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Market Risk Benefits | 3 Months Ended
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Mar. 31, 2024
Insurance [Abstract] |
Market Risk Benefits | 4. Market Risk Benefits Information regarding MRB assets and liabilities associated with variable annuities was as follows:
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2024 |  | 2023
|  |  |  |  |  | (Dollars in millions)
Balance, beginning of period |  |  |  |  |  | $ | 9,701 |  |  | $ | 9,974 |
Balance, beginning of period, before effect of changes in nonperformance risk |  |  |  |  |  | 7,326 |  |  | 8,230 |
Decrements |  |  |  |  |  | (30) |  |  | (28) |
Effect of actual different from expected experience |  |  |  |  |  | — |  |  | 122 |
Effect of changes in interest rates |  |  |  |  |  | (988) |  |  | 880 |
Effect of changes in fund returns |  |  |  |  |  | (630) |  |  | (1,002) |
Issuances |  |  |  |  |  | — |  |  | (3) |
Effect of changes in risk margin |  |  |  |  |  | (39) |  |  | 9 |
Aging of the block and other |  |  |  |  |  | 348 |  |  | 326 |
Balance, end of period, before effect of changes in nonperformance risk |  |  |  |  |  | 5,987 |  |  | 8,534 |
Effect of changes in nonperformance risk |  |  |  |  |  | 2,157 |  |  | 1,752 |
Balance, end of period |  |  |  |  |  | 8,144 |  |  | 10,286 |
Less: Reinsurance recoverable, end of period |  |  |  |  |  | 27 |  |  | 71 |
Balance, end of period, net of reinsurance (1) |  |  |  |  |  | $ | 8,117 |  |  | $ | 10,215 |
Weighted-average attained age of contract holder |  |  |  |  |  | 73.2 years |  | 72.1 years
_______________ (1)Amounts represent the sum of MRB assets and MRB liabilities presented on the consolidated balance sheets at March 31, 2024 and 2023, with the exception of $8 million and $4 million, respectively, of index-linked annuities not included in this table.

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- Definition The entire disclosure for Market Risk Benefits + References No definition available. + Details
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