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Policyholders' Account Balances (Tables)
 9 Months Ended
Sep. 30, 2025
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, 2025
Fixed AnnuitiesVariable AnnuitiesVariable Life / Universal LifeTotal
($ in thousands)
Balance, beginning of period$11,197,337 $33,217,331 $20,691,139 $65,105,807 
Deposits4,057,964 5,582,233 1,736,350 11,376,547 
Interest credited275,067 513,687 256,251 1,045,005 
Policy charges(37,914)(54,154)(1,381,473)(1,473,541)
Surrenders and withdrawals(658,623)(788,183)(716,695)(2,163,501)
Benefit payments(85,274)(16,527)(99,155)(200,956)
Net transfers (to) from separate account0 8,997 332,595 341,592 
Change in market value and other adjustments(1)184,070 2,883,756 561,302 3,629,128 
Balance, end of period$14,932,627 $41,347,140 $21,380,314 77,660,081 
Unearned revenue reserve4,900,569 
Other109,765 
Total Policyholders' account balance$82,670,415 
Weighted-average crediting rate2.81 %1.84 %1.62 %1.95 %
Net amount at risk(2)$1 $0 $361,086,097 $361,086,098 
Cash surrender value(3)$13,499,825 $39,974,409 $19,820,658 $73,294,892 
Nine Months Ended September 30, 2024
Fixed AnnuitiesVariable AnnuitiesVariable Life / Universal LifeTotal
($ in thousands)
Balance, beginning of period$6,164,313 $22,810,665 $20,167,713 $49,142,691 
Deposits4,149,820 5,900,477 1,592,896 11,643,193 
Interest credited(4)150,642 365,807 426,382 942,831 
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)(4)218,164 1,967,187 139,231 2,324,582 
Balance, end of period$10,226,854 $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 rate(4)2.45 %1.83 %2.79 %2.28 %
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 
(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) Amounts reflect revision to prior period Financial Statements. See Note 17 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 ("bps"), between rates being credited to policyholders and the respective guaranteed minimums are as follows:
September 30, 2025
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%
$1,611 $4,936 $20,965 $1,247,657 $1,275,169 
1.00% - 1.99%
387,602 43,815 180,112 49,111 660,640 
2.00% - 2.99%
326,532 982,984 545,376 14,825 1,869,717 
3.00% - 4.00%
2,880,118 5,541 10,876 2,659 2,899,194 
Greater than 4.00%
0 0 0 0 0 
Total$3,595,863 $1,037,276 $757,329 $1,314,252 $6,704,720 
Variable Annuities
Less than 1.00%
$440,854 $167,737 $352,098 $2 $960,691 
1.00% - 1.99%
91,879 404,559 625 0 497,063 
2.00% - 2.99%
16,125 4,691 3,966 0 24,782 
3.00% - 4.00%
741,993 0 0 0 741,993 
Greater than 4.00%
1,286 0 0 0 1,286 
Total$1,292,137 $576,987 $356,689 $2 $2,225,815 
Variable Life / Universal Life
Less than 1.00%
$0 $0 $0 $199,934 $199,934 
1.00% - 1.99%
361,645 0 1,855,456 1,655,649 3,872,750 
2.00% - 2.99%
37,032 1,579,665 2,684,565 403,837 4,705,099 
3.00% - 4.00%
3,912,686 1,690,724 1,057,716 0 6,661,126 
Greater than 4.00%
2,047,487 0 0 0 2,047,487 
Total$6,358,850 $3,270,389 $5,597,737 $2,259,420 $17,486,396 
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 
(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,
20252024
Variable Life / Universal Life
(in thousands)
Balance, beginning of period$4,415,188 $3,741,426 
Unearned revenue636,336644,001
Amortization expense(150,980)(136,630)
Other adjustments25 (2)
Balance, end of period$4,900,569 $4,248,795