XML 101 R76.htm IDEA: XBRL DOCUMENT v3.24.2
INSURANCE LIABILITIES AND ANNUITY BENEFITS - Changes in Future Policy Benefit Reserves (Details) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Present value of expected future policy benefits        
Future policy benefit reserves $ 35,376   $ 37,689  
Long-term care        
Present value of expected net premiums        
Balance, beginning of year 4,063 $ 4,059    
Beginning balance at locked-in discount rate 3,745 3,958    
Effect of changes in cash flow assumptions     16 $ 1
Effect of actual variances from expected experience     (26) 31
Adjusted beginning of year balance     3,735 3,991
Interest accrual 101 105    
Net premiums collected (196) (201)    
Effect of foreign currency 0 0    
Ending balance at locked-in discount rate 3,640 3,895    
Effect of changes in discount rate assumptions 164 239    
Balance, end of year 3,803 4,134    
Present value of expected future policy benefits        
Balance, beginning of year 30,895 28,316    
Beginning balance at locked-in discount rate 27,185 27,135 27,144 27,026
Effect of changes in cash flow assumptions     (10) (14)
Effect of actual variances from expected experience     7 26
Adjusted beginning of year balance     27,141 27,038
Interest accrual 738 727    
Benefit payments (693) (630)    
Effect of foreign currency 0 0    
Ending balance at locked-in discount rate 27,185 27,135    
Effect of changes in discount rate assumptions 1,920 2,887    
Balance, end of year 29,105 30,022    
Future policy benefit reserves 25,301 25,888 26,832  
Less: Reinsurance recoverables, net of allowance for credit losses (155) (186)    
Net future policy benefit reserves, after reinsurance recoverables 25,146 25,702    
Structured settlement annuities        
Present value of expected net premiums        
Balance, beginning of year 0 0    
Beginning balance at locked-in discount rate 0 0    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     0 0
Adjusted beginning of year balance     0 0
Interest accrual 0 0    
Net premiums collected 0 0    
Effect of foreign currency 0 0    
Ending balance at locked-in discount rate 0 0    
Effect of changes in discount rate assumptions 0 0    
Balance, end of year 0 0    
Present value of expected future policy benefits        
Balance, beginning of year 9,357 8,860    
Beginning balance at locked-in discount rate 8,429 8,691 8,561 8,790
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     (25) 10
Adjusted beginning of year balance     8,536 8,800
Interest accrual 222 229    
Benefit payments (328) (338)    
Effect of foreign currency 0 0    
Ending balance at locked-in discount rate 8,429 8,691    
Effect of changes in discount rate assumptions 271 533    
Balance, end of year 8,700 9,224    
Future policy benefit reserves 8,700 9,224 9,357  
Less: Reinsurance recoverables, net of allowance for credit losses 0 0    
Net future policy benefit reserves, after reinsurance recoverables 8,700 9,224    
Life        
Present value of expected net premiums        
Balance, beginning of year 4,803 4,828    
Beginning balance at locked-in discount rate 4,773 5,210    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     (34) (87)
Adjusted beginning of year balance     4,739 5,122
Interest accrual 90 100    
Net premiums collected (140) (150)    
Effect of foreign currency (91) 86    
Ending balance at locked-in discount rate 4,597 5,159    
Effect of changes in discount rate assumptions (183) (162)    
Balance, end of year 4,415 4,997    
Present value of expected future policy benefits        
Balance, beginning of year 5,921 5,868    
Beginning balance at locked-in discount rate 5,591 6,126 5,847 6,247
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     (51) (44)
Adjusted beginning of year balance     5,796 $ 6,203
Interest accrual 110 119    
Benefit payments (219) (287)    
Effect of foreign currency (96) 91    
Ending balance at locked-in discount rate 5,591 6,126    
Effect of changes in discount rate assumptions (166) (144)    
Balance, end of year 5,424 5,983    
Future policy benefit reserves 1,010 985 $ 1,117  
Less: Reinsurance recoverables, net of allowance for credit losses (31) (34)    
Net future policy benefit reserves, after reinsurance recoverables $ 979 $ 952