v3.23.1
Separate Account Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2022
Insurance [Abstract]  
Fair Value, Separate Account Investment
The following table presents fair value of separate account investment options:
December 31, 2022Individual RetirementGroup RetirementLife
Insurance		Institutional
Markets		Total
(in millions)
Equity Funds$22,990 $24,608 $687 $581 $48,866 
Bond Funds3,802 4,081 46 1,321 9,250 
Balanced Funds17,663 5,113 49 1,939 24,764 
Money Market Funds723 559 17 674 1,973 
Total$45,178 $34,361 $799 $4,515 $84,853 
December 31, 2021Individual RetirementGroup RetirementLife
Insurance		Institutional
Markets		Total
(in millions)
Equity Funds$29,158 $33,849 $917 $748 $64,672 
Bond Funds4,745 4,496 50 1,468 10,759 
Balanced Funds23,460 6,326 60 2,515 32,361 
Money Market Funds564 467 17 271 1,319 
Total$57,927 $45,138 $1,044 $5,002 $109,111 
Separate Account, Liability
The following table presents the balances and changes in separate account liabilities:
Year Ended December 31, 2022Individual RetirementGroup
 Retirement		Life
Insurance		Institutional
Markets		Total
(in millions)
Separate accounts balance, beginning of year$57,927 $45,138 $1,044 $5,002 $109,111 
Premiums and deposits2,420 1,611 37 69 4,137 
Policy charges(1,325)(461)(51)(100)(1,937)
Surrenders and withdrawals(3,320)(2,452)(22)(131)(5,925)
Benefit payments(898)(613)(6)(59)(1,576)
Investment performance(9,861)(8,479)(201)(319)(18,860)
Net transfers from (to) general account235 (383)(2)44 (106)
Other charges— — — 9 9 
Separate accounts balance, end of year$45,178 $34,361 $799 $4,515 $84,853 
Cash surrender value*$44,124 $34,169 $777 $4,518 $83,588 
Year Ended December 31, 2021Individual
Retirement		Group
Retirement		Life
Insurance		Institutional
Markets		Total
(in millions)
Separate accounts balance, beginning of year$53,456 $41,310 $912 $4,612 $100,290 
Premiums and deposits4,081 1,979 49 76 6,185 
Policy charges(1,368)(523)(52)(98)(2,041)
Surrenders and withdrawals(4,261)(3,013)(32)(82)(7,388)
Benefit payments(1,039)(615)(10)(23)(1,687)
Investment performance6,743 6,711 180 486 14,120 
Net transfers from (to) general account315 (711)(3)26 (373)
Other charges— — — 5 5 
Separate accounts balance, end of year$57,927 $45,138 $1,044 $5,002 $109,111 
Cash surrender value*$56,727 $44,909 $1,026 $4,993 $107,655 
* The cash surrender value represents the amount of the contract holder’s account balance distributable at the balance sheet date less applicable surrender charges.