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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value The following table presents the notional amounts and gross fair value of derivative instruments prior to taking into account the netting effects of master netting agreements as of March 31, 2025 and December 31, 2024 (dollars in millions):
 March 31, 2025December 31, 2024
 Primary
 Underlying Risk		NotionalCarrying Value/Fair ValueNotionalCarrying Value/Fair Value
 AmountAssetsLiabilitiesAmountAssetsLiabilities
Derivatives not designated as hedging instruments:
Interest rate swapsInterest rate$1,886 $6 $14 $1,848 $6 $20 
Interest rate optionsInterest rate2,273 3 — 1,773 1 — 
Total return swapsInterest rate865 — 25 956 — 14 
Foreign currency swapsForeign currency150 42 — 150 47 — 
Foreign currency forwardsForeign currency1,101 3 20 1,148 9 37 
Foreign currency optionsForeign currency430 — — 430 1 — 
Equity optionsEquity669 11 2 255 5 1 
Equity futuresEquity223 — — 209 — — 
Credit default swapsCredit4,165 2 21 2,661 4 6 
Credit default index swaps optionsCredit250 — — — — — 
Other swapsCredit1,300 1 1 1,300 2 2 
CPI swapsCPI394 4 5 408 6 2 
Synthetic GICsInterest rate16,176 — — 15,362 — — 
Embedded derivatives in:
Modco or funds withheld arrangements— 285 351 — 283 338 
Indexed products— — 383 — — 435 
Total non-designated derivatives29,882 357 822 26,500 364 855 
Derivatives designated as hedging instruments:
Interest rate swapsInterest rate3,301 27 72 3,336 5 103 
Forward bond purchase commitmentsInterest rate2,507 3 202 2,020 — 206 
Foreign currency swapsForeign currency2,008 6 160 2,008 7 159 
Foreign currency forwardsForeign currency1,933 47 5 1,966 94 — 
Total hedging derivatives9,749 83 439 9,330 106 468 
Total derivatives$39,631 $440 $1,261 $35,830 $470 $1,323 
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] The gain or loss on the hedged item attributable to a change in interest rates or foreign currency and the offsetting gain or loss on the related interest rate or foreign currency swaps for the three months ended March 31, 2025 and 2024 are as follows (dollars in millions):
Derivative TypeHedged ItemInvestment Related
Gains (Losses), Net		Claims and Other Policy
Benefits		Interest Credited
DerivativesHedged ItemsDerivativesHedged ItemsDerivativesHedged Items
For the three months ended March 31, 2025:
Foreign currency swapsForeign-denominated fixed maturity securities$— $— $— $— $— $— 
Interest rate swapsFuture policy benefits— — 13 (13)— — 
Interest rate swapsInterest-sensitive contract liabilities— — — — 20 (25)
For the three months ended March 31, 2024:
Foreign currency swapsForeign-denominated fixed maturity securities(1)— — — — — 
Interest rate swapsFuture policy benefits— — — — — — 
Interest rate swapsInterest-sensitive contract liabilities— — — — (2)1 
The following table presents the balance sheet classification, carrying amount and cumulative fair value hedging adjustments for items designated and qualifying as hedged items in fair value hedges (dollars in millions):
Hedged ItemCarrying Amount of
the Hedged Assets / (Liabilities)		Cumulative Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets / (Liabilities) Discontinued Fair Value Hedge Adjustments Included in the Cumulative Adjustments
March 31, 2025December 31,
2024		March 31, 2025December 31,
2024		March 31, 2025December 31,
2024
Future policy benefits$(580)$(508)$(6)$7 $8 $— 
Interest-sensitive contract liabilities(998)(1,111)(14)11 10 — 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table presents the cash flow hedge components of AOCI, before income taxes, and where the gain or loss related to cash flow hedges is recognized on the condensed consolidated income statement classification for the three months ended March 31, 2025 and 2024 (dollars in millions):
 Three months ended March 31,
 20252024
Balance, beginning of period$(495)$(218)
Gains (losses), net deferred in other comprehensive income (loss)(6)(86)
Amounts reclassified to net investment income18 8 
Amounts reclassified to interest expense(2)(3)
Balance, end of period$(485)$(299)
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents the effect of derivatives in cash flow hedging relationships on the condensed consolidated statements of income for the three months ended March 31, 2025 and 2024 (dollars in millions):
Derivative TypeGains (Losses)
 Deferred in OCI		Gains (Losses) Reclassified into Income from
AOCI
Net Investment IncomeInterest Expense
For the three months ended March 31, 2025:
Interest rate$12 $(1)$2 
Foreign currency(18)(17)— 
Total$(6)$(18)$2 
