XML 102 R85.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Reserve for Future Policy Benefits and Contractholder Funds - Schedule of Rollforward of Reserve for Future Policy Benefits (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Present value of expected net premiums        
Beginning balance $ 2,013 $ 1,702    
Beginning balance at original discount rate 2,067 1,795    
Effect of changes in cash flow assumptions     $ 0 $ 0
Effect of actual variances from expected experience     (33) (37)
Adjusted beginning balance     2,034 1,758
Issuances 262 216    
Interest accrual 23 15    
Net premiums collected (114) (107)    
Ending balance at original discount rate 2,205 1,882    
Effect of changes in discount rate assumptions (90) (67)    
Ending balance 2,115 1,815    
Present value of expected future policy benefits        
Beginning balance 3,110 2,753    
Beginning balance at original discount rate 3,151 2,850    
Effect of changes in cash flow assumptions     (6) 0
Effect of actual variances from expected experience     (39) (43)
Adjusted beginning balance     3,106 2,807
Issuances 263 215    
Interest accrual 34 25    
Benefit payments (114) (111)    
Ending balance at original discount rate 3,289 2,936    
Effect of changes in discount rate assumptions (108) (54)    
Ending balance 3,181 2,882    
Net reserve for future policy benefits 1,066 1,067    
Less: reinsurance recoverables 81 78    
Net reserve for future policy benefits, after reinsurance recoverables 985 989    
Reserves related to short-duration contracts 259 271    
Accident and health insurance        
Present value of expected net premiums        
Beginning balance 1,688 1,464    
Beginning balance at original discount rate 1,737 1,549    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     (44) (42)
Adjusted beginning balance     1,693 1,507
Issuances 230 199    
Interest accrual 18 12    
Net premiums collected (98) (95)    
Ending balance at original discount rate 1,843 1,623    
Effect of changes in discount rate assumptions (81) (62)    
Ending balance 1,762 1,561    
Present value of expected future policy benefits        
Beginning balance 2,453 2,229    
Beginning balance at original discount rate 2,495 2,316    
Effect of changes in cash flow assumptions     (6) 0
Effect of actual variances from expected experience     (47) (47)
Adjusted beginning balance     2,442 2,269
Issuances 230 199    
Interest accrual 25 19    
Benefit payments (102) (99)    
Ending balance at original discount rate 2,595 2,388    
Effect of changes in discount rate assumptions (86) (53)    
Ending balance 2,509 2,335    
Net reserve for future policy benefits 747 774    
Less: reinsurance recoverables 80 76    
Net reserve for future policy benefits, after reinsurance recoverables 667 698    
Traditional life        
Present value of expected net premiums        
Beginning balance 325 238    
Beginning balance at original discount rate 330 246    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     11 5
Adjusted beginning balance     341 251
Issuances 32 17    
Interest accrual 5 3    
Net premiums collected (16) (12)    
Ending balance at original discount rate 362 259    
Effect of changes in discount rate assumptions (9) (5)    
Ending balance 353 254    
Present value of expected future policy benefits        
Beginning balance 657 524    
Beginning balance at original discount rate 656 534    
Effect of changes in cash flow assumptions     0 0
Effect of actual variances from expected experience     8 4
Adjusted beginning balance     $ 664 $ 538
Issuances 33 16    
Interest accrual 9 6    
Benefit payments (12) (12)    
Ending balance at original discount rate 694 548    
Effect of changes in discount rate assumptions (22) (1)    
Ending balance 672 547    
Net reserve for future policy benefits 319 293    
Less: reinsurance recoverables 1 2    
Net reserve for future policy benefits, after reinsurance recoverables $ 318 $ 291