XML 77 R66.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Summary of Significant Accounting Policies - Reclassification of Prior Year Presentation (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]          
Available-for-sale fixed maturity securities, at fair value $ 46,480   $ 46,480   $ 12,877
Market risk benefit asset 704   704   34
Intangible assets 1,612   1,612   44
Other assets 2,055   2,055   541
Net investment income 924 $ 342 1,372 $ 666  
Investment related gains (losses) 2 41 (32) (20)  
Net gains (losses) on equity securities 35 71 24 43  
Policyholder benefits and claims incurred (1,030) (989) (2,116) (1,689)  
Interest sensitive contract benefits 390 116 545 205  
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired 199 132 360 263  
Change in fair value of insurance-related derivatives and embedded derivatives 21 (26) 2 0  
Change in fair value of market risk benefits 139 (12) 158 (7)  
Operating expenses 335 148 438 303  
Interest expense 43 22 65 46  
Change in deferred policy acquisition     483 401  
Private Loan          
Error Corrections and Prior Period Adjustments Restatement [Line Items]          
Private loans $ 1,724   $ 1,724   194
American National, Historical          
Error Corrections and Prior Period Adjustments Restatement [Line Items]          
Available-for-sale fixed maturity securities, at fair value         13,071
Market risk benefit asset         34
Current tax receivable         98
Prepaid pension         248
Intangible assets         0
Other assets         205
Liability for retirement benefits         26
Other liabilities         441
Net assets after reclassification adjustments         14,123
Net investment income   382   723  
Investment related gains (losses)   0   0  
Net realized investment gains (losses)   (28)   (50)  
Increase in investment credit loss   (2)   (13)  
Net gains (losses) on equity securities   71   43  
Other income   13   21  
Policyholder benefits and claims incurred   (972)   (1,691)  
Interest credited to policyholder account balances   (136)   (276)  
Interest sensitive contract benefits   0   0  
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired   0   0  
Change in fair value of insurance-related derivatives and embedded derivatives   0   0  
Change in fair value of market risk benefits   (5)   8  
Future policy benefit remeasurement losses       1  
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired   (214)   (393)  
Operating expenses   (191)   (369)  
Operating expenses   0   0  
Interest expense   0   0  
Change in deferred policy acquisition   94   142  
Net periodic benefit cost   2   1  
Net income (loss) after reclassification adjustments   (986)   (1,853)  
American National, Historical | Private Loan          
Error Corrections and Prior Period Adjustments Restatement [Line Items]          
Private loans         0
Reclassification to Conform Presentation          
Error Corrections and Prior Period Adjustments Restatement [Line Items]          
Available-for-sale fixed maturity securities, at fair value         (194)
Market risk benefit asset         (34)
Current tax receivable         (98)
Prepaid pension         (248)
Intangible assets         44
Other assets         336
Liability for retirement benefits         (26)
Other liabilities         26
Net assets after reclassification adjustments         0
Net investment income   (40)   (57)  
Investment related gains (losses)   41   (20)  
Net realized investment gains (losses)   28   50  
Increase in investment credit loss   2   13  
Net gains (losses) on equity securities   (71)   (43)  
Other income   (13)   (21)  
Policyholder benefits and claims incurred   (17)   2  
Interest credited to policyholder account balances   136   276  
Interest sensitive contract benefits   (116)   (205)  
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired   (132)   (263)  
Change in fair value of insurance-related derivatives and embedded derivatives   26   0  
Change in fair value of market risk benefits   17   (1)  
Future policy benefit remeasurement losses       (1)  
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired   214   393  
Operating expenses   191   369  
Operating expenses   (148)   (303)  
Interest expense   (22)   (46)  
Change in deferred policy acquisition   (94)   (142)  
Net periodic benefit cost   (2)   (1)  
Net income (loss) after reclassification adjustments   0   0  
Reclassification to Conform Presentation | Private Loan          
Error Corrections and Prior Period Adjustments Restatement [Line Items]          
Private loans         194
American National, Conformed          
Error Corrections and Prior Period Adjustments Restatement [Line Items]          
Available-for-sale fixed maturity securities, at fair value         12,877
Market risk benefit asset         0
Current tax receivable         0
Prepaid pension         0
Intangible assets         44
Other assets         541
Liability for retirement benefits         0
Other liabilities         467
Net assets after reclassification adjustments         14,123
Net investment income   342   666  
Investment related gains (losses)   41   (20)  
Net realized investment gains (losses)   0   0  
Increase in investment credit loss   0   0  
Net gains (losses) on equity securities   0   0  
Other income   0   0  
Policyholder benefits and claims incurred   (989)   (1,689)  
Interest credited to policyholder account balances   0   0  
Interest sensitive contract benefits   (116)   (205)  
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired   (132)   (263)  
Change in fair value of insurance-related derivatives and embedded derivatives   26   0  
Change in fair value of market risk benefits   12   7  
Future policy benefit remeasurement losses       0  
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired   0   0  
Operating expenses   0   0  
Operating expenses   (148)   (303)  
Interest expense   (22)   (46)  
Change in deferred policy acquisition   0   0  
Net periodic benefit cost   0   0  
Net income (loss) after reclassification adjustments   $ (986)   $ (1,853)  
American National, Conformed | Private Loan          
Error Corrections and Prior Period Adjustments Restatement [Line Items]          
Private loans         $ 194