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Reinsurance (Tables)

9 Months Ended

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

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X

- References

No definition available.

+ Details

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