v3.26.1
Reinsurance Reinsurance (Amounts Included in Statement of Operations) (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Insurance [Abstract]        
Direct premiums $ 5,808 $ 5,824 $ 12,990 $ 11,846
Reinsurance assumed 1,773 1,757 3,609 3,351
Reinsurance ceded (701) (599) (1,357) (1,215)
Premiums [1] 6,880 6,982 15,242 13,982
Direct policy charges and fee income 1,213 1,146 2,428 2,329
Reinsurance assumed 285 290 573 579
Reinsurance ceded (251) (187) (622) (502)
Policy charges and fee income 1,247 1,249 2,379 2,406
Direct change in value of market risk benefits, net of related hedging gains (losses) (100) (471) (412) (838)
Reinsurance assumed 46 39 29 11
Reinsurance ceded (17) 6 17 50
Change in value of market risk benefits, net of related hedging gains (losses) (71) (426) (366) (777)
Direct policyholders’ benefits 6,826 7,034 15,324 14,294
Reinsurance assumed 2,133 2,074 4,356 4,044
Reinsurance ceded (1,208) (927) (2,396) (2,017)
Policyholders’ benefits [1] 7,751 8,181 17,284 16,321
Direct change in estimates of liability for future policy benefits 315 (17) 326 (64)
Reinsurance assumed 61 (10) 71 (10)
Reinsurance ceded 137 (148) 155 (151)
Change in estimates of liability for future policy benefits [1] $ 513 $ (175) $ 552 $ (225)
[1] See Note 20 for additional information regarding related party transactions.