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Accumulated Other Comprehensive Income (Tables)
9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Income
The components of and changes in the accumulated other comprehensive income (“AOCI”), and the related tax effects, are shown below:
Change in
Net Unrealized
Investment
Gains (Losses)
Change in
Discount Rate
for Future
Policy Benefits
Change in
Instrument-
Specific
Credit Risk
for Market
Risk Benefit
Defined
Benefit
Pension
Plan
Adjustment
Foreign
Currency
Translation /
Other
Total
(Dollars in millions)
Balance as of January 1, 2024$(299)$105 $$85 $(1)$(109)
Other comprehensive income (loss) before reclassifications(56)128 (11)(3)63 
Amounts reclassified to (from) AOCI— — — — — — 
Deferred income tax benefit (expense)12 (26)(1)— (13)
Balance at March 31, 2024(343)207 (8)89 (4)(59)
Other comprehensive income (loss) before reclassifications489 101 18 19 10 637 
Amounts reclassified to (from) AOCI— — — — 
Deferred income tax benefit (expense)(106)(21)(4)(4)(2)(137)
Balance at June 30, 202444 287 104 445 
Other comprehensive income (loss) before reclassifications1,689 (290)(90)(2)1,311 
Amounts reclassified to (from) AOCI— — — — 
Deferred income tax benefit (expense)(357)59 19 (1)(277)
Balance at September 30, 2024$1,378 $56 $(65)$107 $$1,481 
Balance as of January 1, 2023$(722)$253 $21 $$(1)$(448)
Other comprehensive income (loss) before reclassifications261 (106)(7)— 151 
Amounts reclassified to (from) AOCI20 — — — — 20 
Deferred income tax benefit (expense) and other59 — — (1)— 58 
Balance at March 31, 2023(382)147 14 (1)(219)
Other comprehensive income (loss) before reclassifications(269)63 (8)— (210)
Amounts reclassified to (from) AOCI10 — — (2)— 
Deferred income tax benefit (expense)43 — — — — 43 
Balance at June 30, 2023(598)210 (1)(378)
Other comprehensive income (loss) before reclassifications(182)248 (9)— 58 
Amounts reclassified to (from) AOCI(2)— — — — (2)
Deferred income tax benefit (expense)52 (66)— — (11)
Balance at September 30, 2023$(730)$392 $— $$(1)$(333)