XML 64 R53.htm IDEA: XBRL DOCUMENT v3.25.2
Policyholders' Account Balances (Tables)
 6 Months Ended
Jun. 30, 2025
Insurance [Abstract]  
Schedule of Changes in Policyholders' Account Balances
The balances and changes in policyholders’ account balances follows:
Six Months Ended June 30,
20252024
AnnuitiesLife
Insurance		AnnuitiesLife
Insurance
(Dollars in millions)
Balance, beginning of period$80,046 $2,107 $14,694 $1,975 
Issuances7,962 26 4,064 36 
Acquisition from business combination (b)— — 61,296 — 
Premiums received62 218 23 213 
Policy charges(287)(189)(122)(187)
Surrenders and withdrawals(5,037)(55)(3,060)(43)
Interest credited1,453 51 707 48 
Benefit payments(538)— (152)— 
Other4 — 3 — 
Balance, end of period$83,665 $2,158 $77,453 $2,042 
Reconciling items:
Supplemental contracts$496 $— $489 $— 
Variable universal life— 39 — 39 
Variable deferred annuity7 — 8 — 
Embedded derivative and other519 50 408 50 
Total PAB balance, end of period$84,687 $2,247 $78,358 $2,131 
Weighted-average crediting rate3.40 %5.17 %2.88 %4.78 %
Net amount at risk (a)$12,907 $38,673 $12,466 $38,365 
Cash surrender value$76,292 $1,919 $71,450 $1,796 
(a)Net amount at risk is defined as the current guarantee amount in excess of the current account balance.
(b)Amount for the six months ended June 30, 2024 excludes $177 million of liabilities relating to supplemental contracts at acquisition date.
Schedule of Account Values by Range of Guaranteed Minimum Crediting Rates
The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums follow.
June 30, 2025
Range of
Guaranteed Minimum
Crediting Rate		At Guaranteed Minimum
 1 - 50 Basis Points Above
51 - 150 Basis Points Above
> 150 Basis Points Above
Other (1)Total
(Dollars in millions)
Annuities
0% - 1%
$3,715 $2,668 $4,170 $4,868 $— $15,421 
1% - 2%
1,569 307 1,008 1,596 — 4,480 
2% - 3%
1,931 373 217 11,323 — 13,844 
Greater than 3%
270 5 6 11 — 292 
Products with either a fixed rate or no guaranteed minimum crediting rate— — — — 49,628 49,628 
Total$7,485 $3,353 $5,401 $17,798 $49,628 $83,665 
Life Insurance
0% - 1%
$— $— $— $— $— $— 
1% - 2%
38 2 66 791 — 897 
2% to 3%
423 — 221 — — 644 
Greater than 3%
617 — — — — 617 
Products with either a fixed rate or no guaranteed minimum crediting rate— — — — — — 
Total$1,078 $2 $287 $791 $— $2,158 
June 30, 2024
Range of
Guaranteed Minimum
Crediting Rate		At Guaranteed Minimum
1 - 50 Basis Points Above
51 - 150 Basis Points Above
> 150 Basis Points Above
Other (1)Total
(Dollars in millions)
Annuities
0% - 1%
$4,296 $2,670 $3,931 $4,679 $— $15,576 
1% - 2%
1,446 393 1,740 1,844 — 5,423 
2% - 3%
1,942 429 111 6,637 — 9,119 
Greater than 3%
306 7 1 5 — 319 
Products with either a fixed rate or no guaranteed minimum crediting rate— — — — 47,016 47,016 
Total$7,990 $3,499 $5,783 $13,165 $47,016 $77,453 
Life Insurance
0% - 1%
$— $— $— $— $— $— 
1% - 2%
34 2 54 667 — 757 
2% to 3%
421 — 222 — — 643 
Greater than 3%
642 — — — — 642 
Products with either a fixed rate or no guaranteed minimum crediting rate— — — — — — 
Total$1,097 $2 $276 $667 $— $2,042 
(1)Other includes products with either a fixed rate or no guaranteed minimum crediting rate or allocated to index strategies.