinsurance | $ 11,415 | $ 15,311 |  |
Weighted-average duration of future policyholder benefit liability | 16 years | 17 years |  |

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