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Policyholders' Liabilities (Tables)
 3 Months Ended
Mar. 31, 2024
Policyholder Account Balances, Future Policy Benefits and Claims and Separate Account Liabilities [Abstract]  
Policyholder Account Balance
The balances of and changes in policyholders' account balances as of and for the periods ended are as follows:
Three Months Ended March 31, 2024
Fixed AnnuitiesVariable AnnuitiesVariable Life / Universal LifeTotal
($ in thousands)
Balance, beginning of period$6,164,313 $22,836,765 $20,167,713 $49,168,791 
Deposits1,553,852 1,624,956 529,212 3,708,020 
Interest credited43,517 97,851 138,059 279,427 
Policy charges2,208 (3,702)(455,538)(457,032)
Surrenders and withdrawals(103,696)(179,988)(199,907)(483,591)
Benefit payments(12,879)(4,926)(17,856)(35,661)
Net transfers (to) from separate account0 (6,723)84,803 78,080 
Change in market value and other adjustments(1)88,291 1,281,938 37,169 1,407,398 
Balance, end of period7,735,606 25,646,171 20,283,655 53,665,432 
Unearned revenue reserve3,908,497 
Other103,851 
Total Policyholders' account balance$57,677,780 
Weighted-average crediting rate2.50 %1.61 %2.73 %2.17 %
Net amount at risk(2)$18 $0 $327,231,561 $327,231,579 
Cash surrender value(3)$6,674,346 $23,282,269 $18,899,950 $48,856,565 
Three Months Ended March 31, 2023
Fixed Annuities(4)Variable AnnuitiesVariable Life / Universal LifeTotal
($ in thousands)
Balance, beginning of period$3,575,824 $16,432,032 $18,736,365 $38,744,221 
Deposits564,236 948,987 530,381 2,043,604 
Interest credited11,996 78,629 141,753 232,378 
Policy charges(118)(5,729)(451,990)(457,837)
Surrenders and withdrawals(43,158)(113,424)(216,334)(372,916)
Benefit payments(10,215)(10,624)(24,771)(45,610)
Net transfers (to) from separate account0 10,253 24,911 35,164 
Change in market value and other adjustments(1)9,343 191,448 84,425 285,216 
Balance, end of period4,107,908 17,531,572 18,824,740 40,464,220 
Unearned revenue reserve3,234,755 
Other(4)100,146 
Total Policyholders' account balance$43,799,121 
Weighted-average crediting rate1.25 %1.85 %3.02 %2.35 %
Net amount at risk(2)$7 $0 $308,975,503 $308,975,510 
Cash surrender value(3)$3,459,140 $15,338,366 $17,242,003 $36,039,509 
(1)     Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products.
(2)     The net amount at risk calculation includes both general and separate account balances.
(3)    Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges.
(4)     Prior period amounts have been updated to conform to current period presentation.
Policyholder Account Balance, Guaranteed Minimum Crediting Rate
The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums are as follows:
March 31, 2024
Range of Guaranteed Minimum Crediting Rate (1)At guaranteed minimum
1 -50 bps above guaranteed minimum
51 -150 bps above guaranteed minimum
Greater than 150 bps above guaranteed minimum
Total
(in thousands)
Fixed Annuities
Less than 1.00%
$285 $1,923 $6,312 $621,391 $629,911 
1.00% - 1.99%
473,330 72,870 217,461 80,120 843,781 
2.00% - 2.99%
300,163 465,693 564,226 15,919 1,346,001 
3.00% - 4.00%
324,553 1,941 2,156 241 328,891 
Greater than 4.00%
0 0 0 0 0 
Total$1,098,331 $542,427 $790,155 $717,671 $3,148,584 
Variable Annuities
Less than 1.00%
$865,767 $727,194 $69,871 $195 $1,663,027 
1.00% - 1.99%
216,457 23,819 924 0 241,200 
2.00% - 2.99%
20,916 4,192 4,174 0 29,282 
3.00% - 4.00%
878,815 6,926 0 0 885,741 
Greater than 4.00%
2,066 0 0 0 2,066 
Total$1,984,021 $762,131 $74,969 $195 $2,821,316 
Variable Life / Universal Life
Less than 1.00%
$0 $0 $0 $184,308 $184,308 
1.00% - 1.99%
226,470 0 1,661,933 1,514,100 3,402,503 
2.00% - 2.99%
29,823 1,462,438 2,854,281 201,794 4,548,336 
3.00% - 4.00%
3,904,574 2,376,925 918,116 0 7,199,615 
Greater than 4.00%
2,127,526 0 0 0 2,127,526 
Total$6,288,393 $3,839,363 $5,434,330 $1,900,202 $17,462,288 
March 31, 2023
Range of Guaranteed Minimum Crediting Rate (1)At guaranteed minimum
1 - 50 bps above guaranteed minimum
51 -150 bps above guaranteed minimum
Greater than 150 bps above guaranteed minimum
Total
(in thousands)
Fixed Annuities(2)
Less than 1.00%
$0 $23 $27 $0 $50 
1.00% - 1.99%
515,521 74,533 251,361 84,016 925,431 
2.00% - 2.99%
235,746 210,897 26,904 10,805 484,352 
3.00% - 4.00%
36,010 0 0 0 36,010 
Greater than 4.00%
0 0 0 0 0 
Total$787,277 $285,453 $278,292 $94,821 $1,445,843 
Variable Annuities
Less than 1.00%
$1,004,577 $848,029 $18,595 $2 $1,871,203 
1.00% - 1.99%
236,212 2,204 1,287 0 239,703 
2.00% - 2.99%
25,642 1,916 0 0 27,558 
3.00% - 4.00%
1,030,028 2,225 0 0 1,032,253 
Greater than 4.00%
2,160 0 0 0 2,160 
Total$2,298,619 $854,374 $19,882 $2 $3,172,877 
Variable Life / Universal Life
Less than 1.00%
$0 $0 $0 $10,513 $10,513 
1.00% - 1.99%
149,551 0 1,071,226 1,948,636 3,169,413 
2.00% - 2.99%
32,394 122,790 4,003,885 260,445 4,419,514 
3.00% - 4.00%
4,643,346 1,840,308 358,423 0 6,842,077 
Greater than 4.00%
2,134,411 0 0 0 2,134,411 
Total$6,959,702 $1,963,098 $5,433,534 $2,219,594 $16,575,928 
(1)     Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options.
(2)     Prior period amounts have been updated to conform to current period presentation.
Additional Liability, Long-Duration Insurance :
Three Months Ended March 31,
20242023
Variable Life / Universal Life
(in thousands)
Balance, beginning of period$3,741,426 $3,067,335 
Unearned revenue211,542200,262
Amortization expense(44,470)(32,752)
Other adjustments(1)(90)
Balance, end of period$3,908,497 $3,234,755 
Less: Reinsurance recoverables1,762,4171,583,054
Balance after reinsurance recoverables, end of period$2,146,080 $1,651,701