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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2024
Accounting Policies [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | The following tables and explanatory notes present adjustments within the statement of financial position as of December 31, 2023 and statement of operating results for the three and six months ended June 30, 2023 to conform the presentation to that of ANGI’s.
|  | December 31, 2023
|  | American National, Historical |  | Reclassification to Conform Presentation |  | Notes |  | American National, Conformed
|  | (Dollars in millions)
Available-for-sale fixed maturity securities, at fair value |  | $ | 13,071 |  |  | $ | (194) |  |  | 2(b) |  | $ | 12,877 |
Private loans |  | — |  |  | 194 |  |  | 2(b) |  | 194
Market risk benefit asset |  | 34 |  |  | (34) |  |  | 2(a) |  | — |
Current tax receivable |  | 98 |  |  | (98) |  |  | 2(a) |  | — |
Prepaid pension |  | 248 |  |  | (248) |  |  | 2(a) |  | — |
Intangible assets |  | — |  |  | 44 |  |  | 2(a) |  | 44 |
Other assets |  | 205 |  |  | 336 |  |  | 2(a) |  | 541 |
Liability for retirement benefits |  | 26 |  |  | (26) |  |  | 2(c) |  | — |
Other liabilities |  | 441 |  |  | 26 |  |  | 2(c) |  | 467 |
|  | $ | 14,123 |  |  | $ | — |  |  |  |  | $ | 14,123 |
|  | Three Months Ended June 30, 2023
|  | American National, Historical |  | Reclassification to Conform Presentation |  | Notes |  | American National, Conformed
|  | (Dollars in millions)
Net investment income |  | $ | 382 |  |  | $ | (40) |  |  | 2(f), (j) |  | $ | 342 |
Investment related gains (losses) |  | — |  |  | 41 |  |  | 2(d) |  | 41 |
Net realized investment gains (losses) |  | (28) |  |  | 28 |  |  | 2(d) |  | — |
Increase in investment credit loss |  | (2) |  |  | 2 |  |  | 2(d) |  | — |
Net gains (losses) on equity securities |  | 71 |  |  | (71) |  |  | 2(d) |  | — |
Other income |  | 13 |  |  | (13) |  |  | 2(j) |  | — |
Policyholder benefits and claims incurred |  | (972) |  |  | (17) |  |  | 2(f) |  | (989) |
Interest credited to policyholders' account balances |  | (136) |  |  | 136 |  |  | 2(f) |  | — |
Interest sensitive contract benefits |  | — |  |  | (116) |  |  | 2(j) |  | (116) |
Amortization of deferred policy acquisition costs, deferred sales inducements, and value of business acquired |  | — |  |  | (132) |  |  | 2(g), (i) |  | (132) |
Change in fair value of insurance-related derivatives and embedded derivatives |  | — |  |  | 26 |  |  | 2(f) |  | 26 |
Change in fair value of market risk benefits |  | (5) |  |  | 17 |  |  | 2(j) |  | 12 |
Commissions for acquiring and servicing policies |  | (214) |  |  | 214 |  |  | 2(h) |  | — |
Other operating expenses |  | (191) |  |  | 191 |  |  | 2(e) |  | — |
Operating expenses |  | — |  |  | (148) |  |  | 2(e), (g), (h), (i) |  | (148) |
Interest expense |  | — |  |  | (22) |  |  | 2(e) |  | (22) |
Change in deferred policy acquisition |  | 94 |  |  | (94) |  |  | 2(i) |  | — |
Other components of net periodic pension benefit (costs), net of tax |  | 2 |  |  | (2) |  |  | 2(j) |  | — |
|  | $ | (986) |  |  | $ | — |  |  |  |  | $ | (986) |
|  | Six Months Ended June 30, 2023
|  | American National, Historical |  | Reclassification to Conform Presentation |  | Notes |  | American National, Conformed
|  | (Dollars in millions)
Net investment income |  | $ | 723 |  |  | $ | (57) |  |  | 2(f), (j) |  | $ | 666 |
Investment related gains (losses) |  | — |  |  | (20) |  |  | 2(d) |  | (20) |
Net realized investment gains (losses) |  | (50) |  |  | 50 |  |  | 2(d) |  | — |
Increase in investment credit loss |  | (13) |  |  | 13 |  |  | 2(d) |  | — |
Net gains (losses) on equity securities |  | 43 |  |  | (43) |  |  | 2(d) |  | — |
Other income |  | 21 |  |  | (21) |  |  | 2(j) |  | — |
Policyholder benefits and claims incurred |  | (1,691) |  |  | 2 |  |  | 2(f) |  | (1,689) |
Interest credited to policyholders' account balances |  | (276) |  |  | 276 |  |  | 2(f) |  | — |
Interest sensitive contract benefits |  | — |  |  | (205) |  |  | 2(j) |  | (205) |
Amortization of deferred policy acquisition costs, deferred sales inducements, and value of business acquired |  | — |  |  | (263) |  |  | 2(g), (i) |  | (263) |
Change in fair value of insurance-related derivatives and embedded derivatives |  | — |  |  | — |  |  | 2(f) |  | — |
Change in fair value of market risk benefits |  | 8 |  |  | (1) |  |  | 2(j) |  | 7 |
Future policy benefit remeasurement losses |  | 1 |  |  | (1) |  |  | 2(j) |  | — |
Commissions for acquiring and servicing policies |  | (393) |  |  | 393 |  |  | 2(h) |  | — |
Other operating expenses |  | (369) |  |  | 369 |  |  | 2(e) |  | — |
Operating expenses |  | — |  |  | (303) |  |  | 2(e), (g), (h), (i) |  | (303) |
Interest expense |  | — |  |  | (46) |  |  | 2(e) |  | (46) |
Change in deferred policy acquisition |  | 142 |  |  | (142) |  |  | 2(i) |  | — |
Other components of net periodic pension benefit (costs), net of tax |  | 1 |  |  | (1) |  |  | 2(j) |  | — |
|  | $ | (1,853) |  |  | $ | — |  |  |  |  | $ | (1,853) |
Schedule of Deferred Policy Acquisition Cost - Amortization Basis |
Product(s) |  | Amortization Base |
Traditional life products |  | Nominal face amount |
Life contingent payout annuities |  | Annualized benefit amount in force |
Health products |  | Original annual premium |
Fixed deferred annuities, fixed index annuities, variable annuities |  | Policy count |
Universal life products |  | Initial face amount |
Property and Casualty |  | Earned premium |

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