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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Insurance premiums $ 458 $ 1,559 $ 3,698 $ 322
Fee income 1,147 1,118 3,379 3,347
Net investment income 1,439 1,309 4,152 3,775
Realized gain (loss) (330) (571) (740) (345)
Other revenues 75 67 248 483
Total revenues 2,789 3,482 10,737 7,582
Expenses        
Benefits 547 1,572 3,925 583
Policyholder liability remeasurement (gain) loss (130) (63) (204) (182)
Interest credited 887 808 2,559 2,341
Market risk benefit (gain) loss (200) 676 (27) (190)
Commissions and other expenses 1,338 1,238 3,891 3,932
Interest and debt expense 39 46 119 142
Total expenses 2,481 4,277 10,263 6,626
Income (loss) before taxes 308 (795) 474 956
Federal income tax expense (benefit) 33 (195) 11 138
Net income (loss) 275 (600) 463 818
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) 466 320 1,003 989
Market risk benefit non-performance risk gain (loss) (171) 373 (204) (288)
Policyholder liability discount rate remeasurement gain (loss) (73) (226) (201) (36)
Foreign currency translation adjustment 0 (1) 0 (1)
Total other comprehensive income (loss), net of tax 222 466 598 664
Comprehensive income (loss) $ 497 $ (134) $ 1,061 $ 1,482