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Other Insurance Liabilities and Separate Accounts (Tables)
 6 Months Ended
Jun. 30, 2024
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 unaudited condensed consolidated balance sheets, during the six months ended June 30, 2024 and 2023:
Six Months Ended
June 30, 2024
In millionsLarge Case
Pensions		Long-Term
Care
Present value of expected net premiums (1)
Liability for future policy benefits, beginning of the period - current discount rate$293 
Beginning liability for future policy benefits at original (locked-in) discount rate$288 
Effect of changes in cash flow assumptions— 
Effect of actual variances from expected experience9 
Adjusted beginning liability for future policy benefits - original (locked-in) discount rate297 
Interest accrual (using locked-in discount rate)8 
Net premiums (actual)(20)
Ending liability for future policy benefits at original (locked-in) discount rate285 
Effect of changes in discount rate assumptions(4)
Liability for future policy benefits, end of the period - current discount rate$281 
Present value of expected future policy benefits
Liability for future policy benefits, beginning of the period - current discount rate$2,139 $1,640 
Beginning liability for future policy benefits at original (locked-in) discount rate$2,251 $1,632 
Effect of changes in cash flow assumptions— — 
Effect of actual variances from expected experience(15)3 
Adjusted beginning liability for future policy benefits - original (locked-in) discount rate2,236 1,635 
Issuances26 — 
Interest accrual (using locked-in discount rate)46 41 
Benefit payments (actual)(129)(36)
Ending liability for future policy benefits at original (locked-in) discount rate2,179 1,640 
Effect of changes in discount rate assumptions(176)(77)
Liability for future policy benefits, end of the period - current discount rate$2,003 $1,563 
Net liability for future policy benefits$2,003 $1,282 
Less: Reinsurance recoverable— — 
Net liability for future policy benefits, net of reinsurance recoverable$2,003 $1,282 
_____________________________________________
(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.
Six Months Ended
June 30, 2023
In millionsLarge Case
Pensions		Long-Term
Care
Present value of expected net premiums (1)
Liability for future policy benefits, beginning of the 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 experience5 
Adjusted beginning liability for future policy benefits - original (locked-in) discount rate307 
Interest accrual (using locked-in discount rate)8 
Net premiums (actual)(20)
Ending liability for future policy benefits at original (locked-in) discount rate295 
Effect of changes in discount rate assumptions(1)
Liability for future policy benefits, end of the period - current discount rate$294 
Present value of expected future policy benefits
Liability for future policy benefits, beginning of the 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— — 
Adjusted beginning liability for future policy benefits - original (locked-in) discount rate2,425 1,613 
Issuances7 — 
Interest accrual (using locked-in discount rate)50 40 
Benefit payments (actual)(143)(35)
Ending liability for future policy benefits at original (locked-in) discount rate2,339 1,618 
Effect of changes in discount rate assumptions(154)(22)
Liability for future policy benefits, end of the period - current discount rate$2,185 $1,596 
Net liability for future policy benefits$2,185 $1,302 
Less: Reinsurance recoverable— — 
Net liability for future policy benefits, net of reinsurance recoverable$2,185 $1,302 
_____________________________________________
(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 June 30, 2024 and 2023 were as follows:
In millionsJune 30,
2024		June 30,
2023
Large case pensions
Expected future benefit payments$3,159$3,398
Expected gross premiums——
Long-term care
Expected future benefit payments$3,207$3,238
Expected gross premiums408425

The weighted-average interest rate used in the measurement of the long-duration insurance liabilities as of June 30, 2024 and 2023 were as follows:
June 30,
2024		June 30,
2023
Large case pensions
Interest accretion rate4.20%4.20%
Current discount rate5.42%5.17%
Long-term care
Interest accretion rate5.11%5.11%
Current discount rate5.57%5.24%

The weighted-average durations (in years) of the long-duration insurance liabilities as of June 30, 2024 and 2023 were as follows:
June 30,
2024		June 30,
2023
Large case pensions7.37.4
Long-term care11.912.4
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 unaudited condensed consolidated balance sheets, during the six months ended June 30, 2024 and 2023:
Six Months Ended
June 30,
In millions, except weighted average crediting rate20242023
Policyholders’ funds, beginning of the period$332$345
Deposits received8(1)
Policy charges(1)(1)
Surrenders and withdrawals(7)(20)
Interest credited65
Change in net unrealized gains (losses)
(12)16
Other(13)(14)
Policyholders’ funds, end of the period$313$330
Weighted average crediting rate4.35%4.55%
Net amount at risk$— $— 
Cash surrender value$317 $323 
Summary of Separate Account Assets Separate Accounts financial assets as of June 30, 2024 and December 31, 2023 were as follows:
 June 30, 2024December 31, 2023
In millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$— $162 $— $162 $2 $166 $— $168 
Debt securities589 1,816 — 2,405 558 1,949 — 2,507 
Common/collective trusts— 571 — 571 — 529 — 529 
Total (1)
$589 $2,549 $— $3,138 $560 $2,644 $— $3,204 
_____________________________________________
(1)Excludes $49 million and $46 million of other receivables at June 30, 2024 and December 31, 2023, respectively.
The following table shows the fair value of assets, by major investment category, supporting Separate Accounts as of June 30, 2024 and December 31, 2023:
In millionsJune 30,
2024		December 31,
2023
Cash and cash equivalents$162 $168 
Debt securities:
U.S. government securities593 573 
States, municipalities and political subdivisions16 28 
U.S. corporate securities1,553 1,632 
Foreign securities199 202 
Residential mortgage-backed securities32 51 
Commercial mortgage-backed securities3 6 
Other asset-backed securities9 15 
Total debt securities2,405 2,507 
Common/collective trusts571 529 
Total (1)
$3,138 $3,204 
_____________________________________________
(1)Excludes $49 million and $46 million of other receivables at June 30, 2024 and December 31, 2023, respectively.
Roll Forward of Separate Accounts
The following table shows the components of the change in Separate Accounts liabilities during the six months ended June 30, 2024 and 2023:
Six Months Ended
June 30,
In millions20242023
Separate Accounts liability, beginning of the period$3,250 $3,228 
Premiums and deposits430 457 
Surrenders and withdrawals(152)(6)
Benefit payments(449)(495)
Investment earnings121 88 
Net transfers from general account4 2 
Other(17)(7)
Separate Accounts liability, end of the period$3,187 $3,267 
Cash surrender value, end of the period$2,171 $2,152