v3.25.2
Future Policy Benefits - Schedule of Balances and Changes in Present Value of Expected Net Premiums and Present Value of Expected Future Policy Benefits Underlying LFPB (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Present Value of Expected Net Premiums    
Balance at then current discount rate, beginning of period, Present value of expected net premiums $ 13,854,794 $ 13,977,353
Balance at original discount rate, beginning of period, Present value of expected net premium 14,233,996 14,012,553
Effect of changes in cash flow assumptions, Present value of expected net premiums   (74,233)
Effect of actual variances from expected experience, Present value of expected net premiums (221,771) (373,646)
Adjusted balance, beginning of period 14,012,225 13,564,674
Issuances, Present value of expected net premiums 931,555 1,884,054
Interest accrual at Original discount rate, Present value of expected net premiums 314,588 608,588
Net premiums collected, Present value of expected net premiums (882,397) (1,733,262)
Foreign currency translation, Present value of expected net premiums 56,193 (90,058)
Expected net premiums at original discount rate, end of period 14,432,164 14,233,996
Effect of changes in discount rate assumptions, Present value of expected net premiums (129,596) (379,202)
Balance at then current discount rate, end of period, Present value of expected net premiums 14,302,568 13,854,794
Present Value of Expected Future Policy Benefits    
Balance at then current discount rate, beginning of period, Present value of expected future policy benefits 20,155,487 20,508,435
Balance at original discount rate, beginning of period, Present value of expected future policy benefits 20,763,900 20,391,694
Effect of changes in cash flow assumptions, Present value of expected future policy benefits   (83,975)
Effect of actual variances from expected experience, Present value of expected future policy benefits (231,573) (386,512)
Adjusted balance, beginning of period, Present value of expected future policy benefits 20,532,327 19,921,207
Issuances, Present value of expected future policy benefits 937,242 1,892,529
Interest accrual at Original discount rate, Present value of expected future policy benefits 479,202 929,078
Benefit payments, Present value of expected future policy benefits (948,856) (1,841,162)
Foreign currency translation, Present value of expected future policy benefits 85,479 (137,752)
Expected future policy benefits at original discount rate, end of period, Present value of expected future policy benefits 21,085,394 20,763,900
Effect of changes in discount rate assumptions, Present value of expected future policy benefits (266,692) (608,413)
Expected future policy benefits at then current discount rate, end of period, Present value of expected future policy benefits 20,818,702 20,155,487
LFPB 6,719,044 6,503,064
Less: reinsurance recoverables 2,683,481 2,729,022
Net LFPB, after reinsurance recoverables $ 3,832,653 $ 3,571,671
Weighted-average duration of net LFPB 8 years 1 month 6 days 8 years
Term Life    
Present Value of Expected Future Policy Benefits    
LFPB $ 6,516,134 $ 6,300,693