v3.26.1
Reserve for Future Policy Benefits (Tables)
 6 Months Ended
Jun. 30, 2026
Insurance Loss Reserves [Abstract]  
Liability for Future Policy Benefit, Activity [Table Text Block]
Rollforward of Reserve for Future Policy Benefits
For the six months ended June 30,
20262025
Payout AnnuitiesLife ConversionsPaid-up LifePayout AnnuitiesLife ConversionsPaid-up Life
Present Value of Expected Net Premiums
Balance, beginning of the period$43 $45 
Balance, ending of the period $41 $43 
Present Value of Expected Future Policy Benefits
Beginning balance at single-A rate$123 $104 $165 $128 $106 $168 
Beginning adjustment for changes in single-A rate3 (15)(24)— (15)(33)
Beginning balance at original discount rate120 119 189 128 121 201 
Effect of changes in cash flow assumptions— — — — — — 
Effect of actual variances from expected experience2 1 (1)(2)3 (1)
Adjusted beginning balance122 120 188 126 124 200 
Issuances— 4 12 — — — 
Interest accrual and other2 8 3 3 11 3 
Benefit Payments(6)(19)(10)(6)(16)(12)
Ending balance at original discount rate118 113 193 123 119 191 
Ending adjustment for changes in single-A rate1 (13)(25)1 (15)(28)
Ending balance at single-A rate$119 $100 $168 $124 $104 $163 
Net reserve for future policy benefits$119 $59 $168 $124 $61 $163 
Weighted-average duration of the reserve for future policy benefits (years)9.310.45.89.311.06.5
 Net Reserve for Future Policy Benefits
As of June 30,
20262025
Payout Annuities$119 $124 
Life Conversions59 61 
Paid-up Life168 163 
Deferred Profit Liability16 19 
Other85 76 
Total$447 $443 
Undiscounted Expected Future Gross Premiums and Benefit Payments
As of June 30,
20262025
Payout Annuities [1]
Expected future benefit payments$232 $242 
Life Conversions
Expected future gross premiums$96 $102 
Expected future benefit payments$180 $192 
Paid-up Life [1]
Expected future benefit payments$246 $249 
[1]Payout Annuities and Paid-up Life have no expected future gross premiums.
Weighted-Average Interest Rates
As of June 30,
20262025
Payout Annuities
Interest accretion rate5.6 %5.6 %
Current discount rate5.5 %5.4 %
Life Conversions
Interest accretion rate4.3 %4.3 %
Current discount rate5.6 %5.6 %
Paid-up Life
Interest accretion rate3.0 %2.9 %
Current discount rate5.1 %5.0 %