v3.26.1
Fair Value of Assets and Liabilities (Financial Instruments where Carrying Amounts and Fair Values May Differ) (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Assets:      
Commercial mortgage and other loans [1] $ 65,412 $ 64,715  
Policy loans 9,988 9,958  
Other invested assets [1] 27,792 27,294  
Cash and cash equivalents 15,936 [1] 19,712 [1] $ 16,063
Accrued investment income [1] 3,633 3,636  
Reinsurance recoverables and deposit receivables [2] 43,213 44,077  
Other assets, assets at fair value 0 0  
Liabilities:      
Securities sold under agreements to repurchase 10,975 9,598  
Cash collateral for loaned securities 8,905 8,700  
Reinsurance and funds withheld payables [2] 19,270 18,844  
Short-term debt 946 1,443  
Long-term debt 18,882 18,856  
Other Liabilities, derivatives at fair value 6,401 6,215  
Fair Value      
Assets:      
Commercial mortgage and other loans 62,301 63,178  
Policy loans 9,988 9,958  
Other invested assets 93 93  
Short-term investments 626 633  
Cash and cash equivalents 6,670 6,874  
Accrued investment income 3,633 3,636  
Reinsurance recoverables and deposit receivables 7,074 6,718  
Other assets, assets at fair value 3,459 3,181  
Total assets 93,844 94,271  
Liabilities:      
Policyholders’ account balances—investment contracts 84,787 85,106  
Securities sold under agreements to repurchase 10,975 9,598  
Cash collateral for loaned securities 8,905 8,700  
Reinsurance and funds withheld payables 10,735 10,607  
Short-term debt 946 1,441  
Long-term debt 17,779 18,353  
Notes issued by consolidated VIEs 1,953 1,892  
Other Liabilities, derivatives at fair value 7,667 7,024  
Separate account liabilities—investment contracts 39,865 40,211  
Total liabilities 183,612 182,932  
Carrying Amount      
Assets:      
Commercial mortgage and other loans 63,917 63,659  
Policy loans 9,988 9,958  
Other invested assets 93 93  
Short-term investments 626 633  
Cash and cash equivalents 6,670 6,874  
Accrued investment income 3,633 3,636  
Reinsurance recoverables and deposit receivables 7,074 6,718  
Other assets, assets at fair value 3,459 3,181  
Total assets 95,460 94,752  
Liabilities:      
Policyholders’ account balances—investment contracts 90,343 89,970  
Securities sold under agreements to repurchase 10,975 9,598  
Cash collateral for loaned securities 8,905 8,700  
Reinsurance and funds withheld payables 10,735 10,607  
Short-term debt 946 1,443  
Long-term debt 18,882 18,856  
Notes issued by consolidated VIEs 1,953 1,892  
Other Liabilities, derivatives at fair value 7,667 7,024  
Separate account liabilities—investment contracts 39,865 40,211  
Total liabilities 190,271 188,301  
Level 1 | Fair Value      
Assets:      
Commercial mortgage and other loans 0 0  
Policy loans 13 12  
Other invested assets 0 0  
Short-term investments 625 632  
Cash and cash equivalents 6,422 6,652  
Accrued investment income 0 0  
Reinsurance recoverables and deposit receivables 0 0  
Other assets, assets at fair value 56 37  
Total assets 7,116 7,333  
Liabilities:      
Policyholders’ account balances—investment contracts 0 0  
Securities sold under agreements to repurchase 0 0  
Cash collateral for loaned securities 0 0  
Reinsurance and funds withheld payables 0 0  
Short-term debt 0 0  
Long-term debt 7,263 7,507  
Notes issued by consolidated VIEs 0 0  
Other Liabilities, derivatives at fair value 0 0  
Separate account liabilities—investment contracts 0 0  
Total liabilities 7,263 7,507  
Level 2 | Fair Value      
Assets:      
Commercial mortgage and other loans 13 14  
Policy loans 0 0  
Other invested assets 93 93  
Short-term investments 1 1  
Cash and cash equivalents 248 222  
Accrued investment income 3,633 3,636  
Reinsurance recoverables and deposit receivables 8 8  
Other assets, assets at fair value 3,401 3,142  
Total assets 7,397 7,116  
Liabilities:      
Policyholders’ account balances—investment contracts 35,871 35,175  
Securities sold under agreements to repurchase 10,975 9,598  
Cash collateral for loaned securities 8,905 8,700  
Reinsurance and funds withheld payables 10,772 10,639  
Short-term debt 910 1,408  
Long-term debt 10,059 10,324  
Notes issued by consolidated VIEs 0 0  
Other Liabilities, derivatives at fair value 7,636 6,993  
Separate account liabilities—investment contracts 22,320 22,548  
Total liabilities 107,448 105,385  
Level 3 | Fair Value      
Assets:      
Commercial mortgage and other loans 62,288 63,164  
Policy loans 9,975 9,946  
Other invested assets 0 0  
Short-term investments 0 0  
Cash and cash equivalents 0 0  
Accrued investment income 0 0  
Reinsurance recoverables and deposit receivables 7,066 6,710  
Other assets, assets at fair value 2 2  
Total assets 79,331 79,822  
Liabilities:      
Policyholders’ account balances—investment contracts 48,916 49,931  
Securities sold under agreements to repurchase 0 0  
Cash collateral for loaned securities 0 0  
Reinsurance and funds withheld payables (37) (32)  
Short-term debt 36 33  
Long-term debt 457 522  
Notes issued by consolidated VIEs 1,953 1,892  
Other Liabilities, derivatives at fair value 31 31  
Separate account liabilities—investment contracts 17,545 17,663  
Total liabilities 68,901 70,040  
Prudential Netting Agreement | Fair Value      
Liabilities:      
Long-term debt 15,844 15,744  
Prudential Netting Agreement | Carrying Amount      
Liabilities:      
Long-term debt 15,844 15,744  
Prismic Life Reinsurance, Ltd | Fair Value      
Liabilities:      
Reinsurance and funds withheld payables 7,430 7,513  
Prismic Life Reinsurance, Ltd | Carrying Amount      
Liabilities:      
Reinsurance and funds withheld payables $ 7,430 $ 7,513  
[1] See Note 4 for details of balances associated with variable interest entities.
[2] See Note 20 for additional information regarding related party transactions.