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Future Policy Benefit Reserves (Tables)
 6 Months Ended
Jun. 30, 2026
Insurance [Abstract]  
Liability for Future Policy Benefit, Activity
The following table summarizes balances and changes in the LFPB.
(In millions)
20262025
Present value of future net premiums
Balance, January 1$3,363 $3,425 
     Effect of changes in discount rate(71)(7)
Balance, January 1, at original locked in discount rate3,292 3,418 
     Effect of changes in cash flow assumptions (1)
— — 
     Effect of actual variances from expected experience (1)
(8)(1)
Adjusted balance, January 13,284 3,417 
Interest accrual84 88 
     Net premiums: earned during period(199)(203)
Balance, end of period at original locked in discount rate3,169 3,302 
     Effect of changes in discount rate14 50 
Balance, June 30
$3,183 $3,352 
Present value of future benefits & expenses
Balance, January 1$16,811 $16,583 
     Effect of changes in discount rate173 440 
Balance, January 1, at original locked in discount rate16,984 17,023 
     Effect of changes in cash flow assumptions (1)
— — 
     Effect of actual variances from expected experience (1)
36 22 
Adjusted balance, January 117,020 17,045 
Interest accrual454 458 
     Benefit & expense payments(573)(574)
Balance, end of period at original locked in discount rate16,901 16,929 
     Effect of changes in discount rate(456)(248)
Balance, June 30
$16,445 $16,681 
Net LFPB$13,262 $13,329 
(1) As of June 30, 2026 and 2025 the re-measurement gain (loss) of $(44) million and $(23) 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 June 30Three MonthsSix Months
(In millions)
2026202520262025
Earned premiums$103 $106 $206 $212 
Interest accretion185 185 370 370 
The following table presents undiscounted expected future benefit and expense payments, and undiscounted expected future gross premiums.
As of June 30
(In millions)
20262025
Expected future benefit and expense payments$30,814 $31,141 
Expected future gross premiums4,713 4,971 
The weighted average interest rates in the table below are calculated based on the rate used to discount all future cash flows.
As of June 30
As of December 31
202620252025
Original locked in discount rate5.14 %5.18 %5.16 %
Upper-medium grade fixed income instrument discount rate5.48 5.39 5.32