v3.26.1
POLICYHOLDERS' ACCOUNT BALANCES (Tables)
 6 Months Ended
Jun. 30, 2026
Insurance [Abstract]  
Schedule of Changes in Policyholders' Account Balances
The changes in policyholders’ account balances and the reconciliation to “Policyholders’ account balances” in the statements of financial position are as follows.
20262025
AS OF AND FOR THE SIX MONTHS ENDED JUN. 30
US$ MILLIONS		AnnuitiesLife InsuranceTotalAnnuitiesLife InsuranceTotal
Balance, beginning of period$88,320 $2,193 $90,513 $81,444 $2,107 $83,551 
Acquisition from business combination65 — 65 — — — 
Issuances6,229 7 6,236 7,062 26 7,088 
Premiums received71 216 287 71 218 289 
Policy charges(313)(181)(494)(287)(189)(476)
Surrenders and withdrawals(5,587)(64)(5,651)(5,078)(55)(5,133)
Interest credited1,754 64 1,818 1,468 51 1,519 
Benefit payments(669)— (669)(568)— (568)
Other(5)— (5)4 — 4 
Balance, end of period$89,865 $2,235 $92,100 $84,116 $2,158 $86,274 
Reconciling items:
Funding agreements$3,509 $930 
Embedded derivative and other1,811 1,193 
Total policyholders’ account balances
$97,420 $88,397 
Weighted average crediting rate4 %6 %3 %5 %
Net amount at risk(1)
$13,803 $38,083 $12,907 $38,673 
Cash surrender value$82,860 $2,024 $77,655 $1,919 
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(1)Net amount at risk is defined as the current guarantee amount in excess of the current account balance.
Schedule of Account Values by Range of Guaranteed Minimum Crediting Rates
The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums follow.
AS OF JUN. 30, 2026
US$ MILLIONS		Range of Guaranteed Minimum Crediting RateAt Guaranteed Minimum1 - 50 Basis Points Above51 - 150 Basis Points Above> 150 Basis Points Above
Other(1)
Total
Annuities
0% - 1%
$2,997 $2,517 $3,866 $5,601 $— $14,981 
1% - 2%
2,262 254 787 1,026 — 4,329 
2% - 3%
1,800 515 369 17,167 — 19,851 
Greater than 3%
1,541 5 11 5 — 1,562 
Other(1)
— — — — 49,142 49,142 
Total$8,600 $3,291 $5,033 $23,799 $49,142 $89,865 
Life Insurance
1% - 2%
$42 $6 $68 $900 $— $1,016 
2% - 3%
378 — 222 — — 600 
Greater than 3%
602 — — 17 — 619 
Total$1,022 $6 $290 $917 $— $2,235 
AS OF JUN. 30, 2025
US$ MILLIONS		Range of Guaranteed Minimum Crediting RateAt Guaranteed Minimum1 - 50 Basis Points Above51 - 150 Basis Points Above> 150 Basis Points Above
Other(1)
Total
Annuities
0% - 1%
$3,715 $2,668 $4,170 $4,868 $— $15,421 
1% - 2%
1,569 307 1,008 1,596 — 4,480 
2% - 3%
1,931 373 217 11,323 — 13,844 
Greater than 3%
1,633 5 6 11 — 1,655 
Other(1)
— — — — 48,716 48,716 
Total$8,848 $3,353 $5,401 $17,798 $48,716 $84,116 
Life Insurance
1% - 2%
$38 $2 $66 $791 $— $897 
2% - 3%
423 — 221 — — 644 
Greater than 3%
617 — — — — 617 
Total$1,078 $2 $287 $791 $— $2,158 
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(1)Other includes products with either a fixed rate or no guaranteed minimum crediting rate or allocated to index strategies.