v3.25.2
Future Policy Benefits Reserves - Balances and Changes (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
Present value of future net premiums            
Balance, January 1     $ 3,425 $ 3,710    
Effect of changes in discount rate     (7) (125)    
Balance, January 1, at original locked in discount rate         $ 3,418 $ 3,585
Effect of changes in cash flow assumptions        
Expect of actual variances from expected experience         (1) (29)
Adjusted balance, January 1 $ 3,302 $ 3,436 3,302 3,436 3,417 3,556
Interest accrual     88 92    
Net premiums: earned during period     (203) (212)    
Balance, end of period at original locked in discount rate 3,302 3,436 3,302 3,436    
Effect of changes in discount rate 50 11 50 11    
Balance, June 30 3,352 3,447 3,352 3,447    
Present value of future benefits & expenses            
Balance, January 1     16,583 17,669    
Effect of changes in discount rate (248) (313) (248) (313) 440 (578)
Balance, January 1, at original locked in discount rate     17,023 17,091    
Effect of changes in cash flow assumptions        
Effect of actual variances from expected experience         22 11
Adjusted balance, January 1         17,045 $ 17,102
Interest accrual     458 461    
Benefit & expense payments     (574) (592)    
Balance, end of period at original locked in discount rate 16,929 16,971 16,929 16,971    
Balance, June 30 16,681 16,658 16,681 16,658    
Net LFPB 13,329 13,211 13,329 13,211 $ 13,158  
Re-measurement loss of insurance claims and policyholders’ benefits $ 15 $ 25 $ 23 $ 40