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Reinsurance (Tables) | 9 Months Ended
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Sep. 30, 2025
Insurance [Abstract] |
Effects of Reinsurance | Information regarding the effect of reinsurance on the Condensed Consolidated Balance Sheets is as follows as of the periods indicated:
| Direct |  | Assumed (1) |  | Ceded |  | Total, Net of Reinsurance
September 30, 2025 |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |
Premium receivable | $ | 202 |  |  | $ | 9 |  |  | $ | (221) |  |  | $ | (10) |
Reinsurance recoverable, net of allowance for credit losses | — |  |  | — |  |  | 10,845 |  |  | 10,845 |
Total | $ | 202 |  |  | $ | 9 |  |  | $ | 10,624 |  |  | $ | 10,835 |
Liabilities |  |  |  |  |  |  |
Future policy benefits and contract owner account balances | $ | 45,162 |  |  | $ | 4,175 |  |  | $ | — |  |  | $ | 49,337 |
Total | $ | 45,162 |  |  | $ | 4,175 |  |  | $ | — |  |  | $ | 49,337 |
December 31, 2024 |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |
Premium receivable | $ | 205 |  |  | $ | 10 |  |  | $ | (238) |  |  | $ | (23) |
Reinsurance recoverable, net of allowance for credit losses | — |  |  | — |  |  | 11,307 |  |  | 11,307 |
Total | $ | 205 |  |  | $ | 10 |  |  | $ | 11,069 |  |  | $ | 11,284 |
Liabilities |  |  |  |  |  |  |
Future policy benefits and contract owner account balances | $ | 45,540 |  |  | $ | 896 |  |  | $ | — |  |  | $ | 46,436 |
Total | $ | 45,540 |  |  | $ | 896 |  |  | $ | — |  |  | $ | 46,436 |
(1) As of September 30, 2025, Future policy benefits and contract owner account balances include $3.3 billion of investment contracts assumed related to the acquisition of OneAmerica Financial's full-service retirement plan business. Information regarding the effect of reinsurance on the Condensed Consolidated Statements of Operations is as follows for the periods indicated:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Premiums: |  |  |  |  |  |  |
Direct premiums | $ | 943 |  |  | $ | 1,016 |  |  | $ | 2,857 |  |  | $ | 3,070 |
Reinsurance assumed | 6 |  |  | 6 |  |  | 17 |  |  | 17 |
Reinsurance ceded | (230) |  |  | (226) |  |  | (700) |  |  | (701) |
Net premiums | $ | 719 |  |  | $ | 796 |  |  | $ | 2,174 |  |  | $ | 2,386 |
Fee income: |  |  |  |  |  |  |
Direct fee income | $ | 688 |  |  | $ | 634 |  |  | $ | 1,984 |  |  | $ | 1,854 |
Reinsurance assumed | 29 |  |  | 4 |  |  | 79 |  |  | 12 |
Reinsurance ceded | (101) |  |  | (98) |  |  | (300) |  |  | (296) |
Net fee income | $ | 616 |  |  | $ | 540 |  |  | $ | 1,763 |  |  | $ | 1,570 |
Interest credited and other benefits to contract owners / policyholders: |  |  |  |  |  |  |
Direct interest credited and other benefits to contract owners / policyholders | $ | 1,190 |  |  | $ | 1,233 |  |  | $ | 3,442 |  |  | $ | 3,571 |
Reinsurance assumed | 34 |  |  | 7 |  |  | 94 |  |  | 43 |
Reinsurance ceded | (374) |  |  | (302) |  |  | (1,050) |  |  | (982) |
Net interest credited and other benefits to contract owners / policyholders | $ | 850 |  |  | $ | 938 |  |  | $ | 2,486 |  |  | $ | 2,632 |

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479838/944-20-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 605 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479032/944-605-50-1 + Details
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