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Future Policy Benefit Reserves (Tables)
 9 Months Ended
Sep. 30, 2025
Insurance [Abstract]  
Liability for Future Policy Benefit, Activity
The following table summarizes balances and changes in the LFPB.
(In millions)
20252024
Present value of future net premiums
Balance, January 1$3,425 $3,710 
     Effect of changes in discount rate(7)(125)
Balance, January 1, at original locked in discount rate3,418 3,585 
     Effect of changes in cash flow assumptions (1)
114 111 
     Effect of actual variances from expected experience (1)
(2)(40)
Adjusted balance, January 13,530 3,656 
Interest accrual133 139 
     Net premiums: earned during period(306)(317)
Balance, end of period at original locked in discount rate3,357 3,478 
     Effect of changes in discount rate83 147 
Balance, September 30
$3,440 $3,625 
Present value of future benefits & expenses
Balance, January 1$16,583 $17,669 
     Effect of changes in discount rate440 (578)
Balance, January 1, at original locked in discount rate17,023 17,091 
     Effect of changes in cash flow assumptions (1)
121 126 
     Effect of actual variances from expected experience (1)
50 33 
Adjusted balance, January 117,194 17,250 
Interest accrual688 693 
     Benefit & expense payments(870)(883)
Balance, end of period at original locked in discount rate17,012 17,060 
     Effect of changes in discount rate(26)612 
Balance, September 30
$16,986 $17,672 
Net LFPB$13,546 $14,047 
(1) As of September 30, 2025 and 2024 the re-measurement gain (loss) of $(59) million and $(88) million presented parenthetically on the Condensed Consolidated Statement of Operations is comprised of the effect of changes in cash flow assumptions and the effect of actual variances from expected experience.
The following table presents earned premiums and interest accretion associated with the Company’s long-term care business recognized on the Condensed Consolidated Statement of Operations.
Periods ended September 30Three MonthsNine Months
(In millions)
2025202420252024
Earned premiums$106 $110 $318 $329 
Interest accretion185 185 555 554 
The following table presents undiscounted expected future benefit and expense payments, and undiscounted expected future gross premiums.
As of September 30
(In millions)
20252024
Expected future benefit and expense payments$31,582 $32,009 
Expected future gross premiums5,048 5,305 
The weighted average interest rates in the table below are calculated based on the rate used to discount all future cash flows.
As of September 30
As of December 31
202520242024
Original locked in discount rate5.16 %5.20 %5.20 %
Upper-medium grade fixed income instrument discount rate5.24 4.90 5.51