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Separate Accounts (Tables) | 12 Months Ended
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Dec. 31, 2024
Separate Accounts Disclosure [Abstract] |
Schedule of Fair Value of Separate Account Assets | The following table presents the fair value of separate account assets (in millions) reported on the Consolidated Balance Sheets by major investment category:
| As of December 31,
| 2024 |  | 2023
Mutual funds and collective investment trusts | $ | 167,759 |  |  | $ | 157,578 |
Exchange-traded funds | 336 |  |  | 350 |
Fixed maturity AFS securities | 161 |  |  | 167 |
Cash and invested cash | 12 |  |  | 25 |
Other investments | 170 |  |  | 137 |
Total separate account assets | $ | 168,438 |  |  | $ | 158,257 |
Schedule of Reconciliation of Separate Account Liabilities | The following table reconciles separate account liabilities (in millions) to the Consolidated Balance Sheets:
| As of December 31,
| 2024 |  | 2023
Variable Annuities | $ | 117,998 |  |  | $ | 113,356 |
UL and Other | 28,841 |  |  | 25,150 |
Retirement Plan Services | 21,541 |  |  | 19,699 |
Other Operations (1) | 58 |  |  | 52 |
Total separate account liabilities | $ | 168,438 |  |  | $ | 158,257 |
(1) Represents separate account liabilities reported in Other Operations primarily attributable to the indemnity reinsurance agreements with Protective ($49 million and $46 million as of December 31, 2024 and December 31, 2023, respectively) that are excluded from the following tables.
Summary of Balances and changes in Separate Account Liabilities | The following table summarizes the balances of and changes in separate account liabilities (in millions):
| As of or For the Year Ended December 31, 2024 |  | As of or For the Year Ended December 31, 2023
| Variable Annuities |  | UL and Other |  | Retirement Plan Services |  | Variable Annuities |  | UL and Other |  | Retirement Plan Services
Balance as of beginning-of-year | $ | 113,356 |  |  | $ | 25,150 |  |  | $ | 19,699 |  |  | $ | 105,573 |  |  | $ | 20,920 |  |  | $ | 16,996 |
Gross deposits | 4,765 |  |  | 1,483 |  |  | 2,302 |  |  | 2,982 |  |  | 1,630 |  |  | 2,222 |
Withdrawals | (14,074) |  |  | (477) |  |  | (3,378) |  |  | (10,177) |  |  | (313) |  |  | (2,527) |
Policyholder assessments | (2,639) |  |  | (995) |  |  | (182) |  |  | (2,510) |  |  | (964) |  |  | (163) |
Change in market performance | 15,548 |  |  | 3,876 |  |  | 3,072 |  |  | 16,870 |  |  | 3,973 |  |  | 3,221 |
Net transfers from (to) general account | 1,042 |  |  | (196) |  |  | 28 |  |  | 618 |  |  | (96) |  |  | (50) |
Balance as of end-of-year | $ | 117,998 |  |  | $ | 28,841 |  |  | $ | 21,541 |  |  | $ | 113,356 |  |  | $ | 25,150 |  |  | $ | 19,699 |
Cash surrender value | $ | 116,612 |  |  | $ | 26,435 |  |  | $ | 21,526 |  |  | $ | 111,928 |  |  | $ | 22,760 |  |  | $ | 19,684 |

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