v3.25.1
INSURANCE LIABILITIES AND ANNUITY BENEFITS (Tables)
 3 Months Ended
Mar. 31, 2025
Insurance [Abstract]  
Schedule of Insurance and Investment Contract Liabilities A summary of our insurance liabilities and annuity benefits is presented below.
March 31, 2025
Long-term careStructured settlement annuitiesLifeOther contractsTotal
Future policy benefit reserves
$24,721 $8,394 $1,004 $347 $34,467 
Investment contracts
— 702 — 603 1,304 
Other
— — 114 539 654 
Total
$24,721 $9,096 $1,118 $1,489 $36,424 
December 31, 2024
Future policy benefit reserves
$24,675 $8,426 $1,018 $357 $34,476 
Investment contracts
— 719 — 621 1,340 
Other
— — 116 277 394 
Total
$24,675 $9,145 $1,134 $1,254 $36,209 
Summary of Future Policy Benefits
The following tables summarize balances of and changes in future policy benefit reserves.

March 31, 2025March 31, 2024
Present value of expected net premiumsLong-term careStructured settlement annuitiesLifeLong-term careStructured settlement annuitiesLife
Balance, beginning of year$4,144 $— $4,318 $4,063 $— $4,803 
Beginning balance at locked-in discount rate3,991 — 4,415 3,745 — 4,773 
Effect of changes in cash flow assumptions14 — — 17 — — 
Effect of actual variances from expected experience2 — 12 6 — (2)
Adjusted beginning of year balance4,007 — 4,427 3,769 — 4,771 
Interest accrual 54 — 46 51 — 45 
Net premiums collected(97)— (74)(98)— (70)
Effect of foreign currency— — 26 — — (69)
Ending balance at locked-in discount rate3,963 — 4,425 3,721 — 4,678 
Effect of changes in discount rate assumptions176 — (73)211 — (151)
Balance, end of period$4,140 $— $4,352 $3,932 $— $4,527 
Present value of expected future policy benefits
Balance, beginning of year$28,820 $8,426 $5,336 $30,895 $9,357 $5,921 
Beginning balance at locked-in discount rate27,448 8,301 5,411 27,144 8,561 5,847 
Effect of changes in cash flow assumptions(69)— — (7)— — 
Effect of actual variances from expected experience9 3 6 43 (29)(13)
Adjusted beginning of year balance27,388 8,304 5,418 27,180 8,532 5,833 
Interest accrual374 109 56 368 111 55 
Benefit payments(351)(159)(98)(359)(159)(109)
Effect of foreign currency— — 28 — — (73)
Ending balance at locked-in discount rate27,411 8,254 5,404 27,190 8,484 5,707 
  Effect of changes in discount rate assumptions1,450 140 (47)2,465 425 (126)
Balance, end of period$28,861 $8,394 $5,357 $29,654 $8,909 $5,581 
Net future policy benefit reserves$24,721 $8,394 $1,004 $25,722 $8,909 $1,054 
Less: Reinsurance recoverables, net of allowance for credit losses(170)— (197)(165)— (29)
Net future policy benefit reserves, after reinsurance recoverables$24,551 $8,394 $807 $25,557 $8,909 $1,025 
Weighted-average duration of liability (years)(a)11.510.25.212.410.85.3
Weighted-average interest accretion rate5.6%5.4%5.3%5.6%5.4%5.2%
Current discount rate5.6%5.5%5.0%5.2%5.2%5.0%
Gross premiums or assessments recognized during period$117 $— $79 $123 $— $79 
Expected future gross premiums, undiscounted7,448 — 11,350 7,376 — 12,082 
Expected future gross premiums, discounted(a)4,722 — 5,249 4,794 — 5,446 
Expected future benefit payments, undiscounted61,449 18,432 10,314 62,774 19,092 10,935 
Expected future benefit payments, discounted(a)28,861 8,394 5,357 29,654 8,909 5,581 
(a) Determined using the current discount rate as of March 31, 2025 and 2024.