Market Risk Benefits (Tables)

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

Market Risk Benefit, Activity

Information regarding MRB assets and liabilities associated with variable annuities was as follows:

	Years Ended December 31,
	2024		2023		2022
	(Dollars in millions)
Balance, beginning of year	$	9,722	$	9,997	$	15,726
Balance, beginning of year, before effect of changes in nonperformance risk	7,348		8,253		11,639
Decrements	(180)		(176)		16
Effect of changes in future expected assumptions	(53)		260		212
Effect of actual different from expected experience	140		186		(48)
Effect of changes in interest rates	(1,940)		(427)		(8,397)
Effect of changes in fund returns	(973)		(2,203)		3,806
Issuances	(4)		(7)		(47)
Effect of changes in risk margin	(72)		(34)		(152)
Aging of the block and other	970		1,496		1,224
Balance, end of year, before effect of changes in nonperformance risk	5,236		7,348		8,253
Effect of changes in nonperformance risk	2,014		2,374		1,744
Balance, end of year	7,250		9,722		9,997
Less: Reinsurance recoverable, end of year	17		43		71
Balance, end of year, net of reinsurance (1)	$	7,233	$	9,679	$	9,926
Weighted-average attained age of contract holder	73.9 years		73.0 years		71.8 years

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(1)Amounts represent the sum of MRB assets and MRB liabilities presented on the consolidated balance sheets at December 31, 2024, 2023 and 2022, with the exception of $21 million, $9 million and $2 million, respectively, of index-linked annuities not included in this table.