Market Risk Benefits (Tables)

6 Months Ended

Jun. 30, 2025

Insurance [Abstract]

Market Risk Benefit, Activity

The following table provides the balances of and changes in the Company’s market risk benefits for the six months ended June 30, 2025 and 2024 (dollars in millions):

	U.S. and Latin America – Financial Solutions
	Six months ended June 30,
	2025		2024
Balance, beginning of year	$	206	$	249
Balance, beginning of year, before effect of changes in the instrument-specific credit risk	209		253
Interest accrual	4		6
Attributed fees collected	12		13
Benefit payments	—		—
Effect of changes in interest rates	10		(34)
Effect of changes in equity markets	(16)		(26)
Effect of changes in volatility	1		—
Other market impacts	(8)		(9)
Actual policyholder behavior different from expected behavior	9		7
Balance, end of period, before effect of changes in the instrument-specific credit risk	221		210
Effect of changes in the instrument-specific credit risk	(5)		(8)
Balance, end of period	216		202
Less: reinsurance recoverable	—		—
Balance, end of period, after reinsurance	$	216	$	202
Net amount at risk	$	1,278	$	1,302
Weighted average attained age of contract holders (in years)	72		71

The reconciliation of the rollforward for market risk benefits to the condensed consolidated balance sheets as of June 30, 2025 and 2024 is as follows (dollars in millions):

	June 30,						June 30,
	2025						2024
	Asset (1)		Liability		Net		Asset (1)		Liability		Net
U.S. and Latin America – Financial Solutions	$	17	$	233	$	(216)	$	15	$	217	$	(202)
Total market risk benefits	$	17	$	233	$	(216)	$	15	$	217	$	(202)

(1)Included in Other assets.