XML 116 R105.htm IDEA: XBRL DOCUMENT v3.25.3
Fair Value of Financial Instruments - Fair Value Inputs Quantitative Information (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Assets    
Fixed maturity available-for-sale securities, at fair value $ 85,186 $ 81,900
Market risk benefit assets 4,694 4,860
Liabilities    
Market risk benefit liabilities (1,190) (1,046)
Corporate bonds    
Assets    
Fixed maturity available-for-sale securities, at fair value 63,466 61,833
CMBS    
Assets    
Fixed maturity available-for-sale securities, at fair value 2,064 1,583
ABS    
Assets    
Fixed maturity available-for-sale securities, at fair value 14,595 13,769
Hybrid and redeemable preferred securities    
Assets    
Fixed maturity available-for-sale securities, at fair value 244 241
Significant Unobservable Inputs (Level 3)    
Assets    
Equity securities 5 5
Market risk benefit assets 4,694 4,860
Liabilities    
Embedded derivative liability (14,829) (12,402)
Market risk benefit liabilities $ (1,190) $ (1,046)
Significant Unobservable Inputs (Level 3) | Minimum | Liquidity/Duration Adjustment    
Assets    
Equity securities, measurement input 0.045 0.045
Significant Unobservable Inputs (Level 3) | Minimum | Lapse    
Liabilities    
Embedded derivative liability, measurement input 0.000 0.000
Significant Unobservable Inputs (Level 3) | Maximum | Liquidity/Duration Adjustment    
Assets    
Equity securities, measurement input 0.045 0.045
Significant Unobservable Inputs (Level 3) | Maximum | Lapse    
Liabilities    
Embedded derivative liability, measurement input 0.090 0.090
Significant Unobservable Inputs (Level 3) | Weighted Average Range | Liquidity/Duration Adjustment    
Assets    
Equity securities, measurement input 0.045 0.045
Significant Unobservable Inputs (Level 3) | Corporate bonds    
Assets    
Fixed maturity available-for-sale securities, at fair value $ 246 $ 185
Significant Unobservable Inputs (Level 3) | Corporate bonds | Minimum | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.000 0.000
Significant Unobservable Inputs (Level 3) | Corporate bonds | Maximum | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.052 0.031
Significant Unobservable Inputs (Level 3) | Corporate bonds | Weighted Average Range | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.020 0.017
Significant Unobservable Inputs (Level 3) | CMBS    
Assets    
Fixed maturity available-for-sale securities, at fair value $ 42 $ 8
Significant Unobservable Inputs (Level 3) | CMBS | Minimum | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.017 0.019
Significant Unobservable Inputs (Level 3) | CMBS | Maximum | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.018 0.019
Significant Unobservable Inputs (Level 3) | CMBS | Weighted Average Range | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.018 0.019
Significant Unobservable Inputs (Level 3) | ABS    
Assets    
Fixed maturity available-for-sale securities, at fair value $ 8 $ 10
Significant Unobservable Inputs (Level 3) | ABS | Minimum | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.014 0.013
Significant Unobservable Inputs (Level 3) | ABS | Maximum | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.014 0.013
Significant Unobservable Inputs (Level 3) | ABS | Weighted Average Range | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.014 0.013
Significant Unobservable Inputs (Level 3) | Hybrid and redeemable preferred securities    
Assets    
Fixed maturity available-for-sale securities, at fair value $ 40 $ 19
Significant Unobservable Inputs (Level 3) | Hybrid and redeemable preferred securities | Minimum | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.010 0.014
Significant Unobservable Inputs (Level 3) | Hybrid and redeemable preferred securities | Maximum | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.020 0.019
Significant Unobservable Inputs (Level 3) | Hybrid and redeemable preferred securities | Weighted Average Range | Liquidity/Duration Adjustment    
Assets    
Fixed maturity AFS and trading securities, measurement input 0.018 0.018
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs    
Assets    
Market risk benefit assets $ 17 $ 14
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Minimum | Lapse    
Assets    
Market risk benefit, measurement input 0.010 0.010
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Minimum | Utilization of GLB Withdrawls    
Assets    
Market risk benefit, measurement input 0.850 0.850
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Minimum | Claims Utilization Factor    
Assets    
Market risk benefit, measurement input 0.500 0.600
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Minimum | Premiums Utilization Factor    
Assets    
Market risk benefit, measurement input 0.800 0.800
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Minimum | Non-Performance Risk    
Assets    
Market risk benefit, measurement input 0.002 0.003
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Minimum | Volatility    
Assets    
Market risk benefit, measurement input 0.010 0.010
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Maximum | Lapse    
Assets    
Market risk benefit, measurement input 0.300 0.300
