Liability For Future Policy Benefits (Benefit Reserves) (Details) - USD ($) $ in Millions |
3 Months Ended |
6 Months Ended |
|
|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
|
|
Total balance, EOP |
|
$ 146,595
|
$ 128,625
|
$ 146,595
|
$ 128,625
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Other adjustments |
[1] |
175
|
176
|
225
|
193
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change |
|
333,515
|
310,685
|
333,515
|
310,685
|
|
|
Total balance after reinsurance recoverable |
|
181,091
|
175,973
|
181,091
|
175,973
|
|
|
International Businesses |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
45,851
|
55,431
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
2,599
|
1,218
|
|
|
Balance at original discount rate |
|
|
|
48,450
|
56,649
|
|
|
Effect of assumption update |
|
|
|
|
|
$ (1,072)
|
$ (863)
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
(467)
|
(1,347)
|
Adjusted balance, BOP |
|
|
|
46,911
|
54,439
|
|
|
Issuances |
|
|
|
1,477
|
1,788
|
|
|
Net premiums / considerations collected |
|
|
|
(3,455)
|
(3,622)
|
|
|
Interest accrual |
|
|
|
730
|
782
|
|
|
Foreign currency adjustment |
|
|
|
2,193
|
(3,494)
|
|
|
Other adjustments |
|
|
|
73
|
82
|
|
|
Balance at original discount rate |
|
47,929
|
49,975
|
47,929
|
49,975
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(2,984)
|
(2,579)
|
(2,984)
|
(2,579)
|
|
|
Total balance, EOP |
|
44,945
|
47,396
|
44,945
|
47,396
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
135,485
|
158,858
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
17,834
|
7,918
|
|
|
Balance at original discount rate, BOP |
|
|
|
153,319
|
166,776
|
|
|
Effect of assumption update |
|
|
|
|
|
(1,013)
|
(513)
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
(563)
|
(1,362)
|
Adjusted balance, BOP |
|
|
|
|
|
151,743
|
164,901
|
Issuances |
|
|
|
1,477
|
1,789
|
|
|
Interest accrual |
|
|
|
2,365
|
2,371
|
|
|
Benefit payments |
|
|
|
(4,208)
|
(5,069)
|
|
|
Foreign currency adjustment |
|
|
|
7,245
|
(11,173)
|
|
|
Other adjustments |
|
|
|
171
|
162
|
|
|
Balance at original discount rate, EOP |
|
158,793
|
152,981
|
158,793
|
152,981
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(23,521)
|
(16,763)
|
(23,521)
|
(16,763)
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change |
|
135,272
|
136,218
|
135,272
|
136,218
|
|
|
Balance, EOP, pre-flooring |
|
90,326
|
88,821
|
90,326
|
88,821
|
|
|
Flooring impact, EOP |
|
80
|
44
|
80
|
44
|
|
|
Balance, EOP, post-flooring |
|
90,406
|
88,865
|
90,406
|
88,865
|
|
|
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance |
|
341
|
345
|
341
|
345
|
|
|
Total balance after reinsurance recoverable |
|
90,065
|
88,520
|
90,065
|
88,520
|
|
|
International Businesses | Gross Basis |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Undiscounted expected future gross premiums |
|
107,923
|
110,571
|
107,923
|
110,571
|
|
|
Discounted expected future gross premiums (at original discount rate) |
|
84,598
|
87,022
|
84,598
|
87,022
|
|
|
Discounted expected future gross premiums (at current discount rate) |
|
79,680
|
83,062
|
79,680
|
83,062
|
|
|
Undiscounted expected future benefits and expenses |
|
$ 260,920
|
$ 254,271
|
$ 260,920
|
$ 254,271
|
|
|
Weighted-average duration of the liability in years (at original discount rate) |
|
17 years
|
18 years
|
17 years
|
18 years
|
|
|
Weighted-average duration of the liability in years (at current discount rate) |
|
14 years
|
16 years
|
14 years
|
16 years
|
|
|
Weighted-average interest rate (at original discount rate) |
|
2.99%
|
3.02%
|
2.99%
|
3.02%
|
|
|
Weighted-average interest rate (at current discount rate) |
|
4.05%
|
3.61%
|
4.05%
|
3.61%
|
|
|
Other Segments |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
|
|
Total balance, EOP |
|
$ 109
|
$ 89
|
$ 109
|
$ 89
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change |
|
1,704
|
1,656
