v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100
Investment Based on: 4
Year
Summary
Compensation
Table Total for
CEO1
($)
Compensation
Actually Paid
to
CEO1,2,3
($)
Average
Summary
Compensation
Table Total for
Non-CEO
NEOs1
($)
Average
Compensation
Actually Paid
to Non-CEO
NEOs1,2,3
($)
Company
Total
Shareholder
Return
($)
Peer Group
Total
Shareholder
Return5
($)
Net
Income6
(US GAAP)
($ in
millions)
Company
Selected
Performance
Measure:
Adjusted
Earnings6,7
($ in millions)
2025
22,364,273
13,805,007
7,963,224
5,502,021
195.93
201.00
3,173
5,943
2024
20,321,179
30,357,980
7,140,525
9,996,625
197.52
189.86
4,226
5,796
2023
20,526,009
15,388,590
7,576,385
6,186,830
154.76
157.83
1,380
5,525
2022
18,107,426
32,983,046
7,470,032
11,806,990
163.78
150.82
2,354
5,545
2021
16,621,373
32,506,964
6,877,477
11,374,318
137.35
136.68
6,353
7,954
        
Company Selected Measure Name Adjusted Earnings        
Named Executive Officers, Footnote Mr. Khalaf served as CEO for the full year of each year shown. The non-CEO NEO’s (Non-CEO NEOs) included in 2021 and 2022 average compensation are
Messrs. McCallion, Goulart, Pappas, and Tadros. The Non-CEO NEOs included in 2023, 2024 and 2025 average compensation are Messrs. McCallion,
Pappas, and Tadros, and Ms. Debel.
        
Peer Group Issuers, Footnote The peer group is the S&P 500 Life & Health Insurance Index, which is shown in the performance graph in Part II, Item 5 of the Company’s 2025 Form 10-K.        
PEO Total Compensation Amount $ 22,364,273 $ 20,321,179 $ 20,526,009 $ 18,107,426 $ 16,621,373
PEO Actually Paid Compensation Amount $ 13,805,007 30,357,980 15,388,590 32,983,046 32,506,964
Adjustment To PEO Compensation, Footnote Compensation Actually Paid (CAP) is calculated as required by the SEC rules based on the compensation disclosed in the “Total” column of the Summary
Compensation Table (SCT Total), with specified adjustments for equity-based compensation and pensions. To calculate CAP, the required amounts were
deducted from and added to the SCT Total as shown in the table below.
Deductions from SCT Total
Additions to SCT Total
Equity
Component
Pension
Component
Equity Componenta
Pension
Componentb
Year
SCT
Total
($)
Grant Date
Fair
Value of
Equity
Awards
Granted
in the
Applicable
Year
($)
Change in the
Actuarial
Present
Value of
Pension
Benefits for
the
Applicable
Year
($)
Fair Value
of
Current
Year
Equity
Awards
Unvested
at End of
Applicable
Year
($)
Change in
Fair
Value of
Prior
Years'
Awards
Unvested
at End
of
Applicable
Year
($)
Change in
Fair
Value of
Prior
Years'
Awards
that
Vested
in
Applicable
Year
($)
Pension
Service Costs
($)
CAP
($)
CEO
2025
22,364,273
14,797,601
1,095,186
12,400,614
(3,017,095)
(2,623,856)
573,858
13,805,007
2024
20,321,179
13,262,590
636,545
15,793,091
3,554,633
4,029,542
558,670
30,357,980
2023
20,526,009
12,882,913
1,088,180
10,009,668
(1,964,349)
283,937
504,418
15,388,590
2022
18,107,426
11,442,688
—
13,616,111
5,101,141
7,078,340
522,716
32,983,046
2021
16,621,373
9,893,593
449,706
12,172,019
5,816,816
7,807,098
432,957
32,506,964
Non-CEO NEOs
2025
7,963,224
4,250,896
423,119
3,562,313
(849,793)
(706,201)
206,493
5,502,021
2024
7,140,525
3,618,544
269,583
4,308,962
1,101,918
1,127,719
205,628
9,996,625
2023
7,576,385
3,979,523
358,844
3,229,652
(550,592)
86,094
183,658
6,186,830
2022
7,470,032
3,630,483
347,697
4,320,054
1,697,713
2,076,407
220,964
11,806,990
2021
6,877,477
3,226,219
313,784
3,969,194
1,778,349
2,110,126
179,175
11,374,318
a There were no equity awards that were granted and vested in the applicable year or awards that failed to meet vesting conditions in the applicable year.
b There was no cost for benefits during the applicable year that is attributed to services rendered in prior periods.
        
