v3.26.1
MARKET RISK BENEFITS - Changes in the Market Risk Benefits for Deferred Variable Annuities (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Retirement | GMxB Core    
Market Risk Benefit [Roll Forward]    
Balance, beginning of period $ 804 $ 496
Balance BOP before changes in the instrument specific credit risk 394 163
Model changes and effect of changes in cash flow assumptions 0 0
Actual market movement effect 96 71
Interest accrual 16 15
Attributed fees accrued 97 94
Benefit payments (12) (11)
Actual policyholder behavior different from expected behavior 5 13
Changes in future economic assumptions (22) 147
Issuances 2 3
Balance EOP before changes in the instrument-specific credit risk 576 495
Changes in the instrument-specific credit risk 230 222
Balance, end of period $ 806 $ 717
Weighted-average age of policyholders (years) 66 years 6 months 65 years 7 months 6 days
Net amount at risk $ 3,096 $ 3,112
Corporate & Other | GMxB Legacy    
Market Risk Benefit [Roll Forward]    
Balance, beginning of period 8,633 10,508
Balance BOP before changes in the instrument specific credit risk 7,925 9,735
Model changes and effect of changes in cash flow assumptions (37) (1,344)
Actual market movement effect 303 349
Interest accrual 75 106
Attributed fees accrued 149 165
Benefit payments (264) (280)
Actual policyholder behavior different from expected behavior 24 20
Changes in future economic assumptions (114) 585
Issuances 0 0
Balance EOP before changes in the instrument-specific credit risk 8,061 9,336
Changes in the instrument-specific credit risk 274 169
Balance, end of period $ 8,335 $ 9,505
Weighted-average age of policyholders (years) 74 years 4 months 24 days 73 years 9 months 18 days
Net amount at risk $ 15,393 $ 16,915
Corporate & Other | Purchased MRB    
Market Risk Benefit [Roll Forward]    
Balance, beginning of period (5,258) (7,372)
Balance BOP before changes in the instrument specific credit risk (5,263) (7,368)
Model changes and effect of changes in cash flow assumptions 55 1,855
Actual market movement effect (140) (116)
Interest accrual (46) (64)
Attributed fees accrued (52) (60)
Benefit payments 122 129
Actual policyholder behavior different from expected behavior (15) 0
Changes in future economic assumptions 83 (333)
Issuances 0 0
Balance EOP before changes in the instrument-specific credit risk (5,256) (5,957)
Changes in the instrument-specific credit risk (9) (16)
Balance, end of period $ (5,265) $ (5,973)
Weighted-average age of policyholders (years) 73 years 10 months 24 days 73 years 3 months 18 days
Net amount at risk $ 6,897 $ 7,541
Corporate & Other | Net Legacy    
Market Risk Benefit [Roll Forward]    
Balance, beginning of period 3,375 3,136
Balance BOP before changes in the instrument specific credit risk 2,662 2,367
Model changes and effect of changes in cash flow assumptions 18 511
Actual market movement effect 163 233
Interest accrual 29 42
Attributed fees accrued 97 105
Benefit payments (142) (151)
Actual policyholder behavior different from expected behavior 9 20
Changes in future economic assumptions (31) 252
Issuances 0 0
Balance EOP before changes in the instrument-specific credit risk 2,805 3,379
Changes in the instrument-specific credit risk 265 153
Balance, end of period $ 3,070 $ 3,532