v3.25.2
Reinsurance Reinsurance (Amounts Included in Statement of Operations) (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Insurance [Abstract]        
Direct premiums $ 5,824 $ 6,851 $ 11,846 $ 21,673
Reinsurance assumed 1,757 1,545 3,351 2,996
Reinsurance ceded (599) (576) (1,215) (1,312)
Premiums [1] 6,982 7,820 13,982 23,357
Direct policy charges and fee income 1,146 949 2,329 1,813
Reinsurance assumed 290 299 579 599
Reinsurance ceded (187) (163) (502) (271)
Policy charges and fee income 1,249 1,085 2,406 2,141
Direct change in value of market risk benefits, net of related hedging gains (losses) (471) (339) (838) (189)
Reinsurance assumed 39 8 11 79
Reinsurance ceded 6 34 50 (64)
Change in value of market risk benefits, net of related hedging gains (losses) (426) (297) (777) (174)
Direct policyholders’ benefits 7,034 7,961 14,294 23,826
Reinsurance assumed 2,074 1,938 4,044 3,781
Reinsurance ceded (927) (1,035) (2,017) (2,149)
Policyholders’ benefits [1] 8,181 8,864 16,321 25,458
Direct change in estimates of liability for future policy benefits (17) (213) (64) (67)
Reinsurance assumed (10) 63 (10) 58
Reinsurance ceded (148) (26) (151) (184)
Change in estimates of liability for future policy benefits [1] $ (175) $ (176) $ (225) $ (193)
[1] See Note 20 for additional information regarding related party transactions.