v3.26.1
SEGMENT REPORTING - Schedule of Segment Results (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]            
Total revenues $ 4,217   $ 3,037   $ 5,873 $ 5,655
Policyholder benefits, net (2,302)   (1,079)   (2,957) (2,186)
Interest expense (154)   (82)   (248) (155)
Income tax recovery (expense), net 35   91   (5) 4
Net income (loss) 149 $ (602) 516 $ (282) (453) 234
Operating Segments            
Segment Reporting [Line Items]            
Total revenues 4,167   2,651   6,598 5,346
Net income (loss) 464   358   882 763
Operating Segments | Annuities            
Segment Reporting [Line Items]            
Net premiums and other policy related revenues 1,368   493   1,628 1,045
Net investment income, including reinsurance funds withheld 2,101   1,345   3,588 2,666
Total revenues 3,469   1,838   5,216 3,711
Policyholder benefits, net (1,867)   (442)   (2,136) (973)
Interest sensitive contract benefits, excluding index credits (635)   (500)   (1,235) (984)
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired (207)   (225)   (393) (447)
Other insurance and reinsurance expenses (91)   (122)   (200) (214)
Operating expenses, excluding transaction costs (125)   (139)   (252) (261)
Interest expense 0   0   0 0
Income tax recovery (expense), net 0   0   0 0
Net income (loss) 544   410   1,000 832
Operating Segments | P&C            
Segment Reporting [Line Items]            
Net premiums and other policy related revenues 538   633   1,061 1,281
Net investment income, including reinsurance funds withheld 103   109   206 213
Total revenues 641   742   1,267 1,494
Policyholder benefits, net (345)   (474)   (681) (910)
Interest sensitive contract benefits, excluding index credits 0   0   0 0
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired (96)   (127)   (171) (237)
Other insurance and reinsurance expenses 0   0   0 0
Operating expenses, excluding transaction costs (89)   (76)   (180) (164)
Interest expense 0   0   0 0
Income tax recovery (expense), net 0   0   0 0
Net income (loss) 111   65   235 183
Operating Segments | Corporate & Other            
Segment Reporting [Line Items]            
Net premiums and other policy related revenues 0   0   0 0
Net investment income, including reinsurance funds withheld 57   71   115 141
Total revenues 57   71   115 141
Policyholder benefits, net 0   0   0 0
Interest sensitive contract benefits, excluding index credits 0   0   0 0
Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired 0   0   0 0
Other insurance and reinsurance expenses 0   0   0 0
Operating expenses, excluding transaction costs (34)   (19)   (66) (48)
Interest expense (141)   (82)   (233) (162)
Income tax recovery (expense), net 73   87   169 183
Net income (loss) (191)   (117)   (353) (252)
Segment Reconciling Items            
Segment Reporting [Line Items]            
Other DOE (24)   (40)   (44) (72)
Depreciation and amortization expenses (50)   (52)   (103) (116)
Deferred income tax expense (recovery) relating to basis and other changes 38   (4)   174 179
Transaction costs (109)   (14)   (155) (55)
Mark-to-market gains (losses) on investments, including reinsurance funds withheld (102)   237   (997) 27
Mark-to-market losses on insurance contracts and other net assets (116)   (49)   (298) (636)
Net income (loss) $ 149   $ 516   $ (453) $ 234