v3.26.1
Future Policy Benefits - Schedule of Balances and Changes in Present Value of Expected Net Premiums and Present Value of Expected Future Policy Benefits Underlying LFPB (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Present Value of Expected Net Premiums    
Balance at then current discount rate, beginning of period, Present value of expected net premiums $ 14,067,204 $ 13,854,794
Balance at original discount rate, beginning of period, Present value of expected net premium 14,051,078 14,233,996
Effect of changes in cash flow assumptions, Present value of expected net premiums (151) (354,521)
Effect of actual variances from expected experience, Present value of expected net premiums (148,230) (384,313)
Adjusted balance, beginning of period 13,902,697 13,495,162
Issuances, Present value of expected net premiums 432,393 1,651,384
Interest accrual at Original discount rate, Present value of expected net premiums 154,711 627,419
Net premiums collected, Present value of expected net premiums (443,446) (1,770,529)
Foreign currency translation, Present value of expected net premiums (19,165) 47,642
Expected net premiums at original discount rate, end of period 14,027,190 14,051,078
Effect of changes in discount rate assumptions, Present value of expected net premiums (175,352) 16,126
Balance at then current discount rate, end of period, Present value of expected net premiums 13,851,838 14,067,204
Present Value of Expected Future Policy Benefits    
Balance at then current discount rate, beginning of period, Present value of expected future policy benefits 20,681,705 20,155,487
Balance at original discount rate, beginning of period, Present value of expected future policy benefits 20,742,060 20,763,900
Effect of changes in cash flow assumptions, Present value of expected future policy benefits (146) (436,663)
Effect of actual variances from expected experience, Present value of expected future policy benefits (167,489) (426,822)
Adjusted balance, beginning of period, Present value of expected future policy benefits 20,574,425 19,900,415
Issuances, Present value of expected future policy benefits 431,865 1,655,501
Interest accrual at original discount rate, Present value of expected future policy benefits 238,583 958,540
Benefit payments, Present value of expected future policy benefits (446,710) (1,846,085)
Foreign currency translation, Present value of expected future policy benefits (29,201) 73,689
Expected future policy benefits at original discount rate, end of period, Present value of expected future policy benefits 20,768,962 20,742,060
Effect of changes in discount rate assumptions, Present value of expected future policy benefits (388,502) (60,355)
Expected future policy benefits at then current discount rate, end of period, Present value of expected future policy benefits 20,380,460 20,681,705
LFPB $ 6,728,920 $ 6,818,179
Weighted-average duration of net LFPB 8 years 3 months 18 days 8 years 3 months 18 days
Term Life    
Present Value of Expected Future Policy Benefits    
LFPB $ 6,528,622 $ 6,614,501
Less: reinsurance recoverables 2,465,179 2,550,187
Net LFPB, after reinsurance recoverables $ 4,063,443 $ 4,064,314