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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Investments:    
Available-for-sale, Debt Securities, Excluding Securities Valued at Fair Value Option $ 19,819 $ 17,848
Fixed maturities, at fair value using the fair value option 1,218 1,197
Equity Securities, FV-NI, Current 73 66
Other Short-Term Investments 72 20
Mortgage loans on real estate, net 4,521 3,613
Policy loans 160 163
Limited partnerships/corporations 1,246 1,227
Derivatives 196 239
Other investments 99 94
Total investments 28,261 25,556
Cash and cash equivalents 194 516
Short-term investments under securities loan agreements, including collateral delivered 821 839
Accrued investment income 309 276
Premiums and Other Receivables, Net 2,529 2,560
Deferred policy acquisition costs ("DAC") and Value of business acquired ("VOBA") 1,286 907
Deferred Income Tax Assets, Net 600 662
Other assets (net of allowance for credit losses of $0 as of 2025 and 2024) 2,849 1,396
Assets held in separate accounts 96,065 98,579
Total assets 132,914 131,291
Liabilities and Shareholder's Equity    
Future policy benefits and contract owner account balances 32,917 29,268
Payables under securities loan and repurchase agreements, including collateral held 925 897
Related Party [Member] 97 100
Derivatives 232 268
Other liabilities 694 639
Liabilities related to separate accounts 96,065 98,579
Total liabilities 130,930 129,751
Commitments and Contingencies (Note 13)
Shareholder's equity:    
Common Stock, Value, Issued 3 3
Additional paid-in capital 2,929 2,754
Accumulated other comprehensive income (loss) (1,441) (1,644)
Retained earnings (deficit) 493 427
Total shareholder's equity 1,984 1,540
Total liabilities and shareholder's equity 132,914 131,291
Collateral Pledged    
Investments:    
Debt Securities, Available-for-Sale, Restricted $ 857 $ 1,089