|
1,704
|
1,656
|
|
|
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance |
|
58
|
63
|
58
|
63
|
|
|
Total balance after reinsurance recoverable |
|
1,538
|
1,506
|
1,538
|
1,506
|
|
|
Total |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
131,955
|
141,398
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
17,854
|
13,331
|
|
|
Balance at original discount rate |
|
|
|
149,809
|
154,729
|
|
|
Effect of assumption update |
|
|
|
|
|
(1,136)
|
(1,077)
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
(605)
|
(954)
|
Adjusted balance, BOP |
|
|
|
148,068
|
152,698
|
|
|
Issuances |
|
|
|
10,874
|
13,398
|
|
|
Net premiums / considerations collected |
|
|
|
(7,747)
|
(17,379)
|
|
|
Interest accrual |
|
|
|
2,810
|
2,506
|
|
|
Foreign currency adjustment |
|
|
|
11,012
|
(4,392)
|
|
|
Other adjustments |
|
|
|
76
|
79
|
|
|
Balance at original discount rate |
|
165,093
|
146,910
|
165,093
|
146,910
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(18,607)
|
(18,374)
|
(18,607)
|
(18,374)
|
|
|
Total balance, EOP |
|
146,486
|
128,536
|
146,486
|
128,536
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
317,143
|
331,984
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
40,698
|
23,606
|
|
|
Balance at original discount rate, BOP |
|
|
|
357,841
|
355,590
|
|
|
Effect of assumption update |
|
|
|
|
|
(1,069)
|
(1,367)
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
(802)
|
(933)
|
Adjusted balance, BOP |
|
|
|
|
|
355,970
|
353,290
|
Issuances |
|
|
|
10,874
|
13,399
|
|
|
Interest accrual |
|
|
|
6,682
|
6,147
|
|
|
Benefit payments |
|
|
|
(12,594)
|
(12,336)
|
|
|
Foreign currency adjustment |
|
|
|
16,147
|
(12,081)
|
|
|
Other adjustments |
|
|
|
200
|
89
|
|
|
Balance at original discount rate, EOP |
|
377,279
|
348,508
|
377,279
|
348,508
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(45,468)
|
(39,479)
|
(45,468)
|
(39,479)
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change |
|
331,811
|
309,029
|
331,811
|
309,029
|
|
|
Balance, EOP, pre-flooring |
|
185,323
|
180,491
|
185,323
|
180,491
|
|
|
Flooring impact, EOP |
|
186
|
90
|
186
|
90
|
|
|
Balance, EOP, post-flooring |
|
185,509
|
180,581
|
185,509
|
180,581
|
|
|
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance |
|
5,956
|
6,114
|
5,956
|
6,114
|
|
|
Total balance after reinsurance recoverable |
|
179,553
|
174,467
|
179,553
|
174,467
|
|
|
Institutional | Retirement Strategies |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
72,526
|
71,407
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
14,545
|
11,869
|
|
|
Balance at original discount rate |
|
|
|
87,071
|
83,276
|
|
|
Effect of assumption update |
|
|
|
|
|
169
|
41
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
(79)
|
429
|
Adjusted balance, BOP |
|
|
|
87,161
|
83,746
|
|
|
Issuances |
|
|
|
8,991
|
11,192
|
|
|
Net premiums / considerations collected |
|
|
|
(3,445)
|
(12,908)
|
|
|
Interest accrual |
|
|
|
1,745
|
1,384
|
|
|
Foreign currency adjustment |
|
|
|
8,819
|
(898)
|
|
|
Other adjustments |
|
|
|
0
|
0
|
|
|
Balance at original discount rate |
|
103,271
|
82,516
|
103,271
|
82,516
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(15,153)
|
(15,077)
|
(15,153)
|
(15,077)
|
|
|
Total balance, EOP |
|
88,118
|
67,439
|
88,118
|
67,439
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
151,484
|
141,135
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
20,182
|
14,751
|
|
|
Balance at original discount rate, BOP |
|
|
|
171,666
|
155,886
|
|
|
Effect of assumption update |
|
|
|
|
|
322
|
(481)
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
(120)
|
483
|
Adjusted balance, BOP |
|
|
|
|
|
171,868
|
155,888
|
Issuances |
|
|
|
8,991
|
11,192
|
|
|
Interest accrual |
|
|
|
3,541
|
3,003
|
|
|
Benefit payments |
|
|
|
(7,426)
|
(6,317)
|
|
|
Foreign currency adjustment |
|
|
|
8,902
|
(908)
|
|
|
Other adjustments |
|
|
|
30
|
