XML 83 R72.htm IDEA: XBRL DOCUMENT v3.25.1
Market risk benefits (MRB Roll-Forward) (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Market Risk Benefit [Line Items]    
Market risk benefits gains (losses) $ (92) $ 21
Long-Duration Insurance, Other | Variable Annuity    
Market Risk Benefit [Line Items]    
Balance - beginning of period 607 771
Balance, beginning of period, before effect of changes in the instrument-specific credit risk 592 749
Interest rate changes 46 (57)
Effect of market movements (1) [1] 52 (77)
Effect of changes in volatilities 16 (20)
Market Risk Benefit, Increase (Decrease) from Actual Policyholder Behavior Different from Expected 16 30
Effect of timing and all other (25) (31)
Balance, end of period, before effect of changes in the instrument-specific credit risk 697 594
Effect of changes in the instrument-specific credit risk 11 17
Balance - end of period 708 611
Market Risk Benefit, Net Amount at Risk [2] 1,654 1,683
Market Risk Benefits Other Gains (Losses) $ 14 $ (134)
Weighted-average age of policyholders (years) 74 years 74 years
[1] Market movements are predominantly driven by changes in equities.
[2] The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.