Non-PEO NEO Average Total Compensation Amount $ 7,963,224 7,140,525 7,576,385 7,470,032 6,877,477
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,502,021 9,996,625 6,186,830 11,806,990 11,374,318
Adjustment to Non-PEO NEO Compensation Footnote Compensation Actually Paid (CAP) is calculated as required by the SEC rules based on the compensation disclosed in the “Total” column of the Summary
Compensation Table (SCT Total), with specified adjustments for equity-based compensation and pensions. To calculate CAP, the required amounts were
deducted from and added to the SCT Total as shown in the table below.
Deductions from SCT Total
Additions to SCT Total
Equity
Component
Pension
Component
Equity Componenta
Pension
Componentb
Year
SCT
Total
($)
Grant Date
Fair
Value of
Equity
Awards
Granted
in the
Applicable
Year
($)
Change in the
Actuarial
Present
Value of
Pension
Benefits for
the
Applicable
Year
($)
Fair Value
of
Current
Year
Equity
Awards
Unvested
at End of
Applicable
Year
($)
Change in
Fair
Value of
Prior
Years'
Awards
Unvested
at End
of
Applicable
Year
($)
Change in
Fair
Value of
Prior
Years'
Awards
that
Vested
in
Applicable
Year
($)
Pension
Service Costs
($)
CAP
($)
CEO
2025
22,364,273
14,797,601
1,095,186
12,400,614
(3,017,095)
(2,623,856)
573,858
13,805,007
2024
20,321,179
13,262,590
636,545
15,793,091
3,554,633
4,029,542
558,670
30,357,980
2023
20,526,009
12,882,913
1,088,180
10,009,668
(1,964,349)
283,937
504,418
15,388,590
2022
18,107,426
11,442,688
—
13,616,111
5,101,141
7,078,340
522,716
32,983,046
2021
16,621,373
9,893,593
449,706
12,172,019
5,816,816
7,807,098
432,957
32,506,964
Non-CEO NEOs
2025
7,963,224
4,250,896
423,119
3,562,313
(849,793)
(706,201)
206,493
5,502,021
2024
7,140,525
3,618,544
269,583
4,308,962
1,101,918
1,127,719
205,628
9,996,625
2023
7,576,385
3,979,523
358,844
3,229,652
(550,592)
86,094
183,658
6,186,830
2022
7,470,032
3,630,483
347,697
4,320,054
1,697,713
2,076,407
220,964
11,806,990
2021
6,877,477
3,226,219
313,784
3,969,194
1,778,349
2,110,126
179,175
11,374,318
a There were no equity awards that were granted and vested in the applicable year or awards that failed to meet vesting conditions in the applicable year.
b There was no cost for benefits during the applicable year that is attributed to services rendered in prior periods.
        
Compensation Actually Paid vs. Total Shareholder Return CAP vs. Company TSR:
3887
        
Compensation Actually Paid vs. Net Income CAP vs. Net Income:a
3910
aNet income is not used by management to evaluate business or executive performance or allocate resources.
        
Compensation Actually Paid vs. Company Selected Measure CAP vs. Adjusted Earnings:a
4046
aAdjusted Earnings, which is the Company’s selected measure for “Pay versus Performance” purposes of this Proxy Statement, is used by management to
evaluate performance and allocate resources. Adjusted Earnings is also the Company’s GAAP measure of segment performance. Adjusted Earnings is
further adjusted for purposes of determining certain elements of compensation for our CEO and other NEOs. Please refer to the Annual Incentive Awards
and Stock-Based LTI sections of the Proxy Statement for more information.
        
