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Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2025 and December 31, 2024 (dollars in millions):
 September 30, 2025December 31, 2024
 Primary Underlying RiskNotionalCarrying Value / Fair ValueNotionalCarrying Value / Fair Value
 AmountAssetsLiabilitiesAmountAssetsLiabilities
Derivatives not designated as hedging instruments:
Interest rate swaps Interest rate$1,940 $5 $12 $1,848 $6 $20 
Interest rate optionsInterest rate750 1 — 1,773 1 — 
Total return swapsInterest rate606 5 5 956 — 14 
Foreign currency swapsForeign currency150 43 — 150 47 — 
Foreign currency forwardsForeign currency1,325 1 24 1,148 9 37 
Foreign currency optionsForeign currency430 — — 430 1 — 
Equity optionsEquity5,576 465 258 255 5 1 
Equity futuresEquity208 — — 209 — — 
Credit default swapsCredit6,238 7 15 2,661 4 6 
Credit default index swaps optionsCredit2,200 — — — — — 
Other swapsCredit1,275 4 3 1,300 2 2 
CPI swapsCPI408 2 5 408 6 2 
Synthetic GICsInterest rate17,117 — — 15,362 — — 
Embedded derivatives in:
Modified coinsurance or funds withheld arrangements— 303 399 — 283 338 
Indexed products— — 438 — — 435 
Total non-designated derivatives38,223 836 1,159 26,500 364 855 
Derivatives designated as hedging instruments:
Interest rate swaps Interest rate3,374 39 55 3,336 5 103 
Forward bond purchase commitmentsInterest rate3,188 13 203 2,020 — 206 
Foreign currency swapsForeign currency2,008 6 194 2,008 7 159 
Foreign currency forwardsForeign currency2,266 20 32 1,966 94 — 
Total hedging derivatives10,836 78 484 9,330 106 468 
Total derivatives$49,059 $914 $1,643 $35,830 $470 $1,323 
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] The gain or loss on the hedged item attributable to a change in interest rates or foreign currency and the offsetting gain or loss on the related interest rate or foreign currency swaps for the three and nine months ended September 30, 2025 and 2024 are as follows (dollars in millions):
Derivative TypeHedged ItemInvestment Related
Gains (Losses), Net		Claims and Other Policy BenefitsInterest Credited
DerivativesHedged ItemsDerivativesHedged ItemsDerivativesHedged Items
For the three months ended September 30, 2025:
Foreign currency swapsForeign-denominated fixed maturity securities$— $— $— $— $— $— 
Interest rate swapsFuture policy benefits— — — (1)— — 
Interest rate swapsInterest-sensitive contract liabilities— — — — 1 (1)
For the three months ended September 30, 2024:
Foreign currency swapsForeign-denominated fixed maturity securities— — — — — — 
Interest rate swapsFuture policy benefits— — 31 (34)— — 
Interest rate swapsInterest-sensitive contract liabilities— — — — 42 (45)
For the nine months ended September 30, 2025:
Foreign currency swapsForeign-denominated fixed maturity securities— — — — — — 
Interest rate swapsFuture policy benefits— — 14 (15)— — 
Interest rate swapsInterest-sensitive contract liabilities— — — — 23 (27)
For the nine months ended September 30, 2024:
Foreign currency swapsForeign-denominated fixed maturity securities2 (4)— — — — 
Interest rate swapsFuture policy benefits— — 27 (32)— — 
Interest rate swapsInterest-sensitive contract liabilities— — — — 37 (43)
The following table presents the balance sheet classification, carrying amount and cumulative fair value hedging adjustments for items designated and qualifying as hedged items in fair value hedges (dollars in millions):
Hedged ItemCarrying Amount of
the Hedged Assets / (Liabilities)		Cumulative Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets / (Liabilities) Discontinued Fair Value Hedge Adjustments Included in the Cumulative Adjustments
September 30, 2025December 31, 2024September 30, 2025December 31, 2024September 30, 2025December 31, 2024
Future policy benefits$(564)$(508)$(8)$7 $(3)$— 
Interest-sensitive contract liabilities(510)(1,111)(16)11 1 — 
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 statements of income for the three and nine months ended September 30, 2025 and 2024 (dollars in millions):
 Three months ended September 30,
 20252024
Balance, beginning of period$(473)$(413)
Gains (losses), net deferred in other comprehensive income (loss)(115)167 
Amounts reclassified to net investment income18 20 
Amounts reclassified to interest expense(2)(3)
Balance, end of period$(572)$(229)
 Nine months ended September 30,
 20252024
Balance, beginning of period$(495)$(218)
Gains (losses), net deferred in other comprehensive income (loss)(125)(44)
Amounts reclassified to net investment income54 42 
Amounts reclassified to interest expense(6)(9)
Balance, end of period$(572)$(229)
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 and nine months ended September 30, 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 September 30, 2025:
Interest rate$12 $(1)$2 
