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Segments (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Reconciliation of Operating Earnings Before Income Taxes from Segments to Consolidated | The summary below reconciles Adjusted operating earnings before income taxes for the segments to Income (loss) before income taxes for the periods indicated:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Adjusted operating earnings before income taxes by segment: |  |  |  |  |  |  |  |  |  |  |
Wealth Solutions | $ | 214 |  |  | $ | 174 |  |  |  |  | $ | 400 |  |  | $ | 306 |  |  |
Health Solutions | 60 |  |  | 124 |  |  |  |  | 119 |  |  | 218 |  |  |
Investment Management | 64 |  |  | 63 |  |  |  |  | 117 |  |  | 105 |  |  |
Corporate | (54) |  |  | (54) |  |  |  |  | (118) |  |  | (123) |  |  |
Total including Allianz noncontrolling interest | 284 |  |  | 307 |  |  |  |  | 518 |  |  | 507 |  |  |
Less: Earning (loss) attributable to Allianz noncontrolling interest | 13 |  |  | 13 |  |  |  |  | 24 |  |  | 21 |  |  |
Total | $ | 271 |  |  | $ | 294 |  |  |  |  | $ | 494 |  |  | $ | 486 |  |  |
Adjustments: |  |  |  |  |  |  |  |  |  |  |
Net investment gains (losses) | 20 |  |  | (38) |  |  |  |  | 84 |  |  | (47) |  |  |
Income (loss) related to businesses exited or to be exited through reinsurance or divestment | (37) |  |  | (21) |  |  |  |  | (69) |  |  | (54) |  |  |
Income (loss) attributable to noncontrolling interests | 30 |  |  | 77 |  |  |  |  | 67 |  |  | 123 |  |  |
Dividend payments made to preferred shareholders | 4 |  |  | 4 |  |  |  |  | 21 |  |  | 18 |  |  |
Other adjustments | (12) |  |  | (52) |  |  |  |  | (35) |  |  | (122) |  |  |
Total adjustments to income (loss) before income taxes | 5 |  |  | (31) |  |  |  |  | 68 |  |  | (82) |  |  |
Income (loss) before income taxes | $ | 276 |  |  | $ | 263 |  |  |  |  | $ | 563 |  |  | $ | 404 |  |  |
Reconciliation of Revenue from Segments to Total Revenues | The summary below reconciles Adjusted operating revenues for the segments to Total revenues for the periods indicated:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Adjusted operating revenues by segment: |  |  |  |  |  |  |
Wealth Solutions | $ | 730 |  |  | $ | 705 |  |  | $ | 1,450 |  |  | $ | 1,389 |
Health Solutions | 892 |  |  | 775 |  |  | 1,798 |  |  | 1,549 |
Investment Management | 234 |  |  | 226 |  |  | 468 |  |  | 455 |
Corporate | 4 |  |  | 15 |  |  | 9 |  |  | 26 |
Total | $ | 1,860 |  |  | $ | 1,721 |  |  | $ | 3,724 |  |  | $ | 3,419 |
Adjustments: |  |  |  |  |  |  |
Net investment gains (losses) | 16 |  |  | (46) |  |  | 62 |  |  | (60) |
Revenues related to businesses exited or to be exited through reinsurance or divestment | 13 |  |  | 2 |  |  | 37 |  |  | 32 |
Revenues attributable to noncontrolling interests | 102 |  |  | 128 |  |  | 167 |  |  | 188 |
Other adjustments | 42 |  |  | 67 |  |  | 93 |  |  | 127 |
Total adjustments to revenues | 173 |  |  | 151 |  |  | 360 |  |  | 288 |
Total revenues | $ | 2,033 |  |  | $ | 1,871 |  |  | $ | 4,084 |  |  | $ | 3,706 |
Schedule of Intersegment Revenues Included in Investment Management Segment | The Investment Management segment revenues include the following intersegment revenues, primarily consisting of asset-based management and administration fees for the periods indicated:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Investment Management intersegment revenues | $ | 19 |  |  | $ | 22 |  |  | $ | 39 |  |  | $ | 44 |
Summary of Financial Information for Segments | The summary below presents Total assets for the Company’s segments as of the dates indicated:
| June 30, 2024 |  | December 31, 2023
Wealth Solutions | $ | 126,897 |  |  | $ | 122,318 |
Health Solutions | 3,430 |  |  | 3,336 |
Investment Management | 1,753 |  |  | 1,600 |
Corporate | 25,083 |  |  | 25,527 |
Total assets, before consolidation(1) | 157,163 |  |  | 152,781 |
Consolidation of investment entities | 4,117 |  |  | 4,304 |
Total assets | $ | 161,280 |  |  | $ | 157,085 |
(1) Total assets, before consolidation include the Company's direct investments in CIEs prior to consolidation, which are accounted for using the equity method or fair value option.

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