(63)
|
|
|
Balance at original discount rate, EOP |
|
185,906
|
162,795
|
185,906
|
162,795
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(19,578)
|
(20,163)
|
(19,578)
|
(20,163)
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change |
|
166,328
|
142,632
|
166,328
|
142,632
|
|
|
Balance, EOP, pre-flooring |
|
78,210
|
75,194
|
78,210
|
75,194
|
|
|
Flooring impact, EOP |
|
106
|
46
|
106
|
46
|
|
|
Balance, EOP, post-flooring |
|
78,316
|
75,240
|
78,316
|
75,240
|
|
|
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance |
|
5,039
|
5,098
|
5,039
|
5,098
|
|
|
Total balance after reinsurance recoverable |
|
73,277
|
70,142
|
73,277
|
70,142
|
|
|
Institutional | Retirement Strategies | Gross Basis |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Undiscounted expected future gross premiums |
|
178,217
|
133,585
|
178,217
|
133,585
|
|
|
Discounted expected future gross premiums (at original discount rate) |
|
111,292
|
89,770
|
111,292
|
89,770
|
|
|
Discounted expected future gross premiums (at current discount rate) |
|
94,675
|
71,759
|
94,675
|
71,759
|
|
|
Undiscounted expected future benefits and expenses |
|
$ 302,365
|
$ 255,559
|
$ 302,365
|
$ 255,559
|
|
|
Weighted-average duration of the liability in years (at original discount rate) |
|
8 years
|
9 years
|
8 years
|
9 years
|
|
|
Weighted-average duration of the liability in years (at current discount rate) |
|
8 years
|
8 years
|
8 years
|
8 years
|
|
|
Weighted-average interest rate (at original discount rate) |
|
4.76%
|
4.72%
|
4.76%
|
4.72%
|
|
|
Weighted-average interest rate (at current discount rate) |
|
5.45%
|
5.56%
|
5.45%
|
5.56%
|
|
|
Term Life | Individual Life |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
$ 10,724
|
$ 11,274
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
578
|
228
|
|
|
Balance at original discount rate |
|
|
|
11,302
|
11,502
|
|
|
Effect of assumption update |
|
|
|
|
|
(241)
|
21
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
(100)
|
(131)
|
Adjusted balance, BOP |
|
|
|
10,961
|
11,392
|
|
|
Issuances |
|
|
|
406
|
418
|
|
|
Net premiums / considerations collected |
|
|
|
(692)
|
(692)
|
|
|
Interest accrual |
|
|
|
264
|
264
|
|
|
Foreign currency adjustment |
|
|
|
0
|
0
|
|
|
Other adjustments |
|
|
|
3
|
(3)
|
|
|
Balance at original discount rate |
|
$ 10,942
|
$ 11,379
|
10,942
|
11,379
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(384)
|
(590)
|
(384)
|
(590)
|
|
|
Total balance, EOP |
|
10,558
|
10,789
|
10,558
|
10,789
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
18,996
|
19,852
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
1,134
|
334
|
|
|
Balance at original discount rate, BOP |
|
|
|
20,130
|
20,186
|
|
|
Effect of assumption update |
|
|
|
|
|
(392)
|
21
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
(137)
|
(149)
|
Adjusted balance, BOP |
|
|
|
|
|
19,601
|
20,058
|
Issuances |
|
|
|
406
|
418
|
|
|
Interest accrual |
|
|
|
470
|
470
|
|
|
Benefit payments |
|
|
|
(784)
|
(795)
|
|
|
Foreign currency adjustment |
|
|
|
0
|
0
|
|
|
Other adjustments |
|
|
|
(1)
|
(10)
|
|
|
Balance at original discount rate, EOP |
|
19,692
|
20,141
|
19,692
|
20,141
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(797)
|
(1,108)
|
(797)
|
(1,108)
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change |
|
18,895
|
19,033
|
18,895
|
19,033
|
|
|
Balance, EOP, pre-flooring |
|
8,337
|
8,243
|
8,337
|
8,243
|
|
|
Flooring impact, EOP |
|
0
|
0
|
0
|
0
|
|
|
Balance, EOP, post-flooring |
|
8,337
|
8,243
|
8,337
|
8,243
|
|
|
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance |
|
576
|
671
|
576
|
671
|
|
|
Total balance after reinsurance recoverable |
|
7,761
|
7,572
|
7,761
|
7,572
|
|
|
Term Life | Individual Life | Gross Basis |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Undiscounted expected future gross premiums |
|
22,958
|
22,965
|
22,958
|
22,965
|
