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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below provides a summary of the gross notional amount and fair value of derivative contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables and deposit receivables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account the netting effects of master netting agreements and cash collateral.
 December 31, 2024December 31, 2023
Primary Underlying Risk/Instrument TypeGross
Notional		Fair ValueGross
Notional		Fair Value
AssetsLiabilitiesAssetsLiabilities
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Currency/Interest Rate
Interest Rate Swaps$2,851 $0 $(209)$3,064 $0 $(238)
Foreign Currency Swaps3,308,842 202,606 (27,523)2,274,636 121,243 (54,044)
Total Derivatives Designated as Hedge Accounting Instruments$3,311,693 $202,606 $(27,732)$2,277,700 $121,243 $(54,282)
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate
Interest Rate Swaps$174,170,160 $9,029,399 $(20,888,553)$163,179,764 $6,605,817 $(17,820,436)
Interest Rate Futures1,518,400 1,967 (1,443)1,332,600 3,055 (210)
Interest Rate Options29,135,000 279,414 (1,406,265)29,738,000 189,112 (969,718)
Interest Rate Forwards0 0 0 1,458,000 741 (3,196)
Interest Rate Total Return Swaps
223,721 1,472 (2,121)0 0 0 
Foreign Currency
Foreign Currency Forwards1,146,861 30,078 (181)744,576 1,772 (12,232)
Credit
Credit Default Swaps911,850 9,606 0 643,280 7,727 0 
Currency/Interest Rate
Foreign Currency Swaps2,285,052 164,152 (9,277)2,237,331 96,618 (31,294)
Equity
Equity Total Return Swaps
23,025,217 1,160,080 (1,182,913)15,049,993 418,084 (803,452)
Equity Options117,107,059 4,453,762 (3,717,637)49,247,510 1,600,335 (1,552,706)
Equity Futures1,802,205 15 (6,060)418,973 1,232 (500)
Synthetic GICs3,958,847 143 (31)311,302 1 0 
Total Derivatives Not Qualifying as Hedge Accounting Instruments$355,284,372 $15,130,088 $(27,214,481)$264,361,329 $8,924,494 $(21,193,744)
Total Derivatives(1)(2)$358,596,065 $15,332,694 $(27,242,213)$266,639,029 $9,045,737 $(21,248,026)
(1)Excludes embedded derivatives which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $11,968 million and $7,505 million as of December 31, 2024 and 2023, respectively, primarily included in "Policyholders' account balances".
(2)Recorded in “Other invested assets” and “Payables to parent and affiliates” on the Consolidated Statements of Financial Position.
Offsetting of Financial Assets
The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverable and deposit receivables), and repurchase and reverse repurchase agreements that are offset in the Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Consolidated Statements of Financial Position.
 December 31, 2024
 Gross
Amounts of
Recognized
Financial
Instruments		Gross
Amounts
Offset in the Consolidated
Statements of
Financial
Position		Net
Amounts
Presented in
the Consolidated Statements
of Financial
Position		Financial
Instruments/
Collateral(1)		Net Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives$15,332,538 $(15,308,195)$24,343 $0 $24,343 
Securities purchased under agreements to resell0 0 0 0 0 
Total Assets$15,332,538 $(15,308,195)$24,343 $0 $24,343 
Offsetting of Financial Liabilities:
Derivatives$27,242,182 $(23,619,586)$3,622,596 $(3,622,596)$0 
Total Liabilities$27,242,182 $(23,619,586)$3,622,596 $(3,622,596)$0 

 December 31, 2023
 Gross
Amounts of
Recognized
Financial
Instruments		Gross
Amounts
Offset in the Consolidated
Statements of
Financial
Position		Net
Amounts
Presented in
the Consolidated Statements
of Financial
Position		Financial
Instruments/
Collateral(1)		Net Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives$9,045,718 $(9,028,019)$17,699 $0 $17,699 
Securities purchased under agreements to resell25,000 0 25,000 0 25,000 
Total Assets$9,070,718 $(9,028,019)$42,699 $0 $42,699 
Offsetting of Financial Liabilities:
Derivatives$21,248,026 $(18,596,679)$2,651,347 $(2,651,347)$0 
Total Liabilities$21,248,026 $(18,596,679)$2,651,347 $(2,651,347)$0 
(1)Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Offsetting of Financial Liabilities
The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverable and deposit receivables), and repurchase and reverse repurchase agreements that are offset in the Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Consolidated Statements of Financial Position.
 December 31, 2024
 Gross
Amounts of
Recognized
Financial
Instruments		Gross
Amounts
Offset in the Consolidated
Statements of
Financial
Position		Net
Amounts
Presented in
the Consolidated Statements
of Financial
Position		Financial
Instruments/
Collateral(1)		Net Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives$15,332,538 $(15,308,195)$24,343 $0 $24,343 
Securities purchased under agreements to resell0 0 0 0 0 
Total Assets$15,332,538 $(15,308,195)$24,343 $0 $24,343 
Offsetting of Financial Liabilities:
Derivatives$27,242,182 $(23,619,586)$3,622,596 $(3,622,596)$0 
Total Liabilities$27,242,182 $(23,619,586)$3,622,596 $(3,622,596)$0 

