v3.26.1
Future Policy Benefits - Balances of changes in liability for future policy benefits (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Present value of expected net premiums        
Balance, beginning of year $ 9,190 $ 9,158    
Effect of changes in discount rate assumptions (AOCI) 538 858    
Reclassified due to reinsurance recapture   0    
Beginning balance at original discount rate 9,728 10,016    
Effect of actual variances from expected experience     $ (29) $ (18)
Adjusted beginning of year balance 9,699 9,998    
Issuances 380 328    
Interest accrual 188 196    
Net premium collected (596) (578)    
Other 2 0    
Ending balance at original discount rate 9,673 9,944    
Effect of changes in discount rate assumptions (AOCI) (643) (678)    
Balance, end of period 9,030 9,266    
Present value of expected future policy benefits        
Balance, beginning of year 61,592 57,009    
Effect of changes in discount rate assumptions (AOCI) 5,836 6,630    
Reclassified due to reinsurance recapture       0
Beginning balance at original discount rate 67,428 63,639    
Effect of actual variances from expected experience     (48) (31)
Adjusted beginning of year balance 67,380 63,608    
Issuances 583 915    
Interest accrual 1,489 1,398    
Benefit payments (2,460) (2,277)    
Foreign exchange impact (167) 893    
Other 3 (6)    
Ending balance at original discount rate 66,828 64,531    
Effect of changes in discount rate assumptions (AOCI) (6,765) (6,267)    
Balance, end of period 60,063 58,264    
Net liability for future policy benefits, end of period 51,033 48,998    
Liability for future policy benefits for certain participating contracts 1,214 1,251    
Liability for universal life policies 4,340 4,161    
Deferred profit liability 2,465 2,534    
Other reconciling items 489 541    
Future policy benefits for life and accident and health insurance contracts 59,541 57,485 60,971  
Less: Reinsurance recoverable: (20,311) (20,735)    
Net liability for future policy benefits after reinsurance recoverable 39,230 36,750    
Individual Retirement        
Present value of expected net premiums        
Balance, beginning of year 0 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Reclassified due to reinsurance recapture   0    
Beginning balance at original discount rate 0 0    
Effect of actual variances from expected experience     0 0
Adjusted beginning of year balance 0 0    
Issuances 0 0    
Interest accrual 0 0    
Net premium collected 0 0    
Other 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Balance, end of period 0 0    
Present value of expected future policy benefits        
Balance, beginning of year 1,173 1,130    
Effect of changes in discount rate assumptions (AOCI) 110 145    
Reclassified due to reinsurance recapture       0
Beginning balance at original discount rate 1,283 1,275    
Effect of actual variances from expected experience     (14) (7)
Adjusted beginning of year balance 1,269 1,268    
Issuances 34 48    
Interest accrual 25 25    
Benefit payments (59) (58)    
Foreign exchange impact 0 0    
Other 0 (1)    
Ending balance at original discount rate 1,269 1,282    
Effect of changes in discount rate assumptions (AOCI) (119) (122)    
Balance, end of period 1,150 1,160    
Net liability for future policy benefits, end of period 1,150 1,160    
Liability for future policy benefits for certain participating contracts 0 0    
Liability for universal life policies 0 0    
Deferred profit liability 31 34    
Other reconciling items 13 15    
Future policy benefits for life and accident and health insurance contracts 1,194 1,209    
Less: Reinsurance recoverable: (5) (5)    
Net liability for future policy benefits after reinsurance recoverable $ 1,189 $ 1,204    
Weighted average liability duration of the liability for future policy benefits (in years) 7 years 2 months 12 days 7 years 4 months 24 days    
Group Retirement        
Present value of expected net premiums        
Balance, beginning of year $ 0 $ 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Reclassified due to reinsurance recapture   0    
Beginning balance at original discount rate 0 0    
Effect of actual variances from expected experience     0 0
Adjusted beginning of year balance 0 0    
Issuances 0 0    
Interest accrual 0 0    
Net premium collected 0 0    
Other 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Balance, end of period 0 0    
Present value of expected future policy benefits        
Balance, beginning of year 291 202    
Effect of changes in discount rate assumptions (AOCI) (5) 3    
Reclassified due to reinsurance recapture       102
Beginning balance at original discount rate 286 307    
Effect of actual variances from expected experience     0 2
Adjusted beginning of year balance 286 309    
Issuances 5 4    
Interest accrual 7 8    
Benefit payments (19) (23)    
Foreign exchange impact 0 0    
Other 0 (2)    
Ending balance at original discount rate 279 296    
Effect of changes in discount rate assumptions (AOCI) 1 3    
Balance, end of period 280 299    
Net liability for future policy benefits, end of period 280 299    
Liability for future policy benefits for certain participating contracts 0 0    
Liability for universal life policies 0 0    
Deferred profit liability 19 22    
Other reconciling items 0 0    
Future policy benefits for life and accident and health insurance contracts 299 321    
Less: Reinsurance recoverable: 0 0    
Net liability for future policy benefits after reinsurance recoverable $ 299 $ 321    
Weighted average liability duration of the liability for future policy benefits (in years) 5 years 9 months 18 days 6 years    
Life Insurance        
Present value of expected net premiums        
Balance, beginning of year $ 8,365 $ 8,287    