For the three months ended March 31, 2024:
Interest rate$(57)$(3)$3 
Foreign currency(29)(5)— 
Total$(86)$(8)$3 
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block] The following table illustrates the Company’s net investments in foreign operations (“NIFO”) hedges and the gains (losses) deferred in OCI for the three months ended March 31, 2025 and 2024 (dollars in millions):
 Derivative Gains (Losses) Deferred in OCI   
 For the three months ended March 31,
Derivative Type20252024
Foreign currency forwards$(15)$25 
Derivatives Not Designated as Hedging Instruments [Table Text Block]
A summary of the effect of non-qualifying derivatives, including embedded derivatives, on the Company’s condensed consolidated statements of income for the three months ended March 31, 2025 and 2024 is as follows (dollars in millions):
  Gains (Losses) for the three months ended     
March 31,
Type of Non-qualifying DerivativeIncome Statement
Location of Gains (Losses)		20252024
Interest rate swapsInvestment related gains (losses), net$6 $(31)
Interest rate optionsInvestment related gains (losses), net— (3)
Total return swapsInvestment related gains (losses), net(6)4 
Interest rate futuresInvestment related gains (losses), net— 1 
Foreign currency swapsInvestment related gains (losses), net(3)14 
Foreign currency forwardsInvestment related gains (losses), net22 (64)
Foreign currency optionsInvestment related gains (losses), net(1)— 
Equity optionsInvestment related gains (losses), net(6)(4)
Equity futuresInvestment related gains (losses), net9 (17)
Credit default swapsInvestment related gains (losses), net(18)2 
CPI swapsInvestment related gains (losses), net(5)— 
Subtotal(2)(98)
Embedded derivatives in:
Modco or funds withheld arrangementsInvestment related gains (losses), net(11)77 
Indexed productsInterest credited24 (20)
Total non-qualifying derivatives$11 $(41)
Disclosure Of Credit Derivatives
The following table presents the estimated fair value, maximum amount of future payments and weighted average years to maturity of credit default swaps sold by the Company at March 31, 2025 and December 31, 2024 (dollars in millions):
 March 31, 2025December 31, 2024
Rating Agency Designation of Referenced Credit Obligations(1)
Estimated Fair
Value of Credit 
Default Swaps
Maximum
Amount of Future
Payments under
Credit Default
Swaps(2)
Weighted
Average
Years to
Maturity(3)
Estimated Fair
Value of Credit 
Default Swaps
Maximum
Amount of Future
Payments under
Credit Default
Swaps(2)
Weighted
Average
Years to
Maturity(3)  
AAA/AA/A
Single name credit default swaps$(21)$410 17.3$(5)$410 17.5
BBB
Single name credit default swaps3 155 2.23 150 2.3
Credit default swaps referencing indices(1)3,585 5.2— 2,086 5.1
Subtotal2 3,740 5.13 2,236 4.9
BB
Single name credit default swaps— 5 1.2— 5 1.5
B
Single name credit default swaps— 10 1.0— 10 1.2
Total$(19)$4,165 6.3$(2)$2,661 6.8
(1)The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).
(2)Assumes the value of the referenced credit obligations is zero.
(3)The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.
Offsetting Assets [Table Text Block]
The following table provides information relating to the netting of the Company’s derivative instruments as of March 31, 2025 and December 31, 2024 (dollars in millions):
Gross Amounts  
Recognized		Gross Amounts
Offset in the
Balance Sheet   		Net Amounts
Presented in the
Balance Sheet   
Financial
Instruments/Collateral (1)
Net Amount   
March 31, 2025:
Derivative assets$155 $(39)$116 $(116)$— 
Derivative liabilities527 (39)488 (488)— 
December 31, 2024:
Derivative assets$187 $(64)$123 $(123)$— 
Derivative liabilities550 (64)486 (486)— 
(1)Includes initial margin posted to a central clearing partner for financial instruments and excludes the excess of collateral received/pledged from/to the counterparty.
Offsetting Liabilities [Table Text Block]
The following table provides information relating to the netting of the Company’s derivative instruments as of March 31, 2025 and December 31, 2024 (dollars in millions):
Gross Amounts  
Recognized		Gross Amounts
Offset in the
Balance Sheet   		Net Amounts
Presented in the
Balance Sheet   
Financial
Instruments/Collateral (1)
Net Amount   
March 31, 2025:
Derivative assets$155 $(39)$116 $(116)$— 
Derivative liabilities527 (39)488 (488)— 
December 31, 2024:
Derivative assets$187 $(64)$123 $(123)$— 
Derivative liabilities550 (64)486 (486)— 
(1)Includes initial margin posted to a central clearing partner for financial instruments and excludes the excess of collateral received/pledged from/to the counterparty.