v3.26.1
Fair Value Measurements - Schedule of Assets and Liabilities Carried at Fair Value by Hierarchy Levels (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Assets    
Debt securities $ 55,742 $ 50,791
Equity securities 262 172
Mortgage loans 595 324
Limited partnerships 314 250
Policy loans 3,617 3,537
Freestanding derivative instruments 422 448
Cash and cash equivalents 5,986 5,704
Reinsurance recoverable on market risk benefits 109 118
Market risk benefit assets 8,046 7,867
Separate account assets 245,387 236,496
Total 320,480 305,707
Liabilities    
Embedded derivative liabilities 9,245 6,906
Funds withheld payable under reinsurance treaties 2,155 1,971
Market risk benefit liabilities 3,368 3,754
Total 17,899 15,466
Limited partnership investments measured at NAV 2,765 2,586
Freestanding derivatives    
Liabilities    
Freestanding derivative instruments 657 257
Related Party    
Liabilities    
Notes issued by consolidated VIEs 2,474 2,578
Level 1    
Assets    
Equity securities 102 10
Mortgage loans 0 0
Limited partnerships 0 0
Policy loans 0 0
Freestanding derivative instruments 0 0
Cash and cash equivalents 5,986 5,704
Reinsurance recoverable on market risk benefits 0 0
Market risk benefit assets 0 0
Separate account assets 0 0
Total 9,557 8,719
Liabilities    
Embedded derivative liabilities 0 0
Funds withheld payable under reinsurance treaties 0 0
Market risk benefit liabilities 0 0
Total 0 0
Level 1 | Freestanding derivatives    
Liabilities    
Freestanding derivative instruments 0 0
Level 1 | Related Party    
Liabilities    
Notes issued by consolidated VIEs 0 0
Level 2    
Assets    
Equity securities 149 155
Mortgage loans 0 0
Limited partnerships 0 0
Policy loans 0 0
Freestanding derivative instruments 422 448
Cash and cash equivalents 0 0
Reinsurance recoverable on market risk benefits 0 0
Market risk benefit assets 0 0
Separate account assets 245,387 236,496
Total 297,814 284,113
Liabilities    
Embedded derivative liabilities 9,245 6,906
Funds withheld payable under reinsurance treaties 0 0
Market risk benefit liabilities 0 0
Total 12,376 9,741
Level 2 | Freestanding derivatives    
Liabilities    
Freestanding derivative instruments 657 257
Level 2 | Related Party    
Liabilities    
Notes issued by consolidated VIEs 2,474 2,578
Level 3    
Assets    
Equity securities 11 7
Mortgage loans 595 324
Limited partnerships 314 250
Policy loans 3,617 3,537
Freestanding derivative instruments 0 0
Cash and cash equivalents 0 0
Reinsurance recoverable on market risk benefits 109 118
Market risk benefit assets 8,046 7,867
Separate account assets 0 0
Total 13,109 12,875
Liabilities    
Embedded derivative liabilities 0 0
Funds withheld payable under reinsurance treaties 2,155 1,971
Market risk benefit liabilities 3,368 3,754
Total 5,523 5,725
Level 3 | RILA embedded derivatives    
Liabilities    
Embedded derivative liabilities 8,395 6,043
Level 3 | Fixed index annuity embedded derivatives    
Liabilities    
Embedded derivative liabilities 850 863
Level 3 | Freestanding derivatives    
Liabilities    
Freestanding derivative instruments 0 0
Level 3 | Related Party    
Liabilities    
Notes issued by consolidated VIEs 0 0
U.S. government securities    
Assets    
Debt securities 3,469 3,005
U.S. government securities | Level 1    
Assets    
Debt securities 3,469 3,005
U.S. government securities | Level 2    
Assets    
Debt securities 0 0
U.S. government securities | Level 3    
Assets    
Debt securities 0 0
Other government securities    
Assets    
Debt securities 1,112 1,065
Other government securities | Level 1    
Assets    
Debt securities 0 0
Other government securities | Level 2    
Assets    
Debt securities 1,112 1,065
Other government securities | Level 3    
Assets    
Debt securities 0 0
Public utilities    
Assets    
Debt securities 6,698 6,146
Public utilities | Level 1    
Assets    
Debt securities 0 0
Public utilities | Level 2    
Assets    
Debt securities 6,698 6,146
Public utilities | Level 3    
Assets    
Debt securities 0 0
Corporate securities    
Assets    
Debt securities 34,981 32,916
Corporate securities | Level 1    
Assets    
Debt securities 0 0
Corporate securities | Level 2    
Assets    
Debt securities 34,847 32,570
Corporate securities | Level 3    
Assets    
Debt securities 134 346
Residential mortgage-backed    
Assets    
Debt securities 446 442
Residential mortgage-backed | Level 1    
Assets    
Debt securities 0 0
Residential mortgage-backed | Level 2    
Assets    
Debt securities 446 442
Residential mortgage-backed | Level 3    
Assets    
Debt securities 0 0
Commercial mortgage-backed    
Assets    
Debt securities 2,029 1,829
Commercial mortgage-backed | Level 1    
Assets    
Debt securities 0 0
Commercial mortgage-backed | Level 2    
Assets    
Debt securities 2,029 1,829
Commercial mortgage-backed | Level 3    
Assets    
Debt securities 0 0
Other asset-backed securities    
Assets    
Debt securities 7,007 5,388
Other asset-backed securities | Level 1    
Assets    
Debt securities 0 0
Other asset-backed securities | Level 2    
Assets    
Debt securities 6,724 4,962
Other asset-backed securities | Level 3    
Assets    
Debt securities 283 426
Derivatives related to funds withheld under reinsurance treaties    
Assets    
Freestanding derivative instruments 1,667 1,770
Liabilities    
Freestanding derivative instruments 10 22
Derivatives related to funds withheld under reinsurance treaties | Funds withheld embedded derivative    
Assets    
Freestanding derivative instruments 1,651 1,752
Liabilities    
Freestanding derivative instruments $ 0 $ 0