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Consolidated and Nonconsolidated Investment Entities (Tables) | 12 Months Ended
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Dec. 31, 2025
Consolidated Investment Entities [Abstract] |
Fair Value, by Balance Sheet Grouping | The carrying values and estimated fair values of the Company's financial instruments as of the dates indicated:
| December 31, 2025 |  | December 31, 2024
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Assets: |  |  |  |  |  |  |
Fixed maturities, including securities pledged | $ | 30,151 |  |  | $ | 30,151 |  |  | $ | 27,454 |  |  | $ | 27,454 |
Equity securities | 201 |  |  | 201 |  |  | 246 |  |  | 246 |
Mortgage loans on real estate | 5,608 |  |  | 5,522 |  |  | 4,699 |  |  | 4,459 |
Policy loans | 323 |  |  | 323 |  |  | 342 |  |  | 342 |
Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements | 2,357 |  |  | 2,357 |  |  | 2,535 |  |  | 2,535 |
Derivatives | 197 |  |  | 197 |  |  | 303 |  |  | 303 |
Embedded derivatives within reinsurance | 55 |  |  | 55 |  |  | 55 |  |  | 55 |
Other investments, including securities pledged | 86 |  |  | 86 |  |  | 74 |  |  | 74 |
Assets held in separate accounts | 113,007 |  |  | 113,007 |  |  | 101,676 |  |  | 101,676 |
Liabilities: |  |  |  |  |  |  |
Investment contract liabilities: |  |  |  |  |  |  |
Funding agreements without fixed maturities and deferred annuities(1) | $ | 33,793 |  |  | $ | 37,154 |  |  | $ | 31,082 |  |  | $ | 32,877 |
Funding agreements with fixed maturities | 2,101 |  |  | 2,120 |  |  | 1,249 |  |  | 1,257 |
Supplementary contracts and immediate annuities | 504 |  |  | 481 |  |  | 570 |  |  | 515 |
Stabilizer and MCGs | 5 |  |  | 5 |  |  | 19 |  |  | 19 |
Derivatives | 282 |  |  | 282 |  |  | 332 |  |  | 332 |
Embedded derivatives within reinsurance(2) | (9) |  |  | (9) |  |  | 41 |  |  | 41 |
Short-term debt | 586 |  |  | 588 |  |  | 399 |  |  | 399 |
Long-term debt | 1,518 |  |  | 1,489 |  |  | 2,103 |  |  | 2,023 |
(1) Certain amounts included in Funding agreements without fixed maturities and deferred annuities are also reflected within Stabilizer and MCGs. (2) The Company classifies the embedded derivative within the liabilities section as the balance represents an offset to a funds withheld liability. The following table shows the fair value hierarchy for assets and liabilities measured on a recurring basis within the Company's consolidated investment entities as of December 31, 2025:
| Level 1 |  | Level 2 |  | Level 3 |  | NAV |  | Total
Assets |  |  |  |  |  |  |  |  |
VIEs |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 116 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 116 |
Corporate loans | — |  |  | 1,350 |  |  | — |  |  | — |  |  | 1,350 |
Limited partnerships/corporations | — |  |  | — |  |  | — |  |  | 3,142 |  |  | 3,142 |
Other investments(1) | — |  |  | — |  |  | 43 |  |  | — |  |  | 43 |
VOEs |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 4 |  |  | — |  |  | — |  |  | — |  |  | 4 |
Other investments(1) | — |  |  | — |  |  | — |  |  | 47 |  |  | 47 |
Total assets | $ | 120 |  |  | $ | 1,350 |  |  | $ | 43 |  |  | $ | 3,189 |  |  | $ | 4,702 |
Liabilities |  |  |  |  |  |  |  |  |
VIEs |  |  |  |  |  |  |  |  |
CLO notes | $ | — |  |  | $ | 1,134 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,134 |
Total liabilities | $ | — |  |  | $ | 1,134 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,134 |
(1) VIEs and VOEs - Other investments are reflected in Assets related to consolidated investment entities - Other assets on the Company's Consolidated Balance Sheets.
The following table shows the fair value hierarchy for assets and liabilities measured on a recurring basis within the Company's consolidated investment entities as of December 31, 2024:
| Level 1 |  | Level 2 |  | Level 3 |  | NAV |  | Total
Assets |  |  |  |  |  |  |  |  |
VIEs |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 113 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 113 |
Corporate loans | — |  |  | 1,434 |  |  | — |  |  | — |  |  | 1,434 |
Limited partnerships/corporations | — |  |  | — |  |  | — |  |  | 3,067 |  |  | 3,067 |
Other investments(1) | — |  |  | — |  |  | 53 |  |  | — |  |  | 53 |
VOEs |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Other investments(1) | — |  |  | — |  |  | — |  |  | 50 |  |  | 50 |
Total assets | $ | 115 |  |  | $ | 1,434 |  |  | $ | 53 |  |  | $ | 3,117 |  |  | $ | 4,719 |
Liabilities |  |  |  |  |  |  |  |  |
VIEs |  |  |  |  |  |  |  |  |
CLO notes | $ | — |  |  | $ | 1,101 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,101 |
Total liabilities | $ | — |  |  | $ | 1,101 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,101 |
(1) VIEs and VOEs - Other investments are reflected in Assets related to consolidated investment entities - Other assets on the Company's Consolidated Balance Sheets.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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