 December 31, 2023
 Gross
Amounts of
Recognized
Financial
Instruments		Gross
Amounts
Offset in the Consolidated
Statements of
Financial
Position		Net
Amounts
Presented in
the Consolidated Statements
of Financial
Position		Financial
Instruments/
Collateral(1)		Net Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives$9,045,718 $(9,028,019)$17,699 $0 $17,699 
Securities purchased under agreements to resell25,000 0 25,000 0 25,000 
Total Assets$9,070,718 $(9,028,019)$42,699 $0 $42,699 
Offsetting of Financial Liabilities:
Derivatives$21,248,026 $(18,596,679)$2,651,347 $(2,651,347)$0 
Total Liabilities$21,248,026 $(18,596,679)$2,651,347 $(2,651,347)$0 
(1)Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following tables provide the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, excluding the offset of the hedged item in an effective hedge relationship.
  
Year Ended December 31, 2024
 Realized
Investment
Gains (Losses)		Change in Value of Market Risk Benefits, Net of Related Hedging Gains (Losses)Net
Investment
Income		Other
Income
(Loss)		Change in AOCI
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Cash flow hedges
Interest Rate$3 $0 $(118)$0 $46 
Currency/Interest Rate2,256 0 48,523 34,827 98,585 
Total cash flow hedges2,259 0 48,405 34,827 98,631 
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate35,600 (2,094,268)0 0 0 
Currency54,543 0 0 0 0 
Currency/Interest Rate77,166 0 0 523 0 
Credit16,856 0 0 0 0 
Equity3,207,538 (761,850)0 0 0 
Embedded Derivatives(2,680,559)0 0 0 0 
Total Derivatives Not Qualifying as Hedge Accounting Instruments711,144 (2,856,118)0 523 0 
Total$713,403 $(2,856,118)$48,405 $35,350 $98,631 
  
Year Ended December 31, 2023
 
Realized
Investment
Gains (Losses)
Change in Value of Market Risk Benefits, Net of Related Hedging Gains (Losses)Net
Investment
Income		Other
Income
(Loss)		Change in AOCI
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Cash flow hedges
Interest Rate$2 $0 $(118)$0 $72 
Currency/Interest Rate(636)0 43,934 (26,206)(126,765)
Total cash flow hedges(634)0 43,816 (26,206)(126,693)
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate25,329 (1,555,807)0 0 0 
Currency(16,012)0 0 0 0 
Currency/Interest Rate(102,238)0 0 (257)0 
Credit14,350 0 0 0 0 
Equity1,744,218 (821,996)0 0 0 
Embedded Derivatives(1)(2,798,232)0 0 0 0 
Total Derivatives Not Qualifying as Hedge Accounting Instruments(1,132,585)(2,377,803)0 (257)0 
Total$(1,133,219)$(2,377,803)$43,816 $(26,463)$(126,693)

 Year Ended December 31, 2022
 Realized
Investment
Gains (Losses)		Change in Value of Market Risk Benefits, Net of Related Hedging Gains (Losses)Net
Investment
Income		Other
Income
(Loss)		Change in AOCI
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Cash flow hedges
Interest Rate$1 $0 $(8)$0 $(312)
Currency/Interest Rate7,636 0 36,734 34,070 99,043 
Total cash flow hedges7,637 0 36,726 34,070 98,731 
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate661,978 (5,230,085)0 0 0 
Currency18,952 0 0 0 0 
Currency/Interest Rate107,388 0 0 557 0 
Credit(15,904)0 0 0 0 
Equity40,076 1,050,139 0 0 0 
Embedded Derivatives(1)(359,268)0 0 0 0 
Total Derivatives Not Qualifying as Hedge Accounting Instruments453,222 (4,179,946)0 557 0 
Total$460,859 $(4,179,946)$36,726 $34,627 $98,731 
(1) Amounts reflect revision to prior period Financial Statements. See Note 17 for additional information.
Schedule of Derivative Instruments Recognized in Accumulated Other Comprehensive Income(Loss) Before Taxes
Presented below is a rollforward of current period cash flow hedges in AOCI before taxes:
(in thousands)
Balance, December 31, 2021$39,896 
Amount recorded in AOCI
Interest Rate(319)
Currency/Interest Rate177,483 
Total amount recorded in AOCI177,164 
Amount reclassified from AOCI to income
Interest Rate7 
Currency/Interest Rate(78,440)
Total amount reclassified from AOCI to income(78,433)
Balance, December 31, 2022$138,627 
Amount recorded in AOCI
Interest Rate(44)
Currency/Interest Rate(109,673)
Total amount recorded in AOCI(109,717)
Amount reclassified from AOCI to income
Interest Rate116 
Currency/Interest Rate(17,092)
Total amount reclassified from AOCI to income(16,976)
Balance, December 31, 2023$11,934 
Amount recorded in AOCI
Interest Rate(69)
Currency/Interest Rate184,191 
Total amount recorded in AOCI184,122 
Amount reclassified from AOCI to income
Interest Rate115 
Currency/Interest Rate(85,606)
Total amount reclassified from AOCI to income(85,491)
Balance, December 31, 2024$110,565