XML 103 R85.htm IDEA: XBRL DOCUMENT v3.24.2
Reserve for Future Policy Benefits and Contractholder Funds - Schedule of Rollforward of Reserve for Future Policy Benefits (Details) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 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     $ (1) $ (12)
Effect of actual variances from expected experience     (14) (7)
Adjusted beginning balance     2,052 1,776
Issuances 400 277    
Interest accrual 46 30    
Net premiums collected (228) (211)    
Ending balance at original discount rate 2,270 1,872    
Effect of changes in discount rate assumptions (87) (75)    
Ending balance 2,183 1,797    
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) (12)
Effect of actual variances from expected experience     (17) (10)
Adjusted beginning balance     3,128 2,828
Issuances 401 274    
Interest accrual 68 59    
Benefit payments (229) (225)    
Ending balance at original discount rate 3,368 2,936    
Effect of changes in discount rate assumptions (104) (71)    
Ending balance 3,264 2,865    
Net reserve for future policy benefits 1,081 1,068    
Less: reinsurance recoverables 81 86    
Net reserve for future policy benefits, after reinsurance recoverables 1,000 982    
Reserves related to short-duration contracts 263 271    
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     (1) 0
Effect of actual variances from expected experience     (27) (26)
Adjusted beginning balance     1,709 1,523
Issuances 344 259    
Interest accrual 39 25    
Net premiums collected (196) (186)    
Ending balance at original discount rate 1,896 1,621    
Effect of changes in discount rate assumptions (79) (68)    
Ending balance 1,817 1,553    
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     (25) (30)
Adjusted beginning balance     2,464 2,286
Issuances 344 256    
Interest accrual 53 47    
Benefit payments (210) (199)    
Ending balance at original discount rate 2,651 2,390    
Effect of changes in discount rate assumptions (84) (64)    
Ending balance 2,567 2,326    
Net reserve for future policy benefits 750 773    
Less: reinsurance recoverables 80 84    
Net reserve for future policy benefits, after reinsurance recoverables 670 689    
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 (12)
Effect of actual variances from expected experience     13 19
Adjusted beginning balance     343 253
Issuances 56 18    
Interest accrual 7 5    
Net premiums collected (32) (25)    
Ending balance at original discount rate 374 251    
Effect of changes in discount rate assumptions (8) (7)    
Ending balance 366 244    
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 (12)
Effect of actual variances from expected experience     8 20
Adjusted beginning balance     $ 664 $ 542
Issuances 57 18    
Interest accrual 15 12    
Benefit payments (19) (26)    
Ending balance at original discount rate 717 546    
Effect of changes in discount rate assumptions (20) (7)    
Ending balance 697 539    
Net reserve for future policy benefits 331 295    
Less: reinsurance recoverables 1 2    
Net reserve for future policy benefits, after reinsurance recoverables $ 330 $ 293