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Policyholders' Liabilities (Tables)
 6 Months Ended
Jun. 30, 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:
Six Months Ended June 30, 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 
Deposits2,787,898 3,752,999 1,062,220 7,603,117 
Interest credited90,612 207,176 279,382 577,170 
Policy charges(87)(12,007)(910,191)(922,285)
Surrenders and withdrawals(251,521)(370,351)(376,600)(998,472)
Benefit payments(24,948)(12,688)(33,912)(71,548)
Net transfers (to) from separate account0 41,403 169,366 210,769 
Change in market value and other adjustments(1)124,805 1,092,901 65,431 1,283,137 
Balance, end of period8,891,072 27,536,198 20,423,409 56,850,679 
Unearned revenue reserve4,082,015 
Other104,172 
Total Policyholders' account balance$61,036,866 
Weighted-average crediting rate2.41 %1.65 %2.75 %2.18 %
Net amount at risk(2)$20 $0 $332,247,799 $332,247,819 
Cash surrender value(3)$7,711,710 $25,912,600 $19,133,660 $52,757,970 
Six Months Ended June 30, 2023
Fixed Annuities(4)Variable AnnuitiesVariable Life / Universal LifeTotal
($ in thousands)
Balance, beginning of period$3,575,824 $16,432,032 $18,736,365 $38,744,221 
Deposits1,180,342 2,225,558 1,030,843 4,436,743 
Interest credited44,970 131,119 278,886 454,975 
Policy charges(3,078)(10,684)(903,228)(916,990)
Surrenders and withdrawals(101,470)(233,470)(400,194)(735,134)
Benefit payments(25,668)(15,067)(42,131)(82,866)
Net transfers (to) from separate account0 4,995 1,035,554 1,040,549 
Change in market value and other adjustments(1)69,817 954,563 139,608 1,163,988 
Balance, end of period4,740,737 19,489,046 19,875,703 44,105,486 
Unearned revenue reserve3,401,994 
Other(4)100,675 
Total Policyholders' account balance$47,608,155 
Weighted-average crediting rate2.15 %1.46 %2.89 %2.20 %
Net amount at risk(2)$38 $0 $313,218,977 $313,219,015 
Cash surrender value(3)$3,975,581 $17,391,104 $18,341,323 $39,708,008 
(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:
June 30, 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%
$412 $3,827 $9,924 $707,366 $721,529 
1.00% - 1.99%
448,198 69,557 200,379 78,195 796,329 
2.00% - 2.99%
303,024 461,269 562,666 16,064 1,343,023 
3.00% - 4.00%
825,027 5,007 7,862 2,261 840,157 
Greater than 4.00%
0 0 0 0 0 
Total$1,576,661 $539,660 $780,831 $803,886 $3,701,038 
Variable Annuities
Less than 1.00%
$618,306 $651,182 $253,768 $178 $1,523,434 
1.00% - 1.99%
184,745 118,146 2,380 0 305,271 
2.00% - 2.99%
19,218 4,138 4,185 0 27,541 
3.00% - 4.00%
856,020 5,501 2 0 861,523 
Greater than 4.00%
2,059 0 0 0 2,059 
Total$1,680,348 $778,967 $260,335 $178 $2,719,828 
Variable Life / Universal Life
Less than 1.00%
$0 $0 $0 $171,754 $171,754 
1.00% - 1.99%
246,886 0 1,678,254 1,580,722 3,505,862 
2.00% - 2.99%
28,501 1,479,940 2,693,293 371,908 4,573,642 
3.00% - 4.00%
3,841,175 2,170,158 1,107,301 0 7,118,634 
Greater than 4.00%
2,114,438 0 0 0 2,114,438 
Total$6,231,000 $3,650,098 $5,478,848 $2,124,384 $17,484,330 
June 30, 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 $94 $27 $180 $301 
1.00% - 1.99%
504,431 75,476 242,780 83,650 906,337 
2.00% - 2.99%
261,482 466,971 47,851 10,920 787,224 
3.00% - 4.00%
32,738 0 0 0 32,738 
Greater than 4.00%
0 0 0 0 0 
Total$798,651 $542,541 $290,658 $94,750 $1,726,600 
Variable Annuities
Less than 1.00%
$972,976 $833,696 $18,454 $2 $1,825,128 
1.00% - 1.99%
229,049 2,126 1,094 0 232,269 
2.00% - 2.99%
24,531 4,090 0 0 28,621 
3.00% - 4.00%
990,408 2,859 0 0 993,267 
Greater than 4.00%
2,091 0 0 0 2,091 
Total$2,219,055 $842,771 $19,548 $2 $3,081,376 
Variable Life / Universal Life
Less than 1.00%
$0 $0 $0 $9,078 $9,078 
1.00% - 1.99%
163,616 0 2,706,552 363,119 3,233,287 
2.00% - 2.99%
21,001 1,399,691 2,765,577 267,001 4,453,270 
3.00% - 4.00%
4,555,992 1,985,262 1,110,457 0 7,651,711 
Greater than 4.00%
2,159,217 0 0 0 2,159,217 
Total$6,899,826 $3,384,953 $6,582,586 $639,198 $17,506,563 
(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 :
Six Months Ended June 30,
20242023
Variable Life / Universal Life
(in thousands)
Balance, beginning of period$3,741,426 $3,067,336 
Unearned revenue430,230405,732
Amortization expense(89,640)(70,981)
Other adjustments(1)(93)
Balance, end of period$4,082,015 $3,401,994 
Less: Reinsurance recoverables1,794,0711,621,229
Balance after reinsurance recoverables, end of period$2,287,944 $1,780,765