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Separate Accounts (Tables)
 6 Months Ended
Jun. 30, 2024
Separate Accounts Disclosure [Abstract]  
Summary of Changes in Separate Account Liabilities
The following table presents the balances of and changes in separate account liabilities, which are primarily comprised of variable annuity products, as of and for the periods indicated:
 
(Amounts in millions)
  
June 30, 2024
 
 
December 31, 2023
 
              
Beginning balance as of January 1
    $ 4,509     $ 4,417  
Premiums and deposits
      15       35  
Policy charges
      (52 )      (104 ) 
Surrenders and withdrawals
      (201 )      (361 ) 
Benefit payments
      (118 )      (190 ) 
Investment performance
      399       716  
Net transfers from (to) general account
      2       (1 ) 
Other charges
      (1 )      (3 ) 
  
 
 
    
 
 
  
Ending balance
    $ 4,553     $ 4,509  
  
 
 
    
 
 
  
Cash surrender value
(1)
    $ 4,550     $ 4,506  
 
(1)
Cash surrender value represents the amount of the contractholders’ account balances that was distributable less certain surrender charges.
Summary of Aggregate Fair Value of Separate Account Assets
The following table presents the aggregate fair value of assets, by major investment asset category, supporting separate accounts as of the dates indicated:
 
(Amounts in millions)
  
June 30, 2024
 
  
December 31, 2023
 
 
  
 
 
  
 
 
               
Equity funds
    $ 2,112      $ 2,018  
Balanced funds
      1,900        1,927  
Bond funds
      307        320  
Money market funds
      234        244  
  
 
 
     
 
 
  
Total
    $ 4,553      $ 4,509