v3.26.1
Other Contract Holder Funds (Tables)
 6 Months Ended
Jun. 30, 2026
Participating Insurance [Abstract]  
Schedule of Policyholder Account Balance and Liability for Unpaid Claims and Claims Adjustment Expense
The following table presents the liabilities for other contract holder funds (in millions):

June 30, 2026December 31, 2025
Variable Annuity$6,065 $6,351 
RILA26,149 20,282 
Fixed Annuity9,221 9,494 
Fixed Index Annuities8,549 7,946 
Payout Annuity826 854 
Closed Block Life10,281 10,494 
Closed Block Annuity1,015 1,057 
Institutional Products11,018 11,021 
Other Product Lines161 164 
Total other contract holder funds$73,285 $67,663 
Schedule of Policyholder Account Balance
The following table presents a roll-forward of other contract holder funds, gross of reinsurance (in millions):

FixedClosedClosed
VariableFixedIndexPayoutBlockBlock
AnnuityRILAAnnuityAnnuitiesAnnuityLifeAnnuityTotal
Balance as of January 1, 2026$6,351 $20,282 $9,494 $7,946 $854 $10,494 $1,057 $56,478 
Deposits 398 4,354 244 1,331 83 124 2 6,536 
Surrenders, withdrawals and benefits (1,141)(366)(626)(760)(125)(398)(63)(3,479)
Net transfers from (to) separate accounts402 — — — — — — 402 
Investment performance / change in value of equity option— 1,830 — 57 — — — 1,887 
Interest credited78 47 177 82 14 313 19 730 
Policy charges and other(23)2 (68)(107)— (252)— (448)
Balance as of June 30, 2026$6,065 $26,149 $9,221 $8,549 $826 $10,281 $1,015 $62,106 

FixedClosedClosed
VariableFixedIndexPayoutBlockBlock
AnnuityRILAAnnuityAnnuitiesAnnuityLifeAnnuityTotal
Balance as of January 1, 2025$7,206 $11,685 $9,615 $8,515 $844 $10,750 $1,149 $49,764 
Deposits855 6,926 1,085 816 220 272 3 10,177 
Surrenders, withdrawals and benefits(2,204)(399)(1,392)(1,596)(238)(655)(132)(6,616)
Net transfers from (to) separate accounts372 — — — — — — 372 
Investment performance / change in value of equity option— 2,002 — 156 — — — 2,158 
Interest credited182 66 350 150 28 631 38 1,445 
Policy charges and other(60)2 (164)(95)— (504)(1)(822)
Balance as of December 31, 2025$6,351 $20,282 $9,494 $7,946 $854 $10,494 $1,057 $56,478 

The following table presents weighted average crediting rate, net amount at risk, and cash surrender value of contract holder account balances (dollars in millions):

FixedClosedClosed
VariableFixedIndexPayoutBlockBlock
AnnuityRILAAnnuityAnnuitiesAnnuityLifeAnnuity
June 30, 2026
Weighted-average crediting rate (1)
2.57 %0.36 %3.84 %1.92 %3.39 %6.09 %3.74 %
Net amount at risk (2)
$— $— $— $— $— $14,385 $— 
Cash surrender value (3)
$5,980 $25,911 $9,000 $8,319 $— $10,232 $1,015 
December 31, 2025
Weighted-average crediting rate (1)
2.87 %0.33 %3.69 %1.89 %3.28 %6.01 %3.60 %
Net amount at risk (2)
$— $— $— $— $— $14,750 $— 
Cash surrender value (3)
$6,330 $19,736 $9,277 $7,711 $— $10,445 $1,057 
(1) Weighted average crediting rate is the average crediting rate weighted by contract holder account balances invested in fixed account funds.
(2) Net amount at risk represents the standard excess benefit base for guaranteed death benefits on universal life type products. The net amount at risk associated with market risk benefits are presented within Note 12 - Market Risk Benefits of these Notes to Condensed Consolidated Financial Statements.
(3) Cash surrender value represents the amount of the contract holder’s account balance distributable at the balance sheet date less the applicable surrender charges.
Schedule of Policyholder Account Balance, Guaranteed Minimum Crediting Rate
The following table presents contract holder account balances invested in fixed account funds by range of guaranteed minimum crediting rates and the related range of the difference between rates being credited to other contract holder funds and the respective guaranteed minimums (in millions):

June 30, 2026
At Guaranteed
1 Basis Point-50
51 Basis Points-150
Greater Than 150
Range of Guaranteed Minimum Crediting RateMinimumBasis Points AboveBasis Points AboveBasis Points AboveTotal
Variable Annuities
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
4,070 — 151 — 4,221 
Greater than 2.50%
1,844 — — — 1,844 
Total$5,914 $— $151 $— $6,065 
RILA
0.00%-1.50%
$5 $— $3 $2 $10 
1.51%-2.50%
— — 37 — 37 
Greater than 2.50%
127 119 — — 246 
Total$132 $119 $40 $2 $293 
Fixed Annuities
0.00%-1.50%
$28 $21 $10 $1 $60 
1.51%-2.50%
24 1 36 9 70 
Greater than 2.50%
3,167 31 — 283 3,481 
Total$3,219 $53 $46 $293 $3,611 
Fixed Index Annuities
0.00%-1.50%
$3 $11 $2 $26 $42 
1.51%-2.50%
— 44 — 24 68 
Greater than 2.50%
33 15 67 44 159 
Total$36 $70 $69 $94 $269 
Closed Block Life
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
1 10 — — 11 
Greater than 2.50%
5,129 377 702 5 6,213 
Total$5,130 $387 $702 $5 $6,224 
Closed Block Annuity
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
— — 1 11 12 
Greater than 2.50%
833 17 23 — 873 
Total$833 $17 $24 $11 $885 
December 31, 2025
At Guaranteed
1 Basis Point-50
51 Basis Points-150
Greater Than 150
Range of Guaranteed Minimum Crediting RateMinimumBasis Points AboveBasis Points AboveBasis Points AboveTotal
Variable Annuities
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
137 — — — 137 
Greater than 2.50%
6,113 101 — — 6,214 
Total$6,250 $101 $— $— $6,351 
RILA
0.00%-1.50%
$5 $— $3 $3 $11 
1.51%-2.50%
— — — — — 
Greater than 2.50%
136 93 — — 229 
Total$141 $93 $3 $3 $240 
Fixed Annuities
0.00%-1.50%
$25 $37 $12 $28 $102 
1.51%-2.50%
16 1 1 — 18 
Greater than 2.50%
3,001 33 — 278 3,312 
Total$3,042 $71 $13 $306 $3,432 
Fixed Index Annuities
0.00%-1.50%
$3 $11 $2 $28 $44 
1.51%-2.50%
— — — — — 
Greater than 2.50%
36 — 86 53 175 
Total$39 $11 $88 $81 $219 
Closed Block Life
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
1 10 — — 11 
Greater than 2.50%
5,251 388 720 5 6,364 
Total$5,252 $398 $720 $5 $6,375 
Closed Block Annuity
0.00%-1.50%
$— $— $— $— $— 
1.51%-2.50%
— — 1 11 12 
Greater than 2.50%
872 18 24 — 914 
Total$872 $18 $25 $11 $926