v3.26.1
Future Policy Benefit Reserves - Summary of Balances and Changes (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Present value of future net premiums        
Balance, January 1 $ 3,363 $ 3,425    
Effect of changes in discount rate (23) (38) $ (71) $ (7)
Balance, January 1, at original locked in discount rate 3,292 3,418    
Effect of changes in cash flow assumptions     0 0
Expect of actual variances from expected experience     0 5
Adjusted balance, January 1     3,292 3,423
Interest accrual 42 44    
Net premiums: earned during period (99) (101)    
Balance, end of period at original locked in discount rate 3,235 3,366    
Effect of changes in discount rate 23 38 71 7
Balance, March 31 3,258 3,404    
Present value of future benefits & expenses        
Balance, January 1 16,811 16,583    
Effect of changes in discount rate 492 264 173 440
Balance, January 1, at original locked in discount rate 16,984 17,023    
Effect of change in cash flow assumptions     0 0
Effect of actual variances from expected experience     19 13
Adjusted balance, January 1     17,003 17,036
Interest accrual 227 229    
Benefit & expense payments (285) (293)    
Balance, end of period at original locked in discount rate 16,945 16,972    
Effect of changes in discount rate (492) (264) (173) $ (440)
Balance, March 31 16,453 16,708    
Net LFPB 13,195 13,304 $ 13,448  
Insurance claims and policyholders benefits, including policyholders' dividends, remeasurement impact $ (19) $ (8)