XML 126 R110.htm IDEA: XBRL DOCUMENT v3.25.0.1
MRBs - Summary of Balances of Changes in Net MRB (Assets) Liabilities (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Market Risk Benefit [Roll Forward]    
Balance as of beginning-of-year $ (2,178)  
Balance as of end-of-year (3,814) $ (2,178)
Variable Annuities    
Market Risk Benefit [Roll Forward]    
Balance as of beginning-of-year (2,180) (662)
Balance as of beginning-of-year, before the effect of changes in non-performance risk (881) 1,511
Issuances 6 8
Attributed fees collected 1,520 1,497
Benefit payments (34) (64)
Effect of changes in interest rates (1,918) (110)
Effect of changes in equity markets (2,277) (3,167)
Effect of changes in equity index volatility (88) (593)
In-force updates and other changes in MRBs 213 136
Effect of changes in future expected policyholder behavior 7 (33)
Effect of changes in future expected assumptions (199) (66)
Balance as of end-of-year, before the effect of changes in non-performance risk (3,651) (881)
Effect of cumulative changes in non-performance risk (153) (1,299)
Balance as of end-of-year (3,804) (2,180)
Less: ceded MRB assets (liabilities) (379) (238)
Balance as of end-of-year, net of reinsurance $ (3,425) $ (1,942)
Weighted-average age of policyholders (years) 73 years 72 years
Net amount at risk $ 1,962 $ 3,031
Variable Annuities | Cumulative Effect, Period of Adoption, Adjustment    
Market Risk Benefit [Roll Forward]    
Balance as of beginning-of-year (1,299) (2,173)
Balance as of end-of-year   (1,299)
Fixed Annuities    
Market Risk Benefit [Roll Forward]    
Balance as of beginning-of-year 32 (45)
Balance as of beginning-of-year, before the effect of changes in non-performance risk 90 (5)
Issuances 0 0
Attributed fees collected 31 32
Benefit payments 0 0
Effect of changes in interest rates (70) (24)
Effect of changes in equity markets (16) (12)
Effect of changes in equity index volatility (5) 9
In-force updates and other changes in MRBs 6 5
Effect of changes in future expected policyholder behavior 11 70
Effect of changes in future expected assumptions 18 15
Balance as of end-of-year, before the effect of changes in non-performance risk 65 90
Effect of cumulative changes in non-performance risk (33) (58)
Balance as of end-of-year 32 32
Less: ceded MRB assets (liabilities) 0 0
Balance as of end-of-year, net of reinsurance $ 32 $ 32
Weighted-average age of policyholders (years) 70 years 68 years
Net amount at risk $ 240 $ 203
Fixed Annuities | Cumulative Effect, Period of Adoption, Adjustment    
Market Risk Benefit [Roll Forward]    
Balance as of beginning-of-year (58) (40)
Balance as of end-of-year   (58)
Retirement Plan Services    
Market Risk Benefit [Roll Forward]    
Balance as of beginning-of-year (30) (22)
Balance as of beginning-of-year, before the effect of changes in non-performance risk (26) (20)
Issuances 0 0
Attributed fees collected 8 6
Benefit payments 0 0
Effect of changes in interest rates (18) 5
Effect of changes in equity markets (8) (13)
Effect of changes in equity index volatility 0 (3)
In-force updates and other changes in MRBs 8 1
Effect of changes in future expected policyholder behavior 0 0
Effect of changes in future expected assumptions (6) (2)
Balance as of end-of-year, before the effect of changes in non-performance risk (42) (26)
Effect of cumulative changes in non-performance risk 0 (4)
Balance as of end-of-year (42) (30)
Less: ceded MRB assets (liabilities) 0 0
Balance as of end-of-year, net of reinsurance $ (42) $ (30)
Weighted-average age of policyholders (years) 63 years 63 years
Net amount at risk $ 3 $ 4
Retirement Plan Services | Cumulative Effect, Period of Adoption, Adjustment    
Market Risk Benefit [Roll Forward]    
Balance as of beginning-of-year $ (4) (2)
Balance as of end-of-year   $ (4)