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Maximum | Utilization of GLB Withdrawls    
Assets    
Market risk benefit, measurement input 1.000 1.000
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Maximum | Claims Utilization Factor    
Assets    
Market risk benefit, measurement input 1.000 1.000
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Maximum | Premiums Utilization Factor    
Assets    
Market risk benefit, measurement input 1.150 1.150
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Maximum | Non-Performance Risk    
Assets    
Market risk benefit, measurement input 0.018 0.020
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Maximum | Volatility    
Assets    
Market risk benefit, measurement input 0.270 0.290
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Weighted Average Range | Utilization of GLB Withdrawls    
Assets    
Market risk benefit, measurement input 0.930 0.920
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Weighted Average Range | Non-Performance Risk    
Assets    
Market risk benefit, measurement input 0.014 0.016
Significant Unobservable Inputs (Level 3) | Other assets – ceded MRBs | Weighted Average Range | Volatility    
Assets    
Market risk benefit, measurement input 0.151 0.145
Significant Unobservable Inputs (Level 3) | Other assets - indexed annuity ceded embedded derivatives    
Assets    
Embedded derivative asset $ 2,320 $ 1,970
Significant Unobservable Inputs (Level 3) | Other assets - indexed annuity ceded embedded derivatives | Minimum | Lapse    
Assets    
Embedded derivative asset, measurement input 0.000 0.000
Significant Unobservable Inputs (Level 3) | Other assets - indexed annuity ceded embedded derivatives | Maximum | Lapse    
Assets    
Embedded derivative asset, measurement input 0.090 0.090
Significant Unobservable Inputs (Level 3) | Other assets - LPR ceded derivative    
Assets    
Embedded derivative asset $ 204 $ 190
Significant Unobservable Inputs (Level 3) | Other assets - LPR ceded derivative | Minimum | Lapse    
Assets    
Embedded derivative asset, measurement input 0.001 0.001
Significant Unobservable Inputs (Level 3) | Other assets - LPR ceded derivative | Minimum | Non-Performance Risk    
Assets    
Embedded derivative asset, measurement input 0.002 0.003
Significant Unobservable Inputs (Level 3) | Other assets - LPR ceded derivative | Maximum | Lapse    
Assets    
Embedded derivative asset, measurement input 0.024 0.020
Significant Unobservable Inputs (Level 3) | Other assets - LPR ceded derivative | Maximum | Non-Performance Risk    
Assets    
Embedded derivative asset, measurement input 0.018 0.020
Significant Unobservable Inputs (Level 3) | Other assets - LPR ceded derivative | Weighted Average Range | Non-Performance Risk    
Assets    
Embedded derivative asset, measurement input 0.012 0.014
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs    
Liabilities    
Market risk benefit liabilities $ (2,689) $ (2,763)
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Minimum | Lapse    
Assets    
Market risk benefit, measurement input 0.010 0.010
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Minimum | Utilization of GLB Withdrawls    
Assets    
Market risk benefit, measurement input 0.850 0.850
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Minimum | Claims Utilization Factor    
Assets    
Market risk benefit, measurement input 0.500 0.600
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Minimum | Premiums Utilization Factor    
Assets    
Market risk benefit, measurement input 0.800 0.800
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Minimum | Non-Performance Risk    
Assets    
Market risk benefit, measurement input 0.002 0.003
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Minimum | Volatility    
Assets    
Market risk benefit, measurement input 0.010 0.010
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Maximum | Lapse    
Assets    
Market risk benefit, measurement input 0.300 0.300
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Maximum | Utilization of GLB Withdrawls    
Assets    
Market risk benefit, measurement input 1.000 1.000
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Maximum | Claims Utilization Factor    
Assets    
Market risk benefit, measurement input 1.000 1.000
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Maximum | Premiums Utilization Factor    
Assets    
Market risk benefit, measurement input 1.150 1.150
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Maximum | Non-Performance Risk    
Assets    
Market risk benefit, measurement input 0.018 0.020
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Maximum | Volatility    
Assets    
Market risk benefit, measurement input 0.270 0.290
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Weighted Average Range | Utilization of GLB Withdrawls    
Assets    
Market risk benefit, measurement input 0.930 0.920
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Weighted Average Range | Non-Performance Risk    
Assets    
Market risk benefit, measurement input 0.014 0.016
Significant Unobservable Inputs (Level 3) | Other liabilities – ceded MRBs | Weighted Average Range | Volatility    
Assets    
Market risk benefit, measurement input 0.151 0.145