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v3.25.1

MRBs - Summary of Balances of Changes in Net MRB (Assets) Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Market Risk Benefit [Roll Forward] |  |
Balance as of beginning-of-year | $ (3,814) |
Balance as of end-of-period | (2,851) |
Variable Annuities |  |
Market Risk Benefit [Roll Forward] |  |
Balance as of beginning-of-year | (3,804) | $ (2,180)
Balance as of beginning-of-period, before the effect of changes in non-performance risk | (3,651) | (881)
Issuances | 5 | 3
Attributed fees collected | 373 | 380
Benefit payments | (6) | (11)
Effect of changes in interest rates | 396 | (1,081)
Effect of changes in equity markets | 456 | (1,343)
Effect of changes in equity index volatility | 31 | 4
In-force updates and other changes in MRBs | 59 | 51
Balance as of end-of-year, before the effect of changes in non-performance risk | (2,337) | (2,878)
Effect of cumulative changes in non-performance risk | (539) | (726)
Balance as of end-of-period | (2,876) | (3,604)
Less: Ceded MRB assets (liabilities) | (312) | (358)
Balance as of end-of-period, net of reinsurance | $ (2,564) | $ (3,246)
Weighted-average age of policyholders (years) | 73 years | 72 years
Net amount at risk | $ 2,518 | $ 2,056
Variable Annuities | Cumulative Effect, Period of Adoption, Adjustment |  |
Market Risk Benefit [Roll Forward] |  |
Balance as of beginning-of-year | (153) | (1,299)
Fixed Annuities |  |
Market Risk Benefit [Roll Forward] |  |
Balance as of beginning-of-year | 32 | 32
Balance as of beginning-of-period, before the effect of changes in non-performance risk | 65 | 90
Issuances | 0 | 0
Attributed fees collected | 8 | 9
Benefit payments | 0 | 0
Effect of changes in interest rates | 39 | (17)
Effect of changes in equity markets | 2 | (11)
Effect of changes in equity index volatility | 0 | (2)
In-force updates and other changes in MRBs | (2) | 1
Balance as of end-of-year, before the effect of changes in non-performance risk | 112 | 70
Effect of cumulative changes in non-performance risk | (48) | (43)
Balance as of end-of-period | 64 | 27
Less: Ceded MRB assets (liabilities) | 0 | 0
Balance as of end-of-period, net of reinsurance | $ 64 | $ 27
Weighted-average age of policyholders (years) | 70 years | 69 years
Net amount at risk | $ 255 | $ 210
Fixed Annuities | Cumulative Effect, Period of Adoption, Adjustment |  |
Market Risk Benefit [Roll Forward] |  |
Balance as of beginning-of-year | (33) | (58)
Retirement Plan Services |  |
Market Risk Benefit [Roll Forward] |  |
Balance as of beginning-of-year | (42) | (30)
Balance as of beginning-of-period, before the effect of changes in non-performance risk | (42) | (26)
Issuances | 0 | 0
Attributed fees collected | 1 | 2
Benefit payments | 0 | 0
Effect of changes in interest rates | 1 | (6)
Effect of changes in equity markets | 2 | (4)
Effect of changes in equity index volatility | 0 | 0
In-force updates and other changes in MRBs | 1 | 1
Balance as of end-of-year, before the effect of changes in non-performance risk | (37) | (33)
Effect of cumulative changes in non-performance risk | (2) | (2)
Balance as of end-of-period | (39) | (35)
Less: Ceded MRB assets (liabilities) | 0 | 0
Balance as of end-of-period, net of reinsurance | $ (39) | $ (35)
Weighted-average age of policyholders (years) | 63 years | 63 years
Net amount at risk | $ 4 | $ 3
Retirement Plan Services | Cumulative Effect, Period of Adoption, Adjustment |  |
Market Risk Benefit [Roll Forward] |  |
Balance as of beginning-of-year | $ 0 | $ (4)

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- Definition Amount, before tax, of accumulated other comprehensive income (loss) (AOCI) from (increase) decrease in instrument-specific credit risk on contract or contract feature in long-duration contract issued by insurance entity protecting contract holder from other-than-nominal capital market risk and exposing insurance entity to other-than-nominal capital market risk. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 Reference 2: 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 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 13K -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-13K + Details
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- Definition Amount of cash inflow to 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 from attributed fee collected. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -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 Reference 2: 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 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 13K -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480046/944-40-55-13K + Details
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- Definition Amount of guaranteed benefit in excess of current account balance of 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/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 7B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-7B + Details
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