XML 112 R101.htm IDEA: XBRL DOCUMENT v3.25.3
Future Policy Benefits - Changes in Liability for Future Policy Benefits (Details) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Present Value of Expected Net Premiums:        
Balance, beginning of period $ 2,353 $ 3,145    
Beginning balance at original discount rate 2,507 3,254    
Effect of changes in cash flow assumptions     $ 68 $ 195
Effect of actual variances from expected experience     (55) (314)
Adjusted beginning of period balance     2,520 3,135
Acquisition from business combination 0 0    
Issuances 803 1,325    
Interest accrual 78 97    
Net premiums collected (1,026) (1,550)    
Derecognitions (lapses and withdrawals) 3 1    
Ending balance at original discount rate 2,378 3,008    
Effect of changes in discount rate assumptions (77) (39)    
Balance, end of period 2,301 2,969    
Present Value of Expected Future Policy Benefits:        
Balance, beginning of period 9,701 7,253    
Beginning balance at original discount rate 10,269 7,494    
Effect of changes in cash flow assumptions     82 (185)
Effect of actual variances from expected experience     (51) (346)
Adjusted beginning of period balance     10,300 6,963
Acquisition of business combination 0 311    
Issuances 990 1,344    
Interest accrual 344 250    
Benefit payments (651) (422)    
Derecognitions (lapses and withdrawals) 35 4    
Foreign currency translation 78 0    
Ending balance at original discount rate 11,096 8,450    
Effect of changes in discount rate assumptions (285) (85)    
Balance, end of period 10,811 8,365    
Liability for future policy benefits 8,510 5,396    
Less: Reinsurance recoverables (1,272) (1,291)    
Net liability for future policy benefits, after reinsurance recoverable 7,238 4,105    
Liability remeasurement gains 53 15    
Annuities        
Present Value of Expected Net Premiums:        
Balance, beginning of period 0 0    
Beginning balance at original discount rate 0 0    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     1 11
Adjusted beginning of period balance     1 11
Acquisition from business combination 0 0    
Issuances 796 1,287    
Interest accrual 7 10    
Net premiums collected (807) (1,306)    
Derecognitions (lapses and withdrawals) 3 0    
Ending balance at original discount rate 0 2    
Effect of changes in discount rate assumptions 0 0    
Balance, end of period 0 2    
Present Value of Expected Future Policy Benefits:        
Balance, beginning of period 5,532 2,213    
Beginning balance at original discount rate 5,668 2,217    
Effect of changes in cash flow assumptions     10 0
Effect of actual variances from expected experience     (1) 11
Adjusted beginning of period balance     5,677 2,228
Acquisition of business combination 0 311    
Issuances 983 1,300    
Interest accrual 212 105    
Benefit payments (414) (199)    
Derecognitions (lapses and withdrawals) 35 3    
Foreign currency translation 78 0    
Ending balance at original discount rate 6,571 3,748    
Effect of changes in discount rate assumptions (8) 83    
Balance, end of period 6,563 3,831    
Liability for future policy benefits 6,563 3,829 5,532  
Less: Reinsurance recoverables (2) (3)    
Net liability for future policy benefits, after reinsurance recoverable $ 6,561 $ 3,826    
Weighted-average liability duration of future policy benefits (years) 6 years 8 years    
Weighted average interest accretion rate 5.29% 5.12%    
Weighted average current discount rate 5.27% 4.85%    
Life Insurance        
Present Value of Expected Net Premiums:        
Balance, beginning of period $ 2,353 $ 3,145    
Beginning balance at original discount rate 2,507 3,254    
Effect of changes in cash flow assumptions     68 195
Effect of actual variances from expected experience     (56) (325)
Adjusted beginning of period balance     2,519 3,124
Acquisition from business combination 0 0    
Issuances 7 38    
Interest accrual 71 87    
Net premiums collected (219) (244)    
Derecognitions (lapses and withdrawals) 0 1    
Ending balance at original discount rate 2,378 3,006    
Effect of changes in discount rate assumptions (77) (39)    
Balance, end of period 2,301 2,967    
Present Value of Expected Future Policy Benefits:        
Balance, beginning of period 4,169 5,040    
Beginning balance at original discount rate 4,601 5,277    
Effect of changes in cash flow assumptions     72 (185)
Effect of actual variances from expected experience     (50) (357)
Adjusted beginning of period balance     4,623 $ 4,735
Acquisition of business combination 0 0    
Issuances 7 44    
Interest accrual 132 145    
Benefit payments (237) (223)    
Derecognitions (lapses and withdrawals) 0 1    
Foreign currency translation 0 0    
Ending balance at original discount rate 4,525 4,702    
Effect of changes in discount rate assumptions (277) (168)    
Balance, end of period 4,248 4,534    
Liability for future policy benefits 1,947 1,567 $ 1,816  
Less: Reinsurance recoverables (1,270) (1,288)    
Net liability for future policy benefits, after reinsurance recoverable $ 677 $ 279    
Weighted-average liability duration of future policy benefits (years) 14 years 15 years    
Weighted average interest accretion rate 4.70% 4.63%    
Weighted average current discount rate 5.42% 5.05%