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Net Investment Income and Investment Related Gains (Losses) (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Net Investment Income

Net investment income is shown below:

						Three Months Ended June 30,												Six Months Ended June 30,
						2024						2023						2024						2023
						(Dollars in millions)
Available-for-sale fixed maturity securities						$	433					$	167					$	661					$	324
Equity securities						6						—						21						—
Mortgage loans						160						73						238						142
Private loans						1						—						1						—
Real estate						39						1						52						5
Real estate partnerships						6						(1)						6						15
Investment funds						133						31						168						50
Policy loans						6						—						6						—
Short-term investments						45						58						77						92
Other						95						13						142						38
Total net investment income						$	924					$	342					$	1,372					$	666

Schedule of Net Unrealized and Realized Investment Gains (Losses)

Net unrealized and realized investment gains (losses) are shown below:

						Three Months Ended June 30,												Six Months Ended June 30,
						2024						2023						2024						2023
						(Dollars in millions)
Available-for-sale fixed maturity securities						$	(33)					$	(35)					$	(25)					$	(60)
Equity securities						35						71						24						43
Mortgage loans						2						2						(6)						(10)
Private loans						(3)						—						(3)						—
Short-term investments and other invested assets						1						3						(22)						7
Total investment related gains (losses), net						$	2					$	41					$	(32)					$	(20)

X

- Definition

Tabular disclosure of realized and unrealized gain (loss) on investment in security.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(9)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

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- Definition

Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(7)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

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