Derivatives Derivatives (Effects on the Consolidated Statement of Operations and Comprehensive Income (Loss) (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 |
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
|
|
$ 93
|
$ (630)
|
|
| Net derivative gains (losses) |
$ (307)
|
$ (584)
|
93
|
(630)
|
|
| Net Investment Income |
(3,014)
|
(2,806)
|
(6,114)
|
(5,682)
|
|
| Net policyholder benefits and claims |
(6,607)
|
(6,957)
|
(13,630)
|
(14,006)
|
|
| Net interest credited to PABs |
(951)
|
(941)
|
(1,884)
|
(1,872)
|
|
| Net investment gains (losses) |
(407)
|
(322)
|
(632)
|
(607)
|
|
| Income Statement Location [Axis]: us-gaap:EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net derivative gains (losses) |
(20)
|
(35)
|
175
|
(228)
|
|
| Cash Flow Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
0
|
0
|
0
|
0
|
|
| Net Investment Income |
(2)
|
(7)
|
(4)
|
(28)
|
|
| Net policyholder benefits and claims |
|
|
0
|
0
|
|
| Net interest credited to PABs |
0
|
0
|
0
|
0
|
|
| Net investment gains (losses) |
(10)
|
2
|
(10)
|
2
|
|
| Other Comprehensive Income (Loss), before Tax |
(82)
|
(1,223)
|
273
|
(1,408)
|
|
| Fair Value Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net Investment Income |
0
|
1
|
0
|
1
|
|
| Net policyholder benefits and claims |
(5)
|
(6)
|
(9)
|
(10)
|
|
| Net interest credited to PABs |
(1)
|
(1)
|
(1)
|
(1)
|
|
| Net investment gains (losses) |
(1)
|
0
|
(1)
|
0
|
|
| Other Comprehensive Income (Loss), before Tax |
(58)
|
|
(32)
|
|
|
| Fixed Maturities [Member] | Designated as Hedging Instrument [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Hedged Asset, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) |
(57)
|
|
(57)
|
|
$ (73)
|
| Interest rate contracts | Cash Flow Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
0
|
0
|
0
|
0
|
|
| Net Investment Income |
(1)
|
(6)
|
(2)
|
(26)
|
|
| Net policyholder benefits and claims |
0
|
0
|
0
|
0
|
|
| Net interest credited to PABs |
0
|
0
|
0
|
0
|
|
| Net investment gains (losses) |
(11)
|
9
|
(10)
|
9
|
|
| Other Comprehensive Income (Loss), before Tax |
10
|
(15)
|
8
|
(35)
|
|
| Currency Swap [Member] | Cash Flow Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
0
|
0
|
0
|
0
|
|
| Net Investment Income |
(1)
|
(1)
|
(2)
|
(2)
|
|
| Net policyholder benefits and claims |
0
|
0
|
0
|
0
|
|
| Net interest credited to PABs |
0
|
0
|
0
|
0
|
|
| Net investment gains (losses) |
(49)
|
1,070
|
(260)
|
1,418
|
|
| Other Comprehensive Income (Loss), before Tax |
48
|
(1,071)
|
258
|
(1,420)
|
|
| Derivative [Member] | Fair Value Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net Investment Income |
0
|
|
0
|
|
|
| Net policyholder benefits and claims |
0
|
|
0
|
|
|
| Net interest credited to PABs |
0
|
|
0
|
|
|
| Net investment gains (losses) |
|
|
0
|
|
|
| Derivative [Member] | Currency Swap [Member] | Fair Value Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net Investment Income |
61
|
(17)
|
52
|
27
|
|
| Net policyholder benefits and claims |
0
|
0
|
0
|
0
|
|
| Net interest credited to PABs |
(1)
|
(87)
|
(8)
|
(123)
|
|
| Net investment gains (losses) |
(2)
|
0
|
(2)
|
0
|
|
| Derivative [Member] | Interest Rate Swap [Member] | Fair Value Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Net policyholder benefits and claims |
33
|
(2)
|
39
|
(77)
|
|
| Net interest credited to PABs |
(24)
|
(9)
|
(37)
|
(46)
|
|
| Net investment gains (losses) |
0
|
0
|
0
|
0
|
|
| Fixed Maturity Securities | Currency Swap [Member] | Fair Value Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net Investment Income |
61
|
(16)
|
52
|
(26)
|
|
| Net policyholder benefits and claims |
0
|
0
|
0
|
0
|
|
| Net interest credited to PABs |
(3)
|
(87)
|
(10)
|
(123)
|
|
| Net investment gains (losses) |
1
|
0
|
1
|
0
|
|
| Fixed Maturity Securities | Interest Rate Swap [Member] | Fair Value Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Net policyholder benefits and claims |
28
|
(8)
|
30
|
(87)
|
|
| Net interest credited to PABs |
(23)
|
(10)
|
(36)
|
(45)
|
|
| Net investment gains (losses) |
0
|
0
|
0
|
0
|
|
| Credit forwards | Cash Flow Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
0
|
0
|
0
|
0
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Net policyholder benefits and claims |
0
|
0
|
0
|
0
|
|
| Net interest credited to PABs |
