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

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Net Investment Income

Net investment income is shown below:

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
						(Dollars in millions)
Available-for-sale fixed maturity securities						$	604					$	177					$	1,265					$	501
Equity securities						17						4						38						4
Mortgage loans						190						80						428						222
Private loans						24						—						25						—
Real estate						(6)						2						46						7
Real estate partnerships						(3)						1						3						16
Investment funds						55						53						223						103
Policy loans						6						—						12						—
Short-term investments						63						46						140						138
Other						74						12						216						29
Total net investment income						$	1,024					$	375					$	2,396					$	1,020

Schedule of Net Unrealized and Realized Investment Gains (Losses)

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

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
						(Dollars in millions)
Available-for-sale fixed maturity securities						$	(100)					$	13					$	(125)					$	(47)
Equity securities						23						(10)						47						33
Mortgage loans						(22)						1						(28)						(9)
Private loans						—						(12)						(3)						(12)
Short-term investments and other invested assets						(29)						(4)						(51)						3
Total investment related gains (losses), net						$	(128)					$	(12)					$	(160)					$	(32)

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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