Foreign currency(127)(17)— 
Total$(115)$(18)$2 
For the three months ended September 30, 2024:
Interest rate$57 $(3)$3 
Foreign currency110 (17)— 
Total$167 $(20)$3 
For the nine months ended September 30, 2025:
Interest rate$(40)$(3)$6 
Foreign currency(85)(51)— 
Total$(125)$(54)$6 
For the nine months ended September 30, 2024:
Interest rate$(33)$(9)$9 
Foreign currency(11)(33)— 
Total$(44)$(42)$9 
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 and nine months ended September 30, 2025 and 2024 (dollars in millions):
 Derivative Gains (Losses) Deferred in OCI   
 Three months ended September 30,Nine months ended September 30,
Derivative Type2025202420252024
Foreign currency forwards$56 $(12)$(65)$24 
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 and nine months ended September 30, 2025 and 2024 is as follows (dollars in millions):
  Gains (Losses) for the three months ended     
September 30,
Type of Non-qualifying DerivativeIncome Statement Location of Gains (Losses)20252024
Interest rate swapsInvestment related gains (losses), net$1 $13 
Interest rate optionsInvestment related gains (losses), net(2)(3)
Total return swapsInvestment related gains (losses), net16 7 
Interest rate futuresInvestment related gains (losses), net— — 
Foreign currency swapsInvestment related gains (losses), net6 (7)
Foreign currency forwardsInvestment related gains (losses), net(40)77 
Foreign currency optionsInvestment related gains (losses), net(2)2 
Equity optionsInvestment related gains (losses), net30 1 
Equity futuresInvestment related gains (losses), net(13)(12)
Credit default swapsInvestment related gains (losses), net33 10 
CPI swapsInvestment related gains (losses), net3 (1)
Subtotal32 87 
Embedded derivatives in:
Modified coinsurance or funds withheld arrangementsInvestment related gains (losses), net(33)(112)
Indexed productsInterest credited(99)(15)
Total non-qualifying derivatives$(100)$(40)
Gains (Losses) for the nine months ended     
September 30,
Type of Non-qualifying DerivativeIncome Statement Location of Gains (Losses)20252024
Interest rate swapsInvestment related gains (losses), net$6 $(31)
Interest rate optionsInvestment related gains (losses), net(3)(6)
Total return swapsInvestment related gains (losses), net16 — 
Interest rate futuresInvestment related gains (losses), net— 2 
Foreign currency swapsInvestment related gains (losses), net1 15 
Foreign currency forwardsInvestment related gains (losses), net22 (85)
Foreign currency optionsInvestment related gains (losses), net(5)(1)
Equity optionsInvestment related gains (losses), net35 (4)
Equity futuresInvestment related gains (losses), net(25)(31)
Credit default swapsInvestment related gains (losses), net36 14 
CPI swapsInvestment related gains (losses), net(3)(2)
Subtotal80 (129)
Embedded derivatives in:
Modified coinsurance or funds withheld arrangementsInvestment related gains (losses), net(41)(9)
Indexed productsInterest credited(67)(27)
Total non-qualifying derivatives$(28)$(165)
Disclosure Of Credit Derivatives
The following table presents the estimated fair value, maximum amount of future payments and weighted average years to maturity of credit default swaps sold by the Company at September 30, 2025 and December 31, 2024 (dollars in millions):
 September 30, 2025December 31, 2024
Rating Agency Designation of Referenced Credit Obligations(1)
Estimated Fair
Value of Credit 
Default Swaps
Maximum
Amount of Future
Payments under
Credit Default
Swaps (2)
Weighted
Average
Years to
Maturity (3)
Estimated Fair
Value of Credit 
Default Swaps
Maximum
Amount of Future
Payments under
Credit Default
Swaps (2)
Weighted
Average
Years to
Maturity (3)  
AAA/AA/A
Single name credit default swaps$(12)$490 14.4$(5)$410 17.5
BBB
Single name credit default swaps2 180 2.23 150 2.3
Credit default swaps referencing indices2 5,553 5.7— 2,086 5.1
Subtotal4 5,733 5.53 2,236 4.9
BB
Single name credit default swaps— 5 0.7— 5 1.5
B
Single name credit default swaps— 10 0.5— 10 1.2
Total$(8)$6,238 6.2$(2)$2,661 6.8
(1)Rating agency designations are based on ratings from Standard and Poor’s (“S&P”) when available. Other credited rating agencies or internal ratings may be used when S&P ratings are not available.
(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 September 30, 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   
September 30, 2025:
Derivative assets$611 $(384)$227 $(227)$— 
Derivative liabilities806 (384)422 (422)— 
December 31, 2024:
Derivative assets187 (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 September 30, 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   
September 30, 2025:
Derivative assets$611 $(384)$227 $(227)$— 
Derivative liabilities806 (384)422 (422)— 
December 31, 2024:
Derivative assets187 (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.