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Other Insurance Liabilities and Separate Accounts (Tables)
 12 Months Ended
Dec. 31, 2023
Insurance [Abstract]  
Schedule of Changes in Liability for Future Policy Benefits
The following tables show the components of the change in the liability for future policy benefits, which is included in other insurance liabilities and other long-term insurance liabilities on the consolidated balance sheets, during the years ended December 31, 2023 and 2022:
2023
In millionsLarge Case
Pensions		Long-Term
Care
Present value of expected net premiums (1)
Liability for future policy benefits, beginning of period - current discount rate$300 
Beginning liability for future policy benefits at original (locked-in) discount rate$302 
Effect of changes in cash flow assumptions— 
Effect of actual variances from expected experience10 
Adjusted beginning liability for future policy benefits - original (locked-in) discount rate312 
Interest accrual (using locked-in discount rate)15 
Net premiums (actual)(39)
Ending liability for future policy benefits at original (locked-in) discount rate288 
Effect of changes in discount rate assumptions5 
Liability for future policy benefits, end of period - current discount rate$293 
Present value of expected future policy benefits
Liability for future policy benefits, beginning of period - current discount rate$2,253 $1,566 
Beginning liability for future policy benefits at original (locked-in) discount rate$2,425 $1,613 
Effect of changes in cash flow assumptions— — 
Effect of actual variances from expected experience(3)8 
Adjusted beginning liability for future policy benefits - original (locked-in) discount rate2,422 1,621 
Issuances8 — 
Interest accrual (using locked-in discount rate)97 82 
Benefit payments (actual)(276)(71)
Ending liability for future policy benefits at original (locked-in) discount rate2,251 1,632 
Effect of changes in discount rate assumptions(112)8 
Liability for future policy benefits, end of period - current discount rate$2,139 $1,640 
Net liability for future policy benefits$2,139 $1,347 
Less: Reinsurance recoverable— — 
Net liability for future policy benefits, net of reinsurance recoverable$2,139 $1,347 
_____________________________________________
(1)The present value of expected net premiums is equivalent to the present value of expected gross premiums for the long-term care insurance contracts as net premiums are set equal to gross premiums.
2022
In millionsLarge Case
Pensions		Long-Term
Care
Present value of expected net premiums (1)
Liability for future policy benefits, beginning of period - current discount rate$389 
Beginning liability for future policy benefits at original (locked-in) discount rate$323 
Effect of changes in cash flow assumptions(15)
Effect of actual variances from expected experience18 
Adjusted beginning liability for future policy benefits - original (locked-in) discount rate326 
Interest accrual (using locked-in discount rate)16 
Net premiums (actual)(40)
Ending liability for future policy benefits at original (locked-in) discount rate302 
Effect of changes in discount rate assumptions(2)
Liability for future policy benefits, end of period - current discount rate$300 
Present value of expected future policy benefits
Liability for future policy benefits, beginning of period - current discount rate$3,034 $1,991 
Beginning liability for future policy benefits at original (locked-in) discount rate$2,650 $1,480 
Effect of changes in cash flow assumptions— 99 
Effect of actual variances from expected experience(44)18 
Adjusted beginning liability for future policy benefits - original (locked-in) discount rate2,606 1,597 
Issuances4 — 
Interest accrual (using locked-in discount rate)106 80 
Benefit payments (actual)(291)(64)
Ending liability for future policy benefits at original (locked-in) discount rate2,425 1,613 
Effect of changes in discount rate assumptions(172)(47)
Liability for future policy benefits, end of period - current discount rate$2,253 $1,566 
Net liability for future policy benefits$2,253 $1,266 
Less: Reinsurance recoverable— — 
Net liability for future policy benefits, net of reinsurance recoverable$2,253 $1,266 
_____________________________________________
(1)The present value of expected net premiums is equivalent to the present value of expected gross premiums for the long-term care insurance contracts as net premiums are set equal to gross premiums.
The amount of undiscounted expected gross premiums and expected future benefit payments for long-duration insurance liabilities as of December 31, 2023 and 2022 were as follows:
In millions20232022
Large case pensions
Expected future benefit payments$3,266$3,539
Expected gross premiums——
Long-term care
Expected future benefit payments$3,224$3,265
Expected gross premiums414437
The weighted-average interest rate used in the measurement of the long-duration insurance liabilities as of December 31, 2023 and 2022 were as follows:
20232022
Large case pensions
Interest accretion rate4.20%4.20%
Current discount rate4.93%5.24%
Long-term care
Interest accretion rate5.11%5.11%
Current discount rate5.08%5.39%

The weighted-average durations (in years) of the long-duration insurance liabilities as of December 31, 2023 and 2022 were as follows:
20232022
Large case pensions7.37.4
Long-term care12.112.6
Roll Forward of Policyholders' Funds
The following table shows the components of the change in policyholders’ funds related to long-duration insurance contracts, which are included in policyholders’ funds and other long-term liabilities on the consolidated balance sheets, during the years ended December 31, 2023 and 2022:
In millions, except weighted average crediting rate20232022
Policyholders’ funds, beginning of the period$345$522
Deposits received—13
Policy charges(2)(2)
Surrenders and withdrawals(35)(31)
Interest credited911
Change in net unrealized gains (losses)39(148)
Other(24)(20)
Policyholders’ funds, end of the period$332$345
Weighted average crediting rate4.32%4.72%
Net amount at risk$— $— 
Cash surrender value$313 $339 
Schedule of Fair Value of Separate Accounts by Major Category of Investment
Separate Accounts financial assets at December 31, 2023 and 2022 were as follows:
December 31, 2023December 31, 2022
In millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$2 $166 $— $168 $2 $154 $— $156 
Debt securities558 1,949 — 2,507 712 1,965 — 2,677 
Common/collective trusts— 529 — 529 — 480 — 480 
Total (1)
$560 $2,644 $— $3,204 $714 $2,599 $— $3,313 
_____________________________________
(1)Excludes $46 million of other receivables and $85 million of other payables at December 31, 2023 and 2022, respectively.
The following table shows the fair value of assets, by major investment category, supporting Separate Accounts as of December 31, 2023 and 2022:
In millions20232022
Cash and cash equivalents$168 156 
Debt securities:
U.S. government securities573 717 
States, municipalities and political subdivisions28 27 
U.S. corporate securities1,632 1,667 
Foreign securities202 201 
Residential mortgage-backed securities51 41 
Commercial mortgage-backed securities6 6 
Other asset-backed securities15 18 
Total debt securities2,507 2,677 
Common/collective trusts529 480 
Total (1)
$3,204 $3,313 
_____________________________________________
(1)Excludes $46 million of other receivables and $85 million of other payables at December 31, 2023 and 2022, respectively.
Roll Forward of Separate Accounts
The following table shows the components of the change in Separate Accounts liabilities during the years ended December 31, 2023 and 2022:
In millions20232022
Separate Accounts liability, beginning of the period$3,228 $5,087 
Premiums and deposits860 853 
Surrenders and withdrawals(9)(581)
Benefit payments(938)(947)
Investment earnings100 (1,130)
Net transfers from general account7 9 
Other2 (63)
Separate Accounts liability, end of the period$3,250 $3,228 
Cash surrender value, end of the period$2,181 $2,087