v3.25.2
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%    
[1] See Note 20 for additional information regarding related party transactions.