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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Investments:    
Available-for-sale, Debt Securities, Excluding Securities Valued at Fair Value Option $ 20,862 $ 17,848
Fixed maturities, at fair value using the fair value option 1,131 1,197
Equity Securities, FV-NI, Current 72 66
Short-term investments 6 20
Financing Receivable, after Allowance for Credit Loss, Current 4,575 3,613
Policy loans 157 163
Limited partnerships/corporations 1,365 1,227
Derivatives 154 239
Other Investments 61 94
Total investments 29,228 25,556
Cash and cash equivalents 352 516
Short-term investments under securities loan agreements, including collateral delivered 791 839
Accrued investment income 300 276
Premiums and Other Receivables, Net 2,421 2,560
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net 1,257 907
Deferred Income Tax Assets, Net 513 662
Other assets (net of allowance for credit loss of $0 as of 2025 and 2024) 2,795 1,396
Separate Account Asset 109,772 98,579
Total assets 147,429 131,291
Liabilities and Shareholder's Equity    
Future policy benefits and contract owner account balances 33,244 29,268
Payables under securities loan and repurchase agreements, including collateral held 826 897
Related Party Deposit Liabilities 124 100
Derivatives 232 268
Other liabilities 806 639
Separate Account, Liability 109,772 98,579
Total liabilities 145,004 129,751
Commitments and Contingencies (Note 15)
Shareholder's equity:    
Common Stock, Value, Issued 3 3
Additional paid-in capital 2,929 2,754
Accumulated other comprehensive income (loss) (1,134) (1,644)
Retained earnings 627 427
Total shareholder's equity 2,425 1,540
Total liabilities and shareholder's equity 147,429 131,291
Collateral Pledged    
Investments:    
Debt Securities, Available-for-Sale, Restricted $ 845 $ 1,089