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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Insurance premiums $ (2,766) $ 1,551 $ (1,235) $ 3,067
Fee income 1,118 1,307 2,228 2,628
Net investment income 1,232 1,476 2,456 2,885
Realized gain (loss) 283 (3,252) 226 (3,646)
Amortization of deferred gain (loss) on business sold through reinsurance 28 8 58 17
Other revenues 149 157 367 313
Total revenues 44 1,247 4,100 5,264
Expenses        
Benefits (2,726) 1,676 (989) 3,872
Interest credited 781 804 1,533 1,585
Market risk benefit (gain) loss (169) (1,238) (866) (168)
Policyholder liability remeasurement (gain) loss (107) (109) (118) (227)
Commissions and other expenses 1,290 1,322 2,693 2,594
Interest and debt expense 48 47 96 93
Total expenses (883) 2,502 2,349 7,749
Income (loss) before taxes 927 (1,255) 1,751 (2,485)
Federal income tax expense (benefit) 166 (299) 333 (601)
Net income (loss) 761 (956) 1,418 (1,884)
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) 136 2,119 669 3,896
Market risk benefit non-performance risk gain (loss) (197) (924) (661) 102
Policyholder liability discount rate remeasurement gain (loss) 85 102 190 (88)
Foreign currency translation adjustment 0 (1) 0 (1)
Total other comprehensive income (loss), net of tax 24 1,296 198 3,909
Comprehensive income (loss) $ 785 $ 340 $ 1,616 $ 2,025