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Policyholders' Liabilities (Tables)
 9 Months Ended
Sep. 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:
Nine Months Ended September 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 
Deposits4,149,820 5,900,477 1,592,896 11,643,193 
Interest credited150,642 332,007 426,382 909,031 
Policy charges(4,168)(21,369)(1,369,727)(1,395,264)
Surrenders and withdrawals(409,573)(558,335)(595,740)(1,563,648)
Benefit payments(42,344)(21,840)(50,251)(114,435)
Net transfers (to) from separate account0 48,394 275,312 323,706 
Change in market value and other adjustments(1)218,164 1,974,887 139,231 2,332,282 
Balance, end of period10,226,854 30,490,986 20,585,816 61,303,656 
Unearned revenue reserve4,248,795 
Other106,109 
Total Policyholders' account balance$65,658,560 
Weighted-average crediting rate2.45 %1.66 %2.79 %2.19 %
Net amount at risk(2)$16 $0 $336,737,789 $336,737,805 
Cash surrender value(3)$9,070,551 $29,028,016 $19,188,896 $57,287,463 
Nine Months Ended September 30, 2023
Fixed AnnuitiesVariable AnnuitiesVariable Life / Universal LifeTotal
($ in thousands)
Balance, beginning of period$3,575,824 $16,432,032 $18,736,365 $38,744,221 
Deposits1,801,985 3,439,562 1,543,230 6,784,777 
Interest credited73,763 194,853 415,843 684,459 
Policy charges(5,683)(16,564)(1,357,363)(1,379,610)
Surrenders and withdrawals(161,929)(351,475)(579,913)(1,093,317)
Benefit payments(37,459)(22,285)(62,055)(121,799)
Net transfers (to) from separate account (4)0 4,467 1,115,178 1,119,645 
Change in market value and other adjustments(1)81,544 1,095,144 76,107 1,252,795 
Balance, end of period5,328,045 20,775,734 19,887,392 45,991,171 
Unearned revenue reserve3,568,084 
Other102,815 
Total Policyholders' account balance$49,662,070 
Weighted-average crediting rate2.21 %1.40 %2.87 %2.15 %
Net amount at risk(2)$12 $0 $318,075,705 $318,075,717 
Cash surrender value(3)$4,491,679 $17,981,713 $18,517,769 $40,991,161 
(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) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 14 for additional information.
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:
September 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%
$282 $2,972 $10,290 $967,347 $980,891 
1.00% - 1.99%
441,774 59,029 191,790 74,650 767,243 
2.00% - 2.99%
303,925 460,949 559,932 16,511 1,341,317 
3.00% - 4.00%
1,375,404 5,996 10,086 3,299 1,394,785 
Greater than 4.00%
0 0 0 0 0 
Total$2,121,385 $528,946 $772,098 $1,061,807 $4,484,236 
Variable Annuities
Less than 1.00%
$323,585 $622,340 $447,015 $180 $1,393,120 
1.00% - 1.99%
153,336 211,058 2,505 0 366,899 
2.00% - 2.99%
17,807 3,907 4,181 0 25,895 
3.00% - 4.00%
839,084 4,128 1 0 843,213 
Greater than 4.00%
2,038 0 0 0 2,038 
Total$1,335,850 $841,433 $453,702 $180 $2,631,165 
Variable Life / Universal Life
Less than 1.00%
$0 $0 $0 $162,543 $162,543 
1.00% - 1.99%
261,986 0 1,692,401 1,615,106 3,569,493 
2.00% - 2.99%
29,281 1,504,536 2,695,744 377,103 4,606,664 
3.00% - 4.00%
3,788,853 2,139,715 1,107,161 0 7,035,729 
Greater than 4.00%
2,105,249 0 0 0 2,105,249 
Total$6,185,369 $3,644,251 $5,495,306 $2,154,752 $17,479,678 
September 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
Less than 1.00%
$85 $188 $430 $20,481 $21,184 
1.00% - 1.99%
497,237 74,579 237,130 82,040 890,986 
2.00% - 2.99%
280,760 469,123 319,721 12,466 1,082,070 
3.00% - 4.00%
31,048 0 0 0 31,048 
Greater than 4.00%
0 0 0 0 0 
Total$809,130 $543,890 $557,281 $114,987 $2,025,288 
Variable Annuities
Less than 1.00%
$944,205 $821,295 $18,262 $2 $1,783,764 
1.00% - 1.99%
221,831 2,113 1,086 0 225,030 
2.00% - 2.99%
26,319 4,332 2,979 0 33,630 
3.00% - 4.00%
956,761 3,416 0 0 960,177 
Greater than 4.00%
2,027 0 0 0 2,027 
Total$2,151,143 $831,156 $22,327 $2 $3,004,628 
Variable Life / Universal Life
Less than 1.00%
$0 $0 $0 $217,003 $217,003 
1.00% - 1.99%
185,341 0 2,528,250 572,113 3,285,704 
2.00% - 2.99%
27,536 1,418,150 2,778,586 268,998 4,493,270 
3.00% - 4.00%
4,008,791 2,241,159 1,114,429 0 7,364,379 
Greater than 4.00%
2,147,756 0 0 0 2,147,756 
Total$6,369,424 $3,659,309 $6,421,265 $1,058,114 $17,508,112 
(1)     Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options.
Additional Liability, Long-Duration Insurance
The balances of and changes in URR as of and for the periods ended are as follows:

Nine Months Ended September 30,
20242023
Variable Life / Universal Life
(in thousands)
Balance, beginning of period$3,741,426 $3,067,336 
Unearned revenue644,001612,196
Amortization expense(136,630)(111,353)
Other adjustments(2)(95)
Balance, end of period$4,248,795 $3,568,084 
Less: Reinsurance recoverables1,822,5971,656,299
Balance after reinsurance recoverables, end of period$2,426,198 $1,911,785