Total Shareholder Return Vs Peer Group Company TSR vs Peer Group TSR:
4633
        
Tabular List, Table
Most Important Performance Measures
Adjusted Earnings1
Adjusted ROE2
TSR relative to TSR Peer Group3
        
Total Shareholder Return Amount $ 195.93 197.52 154.76 163.78 137.35
Peer Group Total Shareholder Return Amount 201.00 189.86 157.83 150.82 136.68
Net Income (Loss) $ 3,173,000,000 $ 4,226,000,000 $ 1,380,000,000 $ 2,354,000,000 $ 6,353,000,000
Company Selected Measure Amount 5,943,000,000 5,796,000,000 5,525,000,000 5,545,000,000 7,954,000,000
PEO Name Mr. Khalaf        
Additional 402(v) Disclosure The assumptions used in calculating the fair value of unvested equity awards as of December 31st of each year were consistent with those used to calculate
the grant date fair value for the SCT Total, except that the expected level of achievement of any performance criteria applicable to outstanding Performance
Shares was determined based on projections taking into account the expected level of achievement as of December 31st of the applicable year, the
assumptions for the binomial lattice model used to value Stock Options were updated as of December 31st of each year, and the share price was determined
for all equity compensation based on the value on December 31st of the applicable year (or the vest date if earlier, in all cases). The amounts shown do not
constitute a promise or commitment by the Company to pay and final outcomes are likely to be different.
Represents the Company’s one-year, two-year, three-year, four-year and five-year TSR as compared to the one-year, two-year, three-year, four-year and five-
year TSR of the S&P 500 Life & Health Index. In each case, TSR is measured starting from December 31, 2020 (the last trading day before the earliest fiscal
year reflected in this table, consistent with the requirements of item 402(v)(2)(iv)) of Regulation S-K.
Amounts for 2021 and 2022 have not been restated to reflect the adoption of the LDTI accounting standard. The net income reported in this column is the net
income that is disclosed in the Company’s audited GAAP financial statements.
The following graphs show the relationships between CAP for our CEO and non-CEO NEOs versus select measures, as well
as the relationship between Company TSR and Peer Group TSR.
Adjusted Earnings, as further adjusted as described in the Annual Incentive Awards section of the Proxy Statement, is the primary metric used for AVIP
funding purposes and also a key component of the Adjusted ROE calculation. As such, it has a key relationship with actual compensation outcomes.
2Adjusted ROE compared to the three-year Business Plan goal reflects 50% of the performance goals for Performance Shares, which represents 70% of
NEOs’ total LTI award value, as discussed in the Pay versus Performance section of this Proxy Statement. As such, it has a key relationship with actual
compensation outcomes.
3TSR relative to TSR Peer Group (a custom peer group of insurance companies that are competitors for capital, business and executive talent) reflects 50% of
the performance goals for Performance Shares, which represents 70% of NEOs’ total LTI award value, as discussed in Pay versus Performance section of this
Proxy Statement. As such, it has a key relationship with actual compensation outcomes.
        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted Earnings        
Non-GAAP Measure Description Adjusted Earnings means adjusted earnings available to common shareholders. See Appendix B for definitions of these non-GAAP measures and reconciliations to the most directly comparable measures that are based on GAAP.        
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted ROE        
Measure:: 3          
Pay vs Performance Disclosure          
Name TSR relative to TSR Peer Group        
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (1,095,186) $ (636,545) $ (1,088,180) $ 0 $ (449,706)
PEO | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 573,858 558,670 504,418 522,716 432,957
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (14,797,601) (13,262,590) (12,882,913) (11,442,688) (9,893,593)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 12,400,614 15,793,091 10,009,668 13,616,111 12,172,019
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (3,017,095) 3,554,633 (1,964,349) 5,101,141 5,816,816
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,623,856) 4,029,542 283,937 7,078,340 7,807,098
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (423,119) (269,583) (358,844) (347,697) (313,784)
Non-PEO NEO | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 206,493 205,628 183,658 220,964 179,175
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,250,896) (3,618,544) (3,979,523) (3,630,483) (3,226,219)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,562,313 4,308,962 3,229,652 4,320,054 3,969,194
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (849,793) 1,101,918 (550,592) 1,697,713 1,778,349
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (706,201) $ 1,127,719 $ 86,094 $ 2,076,407 $ 2,110,126