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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Total fixed maturities $ 15,106 $ 15,714
Allowance for credit loss 16 0
Amortized Cost 17,363 18,689
Mortgage loans, allowance for credit loss (26) (15)
Policy loans (1,528) (1,495)
Investment funds 1,428 1,300
Investment funds at fair value 238 58
Other investments at fair value 35 83
Short-term investments 1,181 1,489
Cash equivalents 714 1,272
Reinsurance recoverables 37,706 39,223
Reinsurance recoverable, allowance for credit loss (18) (21)
Reinsurance recoverables at fair value (23) 874
Value of business acquired and deferred acquisition costs 457 496
Other policyholder funds and benefits payable 29,502 31,827
Other policyholder funds and benefits payable 536 295
Funds withheld liability 10,210 10,474
Funds withheld liability at fair value (157) (560)
Other liabilities (811) (981)
Other assets $ 420 $ 441
Common stock, shares authorized 1,000 1,000
Common stock, shares, issued 1,000 1,000
Common stock, shares, outstanding 1,000 1,000
Common stock, par value (in dollars per share) $ 5,690 $ 5,690
Accumulated other comprehensive loss $ (1,325) $ (1,659)
Total fixed maturities, available-for-sale    
Total fixed maturities 14,854 15,383
Allowance for credit loss 16 0
Amortized Cost 17,335 18,689
Fixed maturities, at fair value using fair value option    
Total fixed maturities 252 331
Reinsurance Recoverables    
Reinsurance recoverables at fair value 1,242 1,286
Freestanding Derivatives    
Other liabilities at fair value 57 105
Affiliated Entity    
Total fixed maturities 9 4
Policy loans (6) 0
Investment funds 51 8
Short-term investments 440 100
Reinsurance recoverables 9,468 9,613
Value of business acquired and deferred acquisition costs 114 176
Other policyholder funds and benefits payable 526 582
Funds withheld liability 9,148 9,248
Other liabilities (33)  
Other assets   1
Accumulated other comprehensive loss (580) (762)
Affiliated Entity | Fixed maturities, at fair value using fair value option    
Total fixed maturities $ 27 $ 0