v3.26.1
Future Policy Benefits Reserves - Balances and Changes (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Present value of future net premiums            
Balance, January 1     $ 3,363 $ 3,425    
Effect of changes in discount rate     (71) (7)    
Balance, January 1, at original locked in discount rate         $ 3,292 $ 3,418
Effect of changes in cash flow assumptions        
Expect of actual variances from expected experience         (8) (1)
Adjusted balance, January 1 $ 3,169 $ 3,302 3,169 3,302 3,284 3,417
Interest accrual     84 88    
Net premiums: earned during period     (199) (203)    
Balance, end of period at original locked in discount rate 3,169 3,302 3,169 3,302    
Effect of changes in discount rate 14 50 14 50    
Balance, June 30 3,183 3,352 3,183 3,352    
Present value of future benefits & expenses            
Balance, January 1     16,811 16,583    
Effect of changes in discount rate (456) (248) (456) (248) 173 440
Balance, January 1, at original locked in discount rate     16,984 17,023    
Effect of changes in cash flow assumptions        
Effect of actual variances from expected experience         36 22
Adjusted balance, January 1         17,020 $ 17,045
Interest accrual     454 458    
Benefit & expense payments     (573) (574)    
Balance, end of period at original locked in discount rate 16,901 16,929 16,901 16,929    
Balance, June 30 16,445 16,681 16,445 16,681    
Net LFPB 13,262 13,329 13,262 13,329 $ 13,448  
Re-measurement impact of insurance claims and policyholders’ benefits $ 25 $ 15 $ 44 $ 23