v3.26.1
Other Contract Holder Funds (Tables)
 3 Months Ended
Mar. 31, 2026
Participating Insurance [Abstract]  
Schedule of Policyholder Account Balance and Liability for Unpaid Claims and Claims Adjustment Expense
The following table presents the liabilities for other contract holder funds (in millions):

March 31, 2026December 31, 2025
Variable Annuity$6,193 $6,351 
RILA21,394 20,282 
Fixed Annuity9,300 9,494 
Fixed Index Annuities8,255 7,946 
Payout Annuity840 854 
Closed Block Life10,381 10,494 
Closed Block Annuity1,035 1,057 
Institutional Products11,141 11,021 
Other Product Lines164 164 
Total other contract holder funds$68,703 $67,663 
Schedule of Policyholder Account Balance
The following table presents a roll-forward of other contract holder funds, gross of reinsurance (in millions):

FixedClosedClosed
VariableFixedIndexPayoutBlockBlock
AnnuityRILAAnnuityAnnuitiesAnnuityLifeAnnuityTotal
Balance as of January 1, 2026$6,351 $20,282 $9,494 $7,946 $854 $10,494 $1,057 $56,478 
Deposits 196 2,010 89 677 45 66 1 3,084 
Surrenders, withdrawals and benefits (516)(164)(343)(341)(66)(207)(32)(1,669)
Net transfers from (to) separate accounts134 — — — — — — 134 
Investment performance / change in value of equity option— (757)— (17)— — — (774)
Interest credited39 22 89 40 7 156 9 362 
Policy charges and other(11)1 (29)(50)— (128)— (217)
Balance as of March 31, 2026$6,193 $21,394 $9,300 $8,255 $840 $10,381 $1,035 $57,398 

FixedClosedClosed
VariableFixedIndexPayoutBlockBlock
AnnuityRILAAnnuityAnnuitiesAnnuityLifeAnnuityTotal
Balance as of January 1, 2025$7,206 $11,685 $9,615 $8,515 $844 $10,750 $1,149 $49,764 
Deposits855 6,926 1,085 816 220 272 3 10,177 
Surrenders, withdrawals and benefits(2,204)(399)(1,392)(1,596)(238)(655)(132)(6,616)
Net transfers from (to) separate accounts372 — — — — — — 372 
Investment performance / change in value of equity option— 2,002 — 156 — — — 2,158 
Interest credited182 66 350 150 28 631 38 1,445 
Policy charges and other(60)2 (164)(95)— (504)(1)(822)
Balance as of December 31, 2025$6,351 $20,282 $9,494 $7,946 $854 $10,494 $1,057 $56,478 

The following table presents weighted average crediting rate, net amount at risk, and cash surrender value of contract holder account balances (dollars in millions):

FixedClosedClosed
VariableFixedIndexPayoutBlockBlock
AnnuityRILAAnnuityAnnuitiesAnnuityLifeAnnuity
March 31, 2026
Weighted-average crediting rate (1)
2.52 %0.41 %3.83 %1.94 %3.33 %6.01 %3.48 %
Net amount at risk (2)
$— $— $— $— $— $14,592 $— 
Cash surrender value (3)
$6,190 $20,861 $9,087 $8,059 $— $10,332 $1,035 
December 31, 2025
Weighted-average crediting rate (1)
2.87 %0.33 %3.69 %1.89 %3.28 %6.01 %3.60 %
Net amount at risk (2)
$— $— $— $— $— $14,750 $— 
Cash surrender value (3)
$6,330 $19,736 $9,277 $7,711 $— $10,445 $1,057 
(1) Weighted average crediting rate is the average crediting rate weighted by contract holder account balances invested in fixed account funds.
(2) Net amount at risk represents the standard excess benefit base for guaranteed death benefits on universal life type products. The net amount at risk associated with market risk benefits are presented within Note 12 - Market Risk Benefits of these Notes to Condensed Consolidated Financial Statements.
(3) Cash surrender value represents the amount of the contract holder’s account balance distributable at the balance sheet date less the applicable surrender charges.
Schedule of Policyholder Account Balance, Guaranteed Minimum Crediting Rate
The following table presents contract holder account balances invested in fixed account funds by range of guaranteed minimum crediting rates and the related range of the difference between rates being credited to other contract holder funds and the respective guaranteed minimums (in millions):

March 31, 2026
At Guaranteed
1 Basis Point-50
51 Basis Points-150
Greater Than 150
Range of Guaranteed Minimum Crediting RateMinimumBasis Points AboveBasis Points AboveBasis Points AboveTotal
Variable Annuities
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
4,153 — 125 — 4,278 
Greater than 2.50%
1,915 — — — 1,915 
Total$6,068 $— $125 $— $6,193 
RILA
0.00%-1.50%
$5 $— $3 $3 $11 
1.51%-2.50%
— — 24 — 24 
Greater than 2.50%
113 109 — — 222 
Total$118 $109 $27 $3 $257 
Fixed Annuities
0.00%-1.50%
$24 $31 $11 $1 $67 
1.51%-2.50%
18 1 41 4 64 
Greater than 2.50%
3,029 32 — 277 3,338 
Total$3,071 $64 $52 $282 $3,469 
Fixed Index Annuities
0.00%-1.50%
$3 $11 $2 $27 $43 
1.51%-2.50%
— 24 — 12 36 
Greater than 2.50%
34 5 82 46 167 
Total$37 $40 $84 $85 $246 
Closed Block Life
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
1 10 — — 11 
Greater than 2.50%
5,189 382 709 5 6,285 
Total$5,190 $392 $709 $5 $6,296 
Closed Block Annuity
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
— — 1 11 12 
Greater than 2.50%
850 17 24 — 891 
Total$850 $17 $25 $11 $903 
December 31, 2025
At Guaranteed
1 Basis Point-50
51 Basis Points-150
Greater Than 150
Range of Guaranteed Minimum Crediting RateMinimumBasis Points AboveBasis Points AboveBasis Points AboveTotal
Variable Annuities
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
137 — — — 137 
Greater than 2.50%
6,113 101 — — 6,214 
Total$6,250 $101 $— $— $6,351 
RILA
0.00%-1.50%
$5 $— $3 $3 $11 
1.51%-2.50%
— — — — — 
Greater than 2.50%
136 93 — — 229 
Total$141 $93 $3 $3 $240 
Fixed Annuities
0.00%-1.50%
$25 $37 $12 $28 $102 
1.51%-2.50%
16 1 1 — 18 
Greater than 2.50%
3,001 33 — 278 3,312 
Total$3,042 $71 $13 $306 $3,432 
Fixed Index Annuities
0.00%-1.50%
$3 $11 $2 $28 $44 
1.51%-2.50%
— — — — — 
Greater than 2.50%
36 — 86 53 175 
Total$39 $11 $88 $81 $219 
Closed Block Life
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
1 10 — — 11 
Greater than 2.50%
5,251 388 720 5 6,364 
Total$5,252 $398 $720 $5 $6,375 
Closed Block Annuity
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
— — 1 11 12 
Greater than 2.50%
872 18 24 — 914 
Total$872 $18 $25 $11 $926