|
|
Discounted expected future gross premiums (at original discount rate) |
|
15,586
|
15,208
|
15,586
|
15,208
|
|
|
Discounted expected future gross premiums (at current discount rate) |
|
15,086
|
14,451
|
15,086
|
14,451
|
|
|
Undiscounted expected future benefits and expenses |
|
$ 30,430
|
$ 31,103
|
$ 30,430
|
$ 31,103
|
|
|
Weighted-average duration of the liability in years (at original discount rate) |
|
10 years
|
10 years
|
10 years
|
10 years
|
|
|
Weighted-average duration of the liability in years (at current discount rate) |
|
9 years
|
9 years
|
9 years
|
9 years
|
|
|
Weighted-average interest rate (at original discount rate) |
|
5.12%
|
5.15%
|
5.12%
|
5.15%
|
|
|
Weighted-average interest rate (at current discount rate) |
|
5.37%
|
5.53%
|
5.37%
|
5.53%
|
|
|
Long- Term Care | Corporate and Other |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
$ 2,854
|
$ 3,286
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
132
|
16
|
|
|
Balance at original discount rate |
|
|
|
2,986
|
3,302
|
|
|
Effect of assumption update |
|
|
|
|
|
8
|
(276)
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
41
|
95
|
Adjusted balance, BOP |
|
|
|
3,035
|
3,121
|
|
|
Issuances |
|
|
|
0
|
0
|
|
|
Net premiums / considerations collected |
|
|
|
(155)
|
(157)
|
|
|
Interest accrual |
|
|
|
71
|
76
|
|
|
Foreign currency adjustment |
|
|
|
0
|
0
|
|
|
Other adjustments |
|
|
|
0
|
0
|
|
|
Balance at original discount rate |
|
$ 2,951
|
$ 3,040
|
2,951
|
3,040
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(86)
|
(128)
|
(86)
|
(128)
|
|
|
Total balance, EOP |
|
2,865
|
2,912
|
2,865
|
2,912
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Balance, BOP |
|
|
|
11,178
|
12,139
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
|
|
1,548
|
603
|
|
|
Balance at original discount rate, BOP |
|
|
|
12,726
|
12,742
|
|
|
Effect of assumption update |
|
|
|
|
|
14
|
(394)
|
Effect of actual variances from expected experience and other activity |
|
|
|
|
|
18
|
95
|
Adjusted balance, BOP |
|
|
|
|
|
$ 12,758
|
$ 12,443
|
Issuances |
|
|
|
0
|
0
|
|
|
Interest accrual |
|
|
|
306
|
303
|
|
|
Benefit payments |
|
|
|
(176)
|
(155)
|
|
|
Foreign currency adjustment |
|
|
|
0
|
0
|
|
|
Other adjustments |
|
|
|
0
|
0
|
|
|
Balance at original discount rate, EOP |
|
12,888
|
12,591
|
12,888
|
12,591
|
|
|
Effect of cumulative changes in discount rate assumptions |
|
(1,572)
|
(1,445)
|
(1,572)
|
(1,445)
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change |
|
11,316
|
11,146
|
11,316
|
11,146
|
|
|
Balance, EOP, pre-flooring |
|
8,450
|
8,233
|
8,450
|
8,233
|
|
|
Flooring impact, EOP |
|
0
|
0
|
0
|
0
|
|
|
Balance, EOP, post-flooring |
|
8,450
|
8,233
|
8,450
|
8,233
|
|
|
Liability for Future Policy Benefit, Reinsurance Recoverable, after Allowance |
|
0
|
0
|
0
|
0
|
|
|
Total balance after reinsurance recoverable |
|
8,450
|
8,233
|
8,450
|
8,233
|
|
|
Long- Term Care | Corporate and Other | Gross Basis |
|
|
|
|
|
|
|
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
|
|
Undiscounted expected future gross premiums |
|
6,588
|
6,823
|
6,588
|
6,823
|
|
|
Discounted expected future gross premiums (at original discount rate) |
|
4,427
|
4,521
|
4,427
|
4,521
|
|
|
Discounted expected future gross premiums (at current discount rate) |
|
4,308
|
4,339
|
4,308
|
4,339
|
|
|
Undiscounted expected future benefits and expenses |
|
$ 29,531
|
$ 29,860
|
$ 29,531
|
$ 29,860
|
|
|
Weighted-average duration of the liability in years (at original discount rate) |
|
16 years
|
17 years
|
16 years
|
17 years
|
|
|
Weighted-average duration of the liability in years (at current discount rate) |
|
15 years
|
16 years
|
15 years
|
16 years
|
|
|
Weighted-average interest rate (at original discount rate) |
|
4.91%
|
4.91%
|
4.91%
|
4.91%
|
|
|
Weighted-average interest rate (at current discount rate) |
|
5.87%
|
5.77%
|
5.87%
|
5.77%
|
|
|
|
|