Subsequent Event |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Event | Subsequent Event On July 30, 2026, we entered into an agreement with Talcott Financial Group (“Talcott”) under which we will cede approximately $5.8 billion of in-force guaranteed universal life statutory reserves to a Talcott subsidiary. In connection with the transaction, we will also reinsure approximately $500 million of funding agreement business with a subsidiary of Talcott. The transaction is structured partly as coinsurance with funds withheld and partly as modified coinsurance between us and Talcott, with counterparty protections including over-collateralization and agreed-upon investment guidelines designed to align with our risk management framework. Under the terms of the agreement, we will retain account administration and recordkeeping of the policies including claims management. This transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close during the fourth quarter of 2026 with an effective date as of October 1, 2026.
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