Effect of changes in discount rate assumptions (AOCI) 504 797    
Reclassified due to reinsurance recapture   0    
Beginning balance at original discount rate 8,869 9,084    
Effect of actual variances from expected experience     (21) (22)
Adjusted beginning of year balance 8,848 9,062    
Issuances 367 328    
Interest accrual 170 176    
Net premium collected (534) (525)    
Other 2 0    
Ending balance at original discount rate 8,853 9,041    
Effect of changes in discount rate assumptions (AOCI) (598) (633)    
Balance, end of period 8,255 8,408    
Present value of expected future policy benefits        
Balance, beginning of year 17,209 16,947    
Effect of changes in discount rate assumptions (AOCI) 1,261 1,720    
Reclassified due to reinsurance recapture       0
Beginning balance at original discount rate 18,470 18,667    
Effect of actual variances from expected experience     (22) (29)
Adjusted beginning of year balance 18,448 18,638    
Issuances 364 323    
Interest accrual 391 401    
Benefit payments (779) (742)    
Foreign exchange impact 0 0    
Other 3 0    
Ending balance at original discount rate 18,427 18,620    
Effect of changes in discount rate assumptions (AOCI) (1,465) (1,425)    
Balance, end of period 16,962 17,195    
Net liability for future policy benefits, end of period 8,707 8,787    
Liability for future policy benefits for certain participating contracts 11 12    
Liability for universal life policies 4,287 4,108    
Deferred profit liability 27 24    
Other reconciling items 369 419    
Future policy benefits for life and accident and health insurance contracts 13,401 13,350    
Less: Reinsurance recoverable: (649) (656)    
Net liability for future policy benefits after reinsurance recoverable $ 12,752 $ 12,694    
Weighted average liability duration of the liability for future policy benefits (in years) 10 years 8 months 12 days 10 years 6 months    
Institutional Markets        
Present value of expected net premiums        
Balance, beginning of year $ 0 $ 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Reclassified due to reinsurance recapture   0    
Beginning balance at original discount rate 0 0    
Effect of actual variances from expected experience     0 0
Adjusted beginning of year balance 0 0    
Issuances 0 0    
Interest accrual 0 0    
Net premium collected 0 0    
Other 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Balance, end of period 0 0    
Present value of expected future policy benefits        
Balance, beginning of year 24,147 19,487    
Effect of changes in discount rate assumptions (AOCI) 3,290 3,206    
Reclassified due to reinsurance recapture       259
Beginning balance at original discount rate 27,437 22,952    
Effect of actual variances from expected experience     7 10
Adjusted beginning of year balance 27,444 22,962    
Issuances 163 520    
Interest accrual 595 481    
Benefit payments (852) (709)    
Foreign exchange impact (167) 893    
Other 0 0    
Ending balance at original discount rate 27,183 24,147    
Effect of changes in discount rate assumptions (AOCI) (3,759) (3,473)    
Balance, end of period 23,424 20,674    
Net liability for future policy benefits, end of period 23,424 20,674    
Liability for future policy benefits for certain participating contracts 0 0    
Liability for universal life policies 0 0    
Deferred profit liability 1,631 1,653    
Other reconciling items 0 0    
Future policy benefits for life and accident and health insurance contracts 25,055 22,327    
Less: Reinsurance recoverable: (65) (40)    
Net liability for future policy benefits after reinsurance recoverable $ 24,990 $ 22,287    
Weighted average liability duration of the liability for future policy benefits (in years) 10 years 8 months 12 days 10 years 8 months 12 days    
Corporate & Other        
Present value of expected net premiums        
Balance, beginning of year $ 825 $ 871    
Effect of changes in discount rate assumptions (AOCI) 34 61    
Reclassified due to reinsurance recapture   0    
Beginning balance at original discount rate 859 932    
Effect of actual variances from expected experience     (8) 4
Adjusted beginning of year balance 851 936    
Issuances 13 0    
Interest accrual 18 20    
Net premium collected (62) (53)    
Other 0 0    
Ending balance at original discount rate 820 903    
Effect of changes in discount rate assumptions (AOCI) (45) (45)    
Balance, end of period 775 858    
Present value of expected future policy benefits        
Balance, beginning of year 18,772 19,243    
Effect of changes in discount rate assumptions (AOCI) 1,180 1,556    
Reclassified due to reinsurance recapture       (361)
Beginning balance at original discount rate 19,952 20,438    
Effect of actual variances from expected experience     $ (19) $ (7)
Adjusted beginning of year balance 19,933 20,431    
Issuances 17 20    
Interest accrual 471 483    
Benefit payments (751) (745)    
Foreign exchange impact 0 0    
Other 0 (3)    
Ending balance at original discount rate 19,670 20,186    
Effect of changes in discount rate assumptions (AOCI) (1,423) (1,250)    
Balance, end of period 18,247 18,936    
Net liability for future policy benefits, end of period 17,472 18,078    
Liability for future policy benefits for certain participating contracts 1,203 1,239    
Liability for universal life policies 53 53    
Deferred profit liability 757 801    
Other reconciling items 107 107    
Future policy benefits for life and accident and health insurance contracts 19,592 20,278    
Less: Reinsurance recoverable: (19,592) (20,034)    
Net liability for future policy benefits after reinsurance recoverable $ 0 $ 244    
Weighted average liability duration of the liability for future policy benefits (in years) 10 years 2 months 12 days 10 years 6 months