0
|
0
|
0
|
0
|
|
| Net investment gains (losses) |
0
|
0
|
0
|
0
|
|
| Other Comprehensive Income (Loss), before Tax |
0
|
0
|
0
|
0
|
|
| Foreign Currency hedged item | Cash Flow Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
0
|
0
|
0
|
0
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Net policyholder benefits and claims |
0
|
0
|
0
|
0
|
|
| Net interest credited to PABs |
0
|
0
|
0
|
0
|
|
| Net investment gains (losses) |
50
|
(1,077)
|
260
|
(1,425)
|
|
| Other Comprehensive Income (Loss), before Tax |
0
|
0
|
0
|
0
|
|
| Accumulated Other Comprehensive Income (Loss) | Currency Swap [Member] | Cash Flow Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Other Comprehensive Income (Loss), before Tax |
(116)
|
(108)
|
26
|
12
|
|
| Accumulated Other Comprehensive Income (Loss) | Interest Rate Swap [Member] | Cash Flow Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Other Comprehensive Income (Loss), before Tax |
(24)
|
(29)
|
(19)
|
35
|
|
| Accumulated Other Comprehensive Income (Loss) | Derivative [Member] | Fair Value Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Other Comprehensive Income (Loss), before Tax |
(58)
|
|
(32)
|
|
|
| Accumulated Other Comprehensive Income (Loss) | Credit forwards | Cash Flow Hedging [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Other Comprehensive Income (Loss), before Tax |
0
|
0
|
0
|
0
|
|
| Not Designated as Hedging Instrument [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
(345)
|
(606)
|
(195)
|
(514)
|
|
| Net derivative gains (losses) |
|
|
|
108
|
|
| Net Investment Income |
(48)
|
(28)
|
(80)
|
(90)
|
|
| Net policyholder benefits and claims |
|
|
|
(4)
|
|
| Net interest credited to PABs |
|
|
|
(71)
|
|
| Net investment gains (losses) |
|
|
|
0
|
|
| Other Comprehensive Income (Loss), before Tax |
|
|
|
0
|
|
| Not Designated as Hedging Instrument [Member] | Income Statement Location [Axis]: us-gaap:EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net derivative gains (losses) |
1
|
2
|
2
|
4
|
|
| Not Designated as Hedging Instrument [Member] | Income Statement Location [Axis]: us-gaap:NonoperatingIncomeExpense |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Net derivative gains (losses) |
57
|
55
|
111
|
|
|
| Net Investment Income |
5
|
2
|
|
|
|
| Net policyholder benefits and claims |
(7)
|
(2)
|
(14)
|
|
|
| Net interest credited to PABs |
(36)
|
(32)
|
(74)
|
|
|
| Net investment gains (losses) |
0
|
0
|
0
|
|
|
| Other Comprehensive Income (Loss), before Tax |
0
|
0
|
0
|
|
|
| Equity Market Risk [Member] | Not Designated as Hedging Instrument [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
(301)
|
(307)
|
(250)
|
(220)
|
|
| Net Investment Income |
(48)
|
(28)
|
(32)
|
(11)
|
|
| Interest Rate Risk [Member] | Not Designated as Hedging Instrument [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
(43)
|
(105)
|
6
|
(14)
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Foreign Exchange [Member] | Not Designated as Hedging Instrument [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
(49)
|
(346)
|
75
|
(472)
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Credit Default Swap, Buying Protection [Member] | Not Designated as Hedging Instrument [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
(5)
|
(7)
|
(2)
|
(12)
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Credit Default Swap, Selling Protection [Member] | Not Designated as Hedging Instrument [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
46
|
28
|
(2)
|
10
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Foreign Currency hedged item | Not Designated as Hedging Instrument [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
7
|
131
|
(22)
|
194
|
|
| Net Investment Income |
0
|
0
|
0
|
0
|
|
| Effects of Derivatives on Consolidated Statements of Operations and Comprehensive Income (Loss) [Member] |
|
|
|
|
|
| Derivative Instruments, Gain (Loss) [Line Items] |
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
(307)
|
(584)
|
|
|
|
| Net Investment Income |
51
|
24
|
(52)
|
(106)
|
|
| Net policyholder benefits and claims |
(2)
|
4
|
(5)
|
6
|
|
| Net interest credited to PABs |
35
|
33
|
73
|
(70)
|
|
| Net investment gains (losses) |
(11)
|
2
|
(11)
|
2
|
|
| Other Comprehensive Income (Loss), before Tax |
$ (140)
|
$ (1,223)
|
$ 241
|
$ (1,408)
|
|