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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investments:    
Available-for-sale, Debt Securities, Excluding Securities Valued at Fair Value Option $ 17,848 $ 18,713
Fixed maturities, at fair value using the fair value option 1,197 1,328
Equity Securities, FV-NI, Current 66 65
Short-term investments 20 86
Financing Receivable, after Allowance for Credit Loss, Current 3,613 4,026
Policy loans 163 161
Limited partnerships/corporations 1,227 1,046
Derivatives 239 213
Other Investments 94 88
Total investments 25,556 26,524
Cash and cash equivalents 516 186
Short-term investments under securities loan agreements, including collateral delivered 839 789
Accrued investment income 276 283
Premiums and Other Receivables, Net 2,560 2,899
Deferred policy acquisition costs and Value of business acquired 907 920
Deferred Income Tax Assets, Net 662 633
Other assets (net of allowance for credit loss of $0 as of 2024 and 2023) 1,396 1,726
Separate Account Asset 98,579 90,282
Total assets 131,291 124,242
Liabilities and Shareholder's Equity    
Future policy benefits and contract owner account balances 29,268 30,577
Payables under securities loan and repurchase agreements, including collateral held 897 692
Related Party Deposit Liabilities 100 173
Derivatives 268 299
Other liabilities 639 679
Liabilities related to separate accounts 98,579 90,282
Total liabilities 129,751 122,702
Commitments and Contingencies (Note 15)
Shareholder's equity:    
Common Stock, Value, Issued 3 3
Additional paid-in capital 2,754 2,770
Accumulated other comprehensive income (loss) (1,644) (1,531)
Retained earnings 427 298
Total shareholder's equity 1,540 1,540
Total liabilities and shareholder's equity 131,291 124,242
Collateral Pledged    
Investments:    
Debt Securities, Available-for-Sale, Restricted $ 1,089 $ 798