Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Accumulated Other Comprehensive Income

22. Accumulated Other Comprehensive Income

The components of and changes in the accumulated other comprehensive income (“AOCI”), and the related tax effects, are shown below:


			Change in Net Unrealized Investment Gains (Losses)						Change in Discount Rate for Future Policy Benefits						Change in Instrument- Specific Credit Risk for Market Risk Benefits						Defined Benefit Pension Plan Adjustment						Total
			(Dollars in millions)
Balance as of December 31, 2025			$	880					$	159					$	(15)					$	70					$	1,094
Other comprehensive income (loss) before reclassifications			(853)						183						182						(4)						(492)
Amounts reclassified to net income			8						—						—						—						8
Deferred income tax benefit (expense)			178						(39)						(39)						1						101
Balance at March 31, 2026			213						303						128						67						711
Other comprehensive loss before reclassifications			(124)						(77)						(156)						(4)						(361)
Amounts reclassified to net income			7						—						—						—						7
Deferred income tax benefit			26						16						33						1						76
Balance at June 30, 2026			$	122					$	242					$	5					$	64					$	433









Balance as of December 31, 2024			$	154					$	279					$	(196)					$	103					$	340
Other comprehensive income (loss) before reclassifications			397						(35)						68						(4)						426
Amounts reclassified from net income			(7)						—						—						—						(7)
Deferred income tax benefit (expense)			(83)						12						(19)						1						(89)
Balance at March 31, 2025			461						256						(147)						100						670
Other comprehensive income (loss) before reclassifications			191						(57)						(104)						(3)						27
Amounts reclassified from net income			(34)						—						—						—						(34)
Deferred income tax benefit (expense)			(30)						4						26						1						1
Balance at June 30, 2025			$	588					$	203					$	(225)					$	98					$	664